Finance Friday with Steven Butala and Justin Sliva (LA 898)
Finance Friday with Steven Butala and Justin Sliva (LA 898)
Transcript:
Steven Butala: Steve and Justin, here. Welcome to the Land Academy show, entertaining land investment talk. I’m Steven Jack Butala with Justin Sliva, broadcasting from southern California and Dallas-Fort Worth. Today, Justin, talk about the deals we’re doing on finance Friday. I’m sure you’re as busy as we are.
Justin Sliva: Dude, it’s been insane. It’s insane.
Steven Butala: Before we take a question, just give us the raw numbers, like how many came in this week and how many are due?
Justin Sliva: Let me count them real quick. Two, five, seven, eight, 12 we green-lit.
Steven Butala: Wow.
Justin Sliva: We had 47 properties come in this week, and I have two more sitting on the desk I haven’t looked at yet.
Steven Butala: That’s like 25%, 20%?
Justin Sliva: Yeah. This week, we had quite a few come in that I didn’t go with just because of access and what they were. It was all the same asset type. The high price was a little bit high. But, man, this is the week of waterfront properties. I’m telling you. I’ve got some great waterfront properties that I’m, like, stoked about. So this week has all been waterfront that looks like we’ve been going with, so I’m happy about that, but let’s get our question going and we’ll talk about that in the meat of the show.
Steven Butala: Perfect. 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. I’m going to ask the question and Justin’s probably going to answer it.
Jake asks if you have duplicate records and the best practice is to delete one and mail the other, all things being equal, are people likely to want to sell their smaller parcels or their larger ones? Since smaller parcels tend to be higher priced per acre, would it be smarter to offer the purchase bigger one? For example, I’ve a person who has a 31-acre property and a 137-acre property. Which one would you offer on?
The way I would do this would be to decide to offer the smaller-sized parcel, sort that column of dupes from high to low, and remove the duplications which would leave me with the smallest. Or if I want the largest, would I simply sort in the other direction?
What do you think, Justin?
Justin Sliva: I normally go and sort largest and smallest when I’m scrubbing through. So the price that they’re going to get is an actual bigger value amount when they see that on their letter.
Steven Butala: A dollar amount?
Justin Sliva: Yeah, the higher dollar amount, not per acre. We think in a per acre, but if I’m somebody opening the letter, I’m thinking, “Oh, this guy’s offering me $15,000 versus $7000.” So that conversation’s a little bit different. Then they go, “Well, I got this other one, too.” Well, great. Then I’ll negotiate down on that price and try to get it for the same price per acre because it’s a smaller per acre amount, but it’s the higher dollar value amount.
Steven Butala: Right. That’s exactly what I do. I mean, you always want … It’s hard to convey this to somebody who’s brand new, but the higher dollar amount, when they open that letter and there’s a higher dollar amount, there’s a more likely chance that they’re going to respond to it the way that you want. Or let’s just say respond to it.
Justin Sliva: Yeah.
Steven Butala: That’s what you want. You want to provoke response.
Justin Sliva: Nah. It’s perfect. The reason that is is to me, if $7000 may not change somebody’s life. $15,000 may, may be that life changing event that they need that says, “Oh, wow. This actually does something for us, and now, we’re willing to talk.” And now, they’ve got the idea of selling in their head because of that life changing thing, and then go through a little bit farther and see you more property.
Steven Butala: Right. Couldn’t agree more. That’s exactly what our experience has been.
Justin Sliva: Perfect.
Steven Butala: This is the meat of the show. So, Justin, tell us, I mean. You teased us a little in the beginning.
Justin Sliva: Yeah. Waterfront property. We got two back in Oklahoma. It’s on one of the cleanest rivers there. The guy that we’re funding it for, he called me. He’s like, “Man, I think I kind of want to keep these for myself.” I was like, “I want to keep them for myself, but they’re too far away.” It’s two properties. They’re 15 acres. It’s on the cleanest river in Oklahoma. It’s on the high side, too, of the bank, so 30 feet out of flood zone, all treed, private access with a gate that keeps everybody out. It’s spot on. It’s one of those ones that I told him he’s going to be thinking about for the next 20 years in this business.
