Real Estate in 2020 Post Virus (LA 1219)
Real Estate in 2020 Post Virus (LA 1219)
Transcript:
Steven Butala:
Steve and Jill here. Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.
Jill Dewitt:
And I’m Jill Dewitt, broadcasting from cool breezy, rainy Southern California today.
Steven Butala:
Today, Jill and I talk about real estate in 2020 post virus.
Jill Dewitt:
We all want to know.
Steven Butala:
What are we heading into? What’s happening? Yeah, we all want to know what’s happening now. I took a real deep dive into the data that’s provided by lots of different agencies. It’s amazing how much data’s available and how we can use it. That’s what the show is all about. How we can use it to see what’s going to happen in the future, to buy and sell real estate, not to lose money to make money.
Jill Dewitt:
What’s interesting is I think it’s already happening and we’re already seeing it. We already know and it’s so funny because we can predict, we can kind of safely predict a lot people are with real estate. We’re already seeing it and I have some examples here in a minute, but we can’t predict and we can’t say anything else. Like people, everyone wanted to know, when can I go outside again? Let’s point about that. Let’s call a spade a spade. And no one will really answer that. Our president won’t answer. People won’t answer it. They’re afraid to say, but they all say that it’s not going to be a flip of a switch. They all kind of agree that it’s going to be some gradual thing, but anyway. We have some good answers.
Steven Butala:
Why do they get to decide anyway?
Jill Dewitt:
Good point.
Steven Butala:
This whole week we’re going to cover some stuff like this. Jill and I were, we were on a, I hope you’re doing this too. We had these Zoom calls with our friends and so, and we, it ultimately ends up being a discussion about what the hell is this all about anyway. Like I’m sure you’re having, and what I learned recently is that Jill and I are on the same page about a lot of stuff when it comes to current events and politics and all of it. Like really seriously, pretty close.
Jill Dewitt:
It’s true.
Steven Butala:
We try not to ever talk about this because we like each other and we want to keep it that way. Well, it turns out some couples are really, it’s polarized.
Jill Dewitt:
Yeah, like don’t bring them up because it starts an immediate fight. That’s true.
Steven Butala:
So all this week we’re going to address some of the silly stuff. How can you not? How can you sit and talk about real estate and not talk about what’s going on behind us, which is nothing. There’s nothing going on behind us outside.
Jill Dewitt:
I got to say, I should’ve taken a picture. Steven pointed out a squirrel. I have never seen a squirrel on our back wall behind us and I’m like, what? I should have taken a picture, it was hilarious.
Steven Butala:
There’s weeds starting to grow in the cracks on the strand here in California and it’s like a zombie movie.
Jill Dewitt:
What happened? It’s so weird.
Steven Butala:
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.
Jill Dewitt:
Ben, asks, “Good morning. Has anyone found a correlation from experience between the number of years someone has on a property and their willingness to sell? I have a lot of people on my mailers that just acquired the property within the last year and are not interested in selling. I’m looking at the idea of trying to filter out new owners. Thanks.”
Steven Butala:
This is on landinvestors.com it’s a free forum that Jill and I put together a lot of years ago. So you can just go on there and say your piece. When it comes to land and real estate investing in general, it turned out to be really popular. So on this question like lots, there’s a bunch of responses and they all are some version of what I’m going to say. Just send out the freaking mail. If you’re, I understand that efficiency is important for everything. I probably in a really unhealthy way pray to the efficiency God, to the point where Jill, it probably makes Jill nauseous.
Jill Dewitt:
Yes, it does.
Steven Butala:
And I want a great real estate yield as much as anybody in the group. But it’s very important just to send out the mail.
Jill Dewitt:
I have to say, we’re talking 65 cents here everyone. Do you really want 65 cents to keep you from getting that deal? You know, that you didn’t do it, because we think it, let’s talk about it. I mean 10 cents for the data, check and roughly 55 cents to get the offer out because everything else you’re doing is all the same. Whether you’re doing a thousand or 10,000 units, you’re scrubbing and doing all that stuff the same. Am I my right?
Steven Butala:
You’re right.
Jill Dewitt:
Okay. Am I stepping on your toes?
Steven Butala:
Not at all. Go ahead.
Jill Dewitt:
Okay. So, I’m like, 65 cents for the 10 that you might or the hundred that you might, I mean, for $65 I’d rather have the extra a hundred in there and not scrub them out and miss that deal because I’ve seen, you never know. Someone could have bought it yesterday and I’m sorry, but life happened. Somebody, someone bought it, someone bought something in January. I’m telling you right now. It’s happening right now today and then the virus hit. They lost their job. If you scrub those out, you’re missing those deals.
