How Land Academy Deal Funding Works (LA 1380)

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How Land Academy Deal Funding Works (LA 1380)

How Land Academy Deal Funding Works (LA 1380)

Transcript:

Steve:
Steve and Jill here.

Jill:
Hallo.

Steve:
Welcome to the Land Academy Show, entertaining land investment talk.

Jill:
And I’m Jill. And I am broadcasting from Sunny Southern California.

Steve:
I’m actually in Sunny Central Scottsdale, Arizona. Today Jill and I talk about how Land Academy Deal Funding works. We get these show topics from our customer service, Volume. And so these are many. Many people were asking about this last week, so we decided to do yet another show on how Deal Funding works. But 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:
Thomas wrote, I’ve got a couple of thousand mailers out and looking for my first deal. An investor friend of mine who flips houses recommended Blueprint Title. They are an online title company. I called them and they said the only thing they cannot do with land transactions is the new deed and its recording. Isn’t that the only thing we really kinda need, but we won’t go there.

Steve:
I put this in here for you.

Jill:
This is hilarious.

Steve:
Just when you think it can’t get any worse, they say, “Oh no, we can’t do the deed.” Why would they do that?

Jill:
I’m gonna start a company like this, it’s hilarious. [inaudible 00:01:23] can handle is you give me a check and I’ll make sure it gets to them. And then everything else you got to do.

Steve:
Which is Escrow, that’s the definition of Escrow. It’s not-

Jill:
What the heck?

Steve:
It’s classic. I would run away from this. Go ahead.

Jill:
This is so funny. This made me ask the question. If I close a deal through a conventional title company, like First American, do they take care of the new deed and then the recording? Thanks. Oh yes, heck they do. Oh my goodness. Okay, let’s back up right now, everyone. First of all, every real title slash Escrow, it’s the same thing, Escrow company out there is online. I’m gonna just say it right now. Everything you can do with a phone call and submitting documents with DocuSign, except for the majority of the states that wanna wet signature on a deed, okay. We got that. So how do you get around that? No big deal, it’s called a mobile notary. And they come to your house, they come to your office. If you’re the person who’s buying it, they’ll come to your house, [inaudible 00:02:38] office, whatever they prefer, know that’s very, very easy and that’s it.
So nobody has to walk into a title company and do all that anymore, it’d be right there. This whole notion of not doing, I can’t believe they even call themselves a title company when they say, “I’ll take care of the money, but am not gonna put the deed in the recording.” For a renter, that’s why you’re paying them to do the deed. I mean, maybe they’re just saying… maybe they’re doing money and title policy, but man, that’s only getting me 50% of the way there. I need the other 50%. So I don’t know who that is, but I would pick up the phone and call somebody else. And then, don’t even have to go with a biggie, Thomas. Don’t think that you have to, that it’s only a first American or something like that can do a big close like that.
There’s a lot of great mom and pop title companies. I would argue they’re even better, ’cause I would argue they care more. That can do the whole thing for you. And what I do is an attorney too by the way. There’s a lot of attorneys out there that can do every title, that can do it cheaper and faster. So call around. I have two questions for title people, and this is what I do. How fast can we do it? How much do you cost? And I’m looking for an investor rate, because if this works out between the two of us, as you talking to them, Thomas, you’re gonna do ten more maybe this month or this year, ’cause you just blasted that area to try and find someone with a good relationship. And you wanna tell them that.

Steve:
This is like taking your [inaudible 00:04:24] oil changed and having the person you set the appointment and the person on the phone says, “I’m happy to change your oil. I need you to bring all the tools. I need you to bring the oil filter. And then all I’m gonna do is unplug the… I’m gonna put it up on the rack, unplug it for you, and then you need to finish it.” No one would ever do that. You would call another oil place. ‘Cause you’re supposed to be reading a magazine or your phone or something while this is happening, which is the same thing with title. We’re supposed to… the reason you pay all this money for title is to do all the work. I don’t wanna do any work if I’m gonna call title, the deal should pay for itself.

Jill:
Exactly.

Steve:
Runaway from this Thomas. Today’s topic, how Land-

Jill:
That’s the funniest thing, I still think that’s so comical. I kind of want to call myself to go, just to laugh and go, this can’t be real.

