Decide Which Land Parcels to Buy and Not Buy (CFFL 0200)
Decide Which Land Parcels to Buy and Not Buy
Jack Butala: Decide Which Land Parcels to Buy and Not Buy. Every Single month we give away a property for free. It’s super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don’t even have to read it. Thanks for listening.
Jack Butala:
Jack Butala for land academy. Welcome to our cash flow from land show. We show you how to buy property for half of what it’s worth and resell it the next day. Great information and instruction from Jack, that’s me.
Jill DeWit:
And inspiration from Jill, that’s me.
Jack Butala:
In this episode Jill and I talk about how you decide which land parcels to buy and which ones not to buy. Jill, great show. Before we start, I’m sure that you have some funny stuff that happened to us recently.
Jill DeWit:
I can actually say that I now know what you were probably like, Jack, at the age of let’s just say eight on Christmas morning.
Jack Butala:
Oh my gosh.
Jill DeWit:
You are walking around like it’s Christmas still with your new toy and your new hobby and all of that. I don’t mean it in a bad way.
Jack Butala:
I know you don’t. I’m just happy thinking about it.
Jill DeWit:
I’m just saying you have a hobby and it’s funny because like a kid at Christmas, you get this thing and you can’t put it down. You carry it around and sleep with it. Jack, you’re carrying this thing around and sleeping with it, you know that?
Jack Butala:
I know.
Jill DeWit:
I think I woke up with your helmet in bed with you.
Jack Butala:
I just bought a motorcycle recently. I mean, I’ve been riding my whole life, but when the kids were little I just gave it up for safety reasons and the whole thing. The kids are a little bit older now. I don’t drive like a maniac anymore, most of the time. I got a smoking deal on this thing. I’m just having a blast.
Jill DeWit:
I know you are.
Jack Butala:
It just goes to show you have a ton of money and limitless time and all that, just the simplest stuff you just revert back to simple stuff. Thanks for noticing. We’re all really kids inside. I think, don’t you?
Jill DeWit:
Yes.
Jack Butala:
I know you are.
Jill DeWit:
You know what? I’m not kidding seriously. It’s the funniest thing. I don’t recall the last time I saw someone on a motorcycle getting on the road with a grin on their face as big as yours. That is how you look.
Jack Butala:
You know what it is? Driving to work in the morning, it’s not even far, it’s like four miles from where we live but it just changes the whole thing. I put a cup holder in there a couple days ago and now I’m just even better. I’m about to put a stereo in there. I’m just really happy about it, the whole thing.
Jill DeWit:
You look, you’re beaming, you know? It’s like a bride on wedding day. I hope that’s the right example because I know I always do that but you’re beaming.
Jack Butala:
You take something that’s not fun like a commute and all of a sudden you make it fun in every single day. Thank you for noticing. Do you have something in your life that’s like that right now? I know what it is. I know exactly what it is.
Jill DeWit:
Getting an assistant?
Jack Butala:
It has to do with Catalina Avenue.
Jill DeWit:
Oh yes and we’ll leave it at that.
Jack Butala:
Jill and I got a place in Los Angeles, well it’s going to end up being back and forth but eventually permanently. She’s always wanted to move back there. It’s kind of something she’s just had to get back to in her life. Talk about a smile on your face permanently. That makes me happy that you’re happy. That’s the thing. Like a little kid. That’s good. Thanks for bringing that up. It’s all positive.
Jill DeWit:
It is.
Jack Butala:
Let’s take a question that’s posted by one of our members on success plan dot com our free online community. I just lost my place.
Jill DeWit:
That’s okay. This family wrote it. The Watson family said, I love that that’s their tag on there.
Jack Butala:
That’s their username
Jill DeWit:
Exactly. Oh this is hilarious. Working with a seller that’s requesting two one ounce gold eagles instead of cashiers check for $3,000. That’s his payment for buying a property. The seller wants to receive the gold coins at the time of the signing with the mobile notary. I locate a reputable mobile notary in the seller’s area. One thought was have the package sent to the notary from a coin dealer with the two coins. The notary would hand to the seller after the deed was signed and notarized. Does anyone have any experience exchanging property for precious metals? Heck yeah.
Jack Butala:
That’s why I put this in here.
Jill DeWit:
Heck yeah. You want to answer that Jack?
Jack Butala:
Yeah. Here’s the answer though first, it should happen exactly how you would do it with the deed and a cashier’s check and make sure that you trust the notary. The normal was to close a transaction very quickly is you send a notary out with a cashier’s check and you send the notary along with all the documents that you generate. They show up at the person’s door or a nearby Starbucks or McDonald’s or something. They sign the thing. The notary stamps it and notarizes it and then the notary hands over the cashier’s check. Well, in this case they’re going to, vise versa, they’re going to hand over gold and hopefully the notary will send it back. There’s a lot of trust in the way we do these deals.
Jill DeWit:
Hopefully. Me too, I haven’t had an issue.
