Why the Concept of Data is Difficult to Explain (CFFL 504)

Why the Concept of Data is Difficult to Explain (CFFL 504) Transcript: Jack Butala:                         Jack Butala and Jill DeWitt. Jill DeWit:                            Hi. Jack Butala:                         Welcome to our show today. In this episode, Jill and I talk about why the concept of data is sometimes difficult to explain, especially if somebody's new at this. Before you get into it ... Before we get into it ... Before you get into it, a freudian slip. Let's take a question posted by one of our members on the landinvestors.com online community, it's free. Jill DeWit:                            Okay. Rod asked, "I'm looking at a bulk deal purchase in Apache County, Arizona. Seller wants $22,500 for eight properties totalling 150 acres or about $150 per acre. I do not have the money. Any advice is appreciated." Jack Butala:                         We have all been where you are, Rod. Jill DeWit:                            Yep. Jack Butala:                         And here's my blanket statement to everyone in real estate, every time I meet them. No good acquisition should be left undone, especially because of money. So if it's a great deal, you're going to find it. Jill DeWit:                            There's money. Jack Butala:                         There's way more money out there than sense. And you've come to the right place because I can see here you're a member. Jill DeWit:                            We have money and not a lot of sense. I had to say that, you know it was coming. Jack Butala:                         We don't do deals directly any longer with members because quite honestly it takes too long. That's the real reason. Not because they're not good deals. It just takes too long. We have bigger fish to fry from a money standpoint. Not because they're bad deals, just because, well let's just say it. We're doing it with people who are new and there's a lot of stuff that goes on. But anyway, what you want to do is go on a deal board, if you're not there already. We have a thing called deal board, it's a hootsuite, picture a bulletin board, old school bulletin board for jobs and stuff. It's kind of like that, but it's online. And that's where all of our members, it's a members-only access scenario on landinvestors.com. They go in there and access the thing and do this kind of deal. So you would, in theory, you would post all the ... Post the properties, post the deal, probably include the GPS coordinates so everybody can look at it, or pictures. Pictures would be even better. As much information as you possibly can and then what you really want to do if you want to get this thing done fast, is find a buyer. Because chances are somebody on deal board is going to already have a buyer anyway, so you're going to be left with a lot of possibilities. Maybe you mark the properties up from $22,500 to $30,000 and then that person goes and sells them to the end user for 40. There's lots of possibilities. This is a great question. We have all been standing right where you are, all of us. Jill DeWit:                            Exactly. Jack Butala:                         Even at this place in our career, Jill and I where we are. We do deals that I do not want to ... I don't want to write a $4.3 Million check for. We get a money partner, but we do the courtesy of pretty much having the property sold before we even do the deal. It's an easier sell. At $150 an acre, you're going to do just fine. Jill DeWit:                            Exactly. Good stuff. Jack Butala:                         You have a question or you want to be on the show, reach out to either one of us on landinvestors.com. Today's topic, why the concept of data is difficult to explain sometimes. It's the meat of the show. Jill DeWit:                            I love this. Jack Butala:                         You know, again we come back to this co-birthday party you ...