Land Acquisitions: Just Send Offers to Owners (CFFL 409)

Land Acquisitions: Just Send Offers to Owners (CFFL 409) Recording Location: LAT (i.e.  33.838781)  (LONG i.e.  -118.391261) Jack Butala:                       Jack Butala with Jill Dewit. Jill DeWit:                           Greetings. Jack Butala:                       Welcome to our show today. This episode, Jill and I talk about land acquisitions. Just send offers to owners for goodness sake. Jill DeWit:                           Exactly. Jack Butala:                       Before Jill gets a little bit angry. Jill DeWit:                           What the heck, oh about the topic. Jack Butala:                       A little bit angry about this topic. Jill DeWit:                           Where are you going? Jack Butala:                       Everybody loves when you get angry. Jill DeWit:                           What did you do? Jack Butala:                       Let's take a question posted by one of our members on the landacademy.com online community, it's free. Jill DeWit:                           Okay. Jack Butala:                       Before we do that, let's look at Jill's shoes today. Jill DeWit:                           Oh gosh, you like these shoes? Jack Butala:                       Here's what I love about these shoes Jill. Jill DeWit:                           All right. Jack Butala:                       They are perfectly you because only you a female, would show up to a photo shoot in these shoes. Jill DeWit:                           These are Doc Martins by the way. Who knew they still ... the make some cool different Docs. Jack Butala:                       Best girl ever. Jill DeWit:                           Thank you I appreciate that. Jack Butala:                       You're a welcome addition to the boring world of land investing. Jill DeWit:                           I can still wear Doc Martins, it's okay. All right so here is the question, Michelle wrote, just completed another terms deal on Ebay. The parcel was bought for $750 all in. The terms were $6500. Sold it on Ebay, 30 day auction for the down payment and then continue with the terms. Jack Butala:                       Excellent. Jill DeWit:                           The auction ended with the winner had the highest down payment, the bid was $2025 which already paid for the acquisition and then some. Congratulations. Jack Butala:                       So the down payment was three times the purchase price. Jill DeWit:                           Exactly and then they still had more money to catch up. The buyer did not want to do terms and asked me invoice him for the entire $6500. Sweet, that's what he wrote. Jack Butala:                       That's 700%. Jill DeWit:                           That's, thank you. Jack Butala:                       700% return. Jill DeWit:                           What the heck. You know, I got to tell you I'm so happy to hear that there's so Ebay stuff still happening. Jack Butala:                       Yeah me too. Jill DeWit:                           Because we always keep it in our list of places to post property but it's not the ... I don't think of it as the number one place like we used to but it's so nice to see it's still working. Jack Butala:                       Let's just say real conservatively that he made five grand, he made more but it's $5000. He put $5000 in his pocket after he has lunch while he was doing the deal and the whole thing. Jill DeWit:                           All this costs and mailer fees and all of that. Jack Butala:                       Let's say he did one of those a month, that's $60,000. Jill DeWit:                           Not bad. Jack Butala:                       Anybody can do one deal a month. Jill DeWit:                           Exactly. Jack Butala:                       You could do everything one,