Now Other Industry Leaders See the Value in Land (LA 1233)

Now Other Industry Leaders See the Value in Land (LA 1233) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Happy Friday. Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: And Jill DeWit, broadcasting from sunny Southern California. Steven Butala: Today, Jill and I talk about how other industry leaders see the value in buying land now. Jill DeWit: It's funny how its now, now. Why is it now? Steven Butala: This is a very slippery slope, dangerous. I know that this is true, and I saw it happen through the last recession. And I think that buying a strip mall and making some money on it seems easy. It certainly seems easy to the tenants. So people in other industries think that buying and selling real estate is pretty simple. Those of us in it, I think, know how difficult it is to actually buy it and sell it. And buying land, the people that think that this is easy don't take into consideration, it's real easy to be a tenant in a building, maybe a 10-unit building, let's say a strip mall, and pay all this rent and sit and have this thought, every time anybody writes a rent check they say, what if I didn't have to write this rent check? Steven Butala: All these people are making all this money that own this building. They're not doing anything. They don't have to get up in the morning and I have to get up every morning and do all this stuff. If I didn't have this rent check or if I was them, I would be doing great. That's just not how it works. Jill DeWit: Isn't that funny. Steven Butala: People that own these buildings probably own it for 35, 40 years. So there's a lot of stuff involved. So I can't wait to hear what you say about this but because I know you did some research on this, other industry leaders just saying now's a good time to buy a hotel. It just cracks me up. Jill DeWit: Or just land, its interest. So that's where I'm going and we'll talk about it. It's good. 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: Lauren says, hello. I've been buying and selling all kinds of products online for a few years and it's never done well enough to pay all my bills. I need to continue to have a job. I've researched land for a long time and this seems like it really can work. What advice for you do you have for someone like me? Thanks a lot. Jill DeWit: Yes it can work. And everyone that you're writing to in this community, I'm sure there's a lot I didn't look to where they're like a lot of comments. Okay, good. So actually can. And one of the main reasons is, what you're, it's not like buying something that you sell for markup for $1 or $2. We're buying things we sell up for markup for hundreds and thousands of dollars. So it's a whole, it can pay your rent and it can replace your job. But what should you be doing that's, I love that you're excited about it, looking at it like as an opportunity. Jill DeWit: I want you to really spend some time researching it cause it isn't for everyone. And like Steve was just saying too, there are a lot of moving parts and it sounds like, God, this guy who owns this building owns this land, just puts, it sounds like you buy a piece of dirt, you write a check, big deal. You'd make one deed, you send it to somebody, they put a stamp on it and now you take a picture of five, I don't know, and put it on Craigslist and walk away. There's more to it than that. So I want you to do a lot of research. It might be weeks for you and months for somebody else and then even before you pull the trigger, I might say test the water a little bit. You know buy a piece of property and copy somebody and sell it and see how it goes. What do you want to add? Steven Butala: Well, I think buying and selling stuff on online, I've done that in the past too, with the limited success,