How to Close the Deal on a Piece of Land (LA 916)

How to Close the Deal on a Piece of Land (LA 916) Transcript:  Steven Butala:                   Steve and Jill here. Jill DeWit:                            Hello. Steven Butala:                   Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit:                            I'm Jill DeWit, broadcasting from sunny Southern California. Steven Butala:                   Today we talk about how to close a deal on a piece of land. Somebody signs your offer and they sent it back, what the hell do you do now? Jill DeWit:                            It's like, "Uh-oh, what do I do know?" We can help. Steven Butala:                   We've all been there. Jill DeWit:                            Exactly. Steven Butala:                   Before we get into it, though, let's take a question posted by one of our members on thelandinvestors.com online community, it's free. Jill DeWit:                            Jason asked, "I have recently been scrubbing out anything that has a business name such as LLC, Inc., corporation, et cetera. I was never getting any deals from these so I thought I'd just exclude them from the start. Does anyone else leave them in or out? I'm curious what others have seen. Thanks." Steven Butala:                   Jill? Jill DeWit:                            I know what we do. We leave 'em in, but I don't send 'em 40. If the same person ... If you see the same LLC owns 40 deals, they don't need 40 letters. They'll figure it out. You just ... You can send them one. That's okay, and you don't even have to put all of 'em on there, you can just send them the one and they'll get it, 'cause all of our stuff is in LLCs. You never know who you might be missing because ... It's not even just us, there's a lot of trusts and other entities that people choose to take ownership in. That doesn't mean that it's someone that wouldn't want to get your offer, so if you take those out you could be missing some good deals. Steven Butala:                   She's absolutely right. You absolutely want to keep those in. Those are the professional people that are in the real estate business- Jill DeWit:                            True- Steven Butala:                   That want to own real estate, especially for info lots. Those are the people who own lots that they're gonna build on. They're the people who are gonna buy this property from you when you buy it, so- Jill DeWit:                            Ding ding! That's right, too. Once you close on the other one [crosstalk 00:01:56]- Steven Butala:                   Don't take those out. Jill DeWit:                            Call them, too. By the way, hang on to that data. Steven Butala:                   We buy property from churches and companies all the time. What you do want to take out is the City of Los Angeles or the city of whatever. Any municipality, Bureau of Land Management, any government agency, hospitals, and just stuff where you know there's such a small chance that they're gonna actually sell the property, too. Jill DeWit:                            Right, that it was like it's a mistake or something. That's cool. Steven Butala:                   Today's topic, how to close a deal on a piece of land. This is the meat of the show. I'm also happy to report it's Jill's show. Jill DeWit:                            Well, you know that's the whole thing about us and how we got ... How this has been the core theme of how we run our business. It's always been, "Steven, make my phone ring", and then once the phone rings, whether it's on the buy side or the sell side, that's my job, is marketing. What does this mean? Steven did all his work. He picked the right county. He priced them perfectly. They went out. Now they are ... They now want to sell. They signed it, they sent it back. What do I do and how do I close this deal? I'm not gonna talk about due diligence and what you need to do there,