Land Academy Continuing Education Explained (LA 1357)

Land Academy Continuing Education Explained (LA 1357)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Hello.

Steven Jack Butala:
Welcome to The Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.

Jill DeWit:
And I’m Jill DeWit, broadcasting from gorgeous Park City, Utah.

Steven Jack Butala:
Today Jill and I talk about The Land Academy Continuing Education Program Explained.

Jill DeWit:
What? What did you say?

Steven Jack Butala:
We spent six months asking Land Academy members, and just everybody, what more they want. How can they be more successful? We know a substantial number of you are doing great, what can we do better? Do you need to be more educated? Do you need another program? What do you need? They all said, or the vast majority of people said, “We need some form of continuing education in the form of we need to stay motivated.”

Jill DeWit:
Keeping us on track.

Steven Jack Butala:
“We need to know how to utilize the MLS better,” and on and on and on.

Jill DeWit:
Where I should be right now today.

Steven Jack Butala:
Yeah, we need a consistent, long-term module after module. “Hey Steve, you’re always talking about these new ways to look at data. Can we have a class on it? Or can we get together in a small group, ask questions and get your attention. Maybe six or eight of us or 10 of us?” So, Jill and I will talk about that in a second. I can’t wait, because I didn’t realize it, but I’d like to teach.

Jill DeWit:
I know you do.

Steven 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:
And you’re great at it.

Steven Jack Butala:
Thank you, Jill.

Jill DeWit:
Kathy wrote-

Steven Jack Butala:
Jill’s in vacation mode.

Jill DeWit:
I am.

Steven Jack Butala:
She’s happy.

Jill DeWit:
This is fun. Kathy wrote, “Hi. We are considering buying a nine acre property that has a narrow frontage on a curve. Because of the curve, there’s a guardrail.” I hope that’s not right in front of the property, this is interesting. “Not sure how this would be addressed for road access.” That answers my question. “Will the County take down some of the guardrail or would we have to request access from a neighbor? The County office is hard to get ahold of, but wondering if anyone else has had this issue. Thanks, Kathy.”

Steven Jack Butala:
May I?

Jill DeWit:
Go right ahead.

Steven Jack Butala:
What?

Jill DeWit:
I’m sorry. Guardrail, curve, slope. Uh oh, that’s my train of thought there.

Steven Jack Butala:
Jill and I late last year purchased a commercial piece of property in Ohio for 10% of what it was listed. It was listed for a while. It came off the market, we gave them an outrageous offer. It was a [inaudible 00:02:38] deal that came in from another member. They accepted our offer because of life circumstances, it had every single thing you’re talking about. We made $250,000 on it, here’s why. We checked with, and it was a commercial piece of real estate that was zoned for-

Jill DeWit:
Hotel.

Steven Jack Butala:
Hotel. Hotel, motel hospitality. So it had all these things and I had the same exact concerns, almost in this order that you have. We found out through talking to the right people and talking to the person who eventually bought it from us that that’s how they’ve gotten over it in the past. So none of this scares me, none of it.

Jill DeWit:
Can I share?

Steven Jack Butala:
Yeah.

Jill DeWit:
One of the things that we did that was really perfect for you, Kathy, right now, you do want to find out for sure from the County what the end result is. Then call number two and three and four are to three different brokers getting opinions, because that’s what helped us in that transaction too. Once we figured out what was possible, then we had to talk to a couple of brokers and go, “Do you have people for this type of a thing?” We all know now what they need to do while they do it.
We had two guys, if you call three, hopefully two will come in. I don’t know if this is commercial or not, but in the commercial space, good brokers, they’ll type up something and they’ll email it to you in a presentation showing Amazon bought this and who bought this, and traffic counts and why they think that they can justify what they can sell it for. So it really makes you feel good, or it’ll make you feel bad, depending on what they come back with. That’s going to help with the decision.

Steven Jack Butala:
Either way, you need to know. Jill nailed it. Either way, you need to know. You have to get the answers to these questions to the point where you’re satisfied to do the acquisition. One of the things that I look at on every deal is what’s going on on either side of that property or in the immediate area.

Jill DeWit:
Right.

Steven Jack Butala:
If it’s all in a flood zone, but there’s a McDonald’s there in a flood zone and it’s in the same flood zone than you, then they found a way to overcome it. So, there’s stuff that can get you comfortable with doing the deal. If there’s not a structure in sight and there’s guardrail everywhere, just go the other way and don’t do the deal. But I can only tell you what makes me comfortable in situations like this, and guardrail property, especially in a commercial situation, it all has to get regraded anyway to be developed.

Jill DeWit:
Right.

Steven Jack Butala:
So in that grading process, hopefully it’s dry, they’re going to figure out it’s got a guardrail because there’s something happening at the edge of that property.

Jill DeWit:
There’s a drop-off.

Steven Jack Butala:
Yeah, and usually it’s drainage. In some more severe cases, it’s-

Jill DeWit:
Side of a mountain.

Steven Jack Butala:
Yeah. If it’s a side of a mountain, just don’t buy it.

Jill DeWit:
Yeah.

Steven Jack Butala:
If it’s regular drainage issues that the person on either side of you have solved, there’s a good chance you’re going to solve it too.

Jill DeWit:
Correct.

