What Excites Jill Right Now (1093)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Good day.
Steven Butala: Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California.
Steven Butala: Today, Jill and I talk about what excites Jill right now. This should be an easy, fun episode to do.
Jill DeWit: It's going to be G-rated, so nobody go there. Just had to say that.
Steven Butala: I think last episode was what excites me.
Jill DeWit: Uh-huh (affirmative).
Steven Butala: So it's really interesting because we recorded that like two weeks ago.
Jill DeWit: I already forgot what you said.
Steven Butala: Me, too. I entirely forgot about-
Jill DeWit: Do you think it's changed?
Steven Butala: No. Since you bring that up, I ...
Jill DeWit: I wonder if it's changed.
Steven Butala: We just had a live event and people come up to me, and they say something like this, "In episode 38 you said X, Y, Z." And I sit and laugh because I just don't remember. I don't remember what recorded last week.
Jill DeWit: Exactly.
Steven Butala: Let alone episode 38. Then I have to think like-
Jill DeWit: "Did I say that? I must have."
Steven Butala: Think about how different our business was in 2015 versus what it is now, so whatever I said in episode 38 may or may not apply right now.
Jill DeWit: Well, I'm proud to say that there's many times that we eat our words, and we say, "We are now eating our words." Or, "Realize we said this three years ago. Things have changed," and things do change.
Steven Butala: Right. Grossly changed.
Jill DeWit: Yes.
Steven Butala: Always for the better, hopefully.
Jill DeWit: Exactly.
Steven Butala: Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community. It's free.
Jill DeWit: Ben asks, "I recently mailed a county in northern Arkansas. It's my first mailer ever." Yay. "It was a smaller mailer of around 250 units-"
Steven Butala: Uh-oh.
Jill DeWit: I know. That is really small. "... just to get the process down and see if my mailer would yield responses. I received one angry caller, as was expected, of course. And I was looking to sell about 80-plus parcels." Oh [inaudible 00:01:56] Wait. I'm sorry. "I received one angry caller, as expected, and another investor who was looking to sell 80-plus parcels at what I thought was a decent price, around $400 an acre, for residential lots that are one to two acres." I'm liking this so far.
Steven Butala: I mean, that's $400 for a property. Four to $800 for a residential lot. Go ahead.
Jill DeWit: Amazing. "I did some additional research and reached out to another investor who is active on Land Investors and who has closed a number of deals in this area of Arkansas. He was kind enough to review the deal and determine the lots to be average and slightly overpriced ..." I was wondering about this. "... since you could purchase very similar lots on the post-tax auction list for cheaper, like around $150 with the back taxes paid, from what I saw. So that brings me to my question. For those that mail Arkansas, and other markets for that matter, are there certain markets where it makes more sense to only look at the post-t...