How to Fund Deals and What You Should Look for if You’re the Bank (LA 1473)

How to Fund Deals and What You Should Look for if You're the Bank (LA 1473) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hi. Steven Butala: Welcome to the Friday Land Academy show. I'm Steven Jack Butala. Jill DeWit: And I'm Jill Dewitt broadcasting from sunny Scottsdale, Arizona. Steven Butala: Today Jill and I talk about how to fund deals as the funder and what you should look for in the bank roll. Jill DeWit: All right. Steven Butala: We're reversing the talk this week. Jill DeWit: How different deals, what you should look for if you're the bank. Okay, got it. Steven Butala: Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. And if you're already a member, join us on Discord for sure. Jill DeWit: Saba wrote, and I've got some comments it looks like too? Steven Butala: These are two really nice compliments about how these two new members found us and why they made a decision to join. It's not really a question. Jill DeWit: Okay, good. This is cool. Saba wrote, "It's nice to meet you all. I was trying to look up on Google how to use Google Maps and search for properties by APN, and I ended up here. After reading a few posts, I decided to create an account because you guys seem to have pretty interesting discussions here. I'm a real estate development professional with a decade of experience in a corporate setting, I've sourced multiple deals and processed entitlements for many projects. I'm currently helping a few clients with financial modeling, market research, and zoning research on a consulting basis. Some of my clients are not in the area where I'm located, so I think I may be able to find some good, useful info about how doing deals in various municipalities work in this forum. Feel free to ask me any question you might have. Thanks." How sweet is that? Steven Butala: You're in the right place. Jill DeWit: I'm going to use you guys for information for me, and I'm happy to share what I know. That's our community. That's awesome. RSally wrote, I hope I'm saying your names correctly, thank you. "Hello. So I'm just starting my late in life dream of buying, investing, and owning land. I found Land Academy on Instagram and I've already learned so much. I was about to start my coursework and get my real estate license. I know you don't need to have a license to buy and sell land, but for me, it's about gaining new knowledge. The coursework is a small investment for me to understand best practices, terminology, contracts, et cetera." Steven Butala: There's one more paragraph, but I'm going to jump in here and say that Jill and I have both been through the coursework portion of getting a real estate license with no intention of taking the test, just to learn very specific State-specific real estate laws and rules. And I think it's cheap. When I went through it, it was like four or $500 and it's intense. There's a huge legal component to it. Jill DeWit: It's like 60 hours for the course here in Arizona. Steven Butala: I learned a lot. It's really worth it. Jill DeWit: Mm-hmm (affirmative). Back to the question. He said, "My dream is to buy small parcels of land that have minimal deed restrictions to build and rent out or sell small custom modern cabins for city dwellers. I live in Philly, Philadelphia, and I'm fortunate to be a short drive to wooded land. Personally, all this started with my desire to have a few acres where I could have a small off-grid cabin and get away and let my dog run around freely. I guess I can have both, huh? Anyway, I'm excited to continue learning and hearing from all of you." Steven Butala: All of this started because I had a desire to have a small cabin on a small piece of property, 30 years ago. And here we are. Welcome everybody. Steven Butala: Today's topic, how to fund deals and what you should look for if you're the bank. This is the meat of the show. Steven Butala: