Jill Friday – Where Do I Start in Real Estate Land Investing (LA 1503)
Jill Friday – Where Do I Start in Real Estate Land Investing (LA 1503)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Good day.
Steven Butala:
Welcome to the Land Academy Show. Entertaining land investment talk. I’m Steven Jack Butala.
Jill DeWit:
And I’m Jill Dewitt broadcasting from sweet Scottsdale, Arizona.
Steven Butala:
Today is Jill Friday. And, we talk about where do I start in real estate land investing? Jill’s going to enlighten us, I’m sure of it.
Jill DeWit:
I got this. It’s not hard. Well, there’s a lot to it, but the steps to get started are easy. I will help you and I will lay them out.
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 DeWit:
By the way, in case you hadn’t heard earlier this week, oh boy. Have we revamped and reworked, and you’re going to see some changes physically, not physically, but on the website, physically. And, then in the way we run things with Land Academy Deal funding. We are partnering up and have partnered up with some heavy hitters and you really have no reason to not ask for money. We not going to make it super easy for you. We have so much capital behind us and decades of experience, as you already know. And we’re here to help you get those deals done. So, don’t wait, go to land investors.com. Click on deal funding, submit your deal. And, we will tell you what to do next.
Steven Butala:
You got a couple of deals you’re not sure about? Submit them. We’ll tell you whether or not we’ll happily fund them. We’ll tell you if they’re good deals or not.
Jill DeWit:
Aaron wrote, “I caught a bunch of RV parks, lots in my data. The county has them at 0.9 acres, but they’re probably 0.09. They do seem to sell for 10 to $20,000. Probably have rules like an HOA, anyone mail RV parks, or is it a waste of 50 cents?”
Steven Butala:
These types of properties, RV properties are what I call specialty real estate. I put them in the category of mobile home lots, mobile home park lots. Property that is zoned for a hotel, maybe any type of special use property. Zone for a cemetery. You’ll find them a lot in urban areas where a city planner has gone through it there and said, “This is where we kind of want all the industrial areas to be. This is where you want the high end houses to be. The low end houses to be and, and on and on and on.” That’s what a civil engineer or city planner does.
Steven Butala:
I absolutely love these kinds of lots. They sing to the right person. They’re usually… How many times if be driven down the street and seen a defunct trailer park? That’s just waiting for somebody like us or you who’s got some skill and some energy to go in there, put a sign up, put a shack up there and say, “Look, bring your mobile home.” Or “We’ll put a mobile home on here for the right person.” So, I love specialization property like this, as long as it’s super cheap. And, if you know anything about internet marketing, the more specialized, whatever you’re selling is, the easier it is to find people in a specifically in that geography and that zip code with Instagram or Facebook. So, it pops right up while they’re going through whatever.
Jill DeWit:
Ding ding.
Steven Butala:
So, hell yes. And you need a partner in this? Please call me. It’s one of my favorite types of real estate.
Jill DeWit:
Thank you for playing Aaron. I have nothing to add.
Steven Butala:
Today’s topic is well, it’s Jill Fridays. She’s going to tell us about where do I start in real estate land investing? This is the meat of the show.
Jill DeWit:
Okay. You stumbled across the show. You ran into somebody in Land Academy you’re like, “Wait a minute. What the heck are you all talking about? How are you all making this money? Doing this stuff? What do you mean land? Okay. I want to do this. I really want to jump in.”
Jill DeWit:
Let’s hold on just a moment.
Steven Butala:
Good. Good Jill, thank you.
Jill DeWit:
It’s not like, “Sure, yeah, bring it. Okay. Yeah. How much money do you have? Bring it?”
Jill DeWit:
No, no, no, no, no. This is part… By the way I was thinking about this. We throw around these numbers about the number of people that have left their jobs and how successful people are doing. I need to back up and say part of the reason why is, we’re very transparent and we try to be, that’s what this whole show’s about too. Want you to know what you’re getting into and we’ve done a pretty darn good job of keeping this community with not… We don’t have thousands of people just, “Yeah, whatever. I’m just trying to test this now.”
Jill DeWit:
Uh-uh (negative). That’s not what this is for. We want you to do… And this is what the show is for too. This show is for, and what this… I mean, this episode today is for, you need to be the right person. You have to have all this stuff figured out and all these steps taken. I don’t want you to come in this, “Hey, I’m just going to show up to see if I like the class and if I do, I’m just going to… I have 10 days until I dropped the class or I have to stay in, finish the class, whatever it is.”
Jill DeWit:
That’s not what this is. I want you to be really thought out, have this whole thing thought out and planned for and know what you’re doing before you dive in before you join Land Academy, before you do anything like this. So, that’s part of why I can say our group is that good, because there’s that many… They’re smart people. They did the homework, they did these things. I’m going to tell you to do right now before they even pushed the button or considered joining Land Academy and going down this path.
Jill DeWit:
One of the things that they did is they soaked up all the free knowledge they could get their hands on. They were a fly on the wall for probably six months.
Steven Butala:
Or a year.
Jill DeWit:
Or longer. They were watching our shows. They listened to podcasts. They joined Land Investors, the community. They’re reading what people are doing. They’re following all their conversations. Everything they can possibly get their hands on and it made sense to them. So that’s number one, do everything you can for free.
Jill DeWit:
Number two, still for free, start chatting with them. I want you to spend a lot of months, get an idea of what’s going on. So, you asked some educated questions. So that’s the second thing they did. They started to reach out to people in the community going, “Hey, I gather you guys are doing this and I think this is what’s going on over here. Is this kind of how this process goes? Is kind of what your numbers look like? Is this kind of how you guys are taking down these properties and doing these deals?”
