Land Academy Show

How Much Wealth is Possible Buying Undervalued Land (LA 709) 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 California. Steven Butala: Today Jill and I talk about how much wealth is really possible by undervalued land. Jill DeWit: Do we just put a picture of where we live on there? Just kidding. Steven Butala: That's a good point. Well, we're not here to talk about Jill and I. It's going to seep in- Jill DeWit: I'll put a picture of some of our community members, where they live, on there. Steven Butala: Yeah, even better. Jill DeWit: I will put a picture ... Actually, one of our members posted a photo on social media of the brand new pickup truck that he bought himself- Steven Butala: Good. Jill DeWit: To drive around and look at the property in the Dallas area. You know who you are, as I'm talking about you. I thought that was really darn cool. He's really been very vocal about sharing that. Yeah, and he did it ... He's a dad with young kids, and did it methodically- Steven Butala: I know who you're talking about. Jill DeWit: Mm-hmm (affirmative) ... Methodically and carefully. He's not running a Ferrari. Steven Butala: He's Justin. Jill DeWit: Yes, and doing it the right way. Anyway, that's the thing ... Yeah, we say this all the time, don't listen to us, go talk to our people that are really doing this. There're hundreds of them that you can talk to on our online community. They'll you. Steven Butala: Any questions. If you're a listener, and you have any questions about whether this is true or not, go onto the LandAcademy.com online community. I built the site myself because I was so tired of answering these questions. Jill DeWit: Yeah. Steven Butala: What did you guys smoke today that you can there on the show like this and talk about how easy it is. Don't believe me. Jill DeWit: Right. Steven Butala: Go to LandAcademy.com and on the online community there, in the resources, and ask that question. Is this a pile of larkey or not? Jill DeWit: Malarkey. Steven Butala: Is it easy? Is it hard? How long does it take? Actually, that's kind of what the show's about. Jill DeWit: Yeah. Steven Butala: What's really possible. Jill DeWit: Well good, let's get to that. You just covered it, Steven, so there's where you can go do a question right now, and it's free, by the way. Right now, I'm going to answer one that Merritt put in there. Merritt asks: "Undoubtedly this question has been raised somewhere on the farms, but I'm having trouble finding specific answers." Steven Butala: Oh, this is good. Jill DeWit: "Has anyone had experience with terms deals defaults in California? I've seen it talked about in some threads, and that land lease options were the way to go versus land contracts, as depending on the state, utilizing land contracts for terms deals may necessitate going through an expensive, lengthy and formal foreclosure process in the advent of a default. Obviously, one would want to reclaim the land for resales quickly, and as inexpensively as possible, in the event the buyer stops paying. Any advice here,

Creating Immediate Equity with Property Acquisitions (LA 708) Transcript: Steven Butala: Steve and Jill Here. Jill DeWit: Hi! Steven Butala: Welcome to the LandAcademy show, entertaining land investment talk, we hope. I'm Steven Jack Butala. Jill DeWit: I'm sure it is, and I'm Jill DeWit, broadcasting from sunny southern California. Steven Butala: Today Jill and I talk about creating immediate equity with property acquisitions. I know of no other way, other than printing money in your basement, to create immediate equity. Jill DeWit: Isn't it awesome? Steven Butala: In a business. Jill DeWit: It's so exciting, you know it. That's the fun part. Steven Butala: Here's a spoiler alert: when you buy a piece of property that's worth $100,000 bucks, for $40,000, you just created $60,000 worth of equity. Jill DeWit: Yep. Steven Butala: The old school guys say, "Hey, buy low, sell high." Jill DeWit: Huh, really? Steven Butala: If you're running short on time today, you can just turn off the show. Jill DeWit: There you go. Steven Butala: We're going to talk all about that. Jill DeWit: You got it. Steven Butala: Before we get in to it, let's take a question, posted by one of our members on the LandAcademy.com online community, it's free. Jill DeWit: Cool. Mike asks, "I have a buyer of one of my properties in California, that has asked that I provide an NHD, which is a national hazard disclosure. I'm familiar with these on residential and commercial properties, does anyone get this disclosure when they purchase? Do you have your buyer pay the applicable fees? Split it? Or pay it yourself? It's small dollars to get it done, so in the end, I'll split it with the buyer, but I wanted to see what everyone's practice is typically. Thanks!" Steven Butala: Mike, this is nothing short of a joke. And, I can feel my face getting red about how this kind of stuff really angers me. In any given transaction, we just went through a deal like this, where, depending on whose orchestrating the deal, or who's involved in it, usually it's real estate agents who require all this CYA, cover your bottom, signatures, and disclosures, and lead-based paint, and all of this stuff. The first thing I ask everybody, and I actually don't ask it very nicely, is, "Am I required by law to do this?" So, that's my question here. Jill DeWit: No. Steven Butala: It costs ... Jill did the research, it costs $75 to get one of these things, and that's somebody's business. Jill DeWit: And, it's just their opinion. So, I've got to tell you, I just looked up a little bit before we're doing this show, and I found this website, I'm not going to say what it is, because I don't- Steven Butala: It's nothing. Jill DeWit: They don't deserve the advertising. Steven Butala: Nothing short of a freaking joke. Jill DeWit: It's a total scam. So, on the front page, on the front page of their website, it shows a two story house, shaking, because there's an earthquake, there's a big crack coming out of the house ... Steven Butala: They're inciting fear. Jill DeWit: ... Fire on the house, it's all animated. There's an animated person on the second floor with a helicopter fire hovering overhead. And then, for $74.95,

When to use the MLS for Immediate Resale Property (LA 707) 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 am Jill DeWit, broadcasting from sunny Southern California. Steven Butala: Today, Jill and I talk about when to use the MLS for immediate resale of your property and when not to. Jill DeWit: Some people don't realize you can use the MLS for any property type and any price amount, right? Steven Butala: You know this is Equity Week, this week. How to create equity through buying and selling land. And I'm not sure that, it just occurred to me that most of the people get their informal training from becoming a real estate investor, from their parents during their primary residence, you know? Jill DeWit: Right. Steven Butala: Like your parents, or somebody you know, sold a house and made a lot of money, couple hundred thousand bucks, maybe even millions if you are in California or Manhattan. And a switch flipped, you know, it flipped in my head when I was younger. Like, what if I just did that four times a year? Jill DeWit: Right. Steven Butala: Really. I was really young. That could be your ... Dad, you'd make way more money if you just did four of these a year. Oh, yeah, son, you're probably right. I gotta go to work. Jill DeWit: Exactly. Hand Dad his lunch. Bye. Steven Butala: He pats you on your head. Jill DeWit: Exactly. Steven Butala: Don't knock yourself out. Do good at math today. Jill DeWit: Isn't that funny? Alright. I know you have a lot. This is good. Steven Butala: So, it truly is ... Some of this stuff is so simple once you accept this fact, that all the crap that you've learned about real estate investing, that you've absorbed like a sponge your whole life, you gotta kinda undo. Jill DeWit: Mm-hmm (affirmative). It's so true. You know, you just brought us a good point that I wanted to say. I don't know if it was on social media or if was in our online community, but one of our members was so cool, put a note like, it's April first, or it was some day like that, and he's like, I've already made, you know ... whatever. I don't remember when it was- Steven Butala: Three times as much as I did last year in my salaried job. Jill DeWit: It's like, if I already made my salary up for the year, so the rest is gravy. I can't remember when it was. It might have been in some point last year. I don't know. It's all a blur. Steven Butala: 2017 is a blur. Jill DeWit: I know. But at some point throughout either this year or last year, he made a point to say, alright, today's the day. I already matched my salary, what I would've been working for the full year at my old job. Which was a good job, by the way. So, it was awesome. Steven Butala: That's great. Jill DeWit: Yep. Love it. Steven Butala: What better endorsement for real estate investment is that? Jill DeWit: Exactly. Steven Butala: Before we get into the actual topic, let's take a question posted by one of our members on the landacademy.com online community. It's free. Jill DeWit: Okay. Steven, this name comes up a lot here. Steven asks, I've been looking at county records while cleaning up RealQuest data for a mailing,

3 Step Process to Buying Property for Immediate Resale (LA 706) 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 DeWitt, broadcasting from sunny southern California. Steven Butala: Today Jill and I talk about the three step process to buying property for immediate resale. I know it seems like a Captain Obvious moment. Jill DeWit: The whole thing's gonna be Captain Obvious. Steven Butala: What do you mean, Steve? You want to resell the property immediately? Jill DeWit: Who doesn't want to sell it immediately? Steven Butala: You wanna, so that's what we should talk about, because I don't understand when people come to us all the time and say, "No, I just bought that house for $35,000". Jill DeWit: You want to say "I just sold that house and made $35,000" Steven Butala: I'm quoting my little sister because she seems to accumulate $35,000 houses and then rents them to dead beats and then she wonders why "what? What, what am I doing wrong?" Jill DeWit: Isn't that a funny, you know it's so, I was just thinking about that too. In our market and those markets are so weird, so different, where we are in southern California and I, I'm often on my phone and you and I are both on every single person's buyers list. And I look at these and, like, right now there's one in Tennessee. It's a three bedroom, one bath and its $28,000 or best offer, right? Steven Butala: And there nothing wrong with that. Jill DeWit: No, I just forgot. Sometimes you forget. Oh yeah, get out of your, snap back. Get in to the Tennessee mode. You can really buy homes that cheap. Steven Butala: Yeah I just talked to a guy actually, on a consultant call. That's his whole business model. In the center of the country, he buys properties for 70 or 80 thousand bucks. Cleans them up, marks them up 20 grand and sells them. Jill DeWit: Yup. Steven Butala: And that what we're gonna talk about, immediate resale. Jill DeWit: Exactly Steven Butala: Before we get into the meat of the show, let's take a question posted by one of our members on LandAcademy.com online community, it's free. Jill DeWit: Paul asks, "Hey L.A. community, I'm working on getting my first property sold and all of the interest I have had thus far seems to be wanting to do terms. I know it's not quite as straight forward in Colorado as it is in some states, but from some searches, it seems like more members are having some success there. Most of the posts, however, are older. Does anyone have any information on pitfalls to avoid when I'm doing terms deal in Colorado? I found a website that has some helpful articles. Non-advertisement, I haven't used them. And I have no connection with them. But I wanted to see if anyone else had some realworld experience to share". Steven Butala: Yeah, so what the poster, what Paul's talking about is selling property is [inaudible 00:02:41] the opposite of what this show's about. Jill DeWit: Right. Steven Butala: He's asking about buying piece of property for ten grand, let's say, and selling it on terms. Collecting payments for quite some time until the thing's paid off. Jill DeWit: It might be like 25 thousand dollars in the end, kind of thing. Steven Butala: Right,

Land Academy Data vs House Academy Data (LI 705) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hello. Steven Butala: Welcome to the Land Investor Show. Happy Friday. 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 Land Academy data versus House Academy data, and we're wrapping up data week in case you didn't know. Jill DeWit: Woo hoo! Steven Butala: Jill's happy. Wasn't that bad was it? Jill DeWit: No. No. No. No. It's so funny. I gotta tell you something though. Some people data really scares them, and I told this to one of my employees the other day. We have a lockbox on our office door, because it just saves keys, and we don't have to worry about, and if I change something, I don't have to change anybody's keys. I just change the lockbox code. No big deal. So, our broker walked into our office building yesterday, and they saw the lockbox, and so they're peering in the windows thinking there's nobody in there. Steven Butala: Oh. Jill DeWit: And our receptions is sitting there looking back at them going "Why are they staring in here?" And so she opens the door like "Hi, can I help you with something?" And there's a lockbox and no signage, right? So, the person goes "Well, we were just kinda wondering if anybody was in here. By the way, what do you guys do?" And my receptionist said "Real Estate", and of course, then it launches, and I'm like "You know, that's really not what we do." The next you know everybody's gonna say "Great! Can you help me?" Steven Butala: Oh, you know, I'm looking for a house in ... That happens to me every day. Jill DeWit: Yeah. And I'm like "Oh, I don't wanna do that. That's the last thing." So, I properly tried to tell her, I said "Please remove real estate, because that just opens up the thing that's not what we do in that form, what they think, what they always assume." I said "So, please replace it with we are investors, property investors." I said, "Or if you really don't wanna explain much, say data." Because that word. Steven Butala: Yeah, we teach math. Jill DeWit: Right. We teach math. Steven Butala: Everybody run away. Jill DeWit: That would be hilarious. Steven Butala: Run away with that. Jill DeWit: Right. I said "Just say we're a data company." Steven Butala: We kinda do teach math. Jill DeWit: And data. More data. Steven Butala: Now that I think about it. Jill DeWit: We don't teach 'em how to add up the numbers, we teach 'em what to use to add up the numbers, but it's really about data. And even hers like "Oh, how am I gonna explain that?" I'm like "Don't. That's the whole point." We're here being under the radar on purpose. At least as far as our office is concerned. Not in life. Steven Butala: Right. Jill DeWit: Sorry. That was a long story. Sorry. Thanks. Steven Butala: So, did they just turn around and leave? Jill DeWit: Well, yeah. I came out at that point, and said "We're not real estate as what you think. We're actually private investors is really what we do in this office." And I'm sure the lady walked around, turned around going "Now, I really have no idea what they are." Steven Butala: Yeah. Jill DeWit: Which is totally cool...

Real Cost Using Data to Purchase Undervalued Property (LI 704) Transcript: Steven Butala: Steve and Jill here. Jill DeWitt: Hello. Steven Butala: Welcome to the Land Investors Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWitt: And I'm Jill DeWitt, broadcasting from sunny southern California. Steven Butala: Today Jill and I talk about the real cost of using data to purchase undervalued property. The actual cost, the price per unit I should say, or included in that is the actual cost of not using it. Trying other ways and methodologies. Jill DeWitt: Good point. Steven Butala: And the real cost of actually not using our experience, which is free. Jill DeWitt: Right. Steven Butala: But before we get into that, let's take a question posted by one of our members on the LandInvestors.com online community. It's free. Jill DeWitt: Okay. Matt asked, "Hey everyone. I didn't see any threads on this topic, so I thought I'd start one. Someone offered to sell me a parcel of vacant commercial land." Steven Butala: Love it. Jill DeWitt: "I usually stick to residential, but I was curious what differences commercial might pose. What due diligence steps exist for commercial that aren't there for residential? What's the sales market like compared to residential? Do you post it somewhere else, like LoopNet?" Steven Butala: Yup. Jill DeWitt: "How do you gather comps? Thanks in advance. Sincerely, Matt." Steven Butala: Great questions, Matt. We buy commercial property probably once a month here, and the first thing I do is go onto the EPA's website, the Environmental Protection Agency, and make sure that the property is not logged in there, it's not part of super [inaudible 00:01:28] site, and more importantly, and I think this gets overlooked about commercial property all the time, is what's going on in the immediate area of the property. I'll give you a very, very quick story. I did a commercial real estate deal a lot of years ago that it got terminated and didn't close. Broke my heart actually. I was really young, I needed the money. Didn't close because there was a former gas station three blocks away, and it had a tank that was still in the ground and the lender said they wouldn't lend on it based on that. Jill DeWitt: Because it was too close. Steven Butala: Yeah. Jill DeWitt: Well, it could happen. Steven Butala: Yeah, which is really silly. There's a lot of people get real heated in real estate about the EPA and how they're vigilante about it. But that's a time for a different debate. So, that's the real difference. And then LoopNet is if it's a real piece of commercial property, and LoopNet is the single place to buy and sell commercial land. Jill DeWitt: Aren't mobile lots considered commercial? Steven Butala: Well, that's another thing. Yeah, sometimes. No, mobile are considered mobile. But the thing with commercial property is that you can zone down. Jill DeWitt: I love it. Steven Butala: So, go ahead, Jill. Jill DeWitt: So, depending on where it is, I usually get excited about it. So, if it's vacant commercial land and it's way out somewhere that they thought they were going to do this town, and it never really panned out, the beauty of commercial is you have a lot more options, and often you can use it for mobiles. With the way properties go, it's much,

