Quentin Tarantino’s House (CFFL 531)

Quentin Tarantino’s House (CFFL 531)

Transcript:

Jack Butala:                         Jack Butala with Jill DeWit.

Jill DeWit:                            Hey, good day.

Jack Butala:                         Welcome to our show today. In this episode, Jill and I talk about Quentin Tarantino’s house. What the heck is this about?

Jill DeWit:                            Is this about?

Jack Butala:                         Before I get into that, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free.

Jill DeWit:                            Okay, Joshua asks, “I was set to buy a 10 acre property for $1500 in Nevada, when I called the owner to get the ball rolling he said wait, we have a problem. He said we would need three signatures. One from his dead brother, one from him, and then one from his brother’s widow.” Oh my gosh. There’s no red flags there. He said, “The widow will not sign because of a family issue they had with what was to be done with the body of the brother slash the husband.”

Jack Butala:                         Oh my gosh.

Jill DeWit:                            Right, this is I believe this whole story too.

Jack Butala:                         I do too.

Jill DeWit:                            He said she would never, he said,”She never had anything to do with the land or anything but she just isn’t going to sign because she wants to be a pain in the butt. I figured everyone would say move on but I thought I’d drop it in here anyway.” Joshua, you are correct. Do you really want to take on this family feud?

Jack Butala:                         Yeah.

Jill DeWit:                            And try to solve where the brother is going to be buried or whatever the situation is? Just to buy a stinking piece of land? I gotta say.

Jack Butala:                         Well said Jill, well said.

Jill DeWit:                            I would’ve not even, this is one of those I say, I wish you all the best sir and have a nice life. Click and then I move on.

Jack Butala:                         All kidding aside, when you run into these issues and we’ve all been there.

Jill DeWit:                            Mm-hmm (affirmative).

Jack Butala:                         You should of put them in two piles. One pile is, this is beyond me, I need a title agent to really go through this and get it done. So there’s one pile and the other pile is, which is where this one goes.

Jill DeWit:                            Yeah.

Jack Butala:                         It’s unclosable.

Jill DeWit:                            Yeah.

Jack Butala:                         This property is not …

Jill DeWit:                            Title agent can’t solve a family feud.

Jack Butala:                         That’s right.

Jill DeWit:                            Or dig up a brother or a dead guy and make him sign.

Jack Butala:                         They need a psychiatrist. A lot of times, I don’t see it too much lately for some reason but a lot of times and it’s my favorite I guess because I pay attention to it. You need the signature of somebody but they went, they just chucked life in there in Mexico somewhere having a blast.

Jill DeWit:                            Right.

Jack Butala:                         And so, we had a deal like that, not that long ago and it was a great deal. I’m like, you know what? Should I send a private investigator to find this guy? But I don’t think even if they found him, he just doesn’t care.

Jill DeWit:                            No.

Jack Butala:                         He’s having fun down there.

Jill DeWit:                            It’s not worth it.

Jack Butala:                         So.

Jill DeWit:                            Sorry Joshua.

Jack Butala:                         Yeah, it’s just like and …

Jill DeWit:                            You are 100% correct and this would, this is going to take up too much of your time and probably never get solved.

Jack Butala:                         And remove him from your list.

Jill DeWit:                            Yeah.

Jack Butala:                         That’s too bad actually because you hate to see a good acquisition go away like that.

Jill DeWit:                            Well you know what, here’s the bottom line too. The price is arbitrarily low and I shouldn’t say it is. It could be arbitrarily low because they just want to get something for it because they know they have a mess.

Jack Butala:                         Yeah.

Jill DeWit:                            You know what I mean, so it wasn’t meant to be.

Jack Butala:                         Yeah, if you have a question or you want to be on the show reach to either one of us at landinvestors.com. Today’s topic, Quentin Tarantino’s house. This is the meat of the show.

Jill DeWit:                            This is one of those topics that Jack sits down sometimes and thinks about shows. Sometimes I do it sometimes, Jack does it sometimes, we do it together sometimes. And this is one of those topics that I wasn’t here for, so when I read this topic today, I’m like, “Woo, where, how, where would you like to take this one?” But it is something that we talk about. So I’m glad that you shared this.