Jack Butala:
There’s a lot of trust. Right, either have I. That’s that. I wouldn’t even … it’s an awesome question. It’s fun the talk about on the air. Yes, Jill and I have received all kinds of precious metals in the past. It’s not the strangest thing that we’ve received. There’s a lot of things that are requested of us that we receive like pick up truck x. We say no but gold and silver, there’s a hundred ounce silver bar son our kitchen table right now as a centerpiece.
Jill DeWit:
As a payment for something.
Jack Butala:
As a payment for some stuff. I think it’s a great idea and I don’t discourage it. I even looked into one time cutting a deal with a local dealer where somebody sends in … it’s just, I guess what I’m saying is it’s possible but it kind of monkeys up the thing. We’re all here to make money. If you’re selling a hundred properties a year and you want to do a couple of them for [inaudible 00:05:38] or something, that’s great. Don’t make a habit out of it.
Jill DeWit:
You could side tracked. You’re spending a lot of time now doing this.
Jack Butala:
Not to mention tax things and all kind of stuff. It’s a fun story to talk about though.
Jill DeWit:
It is. I like it.
Jack Butala:
If you have a question or you want to be on the show call 800-725-8816. Today’s topic how to decide which land parcels to buy and not buy. This is the meat of the show.
Jill DeWit:
Having a criteria. I’m trying to think.
Jack Butala:
That’s it. We can end the show right now if you want.
Jill DeWit:
Okay. That’s really it. Start, at least when you’re new and you’re spending a lot of time learning and researching in whatever certain area and a certain size parcel in a certain county. You have it in your head when you send out your mailer what your target price range is and all that good stuff. Stick to you criteria. People are going to start calling you hey do you want this. I still get it all the time. It’s the funniest thing. People sending me homes that are done, remodeled and staged. I’m like, that’s nice thank you. That’s not at all what I’m buying right now. I stick to it. I say “thank you very much and no thank you.”
Jack Butala:
I get golf courses, airports, all kinds of stuff for sale. Marina, I got a marina a month ago.
Jill DeWit:
I remember the golf course. That was funny.
Jack Butala:
My answer is politely … Again in the back of my head I’m like this might be greatest deal there over was, but you know what I’m not going to buy it. I’m not even going to look at it. I’m not going to waste time. Now’s appropriate for us to revisit the four A’s because when I get a property in … Now the only way we buy property at all is through the mail. We send mail out, it comes back. The second that, we have people now that do it, but if it gets to me for whatever reason if it’s a hundred and fifty properties or something, the first thing I do is run a four A test. It’s plastered all over our education programs. Now’s an appropriate time to revisit it. Access is the first I look for on Google earth, but the way. Attributes, is it close to something, is it just smack out in the middle of nowhere or does it have mountain views? Is it close to some quaint small town? Is it in Big Bear? We do buy property there right now all the time. There’s that, access attributes, acreage. Bigger is better almost always. Then finally, affordability. Is it priced right? The way we send offers out it’s almost priced right. Believe me, if Jill gets involved, it’s priced right.
Jill DeWit:
[inaudible 00:08:22]
Jack Butala:
Get that and just practice it practice it practice it. Make it a habit. The more you do it, and just learn to say no. I get a lot of scheduled calls for the consulting that I do for people saying “hey Jack should I do this deal? Should I do it?” The first thing I say is “what’s your acquisition criteria?” They say “what? What do you mean acquisition criteria?” That’s why we’re doing the show. You got to have one. Otherwise you’ll never buy anything.
Jill DeWit:
Your acquisition criteria cannot be any good deal that comes my way.
Jack Butala:
That’s what ends up happening.
Jill DeWit:
No that is not your acquisition criteria.
Jack Butala:
You know what? When I was new that was my acquisition criteria then nothing gets purchased or sold.
Jill DeWit:
That’s it. You get bogged down in researching stuff that has nothing to do with your criteria and then like you just said Jack, you’re right nothing gets bought. Nothing’s purchased.
Jack Butala:
It’s funny that we mention that because this is the technical two. Two minutes of property investment advice from our fifteen year, fifteen thousand plus deal experience. Please have an acquisition criteria. I’m begging you. It matter so much. If you don’t have one, I’m going to give it to you right now and if you’re in the land business. If you’re in the house flipping business or wholesaling business, close your ears for just a minute. No, two minutes. You want to buy properties if you’re west of the Mississippi for about a hundred dollars an acre or less or five hundred dollars per lot. That’s your criteria. Then the other four A’s, the other three A’s I should say, the more of the three A’s that they have the ones that we just described, the better.
If you’re east of the Mississippi you want to kind of be in a vacation lot scenario. Northern Michigan, there’s tons of stuff on the east cost that’s close to little quaint communities all over North Carolina. We buy property there all the time, Florida. Then, two, three, four thousand bucks you want to pay to buy the properties and sell them on terms to people in Craigslist or whoever is looking for a vacation spot. The four A’s still apply there. There’s your acquisition criteria. I encourage you to develop your own and off shoot it. There’s all kind of ways. If you go into success plan and type that in and just look at what people are buying and how they’re using the data to doorstep product that we have. It’s pretty amazing. Everybody’s got their own off shoot of it but that happens to be ours and we’ve been doing it for fifteen years.
