The Employees We Can Live Without (Rants) (LA 1515) - a podcast by Steven Butala & Jill DeWit

The Employees We Can Live Without (Rants) (LA 1515)
Transcript:Steven Butala:
Steve and Jill here.Jill DeWit:
Hi.Steven Butala:
Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:And I'm Jill DeWit, broadcasting from pretty Paradise Valley, Arizona.

Steven Butala:Today, Jill and I talk about the employees we can live without.

Jill DeWit:Oh, I've got one.

Steven Butala:This is our rant.

Jill DeWit:Oh.

Steven Butala:It's hiring week all week today, all this week.

Jill DeWit:This is going to be good. I'll tell you one employee I could do without, the kind that wants to replace me.

Steven Butala:Who would ever replace you?

Jill DeWit:Oh, wait, I'll fill you in.

Steven Butala:Let's take a question before Jill's rant. It was posted by one of our members on the landinvestors.com online community. It's free. If you're already a member, please join us on Discord.

Jill DeWit:Martin wrote,"A potential buyer reached out to me following my first mailer interested in selling their 0.5 acre vacant lot for $14,682. They informed me that they were selling not only the lot from my mailer offer, but the neighboring 0.5 acre lot. This is cool. I was informed that the additional lot has their deceased mother's hundred year old home on it and it was quoted as being uninhabitable. This is my first mailer and I'm diving into some unknown territory with potentially buying a lot with a home on it and I'd like to get some perspective from the group. The sellers informed me that both lots are off of primary roads and a three minute walk to a lake and both lots are in the seller's name."Jill DeWit:
This is all good information.Steven Butala:
This is really good.Jill DeWit:
Yeah. So here are the questions.Steven Butala:
This is a beautiful story.Jill DeWit:"Number one, pending I can get the home for a low price, is it worth it? I don't want to do a home flip as one of my first buys and would plan to list as is. Two, can I take the home straight title myself or do I need to hire a realtor once I get the purchase agreement back? Thank you to match your health, Martin."Jill DeWit:
This is great. Do you want to go first or do you want me to go first?Steven Butala:
Yeah. 99% of all cases with vacant land, if there's something on it, it's more valuable, not less value. I don't care if it's a blown out mobile home, it's better. The 1% where you don't want this to be the case is where there's something that would fall under EPA guidelines as toxic and it would require a cleanup. So if there's an old house that's fallen down on a piece of property that's a few blocks from a lake, you can tell that's a beautiful, beautiful story. It's a fantastic. With a vacant lot next to it?

Jill DeWit:Yeah. Now you have an acre.

Steven Butala:Yeah.

Jill DeWit:By the way, now you have a full acre. One of them has a house on it. So whoever buys it can keep one, sell the other, keep them both, whatever.

Steven Butala:Can you imagine a situation where a vacant piece of property would be more value than one with an old house on it?

Jill DeWit:Nope.

Steven Butala:Neither can I.

Jill DeWit:Nope.

Steven Butala:All the utilities are hooked up. There's probably a slab there.

Jill DeWit:That's great.

Steven Butala:There's all kinds of positive things that go with that. And people know that. This world, people who go on Craigslist or anywhere are DIY type people. They would love to get a really inexpensive old house and spent five years fixing it up.

Jill DeWit:Someone's going to want that. The hundred year old home that's been there and the loving story that goes with it. That mom lived there for how many years. Maybe dad built it. Maybe grandpa built it. That would be so cool and someone will love that.

Jill DeWit:Another thing is, too, by the way, you can do this whole transaction yourself. Just because there's a house on it does not mean you need an agent.

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