Why Data from Database is Better Than a List (CFFL 317)

Why Data from Database is Better Than a List Jack Butala: Why Data from Database is Better Than a List. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening. Jack Butala: Jack Butala with Jill DeWit. Jill DeWit: Hello. Jack Butala: Welcome to our show today. In this episode, Jill and I talk about why data right from a database is better than a list. Before we get into it, first Jill let's take a question posted by one of our members on Land Academy's online support community. Jill DeWit: Cool, all right. Luke asks, "I sold my second property on terms today and the buyer wanted the clause I had in the contract that disallowed them from altering the property to be taken out of the contract. Do you guys allow buyers to make alterations to properties that you sell on terms?" Jack Butala: Yes, and here's the direct answer to the question, yes we do, and we encourage it. What is the worst thing that can happen to you as a seller, selling on terms? If somebody makes improvements to the property, this is vacant land now and they build a house on it, or whatever but they don't finish ... Jill DeWit: Put a well. Jack Butala: Yeah, put a well is a great example. They don't finish the contract out, right? They just make five years of payments and they say you know what, I'm done with this, thanks, I'll see you. Jill DeWit: Didn't work out. Jack Butala: You get to collect all the ... You keep the improvements on the property. Jill DeWit: Yeah, they're not going to go pull the well out. Jack Butala: But I think there's ... Right, or burn the house down ... But, maybe they would though. I think the root of the question, I think what Luke is really asking is, what if the improvements are not really improvements? What if they dump a bunch of sludge on there? What if they do some really awful stuff to the property and you don't know, you're not even in the same state, right? Jill DeWit: Right. Jack Butala: There's a second clause, and I spent time on our contract, a tremendous amount of time saying ... writing the clause, "You can't use it for illegal uses, you can't dump anything on there, you can't make it worse than it is." Want to make it better ... Really the contract says a legal version of this. Want to make the property better, knock yourself out. If you're going to make the property, in any way, worse than what it is ... Jill DeWit: A toxic waste land ... No. Jack Butala: Then, no. I think that's really the root of this question. Don't you? Jill DeWit: Yes. You got to just have a Breaking Bad. This all goes ... Jack Butala: I know, I was thinking the same thing. Jill DeWit: You know what, it all comes back to Breaking Bad with you Jack. Jack Butala: Well, you said it. Jill DeWit: I know, but I just ... Gee, I'm just stating the obvious. Jack Butala: I'm just fascinated. You know why? Because it's such a good business model. Jill DeWit: Yeah. Jack Butala: There's parents all over are turning the show off right now. Jill DeWit: It's hilarious. You know what's funny about that is that some of our ... Some people in our world are buying and selling vacant properties in states that allow marijuana. This whole marijuana ... It's kind of died down now but it was a big topic in the beginning when it was legalized in some of these areas. It was just kind of funny how the marijuana topic kept coming up, so it makes you think of that too. It's funny. Jack Butala: We have a member who has a property in California that allows that. You have to go obviously through the proper channels, but, and he specifically marketed it to those people and they bought it. Jill DeWit: Could be your business model if you want. Jack Butala: I mean for way,