Mailer Pricing with Zillow Trulia Redfin DataTree Algorithms (LI 703) Transcript: Jack: Steve and Jill here. Jill Dewitt: Hi. Jack: Welcome to the Land Investors Show, understanding land investment talk. I'm Steven Jack [Butella 00:00:08]- Jill Dewitt: And I'm Jill Dewitt broadcasting from sunny Southern California. Jack: Today, Jill and I talk about mailer pricing. How do you price your mailer using Zillow, Trulia, RedFin, and Data Tree algorithms. All of them or just some of them? Jill Dewitt: This is going to be really [crosstalk 00:00:27] Jack: Interesting stuff. Jill Dewitt: I've been waiting for this show. I saw the title coming up. I'm like, "Aw, this is going to be one of our biggest ones." Jack: This is Data Week this week. Jill Dewitt: Yes it is. Jack: You know how like there's Shark Week? On cable TV. It's Data Week. Jill Dewitt: It's Data Week. Jack: And I will fully confess that Shark Week is probably more interesting, but a lot less profitable for nearly all of us. Jill Dewitt: Whoa, whoa. Wait. Shark Week is more profitable or Data Week? Data Week is more profitable. Jack: See she's already not listening. Jill Dewitt: No, I really wasn't. I'm going to be honest with you, Jack, I'm actually ... I was halfway into a doodle. Jack: I know I can see. Before we get into the show, let's take a question posted by one of our members on the LandInvestors.com online community. It's free. Jill Dewitt: It's going to be fun to see what my drawing looks like at the end of this show. Completed drawing. Jack: I know. Jill Dewitt: Okay. Steven, is it really Steven asks? I guess we have another ... okay. Anyone practicing holding deals till I have a buyer? Jack: Deeds. Jill Dewitt: Oh, excuse me. Anyone practicing holding deeds till they have a buyer to keep the purchase amount hid? Oh I know this is not without risks, but I was wondering if anyone practices this to not have your buyers be able to look up what you just paid for a lot you are reselling. That's kind of funny. I don't think it matters. Jack: If it matters. Jill Dewitt: I don't-[crosstalk 00:01:48] Jack: This matters in houses, by the way. If they see what you bought it for, they're going to try to negotiate a better deal. Jill Dewitt: It didn't slow us down. It hasn't slowed us down. Jack: No. Jill Dewitt: Because we don't hold back recording house deals.[crosstalk 00:01:57] Jack: Because here's why ... actually that's how I was going to answer that question. If you have a buyer that's real concerned about that, then they're not the right buyer. Jill Dewitt: It's like you go ... everywhere you go, you know they're making money off it to get it to you. They only way of you doing this is if you live on a farm and grow your own food and build your own car. We all know that the next person's making some money off it. It's just you want to make sure that it's a good amount, and they feel good about their price. The purchase.

How Market Data Removes Risk in Real Estate Acquisitions (LI 702) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hello. Steven Butala: Welcome to The Land Investors Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California. Steven Butala: Today, Jill and I talk about how market data removes the risk from real estate acquisitions. It's one of my favorite topics. As you may or may not know, this is Data Week here at the Land Investors Show. Jill DeWit: I'm sorry. I love the Data Week. I'm going to walk in and make sure everybody around knows, "Data Week. Data Week. Data Week." Every week is Data Week, Jack. Why is this week different? Steven Butala: We just talk about it a lot more, which makes me really happy this week. But, you're right. Our whole life is packed full of data. Jill DeWit: Everything we do is data. Steven Butala: That's why these are easy- Jill DeWit: You stand in a grocery store, and you ... You know what? Let me share this about you, will you please? Steven Butala: Oh, no. Jill DeWit: You stand in the grocery store and analyze the costs of meat prices based on comps, and if we should buy the meat there. Steven Butala: It has a price per unit, like per ounce or per pound, or however they have it in there. Jill DeWit: We were at the gas station, and you were telling me what gas to put in my car and where to go, based on data. Steven Butala: Until recently, I thought everybody did that. Jill DeWit: No, they don't. Steven Butala: Every once in a while there's a guy in a grocery store, and he's doing the same thing. We look at each other and kind of laugh, like, "Yep. You have the same problem." Jill DeWit: Yep. Know what the good news is? There's a few places like Costco Jewelry, that it already passes your test. That's really good. Steven Butala: That's true. Jill DeWit: The other day, I said, "Meet me at the jewelry counter." Steven Butala: You don't buy jewelry for a price unit, you buy it all on emotion. Jill DeWit: Yeah, but it's a good price there, though. Steven Butala: You know why I don't feel bad about that? Jill DeWit: You were happy with that. Steven Butala: I don't feel bad about that at all. I don't even look at the price if there's something that you want when it comes to jewelry, because everything else in my life, it's already locked down. Jill DeWit: Oh, thank you. Steven Butala: Splurging on that, and it makes you happy, the dividends pay huge. Jill DeWit: Thank you. Can we please go shopping after the show? Steven Butala: We'll see how the show goes. Jill DeWit: Okay. Steven Butala: Before we get in to the topic today, let's take a question posted by one of our members on TheLandInvestors.com online community. It's free. Jill DeWit: Okay. Neil asks, "How does one tactfully back out of signed return offers on properties you do not wish to buy? Should I call them speak ..." This is so good. "Call them speaking in a foreign language and hope they hang up? Send them a Starbucks gift card?" Steven Butala: Starbucks card. I would not do that.

Power of Data in Real Estate Investment (LI 701) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hi. Steven Butala: Welcome to the Land Investors Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny southern California. Steven Butala: Today Jill and I talk about the power of data in real estate investment. Surprise, surprise. We're gonna talk about data. How can you guys, this is a question we get. Jill DeWit: We talk about data all the time. Steven Butala: How can you guys possibly have 700 shows about land? Jill DeWit: Right? Steven Butala: It's gotta be the most depressing, awful, monotone, Ferris Bueller type discussion there ever was. Jill DeWit: No way. Steven Butala: How do you keep it fresh? Jill DeWit: I love data. Steven Butala: Any of you have been in a relationship for longer than 10 years, you know the tricks. Gotta keep it fresh. Jill DeWit: There's tricks? Steven Butala: You either just accept the fact that you're gonna be ... Jill and I just have a really close friend and he just disclosed a, and he does not listen to the show. He said, "I just accepted the fact that I'm gonna be unhappy." Jill DeWit: Yeah, that was really sad. Steven Butala: Both of us just gasped, just like Jill did. Jill DeWit: Really sad. I'm like, wait. He's making some changes in his life right now, and remarried, and I would think it'd be the most exciting, happiest time in your life. Steven Butala: Right. Jill DeWit: I was asking about that, and it was the exact opposite. I hope you don't feel that way. Steven Butala: I don't. I have the exact, exact opposite sentiment about data and real estate and whether it just keeps getting better, and better, and better. We live in a perfect time. Jill DeWit: Isn't it? Steven Butala: To buy real estate using data, because data gets better and better. Jill DeWit: Hold on. Part of me is ticked off that there's so many people in the real estate community that are not using data and don't understand data, number one. I'm like, you guys are ding dongs. Why is this so hard? Then number two is, you know what? That's great. Steven Butala: Good. Jill DeWit: I'm happy that they're spending 20 hours a week going door to door- Steven Butala: Or placing bandit signs. Jill DeWit: Handing out business cards and showing up at little meetings. I'm like, you know what? Actually, that's great, because then I'm gonna get there faster. So- Steven Butala: Today's, this week is data week. It's all about data. All five shows. This is obviously the first one, but in a minute here, we're gonna tell a story about we just bought a house and sold it for $25,000 more. Didn't even sweep the floor. Jill DeWit: Exactly. Steven Butala: Three days later, the person who's cleaning it up put a dumpster out in front, and we got a call from somebody down the street, three doors down, who got a letter because we sent out the same mailer and said, "Wait a minute, did you guys buy that house?" This is all, I'm gonna let Jill tell the story in a few minutes here. Jill DeWit: Okay. Steven Butala: Before we get into it,

Land Investors Show 700 (LI 700) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Happy Show 700. Steven Butala: Welcome to the Land Investors Show, Show 700. Entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: And I am Jill DeWit, Show #700, broadcasting from sunny Southern California. I can't believe it's 700. Steven Butala: Today Jill and I talk about this Land Investor Show, Episode #700. Jill and I had a little misty moment right before we turned the microphones on. I truly can't believe. Jill DeWit: Remember the times that I wanted to quit on Show #48, #148, #62, #91, #312 ... Just Kidding. Steven Butala: #999. #698. Jill DeWit: Yeah, that's right. Laugh, Jill. And today I'm here for this show. Steven Butala: It's horrible. Jill DeWit: I can't wait to say how this all started, how I became- Steven Butala: The whole thing was- Jill DeWit: Part of it. Steven Butala: My idea, and we'll get to it in a minute. Jill DeWit: Yes. Steven Butala: But let's take a question first, posted by one of our members on the LandInvestors.com online community. It's free. Jill DeWit: All right. I haven't seen a question from this person in a while, and it's really nice to see. So, hello Michelle. Michelle asks, "After two months on Ebay- Steven Butala: Two rounds. Jill DeWit: "Two rounds," excuse me, "On Ebay, I finally got my first terms deal. It's a .26 acre lot in Cocoa, Florida, seven miles away from Cocoa Beach. I bought it on a tax [inaudible 00:01:24] auction for $3,390.00. I sold it on terms for $10,000.00 with 5% interest. Down payment, $1,052.00-" Steven Butala: I love all these numbers. It's awesome. Jill DeWit: Thank you so much, Michelle. Steven Butala: It's real. Jill DeWit: "Monthly payments of $168.86-" Steven Butala: Nice. Jill DeWit: "For 60 months. If I get tile insurance before they pay it off, which costs $2,000.00, I'll still be at $4,000.00 profit. The buyer asked this question: "Can we go by a standard amortization chart? That way, if I pay a chunk over the amount owed, it will be easy to calculate exactly where we are in regards to the payoff amount, as well as the amount of interest owed." I'm looking for some feedback on amortization." Steven Butala: Here's the answer. When you take out a mortgage, what he's referring to is a standard amortization schedule. Every payment has principle and interest in it. A standard amortization schedule looks like an X. One of the lines of X's is principle, one of the lines is interest. If you take your arms and make an X, your left arm is the interest, and your right arm is the ... I'm sorry, the other way. Your right arm is the interest, and your left arm is the principle. So, the more payments that you make, like in this case, payment #50, let's say, has a tremendous amount of principle in it and very little interest. But the first payments that you're making ... This is just like a house or a car. The first payments you're making are almost all interest. It's a sneaky, terrible, awful way that finance companies and banks schedule stuff. That's why new cars, you're always under water with your car. If it was straight line amortization where a $500.00 was right from the get-go $250.00 a month in principle,

Selling Little House on the Prairie Story (LI 699) Transcript: Steve Butala: Steve and Jill here. Jill DeWitt: Hello. Steve Butala: Welcome to the Land Investors show, Entertainment Land Investor Talk. I'm Steven Jack Butala. Jill DeWitt: I am Jill DeWitt broadcasting from sunny southern California. Steve Butala: Today, Jill and I talk about selling that Little House on the Prairie story. You know, if you're really young you may not know about it. But there was a show on TV for a lot of years in the 70s and 80s called Little House on the Prairie based on a famous book series. Jill DeWitt: Paw, Paw. Steve Butala: Laura Ingers Wilder grew up- Jill DeWitt: Michael Landon. Steve Butala: ... in a picture perfect little setting with a cabin and smoke coming out of the smokestack, and they had a homestead, and they never had any money but they were good people, and they lived off the land. That's the story we sell. Jill DeWitt: They never had any money. Steve Butala: As a real estate owner ... They never had any money. Did you notice that? Jill DeWitt: It is kind of true. They had three dresses. Steve Butala: But they were free, you know? Jill DeWitt: That's true. Steve Butala: They were in control. Jill DeWitt: They never wanted for anything. There was always food. Steve Butala: They helped each other out. Yeah. Jill DeWitt: Yeah, yeah. That's true. That's good. Steve Butala: That's the lifestyle we all want. None of us ... We want that one time a year where the $300 property tax bill comes up. We want that to be our one bill. Jill DeWitt: I know, right? And we hope it's a $30 tax bill. Steve Butala: Right? Jill DeWitt: That's awesome. Steve Butala: That's the story we're selling, and you can, believe it or not, in an Internet posting for a 40 acre property somewhere really sell the heck out of that concept. That's what people are looking for. That's what I'm still looking for. I'm still looking for that, after 15,000 deals. Jill DeWitt: Isn't that interesting? Why is that? Steve Butala: I still get on the Internet on the weekend and say, where could I buy a piece of property ... Even [crosstalk 00:01:45] Jill DeWitt: I don't have that. Steve Butala: I do. Jill DeWitt: I don't have that. Steve Butala: It's a guy thing maybe. I don't know. Jill DeWitt: Maybe it is. Steve Butala: Before we get into it and probably start arguing about it, let's take a question posted by one of our members on the LandInvestors.com online community. It's free. Jill DeWitt: Okay. Marilyn asks, "Has anyone seen this type of wording before? If so, am I correct in saying Seller A has full permission and authority to sell as noted in second paragraph before. So in quotes, 'Grantor reserves a legal titled estate in the property for the remainder of the life of Seller A and the wife of Seller A.'" Oh my gosh. How much did [crosstalk 00:02:29] Steve Butala: I will explain this. Jill DeWitt: "This is nuts. How should new deed be written? Should a quit claim deed be prepared adding sons as grantors? Seller A's spouse has passed,

How to make your Land StandOut on the Internet (LI 698) Transcript: Steve J. Butala: Steve and Jill here. Jill DeWit: Hi. Steve J. Butala: Welcome to The Land Investors Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny southern California. Steve J. Butala: Today, Jill and I talk about how to make your land stand out on the internet. We talk about buying property, night and day it seems like. We don't talk about selling it as much. Jill DeWit: It's true. Steve J. Butala: Here's a spoiler alert. Here's what's ahead. If you buy property so cheap and sell it so cheap, it's going to stand out on the internet. Jill DeWit: That's number one. Steve J. Butala: That's not what the whole show is about. There's a lot of ways to make your property stand out, but nothing makes it stand out ... if you're pressed for time today, you can turn it off. Jill DeWit: What does that mean? Steve J. Butala: Price is the best way to sell a piece of property. It turns out you have incredible control over how much you pay for a piece of real estate. Before we get in to that, let's take a question posted by one of our members on landinvestors.com online community. It's free. Jill DeWit: Okay. Mark asks, "I'm coming across some big land holding LLCs and invest ..." I don't know. Was the name on there correct or not correct? Steve J. Butala: It's correct. You're correct. Jill DeWit: Okay. "I'm coming across some big land holding LLCs and investment groups in a county, and was wondering what type of success others are experiencing when making offers to the corporate world." Steve J. Butala: I'm extremely confident you're talking about Nevada. Here's a story with Nevada and some parts of California, but mostly Nevada. Jill DeWit: Nevada Land Company. Steve J. Butala: Yeah. Nevada Land Company. Nevada Land Company is a land ownership holding company for a mining company. They're not interested in service rights, which is what we buy and sell here. What all of us do. They have an arm where all the rogue employees that are kind of weirdos work. They're responsible for selling huge, huge properties, like square miles, and square miles, and square miles of property. I just wrote an article for our newsletter that's going to go out Thursday. The title of it is The Top 10 Landowners in the Country, and how we rank against it, and what we do. It's actually pretty impressive. Jill DeWit: Cool. Steve J. Butala: Anyway, these guys don't come close. There's people who own millions and millions of acres. But, when you run across these large owners of LLCs that just ... you look down the list of ownership, and they own like 80% of it. Make contact with them, and ask them. Talk with them. I personally have purchased thousands of acres from Nevada Land Company. One of our competitors, our first student, Mark Podolsky, The Land Geek, made his career off that, off of my advice. Jill DeWit: It's good. Steve J. Butala: Back in the day, you could buy a section of property, like 640 acres, and cut it up into 40 acre properties and sell it on terms. You literally buy it for, I don't know, $50,000. A whole square mile. Cut it all up, and sell it the 40s for 20,000 each. You don't need a calculator for that math. Jill DeWit: Exactly. Well, you do. I do. Steve J. Butala: Make contact with them.