Steve:
Today’s topic, how Land Academy Deal Funding works. This is why you’re listening. How does Land Academy Deal Funding work? Jill?

Jill:
Okay, here is the scope. We have forever as investors had, if you’re good, you run out of money. If you’re doing it right just like us back in the day, you have an acquisition limit and you’re running out of money and you’ve got more deals than you can take down. Yay, great problem to have. So what do you do? Now you need someone to help you and fund the deal for you. So we at Land Academy have created our own thing that’s been, gosh, going on two years. Has it been? Yeah, it’s been two years now I think, definitely, since we’ve been doing Land Academy Deal Funding. So if you go on our website, go to landinvestors.com, you will find at the top a menu item for our deal funding and it’s for houses or land, by the way.
And the reason we do this is we firmly believe no good deal should go to waste. If it’s that good and your only issue is money, like Holy cow guys, we gotta do this deal I’m out of cash, this is what you do. So you go in there, you fill it out, you’re submitting everything about the deal. And I want you to have the deal all the way down to the signed purchase agreement. You’re about to open Escrow, maybe you even did open Escrow. That’s even better ’cause you know you’re gonna do it. All you’re doing right now is finding the money person. So that even makes me happier. And you’re now finding someone to help you.
I will fund up to and including 100% of the deal. So if you’ve got some money, you just need me to finish it, you need me to split it, whatever the rate is, I will do that. And again, up to and including 100%, I’ll do the whole thing. Then the main thing is, it’s your deal. You sourced it, you know the area, you know what you’re doing am just the bank. So you’re gonna be the one getting the photos, taking the pictures, marketing the property and getting it sold. So at the end, do you have any questions or you want me to just keep ongoing here? Okay.

Steve:
I would love to ask you some questions.

Jill:
Oh, go for it.

Steve:
With a top three issues. I mean, I watch this, I’m not involved in it. Jill runs some of the companies, I run some of the companies. This is not one that I run. I am shocked and amazed at how few people submit transactions for deal funding. Are you?

Jill:
I am. I’m a little-

Steve:
All right. So here’s my next question. Name the top three issues that you come up with when properties are submitted to you for funding.

Jill:
Number one, they don’t have a signed purchase agreement, so there’s no real deal. Number two, there’s a fatal flaw that they didn’t find and that I find. And then number three, which is pretty much the biggest one that comes up the most is, they’re paying too much for the asset.

Steve:
Yeah.

Jill:
They’re coming in too high. And sometimes I think that… I hope I didn’t scare anybody and have them going the other direction right now like they’re afraid to submit deals because of this. But in the beginning, people would I think submit deals to me and use me as a sounding board. And if I liked it then they’d proceed, I’m like, “Wait a minute, don’t give me everything and let me pick the good ones for you. I need you to be that good and submit it to me when it’s already past, has already passed all your tests and you would be calling your brother-in-law for the money right now. But instead you’re calling me. That’s it. That’s the only… that’s how I want you to think of it.” And they, [inaudible 00:09:04] go.

Steve:
Top three last deals that you’ve done that you love, characteristics wise, price wise. You can leave out location.

Jill:
Okay. One was with a not so experienced person with a smoking deal and it didn’t start out as a smoking deal. But I went back to that person, I said, ” I hate it at this price, but I love it at this price, if you can get it.” And they did.

Steve:
Give us the numbers, please.

Jill:
It went from buy for 20,000 to buy for 5,000. And then we sold it for 60,000 with a broker.

Steve:
Excellent.

Jill:
And so it was very easy for him and for me. Second one was a very experienced couple who have done a lot of deals in this area on the East coast that did so well with a few of these that they don’t call me anymore ’cause they don’t need me anymore.

Steve:
That’s what we want by the way.

Jill:
Well, a little too well. So there’s that. And then-

Steve:
Same kind of numbers just as the first one?

Jill:
Trying to think. I think it was, it was though, I think it was more of a buy for 20,000, sell for 60 or so. So it wasn’t that the buyer for five and sell for 60 is nutty. I mean, I didn’t think he’d get that number. I was cracking up at that one. I’m like, okay, we have to buy this. So the second one, they just knew what they’re doing. You know what it was? The second one was so they… it was great for me because there was no agent involved. We each made more money on the deal. It was very fast. They did everything right because they… this couple, it was a well-oiled machine.

