Property We Buy West of the Mississippi with Great Success (CFFL 0229)
Property We Buy West of the Mississippi with Great Success
Jack Butala: Property We Buy West of the Mississippi with Great Success. 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: Hi.
Jack Butala: Welcome to our show. In this episode Jill and I talk about property we buy west of the Mississippi with great success. Great show today, Jill. Before we get started let’s take a question posted by one of our members on success plant dot com, our free online community.
Jill DeWit: Okay. This one is from Claire. She wrote “just wondering how I should handle this. I chose to have my buyers do the recording because in California they need to sign a [inaudible 00:00:30] anyway which is kind of a property evaluation form they just have to sign and send in with the deed. For my 2 properties from several months back I just received new tax bills. Should I contact the buyer to remind them or should I let that go?” It sounds like they didn’t follow through but they have all the documents and the instructions. I love Claire’s question, what should I do?
Jack Butala: I mean, what would you do? Let’s both answer.
Jill DeWit: You know, I would remind them. I might even forward them to tax bill because now it’s kind of their thing. Technically they own it. The deed is signed and in their name. I mean, I don’t want to go around them and then have it recorded but I would remind them and maybe help them. Maybe there’s a question. Maybe that’s it. I might reach out to the buyers and I would just kind of check and see if they have any questions and that’s why they didn’t send it in. Maybe they were confused or something, who knows, and just maybe help them. What do you think, Jack?
Jack Butala: No, I would do nothing. There’s a few things going on here. The county is very, it’s a big misconception out there. The county’s very behind so they could just be receiving the new tax bills because it didn’t make the cut, which is probably what’s going here. They probably did record it.
Jill DeWit: That’s true. I forgot about that. It could have been. You’re right.
Jack Butala: This is a transaction in California so most of my experience with the counties in California is that they’re pretty up to speed from a tax stand point, so you could pretty easily check to see if the deed got recorded. I mean, what you’re doing is really, Claire, creating a bunch of work that I think is not going to generate you a dollar. I’d probably put those tax bills in a safe place and if you do for whatever reason talk to these buyers or buyer maybe remind them. Otherwise, it’s kind of their responsibility. Jill’s right too. Nobody’s wrong here. More communication with your customers is always better. You can go either way.
Jill DeWit: Cool.-
Jack Butala: Hey, if you have a question or you want to be on the show call 800-725-8816. Today’s topic: the property that we buy west of the Mississippi with great success. This is the meat of the show.
Jill DeWit: Which is mostly what we do.
Jack Butala: We’ve kind of divided the country I guess like a lot of people right down the middle. The types of property out west that do well and then the types of the property east of the Mississippi that we purchase under our little business model here that do well. The next show’s about the properties east of the Mississippi, but this one west of the Mississippi and some of my favorite property. Jill what do you think some of the attributes are? How do we choose, how and why do we choose property west of the Mississippi that works so well for us? If you go ahead now, I’ll comment on it too.
Jill DeWit: You know what’s funny about this? I always thought, Jack, it was because of you. I really though it because of where you grew up east of the Mississippi it just was so enticing west of the Mississippi. I know it’s kind of silly but I looked at it like that. I always just kind of thought that that’s where you wanted to be so that’s kind of where you were focusing. I know there’s more to it than that but I just thought that was kind of funny.
Jack Butala: They both work really equally well, actually. We’ll talk about why.
Jill DeWit: I personally have found that a lot of the western states are more relaxed, if you will. In some states west of the Mississippi it is easier to have a dead recorded than it is to have your car title transferred so that’s a huge attraction for me. It’s just how easy it is. What are your thoughts?
Jack Butala: I think they’re completely different property types. I think out west you can buy very large acreage and it seems to sell very, very well for $100 an acre, that’s what we shoot for and that’s what we talk about with our members all the time. The short of it is we’re trying to buy between 5 and 40 acres for $100 an acre. Between $500 and $4,000 believe it or not. We buy a ton of property. We buy properties every week, if not every day. Back east, it’s a lot harder. Buying 40 acres in Tennessee or Georgia or something like that is a little bit different. What we focus on is west are the 4 A’s. Acreage, the more the better. Access, got to have it. attribute, like is it close to the Grand Canyon, does it have mountain views, things like that. Any type of attribute that sets it apart from just regular property is great. Then affordability, the cheaper the better. It’s just like you would think. There’s massive expanses of space most of the parts of the west of the Mississippi and it’s a little bit more populated to the east. The property type that people go for tends to be a little bit different.
