Personal Growth - Week 4 - Fall 2021

all right we'll go ahead and welcome our our panelists up here brother fraley and brother zimmerman if you'd like to take a place up there and first things first if you need some if you would like some image consulting or dress for success you could and you want to know what the official land uniform is it's me and brother fraley tonight and i promise we didn't plan it it just happened we've got the same shoes pants shirt and jacket the jacket's exactly the same so anyway and then up here is brother zimmerman and i'm excited about this tonight because i actually used to work for brother zimmerman and uh really that's how i got started in the land business so we're gonna have a great time tonight and hopefully we can answer as many questions that you may have as we go through the material tonight over the last few weeks we've taken a look at what types of land sell quickly and for top dollar so tonight let's assume we found the perfect tract for what we want and it looks to be at a fair price tonight we're going to show you how to negotiate a deal and get it under contract by a show of hands who all has actually gotten a land deal under contract at some point everyone here who's done it it's an exciting process and it gets really exciting once you get it under contract so the first question tonight can both of you take a few moments and show us a particular deal that you've done walk us through it how you found it how you negotiated it and later how you sold it and if you have any visuals feel free to show those as well brother zimmerman could you start us off on this yes first of all i'd like to start off and thank brother and sister martin for and sister fadine here representing the martin family and legacy and brother i bought my first land for brother and sister martin and then uh brother sister newberry i want to thank them also and i would also like to thank my wife for her support in our little trek in this land development business so anyway but yeah i've got if you want to put up the first little picture list that uh that's not it anyway that's land right there uh there it is okay that's land two you know this is the first thing that uh that i got from the realtor after i called on a sign i saw on the side of a road and it was a little sign about like this big and it was a timber company that was selling it and i called and they were trying to they were trying to sell the land and this was back in 2007. now 2007 the uh it was a little bit harder to find land and i know it's hard to find land now but it was hard to find land then because we were the fayetteville the fayetteville shell was coming into play and people were holding on to their real their rural land and the the uh the economy was going south so it was it was a little bit tough a little bit different than it is right now but similar in in many ways but so what i did is i i drove down richie lane right here saw the sign called and uh they i made a offer through the the timber company i think they were wanting three thousand dollars an acre i don't exactly remember it was 2007 but one thing uh i never do is pay full price that's i just never i can't ever remember paying full price so i we got the property down to twenty one hundred dollars and i and i bought it but uh before i buy a piece of property i put it under contract and i have what was called in the industry a time of due diligence have you all ever heard that term due diligence brother well i know brother middleton has and that's a time that you check it out you make sure that it's going to perk it's going to it has water it has all the things that you need if if you look at this piece of property uh is anybody buying property around bologna well if you if you bought this property and it was right here instead of right here do you know what you would have to do you would have to go through the velonia planning department and that would take you probably another three or four months to get it approved than if you bought it where i bought it right there so you always want to look at things like that just even the smallest details i had this thing printed out this is got a lot of stuff in it and if you're going to develop in saline county you're going to use every bit of this now were we mostly where we develop out in the country where there's no zoning it's not that big a deal but we'll talk a little bit more about that does that answer your question yes sir and by the way if you didn't get a copy they will be available on the table in the front when we finish brother fraley can you weigh in on that question uh yes sir i had uh first of all i do want to thank uh you brother pomeroy uh brother herman bishop a pastor you know i've had some guys help me out along the way i'd like to thank them as well leigh looper jeremiah blakely and then justin brewer those uh those guys brother stephen haney list goes on and on of uh the giants in the land business in our church i grew up under most of those giants and i heard about the land deal the land business the land business and i just kept thinking man i really got to do that y'all want to look at the procrastinator in the bunch that's me so i had about 40 years of that procrastination and so here i am today uh i also want to thank my wife du who's alone helped me with this and my son who wrote has rode with me on about half of the projects i've went and looked at but there again just to put it in perspective dollar general