Steve:
Yeah. I know what you’re talking about. If you are listening to this, I would love to do more deals with you guys.

Jill:
Yeah. Please call us, okay. They’re adorable. Then we’ve had them on the show. Then the third, my third favorite, I hope it’s my third favorite. It’s one that we’re doing right now, which it’s [inaudible 00:11:38] I’m used to and because of the dollar amount, I mean, we’re selling it for over a million dollars. So, that already you’re signing up to have the deal take a little more time. You have to know that going into and be okay with it and not need that money for a little bit of time. You’re not gonna double it tomorrow. You’re gonna double it in probably hopefully three months. That would be really great. And it has been like a month now on this deal I think. That’s about right. I think it’s been a month, maybe less.

Steve:
What’s your perfect deal?

Jill:
My perfect deal.

Steve:
Yeah, like [inaudible 00:12:20] the stops.

Jill:
Okay. I don’t care who you are or your experience level, but you know the area and you know what to do. You don’t need a lot of handholding. You know how to Market, you know how to get good pictures, you’ve watched everything that we talk about, you know how to write a good description, you don’t need me, you just need money. It’s somewhere in the purchase price of 10 to $30,000, let’s say, ’cause it’s worth triple that period. And perfect deal is buy for 30 sell for 90, ’cause it’s worth 110, something like that. That’s my perfect deal.

Steve:
Excellent. I think that really… I think that covers deal funding.

Jill:
So, yeah. And then as far as the payout in the end, by the way, it’s not necessarily 50-50. So if you… it depends on who’s doing the work. If you’re sitting back and I’m doing all the work, we’re gonna talk about that. It’s not gonna be a 50-50 thing if I did all of the money and I do all of the work kinda thing.

Steve:
Here’s what I will do. If I were new at this, here’s how I would use Deal Funding. I would forget about the mechanics of doing a real estate deal and forget about money. I would concentrate on, and maybe that’s maybe this is why I’m on this side of the business and you’re on the other side. I would figure out how to do mail, figure out data, figure out pricing, figure out how to mechanize bringing deals in from a phone standpoint and a phone answering thing. And that’s it. And I would send them to you. I would take for every 10 deals that I think are pretty good, I would take the best one and send it to you.
And even if let’s say, ’cause it doesn’t cost me anything, so let’s say you say something like “I’m gonna make 75 in this and I’m gonna fund it 100%. I’m gonna make 75% of the margin, you’re gonna make 25%. Please let me know when you’re gonna submit the next transaction.” And then I would just be machine, because it doesn’t cost anything. It doesn’t cost anything to do that with the exception of the education costs and the mailer costs, which is crazy cheap if you’re gonna get 25% back in 90 days every time I submit a property.

Jill:
Because I’m selling the deal for you?

Steve:
Yeah.

Jill:
Okay. Well, let me throw this out to you too ’cause I wanna make sure everybody knows this. There’s a lot of people that listen to this show. Way more people listen to the show than we have Land Academy members. That’s a fact. You do not have to be a Land Academy member to do this.

Steve:
A hundreds of thousands more.

Jill:
Uh-huh (affirmative).

Steve:
A hundred thousand.

Jill:
So, I’m telling you right now, if you’re in an another community, you know who you are and you were here soaking up all this free information. I’m so happy that you are and happy to help. I can happily fund your deals too, ’cause it’s good. If it’s a good deal, I don’t care where you came from or how you found it, I’m happy to help, ’cause we both win.

Steve:
We can stop right there, Jill, go.

Jill:
Okay.

Steve:
What’s that?

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

Steve:
Hey, we’re happy you can join us today. Five days a week, you can find us here on the Land Academy Show. Tomorrow, the episode on the Land Academy Show is called Self Close versus Escrow Close. You are not alone in your real estate ambition. And your comments and suggestions help us to create the type of content you’re here for. Hitting a like button helps to support our channels algorithm and gauge your interest for your future shows.

Jill:
Thank you for saving me.

Steve:
Oh, yeah. No, its all right.