When to Put a Mobile on Your Land (LI 697) Transcript: Steven: Steve and Jill here. Jill: Hi there. Steven: Welcome to the Land Investor's Show, entertaining land investment talk. I'm Steven Jack Butala. Jill: And, I am Jill Kristine DeWit, podcasting from sunny Southern California. Had to throw in there. Steven: With the K. Jill: With the K. Steven: Like the killer car. Today Jill and I talk about when to put a mobile home on your land and when not to. Jill: I know you're going to have some good ideas about this. Steven: I have multiple stories, multiple beautiful stories with happy Hollywood endings about mobile homes on land. Jill: I bet 99.9 to 100 percent of the time, it's never a bad thing. It's just, depending on your budget, your market, and all that kind of stuff. Steven: Here's a preview: imagine you're looking through the internet on Land Pin or wherever you look at land to buy it, and you flip through ten properties in XYZ county, and then, there's one with a mobile home on it. That's number eleven property that you look at, and it's priced just like all the others, I don't care if the mobile home's half burned-out. Are you going to click on that and look at it, and say, "You know what?" Jill: It's going to get my attention. Steven: "Somebody must live in there." Jill: They figured it out. Steven: "Somebody had a 'Little House on the Prairie' moment." It's not hard to make that jump. Jill: Exactly. Steven: Before we get into that, though, let's take a question posted by one of our members on the landinvestors.com online community; it's free. Jill: Okay. Mike asks, "I just want to see how others were checking on HOA, Home Owner's Association, status on their land deals. Basically, how do you check to see if there is an HOA?" You know, it's funny, I saw this question the other day, and I weighed in on it. Steven: Oh, good. They can answer it on the air, then. Jill: I actually put a note in there, because I was like, "Hey, good for you for thinking of it and checking it ahead of time because usually, what happens is, you learn about these after you good one up." After, you realize, "Oh no, I just bought and sold a property that had an HOA on it and it had $800 in back fees." That's usually how it goes, unfortunately. And, you go, "Well, I will always check that." So, sometimes, it's a little tricky because it's not on the deed; it doesn't smack you in the face. So, first thing that everybody was actually weighing in on in the forum in our online community was, ask the seller. Yes, first, that's your first thing. Number two, I would do some checking, and usually, if it has a subdivision name, that's going to be a first clue. It's not always correct; there's some subdivisions that do have and some that don't. And, some properties, you can't tell. But, if it's, like, in Glenn Oaks Ranches, there's a pretty good indication- Steven: That's subdivided property. Jill: Right. That there could be an HOA and you need to dig a little further. And, you could put in the name of that and do some internet searching, and nine times out of ten, you will find it. Steven: That was my suggestion. Jill: And then, the third one is, ask the county. Steven: Yeah. That's what I do. Jill: Because, they communicate back and forth because,

Lipstick Flip (LI 696) Transcript: Steve Butala: Steve and Jill here. Jill Dewit: Hello. Steve Butala: Welcome to the Land Investors Show. Entertaining land investment talk. I'm Steven Jack Butala. Jill Dewit: And I'm Jill Dewit, broadcasting from sunny southern California. Steve Butala: Today, Jill and I talk about a lipstick flip. I learned a new phrase the other day and I feel compelled to share with everyone. Jill Dewit: Sounds like- Steve Butala: It's as funny as what it sounds like. Jill Dewit: Are we talking about property or are we talking about women? Are we talking about ... Steve Butala: Oh, we're going to cover all of that. Jill Dewit: ... getting ready for a date. What are we going to talk about? I'm really intrigued here, Jack, this is awesome. Steve Butala: Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free. Jill Dewit: Steven asks, "I know this is not supposed to be a big deal, or a deal-stopping issue, but I have to admit to being flummoxed by the many ways grantor and grantee wording can be affected. Does residence and venue of the parties come into play, or does the location of the land, just the land matter?" Steve Butala: Oh my gosh, this is PhD level stuff. Jill Dewit: "It would be nice that there was a go to source for this, but I guess I could just use the pros til I have a better feel for it." I would definitely use the pros, so you're in the right areas. Steve Butala: Oh, we're the pros? Jill Dewit: Yeah, right. Steve Butala: Okay. You know what he's asking, right? Jill Dewit: Yeah, I guess the address of where the person lives. Oh, you know what? I think I know what he's asking. Let me guess. Steve Butala: John Smith, grantor, a resident of Elko, Nevada. Jill Dewit: Maine ... Okay, Elko, Nevada, buying a property in Texas. Steve Butala: Right. Jill Dewit: What kind of deed do you use? Do you use a Nevada grant deed or do you use a Texas special warranty deed? Steve Butala: Well, we can start with that. Jill Dewit: I know. Steve Butala: Well, I think the question is, do you mention the geographic location in the deed of the resident of where the person's residing ... Jill Dewit: Nope. Steve Butala: ... or where the actual property is? Here's the answer. It's with the answer is both. Number one, the legal description smokes that out. Jill Dewit: Right. Steve Butala: The legal description's going to say Elko, Nevada. It's the northeast corner or the southeast corner of whatever. Jill Dewit: Where the property is, 'cause if the person happens to be in Elko. Steve Butala: Right. That, you get, as Jill so famously loves to say, from the vesting deed. You copy and paste that. In a lot of cases, in most cases, even if it's wrong, you just copy and paste it. Jill Dewit: Yeah. Steve Butala: The vesting deed is the immediate deed before you. Jill Dewit: That's a good tip, by the way. I hope you don't mind me throwing this in here, Steven, I've told people this too. Even if the person's name was spelled wrong on th...

Land Sales Automation (JJ 695) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Stephen Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about land sales automation. How can you make your life easy? How can you put all the stuff into a system and separate what you really need to do yourself personally and all the other tasks involved to converting land into money in your personal bank account? I feel like I might learn something here. Jill DeWit: Really? Jack Butala: Yeah. Jill DeWit: How's that possible? You're the proof. Jack Butala: That's why I learn something, because you always have a different take on that sort of thing. Jill DeWit: I'm like, what are you talking about? Jack Butala: Compliment to you. Jill DeWit: You're the proof. Jack Butala: Before we get into this, though, let's take a question posted by one of our members on the landinvestors.com online community. It's free. Jill DeWit: Okay. Axle asks, "Good evening all. Another beginner who is looking for some guidance. I have a buying website in place. I'm hooked up with [inaudible 00:01:07] Central to manage my calls and faxes. I made my first mailer and am working all the leads. All of a sudden, I get a lead on my website. I was uncomfortable with the deal, but I got the price down to negotiate an option contract. The deal is 2.4 acres X County, North Carolina with a burned out mobile home on the lot. I have the land under option for $7,000, and we're trying to sell it for $15,000," meaning option to purchase for $7,000 and then hoping to sell it for $15,000 and he'll just keep that piece in the middle there. "I do not have my selling website up yet. I have it posted on Craigslist and we're trying to get the post cleared in landpin.com. Landwatch.com wanted a monthly subscription of $60 per month for one listing per month, right? Other places I'm thinking is [inaudible 00:02:00] Trulia. Where else can I go to make this happen? Excited to have started down this path. Sincerely, Axle." Jack Butala: Okay. I have so much to say about this. I guess that's not that unusual. Jill DeWit: Ha! Jack Butala: This is a great question, Axle. Congratulations. You're jumping in both feet. Forget about the website piece. There are people in our group who don't have a website at all. They've been running their whole company for years- Jill DeWit: Off Land Pin- Jack Butala: And Craigslist and Land Pin. Jill DeWit: Yup. Jack Butala: Mobile homes with foundations, you stumbled on a diamond in the rough here. In fact, Jill and I are kicking around the idea after we get House Academy done to do Mobile Academy, and here's the concept. When a mobile home is grandfathered from a time standpoint, it has a foundation like this probably does, and it's got an old, ratty, worthless home on it, it's very easy for you, from a legal standpoint, to bulldoze that off of there and install a new one, or one that's really recent in age. It doesn't cost that much money. You can buy mobile homes really inexpensively, probably gonna cost you more to have it installed. Now you've got a brand spanking new or a late model mobile home that's fully functional and that you have,

Record Your Own Deed Stories (JJ 694) Transcript: Jack Butala: Jack and Jill here. Hello. Jill DeWit: Good day. Jack Butala: Welcome to the Jack and Jill Show, entertaining Real Estate Investment Talk. I'm Steven Jack Butala. Jill DeWit: And I am Jill DeWit, broadcasting from sunny, Southern California. Jack Butala: Today Jill and I talk about recording your own deed and all the stories that surround that. Seems to be, in particular, that topic has some crazy, crazy stories. I know I have nutty, crazy stories about recording my own deeds. Jill DeWit: Because there's always, always something that happens. Jack Butala: There's drama. Jill DeWit: It is and it's funny because I think people will talk about this more. They get unnecessarily hung up on it and it's not that big of a deal. Jack Butala: Right. There's always drama. Maybe you don't have it, but if you ask anyone if they have a good DMV story- Jill DeWit: Yeah. There you go. That's it. Jack Butala: ... it's the same kind of thing. Jill DeWit: Yeah. That's true. No one ever comes back from the DMV going, "That was great." Jack Butala: "That worked out really. That was fast." Jill DeWit: "That's how I wanted to spend my morning." Jack Butala: "It was fast, and I smell good." Jill DeWit: "And the coffee was great. And the people were pleasant and dressed well." Jack Butala: "Man, they picked a great location for this." Jill DeWit: "Parking lot's a bree ... did you know they have valet now?" Jack Butala: "Great ... great neighborhood." It's the same thing recording deeds. Jill DeWit: That's exactly it. Recording a deed is like going to the DMV. Awesome. Thank you. Jack Butala: Except the person that actually records it- Jill DeWit: Oh, my gosh. Jack Butala: ... is just power hungry. They're drunk with power. Jill DeWit: I think they're that way at the DMV though too, don't you? Jack Butala: Are they? I don't know. Jill DeWit: They're like, "You know what? If I don't push this button, you don't get this license. You better be nice to me." Okay. Jack Butala: Before we get into that, let's take a question posted by one of our members on the LandInvestors.com, online community. It's free. Jill DeWit: Okay, Fred asks, "Hello, I am learning about deed preparation and deed recording." Jack Butala: Oh, it's perfect. Jill DeWit: "And plan to use a title company for some deals. I was curious if anyone had any recommendations for a title company in either Northwest Arkansas or Park/Costilla Counties in Colorado. Thanks for your help." Well, Fred, we know where you're buying. Jack Butala: Yeah. Thanks for sharing. The first thing I do when I go into a new market ... or if I were you. Let's say this, if I'm doing one, a deal, I call the county recording and I ask them to recommend a mom-and-pop type escrow company that's in close proximity to the county seat. And they usually will say something like this, "Oh, sir, I'm not allowed to do that. I can't. That's against the rules here. We don't make recommendations.

Jack Jill Divide Conquer in Acquisitions Sales (JJ 693) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Steven Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about how we together divide and conquer in acquisitions and sales. The whole premise here, I think, is if you have the opportunity to partner up with somebody who is better at or more interested in doing one side or the other side of anything really, real estate investment wise, my opinion is you're going to do better. Jill DeWit: Well, what one person can ... I can't think of anybody that can ... You can't be perfect at it all. Jack Butala: Well, you're going to run out of a time at some point. Jill DeWit: Well, that too. Jack Butala: No matter what. Jill DeWit: Our energy and ... Yeah, I agree. Jack Butala: There's ups and downs in everything, so I just think ... I don't know. It seems to work for us. I've always had business partners in the past for things that I've done, for better or worse, but I'll tell you. It sure, I think, just from my personality, it works a lot better. Jill DeWit: Remember my dodge ball reference? Jack Butala: No, go ahead. Jill DeWit: This is how I see how we operate. It's like how you and I run our business and do things, it's like picking members of a dodge ball team. Jack Butala: How do I not remember this? Jill DeWit: Because its like ... Remember when you're in, I don't know, third grade playing dodge ball. Everybody lines up and you're one of the captains and there's the other captain and you're picking first the best players and then you got to divide up what's left over. So that's how we are. It's like if you line up everything about our business, Jack and I are pretty good. We sit there and go, "All right, you're good at that. Acquisitions go to Jack's team. I'm good at sales. Sales goes to my team." Then we get down to the crap that's left over, for lack of better words. It's like, "Well, all right. I'll handle the phones if you handle the tech piece," kind of thing. Jack Butala: Right. God, that's true. Jill DeWit: Isn't it funny? Jack Butala: Then there's that one kid at the end. Jill DeWit: Exactly, that nobody wants. Jack Butala: It'd be better if they weren't there at all. Jill DeWit: Exactly. We're like, "I'll take him today, you take him tomorrow." "Okay, fine." Jack Butala: Whats the equivalent of running a business from that? Jill DeWit: Personnel. Jack Butala: I was going to say something else. Jill DeWit: We've got a lot of people go. Jack Butala: Personnels. Jill DeWit: You know what I mean. Jack Butala: You didn't even hesitate. Jill DeWit: No, that's all I ... Jack Butala: You didn't hesitate on bit. Jill DeWit: No, stuff just happens. See? Nobody wants to do it. That's the sad thing too. I mean we got to include that kid. Come on, there's always one that can't throw a ball or can't run or something.

Best Land Sales Practices (JJ 692) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I am Steven Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today Jill and I talk about Best Land Sale Practices. I understand from right before the show you've got some good stories about this- Jill DeWit: Oh, yes. Jack Butala: [crosstalk 00:00:18] stories. Jill DeWit: I do. We had just a classic, funny caller yesterday that I can't wait to share. Jack Butala: Awesome. Jill DeWit: It was good. Jack Butala: Before we get into it, let's take a question posted by one of our members on our LandInvestors.com online community, it's free. Jill DeWit: Okay. Brian asked, "In matters where there's some question or dispute about legal egress or ingress, I always hear 'you'll need a real estate attorney', but who renders final opinion? A judge, or is it the county surveyor authority? Anyone know for California?" Jack Butala: This is an outstanding question, and easements for rural vacant land, this property type that we all are involved in here on the show, are recorded with the county, and they could be recorded over and above someone else's property that's next to yours from a county-maintained road. You have a piece of property and there's a road. Whether it's a private road, or a county-maintained road, it all starts with a county road and how to get to your property from there. Usually private roads that are recorded easements. Have you ever stopped at a road and looked right or left when you're in your car? You've seen the real estate that under large power lines? That's a huge utility easement. Picture that, some version of that type of throughway needs to get to the property. But I will tell you for our purposes, for what we do, what Jill and I do, and what we all do here ... Everybody who invests in property, don't go through it. It's a huge, big deal. Whoever said you needed an attorney is probably correct, personally, which is the reason why I would avoid doing the deal entirely. Jill DeWit: That's what I think- Jack Butala: A confident Jill agrees. Jill DeWit: Well, yeah that's a tough one. That's one of the things that I just explained to somebody the other day. That's probably the reason why it's priced this way. You're getting a rocking deal. Now, if you wan me to go through the motions to have it staked, or put in extra stuff and things like that, it's going to cost more and it's not something I want to do, so I'm going to mark it up. Jack Butala: Exactly. Jill DeWit: Or, you could do it and save some money. I had a great conversation with a guy yesterday and he's like, "Oh, I get it." I was like, "Yep." So, he's like, "Yeah, I'd rather get a good deal." I said, "Thank you. That's usually how most people think." Jack Butala: The point here is to buy a piece of property ... I'm sorry, were you finished? Jill DeWit: Well, I was going to talk about the ingress/egress thing. Jack Butala: Oh, go ahead. Jill DeWit: It's so interesting because there's so many different scenarios, depending on the state.