walmart supercenter okay i started i started my first deal this year back in october last october i made up my mind talked with my wife we decided to go ahead and pursue and just jump in head first there's brother biggs another one i'd i've watched uh really uh have a lot of respect for him and and watch him from afar and see what he's got going on and i'm saying i've gotta i've gotta get on board uh so one of my favorite land deals i say i've only had have a handful but i was telling brother brother pomeroy about it i was at out looking at a piece of ground up around center ridge i stopped in a little grocery store there was a little paper in there and i opened up that paper long story but if you'll bear with me i'll get there so that you know the little free papers they have i think it was a prairie some kind of local paper had an ad in there for some real estate for sale i called the phone number i think it was up around leslie if i'm not mistaken i called the number and the guy said man you just missed it by about an hour i listed it with a real estate agent well he said i said well it's not too late is it i haven't talked to her you know trying to figure out how to go around that real estate agent but uh knowing the price would probably jump with her and it did uh but uh anyway so he said well contact her and uh she'd be happy to show it to you so i did um so i went out there i got made contact with her and uh the land didn't have uh rural water on it that's kind of one of the things i look for but i said well it doesn't really sound like anything i'm interested in but i'm going to go ahead and look at it you hear stories about you know hey i was on the way to look at this piece of ground and i just happened to see this sign like brother tim just mentioned a minute ago was just this big and he made the phone call well that's what i did so i went out and uh looked at the property i was on the way looking at the property and i saw a sign i don't know if sister liz has that sign or not but uh it was a for sale uh for sale by owner sign and it was it was on the side of the road and i just kept i kind of i just kept driving i marked that location i went and looked at the property and just like i had thought really i had my mind on this but it didn't have any the property i went to look at didn't have any water on it rural water it was a big canyon it just wasn't for me so i thanked the lady the real estate agent and i got out of there as fast as i could and headed straight over to this piece of property when i got to the sign well i couldn't hardly even read the i couldn't read the numbers and so i tried about three different combinations uh in hopes of of catching maybe the right one i left messages on three numbers as i was driving out well i got about an hour away and i got a call back and the man says uh yes uh i've got it for sale and uh i asked him about you know did it have uh royal water he said yes it does right there on the road uh it's got power at the road it's got a lot of road frontage to it it's 15 acres and uh uh i said well how how much do you want for it well he told me he said he wanted 30 35 000. now you do the math that's not a whole lot uh for a piece of ground with with a lot of road frontage uh water at the road and electric at the road so i uh it was getting a little late i went ahead and i turned around and i went back and i jumped out and went to looking at it and it did a real fast uh look let me see here um i've got so he told me there's a creek he said one of one of the boundaries is you follow the creek on one side and now i've got some post on the other side and so i followed those those instructions i went over to the creek it looked like a ditch to me wasn't a whole lot to it um and so i went ahead and and he said there's some post that marks marks all the other areas on the property and i found the post the property looked like it had been uh kind of abused really and so he told me so what happened there was an ice storm the ice storm caused some of the larger timber uh to it just made it look a little rough but i said well i'm gonna go ahead and look at it and uh so this uh let me see here so whenever whenever i walk the property uh there was a neighbor next door he was kind of he kind of told me a little bit about it and kind of gave me a little bit of insight on it and i still just kind of half heartedly was interested in it and uh so i went ahead and uh have you got some more pictures let's see what's that next picture now there's the creek and then we got one more there's he had electric on it uh he said he had put up put a you know he's going to make a hunting cabin out of it so he put a cut it out there was a deer stand on it he said there's been bear have been known to be on the property wildlife yeah white-tailed deer turkeys you know which is kind of a big plus when it comes to the you know the land business you kind of attract all the hunters in the area so uh so what we did was is we went ahead and uh i i told him uh when i talked to him i said i'm gonna i'm gonna call you back and when i call you back i'm gonna make you an offer so that's what i did i looked at it i wasn't really enthused about it but i thought well i'm gonna go ahead and make him an offer anyway so i did uh i wanted it to be right around 28 000. uh so i offered him 30 uh i think in uh thinking that would i'm sorry i wanted it at 30. i offered him 28 in hopes that he would come to 30. so uh he he didn't take