Jack Butala:                         Jill and I threw a massive party recently at our house and the city that we live in requires you to pull a permit, so we did. Part of the process of pulling a permit, if they grant you getting a permit, is you have to notify your immediate neighbors, so we did. In Jill fashion, put a cute little flyer together and so, one of the neighbors’ comes over and says-

Jill DeWit:                            Went door to door.

Jack Butala:                         Yeah, door to door.

Jill DeWit:                            And we, well and you invite the neighbors, we all know that from our high school years.

Jack Butala:                         The next door neighbor comes over whom we’ve never met because they live out of town and they only come to the house once in a while. Says you know, “Do you know the story of this house that you guys live in?” I said, “Oh no, here we go.”

Jill DeWit:                            Yeah, who died here?

Jack Butala:                         Yeah, Saint Valentine’s massacre.

Jill DeWit:                            Oh no.

Jack Butala:                         She said, “It’s Quentin Tarantino’s house two people before you.” So then she told me the whole story about Chris Rubino lived with him at the time and then, which movie he was doing at the time. If you don’t know who Quentin Tarantino is, shame on you.

Jill DeWit:                            Look it up.

Jack Butala:                         It got me thinking, I’m like all right, wait a second. Is the house more valuable because Quentin Tarantino lived in it slash owned it? Do celebrities increase the value of property? Then I started thinking about these Santa Barbara ranches and the people that own these things. They’re name brand actors. And I think the answer’s yes and I wanted to bring it up just for the whole point of the show.

Jill DeWit:                            Yeah.

Jack Butala:                         Is there some intrinsic value of the people who’ve owned real estate? Before you or before you know, when you’re looking at it like, “Wow man, I can monetize this somehow.”

Jill DeWit:                            Yeah, someday someone might say, this was Jack and Jill’s house.

Jack Butala:                         Boy, that’s sad. No, no, no, let’s just stick with the Tarantino’s thing.

Jill DeWit:                            Yeah, right, right.

Jack Butala:                         That’s what they’re going to say.

Jill DeWit:                            Oh no, yeah.

Jack Butala:                         Jack and who?

Jill DeWit:                            What?

Jack Butala:                         The people in the nursery rhyme?

Jill DeWit:                            Yeah.

Jack Butala:                         Whatever. Tarantino’s house? Oh okay.

Jill DeWit:                            Oh all right, we know who that is.

Jack Butala:                         Then I got to thinking, Donald Trump brands himself, this is not a political thing.

Jill DeWit:                            That’s true.

Jack Butala:                         I don’t care about, I do not care about any politics with him. I’m just saying before the politics and he branded very success-

Jill DeWit:                            There’s a reason he calls it Trump Tower and all that.

Jack Butala:                         And that’s and then I started thinking, that’s what it is, he’s been branding himself. So you got, if you got two high rises that are the same property, one says Trump Tower on it and one says nothing. One, two, three you know, Hollywood Boulevard.

Jill DeWit:                            Right.

Jack Butala:                         Which one are you going to go look at first? Probably Trump, well maybe not anymore but before the politics.

Jill DeWit:                            Yeah.

Jack Butala:                         You know, before he probably wrecked his real estate career by running for president. I think that you would, there’s a value of branding stuff like that.

Jill DeWit:                            I know.

Jack Butala:                         Then I got to thinking, what if Leonardo DiCaprio or anybody that’s got a branded name, anyone, started to buy apartment buildings and clean them up and say this is like, DiCaprio Arms? It’s a DiCaprio building. I think that could work.

Jill DeWit:                            I agree. There’s a reason why we all talk about this too. I told you the other day, I’m like, “Hey, I was reading a magazine in Eminem’s house, in Michigan’s for sale, isn’t that interesting.” I’m even saying something about it, you know?

Jack Butala:                         Right.

Jill DeWit:                            It does peak. You know what, it differentiates it I guess and we’re a little bit intrigued.