Jill DeWit:
So then they slowly started to ask well thought out educated questions to really immerse themselves and start connecting with other people in the community. It does a couple things. One you’re going to learn. And B, it’s your way of making sure you’re in the right place too. How do we connect? Are these my people? Do I understand them? Do they understand me? Kind of thing.
Jill DeWit:
And then the third thing that they all did also was if they didn’t have the funds, they didn’t do anything silly about it. They even took more time to save up, to be able to do this right. They saved up enough to get the education the right way and not being under the gun, not worry. Save up to be able to afford the data, afford sending out mail. For months. I want you to be able to do this calmly. They didn’t run out and sell some things they needed or run up a credit card or anything crazy like that. I can with confidence, like I said on day one, we’re not going anywhere. We’ll be here.
Steven Butala:
Yeah.
Jill DeWit:
I don’t care if it takes six months or a year, we’ll be here. Don’t worry about it. And, by the time you join, because you took six months from now, Hey, guess what? Congratulations. Now I have even more data for pricing. It’s going to be even easier for you, whatever it is. So they did all those things. So they really knew what it took and what they were doing, getting into it. So, then when they finally joined something like Land Academy, they’re, “Oh, I’m ready, man.” And they’re chomping at the bit too. What would you like to add?
Steven Butala:
I have two very specific points to make. If you’re thinking about starting in real estate and specifically land. Number one, I want you to go on to LandInvestors.com, get a username, it’s all free. This is not a commercial in any way. This is for you to determine if you want to do this. And, I want you to ask some really tough questions because there’s people on Land Investors that were two months ago, they were going through what you are going through today. And six months ago and a year and two years in five years and an arc in my case, 25 years. And they’ll tell you the truth of it. They’ll tell you right down to the last detail on what your question is, “Oh yeah, I didn’t know anything about data. And that was a huge hurdle for me and it took me [inaudible 00:09:03].”
Steven Butala:
They’ll give you a lot of details and advice for nothing at all. So that’s number one, ask a lot of questions.
Jill DeWit:
Yep.
Steven Butala:
Ask them if this Land Academy thing is even real at all? They’ll tell you.
Jill DeWit:
Yeah.
Steven Butala:
Number two, I want you to go get the free e-book on LandAcademy.com. And in there, it’s right in the first, which I wrote. In there on the first chapter, it’s going to talk to you about an exercise on Craigslist and how you put out… I actually tell you what to write, which is all free. Go on to Craigslist, go through this exercise and see what type of response that you get from the market that you’re in. From people either buying or selling real estate and you’re going to be shocked out of your mind at the positive response that you got.
Steven Butala:
So, if you can’t or don’t want to do those two things, this is not for you at all.
Jill DeWit:
Right.
Steven Butala:
Those are simple, free things that will take you less than 10 minutes. And they will give you the answers that you want. So, what you don’t want is three or four or five months from now to have this, “Oh man, I don’t want it. I didn’t know this was this much work. I didn’t know there were this many moving parts to buying and selling land and starting a land business. Maybe I should just go be a day trader. I can go get an E-Trade account and start trading right now. Maybe I’ll take a class over here and the whole thing’s right in my computer and I’ll be done it by 10:30 every day.”
Steven Butala:
That’s not what this business is like. It takes a huge amount of effort, intelligence and tacking, like a sailboat. “Oh shoot, this didn’t work. Oh, darn. This did work. Darn, this works.” Okay. And then if you do all that, you’re going to end up making half a million bucks a month. So, it’s worth it. And the difficulty of this, difficult is not the word, the dedication that will pay off.
Jill DeWit:
Yeah.
Steven Butala:
So, if you’re that kind of person who is patient and dedicated and-
Jill DeWit:
Tenacious.
Steven Butala:
Methodical.
Jill DeWit:
Yeah.
Steven Butala:
You’re going to do great in this business. But, if you’re the kind of person who just wants a Ferrari or here’s my favorite is this. I’m not knocking anybody’s personality here. When I describe to people that what we do and more than half of them say some version of this sentence, “Can’t I just give you $10,000?”
Jill DeWit:
And you turn it into a hundred and I just sit over here?
Steven Butala:
Yeah.
Jill DeWit:
Yeah, no.
Steven Butala:
However you think that works, that’s fine. If you want me to-
Jill DeWit:
I trust you.
Steven Butala:
If you want me to sign some stuff, just let me know. I don’t want to go through all that. This is not for you at all. Even being a money person in this group is way more difficult and time-consuming than that.
Jill DeWit:
It’s the good money people know what we’re doing. They’re into it in some way too. And so there’s not a lot of talking. I don’t have to convince anybody anything, it makes it great. So, awesome. Thank you. That was perfect. Happy you could join us today. Don’t forget five days a week and find us right here on the Land Academy Show.
Steven Butala:
Join us next week for another interesting episode. You are not alone in your real estate ambition.
Jill DeWit:
And you are not alone in your deal funding needs. I can meet them. Don’t forget, go to LandInvestors.com or you’re getting that free account that Jack just described. Click on the top, click on the deal funding. You don’t have to be a member. FYI. Because, we really do mean no good deal should go to waste. We won’t let it. I promise. Thank you for tuning in. We hope you find our content valuable and we do appreciate your support. If you haven’t already pleased zip on over to our YouTube channel, hit the subscribe button and comment on the shows that you love.
Steven Butala:
We are Steve and Jill. Information.
Jill DeWit:
And inspiration.
Steven Butala:
To buy undervalued property.
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