Finance Friday with Steven Butala, Jill DeWit and Justin Sliva (LA 908)

Описание: Transcript:
Steven: Stephen, Justin, and Jill here. Welcome to the Land Academy show. Entertaining land investment talk, I'm Steven Jack Butala with Justin Sliva.
Jill: And Jill Dewit broadcasting from sunny Southern California and
Justin: Dallas-Fort Worth, Texas.
Steven: Today Jill and I talk about, every Friday, Finance Friday and the deals that we're doing.
Jill: And I get to be a guest. Today.
Steven: I know you love that.
Jill: I know.
Steven: Before we get into it, let's take a question posted by one of our members on the landinvestors.com community. It's free!
Jill: Before we get into this, can I talk about what we just were talking about?
Steven: Sure.
Jill: It's so flippin' funny. So we're doing two shows back to back right now. Recording two shows back to back and Justin's the only one who did the cost. See why I'm like, "Yeah whatever."
Justin: You outed me!
Steven: Jill and I, this is show 908, 908 for us, and Justin, show number 12. So he's still excited, you know? We're just done with it. [crosstalk 00:01:05]
Justin: I'm using the kids, threw me a bottle of water to I could lube up my throat. You've got two minutes, go go go! [crosstalk 00:01:17] My son is crawling under my desk right now to get out.
Jill: Steven and I have our feet up today in recliners, whatever.
Steven: We're both a little buzzed from the night last night actually.
Jill: Yeah it doesn't matter.
Justin: Take another shot.
Jill: Guy drops dead right now.
Justin: I went to bed at 8:45 last night, now I feel horrible. We just went to bed early. We watched Jack Ryan.
Jill: Oh cool, how was your birthday? I, last week-
Justin: It was good! Yeah it was pretty low-key on the day before but me and my wife went out the weekend before. First time we've actually had a date, just us two, in probably five or six months, it'd been a while and I've been asking her, she's like doesn't want to leave the new baby with people. We went to the Mexican restaurant that we normally go to and I think we are going to split a pitcher of margaritas and she's like "I want this jalapeno margarita." So then I started drinking rum and Cokes. Nine later at the second bar we're at, with some great people watching us, a cool funk band on, so it was a lot of fun.
Steven: That's how the fourth child happens.
Jill: Yeah. Careful!
Justin: No, no. Unless I have another wife. [crosstalk 00:02:27] If there's a fourth child come involved you're going to see half the wall behind me, she's gonna take half of everything.
Steven: Every once in a while Justin says some really Texan stuff. [crosstalk 00:02:41] Get another wife though. We don't let that happen in California.
Jill: You guys. Alright I will read the question now. I will save this. Read the question. Brandon asks, "I have a money partner that I started mailing for to purchase houses and just closed on our first house and he's in the process of fixing it up and we'll be selling it soon. Now that he has seen that this actually works, he asks if we can mail to multi-family apartments to try to pick up one at a discount."
Steven: This is perfect for Justin.
Jill: I know! "[crosstalk 00:03:20] and I know how to get the data, but my question is, do you send out blind offers for apartments too? If so, how would you price them? Because apartment values based on the net income and cap rate, how would you know what that is? Or, do you offer on a per unit price? But that way again, could be way off because it really depends on the income of the property. I was just curious if anyone has done this and how they did it. I was also thinking of just sending out a no offer letter but I'm afraid I would get bombarded with calls."
Steven: Don't ever, ever, ever do that.
Jill: That's true.
Steven: Really quickly, you know how I say there's some members it's really clear that they're going to be really good at this? This is a member. This is a very, very intelligent question. He's obviously come to us with a bunch of previous real estate experience and we're probably closing the gaps hopefully, or filling some piece of the puzzle. I know you guys buy apartments, tell us how you do it.

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