Steven Butala:
Especially now. So there are all kinds of ways at the end of your data scrub, everybody who’s ever done a data scrub, they go through this at the end. All right, I think I’m done. It looks done. I didn’t, I took this out. I have a checklist here. I went through my checklist, done, done, done, done, done, done. Maybe I could save three to 8% I can scrub them out because I know they’re not going to respond. Here’s a good example. Do you scrub every, in every dataset for land, there’s an owner that’s called the United States of America or some crazy stuff like the city of Los Angeles. Are they going to respond to your mailer? No. Get those out of there.
Steven Butala:
I talk about that in the program, but should I take it a step further because I’m a little cuckoo and say, I think it’d be better … Now you’re thinking and you’re going about to react on something that’s not data-driven at all. It’s just a theory or a feeling that maybe people who bought property in the last seven years, they’re not as likely, like Jill said, they’re not as likely. Maybe that’s true, but what if one of them is like, you just nailed it. So really, 65 cents to see. So that’s been my millions and millions and millions of letters that Jill and I have sent out.
Steven Butala:
There’s all kinds of ways you can scrub and maybe save 10%. Is it worth it? No. You want, you’re making a 10 to 20 to a hundred thousand dollars a deal. Why take the chance? So yes Ben, could you potentially over time win from a statistic and an efficiency standpoint, you would, yeah. Just the same way, if you play enough blackjack hands, all you need to do is win 51% and you’re going to win.
Jill Dewitt:
Thank you.
Steven Butala:
Don’t do it is my point. Just get the mail out there. If you go to the string at LandInvestors it’s funny, everybody’s like, Oh my gosh, just send it out.
Jill Dewitt:
I’m going to add because we haven’t talked about some of our stuff in a while, but the whole reason we have landinvestors.com is because we were struggling in bigger pockets. So if you’re listening, and a lot of you know what bigger pockets is. It’s a great catchall for all kinds of real estate. We have no affiliation, nothing like that with bigger pockets. But we would use it two years ago. Like, gosh, I really need more than just a land thread that I started. I really need more about it. So we made our own and that’s where we are today.
Steven Butala:
You know what I was just thinking?
Jill Dewitt:
Now, it’s huge. No, I can’t, I can’t. So if you’re doing anything with land, which you probably are because you’re listening here, I defy you to not find an answer to a question in there because now after what, six years old almost now and how many, and it’s free. So there’s people that are not members, but they’re just land pros that are in there and have been in there for years. There’s so much information. So sorry.
Steven Butala:
I was just thinking that if you’ve watched any news on TV lately, and I hope you haven’t, but if you have like on a daily talk show or anything, everybody’s at home and so they’re all, it’s just funny for me to watch because we’ve been producing this show forever. Like I know about, just enough to be dangerous about lights and camera frames per second and a bunch of stats like that. And it’s funny as heck to watch like an international anchor, go home and do their, especially when they’re talking with other people and just do it on a MacBook pro. It cracks me up and it’s all delayed. And so, hey, if anyone’s listening out there get some professional equipment, it doesn’t cost a lot.
Jill Dewitt:
Where did this come from?
Steven Butala:
It just cracks me up, because …
Jill Dewitt:
Okay. Where did that come from?
Steven Butala:
I don’t know.
Jill Dewitt:
All right.
Steven Butala:
I don’t know because I just thought …
Jill Dewitt:
It’s on your mind.
Steven Butala:
I think stuff, our stuff, everybody’s a little cooks right now, including me. Today’s topic, real estate in 2020 post virus. This is the meat of the show. I figured I’d do, Jill and I would kind of present some actual data from March because it’s April now. It’s almost the middle of April and usually real estate data is on a 30 to 45 day lag. Meaning we get all the March data in April, late April or May, which is actually pretty extraordinary. It used to be in accounting, I remember closing the books out. It’d be like 90 days and so you’d get the numbers for three months earlier.
Steven Butala:
Because of the magic of the internet and things like realtor.com and redfin.com they all live and die by data. They can see almost in real time who’s looking at what, how many people are listing things. It’s really easy for them to track it from a computer web perspective and they’re nice enough to share it. Jill and I make a half career about complaining about real estate agents, but I’ll tell you, the associations that run these real estate environments and the data part of it, they’re really, really liberal in and open about sharing all the data with us.