Jill:
I’m just [crosstalk 00:16:13] it’s different when we’re in different room apparently. We get all kinda of like, when we’re in different States actually. We don’t have-

Steve:
Atually I’m impressed that we’re pulling this off at all. And maybe we’re not, maybe we just lost half of our listeners.

Jill:
That could be. Ready? Three, two, one, Steve and Jill.

Steve:
We are Steve and Jill. Information-

Jill:
And inspiration

Steve:
To buy undervalued property.

—————————————-

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

The BuWit Family of Companies include:

https://BuWit.com

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https://landacademy.com

https://landpin.com

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https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

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No need to hire staff - we did it for you.

Land Academy PRO is the brainchild of founders Steven Jack Butala and Jill DeWit. Designed at the request of Land Academy members who are ready for a higher level, we’re excited to continue to provide the tools and support needed by professional investors.

Each level comes with a preset amount of included data, Concierge Mail service, and postage. For example, the Green level includes 6,000 units of completed-for-you mail completely out the door at no extra cost to you.

All levels include a PatLive introduction and preset script (we will set up your phone answering for you), use of Land Academy’s personal Transaction Team to manage your deal flow, an AirTable (CRM) base setup managed by our (and your!) Transaction Coordinator, personal consulting, regular office hours, and includes your Land Academy subscription cost.

If you’re making this a business, Land Academy PRO takes the work off of your plate so you can focus on the things that matter – like running your business.

Green

$10,060

per Month

Silver

$14,590

per Month

Gold

$19,120

per Month

Platinum

$23,650

per Month

Black

$28,180

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
6,000 mailers 9,000 mailers 12,000 mailers 15,000 mailers 18,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value $500 value $500 value $500 value $500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value $7,500 value $7,500 value $7,500 value $7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value $100 value $100 value $100 value $100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
- - $1,000 value $1,000 value $1,000 value
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value $2,500 value $2,500 value $2,500 value $2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value $150 value $150 value $150 value $150 value
FREE Career Path Access
$23,000 value $23,000 value $23,000 value $23,000 value $23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value $300 value $300 value $300 value $300 value
Subtotal: $8,550 value $8,550 value $9,550 value $12,050 value $12,050 value
Mail Value: $7,500 value $11,250 value $15,000 value $18,750 value $22,500 value
Total Value: $39,050 $42,800 $47,550 $53,800 $57,550
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Green

$10,060

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
6,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
-
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value
FREE Career Path Access
$23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value
Subtotal: $8,550 value
Mail Value: $7,500 value
Total Value: $39,050
Apply Now

Silver

$14,590

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
9,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
-
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value
FREE Career Path Access
$23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value
Subtotal: $8,550 value
Mail Value: $11,250 value
Total Value: $42,800
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Gold

$19,120

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
12,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
$1,000 value
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value
FREE Career Path Access
$23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value
Subtotal: $9,550 value
Mail Value: $15,000 value
Total Value: $47,550
Apply Now

Platinum

$23,650

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
15,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
$1,000 value
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value
FREE Career Path Access
$23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value
Subtotal: $12,050 value
Mail Value: $18,750 value
Total Value: $53,800
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Black

$28,180

per Month

Concierge Data+ (with data) Included mailers each month (data + concierge + mailer + postage). Our team will do your data for it and get it out the door.
18,000 mailers
PatLive introduction at no cost We will help you establish your first script and get PatLive set up on your behalf to answer your phones.
$500 value
Transaction Coordinator Use of our personal Transaction Coordinator team to manage your deals. Trained and ready to go!
$7,500 value
AirTable Ready-for-you CRM managed by your personal Land Academy Pro Transaction Coordinator
$100 value
Personal Consulting 1 on 1 personal consulting with our Transaction Coordinator each week.
$1,000 value
Regular Office Hours Regular office hours with Jack and Jill + our staff. Private for LA Pro Members Only. (Think Career Path Office Hours)
$2,500 value
ParcelFact ParcelFact is included in your LA Pro membership with unlimited pulls.
$150 value
FREE Career Path Access
$23,000 value
Land Academy No more separate charges - Land Academy is included with LA Pro Membership. This includes all education, tools, support, and future releases.
$300 value
Subtotal: $12,050 value
Mail Value: $22,500 value
Total Value: $57,550
Apply Now

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