Jill DeWit:
I tell people to write it down, too. I’m serious, I don’t think it’s crazy.
Jack Butala:
Get a whiteboard.
Jill DeWit:
Write it down. Have your clearly defined acquisition criteria. This is going to save you, especially when you’re new. Write it down. Have it taped on your computer or like Jack said, on the wall. I’m looking for this kind of property. This is the size. I’m willing to go up to X price. Have that already in your head too, what your budget’s going to be, period. If it doesn’t meet your budget, move on to the next one. Also, have the four A’s right there in front of you and be thinking about that all the time. If you stick to that before you know it you’ll have gone through thirty, forty, fifty accepted offers and you picked out the five that you love that you bought. You still might come circle back around to the other ones but you picked the five best ones. You’re working on those and you’re on your way, you know? Don’t make it difficult.
Jack Butala:
Well said. If you have any questions or you want to be on the show call 800-725-8816. Inspire us Jill.
Jill DeWit:
Are you only trying to change, not only but are you trying to change things … No I’m going to back up here. Are you only trying to change those things that you can control? My point is stop trying to change things you can’t control. You should really only be focusing on those that you can. For example, people. Seriously. Poor Jack. Jack looks at Jill’s inspirational moment as all about Jack. No because I’m sliding it … That’s really not where I’m going with that.
Jack Butala:
Every person in an interpersonal relationship they should have a show like this.
Jill DeWit:
That’s right because your significant other or partner can actually vent a little bit and you can’t do anything about it.
Jack Butala:
Personal suggestion for me that everyone else is forced to listen to on the show.
Jill DeWit:
No it goes for me also. That’s so funny. You want to hear something really funny? You know who inspired this for me this morning? I read a Grant Cardone thing on Facebook. That’s why I’m like, it made me think a little bit. Whatever his comment was it made me thing. I just want to make everybody else think too. You know, stop trying to change things that you have no control over. Only focus on the things that you do have control over. People’s one of them. There’s many many other good examples. You’re not going to change people but you can change how you react to them. You can change how they effect you and you can change how you continue on your day.
Jack Butala:
You know what you can control? You have a tremendous amount of control over and our new members don’t understand it until they get into it. The price that you pay for a piece of property. Here’s how you lose control of the price that you pay for a property. You send out a postcard or some crazy thing like that. The you say hey I’m thinking about buying your property give me call. We’ll talk about it. Well, that’s exactly what’s going to happen. They’re going to call you and you’re going to talk about it and nothings going to happen, or you can send them an offer and say in thirty seconds or less I’m going to pay you five hundred bucks for your property. Take it or leave it, yes or no. That’s exactly what’s going to happen certain percentage are going take it. You have control over price that you pay for a property. If they say no, then open the next letter that came back. If that person says no, on and on and on. If you get to the last letter and everybody said no, send out more mail because they will come back. Go on success plan.
You can control a lot of stuff that you think you can’t control. People, for sure you can’t control.
Jill DeWit:
Never.
Jack Butala:
Take it from Jill. If anybody can … Never mind. That back fired on you sweetheart.
Jill DeWit:
Oh gosh. Oh boy. Yeah. Speaking of not being able to control anybody, I can’t control when I’m trying to go on this moment. That’s okay. You know what? I’m not going to let it effect me. I can control myself and I’m going to roll with it and I’m going to have fun with it. Everybody listening gets it.
Jack Butala:
Join us in another episode where Jack and Jill discuss how they control other. With information, that’s me.
Jill DeWit:
And inspiration, that’s me.
Jack Butala:
To get just about anything you want by controlling people.
Jill DeWit:
We use control everyday. We use our control and control over other things to buy property for half of what it’s worth and sell it immediately.
Jack Butala:
Get there first. You’re cracking me up.
Jill DeWit:
Speaking of control. That’s so funny.
Jack Butala:
Cracking me up.
Jill DeWit:
No you know, I feel a little bad, Jack, I don’t mean … You’re looking at all my inspirations saying that they’re directly for you.
Jack Butala:
I know.
Jill DeWit:
They’re really for me and everybody else and you’re a byproduct so that’s good.
Jack Butala:
We’re all just horsing around a little bit. Well, we’re learning stuff and horsing around that’s the whole thing. I love your inspirational stuff, most of them.
Jill DeWit:
The truth is, I think our listeners know this, that we don’t rehearse this. We have our topics and things figured out but we don’t rehearse it together.
Jack Butala:
That’s pretty obvious, yeah.
Jill DeWit:
We want to inspire each other and surprise each other and really get real reactions. There’s plenty of things we rehearse ahead of time, but this show is not one of them.
Jack Butala:
I do this podcast because it’s the greatest way to not work during the middle of the day there ever was.
Jill DeWit:
There to you go. That’s to be another thing. Are you trying to get out of work? Start a podcast. There you go.
Jack Butala:
That’s a whole show. Jack and Jill, information and inspiration. Let’s go buy some property.
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