Marketing Land 101 (JJ 691) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Steven Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about marketing land 101, which seems really fitting, Jill, because I know you just got off the phone and sold a 40 acre property. Jill DeWit: Every time I do that, you know, I learn more about it. You know what I mean? Jack Butala: It's amazing how much you learn just from one phone call from a land buyer, even, we've been doing this since the '90s. Jill DeWit: Exactly. Jack Butala: Every single time I talk to, even a Land Academy member about their experiences. I mean, that's kind of the whole point of the show here, is to share our experiences so you can skip 20 years. Jill DeWit: Exactly, that's for sure. Jack Butala: Real quick, what happened with, I know this ... Jill DeWit: I'll tell you on the show. Jack Butala: Oh, all right. Before we get into it, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Thank you. It's on landinvestors.com, by the way, that's where you go to find this. Okay, Neal asks, "This was my first country mailer, and I think it perfectly reflects why eventually it's better to target subdivisions separately with more specific pricing." "Ding ding," to quote you Jack, Steven. Jack Butala: Well, you know, go ahead, we'll finish the question. I have lots to say about pricing and targeting. Jill DeWit: Okay, "I'm getting a good response, but one signed and returned offer in the subdivision of my choice, New Mexico, makes me think that this offer was way too high, despite it being less than the 20% of the assessed value per the county and less than 25% of the going market value general to the county on Land Watch and Land Pin" Jack Butala: I'm going to stop you right there for one second. Jill DeWit: Okay. Jack Butala: We never advocate using the assessed value for pricing. Jill DeWit: It's true. Jack Butala: Never. Assessed value is very different county to county and extremely different state to state. If you've ever looked at your property taxes on your house, you know that. Jill DeWit: They're often behind. I think they're always behind. Jack Butala: Here's the good news, you know, you got the first one out of your way. Jill DeWit: The first mistake? Jack Butala: Yeah. [inaudible 00:02:16] more people. Go ahead. Jill DeWit: Yeah, yeah. All right, "My offer worked out to be $262 per acre for a five acre parcel," so it was $1,311. Jack Butala: Not bad. Jill DeWit: "I am now trying to do my due diligence in the area and work more specific to the subdivision, but I'm also not finding any sold comps. I'm looking in Zillow, Trulia, Redfin Realtor, so it's hard to feel good about my offer price for this particular parcel, especially when it's not exactly enriched with Jack's four As." He puts in here, here's the things. "It's barren, flat with not even a bush, it looks like the parcel's locked in there, no physical barriers to the road, I don't know,

How to Price Land Offers (JJ 690) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi there. Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And, I'm Jill DeWit, broadcasting from sunny, southern California. Jack Butala: Today, Jill and I talk about how to price your land offers. Yesterday, we talked about how to price house offers. Today, it's all about land. Before we get into it, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Cool. I'm not sure who the member is. It just says, member asks. Mark. Mark asks, land contract or deed of trust in California. What do you prefer using in California and have you ever taken a property back after default? I would really appreciate some insider knowledge. Jack Butala: Good question. It's a question that we get quite often and Jill, I'll answer it, if it's alright. Jill DeWit: Please. Jack Butala: Yes, we have taken back property under a land contract and a trust deed, and both in California, I have. I'm not sure if Jill has or not. Jill DeWit: No, I prefer to just give it to them. I walk away. Jack Butala: Jill, do you want to hear ... Jill DeWit: It involves work. I'm out. Jack Butala: Before I answer this question, this is a story that Jill told us while we were still in our pajamas that we talked about. I said, "Jill, at times when we go to real estate events and things like that, you really, really, really ... I don't want to steal your thunder or anything, but there's just a lot of horsing around." She said, "Let me tell you a story." Go ahead and tell this story. Jill DeWit: He's like, "You've got to tone it down. You're just so social. There's a time ..." Jack Butala: This is, by the way, one of the things I love about Jill, I don't want to stifle any of this, but ... Jill DeWit: I got a speech. There's a time and a place for it. I said, "Listen, it is not in my nature. I've known that since sixth grade. Why do you think Mr. ... What was his name? Tinman, I think it was, put me in the back of the class and moved a bookcase in front of me, because I could not stop talking to everyone in his stupid sixth grade class." There's more to the story, but that was the result. So Jack, finally ... Finally, it's like, how long have we been together? Finally, goes ... You're asking me to do something that I'm really not sure I can do. Jack Butala: That's why I love you, for one of the many reasons. Jill DeWit: Thank you. Jack Butala: The basic difference between a land contract and a deed of trust is this. The land contract is an agreement between a buyer, and a seller on a piece of paper that says, "I agree to buy your property for X, and I'm going to pay over $200 a month or whatever it ends up being. At the end of the contract, I'm going to deed it right to you and you're going to own it." You own it the day you sign the contract and you use it like you own it, but it doesn't actually get recorded until the bitter end. That serves a lot of purposes. You keep everybody out of it. It's just an agreement between two people. If there's some trust, it works out great a lot of the time, most of the time. A deed of trust is where you bring in an unrelated third party l...

How to Price House Offers (JJ 689) Transcript: Jack: Jack and Jill here. Jill: Hi. Jack: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill: I am Jill Dewitt, broadcasting from sunny Southern California. Jack: Today, Jill and I talk about how to price house offers. There's a couple ways, and we're gonna make this brief and cut really to the chase in this episode about how to sent out a successful offer campaign to a group of offers or neighborhood that you selected, so that you can achieve the same numbers that we do for every 2,500 houses that we send offers to. We buy a house, and we flip it for a $20,000 to $40,000 bucks. We don't clean it up, we don't renovate it, we just sell it to the guy that's gonna do that. Jill: I hope I have stuff to add, Jack. This is really all you, so here's what I wanted to do on this show, please. This is all you, so I'm gonna come up with questions- Jack: Perfect. Jill: As you describing things, I'm gonna ask you. Jack: Every man's dream. Jill: Nice. Jack: Oh wait, my woman's got more questions. Let's sit down and have a cup of coffee and answer questions- Jill: Talk about it. Thank you. Jack: Before we get into it, let's take a question. Here's a question posted by one of our members on the JackJill.com online communities free. Jill: And it came from a man. Joe asked, "I've got a guy selling two adjacent partials in Elko County, Nevada. One is 2.5 ... One is a 2.53 acre parcel with a rod running through the middle of it." What about that? Okay. "It looks like there's a build able space on either side," interesting. "Either less try to grab one parcel but not the other, just get them both ..." So what is- Jack: So that's the whole question. Jill: Like a pole? Jack: Let's hold on. This ties exactly, ties exactly into what we're about to talk about. The beginning of the sentence is I've got a guy selling two adjacent properties, so I don't know how he came about this seller. If you sent him an offer, so for us in this deal, we would've sent the guy probably a $500 offer to buy each of his two and half acre properties, in which case if he signed it and sent it back, here's exactly what I would do. Go on to Parcelfact.com, which is full disclosure, a company we own, see if the property looks any good, check it for access, probably do two or three other points of due diligence like does this guy actually own it, pull a property report in Real Quest Pro, bang, bang, bang, it's about four minutes later, and I've made up my decision. I don't talk about rods or try to negotiate the deal. This is where everybody gets hung up in this whole industry. I don't question myself, I don't care 'cause I'm gonna be out $1000 if I'm wrong, which by the way, we've almost done 16,000 deals and I can count on both hands the times I've been wrong about this. So this old adage of get to know the piece of real estate intimately and everything about it so that you can maximize price when you sell it, throw it all away. You're never gonna make dough in land. If you look at every piece of every asset [crosstalk 00:03:11], you talk about your rod, your rod doesn't matter. Even though Joe, you think it does. Jill: I am holding back, I am not gonna say it 'cause I know we're E for everyone. Somewhere there's someone driving in a minivan with kids in the backseat- Jack: That's right.

List of Ways to Acquire Undervalued Property (JJ 688) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to The Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I provide a list, a comprehensive list, of ways to acquire undervalued property. Then as always, give you our opinion of the ones that have worked best for us over the last 20 years, seriously. Jill DeWit: That's what every woman wants to hear, every man wants to hear. "I'm going to tell you this, and then I'm going to give you my opinion." Jack Butala: How should it go? Jill DeWit: I don't know, it just- Jack Butala: Seriously. How do you get a girl? Jill DeWit: Not that way. Jack Butala: Tell us how. I want to know. The whole world wants to know this, Jill. Jill DeWit: Oh, my gosh. You don't give your opinion. Okay? Let's just talk about this. When we come to you and ask you a question, we do not want your opinion. We only want you to support us. Period. Jack Butala: Like, "Does this property make me look fat?" Jill DeWit: Bigger than that. Like, "Sweetheart, I don't know. What do you think about this diamond?" "Oh, Babe, you need bigger." We want you to be always positive, always building us up, always tell us we're beautiful and smart. Not like- Jack Butala: What if it's not true? Jill DeWit: "You know, that really does not go with your hair color." Or, "Why did you buy that car?" Or, I don't know, we- Jack Butala: Are you speaking from experience here? Jill DeWit: Oh, my gosh, yes. Jack Butala: I mean, recent experience? Jill DeWit: Oh, my gosh, yes. Jack Butala: What the heck? Jill DeWit: Jack, I love you. Okay. No, not recent. I'm just kidding on that. Jack Butala: I don't think so. Jill DeWit: There's times that- Jack Butala: I don't think you're kidding. Jill DeWit: A lot of them, we really don't want your opinion. I'll just leave it at that. We want you to help us justify our decisions. That's it. Jack Butala: What if you're standing by, as a man, and you're watching it all headlong into fireball of disaster. Jill DeWit: Yep, let me go. Oh, my gosh. Because, if you don't let me figure that out on my own, you're the bad guy. Jack Butala: What the heck? Jill DeWit: It's the truth. Jack Butala: As a civilization, we've been around for so long, how do we even survive together? Jill DeWit: I don't know, but you need to let me just ... if I'm going to make the mistake, let me do it. Jack Butala: Oh, now it's becoming personal, too. Jill DeWit: No, I don't mean me. Jack Butala: I think you do. Jill DeWit: No, as a woman. Anyway. Jack Butala: This is a talk to another show. Jill DeWit: Yes, it is.

Price of Everything Goes Up While Wages Stagnant (JJ 687) Transcript: Jack Butala: Jack Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show. Entertaining real estate investment talk, we hope. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from so-so sunny, partly cloudy southern California. Jack Butala: Today, Jill and I talk about the price of everything seems to go up. Well, it actually does go up, while wages and how much money we all make seem to stay stagnant, unless you're a real estate investor. Before we get into that, though, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Okay. Matt asks, "Hello, all. I'm conducting due diligence on a five-acre property I'm looking to purchase from a lady who has owned it since 1987." Jack Butala: I like where this is going, Matt. Jill DeWit: "Upon looking at the vesting deed, which is the last recorded deed, I noticed that at the bottom of the deed, before the signatures, that her purchase of the property was subject to a real estate contract the previous owner was paying on, and that the buyer, the lady who is currently selling it to me, would be assuming this contract. It appears that-" Jack Butala: Right on the deed, huh? Jill DeWit: Right above her signature. I haven't seen that. Jack Butala: You never see it on the deed. Jill DeWit: "It appears that she was purchasing the property from her parents and assuming the land contract." That makes sense. "The owner of the contract was a single guy. I searched the county records to see if there's anything recorded that shows this contract had been satisfied, and wasn't able to find anything." Boy, Matt, by the way, I want to say I appreciate you doing your homework on this so it doesn't come back to bite you. Jack Butala: Me too. What a bright approach to this. Jill DeWit: "I asked the seller about it. She told me that she was finished paying on the contract a long time ago- Jack Butala: I believe her. Jill DeWit: ... but because it was so long ago, she didn't have any documentation that could back it up. Does anyone have any idea ... " Oh God, I can't believe she didn't keep her receipt. "Does anyone have any ideas on how I could go about circumventing this issue? I don't believe that there's a big risk of the contract not being satisfied. However, I am not sure what is the best way to clear up title. Any suggestions would be greatly appreciated." Jack Butala: What do you think, Jill? Jill DeWit: You know, my first thing would to do would be to really try to find the company. My first thought, and the easiest thing would be to find the company who had issued the land contract. Fingers crossed they're still in business, ask for a document from them. Just say "Hey, would you guys mind sending a one page thing? I will even draw it up for you. At this property that everything's been satisfied, she doesn't owe you anything. Have a nice day." And have them sign it. Then submit that. Jack Butala: I think, Matt, you found a little gem here. In this business all kinds of owners respond to the letters that we send out. Some of them have really easily solvable problems, so you can turn a huge profit. These little tiny problems that some other buyers may have seen as "I'm just going to move on. I'm not going to buy it. I only want a perfect deal." I think you found a situation here where, because of the age,

Everyone Needs a Place to Live (JJ 686) Transcript: Jack Butala: Jack Jill here. Jill DeWitt: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWitt: And I am Jill DeWitt broadcasting from sunny, southern California. Normally sunny, not today. Jack Butala: It is stormy and yucky today. Jill DeWitt: It's like I love it. Jack Butala: Today, Jill and I talk about, everybody needs a place to live. And what does that mean to us real estate investors? I can't wait to talk about this because something that's so simple. You can really capitalize on it as a real estate investor. Especially in land because we don't go look at the property. We don't touch the asset. We don't care. Jill DeWitt: Does that mean we have a better perspective on it? Jack Butala: It means that we have a way larger area to choose from as real estate investors versus the house people and your apartment people and all of that. We can cover the whole country and Canada. Jill DeWitt: That's true. Jack Butala: With the data that we have. Jill DeWitt: True. So when you're talking everybody needs a place to live for this show, you're talking land still or are you going to spill into houses and cover it all? Jack Butala: I'm going to spill. Jill DeWitt: Okay. Jack Butala: We're going to spill. Jill DeWitt: You like my choice of words there? Jack Butala: Yeah. Jill DeWitt: Okay, thank you. Jack Butala: Before we get into all of that, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWitt: Okay. Joe asks, "Hey everyone. So it sounds like I have a buyer who wants to offer on 160 acres in Alpine County, California. I have optioned the current owner and I have listed it for sale." Awesome. Jack Butala: Yeah. Jill DeWitt: "The buyer has a real estate agent which is fine since it's almost a $200,000 sale." Wow. "The agent says that she can't make an offer to anyone except the owner of record." Jack Butala: And your agent's correct. Jill DeWitt: "This being the gentleman who has signed the purchase option with me." Uh-huh. "So this is my question. Has anyone run into this in the past? Is there a way she needs to phrase the offer letter? Another thought was I never recorded the option with the county. Is this required? Any help from people who have successfully complete purchase option sales would be greatly appreciated." Jack Butala: Here's the real important thing here, Joe. You cannot represent an owner of a piece of real estate in the sale or purchase of it unless you have a license. And if you've listened to any other episode on this show, we're not big not fans of real estate agents in general. So, this is not something you want to test or get around or manipulate. You want to do the right thing. There's a system set up this way for a reason. And believe me, it's to our advantage. Our advantage as unlicensed real estate investors. So you have a couple options here. Number one, you can ante up, buy the property yourself for less than $200,000 bucks and then resale it to this person. It doesn't sound like that's an option to you, that's why you set up an option. However, if you have a contract in hand,

Same House Costs Way More in Different Markets (JJ 685) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I am Jill DeWitt broadcasting from sunny southern California. Jack Butala: Today Jill and I talk about why the same house costs way more in different markets. I just learned this myself, and that's why I decided to do a show about it- Jill DeWit: Thank you. Jack Butala: ... because I was floored. Jill DeWit: Thank you. Jack Butala: I was very, very, very shocked at the relationship between the balance sheet and then how much money people make and the real estate they live in. Jill DeWit: I thought there was something more to it, too. Jack Butala: It turns out it's really quite simple. Jill DeWit: Yup. Super interesting. Jack Butala: Before we get into it, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: You know what, Jack, that's a lot of life. We build up these things in our heads, that it's a big deal, and it's really not that big. Jack Butala: Right. Jill DeWit: It's like nah. No, that's the reason why, that's it. Jack Butala: Yup. Jill DeWit: Really, that's all. All this time =I thought I was missing something. Nope. Jack Butala: You know, I want to talk about this. Jill DeWit: Thank you, Jack Butala: I should do it right now. Jill DeWit: Okay. Jack Butala: What's the opposite? So, usually I go into things. What's the opposite of what you just said? Jill DeWit: You think it's too easy. Jack Butala: You get into something- Jill DeWit: You go, "Oh, I got this". That's the opposite. Jack Butala: If they get into something, and they're like, "That was worth it, that was fantastic, I'm so glad I did that. It wasn't hard, the outcome was great, it's exactly what I planned." Has it ever happened that way? Does anything every happen that way? Jill DeWit: Yeah. Jack Butala: What? Jill DeWit: Us. Jack Butala: Marriage? I don't think so. Kids? Jill DeWit: I don't know. Jack Butala: When you line buying and selling real estate up, successfully, against having kids- Jill DeWit: Mindset Jack Butala: ... and marriage and all of it, it's so much easier. Jill DeWit: Mindset. You know what, I swear it's mindset. We all have to do the same things. We all have to get up. Everyone who has children has to make sure that they're fed and their healthy and they make it to school and they have clothes and their shoes fit and whatever. We all had to do the same things. Be honest. But some people whine about it, and some people got it. It's a mindset. Jack Butala: Yeah. Jill DeWit: You know, honestly this a little insight to me, when my kids were little, our kids were little and I was a mom, I thoroughly enjoyed it. I enjoyed the walk to school with the kids.

