How to use the Multiple Listing Service MLS in Your Land Business (LA 1535)

How to use the Multiple Listing Service MLS in Your Land Business (LA 1535) Transcript: Steven Butala: Steve and Jill here. Jill DeWitt: Hello. Steven Butala: Welcome to the Land Academy show entertaining land investment talk. I'm Steven Jack Butala. Jill DeWitt: And I'm Jill DeWitt broadcasting from sweet, sunny southern California. Steven Butala: Today, Jill and I talk about how to use the multiple listing service or the MLS in your land business. Jill DeWitt: I'm going to talk about three things by the way. I want to talk about when you use it before you're buying and then pricing property. I'm going to talk about due diligence and I'm going to talk about selling. So I'm going to give you all three different reasons, so get a pen. Just kidding. Steven Butala: I'm going to get comfortable because I want to learn some stuff here too. But when I'm done, I'm going to talk about how I use it to choose counties and stuff and- Jill DeWitt: Well, you're going to be first and then I'll do the second. Steven Butala: I was going to go last because yours is more important. Jill DeWitt: Well, then the phase one is... I was going to go in order. We can figure it out. Steven Butala: Well, do whatever you want. Jill DeWitt: We'll wing 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 of Land Academy, please join us on Discord. Jill DeWitt: Travis wrote, "I'm nervous about this deal for some reason. I could sure use a set of experience eyes please. Would you do this deal," and he puts it in here and gives some notes. So I really liked the price of this one compared to the others and comps overlooking this river, the Arkansas river. It's hilly and it's not far from railroad. Thank you in advance. So it's [inaudible 00:01:29] County Arkansas. It's a little over six acres. It has access. The purchase price he's got locked in is 33,000 to $800 and thinks he could sell it for between 70 and 80,000. So easy doubling his money. It's got a paved road, not in the flood plain. It does have an HOA and there's electricity in the area. And the potential problems are this. He's like it's hilly, but he sees other people have solved it and they built there. So you want to go on this? Steven Butala: Yes. So this is what we call, "Would you do this deal?" It's very prevalent on Discord and a little bit on Land Investors, but not too much, but I want people who are not members or maybe just casual listeners to see what happens constantly in this group and see the value in it. And so probably 10 people responded to this, looked it up and responded and said yes and in this case, everybody loved it, including the moderator, Kevin, including me. I loved it at 30 and I love Arkansas acreage in general. But he's concerned. This person's concerned. And all of us said... It's one of their first transactions, so we really said, "Look, if you need some help with that, let me know," including me. It's a great deal actually. Jill DeWitt: Good. Yeah. I was going to say too, that that's part of the value of this group is that majority of what we're doing is sending mail and offers to cities in places and counties we're not in. And I think I know what's going and the numbers tell me what's going on, but man, having someone that's there and really knows is so beneficial. So having a group like this where you can throw something out there, there's probably someone who says, "Oh, I'm two counties over. I know exactly what's going on in this area. Buy it," because that happens often. Steven Butala: I mean, I know that we've done tens of thousands of deals, Jill and I and I can tell you by looking at this that... and I wasn't alone. Like if I was just the only one who said, "Oh yeah, that's a pretty good deal. I think you should take it to the next level or buy it and I'll pay for it if you want," and everybody else said,