Jill DeWit: For you though does the ease of the transferability factor in at all, or no?
Jack Butala: There’s a few places around the country where … Seth Williams just did a blog about this today, actually.
Jill DeWit: I saw it.
Jack Butala: About states that you are require an at4torney to be involved. I didn’t know that there were … I’ve been doing this for a long time I didn’t really believe or think that there were actually required states, that required an attorney to complete the transaction, but I guess there are. I will read the whole blog. I haven’t read it yet. I have not run into problems with recording or things like that anywhere in the country. That doesn’t really play into it for me. It’s the property types that really make a big difference I think.
Jill DeWit: Got it. It is interesting that there’s a difference. There really is kind of a difference between the Mississippi, the east and the west like you just said. Love it.
Jack Butala: This is the technical 2. 2 minutes of property investment advice from our 15 year, 15,000 transaction experience. Before you send a mailer out west of the Mississippi, check the 4 A’s. You want to make sure that you’re not sending a mailer out to property owners, regardless of how inexpensive the properties that you purchase it, you want to make sure that you can sell it. I’ll give you an example. If you send a mailer out to a group of properties let’s say west of the Mississippi in Montana and everybody in Montana, for whatever reason, wants massive expanses of space. They wouldn’t consider in our little market niche buying property that’s less than let’s say 5 acres. You really don’t want to mail owners out 1/4 acre properties. It’s going to be tougher to sell. Unless there’s some kind of attribute like they’re close to a river or they have deeded lake access or something like that. You really want to read your market, west or east of the Mississippi before you send a mailer out. Any comments, Jill?
Jill DeWit: Great advice.
Jack Butala: If you have a question or you want to be on the show call 800-725-8816. Jill, inspire us.
Jill DeWit: Okay this sounds simple but so many people miss it. If you really want to get ahead in whatever you’re doing, show up early and stay late. I mean, it’s silly but let’s think about this, folks. Whatever you’re doing are you really showing you’re interested and committed or are you walking in late and then you’re leaving early, you know, and just not having the right attitude. Whatever you’re doing you want to be there and I mean, it sounds silly but you want to get it done. Show up with a smile on you’re face, be there early, be ready to go and kill it all day long. I’ll tell you, I’ve seen and tested this. It is a sure fire way to get ahead. You may not even be the best at what you’re doing but if you’re showing up with the right attitude and you show up early and stay late and you’re there jumping in to help with whatever it is, it’s going to, it will show. What do you think, Jack?
Jack Butala: I think that’s fantastic advice, you can see it right in Success Plant. All of our members make comments about what they’re doing that day. What they’re buying, what they’re selling and it’s really, really evident who’s excited and happy and showing up for it and who’s kind of like really allowing the tiny little things that may delay your success … You can see both sides of the fence, who’s real excited about solving problems and who’s real not so excited about it. Yeah, I think that’s fantastic advice. I think like always some of the most simple advice is the best. Well said.
Jill DeWit: Thank you. We forget some times. It’s kind of funny, you know. You and I talk about things all the time. I see people doing things like you just said in Success Plant. I’m like where are they going this? I kind of reel them back in and go all right everyone let’s be real simple here. Are we looking for problems and causing some stuff? Are we making this harder than we need to? Let’s just make it real simple and like simple advice, simple little things are good little reminders. Thank you, Jack.
Jack Butala: Excellent. Join us in another episode where Jack and Jill discuss how to use information, that’s me.
Jill DeWit: And inspiration, that’s me.
Jack Butala: To get just about anything you want.
Jill DeWit: We use it everyday to buy property for half of what it’s worth and sell it immediately.
Jack Butala: You are not alone in your real estate ambition. It’s an awesome topic, Jill. You know I brought these 2 topics up the east of the Mississippi and west of the Mississippi topics because I’m getting a lot of questions lately about does this work in New York? Does this work in North Carolina? The answer is yes, yes, yes. It works with apartment buildings, by the way.
Jill DeWit: Exactly.
Jack Butala: What I think is because a lot of what we do is west, it tends to throw a lot of people off and say “well it only works over there. It only works for large properties that are very, very rural out west.”
Jill DeWit: Isn’t it funny? Never mind it works for an apartment building in Atlanta. Dream it up.
Jack Butala: We’re going to cover that in the next show.
Jill DeWit: Exactly.
Jack Butala: Information and inspiration to buy undervalued property.
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