Jill Dewitt:
Because other people are paying for it.
Steven Butala:
My point is, and this is … Yeah, we’re not. The underlying theme in all of this is that I’m going to throw out a bunch of stats here in a few minutes and it’s all down. But my underlying theme in all of this, not just this show, but the universe of Land Academy House Academy is positive. These things are, the worlds, the real estate world’s about to fall apart. I can save you, if you don’t want to listen to any past further on this show, that’s what this is about. It’s about to fall apart and the late March data indicates that. And so that’s why we’re here. Now’s the time to make your move in real estate.
Jill Dewitt:
I agree.
Steven Butala:
So I think you had a bunch of stuff to say about this.
Jill Dewitt:
I was going to say, so here’s my thing about this whole topic. So the state of real estate basically post virus 2020. I’m already seeing it and if you’re not, you know what? I know you are. If you’re in any kind of a real estate forum or you follow articles, anything like that, I know you’re seeing it too. The deals that are falling through are staggering. I just read last week about TGI Fridays and this huge billion dollar deal that got halted because they’re not going to proceed like they originally intended. Now post virus, they’re already pulling the plug. I’ve seen so many homes. This is my, the one that really hits me in the face. I can’t go onto Realtor or Redfin. I get all these email updates, because you searched … We all get those.
Jill Dewitt:
It pops in all the things and I’m sure you’re seeing it too, back on market, back on market, back on market. And I go back and I look and I dig into the bottom. I look through to see how long it was on the market before. And a lot of them were contingent. I mean they were in escrow and here they are. They fell through, they’re back on the market. So what does this tell us and what does it tell me? Hold on your hat. It’s really going to be a buyer’s market is what this is going to mean because people are going to be like, there’s going to be so much inventory because they’re coming back. Deals are falling through, people that thought they could afford them and their jobs have changed. Their lives have changed. That’s great for us. So, how do we respond to that? Do you want me to, do you want to jump in at any point here?
Steven Butala:
No.
Jill Dewitt:
Okay.
Steven Butala:
I’m just looking, I’m over looking over your shoulder at your notes.
Jill Dewitt:
Okay.
Steven Butala:
Jill puts little smiley faces and exclamation points.
Jill Dewitt:
I do.
Steven Butala:
In her own notes to herself.
Jill Dewitt:
I do, I underline things. I use caps. I do, here are my notes. What does it say? Deals falling through. Covered TGI Friday’s. Covered tons of back on market. Equals buyers and market. That’s us. And then I put an arrow for us. What do we do? I put in all caps with two underlines. We only buy the best.
Steven Butala:
The world’s falling apart and Jill wakes up happy still. Cracks me up.
Jill Dewitt:
Well because there are deals.
Steven Butala:
Does anything ever get you down in your life, I mean ever?
Jill Dewitt:
Sure, it really revolves around teenagers or traffic.
Steven Butala:
I mean, other than me.
Jill Dewitt:
No, I said teenagers and traffic.
Steven Butala:
Traffic bugs you?
Jill Dewitt:
Sometimes.
Steven Butala:
You handle it pretty well.
Jill Dewitt:
Thank you. I mean it’s not great. I don’t like having to, here’s the thing, one of the great joys when I left Southern California years ago and we moved to Arizona was, wow, I don’t have to budget a minimum of 45 minutes to get everywhere and or find a parking place. I can actually get in my car, drive somewhere, have it take less than 45 minutes and park right near the door. Now we’re back in California and it’s, we’re backed to that. Slash however, right now we’re in the middle of the virus thing. Traffic’s pretty light. So, that part’s good.
Steven Butala:
I just read a little article about air quality. Like the grid worldwide have the best air quality we’ve ever had since …
Jill Dewitt:
Southern California?
Steven Butala:
No, the world. Like Rome, places that are famous for terrible air quality. All of India, it has the best air quality they’ve ever measured since they’ve been measuring air quality. So there is a silver lining.
Jill Dewitt:
Imagine what it would be like if we really tried? Anyway, that’s a whole nother, that’s another show for another, it’s another topic for another show on another channel.
Steven Butala:
With different people.
Jill Dewitt:
Exactly.
Steven Butala:
With different hosts.
