Our Land Business on the Road (LA 1594)
Our Land Business on the Road (LA 1594)
Transcript:
Steven J Butala:
Steve and Jill here-
Jill K DeWit:
Hi.
Steven J Butala:
Welcome to the Land Academy Show, entertaining land, investment talk. I’m Steven Jack Butala.
Jill K DeWit:
And I’m Jill DeWit broadcasting from the valley of the sun.
Steven J Butala:
Today Jill and I talk about our land business, on the road.
Jill K DeWit:
I would like to start by saying, here’s what happened. We are doing our show, our land business on the road goes great, but our podcast recording on the show, not so great. So we were supposed to record these on the road last week, but from the campsite, which was a beautiful lofty goal for us, but totally, totally failed. So it didn’t, it just didn’t work. It’s like you can’t. So we’re going to talk about that. What the, my point I want to make today is, and I’ll just to give you insight and we’ll explain more, is your land business can just be seamless on the road, I promise.and I’ll fill you in how, but if you have a podcast or you do weekly zoom calls or some big webinars or things like that, no, that, no, you can’t be seamless from a campground or a boondocking.
Steven J Butala:
Well I’m working on that-
Jill K DeWit:
Okay well-
Steven J Butala:
Star Lynx coming, and it’s not available.
Jill K DeWit:
It’s not there yet. That’s my point. So…
Steven J Butala:
What she’s specifically referring to is the internet connection-
Jill K DeWit:
Right.
Steven J Butala:
Everything else with the equipment from the, oh, that’s great.
Jill K DeWit:
Well, and I can get in enough to do the land business-
Steven J Butala:
Yeah-
Jill K DeWit:
So I’m going to, I’ll fill you in.
Steven J Butala:
Yep.
Jill K DeWit:
Thanks.
Steven J 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. And don’t forget to subscribe to the Land Academy YouTube channel and comment on the shows you like.
Jill K DeWit:
Shannon wrote: Is it common when people are buying a mobile /manufactured home, to put the land that the mobile home company offers, to pay off the loan and then roll it into the balance of the manufactured home they’re buying? [inaudible 00:02:06] Put it, put on the land that they’re doing. Okay. Got it.
Steven J Butala:
So I think what you’re getting at is, well, let me kind of rephrase the question as I understand it. There’s a mobile homes that are installed on land that you own, and we’re in a land business. So we love that. Let’s say it’s an acre, acre and a half somewhere. And there’s mobile homes in a mobile home park that somebody else owns. A mobile home park. And so in that case, you owe the person who lives there, owns the mobile home itself, but not the land under it, and they usually pay land rep. Lenders love the first type and so to we.
Jill K DeWit:
Mm-hmm (affirmative).
Steven J Butala:
Where you actually own the land, and it really, really helps to get a loan successfully done, especially on our newer mobile homes. So, there’s two different types of mobile home scenarios. It’s a lot harder, although it’s very possible and plausible to get a mobile home loan just on the mobile itself, the way you would get a car loan, it’s personal property, but our way is way better. In fact, in my experience in doing land and mobile home scenarios, they’ve been, the way that we have it priced, no one’s ever been turned down for a loan under, when it’s combined land and mobile home.
Jill K DeWit:
Mm-hmm (affirmative). It’s amazing to me now, by the way, what people are getting loans on. We just have it, we have an offer right now, that’s going through, it was a buy for 25, sell for 65. The guy is borrowing $52,000 and he’s paying the rest cash and he’s already pre-qualified-
Steven J Butala:
Wow.
Jill K DeWit:
And it’s just rural vacant land, not mobile, but so, it’s just getting easier and easier by the way, for these people to get financing and all kinds of things.
Steven J Butala:
Mm-hmm (affirmative).
Jill K DeWit:
So [crosstalk 00:03:48]
Steven J Butala:
That goes in waves.
Jill K DeWit:
Mm-hmm (affirmative).
Steven J Butala:
It’s real easy to get financing sometimes. And it’s real tough, depending on where the economy is and everything else.
Jill K DeWit:
I like that people are figuring out that land, if you buy it right, you can’t lose on the land, too.
Steven J Butala:
Today’s topic, our land business on the road. This is the meat of the show.
Jill K DeWit:
So here’s the scoop. We took off in our wonderful 24. Let me paint, let me paint the picture for you; Jack lovingly calls it Barbie’s dream camper, ’cause it kind of is. It’s a beautiful 24 FB, a Mercedes Delano reg, probably seen pictures of it online. I’ve been putting things on Facebook and things like that. It’s really, sweet and pretty.
Steven J Butala:
Maybe our guys can roll a couple of still shots-
Jill K DeWit:
They probably are as we’re doing this. So anyway, we take off on the road to do everything. Well, we start off with a couple of closings. What does that mean? I got to get some documents printed out, notarize and one to FedEx and one to UPS because the different title companies use different deliveries, whatever, no big deal, not hard to do, easy to go somewhere like a UPS store by the way, print out the documents, have a notary right there and just hand them over, scan them by the way. So I can scan them to my team and then just hand them over and they’re off on their mail in the mail. That was easy and by the way, it was the funniest thing, it was cheaper here in Arizona, especially mobile notary, I’m spending a 100, 150 bucks. I think we spent $30 on the whole thing.
