Why Land Investment is Misunderstood (LA 1843)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Hello.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill K DeWit:
I'm Jill Dewitt, broadcasting from the Valley of the Sun, for a few more minutes.
Steven Jack Butala:
Today, Jill and I talk about why land investment is so misunderstood among real estate professionals, seasoned real estate professionals.
Jill K DeWit:
I love it. I think it's the greatest thing ever. When I talk to people... maybe they're commercial brokers, fill in the blank, and I talk about what I do and their eyes gloss over. They're like, "Yeah, that can't possibly work." I'm like, "Okay, see ya."
Steven Jack Butala:
I can tell [inaudible 00:00:41]
Jill K DeWit:
Not my competition. Awesome.
Steven Jack Butala:
I've been in real estate my entire life. I started in commercial real estate. I can tell you very clearly why this is, but we'll do it in a second here.
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. I hope you know by now-
Jill K DeWit:
Oh, I'm so excited.
Steven Jack Butala:
... that Jill and I instruct a handful of new and existing Land Academy members in a live class, called Career Path. If buying and selling land is your career or you want it to be, check it out. LandAcademy.com/CareerPath.
Jill K DeWit:
We are filling up right now. Career Path five starts October 13th, just a reminder. If you are thinking about this, do definitely send a note to our team. Did you say the email address? Support@LandAcademy.com. Sorry.
Steven Jack Butala:
Yeah, go ahead. This is filling up faster than any of the career paths that we've done.
Jill K DeWit:
Yeah. Word's getting out.
Steven Jack Butala:
Yeah. That's what it is. It's catching on.
Jill K DeWit:
You know what it is? Word's getting out. If there's anybody in our land space that does it, what we do, they charge 50, 80, a hundred thousand dollars, if they even do it. We undercharge. I'm just going to say that.
Things are going to change at the end of this year, but we'll get to that. That's a whole nother thing.
Steven Jack Butala:
That's absolutely right.
Jill K DeWit:
Peter wrote, "For those of you who have experience with six-digit deals, here's a newbie question."
Steven Jack Butala:
Here, one second, before you read this. I went into... before pre-producing all these shows today, the five that we record today, into Discord, to look for questions, as I always do.
Jill K DeWit:
Of course.
Steven Jack Butala:
Because there's a lot of new people, there's a lot of new questions, a lot of fresh new content. So if you join last week, during Jill's promo, at the time this airs, welcome.
Jill K DeWit:
Yay. Yay.
Steven Jack Butala:
We're happy you're here. It's great to see new people's perspective.
Jill K DeWit:
Fresh stuff.
Steven Jack Butala:
Usually, people join because they've been listening to our podcast for a while, and so you have these pent up questions. I love to see it all just coming out in our-
Jill K DeWit:
Brain dump.
Steven Jack Butala:
... environments. Yeah.
Jill K DeWit:
Call it a brain dump.
Steven Jack Butala:
So, anyway.
Jill K DeWit:
Good. Okay. So Peter wrote, "Newbie question. My understanding with these bigger deals, is you're not necessarily trying to double your money." Oh, hold on Peter. Oh, wait.
"I heard Steven and Jill mention that at some point, they would be happy to buy something a hundred thousand, they could sell for 150. So let's say we're talking about a property with a market value of $300,000. What would be a solid acquisition price, $200,000? Does the percentage you would be willing to acquire the property for change, if you wish to get deal funding? Maybe you prefer greater margins if you're working with someone else's money.
I have a few leads from prospects or from propertie...