Real Difference Between a Land and House Flip (LA 1695) - a podcast by Steven Butala & Jill DeWit

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Real Difference Between a Land and House Flip (LA 1695)Transcript:
Steven Jack Butala:Steve and Jill here.Jill K DeWit:Hi.
Steven Jack Butala:Welcome to the House Academy Show, entertaining real estate 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 the real difference between a house and a land flip. Basic structure, basic mechanical, send out blind offers, receive them, choose the ones you want, close the deal. There's a lot of stuff in the middle.
Jill K DeWit:It's different. We're going to share this with you. It's different.
Steven Jack Butala:There's a lot of stuff in the middle.
Jill K DeWit:And I'm sure you can tell by my sigh which side I'm on. So there's Beth Dutton in me that just loves land.
Steven Jack Butala:Once a week, a new Land Academy member reaches out to me. I'll put it in terms you can understand, and then we'll get into the details. Once a week, maybe once every other week, a Land Academy member reaches out to me and says,"That's it? I just got done with this land deal. We bought it for 10, sold it for 25. The whole thing took 35 days. And I think I talked to somebody three times. That's all you do?"And I can tell before they even say anything, that they're former house flippers.
Jill K DeWit:Oh, gosh.Steven Jack Butala:That's why?
Jill K DeWit:That's true. Oh, that's funny. Okay. Now I get it.
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. Don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.
Jill K DeWit:Corley wrote,"I was wondering if anyone has any advice for building credibility, other than social media presence. I just got off the phone with a seller and they wanted to know where they could learn more about my company other than my website and social media. I haven't done any deals, so I really don't know what direction to point them in. I haven't set up a LLC yet, but I'm waiting to get a few deals under my belt."I think what you've got is perfect. What are you going to do, say,"Call the Better Business Bureau. I have an A plus"? I don't do that anymore. Uh, oh, you have something to say.
Steven Jack Butala:Watch this. Watch this. Listen or watcher, watch this. Jill, why should I sell my land to you?Jill K DeWit:Oh my. Okay. I wasn't ready for that. That's good. What are your concerns?
Steven Jack Butala:I just want to know it's real. I actually do want to sell my land and I'm pretty sure the price works out, if it works out for you. I want to know that the deal's going to go okay and you have some kind of credibility. Is this a scan?
Jill K DeWit:No, that's why we're going to do through escrow too. I'm going to make sure it all goes smooth. We're going to have an escrow agent closing the deal, if that's the case, whatever it is. Yeah. Then otherwise I just do refer them back to me. Look me up. Google me. Please Google me if you're not sure. Actually I do that now all the time for all kinds of things. We might be doing an Airbnb and I'll say,"Google me,"and they go,"Okay, I see who you are. I see that you're real."And it's totally fine.
Steven Jack Butala:If you're going to own your own business, you are, like it or not, in the business of selling yourself for now and forever. If you own a convenience store and you run it, and you're standing behind the counter and running it, you better get to know everybody in the neighborhood, so they subconsciously start to choose you for light grocery shopping. That's it. So know, this business model and Land Academy itself attracts a disproportionate number of Jacks, not Jills. There's a technical solution for everything. Well, if I just price it perfectly, like we talked about yesterday, if I price this mailer perfectly,

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