Jill Dewitt:
That’s perfect. So I’m already seeing it and it’s so … Those of you who are in our community know it and you believe it and you’re feeling it too. But it’s, and it’s funny because I’m sharing stuff in social media and I put a post out last week where I said, “Hey, here’s just an example of a deal on I’m doing.” And people who are not in our world are like, this can’t be true. And then blow it as four other members saying, here’s what I did and here’s what I did and they’re better than my deals. And I’m like, it’s not nuts.
Steven Butala:
No, it’s real.
Jill Dewitt:
It’s really happening.
Steven Butala:
This isn’t theory.
Jill Dewitt:
Right.
Steven Butala:
The show and this group is not like, hey, let’s see if they can watch our show. Let’s try and get some hits. This is real.
Jill Dewitt:
And they make up numbers.
Steven Butala:
This is real. The ocean behind us, it’s real.
Jill Dewitt:
Yeah, so all I want you to take away from this from me is, hold on, again, hold onto your hat. It’s going to be more of a buyer’s market and that means we can really just pick the best ones. I want you to buy them at the point like I had to buy it. It was so cheap. It’s not even my thing, but I had to buy it because I know what’s possible here and I’m going to have triple my money on it.
Steven Butala:
Here’s some real, here’s some real data and then we’ll move on. And all the sources of this data are from a real stats that I collected, spent a bunch of time on it actually. Collecting stats from both realtor.com and redfin.com because they have the most prevalent MLS statistics out there. And a ton of this data, look, we’re all in the land business, so, “Oh my God, Steve, why are you talking about real estate data? We’re just land. All we care …” Houses and commercial real estate and all of that really dictate what happens with land. And it’s impossible, nearly impossible to get land data because no one cares. You know the reason that you’re Land Academy members is because you get it, we get it. We know that there are tons of money to make on unwanted land. As a percentage, unwanted land is a much higher percentage than houses and buildings, commercial buildings. So that’s a given.
Steven Butala:
So we’re collecting all this real estate data now because it does trickle down to land. So as far as inventory goes, March the March has decreased six plus percent since last year. What does that mean? Less people are listing their houses. Less people are listing stuff for sale. They’re hunkering down. Nationally the inventory decreased by 15% year over year. In larger markets, like Phoenix, big markets, it’s up to 17%. Again, it just means people are not listing their property for sale. Whoever they are, building owners, land owners, house owners.
Steven Butala:
The volume again, I’ll skip that stat. It’s the same thing. Week ending March 28th the volume of newly listed properties, this is the end of March now. So all these stats I just mentioned were just for March. Again, we’re lucky enough to get data from these website sources because they can see it in almost real time. The week ending March 28th, the last week of March, the new list of, newly listed property has decreased 34%. 34%, that’s insane. And we don’t have a full month’s worth of data yet. April, May and June, if it continues to go down 34% each of those times. I mean in approaches like 20 or 30% of the regularly listed volume on the MLS nationally.
Jill Dewitt:
Well I have some questions.
Steven Butala:
This all point to this. It’s going, it’s coming.
Jill Dewitt:
Well I have some questions.
Steven Butala:
And it’s positively coming.
Jill Dewitt:
Okay. You’re, because this goes against my whole thing because I’m seeing things go back on the market. That doesn’t mean that they’re new, but they’re back on the market. I have a theory though. Follow me on this one. I really firmly in my gut, this is not based on numbers.
Steven Butala:
That’s the difference between Jill and I.
Jill Dewitt:
But come on, there’s a lot of people out there right now that would love to sell their house. Especially right now. Don’t you think?
Steven Butala:
I think there’s enough, as a national percentage, there’s a lot of people. Yeah.
Jill Dewitt:
Okay.
Steven Butala:
There’s more people than there was two months ago.
Jill Dewitt:
Okay. Hold on a moment. I honestly think that part of this number and why the numbers are down is because real estate agents are feeling like their hands are tied and they don’t know what to do. You don’t think that’s true?
Steven Butala:
No. I think this is, these are national numbers I’m throwing out. On this … Let me, hold on a second.
Jill Dewitt:
I’m really curious here on what… We’re going to have a little discussion.
Steven Butala:
Nationally, people are saying, you know what? First of all, somebody said on the television, I don’t have to pay my mortgage and I don’t have to pay my rent. I’m not going to move. I’m not going to list my property. So, that’s national. What we’re looking for as Land Academy House Academy members as a tiny, tiny little fraction of 1% of the people when we send the mail out that say, Oh my God, I do want $150,000 check. So, that has nothing to do with this. These are just national trends.
