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Planning Your Land Business for Post Election (LA 1338)

Planning Your Land Business for Post Election (LA 1338)

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Planning Your Land Business for Post Election (LA 1338)

Transcript:

Jack Butala:
Steve and Jill here.

Jill DeWit:
Hi.

Jack Butala:
Welcome to the Land Academy Show Entertaining Land Investment Talk. I’m Steven Jack Butala.

Jill DeWit:
And I’m Jill DeWit, podcasting from sunny Southern California.

Jack Butala:
Today Jill and I talk about planning your land business for the post election in November.

Jill DeWit:
I want to talk about what we’re doing in preparation for that and what you should be doing in preparation for that.

Jack Butala:
Right. Excellent.

Jill DeWit:
And I’ll tell you my answer is really short.

Jack Butala:
Good. Yeah actually, mine is too.

Jill DeWit:
Okay.

Jack 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 DeWit:
Brian wrote: In California I have a vacant land buyer who just finished paying off the seller financing and now I want to make sure I get the next step right. A land contract was recorded with the county at the start of the sale, and now as I understand I need to record a deed of reconveyance or a full reconveyance. I believe also the grant deed needs to be recorded and the preliminary transfer of ownership with the county. Is that right? All at once or is it in some sequence? Anything else?

Jack Butala:
So there’s a lot of words in this question, and they’re very specific proper nouns, like conveyance, reconveyance, granteed, preliminary transfer of ownership to the county.
So the answer to Brian’s question really lies in why he set it up in the first place. I’ve never seen it set up like this. I’ve never actually recorded a land contract with the county, so I would start with that. I’m not saying-

Jill DeWit:
Or have we had people pay them off?

Jack Butala:
I’m not saying he’s did it wrong, I’m just saying. Yeah. I mean, this is so far as a percentage in the minority of deals that happen. I mean-

Jill DeWit:
How long was this contract, because often they’re a long time?

Jack Butala:
In all the years that we’ve had Land Investors, which is the website, no one’s ever asked this question. And here’s why, because people don’t pay these things off. If they do, it’s way early. So the right answer, and then there’s a lot of answers to this from other members, the right answer is to get a lawyer to either do, redo, or undo this. I know what I would do. I would not get a lawyer. Jill and I would sit down and I would say, “The guy paid it off. I recorded the land contract. I would somehow undo that.” I’m not exactly sure. And I would probably send this to title so he can get …
Here’s the thing. If Brian did this correctly, he’s made just tons of money on this deal. When you sell property on terms and it gets paid off over a bunch of years, the interest in all of it, I mean, it’s very, very, very profitable, so there’s a lot of profit in this deal. You want to get it done right.

Jill DeWit:
Correct.

Jack Butala:
And the chances are the person who paid this thing off, they’re going to use it. They might build on it. Who knows? So I would … You know what? Call a lawyer.

Jill DeWit:
That’s the easiest way. Let’s just leave it at that. I know that someone else in our group who is very experienced and very smart also chimed in and said, “Make it easy on yourself, call a lawyer.” And I agree with her.

Jack Butala:
Today’s topic, planning your land business for this election that’s about to happen here in November.

Jill DeWit:
Oh yeah. I have a followup thing to that real quick.

Jack Butala:
This is the meat of the show.

Jill DeWit:
Sorry. My followup thing is once you have one of these done with a lawyer and you know the steps what the lawyer did, now you can do it by yourself.

Jack Butala:
Yeah.

Jill DeWit:
So that’s it. Lawyer’s going to go, “We’re doing this form and then we’re doing this form and then we’re doing this.” Okay, now I know the steps. I don’t have to use you again.

Jack Butala:
You know, if you’re new at this you’re going to make missteps from a paperwork standpoint. It shouldn’t stop you from sending mail out or any of that stuff. All this stuff is undoable and almost all of it, the recorder’s going to say … When I started in this, I did my own deeds. This is in the ’90s. Did my own deeds, did a few of them wrong. The recorder was nice enough to call me and say, “All you’ve got to do is do a corrective deed. Go to our website. It tells you how to do it.” And I did it and it was over. Did it suck? Yeah. The paperwork part of anything is awful. This is just stuff that needs to get done. So don’t let it deter you from being a real estate investor.