my offer of 28 he said get back with me and then we would go follow up in a couple days well i wanted to come back anyway and double check make sure the property looked looked you know get a good look because it was getting dark on me as you can see uh as i was leaving i took a picture of the electric and so i did i come back a couple days later and then i wanted to take some more uh you know do a little bit more better idea about where the boundaries were so he gave me a survey and he got a picture of that survey that survey was actually it was two two tracks of land one track was seven acres one track was four acres and this right here was the creek well when i come in that night i only went to right here and so this right here from the right here from about this area down is just a drop off it's just a big old canyon down in here so i didn't get to look at the whole whole piece of property but i did i did see enough uh while i was there in the dark to to know i want to come back so when i came back here's what i saw you can go to the next slide a little bit one more that's the road frontage a little bit more better view of the road furnace than what i had originally this is the kind of this is what i saw when i come back and when i found that it was more it was a waterfall one more slide it had a real nice canyon at the bottom with bluffs and that right there pretty much told me how i wanted to pursue this really hard so if you go one more slide i think there's boundaries that that i was looking for that i couldn't find that night uh this is what you call the corner post there's where the four corners of the property come together it's the first time i'd seen anything like that i saw it you know and later on i did a little research and found out what it was about uh so with the waterfalls uh the four corners everything like everything that uh everything taken into consideration i called the seller back and he said well he said we can't do the 28 but we can do the 30 which is exactly where i want wanted to be to begin with he said i'll do it for thirty thousand uh my contingencies were uh part uh soil analysis and then i wanted to be able to double check make sure that it would uh i wouldn't have any issues as far as let's see here so the standards i wanted to announce this test and i wanted to make sure that all the utilities were the water was available and that sort of thing so that's what we did i purchased the property and we went ahead with the sale i listed the property on facebook marketplace i bought it for thirty thousand sold it for eighty nine nine with a down payment of fifteen hundred the final balance of eighty eight four i listed at 10 o'clock that night and the first people who respond wanted to meet me at eight o'clock the next morning so i met him the next morning first first person that lady people that looked at it they went over there they saw those waterfalls and they just said they wanted to buy it so they did and we signed the deal i got uh got in my truck truck drove out to where i had cell service there was no cell service here all sudden my phone went ding ding ding about 15 people just all over wanting to buy this piece of property because they saw those same same pictures i had one one message came to me said my wife's over here crying and i'm upset and i really want to come see this property so please get back with me as soon as possible so that was my first good deal [Applause] so just a step back from what we got out of both of these uh answers you know you heard brother fraley and brother zimmerman they both referenced somebody who helped them get started brother martin and then a whole new generation that brother fraley mentioned hey if you're wondering should i do this or not one reason why this is such a good opportunity for all of us here is that there's so many people who have done it and the bible says that in a multitude of counselors there is what there's safety hey when you talk to him they'll tell you if it's a good deal or a bad deal well look how brother fraley did on this first deal 30 000 and you sold it for 80 89 900. what an awesome story yeah and i was i was going to say too you know my after that's paid in full uh you know my total investment was 31 150. after it's all paid um my total earnings is 233 thousand 513 dollars and 24 cents and the total interest on that was 145 113 so you can see what 30 000 to turn into wow that is unbelievable yeah it's a 30 000 a 30-year loan so one other takeaway from that he was going to look at a different property when he saw that for sale by owner sign right and then that's how he found this deal yeah so just keep in mind you know if you'll just get in the vehicle and drive and look and do a lot of times that's just the way that god blesses effort but you got to get out and you've got to do it some other things that we'll get into they both mentioned a perk test and we'll talk more about that as we go into this so the next question is as we mentioned at the beginning of the class let's assume you found a great track with solid potential brother zimmerman if you'll start this one walk us through how you would write and craft your offer what how how do you come up with your pricing strategy what kind of contingencies do you put into the contract just give us kind of an overview of that whole process well it's kind of based on the these specific property and what i've what i see there but uh a couple of things just to comment on brother