How We Created Pro Land Investors of Individuals with Zero Experience (LA 1317)

How We Created Pro Land Investors of Individuals with Zero Experience (LA 1317) 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 Dewitt broadcasting from sunny southern California. Steven Butala: Today Jill and I talk about how we created professional land investors for individuals with zero experience. I am just as intrigued and excited to hear about how we've done this. Jill DeWit: Because you don't know? Steven Butala: No, I don't. I don't know. Jill DeWit: You sit there going "I don't know what happened." That's hilarious. You have no idea. Steven Butala: I didn't. Jill DeWit: I don't know, I just threw it up and see if it would stick and it stuck. Steven Butala: That's part of it. Jill DeWit: Okay. 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. Jill DeWit: Matt wrote, "I've had some properties with funky old CCNRs," which is conditions, covenants, and restrictions. Steven Butala: Good work, Jill. Jill DeWit: Thank you. I happened to have lived... Steven Butala: Makes me want to- Jill DeWit: What that is, is if you live in an HOA Homeowner's Association or a POA Property Owners Association, they will often have these old rules and things about paint color and stuff like that. He says, okay, so he's got these properties and they're from the fifties that say things like, you can't build without passing in the architectural review. I've heard of that, and almost certainly the review board is gone... That's hilarious... and also they've all died. They also don't have the... If the review board doesn't reply within 30 days, then presumed it's okay. Type of language that bails you out of the defunct CCNR situation. It's hilarious. I also have a property that says a minimum of a hundred foot setback from the front, but the neighbor's house is 50 feet and was built after the CCNR took effect so it's not grandfathered. The same set of CCNR says, no pets. It's hilarious. Bottom line... This is so good. Steven Butala: Is this for land? Jill DeWit: Could you imagine? Steven Butala: No pets on your land. Jill DeWit: Right. "If I'm flipping the land and the CCNRs are from the fifties, can I presume that nobody is enforcing them and basically ignoring them? There are a few homes, not obeying the hundred foot setback and I guarantee someone in the subdivision has a pet. LOL. The properties are less than 30,000 market sales price." Well, here's my first point. Who wrote.. I'm going to say who wrote this, Matt. I've never read them. Did you need to go that far into it? Was there really a question that somebody asked you? Steven Butala: This is probably on the acquisition side. He's buying it and he's got these CCNRs. Jill DeWit: Why are you getting this far into it? I guess I need... I mean, this is true, if there is an HOA and they still exist and they do have these weird restrictions, it is important to know the major ones. I'd know the major ones but then again, I'm wondering, based on what I'm reading here, if they're even still around? Are people still paying into it? Where does the money go? And who's answering the phone. I'm guessing it's long gone. Steven Butala: Here I have two examples of CCA, CCNRs or HOAs. Number one, I bought a bunch of property in New Mexico one time and I found out later it had a CCA, there was an HOA and I was like, "Oh my god, this is going to wreck this whole thing." The first thing I did... and you should too, Matt, everybody... is Google the thing, see if they exist, see if you can get a phone number and I did. I called them and it was a woman and I think she was cooking dinner at her home and said, "This is Jackie," or something. I said exactly what Matt said, "I bought all this property in this HOA. What's the deal?" She said, "Oh,