Deal Funding with People who are Unfamiliar with Land Investing (LA 1420)

Deal Funding with People who are Unfamiliar with Land Investing (LA 1420) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hi. 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 Arizona. I have to change that every time. You watching can tell my background is different. You probably have an idea that I'm not in Southern California. We're not in Southern California, but. Steven Butala: We're going through a back and forth. We're making some changes. Jill DeWit: We got some projects we're working on and it involves us spending a little more time here. It's all good stuff. Steven Butala: Exactly. Jill DeWit: What were you saying at the beginning? When we just were starting? Steven Butala: Our numbers were, on this talk show, we get all kinds of analytics back. We always have for five, whatever, six years that we've been doing this show. And our numbers have been incredibly well. They're doing very, very well. This last two months, I guess. Jill DeWit: Where did we record last time? Steven Butala: Because I think Jill and I are just having little bit more fun. I really do. Jill DeWit: Were we sitting here? I can't even remember. Steven Butala: Yeah. Jill DeWit: Okay, got it. I'm like, we've been traveling around, not traveling around, but you know, making changes in different, doing different things and trying to do stuff. So I'm like, I don't even know where I am. It's Friday, right? Steven Butala: It's actually Tuesday. Jill DeWit: I know. It's Monday. Steven Butala: Yeah. No, it's Tuesday when this airs. Jill DeWit: That's true. Steven Butala: That's what I meant. Today, Jill and I talk about deal funding with people who are unfamiliar with land investing. Jill DeWit: But before we get into it first, let's take a question posted by one of our members on the land investors online community. It is free. Jen wrote, got my first response today from my mailer. Yay. Lady inherited three parcels from her- Steven Butala: Mother-in-law. Jill DeWit: Mother-in-law, thank you. Steven Butala: M-I-L. Jill DeWit: I'm like, I see it. I'm like military. I'm like what the heck? Mother-in-law, okay, forty-five years ago. And recently quit paying taxes on them. She owes about thousand dollars so far in back taxes. There's access to only the first parcel, all three equal, and about two acres. So I'm thinking I'd have to sell them all together. Could probably get around $2,000 as I'm thinking she just wants out. Probably buy them around $2,000. Called the county to confirm utilities and access and found out the ground is rock hard, and to get utilities to it, they have to use explosives. They were very nice and actually going to call me back tomorrow with an estimate. Oh my gosh, I can't imagine. Thinking this one's dead, but good first learning experience. Steven Butala: I think, and Jen, we all know who you are. You're very new and very vocal in our group, and I appreciate that. Jill DeWit: You are. Steven Butala: But it seems to me, you're trying to find a way to kill this deal. I'm not sure why. How about we just look at the core economics of it. You can get it for 2000, 3000 with back taxes. I don't know what the value is. It's all economics for me. The hard rock thing, the hard rocks been that way for as long as that property has been there. And people, hopefully, have found a way around that or there's solar panels now and stuff. So I don't know enough about this deal to tell you, yeah, you should do it, or no, you shouldn't. But I do know you just found five reasons not to do the deal instead of maybe the one reason that you could do the deal that, and hopefully it's some version of, I'm going to be into it for three or 4,000 bucks, by the time it's done and it's worth 20. Jill DeWit: This made me think of what you took a picture of just yesterday.