Jack Butala:                         Yeah, it’s like a lot of times we have a member who puts a trailer, puts a regardless of the quality. When he buys land, he pays somebody, he goes out on Craigslist and finds the cheapest trailer, like a mobile home, that he can find. I mean, you can buy it for like $500. People will come and will pay to come and get them. So it cost him like 1000 bucks, 1200 bucks for the whole thing and somebody goes and moves it, slap it down. They don’t connect it, they don’t do anything about it. He takes pictures of it and he sells property immediately. And it’s just what Jill said, it totally differentiates the piece of dirt from everybody else because its got a structure on it. Now it’s not a land deal. It’s a house deal.

Jill DeWit:                            Exactly.

Jack Butala:                         This whole Tarantino thing, I’m a huge fan.

Jill DeWit:                            Yes.

Jack Butala:                         You know, so I was blown away.

Jill DeWit:                            Oh by the way, yeah, that’s-

Jack Butala:                         I called all my friends. I live in Tarantino’s house.

Jill DeWit:                            Jack said, “Well now we’re not leaving for sure.” I said, “No, we’re not.”

Jack Butala:                         Which is fine with Jill because for the record and I probably shouldn’t say this, pretty much every day Jill rolls around on the floor because she loves the house, just all happy.

Jill DeWit:                            I love this house. It’s very true.

Jack Butala:                         It’s happy to have happy women in your life, trust me.

Jill DeWit:                            Exactly.

Jack Butala:                         I think and it would be hard to disagree that living in or marketing some celebrity’s house, no matter how obscure they are, including us, there’s probably some value.

Jill DeWit:                            It’s interesting you’re right, yep.

Jack Butala:                         It makes me wonder who the heck else lives around, lives in this neighborhood, you know?

Jill DeWit:                            Oh, I know.

Jack Butala:                         I wonder.

Jill DeWit:                            Yeah, I have to think. Well, we know, I mean we know, I can’t say it now but there’s several people that are, we’ll just call South Bay.

Jack Butala:                         Have you looked into this?

Jill DeWit:                            You know this, we all know all the celebrities and all the sports people up and down this beach.

Jack Butala:                         Oh, the sports people, yeah.

Jill DeWit:                            Yeah, come on and you know, TV, movie producers.

Jack Butala:                         Right.

Jill DeWit:                            And stuff up and down this beach.

Jack Butala:                         Right, right, yeah.

Jill DeWit:                            Well, even the other day remember, we were having a conversation with our friends. Oh, this is good. Well, we were having a conversation with some friends of ours and she made her husband go to this party. Remember this, like it was a guy party.

Jack Butala:                         This is how it went, “You’re getting out of the house tonight.”

Jill DeWit:                            Yeah.

Jack Butala:                         You need to go to this thing with your friends.

Jill DeWit:                            It’s a man thing, the guys just redid his backyard, he’s throwing a party, you’re going.

Jack Butala:                         He’s got a pool and stuff.

Jill DeWit:                            I know you don’t know him but you’re going to go.

Jack Butala:                         Exactly and he said, “Oh and so, it ended up that Jerry Weinstein’s party was pretty fun.”

Jill DeWit:                            Yeah, exactly.

Jack Butala:                         I’m like, oh my god. Can you please call me the next time that happens.

Jill DeWit:                            Yeah, exactly. What the heck?

Jack Butala:                         He’s like maybe the largest sports producer, telecast producer around right now.

Jill DeWit:                            Yeah.

Jack Butala:                         I’m sure that there’s a sports bar in his house or something, you know?

Jill DeWit:                            Yeah, oh yeah. Good stuff.

Jack Butala:                         If you have a question … Oh, that’s the wrong line to read. 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:                         In just about anything you want.

Jill DeWit:                            We use it every day 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. I think the trailer part of that was useful. Everything else was kind of silly.

Jill DeWit:                            Yeah, I’m just kidding.

Jack Butala:                        Information and inspiration to buy undervalued property, from celebrities.

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