I think we’re in it, probably around 15-16. Cool thing about it was the guy countered back pretty high, and we came in. I told him, “Hey, draw the line in the sand. Get it there,” and he did. He’s like, “Man, the guy came down on his price for us.” So it’s a cool thing to see that happen, when they have that tough conversation. That’s kind of one of the things that we’ve been talking about is having those tough conversations with people and don’t go chasing the pipe dream.
Steven Butala: Yeah.
Justin Sliva: Another two properties we were negotiating before Christmas on. They’re in Kentucky. There’s a state park up there and these two properties sit across from the state park, and they’re only accessible by boat, but they have cabins on them. They’re cabin on both pieces. One’s 8, one’s 7 acres. 16 total acres, so seven and some change and 8 and some change. I can’t find comps to sell it, so that’s what I’m doing right now is going through the comps, everything I can find on that area, but it’s so beautiful there. They have the Google Earth pictures from the state park and you’re looking at our property, and you’re like, “Man, this is amazing.” So we’ve got it under contract, too, today.
It’s got some fun to it.
Steven Butala: For how much?
Justin Sliva: That one, 16,000 bucks.
Steven Butala: For both of them?
Justin Sliva: Yeah. For both with cabins.
Steven Butala: Ah, man. Like it. At $8,000 cash, then you start to think about should we just keep this?
Justin Sliva: Yeah. Yeah. This one, you have two different properties. One has a trailer house. One has a cabin. You could keep one, and sell the other and be money ahead, but there’s a little bit of hair on this one, so we’ll watch for those at closing. Daughter’s selling for dad, who’s in prison. There’s a POA, Power of Attorney in place, so we’ll see what closing gets done, and that’s where title comes in because Kentucky is the hardest state to close in. If you ever decide to shop, Kentucky’s the hardest one to close in because the [inaudible]. You throw in your team, your title companies, your attorneys, you get them in place, and that’s how you do those deals. You find these diamonds in the rough in these areas like that.
Steven Butala: Wow.
Justin Sliva: It’s going to be a neat thing.
Had a couple of properties come in in Arizona, Colorado, that had riverfront, lack of access, but just beautiful, on the Little Colorado River in Navajo County. Beautiful piece of property. No access. It’s tough to see 80 acres, and he had it priced right, and the guy brought it in. He’s actually not a Land Academy member. He’s a new land guy. He’s been following Land Academy. Kind of stealing the free tips and tricks of the trade, able to do that, and kind of work from there.
Steven Butala: Wow.
Did you pass on that 80 acres on the Colorado River?
Justin Sliva: It just came in. I told him that I didn’t like that the access because I’m an access guy. You know Arizona better than I do, so it’d be something I’d want to send. I can send it over to you, so you can take a look at it.
Steven Butala: I mean, that’s why I love working with you because we just send you a Texas deal that I know is really valuable, but it’s in your backyard, and I just know that you’re going to get the deal done and get it done properly. Actually, if you’re going to pass on that deal, send it my way and I’ll-
Justin Sliva: Okay.
Steven Butala: Because we’ve gotten around access in Arizona several times.
Justin Sliva: Yeah, and it looks like it had a little dirt trail to it. It’s not far off the road, but it’s 80 acres and it just sits right on this Colorado River, the Little Colorado River. It’s a great piece, but again, it’s just the access has kept me from wanting it. I can’t remember what he’s in on it. I think it’s 11 grand. I could be wrong.
Steven Butala: For 80 acres?
Justin Sliva: Yeah.
Steven Butala: So here’s the thing. There’s some version of water rights, if this truly deeds right up to the river.
Justin Sliva: Okay.
Steven Butala: My information’s probably at least two years old.
Justin Sliva: Okay.
Steven Butala: But there could be a water play, so.
Justin Sliva: Okay. Perfect. We’ll take a look at it.