Jill DeWit:
Yep. Perfect.

Jack Butala:
Today’s topic. Oh, you already went through that.

Jill DeWit:
So planning your land business for post selection.

Jack Butala:
I got interrupted.

Jill DeWit:
I did, because I had a follow-up thing. I was trying to get in there just in time, and I didn’t mean to screw up your train of thought.
So here’s what I think. What are we doing right now to plan for post election? I’m doing two things, and they’re very simple and very basic. You’re going to laugh. One is I’m watching, micro watching, parts of this country and the market and the real estate. And what am I really watching? Not so much land, I’m watching houses. Because land, because you have taught me, usually follows the houses. Although it might be six months, even a year behind-

Jack Butala:
That’s true.

Jill DeWit:
But it’ll happen. So if you see drops, it will follow. So I’m micro watching, part for personal reasons and part for business reasons. I’ve got some cash I want to put into a future primary residence candidate. That’s the truth. Or maybe not primary, but even a secondary home. Something like that. So I’m watching for those reasons, and then also for my land business.
And then the second thing that we are doing is … Okay man, now I got three steps. As I go into this I got three things. So that’s one, I’m watching the market.
Second thing that I’m doing is making sure all of my acquisitions are killer. They need to be stellar. I need to be able to buy them fast, sell them fast. I do not want to be stuck holding a bunch of stuff at a price that doesn’t work for me. So I have to buy them really, really good so I can sell them really, really good, and really fast.
The third thing that we’re doing is holding on to some cash, and that’s the thing with a lot of investors too. There’s a lot of investors right now that are getting their cash ready to be able to pull the trigger on a bunch of opportunities that we all see coming.

Jack Butala:
What historically happens after elections, regardless of who wins, this has nothing to do with who wins or loses this election, is good stuff. But when the election is over, everybody who’s in business and controls stuff takes a big, huge breath. They’re either happy about who won or you’re not, and you go about making them money.
I did a lot of research on this actually, and I came to the conclusion that nothing’s going to happen. Nothing’s going to change. There’s a huge, detailed economics driven article that came out a couple of days ago that says, what does Fannie Mae or Freddie Mac look like under candidate X and candidate Y? And it was like nothing. Nothing’s going to change. You think interest rates are going to change based on … This topic heats up a lot of people, and so I apologize in advance if I’m raising your blood pressure by having this topic, because generally Jill and I don’t talk about politics ever, and I don’t really think we are right now.

Jill DeWit:
Right.

Jack Butala:
I don’t care about this. I don’t care. I have personal feelings, but from a money standpoint I just want this crap to end however it ends, and let’s just move on.

Jill DeWit:
Well, here’s my reasoning what’s different this election, I think how I see, because it’s tied into COVID stuff.

Jack Butala:
Yeah. Okay, well that’s not what we’re talking about.

Jill DeWit:
That’s what I’m talking about. Okay, yeah. So I’m talking about this election, not every election. Every election, I’m not so concerned. I’m talking this election, because I think that there’s going to be some potential COVID slash … I think everybody’s waiting for this to be over before they do things like the whole foreclosure thing and the whole forbearance and what’s going to happen when everybody’s rent is due, that kind of a thing. There’s a lot of stuff I think that are on hold tied to this waiting for November to happen.

Jack Butala:
Yeah. I mean, this is a weirdest thing I’ve ever seen, because some of it’s COVID, some of it’s the election.

Jill DeWit:
Correct.

Jack Butala:
There’s a lot of strange, strange socioeconomic current event type stuff, and it’s like there’s a lot of stuff being thrown at a blame to being assigned and all of that. My point to this whole episode is nothing’s going to change. You just keep your head down, buy a bunch of land, resell it. Jill’s right. I think now maybe it’s probably … She’s probably right. Keep more cash on hand than you might usually, but I wouldn’t say sell everything and then just pray in November.