Steven Jack Butala:
There’s always a risk in this, that’s why this is kind of a game. There’s always a risk, so you just need to make sure that it’s within your risk threshold.

Jill DeWit:
You know what the thing is, Kathy? You need to be the pro on this property. You’re going to have to spend some time on it, because some of the best deals I have experienced and seen are when people dug in and got stuff done when everybody else walked.

Steven Jack Butala:
That’s right.

Jill DeWit:
So I don’t want you to walk too soon, don’t spend too much time on it, see what’s possible and make a decision.

Steven Jack Butala:
Today’s topic, Land Academy Continuing Education Explained, this is why you’re listening.

Jill DeWit:
So I just started a blog that I’m going to do in the next couple, I don’t know, week or two, it’s going to be finished. I have all the outline, but I haven’t finished it. The title of my blog is the same as this, and the title is basically after 1,000 or so consulting calls, I guess we need an accountability group. That’s really where we are.

Steven Jack Butala:
What she means is a lot of the same questions come up in these consulting calls, and that tells Jill and I that maybe we haven’t been effectively instructing on these points, because they keep coming up. So-

Jill DeWit:
It’s the same thing that brought up Land Academy, though, that’s the same reason. We were overwhelmed with questions about how we run our business, so that’s where Land Academy came from. Now we’re overwhelmed with this, and that’s where this is going to lead to.

Steven Jack Butala:
So imagine a situation where, probably it’ll end up being … I don’t exactly how we’re going to roll it out, but it’ll be once or twice a week or something like that where people can sign up on a sheet or on a website. I’ll announce, or Jill will announce, or staff will say we’re holding a session or an accountability scenario on Tuesday at 4:00. It’s first come first serve, first 10 people are welcome, and however that unfolds. Then the topics. As we develop our way through this, people can start to request topics. So due diligence has always been a big one, so we’ll go through that.

Jill DeWit:
Picking a County.

Steven Jack Butala:
We’ve been doing this on Thursday at 3:00 for years and years and years, and it became consumed with would you do this deal? Which is good, it’s fun for us to do. People give us their deals, they have them come in, they ask our opinions. Sometimes we pull other people from the advanced group in. So it’s a much more organized version of that, but without the deals.
Like let’s all pick a County together. So 10 people come, I hold the session, they’ve got a County of five or six counties that they think are a good idea. I put my two cents in and provide new ways, new technological ways, because how I pick a County is always changing, but how I picked a County when we did all the education programs is still stuck in that moment of time. So all these things need to be updated and participation’s good, and I’m looking forward to it.

Jill DeWit:
I see it too as it’s going to be an addition to. It won’t replace, and we won’t take away our weekly Thursday member calls. That’s such a valuable resource for people to get quick questions right now about anything. Bring it, I don’t care what it is. So this will be more focus groups, and like you had alluded to, I see it as where you should be in the process. You’re one month in, you should have this done. If you’re not, we’re going to get you there. What’s holding you up and we’ll get you there, and so on and so on and so on.

Steven Jack Butala:
We have people in our group that hold consulting calls with us, that they’ve been our group for two and a half years, they finally got their first mailer out. They’re having some success with it, now they have a bottleneck and they don’t know what to do. It’s all about addressing each individual person’s bottleneck. When I started out, I was deathly afraid of doing deeds. I don’t know why, I just was. It would have been great to have this kind of group where I could log in and hear from somebody who’s done a lot of deeds that there’s really nothing to be afraid of.

Jill DeWit:
You know what’s so great about that? You make a mistake, so what? They send it back, you fix it, you send it back again.

Steven Jack Butala:
And that’s it.

Jill DeWit:
That’s it.

Steven Jack Butala:
It’s just like having children.

Jill DeWit:
But people don’t know that, that’s a really good example, Steven. People don’t know that. You’re right, and there are other people that have little hangups like that, they need to hear it, know it, feel it, see examples. Small intimate groups, I’m pretty excited.

Steven Jack Butala:
Me too.

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

Steven Jack Butala:
Tomorrow, the episode on The Land Academy Show is called the real estate data dashboard for land investment. You are not alone in your real estate ambition.

Jill DeWit:
I can’t wait for you to explain what that is and what you’re working on, and what’s coming.

Steven Jack Butala:
We live in the greatest information age of all time ever in the history of the planet, and why shouldn’t that translate to buying and selling real estate? Picture a dashboard that you could create for yourself buying and selling stock, there’s such a tremendous amount of data that you can access buying and selling stock. I’ve never met anyone who buys and sells stocks that looks at a balance sheet. I personally look at a balance sheet on every single thing that we analyze.
So there’s stuff that matters to me and stuff that doesn’t matter to other people, but all the information’s available. On Amazon Stock, you can get just about anything you can possibly imagine. It’s getting like that with real estate. When you send out a mailer and you have 22 deals that come back, you should be able to look all this stuff up and say, “Yeah, I’m going to do this deal pretty quickly.” To take it a step further, this is kind of the show.

Jill DeWit:
I was going to say, I can’t wait to hear about that tomorrow. I can’t wait to hear about that tomorrow and I can’t wait to hear from you. So please like, comment, share, subscribe, everything on our YouTube channel. We appreciate that. We are Steve and Jill.

Steven Jack Butala:
We are Steve and Jill. Information.

Jill DeWit:
And inspiration.

Steven 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://ownersdata.com

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