Steven Butala: That’s why I love working with you because, you know.
Justin Sliva: Yeah. No. Got it.
Other than that, a couple of pieces in Arkansas came back that we had put some stuff out. So we bought some there.
Arizona had two horse properties come back, and I hate that. I don’t want to say this because I know you made your money in desert. I hate desert property. I think, this week, out of the 50 properties I’ve looked at this week, 35 of them have been desert. I’m like, “Come on, guys. Use me to get you out of the desert.” I don’t want to sound arrogant in that manner because desert has made you plenty of money, and a lot of people plenty of money. We’ve actually sold out of all our properties this week that we had personally for Land Mule, but it’s just-
Steven Butala: Wow.
Justin Sliva: Yeah.
Steven Butala: You sold out of everything?
Justin Sliva: I’ve got the house, one of the houses finished on the market. It’s supposed to have a contract. They sent us the offer price. We’re just waiting on the paperwork to sign. It didn’t do as well as we wanted to, but it moves up and opens up capital. And then, I’ve got one property, it’s like .33 acres on a golf course that I’ve got left. Everything else is sold, contracts on them, waiting for funds to come in.
Steven Butala: God. I wish I could say that. Our list moved below 150.
Justin Sliva: Wow. Wow. Yeah. But that’s not to say we’re 30 properties in the Plum right now. A little over 30 properties, I think. I haven’t counted up since we green-lit these other ones. Plum side is staying plenty busy for us, but the Land Mule side is just sold out. We’ve got, I think, another 15 properties inbounding that we haven’t got deeds in yet, so we haven’t listed.
Our pipeline’s full. It’s just different type of product class that we’re working through, different legs of the business.
Steven Butala: So you’re sold out for the next 30 minutes, is how it is.
Justin Sliva: Well, because we hired the transaction coordinator to help with our Plum. If anybody wants to use her, she’s ready to go, and she takes a percentage of the deal, so we have her listing some products that we bought from a estate, and we have her doing that. So she’s running through that. She’s been killing it with her research, due diligence, going through all that. She’s listing some bigger properties up in Washington as well, so just been awesome to see.
Steven Butala: Estate properties are tough. There’s a lot of paperwork involved.
Justin Sliva: Yep. Yep. So.
Steven Butala: But that keeps people away.
Justin Sliva: It does. I’ll say that comps on some of these properties were four to five thousand dollars and we got them for sub-50.
Steven Butala: Awesome.
Justin Sliva: I mean, those are deals that you like.
Steven Butala: Yep. We just opened funding on January 1st, and the first nine or 10 days, let’s say, we’ve got … In fact, Jill did a show about it yesterday. I think 20 properties in. After the show, I green-lighted about 8 of them, I’m going to say.
Justin Sliva: Okay.
Steven Butala: More than I thought as a percentage, but great infill lot, [inaudible] great infill lot in Fresno, California.
Justin Sliva: Nice.
Steven Butala: One in a great wooded property in Washington state.
Justin Sliva: Nice.
Steven Butala: A home run in Ohio.
Justin Sliva: Okay.
Steven Butala: The property’s literally between a Dairy Queen and a McDonald’s, so. There’s some light flooding issues we’re going to have to get around, but again, that’s why it keeps everybody out.
Justin Sliva: Yeah. Sometimes you put in a little bit of work on the front side to help you on the back end.
Steven Butala: As always, some of those properties, I’m going to present them to you, so we can do them together.
Justin Sliva: Perfect. Yeah, we-
Steven Butala: There’s a couple, like the Fresno stuff that it’s on our backyard, we’ll just burn it through. We’re all set up. You know?
Justin Sliva: Yeah. Those are nice. So, the properties that kind of make me nervous, and again, I like that idea that it’s different for me and you because you know Arizona extremely well. California’s y’all’s backyard. I get a lot of stuff from California that half infill, rural infill, like a Fresno five-acre. I’ve gotten a couple of those before. Those make me nervous because, you know, one side of the hill, it’s a million-dollar home. The other side of the hill, you’re looking at trailer parks. I don’t know the California regulations well enough to be like, “Oh, yeah. Spot on.” I’m conservative on those on my estimates. And that’s the good thing for y’all is that you’re not, you can know exactly. Dial it in what you think it’s worth and move through them pretty quickly. So, that’s awesome.