Jill Dewitt:
Okay.
Steven Butala:
It’s not a personal thing.
Jill Dewitt:
I know.
Steven Butala:
These national trends, we can use to our advantage the next time we send mail out.
Jill Dewitt:
Well here’s what I’m going with on this. So I think that what you’re seeing now is going to change obviously this summer.
Steven Butala:
Yeah it’s going to be worse.
Jill Dewitt:
I’m not sure I agree.
Steven Butala:
And I’ll get to that in a second. 34% unemployment, no one’s ever, that’s what we’re approaching.
Jill Dewitt:
I know that.
Steven Butala:
It’s not that they want to sell or don’t want to sell. The house is going to be for sale.
Jill Dewitt:
That’s what I’m saying. Okay.
Steven Butala:
They don’t have any choice.
Jill Dewitt:
Okay. Now we’re on the same page.
Steven Butala:
Are they going to list it? Probably not. They’re probably going to walk away.
Jill Dewitt:
Okay. Now we’re on the same page because it still comes back to, I see a lot of opportunity coming for us.
Steven Butala:
That’s what I think. We agree on that, for sure.
Jill Dewitt:
Well, good. Okay. Well you’re saying …
Steven Butala:
All these statistics are negative, but they’re positive for what we do for a living.
Jill Dewitt:
Okay, well it made me … The way you were going with that, I thought you were saying seller’s market. I’m like, hmm, I’m don’t see seller’s market coming. I see buyer’s market coming. So you’re agreeing.
Steven Butala:
This is in no way a sellers market.
Jill Dewitt:
Thank you.
Steven Butala:
And it won’t be for the rest of the year.
Jill Dewitt:
Because you know why? Because you’re talking about inventory is going down.
Steven Butala:
Yeah. People aren’t listing their property.
Jill Dewitt:
Okay. For now.
Steven Butala:
New listings have declined by 17% year over year in March. 17% of new listings. That’s staggering. 5% or 3% is a massive change. 17% is shattering. It’s industry shattering. The metropolitan areas that saw the biggest declines in inventory or new listings were surprise, surprise, Metro Mesa, Phoenix, Mesa, Scottsdale. New listings in March went down 42%. they were cut in half.
Jill Dewitt:
I believe it.
Steven Butala:
That is just … If you’re … Everybody in our group is some version of a data person, unless you have a data person as a partner, that just stops me in my tracks. 42% of the properties. For Milwaukee, 36% less listings. San Diego, 33% less listings. That gets me thinking. And then Minneapolis, St. Paul, Wisconsin, Minnesota, 3.6% up. So that could be statistics or that could be, who knows why. More people listed, that could be a plant closed or something. We don’t know.
Jill Dewitt:
Right.
Steven Butala:
Sales, nationally, a home sold in 60 days in March. That’s four days better than March of last year. What does that tell you? That tells me people are saying, you know what? I’m going to accept this offer. My house is listed. I’m going to cut my, I wanted $25,000 more. I’m going to take this thing and let’s get out of it.
Jill Dewitt:
Yep. I’m experiencing that with land.
Steven Butala:
All positive. Yeah.
Jill Dewitt:
Definitely with land.
Steven Butala:
That’s a real good stat for all of us to watch.
Jill Dewitt:
Yep. Okay, what would you pay? I just want to get rid of. That’s what I’m experiencing.
Steven Butala:
Prices, something we’re all, live and die by pricing. Median listing price grew by 3.8% March over March of last year. $320,000 bucks for SFRs. In February, it was 3.9. How can that possibly be Steve? On one hand you’re telling me there’s way less this things. On the other hand, you’re telling me prices are going up.
Jill Dewitt:
Know what that is? That’s not, they’re asking more money for their house. That could be more expensive homes are coming on the market. That’s all it is. We’re seeing more $500,000 houses than $100,000 houses. That’s it.
Steven Butala:
You read my mind.
Jill Dewitt:
Thank you.
Steven Butala:
We do agree.
Jill Dewitt:
I do agree. Which again, is another good sign.
Steven Butala:
Listing prices in the largest metro group by 5.7%. Here’s why, and 6% year over year. And here’s why. There are a lot of people beat their chest in these expensive housing markets that are out there and they’re all in metro areas. They’re not, there’s not, very few rural markets that are beat your chest, I’m proud of my house price.
