Winning Strategies: The Ins and Outs of Land Auctions (LA 1947)

In this episode of the Land Academy Show, Steven Jack Butala and Jill K. DeWit discuss the ins and outs of land auctions and provide tips on how to win the bidding war. They also talk about their own garage sale auction where members of the Land Academy community can bid on properties. Later in the episode, Jill shares how to make a million dollars a year through single land transactions each month. Steven and Jill also answer questions from the Land Academy Discord Forum and review recent land acquisitions. Tune in for valuable insights and entertaining banter. Transcript: Steven Jack Butala: I'm Steven Jack Butala. Jill K. DeWit: And I'm Jill DeWit, and this is the Land Academy Show. Steven Jack Butala: This is episode number 1,947. Today, we are talking in depth about the ins and outs of land auctions, how to win the bidding war, and then a little later in the episode, Jill is going to talk about how to make a million dollars a year doing single land transactions each month. Jill K. DeWit: Now, I got to tell you something funny, because we just turned on our garage sale, I don't know if you knew that or not. Steven Jack Butala: No. Jill K. DeWit: We just re-turned it on last week. I don't know if it ends on Thursday or Friday this week. Anyway, what the heck am I talking about? We have collected property in our life. You know what I mean. Some we've had a while and some we haven't, but we just have had. We just come across great buys, let's just say that, and sometimes I look at them and I go, "Shucks, is this something I really want to sell? I don't know. It's not really worth an agent to get involved." So I'm like, "You know what? I'm going to give it to the Land Academy community." So what is this? We have our own little garage sale auction. It's bidding in $50 increments, and you could pick up a great property for a couple of hundred bucks, and people have done that and they gone off and sold it for a couple thousand bucks. It's a great way to get started. It's funny because it's an auction format, that we have a beginning time and an end time, and the highest bidder wins, but it's all within Land Academy that we do this, so it's fun. Steven Jack Butala: Are there good properties coming up again? Jill K. DeWit: Oh, yeah. Steven Jack Butala: Awesome. Jill K. DeWit: Exactly. Steven Jack Butala: Geez, these are properties, some of them, that I bought before Jill and I joined forces. Jill K. DeWit: Some are really recent. They're just too small. We picked them up. They're great deals. I had to buy it, but I'm going to pass that off to the community. Steven Jack Butala: Hey, I hope you're enjoying our longer format podcast. Each week, we answer questions from the Land Academy Discord Forum. We review land acquisitions from our weekly Thursday member webinar and take a deep dive into two land-related topics by popular requests. I just mentioned them a couple of minutes ago. Let's get started, so let's take a question posted by one of our members on the Land Academy Discord online community. If you want to sneak peek at our Land Academy Discord channel, please go to just that, landacademy.com. It's free in our read-only format. Jill K. DeWit: Stephen wrote, "I just walked out of my W2 exit interview and saw new money transferred in my bank account. Thanks, Land Academy. Off to a good start." Oh, that's so great. Steven Jack Butala: There's a couple of good comments in here. Jill K. DeWit: Okay, so some of Stephen's peers weighed in and wrote some notes here. Sid wrote, "Congrats, as it takes a lot of soul-searching and guts to take action. I left corporate America 12 years ago to become a realtor and got tired of the travel and politics. Not that there hasn't been ups and downs in the market, but the joy of being your own boss and determining your own future is one of the best decisions I've made." That's so sweet. Well, look at Samantha. Samantha says, "That's so awesome.