Finding a Money Partner (JJ 679) Transcript: Jack Butala: Jack and Jill here Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show entertaining Real Estate Investment Talk. I'm Jack Butala. Jill DeWit: I am Jill DeWit broadcasting from sunny Southern California. Jack Butala: Today Jill and I talk about finding a money partner. It seems like a simple thing, and it can be simple, but people avoid it. I wonder why. It's not real complicated. Jill DeWit: Isn't that funny? People have deals and I think that they go, "Oh, I don't have enough money, I can't do these deals," instead of going, "Wait a minute, I need to find a partner to get this done because it is that good of a deal." Jack Butala: That's a [crosstalk 00:00:32]. Jill DeWit: That's what the thought process should be. Jack Butala: It never stopped Bill Gates, it never stopped anybody. Jill DeWit: That's true. Jack Butala: Any iconic business person, without exception, did not have the money to start their own company. Jill DeWit: Right. Jack Butala: They sought it from somewhere else. Jill DeWit: Exactly. Jack Butala: For whatever reason, we don't talk about it that much. Not us, but we don't talk about who's the money behind that whole thing? Jill DeWit: That's funny, and they don't realize that the people that have the money, want to spend the money, they're looking for them. Jack Butala: I know. That's truly what this show's about, Jill. I'm glad you brought it up. Jill DeWit: Thank you. Jack Butala: People who have money would love to hear from you if you have a good real estate deal. Jill DeWit: They want their money to be more money, huh. [crosstalk 00:01:08] thought. Jack Butala: They don't really wanna find a real estate deal themselves. Jill DeWit: Right, they'd just rather sit back and let you invest their money and make a profit. Everybody wins. Jack Butala: Here's a key point we're gonna talk about today: trust. Before we get into that, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay, Brian asks, "I am drafting the terms for a purchase agreement for vacant land sale deals for a portion of the sale amount I will finance to a buyer. My question is regarding the potential buyer default. What time period can I list for a default period on the loan before I dissolve the agreement and the property reverts to me? These properties will be all vacant parcels at the time of sale. I imagine this becomes complicated, the parcels are primary residents by the time of the default. I notice that most of the contracts like this I've seen don't address this issue, perhaps there's a reason for that. As an addendum, can I stipulate that no permanent development can be allowed till a certain percentage of the loan is fulfilled?" Jack Butala: This is a brilliant question. Jill DeWit: Yeah, that was a good idea, too. Jack Butala: It's perfectly crafted, Brian, thank you. I really appreciate that. May I, Jill? Jill DeWit: Mm-hmm (affirmative). Jack Butala: All states are different, first of all, so the answers to most of these questions can be...

Lease or Buy Primary Residence (JJ 678) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny, soon to be rainy, southern California. Jack Butala: Today, Jill and I talk about leasing or buying your primary residence. Seems like a simple thing, but it really can trip you up. Jill DeWit: Oh my goodness. Jack Butala: At any point in your life. Jill DeWit: It could sink the ship for some people. Jack Butala: Have you heard of this term, "house poor?" Jill DeWit: Yeah. Jack Butala: I've known people that are just house poor. They purchase such an expensive house that they don't have any money left for anything else. Jill DeWit: I know. Jack Butala: Including real estate investment. Jill DeWit: Where did they get that advice? Where does that ... I know people, too, they think that they've, for some reason in their heads, they have to sink every last dollar into it because, "Oh, it's pay off some day." Jack Butala: Right, or it's the best investment. Well, we'll talk all about it. Before we get into it, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Okay. Shea asks, "I haven't done my first deal yet, so I apologize if my question seems naïve. I got a call regarding a property that is rural desert area. The lot in question is three acres and sits catty corner to a lot about the same size that is occupied. Like many people who actually make their home this far out from town, satellite images show that they have made full use of their property and have various outbuildings, derbies, I don't know what ... couple of broken down cars, and overall looks somewhat junky." Jack Butala: That's a really nice way to put that. Congratulations, Shea. Jill DeWit: Right? Jack Butala: There's a bunch of stuff everywhere. Jill DeWit: "While I've seen worse, I'm concerned about its proximity to the property that I'm looking at making it unsellable. On a scale of one to 10, one being tidy and 10 being a rotting junk heap"- Jack Butala: One being Jill, 10 being me. Jill DeWit: What? No. No, no, no. "I'd call this one a strong seven. I guess what I'm asking is when you guys are faced with this situation, how do you approach it? What kinds of things do you look for? What would kill the deal? How do you address the issue with the seller if you already have a signed offer? I know every case is different and I'm actually buying this property at a discount, but I'm obviously concerned about my ability to resell it. Even at a discount, do people still want properties next to junky neighbors, or am I just opening myself up to a headache? Thanks in advance." This is a common, common, very good question. Jack Butala: It's a great new person question, and I have a to to say about it, but I'm gonna let you go first. Jill DeWit: Oh, I was gonna let you go first. Jack Butala: Oh, okay. This is an attribute, not a problem. The only reason that you wouldn't buy property, let me put it this way. When you're buying rural, vacant property,

Real Estate Investment Advice (JJ 677) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I am Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about real estate investment advice. The most common questions that we both get will be answered here. Jill DeWit: This is going to be good. Jack Butala: It really is. I hope it's going to satisfy some of the most basic questions, like if you're a listener and you've never really engaged in any of this but you feel sorry for us, and you still have some questions about real estate in the back of your head ... Jill DeWit: Feel sorry for us. Oh, my gosh. You're listening out of pity. What's that? Jack Butala: That's what the show's about today. We're going to answer some of the most frequently asked questions that I get and that Jill gets, and we have not shared each other's lists so we don't ... Maybe we have all the exact same questions. I doubt it. Jill DeWit: I don't think so. Jack Butala: That's never happened to her. Jill DeWit: Do you know what's funny? I don't want to make anyone not feel good about themselves, but they think that, they're like, "Oh, this is stupid." You know what? It's true. They always think, "Oh, this is dumb. I'm sure you've answered this a thousand times." Sometimes, I've never heard them. I've had some really good questions come to me and I'm like, "That's a good one and I can help." Then there are some that they're happy to know that they're not alone. People think that. Jack Butala: Yeah, that's in our slogan. Jill DeWit: This is true, and that's part of it. A lot of people don't realize that they're not alone in this, that it's just ... Jack Butala: Sometimes there's such thing as a really stupid question, though, quite honestly. Jill DeWit: Sometimes there is. Jack Butala: It usually has nothing to do with real estate. Jill DeWit: This is true. Jack Butala: It has to do with psychology. Jill DeWit: This is true. Jack Butala: "Why can't I get the first deal done?" Those are the kinds of things. There's answers to this. That's not necessarily a good example, but it has nothing to do with real estate. That's actually inspiration, for you. Jill DeWit: That's where I come in. Jack Butala: All right. Jill DeWit: Okay. Jack Butala: Before we get into all that, let's take a question, posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Brian asks, "Wondering how people doing deals in California that are offering owner financing are getting their third-party trustees. Title companies? What if you aren't using a title company?" Jack Butala: That's an issue. Jill DeWit: "Any loan servicing companies that you would like to serve as a trustee?" Jack Butala: This is a very, very good question. It's the exact opposite of a bad question, like we were referring to earlier. Jill DeWit: Exactly. Jack Butala: What ends up happening ... There's two types of ways to seller finance property,

Jack's Agent Sister Ann Portner Interview (JJ 676) Transcript: Jack Butala: Jack Butala here. Welcome to the Jack Jill show. Jill is on a short vacation, having fun with her family in Seattle, and I chose to take advantage of a special situation today and interview my little sister [Anne 00:00:16] Porter from northern Michigan, who we've talked about constantly on the show over the last couple years and touted her as a successful real estate agent. I'd like to find out if she really is. This is entertaining real estate investment talk. I'm Jack Butala with my little sister Anne from sunny southern California, and today we're gonna be talking about being a successful real estate agent. What does it take, Anne, and welcome. Anne Porter: Hi. Thanks for having me. Jack Butala: What's it take to be a real estate agent, a good one? More importantly, why do so many suck? Anne Porter: Two big questions there. Jack Butala: You don't get to do this twice. I know I'm putting you on the spot. Anne Porter: Communication. That's the key to- Jack Butala: Communication? Anne Porter: Communication. Jack Butala: Give us an example. Anne Porter: Well, people like to hear what's going on. If you got their house listed, you want to know what's going on. Jack Butala: Communication. Answer your phone. That's what we've been saying for years, Jill and I. Anne Porter: That's a huge gig. Jack Butala: Why don't real estate agents answer their phones? Anne Porter: They're afraid. They're afraid of communication. Jack Butala: They're afraid of what. Anne Porter: Of the communication. I'm not doing enough- Jack Butala: So, they think they're not good at it? Anne Porter: Yeah. Maybe that's it. Maybe their confidence is not there. Maybe they're not doing enough. Jack Butala: All right. So, is the system broken? We talk about how the system's just broken all the time. Anne Porter: I think the people that are involved in the system are broken. That's what I think. I think if you're good at what you do, then the system's not broken. It can be used appropriately. Jack Butala: [crosstalk 00:01:51]. Just like anything, you gotta use the tools that you have. Anne Porter: That's right. You use them to the best advantage. We got a boatload of tools out there that can be used. Jack Butala: Like what? Anne Porter: But nobody takes advantage of them. Jack Butala: Oh, this is great stuff. So, like what? What kind of tools do you have that people are under utilizing, you know? Like a cell phone? Anne Porter: Like a cell phone. Used to communication. Texting, email, ways to communicate, ways to show that you're actually doing something, ways to enhance what your value is to a seller or a buyer. Jack Butala: So, what is the value that you bring? I know you're super successful. I think you said earlier in the vacation you're top 5%, right, in the country? Anne Porter: Mm-hmm (affirmative). Mm-hmm (affirmative). Jack Butala: So, what is it? That's [crosstalk 00:02:30]. Anne Porter: In Coldwell Banker. Jack Butala: Every listening wants to know, why? What is it about you?

Would you Want to Buy it? (JJ 674) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I am Jill DeWit. Broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about, "Would you want to buy it?" Jill DeWit: (laughs) Jack Butala: (laughs) 'Cause if you- (laughs) Jill DeWit: (laughs) Sounds like, "Are you my mother?" (laughs) Jack Butala: (laughs) Would you kiss that girl? Jill DeWit: Oh. Right. Jack Butala: Would you drive that car? Jill DeWit: Right. Jack Butala: I'm telling you, if you buy a piece of real estate, and you're like, "I'm just buying it to resell at the end." I wouldn't buy that. Jill DeWit: This is fun. We can talk about every single property type- Jack Butala: Furniture, everything. Jill DeWit: And give a good example and a bad example, and everybody's going to go, "Duh." And you know what the reality is? People don't get it. Jack Butala: It sounds like a lot of fun, actually. Jill DeWit: It sounds so [inaudible 00:00:44] Jack Butala: Before we listen to Jill rant, let's take a question posted by one of the members on the JackJill.com online community, it's free. Jill DeWit: Okay. Joshua- Jack Butala: I know, I have some rant in me. Jill DeWit: Oh, I got some stuff. Joshua asked, "Hey guys, so I was getting ready to send out an option agreement to my seller, but I went ahead and started marketing it already on Craigslist. I have a buyer who would like to buy on terms, so I call my seller and offered the same option we discussed, or I went ahead and offered a discounted cash offer. She's talking to her two children because they are the ones who will be receiving the money. I haven't done the deal yet, but I learned about options and terms with mobile homes in the past. Any tips on how to go about handling a deal this way? Also, I just sent out two payments to buy two and a half acres for $500 in California." Jack Butala: Outstanding. Jill DeWit: "This one seems to be a home run deal for my first one, too. I believe one of our group members has sold land here in the same size in the same subdivision for $4,000. So, I'm going to follow in their footsteps with the price point. Thanks again, everyone for the help. Much love." Jack Butala: Outstanding. Good stories. Jill DeWit: Really cool. Jack Butala: On this mobile home thing, what would you do, Jill? Jill DeWit: I'd buy it. Jack Butala: So would I. Jill DeWit: I mean, here's my thing. There's no way I would ever be in the situation where I'm making payments and the people are making payments to me. Jack Butala: Right. Jill DeWit: I just won't do that. Jack Butala: That's called a wrap. Jill DeWit: One, it's just like, it's called a headache. (laughs) Jack Butala: (laughs) Jill DeWit: I don't want to do that much monitoring and managing this stuff, if they're on auto-pay to me and I'm on auto-pay to that guy, I'm just not going to do it. Jack Butala: Nope. Jill DeWit: One, it's too easy for one of them to get messed up and it's usually the guy paying me and I'm still making the auto-pay, and I don't realize it until much later. Like, shoot, I owned a campaign for a property I don't own. It's just a disaster. Jack Butala: We're all fortunate enough to be a part of this group, and there's lot of people in the group who have lots of money. Jill DeWit: Yup. Jack Butala: So, if you, for whatever reason,

Tell Stories in Land Postings (JJ 673) Transcript: Jack Butala: Jack and Jill here! Jill DeWit: Hi! Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill Dewit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about telling stories in your land posting. It's really actually how you sell real estate, put this subcategory or sub asset of real estate anyway. Jill DeWit: Mm-hmm (affirmative). Jack Butala: Paint a beautiful picture. If you, as the story teller or as the lister or the seller of your own land, really question whether or not at the end of your posting, "Boy, this sounds so good. I really wonder if I should sell this thing." Then, you're doing your job. Jill DeWit: I think it starts even when you buy it. When you're looking at the asset and you're deciding whether or not to purchase it ... if you don't do this, you should be doing this. Jack Butala: Do you ever really ... decide you're gonna sell a car and you get it all cleaned up and and it's like, "Man, I should keep this." Jill DeWit: Right. Jack Butala: That's the feeling you're looking for. Jill DeWit: Right! So, you're already starting, when you're buying the property, you should already be thinking about what the end use is. Jack Butala: Right. Jill DeWit: And that's how you're gonna paint the picture of the story. Cause you're gonna know that ..."You know, wow, this is an interesting acquisition. This would be great for selling to people that I've talked to that love to hunt and find deer." You know that. You're already thinking about how you're going to tell that story and post the property for sale. Jack Butala: Right. Jill DeWit: And get other people excited. Jack Butala: Before we get into the details, let's take a question posted by one of our members on the jackjill.com online community; it's free. Jill DeWit: Cool! Matt asks, "I was recently scratching my head as to the low turnout of a recent mailer. I close on two properties out of 800 mailers." Jack Butala: Hold on a second. (laughs) Jill DeWit: I know. Jack Butala: How is this a low turnout? 800 mailers by my calculation costs about $300 to send out from start to finish, and you bought two properties? Let's read on. Jill DeWit: Mm-hmm (affirmative). "I offered $4000 in an area where market value is somewhere around $18,000, so I should have presumably been able to get .521% I would think, which is 4-8 properties. I'm selling one of the lots now, and the buyer actually owns another lot in the subdivision, and she mentioned, 'I've received two letters and a postcard in the last year or so.' Sure enough, one was mine hahaha", that's funny, "so, clearly, someone beat me to it, which is fine. I still will pick up a few lots and move on with my life. Now I'm curious if anyone has a trick to check the sold comps to see if one name or LLC has made multiple purchases in the past year or two. I presume that the lots won't still be in their name. If they are any good, they will have sold them by now, but picked off the motivated sellers in the process. Does anyone screen this kind of thing? Or just price your mailer and move to the next mailer?" Jack Butala: Would you like to answer this first? Jill DeWit: Okay.

