Jill Friday – How to Confidently Make Land Decisions with Limited Information (LA 1782)

Jill Friday - How to Confidently Make Land Decisions with Limited Information (LA 1782) Transcript: Steven Butala: Steve and Jill here. Jill K DeWit: Hello. Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala. Jill K DeWit: And I'm Jill DeWit, broadcasting from the Valley of the Sun. Steven Butala: Today is Jill Friday, and she's going to talk about how to confidently make land decisions with limited information. Jill K DeWit: Yep. Steven Butala: When have you ever heard somebody said, "I've done all the research. I'm very comfortable- Jill K DeWit: Oh, I know everything. Steven Butala: ... and confident that I'm ready to have a baby." Jill K DeWit: Oh. Steven Butala: Never. Jill K DeWit: Wouldn't that be hilarious? Steven Butala: No one's ever said that sentence in the history of- Jill K DeWit: That's true. Steven Butala: ... humans. Jill K DeWit: That's very true. Oh, that's a weird example to bring up. Steven Butala: Well, it's the same thing, and I know it's Jill Friday. It's obviously your topic, but you just, you never have all the information. Never. And I ... I'll save it for the show. Jill K 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. Check out neighborscoop.com. The teleprompter doesn't work correctly, or maybe it's user error. Jill K DeWit: You're fine. Don't even worry about it. Steven Butala: Check out neighborscoop.com. Jill K DeWit: What he is trying to say is, if you're a land investor like us, you don't have a street address. Because you're dealing with vacant land, and they haven't signed it yet. How do I find these dumb things? NeighborScoop. So, go check out neighborscoop.com. Steven Butala: Thank you, Jill. Jill K DeWit: There's a bunch of videos on there. You can see how it works. And let me tell you, I don't know how I got by without it. And every single person in my world, it's on their computer all day long, because I can pop in state, county, APN, and I have everything I need. So, it's awesome. Steven Butala: This is Luke talking about mailers. Jill K DeWit: Okay. Luke wrote, "We're up to around 8,000 to 10,000 units a month of mail going out now. But as Steve and Jill said in their last video, so much of the work is outsourced. We pick the county and we scrub the data. We outsource the pricing, but we try to verify it by cherry-picking and running a real-life scenario to see if it pans out." Steven Butala: Excellent. Jill K DeWit: What do we call that? We call that ... Steven Butala: Testing for reason. Jill K DeWit: That's it. Yep. "This is a day-or-so project with our team member, and he's very easy to work with. We schedule about four to six counties in advance, and currently, keeping the title examiners on task is our biggest ask." Well, that's for sure. "Not the closing attorney or title companies specifically. Other than that, getting back to sellers with properties we don't want is our biggest time suck, and with no added value involved. This will soon be outsourced as well. When you send this amount of mail or more, the sheer amount of trash properties coming back starts to pile up." Steven Butala: That's for sure. Jill K DeWit: I feel bad. It's kind of funny. It's not necessarily ... It's just that. It's like your criteria changes. You're like, "I don't need to buy that. I don't want to buy that. I have 20 spectacular properties. I don't need to worry about those." "Everything else is easy and worth doing, since it directly correlates to our private margin. Agent conversations, pre-and-post closings at the attorney's office, seller conversations, picking the counties, working with our team all are immensely quick, easy, and profitable. Zillow also adds to the suck fest." This is awesome. "When we list our own deals, since they now aren't as easy to work with when the property doesn't have an a...