Steven Butala: That’s a great point. What’s the process that you go through to green-light or to red-light a deal?
Justin Sliva: So, when a deal comes in, if they have extra information, I have some guys that build me these great presentations, and realistically, I need the APN, the county, the state, what the contract price is, and if there’s anything like death on a deed or anything like that, we’re going to need to know about, so we can consider that in the closing. But I’ll bring that in. I’ll find that exact same property on the different land sites, and Realtor and Zillow that have map view, and then look at sold comps and the comps all around that area. Not county, but I mean, it’s micro look at it.
Steven Butala: [crosstalk].
Justin Sliva: We see what’s sold. Yeah. The funny thing is, you’ll see some of those properties come back and they’ve been listed for two or three years, and you’re like, “Hey, shit. This one has been listed. Why hadn’t it sold?” And the person bringing you the deal will say, “Oh, I think it’s going to bring $200,000.” It’s listed for 205. And I go, “Okay. Well, why are we going to be able to sell it for more than they’re able to sell it because they would take a $205,000 deal, if we’re offering 50 and they’re jumping all over it?” Those are type of things that we look at.
That’s usually what drives it is do A, do we see enough price? Does it have access is a big thing?
Steven Butala: Yeah.
Justin Sliva: And is there ability for an end user? We had a couple deals come in in California this week that, one deal, it was a great lot, price was right, but the lot was, it was like this down the middle of it. It was like a peak of a mountain all the way through it. For the first hundred feet on the property was a 37-foot elevation change.
Steven Butala: Geez.
Justin Sliva: And so, a one to three and that’s what you use in engineering to hold up like railroad tracks. Two to one is a good slope. Three to one is what they consider, you know, per ideal in the engineering world, and I was like, it’s a three to one slope. We could build something up there, but it’s got a very narrow spot. It’s going to need a lot of dirt work. But it wasn’t a bad deal, it just didn’t fit because it’s got some time it’s going to need to be taken to get that one sold.
Steven Butala: Yeah. I agree with you. We get properties in with some stuff attached, and sometimes not. Most of the time not. But I go through the exact … Quite honestly, I don’t look at the stuff attached. I will read the notes, but I go through the exact same due diligence process. It takes me less than 60 seconds to know whether or not I’m going to do the deal.
Justin Sliva: Yeah. I check Parcel Fact first. You know, Parcel Fact’s huge. We check Parcel Fact and make sure it has the access right off the bat. If there’s no road to it, then it’s like, “Okay. Hey, it doesn’t have the physical access that I like, but it may be a legal access.” So I’ll still look through it to see if it comps where it needs to be. And then, tell a person, “Hey, it has a great price. The access doesn’t meet what we like, but I think you could still make money on it. It’s just not going to be something we can partner on.” Some people are more comfortable with that. My threshold’s not there on that stuff.
Steven Butala: We’re doing a deal with one of our members in Coconino County, where I was convinced the property didn’t have any access, and the guy that brought it to us says, “That’s what I thought, too, but there’s pipeline maintenance road that goes there, and here’s why.” He actually provided real access, and I’m like, “Done.” I mean.
Justin Sliva: Yeah.
Steven Butala: This is actually what the buyer needs to know, too.
Justin Sliva: It’s great. We bought a property in Oklahoma like that that had access to a pump on a river that ran through the side of the property, so they had a beautifully maintained road, perfect gate, and it was like a five-acre property, but it had a road all the way down the east side of the property. I think we picked it up for, I don’t know, it was like 2500 bucks, and ended up selling it for 10,000. The people were happy. They were like, “I got a brand-new road all the way across my property, and I can get into any piece of it, and it’s maintained by somebody else.” It was a great piece.