Easy Land Internet Checkout (JJ 672) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I am Jack Butala. Jill DeWit: I am Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about easy land Internet checkout experience for your customers, and why it's important. Jill DeWit: It's easy for them, it's not so easy to set up sometimes. Jack Butala: You know, the good news is you're right, but the good news is you only have to set it up once. Jill DeWit: That's true. Jack Butala: One time, and it applies to everything. Jill DeWit: It's so worth it. I gotta tell you, this is one of those things that ... I mean, I'll be honest and we'll share this. There are some hoops you gotta jump through, and I want to properly convey what's involved here, but then we're going to share why it's so important. I think people don't believe that this really happens, and I want to share some stories about when it really did happen. Jack Butala: Exactly. Jill DeWit: Thank you. Jack Butala: What Jill's saying is there's a really beautiful ending to this story. Jill DeWit: Yeah. Jack Butala: The good news is we've figured it all out, we're going to explain why it's so important, and then tell you exactly where to go and what to do to make your land/checkouts ... customer experience when they purchase land or down payments on houses, even. Jill DeWit: Yeah, it's ... I mean, imagine. It's like, someone says they add this to your cart, and it's 40 acres, and they add it to their cart, and then they check out. That's what we're talking about, and it really does happen. It's cool. Jack Butala: Before we get into the details of all of that, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay. Brian asks, "Hello everyone. I recently sent out a mailer and received a purchase agreement with a property owned by an individual within an Indian reservation on RealQuest Maps. The owner of all surrounding properties is listed as 'Colorado River Indian Reservation.' My questions are: 1. Can Indian reservation properties be purchased? 2. Should I purchase? 3. Thanks for your help. Brian." Jack Butala: Good question. Good basic question, Brian. Jill DeWit: Is this legal? Should I do it? Jack Butala: So here's what happens. The only way that a county can make a property taxable so it starts to receive property taxes by assigning an APN, an Accessories Parcel Number. Think of a developer who goes through the process, who buys 40 acres on the edge of town, and then puts roads in and maps out a plat map, or 50, 60, or 100 or some number of houses are going to be built. When he took the property it was 40 acres, it had one APN before he did this, and now it's got 100 APNs. That's the same thing that happens when you're on the edge of a Native American reservation. It's the same thing that happens when you are on the edge of a mountain. A lot of times they are incorrectly plat mapped by the assessor at the time. They're human. They make mistakes. I just read a story ... in San Francisco, all the streets have APNs, and no one should own the streets. The municipality should. So, it's a real problem because no one pays the tax ... whoever owns them, they stop paying the taxes,

Land Academy Described (JJ 671) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about Land Academy Described. Jill DeWit: Are you making fun of my enunciating? Jack Butala: No. Jill DeWit: Oh. I thought you were. I started to slow down and enunciate my name, and you're like, "Today we talk about" ... Jack Butala: This is show 670. I'm on autopilot. Are you? Jill DeWit: Oh, I guess you are. Isn't that funny? Jack Butala: Before we talk about deep thoughts- Jill DeWit: Oh no. Jack Butala: Let's take a question posted by one of our members- Jill DeWit: Oh no. Jack Butala: From the jackjill.com online community. It's free. Jill DeWit: Okay. Thank you Jack Handy. Jack Butala: It's not good when she says "oh no" this early. Jill DeWit: Oh, goodness. Okay. So, we have a question and we have one our people started to answer it. So, this is cool. Milan asks, "Is this a common practice? I'm buying 80 acres from a seller who bought the land on a tax sale. Title company doesn't want to issue title insurance because of that. Obviously the owner owns the land free and clear and bought it 20 years ago. Would you guys still buy this property if it's not insurable? That also makes you wonder if that issues goes away if I buy it from him, which means the last transaction is not a tax sale transaction. Thanks for your opinion, land rock stars." Jack Butala: So, we have another member who piped in and actually answered the question, but before Jill reads that, let me explain it in real simple terms. There's tax sales all over the country constantly, just like you see on late night TV. They're not as easy or simple or most of the time prosperous as you see on these infomercials in the middle of the night, but it's very possible to purchase 80 acres just like this person's saying on a tax sale, especially out west, for two or three or four or $5,000. People have been doing it for a really long time. So in this case, this guy is purchasing a property from somebody who bought it at a tax sale a lot of years ago. They issue was called a treasurer's deed, or depending on the municipality, it's usually a treasurer's deed or some version, or tax deed, let's just call it a tax deed. Title insurance companies do not want to insure against this. I'm not sure why. Jill DeWit: It's the funniest thing. Jack Butala: But it is what it is, so he's asking, what do I do? The plain and simple answer is you quiet title the property, or back east, it's called adverse possession of the property. You have to go through a bunch of legal proceedings, literally put it in the newspaper, put notice in, and at some point, they're gonna, somebody, which makes no sense, the taxing authority who issued the deed in the first place, which issue a "marketable title." That's the meat of this whole thing. So, he's asking, what do I do? How do I get title insurance? Jill DeWit: Okay. Jack Butala: Just took a little nap. Jill DeWit: No, it's all good. All right, you- Jack Butala: It's important to know all this stuff.

New Podcast Content Ideas (JJ 670) Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill show, entertaining real estate involvement talk. I'm Jack Butala. Jill DeWit: And I'm Jill Dewit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about new podcast ideas. There's no meat to this show. Jill DeWit: No, but it's good talking about the process and how we pick topics and how much that goes into them, because there's a lot. Jack Butala: Yeah, you're right. It's fun, mostly. Jill DeWit: It is, yup. Cool. Jack Butala: Before we get into that, though, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Okay. Jared asks, so this is awesome, he's leading into and getting a head start on House Academy is what this sounds like here. Jared says, "I have a buyer for some SFRs," so single-family residences, "but I'm not sure how to get the data that would let me know that the sellers don't have any mortgages. I looked in TitlePro247 and Real Quest Pro. In TitlePro, if I set the mortgage amount to zero, it returns zero results. The same is true for RealQuest Pro. Any advice on how to scrub out the houses with mortgages on them in the data pull? My assumption is that I would pull sale dates between 20 years ago and older, I assume, and assume if there hasn't been a sale in that amount of time, either the property's paid off or the mortgage is really low." I like where his workaround- Jack Butala: Well, and he's right. Jill DeWit: That's a good workaround. Okay, if they've done it, they've been paying for it for over 20 years, maybe it's almost done. So, that was awesome. Jack Butala: Jared's 100% correct in every statement that he made here. In Title Pro, zero sets it to zero, and on and on. RealQuest and TitlePro are overlays for datasets. DataTree, which is First American Title's data arm, pulls mortgage data, actual data on the [inaudible 00:01:57], from other sources, which is what we use. DataTree will be the dataset that's included with House Academy. Jill DeWit: Mm-hmm (affirmative). Jack Butala: So, your workaround is exactly what he explained. We've used that in the past, where you just look at the age of the mortgage or the age of the house that's purchased and kind of assume that, well, there's a good chance that they didn't refi, or, what. You're still just kind of throwing a dart at the board. The absolute best way to do it is with DataTree, and again, it comes with the subscription when we release House Academy. It's a whole different world in there. It's 21st century. But until then, you've gotta do it this way, the way that he described. Jill DeWit: Yeah, stay at it. Jack Butala: And it works. Jill DeWit: We'll hook you up, Jared. When we have a House Academy. Jack Butala: Yeah. It works. It actually works. Jill DeWit: Mm-hmm (affirmative). Jack Butala: But it's just not as accurate. Jill DeWit: Right. Jack Butala: Wouldn't you like to just throw at the board and hit the center every single time? Jill DeWit: Wouldn't that be nice? Jack Butala: That's DataTree. Jill DeWit: I know there's other things that you can pull in there,

Infill Lots or Large Acreage? (JJ 669) Transcript: Jack Butala: Jack and Jill Here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill show, entertaining, real estate, investment talk, I'm Jack Butala. Jill DeWit: And I am Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about info lots or large acreage, which one, which product type works better for you. Which one makes more money, which one's easier to deal with, what attracts more buyers. Jill DeWit: What are the differences .... Jack Butala: Yeah, I feel qualified, and I'm sure Jill does too, to answer .... to tell you what we think. It rarely translates .... Jill DeWit: You know, that's one thing that's so great about you Jack. You never, don't have an opinion, I just want to say that. That's double negative but, you're really good .... Good, bad or otherwise- Jack Butala: Yeah. Jill DeWit: .... sharing your opinion. Jack Butala: Yup, yeah the good thing or good news is that, you know people can turn this show off. Jill DeWit: Well, that's true, well I was gonna give another positive, which is people .... you know where you stand, but you know- Jack Butala: That's true. Jill DeWit: There's no wishy washiness about you Jack. You know, there's no "Gee did he .... what did he mean, was he being sarcastic? Oh no, that was legitimate, if he looks pissed, he probably is". Jack Butala: There's a compliment in there somewhere. Jill DeWit: There is. Jack Butala: Or maybe not, I don't know we'll find out in a minute. Jill DeWit: Ha, okay. Jack Butala: Before we get into it, let's take a question, posted by one of our member's on the JackJill.com online community, it's free. Jill DeWit: Okay, Jordan asks "So I recently purchased a parcel of land that .... of Jack's four A's, which we'll cover in a second. Really only has one .... only has acreage, and could be sold for a relatively small amount of money. As I was able to purchase it for very little, but other than that, admittingly doesn't have much going for it". Jack Butala: So my four A's, before Jill continues her question are: Acreage, every time you look into a property, you check for the four A's. So does it have acreage? More is better, this is for land only. Does it have affordability? Cheaper's better. Jill DeWit: That's number two. Jack Butala: Does it have access? Jill DeWit: That's number three. Jack Butala: Can you get to it, and number four is, attributes. Is it close to the Grand Canyon? Is there a working ranch next to it? Is it there .... Is there mountain views? Anything that makes it- Jill DeWit: .... Heavily tree'd. Jack Butala: Yeah, any of those things. Jill DeWit: Some kinds of cool attribute. Jack Butala: Camping spot. Jill DeWit: Exactly. Jack Butala: Mobile lot, all that stuff so, he checked for his four .... The four A's and only had one, acreage. Jill DeWit: He chose acreage, well, you know what, I'ma say it technically kinda has two. It's got acreage and affordability where we're going with this, so let me .... I'ma continue on.

We are in for the Long Haul Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I am Jill DeWit broadcasting from sunny, southern California. Jack Butala: Today Jill and I talk about how we are in it for the long haul. Those specific signs that you just know that you've turned the corner. You've done a few deals and you're in it for the long haul. Jill DeWit: I thought it was going to be about Jill, are you wearing the data is the new bacon t-shirt again? Because you're just so in love with data now which I never was. Jack Butala: That's one of the signs. Jill DeWit: Thank you. Jack Butala: Did you ever hear those jokes like you might be a redneck. Jill DeWit: Exactly. Here's how I know. Every vacation is not really a vacation. It's just ... Every vacation is not a vacation. It's only a new area to check out property. Jack Butala: That's what it is. That's one of my signs. Jill DeWit: We haven't scoured this area yet. I didn't know we'd be looking at property here Mazatlan but I guess we are. Jack Butala: It's just a new data set. Everything's just a new data set. Jill DeWit: Exactly. Hey Jill, while you're in Seattle next week, will you please drive by these locations for me and take some pictures? Yes. Jack Butala: You know it's funny you bring up Seattle. It's one of the lowest days on market environments in the country. For some reason, they can get deals done in Seattle, house deals, in six, seven, eight days. Jill DeWit: Here it comes. I'm waiting for it. I'm going to be there. Jack Butala: Before we get into it, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Okay. Steven K. asks: I'm wrestling with whether to let my buyers handle the final closing documents for filing with the county. As another member, Luke, has pointed out to me, they will screw it up is a possibility. True. The transfer tax is almost 2% though and recording is $75 for the first page. Jack Butala: Hello California. Jill DeWit: Right. So I'm contemplating whether to send a closing documents package with instructions or biting the bullet and just paying these fees myself and interfacing with the county. Jack Butala: Jill and I are going to agree on this. Jill DeWit: I will need original signatures for the transferred tax document from the buyer anyways though so I'm struggling a little bit with which way to go. For me, do you want me to answer? Jack Butala: Yes. Jill DeWit: For me, not a big deal. Honestly. Jack Butala: Which way would you do it? You have your seller ... Jill DeWit: I've done it both ways. Jack Butala: What he's saying is this. You post a piece of property on the internet for sale, a $5,000, five acre property in California. And somebody says, I want to buy this property and you say, great. I'm going to send you a bill or click on the thing. Charge the credit card. Okay, great. You bought it. You send them a deed package and you sign the deed over to them. A deed is not a contract, by the way. It's just your signature and you have two choices at that point.

Unlikely SFR Deal Killers Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill show. Entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about those unlikely SFR deal killers. Single family residential wholesaling deal killers that lurk in the background. And you may or may not be familiar with. Jill DeWit: I can't wait. I'm sure you have a long list. This is kind of one of yours. Jack Butala: I do. Jill DeWit: So I'm happy to ... Jack Butala: We're going to talk about land killers too, and deal killers. Before we get into though let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay, Chris asks: Hi all, up to this point I have always used a cashier's check to purchase my properties with no problems at all. That was until this past week I had a seller back out of a deal after he agreed to sell and all the due diligence checked out. I sent the deed and cashiers check to the notary to close the deal. The notary then contacted the seller to find out that he was not going to sign it and backed out of the deal. There are other details that I should've listened to before sending the envelope, but when the seller agreed I was all too happy to run to the bank. Having the seller back out of the deal caused me to have the bank to put a stop payment on that cashier's check. Jack Butala: Okay hold on a second, Jill. I didn't know that was possible. Jill DeWit: I did neither. You know to be honest with you, I was going to finish the question and then cover this stuff. Jack Butala: Okay go, yeah. Jill DeWit: So yeah. Jack Butala: Yeah, go ahead. Jill DeWit: Researching, after the fact. I didn't think the bank should have granted this because now they are in a double jeopardy situation that should that check be presented they have to honor it. Well that's kind of their problem. None the less, I was wondering if cashier's checks are the best option or would a business check serve me better in terms of having more control should a seller back out again? Had the bank not place a stop payment on that cashier's check, those funds can be locked up depending on the bank indefinitely. Obviously the sellers, having that bank guarantee, can offer them a sense of confidence that their not going to be taken advantage of. I'm sure there will be various views and I look forward to everyone's ideas on this. Thanks, Chris. So my first thing was, I personally, do not worry about these situations because the seller never got the money. And this is why we have the unrelated third party, AKA the notary that you hired in their city who's handling the transaction. They have the money, they have the deed, they have everything. And they don't hand them that envelope with the cashier's check until they sign. So I wouldn't have even done any of this work. This for me was kind of a couple of extra steps.I kind of understand where you're coming from. But for me the fastest thing is well hey notary it's obviously not going to happen. So in that package, remember you already have a prepaid return envelope that you were going to send the deed back in. So put everything back in that envelope and overnight it to me. Jack Butala: Yeah. Jill DeWit: So now, say this was Monday, this all happened on Tuesday,