Steven Butala:
Those people are panicking. Those are the people that move every two or three years. They’re not in the real estate business. They make a few hundred thousand dollars. They move, they make a few hundred thousand dollars. Well that’s the definition of a bubble and so all of us that are listening to this and are in this industry are about to buy those houses for half price. Makes me really, really happy.
Jill Dewitt:
I agree.
Steven Butala:
The 45 Metro markets that are still year over year gains in their median list prices, Pittsburgh, 17%. Philly, 14%. Memphis, 12%. and the steepest declines are Dallas, Minneapolis and Houston. And here’s the final statistic and it’s my favorite. In March, this is all of March, 15% of the active listings in this country saw price reduction. If this all doesn’t spell to you, opportunity, this isn’t the group for you. It’s not, then maybe it’s not the time for you. You don’t understand data. I don’t care. If this disgusts you. This is why I bring this up. Jill is going to kick me under the desk right now.
Jill Dewitt:
I don’t do that.
Steven Butala:
Jill and I have been posting a lot of stuff on social media about success stories, buying property. We were going to buy for 20,000 and we reduced it to 5,000 they accepted our offer. Now we’re going to resell it. And so there’s a lot of people that have a lot of negative stuff to say about that. They don’t believe us. We’re going to go to hell. All kinds of things. Here’s the fact. This is an incredible opportunity. Am I saying kick somebody when they’re down? Absolutely not. Have no compassion? No. I have compassion. We have all have compassion. Markets go up and down. If you buy a chunk of stock for half of what it was worth last month, do you think, is it unethical? Do you worry about the shareholders that might have purchased it more than you?
Jill Dewitt:
How they’re financially going to make it now that their stock went down. Wouldn’t that be hilarious?
Steven Butala:
It’s the same thing.
Jill Dewitt:
Well, I can’t, could you imagine? I’m sorry. I can’t possibly buy a Ford at that price because how are you guys going to put food on your table? No, no, no. I need to give you at least this much a share.
Steven Butala:
And I bet you a dollar, 95 percent of the people or some very large number, majority of our group anyway, or the people that are listening have been on the other side of that. I know we have, we’ve had to grossly sell property. Residences, primary residences, during this last downturn had to dump our expensive house in paradise Valley, Arizona. For way less than we had into it. Hundreds and hundreds of thousands of dollars of a loss. So we could go pay cash in a townhouse and wait it out.
Jill Dewitt:
You just move forward. Do what you have to do and move forward.
Steven Butala:
That’s it.
Jill Dewitt:
That’s it.
Steven Butala:
That’s it Jill.
Jill Dewitt:
Thank you. I was going to say one more thing too about the state of this industry because I’m kind of excited about this. This is going to be a really obviously a long show, which is, I’m so curious, this should be another topic I want to dive into, but we’re all getting more and more used to dealing with online with social distancing and not going out of our house. I really think it’s going to make the way we’ve been doing our business since you started this in the nineties more prevalent, more attractive and even easier.
Steven Butala:
Yeah. I mean, work from home, you mean work from home. Is that what you mean?
Jill Dewitt:
Well buying and selling property online. People used to think we’re nuts. Now it’s like, now we’re doing all kinds of things that we never thought we could do, buy and sell online.
Steven Butala:
Yep. Well said. I didn’t think about that.
Jill Dewitt:
Thank you. We should have, that’ll be another show. Happy you could join us today. Every Monday, Wednesday and Friday, you could find this right here on the Land Academy Show. Tuesdays and Thursdays, we are next door on the House Academy Show.
Steven Butala:
Tomorrow the episode on the house Academy show is called how to half your offer price on the phone by Jill. You are not alone in your real estate ambition. Guy calls back, says, yep, that offer you guys sent me two years ago.
Jill Dewitt:
I’ll take it.
Steven Butala:
For $38,000 bucks. Turns out that was a great idea. And I got around to looking at it and thinking about it and I do want to sell my property for $38,000 and Jill says.
Jill Dewitt:
Well, I’ll one up that. I’m going to share it tomorrow. I’m going to one up it there too.
Steven Butala:
We’ll do it tomorrow.
Jill Dewitt:
How about we’re in escrow, about to close. I hate to be that guy, but I didn’t want to do the deal. So we can talk about that too. The Land Academy Show remains commercial-free for you, our loyal listeners. So wherever you’re watching, wherever you are listening, please subscribe and meet us there. We are Steve and Jill.
Steven Butala:
Information.
Jill Dewitt:
And Inspiration.
Steven Butala:
To buy undervalued property.
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