Steven Butala: That’s great.
Justin Sliva: Yeah. It’s a great attribute.
Steven Butala: Sick margin.
Justin Sliva: Yeah. So. Busy week, again. I’m glad to see that y’all taking it on and jumping in. I’m glad that we kind of helped lead that way and say, “Hey, you know, this is a niche that’s not filled.” As we’ve talked about several times through coming out and visiting with y’all in LA, was like, hey, what’s that barrier of entry for us as a new land investor? It’s the knowledge, which, well, hell. Y’all got that taken care of. It’s the money. Well, now we’ve got that taken care of. Now, it’s just a matter of putting a mail in a box and let’s all blow up.
Steven Butala: Yeah.
Justin Sliva: That’s the cool thing about all this is being able to scale that up.
Steven Butala: So, I have wanted to ask you how much do you get involved, if at all? After you fund a deal, the deal’s done. You and your partner own it, and it’s on its way to the sale process. How much are you involved?
Justin Sliva: It depends on the person. I ask for a marketing plan. I know one of the guys, [inaudible], showed the marketing plan, and I do ask them for their marketing plan. They’ll let me know every site they send them. I have them send me those links, and then I verify those links. If they have something like, it may have a guy that doesn’t have lands dashboard, and I have three or four spots left on mine, I’ll say, “Hey, if you don’t have it, don’t spend the 260 right now. Just send it to me and I’ll list it,” and then everything I get on it, I just forward it to him. That way we can get it that be everywhere mentality.
You know, Luke does real good with his co-op, so I’m on his co-op, and I’ll throw some of the properties on there to help some of those guys out. It’s the be everywhere mentality. We talked about that on our marketing plans for our show on the Cash for Friday podcast, but we talk about that, and it helps them kind of get there.
Some guys have it all figured out. You don’t even, you just point them, you just sign the papers, and say, “Hey, we’ve closed.” And they’re gone, and they’ve got a buyer’s list and they’re running through it. They just need your money. And then there’s other guys that are still kind of new, and they’re looking for a little bit of guidance, and that’s that partnership. You know, Plum provides that with them. That’s where we say, “Hey, we’re going to partner with you. We’re going to help you through this.” That’s kind of what we try to do.
For the most part, everybody’s done pretty good. We just sold our oldest property, which was bought beginning of October. We paid, it was a Plum property, $9500, I think we were in. Sold for $22,000.
Steven Butala: Excellent.
Justin Sliva: Guy wanted to buy it on terms. We offered to buy out the terms deals for equity piece. So like if the equity is, say their piece of that one would have been six grand or seven grand, we offered to buy out for 60%. The guy spoke Spanish. I don’t speak Spanish. The guy didn’t want to use our automated payment system, so we let him buy us out for our 60%. So we took 60% of that margin and got our cash back out, and we put it back in three more deals the next day.
Steven Butala: That’s great.
Justin Sliva: Yeah. We have that ability there for them, so they can offer that terms.
We’re different than a bank though, because, hey, we’re just trying to feed our kids as well, you know.
Steven Butala: You’re way different than a bank.
Justin Sliva: Yeah.
Steven Butala: I mean, yeah. The deals that we fund, we’re not involved in.
Justin Sliva: Yeah.
Steven Butala: At this moment, because we’re so pressed for time, we just don’t have the time or the resources, or quite honestly, the interest to deal. We’re dealing with members in Land Academy that have done a lot of transactions and have a proven record.
This last deal you mentioned, what venue did you sell it in?
Justin Sliva: That one, it sold, I think it was on Zillow. Either Zillow or it might have been flat MLS. All the guys I have list on a flat MLS or with a realtor. I’m okay if they want to use a realtor. We just want the property sold. I think y’all talked about it in one of your podcasts last week, velocity of money. Me and you have had that conversation. If we could turn that money, put it back into a deal, we’re just going to keep turning it, and you’re going to compound into a bigger amount than that, “Hey, just hold onto it for that extra thousand bucks.” Well, I can get into another deal, flip it quicker, and then keep moving.