Establishing Seller Trust Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack and Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting again from sunny Southern California. Jack Butala: Today, Jill and I talk about establishing seller trust. The good, the bad, and the ugly. Jill DeWit: I was going to say, we're going to start with first an example of what not to do, and then we'll fall into what you should do, yes. Jack Butala: What if we just had a show about just doing it right all the time? Jill DeWit: Oh that would be boring too. You've got to show that we even fall down a little bit too. Jack Butala: We just pat each other on the backs all the time and say, "It's so easy to be a real estate investor. Everything single deal." Jill DeWit: "Everybody should do it. You win on every deal. Oh yeah and it's so easy, you don't need to train people. You just hand them a phone, they'll figure it out." Jack Butala: We could make cartoons like Walt Disney and make a theme park called "Real Estate Success". Jill DeWit: Right. Love it. Jack Butala: What would you name the rollercoasters or the rides? Jill DeWit: The rides in Real Estate Success? Jack Butala: Yeah, the theme park. Jill DeWit: Oh..."Losing My Ass". "Drop". Jack Butala: "Fatal Real Estate Agent". Jill DeWit: "Fatal Real Estate Agent". "Big Flub 101". I don't know. I don't know. Jack Butala: "Should I Get A College Degree?" That could be one ride. Jill DeWit: Oh that's a good one. That's true too. Jack Butala: It's a small one. Jill DeWit: "I Borrowed All the Money I Could Get My Hands On." Jack Butala: "I Over-leveraged This House". Jill DeWit: Yeah that's it. Oh no. That's good. Jack Butala: Before we get into it, let's take a question posted by one of our members on the jackjill.com online community, it's free. Jill DeWit: I over-leveraged my house, oh my god. I over-leveraged my you-know-what. Okay. Jack Butala: Shouldn't have married this girl. Jill DeWit: Oh, Jack. Now. Jack Butala: That's a side theme park. Jill DeWit: Okay. That's a whole other show. Jack Butala: Did you ever play that board game "Life" as a kid? Jill DeWit: Yeah. I mean, I never played it as a kid, I only played it as an adult. I always thought, as a kid, it was too hard and it was stupid. Jack Butala: It was stupid. Because life is stupid really. Jill DeWit: As a kid I was like, "Why would you want to play this game, where you get married and have kids and there's college and everything?" I thought that was stupid. That's not a kids' game. Jack Butala: See, you're intuition was totally correct. Jill DeWit: It's wrong. Don't do that to your poor kids. Jack Butala: Not even adults really want that. Jill DeWit: Do you know what? The only game that was also up there was Risk. That was kind of hard for me, like, playing -

Real Estate Inheritance Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about real estate inheritance. Like it or not, if are a real estate investor or an aspiring real estate investor, get comfortable with the fact that you're going to buy real estate from deceased people and deceased people's heirs. It's just how it works. Jill DeWit: It's the coolest thing as an heir by the way, I think, to find out that there's these assets sitting around and it happens all the time. You know, you joke about, it's like finding $5,000 in your coat pocket. Jack Butala: Yeah. Jill DeWit: That's what it is to these people. It's the coolest thing, you know and it's such a ... It's so common, I think especially rural vacant land. There's so many people I think out there that own property, bought property, like they were going to do their dream cabin. It's very common, it was something they planned on doing and then they never did. It's paid for and just sitting there. Jack Butala: Right. Jill DeWit: And they've quietly been paying the taxes for years and years and years, knowing that well, it's going to go to the kids. You and I even look at things like right now, we're no where near, you know, this point in our lives, but we're looking at assets now because we're not 20 and we have kids. Jack Butala: Mm-hmm (affirmative). Jill DeWit: We're actually looking at some of our assets as we take them on going you know what this would be good to have for the kids. Jack Butala: Yeah. Jill DeWit: Fortunately, we know the right way to set it up for the kids, so the kids know how to work with it, and I know this what we're going to cover, part of it in this show today. Jack Butala: Exactly, we'll cover it all. Jill DeWit: Thank you. Jack Butala: We'll just call this the Jack and Jill Mythbuster episode- Jill DeWit: I like that. Jack Butala: There's lots of myths about wills and estates and all of it and trusts. Jill DeWit: Cool. Jack Butala: Before we get into that though, let's take a questions posted by one of our members on the jackjill.com online community, it's free. Jill DeWit: Okay, Mike M. asks, "Hi All. My current business structure is a DBA for my land business." Jack Butala: Doing business as. Jill DeWit: "Of an underlying LLC, all in retail." Right. "When purchasing property, what name should I put on the deed? My own? The DBA? Or the LLC?" This is a good question. "What are the tax implications on each? I'm about to close on the sale of my first property and a property of my second, the first for this year, and I want to get things off on the right foot tax-wise. Thanks in advance, Mike." Jack Butala: Good question, Mike, so there are certain legal entities that can own real estate, own real property. You as an individual can own real property, a trust can own real property, an LLC can own real property, so there's only certain entities that can own real property. There's a few other ones, but those are the major ones. A DBA is just a "doing business as" kind of hey, state of x, I'm doing business as this,

Real Estate Agent Egos Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today Jill and I talk about real estate agent egos and what you should know. Jill DeWit: I don't know what you're talking about Jack. I have never experienced that, not at all. I'm a little confused. Jack Butala: We don't ... On this show, Jill and I have a lot to say about real estate agents and the whole real estate agent environment and market, and so we're not picking on anyone specifically, but our whole point, real big picture point is, in a light-hearted way, come on everyone. It's a little bit antiquated. Jill DeWit: I agree. Jack Butala: It's a little bit out of the 50s here. Jill DeWit: Oh my goodness. Jack Butala: Do you pick up your phone and do you order an Uber or a Lyft, or do you go and wait, stand on the corner and try to find a taxi? You get a lift. Jill DeWit: Exactly, right off your phone. It's easy. Jack Butala: We don't have that luxury to sell our house that way, so Jill and I have chosen, in a light-hearted way, to make a little bit of fun of it. Jill DeWit: Oh, this is going to be good. Jack Butala: That's all. That's what it's about. Jill DeWit: Exactly. Jack Butala: Keep the hate mail coming, I love it actually. It's fuel. Jill DeWit: Totally. Jack Butala: Before we get into it, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay. Joe asks, I offered $300.00 an acre in Elco County, Nevada, northeast corner of the state. I was fortunate to open my mail today from a seller who is willing to sell me two properties quite close to each other, 1.3 and 2.7 acres in the same subdivision for $2,200.00. They are five miles from Elco proper, where there is a Wal-Mart, Home Depot, etc. Both have access but not much else. Comps seem to be about $100.00 to $1,500.00 an acre, for properties that are further from town than these. It brings my acquisition price up to $500.00 an acre, and really burns most of my seed money. I'm a little confused about sitting on the properties for too long, since stuff in this part of the country seem to sit for a while. However, taking down two properties in one quick deal may be worth it. Thoughts? Jack Butala: Well I'll tell you, you're asking, you did everything right. You're asking the right questions. Jill DeWit: Yep. Jack Butala: You're kind of at that moment of truth where you're staring at the deal saying, "All right, I did everything right, be careful what I wish for," so you're going to have to make that decision yourself. I will tell you that this pricing, in this county specifically, and the area where you're talking about, I'm really familiar with it. We're intimately familiar, and it's a little bit pricey for my taste, but do I think you can easily double your money on these deals? Yeah. If you were priced at $300.00 an acre for a 6,000 acre ranch, I would say you're off your rocker. That would be closer to $70.00 an acre, but these properties are small, and I think you're pretty relatively new at this, and I think these are two really good starter deals to purchase and go through the w...

Lenders Kill Closing Time Frames Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about how lenders can kill closing time frames. Now, and you're "I want to buy a quick SFR deal." Jill DeWit: Oh, hey. Jack Butala: Not all lenders are evil. We're not here to bash lenders. We bashed real estate agents a couple of shows ago. Jill DeWit: Could you imagine? Wonder what the fast is? I'm really curious. I'd love to take a poll. Like, I should do this on Facebook. I'm gonna make a little, do a little Facebook poll and just see what's the fastest closing that people have done with a lender, and I bet it's like shocking. Shockingly slow. Jack Butala: Yeah. Jill DeWit: You know? Jack Butala: Like an old school lender, like a big bank. Jill DeWit: Yeah, let's, well you- Jack Butala: I bet it's 30 days. Jill DeWit: I like, yeah, and they probably feel good about it. Yeah. Jack Butala: And I bet that with the private lenders it's still 10 days. You still have to look at some stuff. Jill DeWit: Yeah. Jack Butala: But that's what we're here to talk about. Jill DeWit: Totally. Love it. Jack Butala: It's gotten a lot better. Man, it used to take six months to buy a house. Jill DeWit: Oh my god. Really? Jack Butala: I'm not that old, you know, I'm old enough to remember. Yeah. Jill DeWit: Yeah, you know what? Oh, yeah, remember the whole short sale thing, back when that was, I mean ... Jack Butala: I mean, I mean in the '90s. Jill DeWit: ... a big deal. Jack Butala: In the '80s and '90s it took ... Jill DeWit: Well you know, I do remember my parents bought a house in Laguna Hills in the '80s, late '80s, and that took forever, you know. I know what you're ... I remember, and it was buying it from a bank, and it was a whole [inaudible 00:01:30] thing, and ... Jack Butala: Bank's gotta send a person out there. Jill DeWit: Man, it was just ridiculous. Exactly. Good stuff. Jack Butala: But that's past now. Thank you. Jill DeWit: That's behind us. Jack Butala: This is a great time in history to be a real estate investor. Jill DeWit: Exactly. Jack Butala: We have so much data that's available, most of it's free, and we just have to realize how to use it. Yet I see many, many, many people just kicking it old school. Jill DeWit: Could I ask you a political question? And if you think this is a bad one, you want to just skip it we can. But, because our current President has a real estate background, are we in for some good changes? Jack Butala: No. Jill DeWit: Oh. Well, never mind. Jack Butala: I mean with all ... I do not care one way about, you know, left to right or any of that, but the person that we have in office is ... Jill DeWit: I'd like to see some easier...

Census Tract Mailer Pricing Transcript: Jack Butala: Jack and Jill, here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack & Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And, I'm Jill DeWit. Broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about census tract mailer pricing. It's how I actually, the cuckoo system that I've devised, to accurately price SFR mailers. Jill DeWit: Is that your legal term? It's the cuckoo way Jack gets this done. But you know what I was gonna say, by the way? I think it's amazing how you do this. I was trying to think about this. I swear, it's like a third science, I think it's a third art, and I think it's a third experience. What do you think? How'd I do? Jack Butala: I don't know, you know. I mean, thank you for the ... Jill DeWit: Trying to explain it? Jack Butala: I think that's a compliment, and thank you. Jill DeWit: Yeah. Jack Butala: But I'll tell you, it all was derived out of necessity. We just weren't getting the results that we wanted to get for regular pricing. So the way that we priced mail, the way that we priced purchasing land, it's just not appropriate here. Jill DeWit: Sure. Jack Butala: It's a totally different animal. So I'll try to explain it the best I can through this venue. Jill DeWit: Awesome. And I'll try the best to entertain you, so you don't fall asleep during this. Jack Butala: I was just gonna say, that's the thing. I will try as hard as I can to make sure Jill stays awake. Jill DeWit: Yep. There you go. Jack Butala: Before I get into this, though, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay. Joe M. wrote, "Hi all, I've been exporting comps in Redfin and realtor.com, to determine average days on market for vacant lots in a neighborhood. But I have a feeling there's a much faster way. Have you noticed a correlation between how long your vacant lots take to sell in comparison to SFRs average days on market in a specific area? Also, what are some of your favorite sites to reference when determining your next target market? Any insight would be greatly appreciated. Thanks, Joe M." Jack Butala: Joe, this is a perfect question for our topic today. Jill DeWit: Yep. Jack Butala: It's perfect. I use exactly those two websites, Redfin and realtor. And I use it in conjunction with DataTree. We're a licensed provider of DataTree information, which is a ... Jill DeWit: First American Title's ... Jack Butala: It's First American Title's ... yeah ... data company. And it's by leaps and bounds ... I think, some of the best data available. So when you use a version of days on market here, in this case from Redfin or Realtor. I prefer Redfin for a bunch of reasons. And you meld it with the data that gets collected by the assessor, and then processed by a world class company like First American, you literally, the result is this ... you to remove probably 98% of the risk that you would incur from a real estate investment. Jill DeWit: Exactly. Now you're talking houses. Jack Butala: Yeah, houses only. Jill DeWit: Now, so his question is, does the house stuff apply to land? Do you ever look at that, Jack?

Sell Your House without Realtor Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertain, real estate, investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about selling your house without a realtor. Jill DeWit: Oh no, no, no, no. Jack Butala: Imagine that. Jill DeWit: That's not possible. Jack Butala: This show topic was inspired by a rant on LinkedIn where someone very brilliantly said, "Here's a list of all of the largest lobbyist groups in Washington." Guess what number two is? Jill DeWit: Isn't that funny? Jack Butala: Real estate agents. The Association of Realtors is the number two largest lobbyist in the country, propping up the industry falsely- Jill DeWit: Exactly. Jack Butala: ... messing with pure supply and demand in a free market. Jill DeWit: Like, even above tobacco? Jack Butala: All so you can spend six percent for no reason at all to sell your house. Jill DeWit: Exactly. It's amazing. Jack Butala: I have to say this. I think Jill doesn't know this either. We have lost a material percentage of listeners to this show- Jill DeWit: Uh-oh. Jack Butala: ... and potential customers because of our rant. Jill DeWit: Because we don't like realtors? Jack Butala: Uh-huh (affirmative). Jill DeWit: Well, not all realtors, but- Jack Butala: It's directly our real opinion. This is for reality. Jill DeWit: Yeah. Jack Butala: Our opinion has cost us money. Jill DeWit: Well, you know, it's- Jack Butala: And I'm not sorry. Jill DeWit: Okay. It's like used-car salesman. Would we be upset if we lost all kinds of listeners that were used-car salesmen? Jack Butala: No. Jill DeWit: No. It's the same thing. I hate to say it, everyone, but that's ... Okay. We'll get into it. Jack Butala: That's what the show's about. Jill DeWit: Yep. Jack Butala: If you're a real estate agent and you love your six percent and you high-five your fellow real estate agents because you made six percent on little old lady Mrs. Jones's house because she doesn't know there's another option- Jill DeWit: Right. Jack Butala: You can turn your radio off right now. Jill DeWit: Exactly. Jack Butala: Otherwise, if you want to learn how to do it and make a ridiculous amount of money doing it the right way and being straight-up and honest and actually helping people, this is a good episode for you. Jill DeWit: Yep. I have a lot to say. I'm saving it. Totally saving it. Jack Butala: Before we actually get into the topic, let's take a question posted by one of our members on [thejackshow.com 00:02:11] online community. It's free. Jill DeWit: Okay. Steven K. wrote, "Hey. I'm looking to sign up with a service." The question is, "Anyone using SignNow for electronic signatures with your buyers?

