Why We are the Experts at Flipping Land (they made us brag about it)
Jack Butala: Today, Jill and I talk about what makes us the experts at buying unwanted rural land and selling it for more, flipping land. In the small group of industry experts in our little niche, we have purchased and sold more property than all of them. Join us.
Jill, what's going on in your acquisition world today? This is the highlight of my day, by the way, to talk to you, because you constantly one-up yourself on the amazing acquisitions that you come up with.
Jill DeWit: Thank you. I appreciate that. Here is what I have going on today. This is so awesome. I don't know what to do with this right now. Okay. I got a call just a couple hours ago from a little old lady in Montana, something like that. I called her back. She was like, "Hey, this Mrs. Such-and-such. I have a piece of property. I have an old letter here from you. Please give me a call as soon as you can." I give her a call back. Turns out ... This is fantastic. Turns out ... Yeah, Great Falls, Montana. It's the coolest thing.
She and her husband have six acres in Pueblo, Colorado. She said, "We were going to build a house there, and he passed on years ago." It's clearly she just got another tax bill. She hadn't even opened it. She said, "I have the tax thing here." I said, "Okay, great." Bless her heart, she opened it up, read me the APN off of it. I just popped it in and looked at it, and it's fantastic. I'm serious. There's a paved road really close. We're talking it's super easy access. There's ranches in the area.
Here's the best part. I thought, "All right." I just went on LandWatch, and I'm looking it up to see what taxes are current, all that good stuff. It's just in her name. All my boxes are checked. I'm like, "Okay, I'm trying not to get too excited." I got to LandWatch. Guess what? I put in US. I put in Colorado. I put in Pueblo County. I put in four to ten acres, and I put in land. Guess how many pop up?
Jack Butala: Zero.
Jill DeWit: Close.
Jack Butala: Three.
Jill DeWit: Sixteen. That's not that many.
Jack Butala: That's great. Yeah.
Jill DeWit: No, yeah. Check it out. The next thing I do is I sort by price, low to high, just to see what this is worth. The cheapest there is five acres for fourteen nine. I'm like, "Wow." I'm like, "Do you have any idea?" She goes, "I don't even remember what we paid for it." She's just the sweetest thing. Check this out, too. I go look it up. It was bought back in 1985. You know what the seller name is? United States of America.
Jack Butala: How is that possible?
Jill DeWit: I don't know. I've never seen that. I was going to ask you, have you ever seen that?
Jack Butala: No.
Jill DeWit: Right.
Jack Butala: No. No, I haven't.
Jill DeWit: It's a warranty deed. I can tell that. I'm like, "Did they have this land they were holding onto something, and they didn't?" It's the South Pueblo Soil Conversation District.
Jack Butala: Oh, okay. That makes sense.
Jill DeWit: Okay. What was that?
Jack Butala: It's probably some government agency that decided to liquidate all kinds of stuff. I bet they rolled it into some kind of tax sale or some special thing. Yeah. If it's something specific like that, that makes sense. If it just says USA, that would concern me a little.
Jill DeWit: Okay, yeah. That's the township. I'm pretty darn excited, I got to tell you.
Jack Butala: Did you guys talk price at all?
Jill DeWit: Not yet. You know me.