Jill K DeWit:
It was so sweet cause they were in just some little town and they just charge $10 for the notary and it was so cute, anyway. So that part is easy, and having, enough of a signal, most of the places that we went, especially when we’re traveling through a bigger town on our way to a campsite, I can check email and I can catch up on things. And while you’re getting gas or doing propane or we’re grocery shopping, or just having lunch somewhere, checking out an area, that’s not hard at all, especially so many fast food restaurants have really good, strong internet signals. You can sit in the parking lot anywhere and do your work for an hour. That’s not, that’s not hard at all. So, what was difficult for us, was why I want to make sure everybody knew don’t freak out because there’s a rolled around and we’re doing our podcast, that wasn’t happening.
Jill K DeWit:
And then we needed to do our zoom calls and that had happened. So what’s funny is I did a zoom call on a Tuesday, again from a parking lot in a bigger city, seamless. It was beautiful. I had no trouble. I had audio, I had video. It sounded great. There were no hiccups. I was technically in the parking lot of a Taco Bell. If you really want to know, between Taco Bell and a mall and it worked great.
Jill K DeWit:
So then, where was that? Farmington? I think it was Farmington. Then we get to Durango and we’re at this great campsite, a few miles north of Durango, not happening. That was the part. So I was worried, people were like “oh no, they want to do what we’re doing.” They want it, and this is my whole point here. People want to do what we’re doing. Have your land business, go off and do a week of fly fishing or just exploring or go to national parks and go camping and go hunting and go hiking, whatever dirt biking, sings to you. I want to make sure you know you, majority of the time, can do it. And I know you’re working on ways to make it better.
Steven J Butala:
Yeah, that’s what I was going to say, last week was a utter test.
Jill K DeWit:
Mm-hmm (affirmative).
Steven J Butala:
And so it’s cutting to the chase here. All the stuff that we had to do to buy and sell land, was easy. Everything that we had to do to live televise webinars was impossible only due to the internet connection and that’s it. So we will solve that. There’s a lot of solutions for it. It’s very, very possible and relatively simple to run a land business from the road.
Jill K DeWit:
Mm-hmm (affirmative). That part’s no problem.
Steven J Butala:
When you do it, you do the big picture. When you do the big picture math on this, let’s say, you want to do one or two transactions a month. And each transaction you make 20 grand net. So now you’re doing $20,000 to $40,000 a month times, let’s just say 10 to be conservative. Now you’re making $200,000 to $400,000 a year. Not to mention the incredible, I mean, you’re probably working four or five hours a week doing those kinds of transactions. Plus it’s so much cheaper on the road than it is to live in a house.
Jill K DeWit:
Mm-hmm (affirmative) And you can plan this out. So plan you know, maybe Tuesdays and Wednesdays are your work days.
Steven J Butala:
Mm-hmm (affirmative).
Jill K DeWit:
I don’t know. And you let your sellers know that you’re going to be calling them back on those days and make sure what’s the best number and the best time to reach them within the window that you’re available. Now, the buyers, that’s where you want them to do a couple things. One, you want to be as accessible as you can, answer your phone when you can and/or set up a service so they will answer the phone, answer questions for you and make an online checkout, some kind of quick, easy online checkout system. So you could do this. You could have some kind of an answering service answering your phone calls and directing them to the payment portion on your website. That’s easy, even if it’s just a ticket deposit to lock it in and then they can tell them, “All right, and Mr. You know, and Bob will call you back. He always returns calls on Tuesdays and Thursday afternoons. What’s the best number? And he’ll call you and get the deed information and set up escrow and whatever’s needed.” Fill in the blank. Not hard at all.
Steven J Butala:
Nope.
Jill K DeWit:
That’s just a little planning.
Steven J Butala:
Bear in mind too, we film everything. So there’s just a lot of stuff going on for us. We’re not the best gauge. Well, if we can do it, you can do it. That’s my point.
Jill K DeWit:
That’s true. Yeah. Once again, we’re failing, so you don’t have.
Steven J Butala:
That’s what Land Academy is, two decades of us failing. So you can learn how to do it the right way.
Jill K DeWit:
We are always going to be one step ahead of you making all the failures and then telling you what not to do, love it. Happy you could join us today, five days a week, you can find us right here on the Land Academy Show.
Steven J Butala:
Tomorrow the episode on the Land Academy Show is called ‘How much work really goes in to our land deals?’ You are not alone in your real estate ambition, kind of this topic kind of bleeds into tomorrow.
Jill K DeWit:
Mm-hmm (affirmative) Yeah, it’s good to know. Sometimes it kind of ties into what you talked about. What’s coming up on Friday, too, where you had to kind of reel me in a little bit, ’cause you can get lost in your land deals. So we will help. We will help you and give you some tips about how much time you should spend on what and on what parts and where overkill is appropriate and where overkill is not appropriate. Thank you for tuning in. We hope you find our content valuable and we appreciate your support. If you haven’t already, please check out our YouTube channel and hit the subscribe button.
Steven J Butala:
We’re Steve and Jill. Information-
Jill K DeWit:
And inspiration-
Steven J Butala:
To buy undervalued property.
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