How Real Estate Becomes Distressed (LA 1738) - a podcast by Steven Butala & Jill DeWit

How Real Estate Becomes Distressed (LA 1738)
Transcript:Steven Jack Butala:
Steve and Jill here.Jill K DeWit:
Hello.Steven Jack 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 Jack Butala:Today, Jill and I talk about how real estate becomes distressed.

Jill K DeWit:You know, I'm a little stressed.

Steven Jack Butala:You're distressed?

Jill K DeWit:Oh, I'm sorry. Is it distressed? I heard stressed. I am a little stressed.

Steven Jack Butala:Who knows where sayings come from. This word distressed is really, it's a popular thing. It's been popular for a while. To throw real estate into this category of everything's great over here, oh no, this is distressed. We'll talk about that in a minute.

Jill K DeWit:Okay. Thank you. You're going to clear it all up for us?

Steven Jack Butala:Yes. Yes, I am.

Jill K DeWit:Okay, good.

Steven Jack Butala:As complicated topics go, this is a zero.

Jill K DeWit:Oh, good.

Steven Jack Butala:This is the least-

Jill K DeWit:I don't need to take notes.

Steven Jack Butala:Nope. This is the most simple thing you'll ever hear.

Jill K DeWit:Okay. Thank you.

Steven Jack Butala:In fact, it's one of the reasons that we buy and sell land instead of apartment buildings. 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. Did you know that Jill and I personally instruct a handful of new and existing Land Academy members in a live class called Career Path? If buying and selling land is your career, or you want it to be your career, this might be for you. Call us or email us at support@landacademy and see what your real level of involvement is in all this, and we'll help you.

Jill K DeWit:I want to add too, because by the time this airs, I may still have a few seats. I'm looking at the calendar right now. The class starts April 23rd. So this is Q2 2022. This is Career Path session four, and it's amazing. I just sent out an email earlier to a closed group because I realized that they were not real sure about Career Path, what it really was. So it's not just for someone new and just doing land, by the way. We talk about everything. There's guys in there that have REITs and manage REITs. There's guys in there that own mobile home parks and storage facilities.

Steven Jack Butala:Or subdividers.

Jill K DeWit:Right, or just doing large commercial deals or, hey, even own house flipping franchises. So this is a professional room, where you have the opportunity to get to know those people. If that's you, this is for you. If that's not you and you want that to be you, this is for you.

Steven Jack Butala:Yeah. There's always four or five or eight people. We only do this once a quarter for a handful of people, like I said. It's usually between 15 and 20 people, and about five or eight of them are brand new or they've only done a couple of deals. So, we separate-

Jill K DeWit:But they come from other professional experience or they wouldn't be in. So, no offense. It's a screened environment too. We make sure that you're a good fit.

Steven Jack Butala:Yeah. I mean, it's for people who want this to be their career and you're sure of that.

Jill K DeWit:Thank you. Jessica wrote,"What kind of value do existing mobile homes,"excuse me,"do existing utilities to a mobile home add"-

Steven Jack Butala:No, you can say ... She says crappy, it's appropriate.

Jill K DeWit:Okay. Let me back up."What kind of value do existing utilities to a crappy mobile home add to a parcel? Is there a number value you assign to it versus a parcel that has never been built on or does it simply make it easier to sell?"Do you want to add.

Steven Jack Butala:This is a very, very popular question on Discord, tons of responses. And by the way, tomorrow I'm going to screen share live.

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