And so, that’s and the exit strategies are, I think that’s 2020 for Land Academy. I’m giving you 2020, right now, is the exit strategies. How do we look at the different exit strategies to grow to more of a commercial niche? Whether that’s subdividing or things like that. So Land Academy 3.0, I think is what we’ll call it.
Steven Butala: All right. I like it.
Justin Sliva: We’ll work through there.
Steven Butala: Land Academy 3.0 Exit?
Justin Sliva: The exit?
No, I think that that’s our next step. We’ve talked about how to give them the knowledge. We’ve talked about the money. Now, what does it look like on that next step for us? And where does it go from here?
Steven Butala: That’s awesome, man.
Justin Sliva: I’m always thinking for you.
Steven Butala: I don’t see this slowing down at all. Do you?
Justin Sliva: No. No, it’s a … I think that once some people have some good … Like, we have a couple guys that we’ve funded and sold two or three properties with them, and they can’t get me properties fast enough. They had other investors that they’ve worked with, and they’re like, “Hey, they didn’t answer back in the first 20 minutes. Will you take this property?”
Steven Butala: Awesome.
Justin Sliva: And so, you know. And you team that with the time it takes us to turn around. We’ll turn around a property in about 12 hours. Sometimes a little bit more. A lot of time less. It just depends on where I’m at in the house because I don’t have to go to the office. I’m officing out of the house right now. We turn it pretty quickly, and that’s a good thing.
Steven Butala: That’s your primary focus, too, right?
Justin Sliva: Yes. Yes and no. The houses that we have flipping here, it’s kind of primary right now, but Plum is slowly taking over to be a little bit more, but we do have our land business we’re still trying to run as well. The houses will go that we’ve got. Getting Beth on board was our focus for the first part of this month. She’s rocking and rolling now. And then, now, getting everybody going through Plum and seeing those happen.
Like I said, this week we had seven either get contracts on or sell cash, this week alone. When you see that turn that quick, so buyers are back out. I sold four on Facebook this week that had been on there for three months. It was just crazy to think. They’re like, “Hey, I’d like to go out and look at the property.” I’m like, “Okay, cool. I’ve got two other people saying they’re going.” “Okay. Hey, how do I pay you?” And they just go to our website, click the payment, or you can wire us the money, or you can send a cashier’s check. “Okay, cool. I’ll send a cashier’s check right now.”
Steven Butala: So, Facebook Marketplace?
Justin Sliva: Yeah. Just on the Facebook Marketplace, yeah, under our personal pro … I think it has to do with it doesn’t attach to your business when it’s on there and you list it personally. They see who you are. They’ll click on your thing and they’ll say, “Okay. Hey, this guy actually is active person on here,” and it’s not a, you know, somebody that has one picture from 2018, and they started their Facebook page in 2018. You see 11 years of experience on Facebook. You see a guy with his family. It’s a little bit more trusting than, you know, just a business account sometimes. So, we do it both ways.
Steven Butala: Man, there’s just no replacement for posting it everywhere.
Justin Sliva: You’re exactly right.
Steven Butala: No replacement for marketing. You know? I learned that way late in life. I was one of these people who was like, you know, if it’s a great piece of property, and it’s priced perfectly. They’ll find us. That’s just not what works.
Justin Sliva: No. They want it force fed to the. They want it sitting in their lap, and then they have no-
Steven Butala: Looking pretty too.
Justin Sliva: Yep. Nah, you’re exactly right. That’s one of the things, that’s why I stay a little bit more involved with the pictures, is because, actually, I’ve seen some great pictures come back from our properties that we’ve funded, and I use them for content. I mean, it’s awesome when you see a picture like, that looks like Hallmark movie. I have a video up of one like that. We have a guy that put a video together, and he made a promotional video, and I was like, “Jesus Christ. I want this for my personal business. Hey, can your guy edit like a town, like, I want a city fest skyline and then into this?” He’s like, “I’ll talk to him.”