Jill's Negotiation Approach II Transcript: Jack Butala: Jack and Jill here. Jill DeWitt: Hey! Jack Butala: Welcome to The Jack Jill Show it's here that we provide entertaining real estate investment advice. I'm Jack Butala. Jill DeWitt: I'm Jill DeWitt, broadcasting again from sunny Southern California. Jack Butala: Today Jill and I talk about Jill's "negotiation" approach. One of my favorite topics mostly because it takes the onus off of me. Jill DeWitt: [inaudible 00:00:22]I was just thinking about this, and I was writing some notes for this show ... Which, by the way, this is another one of those ... It's fun because you came up with this topic, not me, and I appreciate ... I get to share my whatever. But anyway, what I was gonna say was, I wasn't sure, which ... I took it as a business direction, but some of the things that I say could be used in all kinds of negotiations. You know about ... You know what I'm trying to say. Jack Butala: I couldn't agree more. Jill DeWitt: Okay, thank you. So I wanna make sure whatever you think this show means to you, you can use it for that. Jack Butala: How about I interview you? Jill DeWitt: "I'm gonna negotiate how to get my wife to do 'X'" Okay, sorry. Jack Butala: It's quite the other way around. Jill DeWitt: Oh boy. Oh, oh! "That's what my wife is doing when she did this or when she said that." Jack Butala: You know what this show should be called? It should be called "How Do You Get What You Want." Jill DeWitt: Ah. Jack Butala: "How Jill Gets What She Wants." Jill DeWitt: Oh, yeah that's good! Jack Butala: Before we get into the topic, let's take a question posted by one of our members on the jackjill.com online community, it's free. Jill DeWitt: Okay, Sandra asks, "Hi, everyone. Is it hard to transition from land to houses? I hear you guys talk about it all the time but I'm concerned because the dollars are so much higher. Is it difficult? What do I need to know?" I love it, this is so good because so many of our members are like ... Do you know what's interesting? I think a lot of our members in our community, they found us knowing they want to do something in real estate, period. Right? We all know there's money to be made in real estate, we got that out of the way. So ... I think we're over that one, we don't have to convince anyone that one. Jack Butala: We got that out of the way. Jill DeWitt: Exactly. Jack Butala: No, no, I can hear people say it. "Now what do you mean you make your money in real estate?" Jill DeWitt: No, no, that's funny. No. Jack Butala: It cracks me up. Jill DeWitt: I know. So, anyway, then I ... Then people ... But they get into it, they're like "I can't afford this, I can't afford that." You know, yeah, you're ... When you talk to someone who's brand new thinking they wanna be an investor and they wanna invest in an apartment building and you tell them, "The best thing you can do is pay cash." They usually don't have enough cash sitting around to go and buy an apartment building. Jack Butala: No-one does. Jill DeWitt: Right, got it. Jack Butala: I don't care if you're Sam Zell, you don't look at your bank balance and say "Well, there's not enough for us to buy a ... That's a really good deal, thanks for bringing it over,

Jill's Compelling Personality II Transcript: Jack Butala: Jack Jill here. Jill DeWit: Hi there. Jack Butala: Welcome to the Jack Jill show. It's here that we provide entertaining real estate investment advice. I'm Jack Butala. Jill DeWit: I'm Jill DeWit broadcasting this week from sunny Southern California. Jack Butala: Today, Jill and I talk about Jill's compelling personality. It's what everybody needs. Everybody really needs a Jill on their team, I guess. Jill DeWit: Are you sure about this, Jack? I have to say, when I read this title, I went, "Uh-oh, this can go a couple different ways." Some days you think it's good, and sometimes I'm sure you want to throttle me. Jack Butala: Oh my gosh. Jill DeWit: Come on. Jack Butala: Tell me one time, one day where I said, "You know what? We just need a little bit less of Jill." Jill DeWit: Well, there are days that you think that I should be a little more serious. Don't you think? Jack Butala: That's only when we work together. Jill DeWit: Oh, thank you. So, that's it. There is no gray area. Okay. Jack Butala: Let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay. Jeff U. shares ... not Jeff you, like something else. U is the first letter of his last name. Not like, "Hey, Jeff you." Jack Butala: "Jeff you." Jill DeWit: Wouldn't that be hilarious? Jack Butala: I bet if he's got a wife, I'd bet she's used to saying that. Jill DeWit: That a whole new saying. I'm going to start that. "Oh yeah? Well, Jeff you back." That's good. I should use it on my brother, "Yeah, Jeff you." Jack Butala: The sound of radios clicking off all over the world. Jill DeWit: That's awesome. "Jack you, and Mabel you." Jack Butala: Mabel. Jill DeWit: I don't know. Jack Butala: You know, it works with Jill you too? Jill DeWit: Yeah, it does. All right, it says, "Hello. My name is Jeff, and I am from the metro Detroit, Michigan area. Jack Butala: I'm so sorry. I can say that because I'm from Detroit. Jill DeWit: I'm just starting to learn about raw land investing," yes you can," I'm not even wet under the ears, but I am reading, watching videos, listening to podcasts, et cetera. My wife- Jack Butala: There is a wife. Jill DeWit: ... is not 99.9% bought on to this idea." So, does that mean she's all but one little piece? Jack Butala: No, she's not into it yet. Jill DeWit: Oh, okay. "Right now, I told her I'm just learning. What to do about a non-compliant spouse?" Well, that's two different questions, isn't it? First of all, one is, "What do I do?" Two is, "How do I handle a non-compliant spouse?." Like, in life? Jack Butala: One is, "My wife's not on board with this land investing thing." Jill DeWit: Right. Jack Butala: Number two is, "What do I about- Jill DeWit: "She's non-compliant." Jack Butala: ... my non-compliant spouse?" Jill DeWit: I'd like to tackle them as separate questions. Jack Butala: I had our producers put this in here, Jill, for you.

Teaching Your Trade Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real-estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about teaching your trade. Trust me, it's harder than it sounds. Jill DeWit: It's true. Jack Butala: We have a couple choices every time we do a deal. It's in the back of our heads, both of us. Should we do this deal and record it and show the whole world, or should we get it done in 30 seconds? Jill DeWit: Just get it done in 30 seconds, I know. Jack Butala: Put the money in the bank and move on. Jill DeWit: I know. Jack Butala: Maybe we'll teach out another deal. You guess which one happens more often. Before we get into it, let's take a question posted by one of our members on the Land ... Oh, that takes me back. One of our members on the JackJill.com online community. It's free. Jill DeWit: That's awesome. Chuck asked, "I used Jack's suggestion of posting in Land Wanted on Craigslist. Got a call from a farmer who owns 715 acres in Arkansas near Little Rock. He's old, tired, and wants to sell 600 acres." Jack Butala: That describes me. I'm old, tired, and I want to sell 600 acres. Jill DeWit: Yep. "Keep the family homes, no one to leave it to. Some farms, some hunting, some vacant residential. He's willing to deal. This is something I cannot do alone, but it would be a shame to let it go. I'm posting here to see if there is someone who could work with me on this. I can simply refer it, or if there's someone who wants to have a go or may know someone, we can look into that too. I checked email notification below, so I assume that's how I'll be contacted if someone is interested." Love it. Jack Butala: The producer's got a note here that about 25 people responded in our group, but go ahead. Jill DeWit: Oh, cool. All right, then there's one that they added in here that Luke wrote. "This should be posted on our deal board." [crosstalk 00:01:45] Jack Butala: Yes. Jill DeWit: "Arkansas seems easy to split land. I would look into selling it as a bunch of smaller lots that each fit on a credit card. Not size-wise, but you can buy on a credit card." Jack Butala: Luke, you're brilliant. Jill DeWit: That's really true. Isn't that funny? That's the truth, that we ... When you're doing this, you do it right. You want to have it available that people can literally check out, put their land in their shopping cart, and whip out their credit card and pay for it. People love that. It still sounds crazy, I think. Jack Butala: Whip it out. Whip out their credit card? Jill DeWit: Whip out their credit card. Jack Butala: Hey, whip it out. Jill DeWit: And pay for it. Listen, silly. People do that. People go, "What?" Yes, it happens all the time. I'm not kidding. Jack Butala: People who buy real estate, they want it to be a convenient transaction too. It's not just you. It's not you sitting there, "Man, I wish this was easier." They're saying the same thing. Jill DeWit: Right. It's like a car. Think about it. "No, I'm really hoping to spend eight hours at the car dealer today." No one says that.

Land vs Houses Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about land versus houses. Which one's better for you? I have so much to say about this topic, too. Jill DeWit: I do too. I mean, there- Jack Butala: You were madly scribbling your notes before the show. Jill DeWit: I was, I know. They're different. Jack Butala: So different, aren't they? Jill DeWit: But they're, I love 'em, but they're both valuable. They're both great. I have positive things to say about both. They're not hard. It sounds like it's hard. It sounds like one's harder than the other. I swear there's two camps. I don't know if you've noticed. The house people think, "Oh, I couldn't get involved in the land," and the land people think, "Oh, I don't know about the houses." Jack Butala: Yeah. Jill DeWit: But it's not that crazy. Jack Butala: Exactly. Jill DeWit: Thank you. Jack Butala: Before we get into Jill's banter, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill DeWit: Okay. Luke says, "I was just noticing in my accounting software that the number of properties bought crossed over 1,000 since I started. It doesn't seem like that many, but I wholesaled a bunch off along the way and I never even put in the accounting system too." Oh my God. Jack Butala: He means this is more than a 1,000. Jill DeWit: Exactly. The phone keeps ringing. 2000s coming right up. Jack Butala: There's a saying in Hollywood and I wondered what it meant until I was successful in Real Estate. "Fame sneaks up on you." Jill DeWit: Oh. Jack Butala: And when people say that what I think they're really saying is, "You know, I've been doing this, exactly what I do, for ten years now but it seems like in the last year ever since X, like I got on a TV show or something and now it's like, "Wow this all caught up with me." Jill DeWit: Yeah. Jack Butala: In professional baseball they say, they call the Big Leagues, the show. And if you ask, a, you know let's try to make it to the show, if you ask somebody in the minor leagues they just they've been playing baseball the same way their whole life and all of a sudden now there's a stadium of people watching. Jill DeWit: Exactly. Jack Butala: I think that's really healthy. Jill DeWit: I think that's cool. It's like, I tell you I like your celebrity run and I was thinking how it sneaks up on you. It's like I never used to be able to get a table, now I can get a table everywhere I go. Jack Butala: Here's a few things you don't want to sneak up on you like that at all. Jill DeWit: Oh no. Jack Butala: You don't want to look at a calendar and say, "Oh my God, I'm 75 years old. Where did that go?" Jill DeWit: Right? Or look in the mirror. Jack Butala: Or look in your drawer and say, "Oh man I should have changed all of my undergarment stuff, they got to go."

Real Estate is Better Than... Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello. Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: And I am Jill DeWit, broadcasting from sunny Southern California. Jack Butala: Today, Jill and I talk about real estate is better than ... Jill DeWit: Dot, dot, dot. Jack Butala: So much better than, I think, any other investment vehicle. Jill DeWit: Well, you know, I was looking at the reverse. I was looking at this way, too. What is better than real estate? If you look at it like that, it's pretty hard to come up with anything. Jack Butala: I have a lot to say about this in the meat of the show. Jill DeWit: Okay. I gotcha. Jack Butala: Before we get into the meat of the show, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Okay, Luke says, "I started selling land at about six a.m. today and stayed on the phones until 2:30 to go get the kids. I tallied up the sales, and sold just over $45,000.00 in land from $500.00 to $5,000.00 properties. No big money deals, just bread and butter. Solid sales all day. It's fun. One lady was screaming, happy to buy some land in Northern Arizona. She called to ask me some questions. There were police ..." Oh. Jack Butala: This going so good. Jill DeWit: Oh, I'm sorry. I realized now, he's really wrote exactly how he wanted this to go. So, let me back up. I apologize. "She called to 'acts' me some questions. There were police sirens in the background of the whole call. She had to get her kids out of the city. Been on YouTube, studying home steading, saw my videos, picked out some land, and can't believe she's doing it. Then, she started crying, hugging her kids. Very emotional. Very cool [crosstalk 00:01:49]" Jack Butala: I love that. You can't make this stuff up. Jill DeWit: "Can't wait any longer. She's going for it." I hear that kind of story almost daily. "People used to escape debt, taxes, and religious oppression by escaping to America. Now, they are fleeing the cities and going off the grid." Jack Butala: We're having that exact same experience, Luke. Exactly. Jill DeWit: "We have great technology to do it, and with our phones ... all the answers are just a search away. I hope you guys are selling lots of land, too. We'll keep sending mail, and see what more land I can find. Recent mailers, most callers have never gotten an offer before. Very encouraging." Jack Butala: Luke, I'm so happy and proud of you on your success. Luke was one of our original members. This is Luke Smith, and I'm going to plug his YouTube channel, because it's truly amazing. He's sky rocketed way surpass us, which makes me a little jealous, but it's good. It's called, Rural Vacant Land, Luke Smith. If you go on YouTube, he has really, really valuable mailer/instructional videos on how to send the mail out, and the whole thing. If you're interested at all in this, in what we talk about here, you're not just entertained- Jill DeWit: Right. Jack Butala: But you're actually also interested. His channel is really helpful. Jill DeWit: I know. Luke is great. Luke is one of our members. Luke learned from us, and it's his way of paraphrasing and describing what we do. So, it's the same thing. I mean,

What Motivates You Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hello! Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about what motivates you. I bet you can be confident that we're going to talk about what motivates us. I bet it's very different. We haven't talked about this before the show. Jill DeWit: No. It's something you've really got to think about. Jack Butala: I know. It's philosophical. Jill DeWit: I was thinking ... We talked about it a little bit yesterday. There's the surface motivation. There's a motivation you'll admit to, then there's the real motivation. As I'm looking at my notes, I just added one there. Jack Butala: Me too. I did, just now. Jill DeWit: There's stuff that you're going to go, "Oh, that motivates me." You are such a liar. No, it doesn't. Jack Butala: Right. Jill DeWit: You know that happens. Jack Butala: You are such a liar. Jill DeWit: You're a liar. Jack Butala: You're a liar. Jill DeWit: Some people are lying. They're lying to themselves. We'll cover that too. Jack Butala: Wait, don't turn it off. Jill DeWit: Wait! Jack Butala: It's not that bad. Jill DeWit: You've got to hear. Jack Butala: Before we get into it, let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Matthew admits ... Just kidding. Matthew says, "Hello, all. Writing my first post from Sacramento area. I've been listening to the podcast for months, maybe six weeks' really." Jack Butala: A little bit of embellishment here. Jill DeWit: This is so cool. "Jill, I took your advice. I had all sorts of to-do things to cross off my list. I found myself riding around too much in the car. I was supposed to be selling to start my land investing business. I heard you say, 'Don't fall in love with it.', on one of the podcasts. I would literally drive around in my investment car and I said, 'That's it.'" This is so cool. Jack Butala: What motivates you? Jill DeWit: "I drove home and posted the car for sale online. Ten times, three times really, and committed to just getting it sold so I could raise the cash to start land investing." Jack Butala: What the heck? That's outstanding. Jill DeWit: This is so great. "Well, I sold the car on Monday. It's Wednesday now and after about four weeks of not really trying hard to sell it, because I was spending all of my free time renting out a family property for full market value. I finally rented that too." "I did both transactions in the same weekend and I'm over the moon. Now, I know I can do the rental side of things correctly after struggling with covering from evicting a tenant, who destroyed my property, and now I'm back in the game." "I need more rental properties in Nevada, but as Jack says, 'I need to learn myself how to find-and-buy great properties below wholesale so I can do this big time.' Here I am, ready to go, day one, starts in three, two, one, now." Jack Butala: This guy's motivated. Jill DeWit: "It's 10...

From Where You Come Transcript: Jack Butala: Jack and Jill here. Jill DeWit: Hi! Jack Butala: Welcome to the Jack Jill show. Entertaining real estate investment talk. I'm Jack Butala. Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California. Jack Butala: Today, Jill and I talk about meeting people from where they come, specifically sellers. Jill's a pro at it. Jill DeWit: Thank you. Jack Butala: She's going to tell us the secrets and I'm going to tell you why I'm not the person the seller talks to in our little group here. Jill DeWit: I don't think it's a hard ... Do you really think it's a talent? I mean, do you think that ... Jack Butala: I think it's a talent. Jill DeWit: Do you think everybody can do it? Jack Butala: Nope. Jill DeWit: Really? Jack Butala: I think I can't do it. Jill DeWit: Have you tried? Jack Butala: Not for a decade. Jill DeWit: Well, maybe if you try, you'd stand a better chance. Jack Butala: I'm more comfortable ... Jill DeWit: Passing it off to me. Jack Butala: With my head in the computer. Jill DeWit: Uh-huh (affirmative). That's a good thing you're good at that. Jack Butala: Before Jill figures out what's wrong with me on this episode ... Jill DeWit: No. Jack Butala: ... Let's take a question posted by one of our members on the JackJill.com online community. It's free. Jill DeWit: Ryan asks, "Hey Jack, as a follow-up, I wanted to thank you so much for your podcast. Having learned a ton these past few months, you covered my purchase of six acres outside Austin for $12,000 on the podcast. We recently received an offer for $100,000, but turned it down." Oh my gosh! "We're getting the parcel rezoned and adding physical access and to hopefully further increase its value and have added five other large parcels since. One bought for $8,000 and looking to sell for $30,000 plus. One for $25,000, with a lot of interest at $50,000 to buy, and three others we're sorting through contracts." Oh my gosh! Jack Butala: Wow! Jill DeWit: "I've only been at this for three months, but I know the insight I've gained from you both has dramatically shortened my learning curve. Keep inspiring others. This is really a game changer. Thanks again, Ryan." Jack Butala: Can you imagine? I mean, they're sitting on a quarter of a million dollars of equity. Jill DeWit: Uh-huh (affirmative). Jack Butala: They don't know what they're doing yet. Jill DeWit: Uh-huh (affirmative). Isn't it awesome? Jack Butala: I'm liquid proud. Jill DeWit: I'm so glad. Jack Butala: Truly amazing, Ryan. Jill DeWit: I'm like, this is one of the things that is mind-boggling to me too that I can't think of any other business where you could ramp up this fast. Jack Butala: Right. Jill DeWit: I mean, three months? That's insane. Nobody gets that kind of returns. I don't care what kind of shop or store or whatever you do, you certainly can't get a college education in three months to be a lawyer or something. I mean, come on.