Jill Friday–Why Non-Techies Make Great Land Investors (LA 1897) - a podcast by Steven Butala & Jill DeWit

Transcript:Steven Jack Butala:Jack 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:I'm Jill DeWit, broadcasting from the Valley of the Sun.Steven Jack Butala:Today, Well, it's still Friday, and she's going to talk about why non-techies make great land investors.Jill K DeWit:Thank you. As I alluded to yesterday, because of the nature of the business that you developed years and years and years ago, the whole underlying theme of using data and mail and all kinds of technical things, we naturally track really smart, brainy PhD engineering types of people. But there's a subset within Land Academy. I like to think that I'm partially responsible for, of those of us who don't necessarily think that way and we smash it. And I want to talk about that today.Steven Jack 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. Back in the day, it was almost impossible to find a piece of land without a mailing address, like 123 Main Street. Why? Because the post office didn't assign, and has still hasn't assigned, the vast majority of pieces of real estate in this country. They don't need to. Nobody gets mail there. So instead, we decided to make this database of 150 million properties or so in the country, finite instead of infinite. And we put together a website called neighborscoop.com. So all you need is the state, the county, and the assessor's parcel number to find just about any property in the entire country. And we've added a bunch of things to it to make it make a lot of sense for Land Academy type people as far as analyzing property to see if you want to buy it really quickly.Jill K DeWit:All right, back to our question, Corey wrote,"As a newbie, one topic that I'd like to see covered is what phase two due diligence looks like."We're going to do that next week in career path."The weekly member calls are amazing for what? For seeing what phase one due diligence is all about. But I've not come across anything that breaks down some of the things we should be looking for in phase two. I believe I have a pretty good idea, but I'd love to have a podcast to reference."It's funny, I did a deep dive on this on a Facebook live event. I've done phase one and phase two due diligence thing. So if you dig in our community, you'll find it. Okay, so let me back up. What's phase one due diligence? That's the thing that you spend five to 15 minutes on. Five, if you're me, 15 minutes if you're new, checking a property when it comes in to see if you want to buy it and see if it passes your test to move it forward in the process as an acquisition. That's where you cover all the six A's. And like I said, if it passes those, now you push it forward. What are the six A's? You want me to go into that much detail here?Steven Jack Butala:Sure. The six A's are really simple. It's access. Affordability, is it cheap enough to buy? Attributes, is it cool? Other fun stuff around it, like Las Vegas, or is it in the middle of a subdivision, which is cool, too? Or is it in the middle of nowhere? Not so cool.Jill K DeWit:Acreage.Steven Jack Butala:Acreage, bigger's better, almost always.Jill K DeWit:Alive.Steven Jack Butala:Alive, is the person that owns the property alive or do you have to undo a bunch of legal stuff?Jill K DeWit:And adjacent.Steven Jack Butala:And adjacent, what is immediately next to the property? Which leads you to phase two, due diligence.Jill K DeWit:So if it passes all that stuff, now you're going to move it forward to phase two. So this could be a whole different podcast. So I'll touch on it lightly and maybe let's make it a whole different podcast next week.Steven Jack Butala:Yeah.Jill K DeWit:And we can deep dive a little bit more. Phase two is, it passes all those things, but I'm not quite sure if the person...

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