But, I mean, again, it’s the marketing and it’s spending that little bit extra money. That’s that difference of buying $500 properties or buying a 10,000 that’s worth $30,000 property. You can spend 300 bucks on a video at that point. If you spend 50,000 on $150,000 property, you’d be asinine not to get somebody that’s a professional involved to make that drone video for you.
Steven Butala: That’s what I think, too.
Justin Sliva: Yeah. So. It’s great to see.
Steven Butala: Well, you’ve done it again, spent another 15 minutes or so listening to the Land Academy show. Join us next time where we discuss another interesting episode and answer questions posted on our online community, LandInvestors.com. It’s free.
As always, you are not alone in your real estate ambition.
What’s next, Justin? Like, what’s your next week look like?
Justin Sliva: Next week looks more of the same as this week. Hopefully, more waterfront property. We have a couple properties we’ll need to … I’m trying to, I’m looking over my deed stack to see. I’ve got one that needs notarized. A couple of checks come in and some disbursements on some stuff, but just more of the same. Hoping to have this house finished up, the contract signed, and everything closed, so we open up some more capital. It all turns back into it. I mean, it opens up $200,000 more in capital to go back into all this.
Steven Butala: Everybody I know has a house sitting out there, us included.
Justin Sliva: Yeah.
Steven Butala: We have a house sitting out, we’re going to make $120,000 on this house, and we’ve all just decided … And it’s been for sale for, like, three weeks, which is unheard of for us. We’re always like, first three days it sells. But we decided to retail this house during the holiday seasons, and now, we’re one of those people like you. We have a house. And it’s like, ah, I’m starting to think about it, but not really worry about it.
Justin Sliva: Yeah. We listed-
Steven Butala: People go through it. You know?
Justin Sliva: We listed Thanksgiving, and had six showings between and til after Christmas. The first weekend after the first, the last week, weekend before last. I’m trying to think what today is comparatively to us. We had 10 showings in two days, and I was like, “Where have these people been?” We dropped the price 20 grand. You know, and I’m like, “Where they at?” And then, offers. Like everybody’s like, “Oh, yeah. We just gotta call this. We’re gonna check in on this. We’ll get our offer over tonight. Here’s what we’re going to offer. Are you okay with that? We want to be ahead of any other counteroffers that are out there.” It’s just crazy to see how quick it’s going.
Steven Butala: We had a full price, all-cash offer on it, and they looked into it, and they found out because this is in an HOA community, that there’s an additional HOA monthly fee because this has grass. You know, it’s in Arizona.
Justin Sliva: So they have to mow it?
Steven Butala: And so, they said, “Nah. We don’t want it.” I’m like, that killed the whole deal.
Justin Sliva: I’ll give you that back at closing. I’ll pay for the year. First year’s on us, guys.
Steven Butala: We said all that. I just think they’re like, nah, we don’t … I think they found another house or something.
Justin Sliva: Okay. Okay.
Steven Butala: I don’t care.
Justin Sliva: Yep. We had a house with Trevor. He called. He’s like, “Hey, I got a house back on an infill lot mailer. Can you go be boots on the ground for me in DFW?” So we walk it. We made an offer. We were $1000 off on the offer. People come back to us, and he calls me, and he goes, “Dude, I don’t know what the heck just happened. They dropped the price 35 grand.” I was like, “Okay.” He’s like, “Okay. Is your buyer still good?” I was like, “Yeah. Let’s make some money.” He’s like, “I’m going hunting.” I was like, “Just send me the name. I’ll take care of it.”
So that’s the cool thing about the networking with Land Academy is that, you know, we all can work together and help each other make, you know, decent money, and work to see everybody become successful. That’s the cool thing about this community.
Steven Butala: Wherever you’re listening or watching, please, rate us there. Get your deals funded at PlumInvestors.com.
Justin Sliva: Investment group.
Steven Butala: I’ll talk to you soon, bud.
Justin Sliva: All right, bud. Bye.
Steven Butala: Bye.
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