Jill DeWit:
Right. Yeah, don’t do that.

Jack Butala:
Pray for whatever side you’re rooting for.

Jill DeWit:
That’s true. It’s not like come November or whatever all of a sudden prices are going to dramatically increase or drop or anything like that. No. No, but I think that it’s just, for me honestly, it’s timing. I think COVID stuff and the election stuff, there’s a lot that’s going to happen between now and the end of the year. That’s really what I’m saying.

Jack Butala:
We are all tiny little drops in a massive ocean of people who profit from all kinds of things, and the people who profit from stuff aren’t going to let the bottom fall out of this.

Jill DeWit:
Right.

Jack Butala:
I don’t care who wins the election, doesn’t win the election. I don’t care if it’s rigged. I don’t care about any of that stuff. I think we can all agree with very few exceptions that we all want to do better next year than we did this year, whether it’s socially or financially. I think hopefully we all agree, we’re all going to keep buying and selling land or whatever it is that we make money on.

Jill DeWit:
Touché. That was good. I have something funny to show you [crosstalk 00:10:24].

Jack Butala:
Yes I do, for sure.

Jill DeWit:
Speaking of this and this whole period, and how we all want it to be over with. Someone put a cute little thing on social media. It says, remember when your mom said, “I’m going to hit you so hard, I’m going to slap you into next year.” I wonder if that offer is still open?
I was like, that’s so good. Yeah. I do want to go to bed and wake up and be in 2021.

Jack Butala:
Never has child abuse had some humor with it.

Jill DeWit:
Right. Exactly. Exactly. Happy you could join us today. Five days a week you can find us here on the Land Academy Show.

Jack Butala:
Next week join us for another interesting episode on Monday. You are not alone in your real estate ambition.
I can’t wait for this to be over.

Jill DeWit:
I know.

Jack Butala:
It’s the silliness of it now.

Jill DeWit:
I know. It’s funny, even the kids are kind of over it. I know in March they’re like, “Ooh, yippee ki yay. Now it’s summer vacation starting in March.” And now it’s like, “Okay, now we’re over it too.” And our school, I’m very happy that they have really upped their game this fall. They admitted their mistakes at the end of last year, and they really upped their game this year, and it’s hard on everyone, including the teachers, that they want to be in the classroom I think.

Jack Butala:
This is a terrible, terrible medical scenario for people who have preexisting conditions. It’s terrible, and my heart goes out to those people regardless of age or any of that. It’s terrible. But I’ll tell you, I just happened to be flipping through the channels last week and the Prime Minister of England was, as all these politicians are doing right now, reporting the numbers and the things that they’re doing and he said this, “I have long said and will continue to say,” because he was talking about school. The schools are open in England. “Long said that it is my policy and the policy of our whole administration that education, the longterm effects of not educating children, even for six months or a year or whatever this thing ends up being, negative implications of lack of education far outweigh the immediate medical concern.”
That’s really been my take on this from the beginning. The only thing that separates us from animals is education. We need to be educated. That’s why people hopefully listen to the show. Jill and I have channeled out the latter parts of our lives and our careers trying to educate people.

Jill DeWit:
That’s true.

Jack Butala:
Fortunately for us and for you, you do this at home.

Jill DeWit:
Exactly. I agree. Thank you for tuning in. We hope you find our content valuable and we appreciate your support. If you haven’t already, please zip over to our YouTube channel and hit the subscribe button.

Jack Butala:
And your comments and suggestions help us create the type of content you’re here for. Hitting the like button on your favorite episodes helps to support our channel’s algorithm and gage your interest for future shows.
We are Steve and Jill.

Jill DeWit:
We are Steve and Jill.

Jack Butala:
Information-

Jill DeWit:
And inspiration-

Jack Butala:
To buy undervalued property.

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If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

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https://landacademy.com

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https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

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