tim's what he did uh some things that he did right was he talked to the neighbor and i would highly recommend if you find a piece of property talk to the neighbors there's a piece of property listed on i got a call this week 2 500 an acre for 60 acres right near near uh 40 acres right there near cersei and one of the brothers went out there and talked to the neighbor he said it was under water when it rains so you really got to do that but the contingencies i put in there you know you can put in there just you need 60 days for due diligence i mean just google due diligence and it'll give you a thousand different things you can put in a contract the main thing you want to be able to do is walk away from it if it doesn't fit your needs so what i put in there is you know if i'm going to find that the financing has to be acceptable to buyer it must pass a soil analysis acceptable to buyer city war water available for buyers needs and that's critical it may have city water in front of the property and we we had some property when we first got started that i bought for brother newberry i believe that had city water but it didn't they didn't have enough connections to add any new connections to the city water so one thing that i've done since i i've got started is i will find the city water company and find out which engineering firm that they use and i will call the engineer because the engineer will know if they can add more connections to that water he'll know where the what he'll have all the water plans he knows where it all is and so i would highly recommend that because a lot of these people that work at the water department don't even know what's going on so they hire an engineer to do that so and then i say approval by any municipalities or planning boards and i've tied up land for months based on that one right there um and so you know those are those are the typical ones that i use as far as contingencies you have to know um just a couple of things in in negotiation you never want to act like you like the property when you actually go look at it i never no i tell my wife i said now baby don't act like you don't smile don't act like you even like the property or whatever we're looking at buying so she'll get all the giddy and excited about it uh don't ever do that and if if you see something uh you always want to point out the weaknesses of the property and you just say oh my goodness i'm gonna have to bring water five feet over here to make this work there's no telling what that's gonna cost and and you have to know what the property is worth and the only way you're gonna know what the property's worth is by looking at property so if you're not out looking at property you're not going to know what property's worth and you always want to make your offer contingent upon the due diligence so those are my principles in negotiation uh you know if a property and you know in this market is a little bit different i i just bought 40 acres when we were in california we closed on it and it was like that it's had roads on both sides i'm not gonna have to put in the road it doesn't have city water but i got it for 2100 an acre so deals are still available out there you just got to be looking every day every day and so um that's what i would put in the contract and just to weigh in real quick on soil analysis you know you get a full-blown perc test through the health department but you usually do that on the track of land you're going to buy and build on but what we're talking about i think overall here is that let's say you've got 50 acres that you want to buy and subdivide it into three acre lots you pay a guy who's licensed to go out and dig pits throughout the property and he analyzes the soil and chances are if he tells you it's no good it might still be good because it's really hard to dig enough pits to that property but if he says that looks good well then that's a clear go-ahead if he says it looks bad sometimes i just get another opinion i have backed out of deals that someone else bought and did great with and i backed out of it because somebody said it wouldn't perk so sometimes it even it even pays to get a second opinion but that's what we're talking about with soil analysis perk testing is there anything to add to that that would be helpful on the the perk test soil analysis well i agree wholeheartedly with that i had a development in uh outside of cersei and i had a guy that had just a little teeny backhoe and he was hitting rock and i knew it was just field stone but he said it wouldn't perk so i got a guy with a bigger track hole we dug holes and it and it it perked and it was a great development so you can't listen to the first first guy um but anyway perking is is critical now just so you know and i'm i haven't been listening to the classes so i don't know that's been covered but in arkansas if you have 10 acres or more you don't have to have a perk test and also the law around if it's if it's if you're if your property is within 300 feet of city sewer you have to connect to city sewer you can't put a septic tank in so typically what we're talking about when the due diligence costs about three hundred dollars to get a guy out there with the trackhoe and dig some pits and look around so brother fraley is there anything you can add to that discussion well the only thing i can add is i i don't necessarily look for property under 10 acres i'm looking at 10 and above i did just recently run into a situation where um uh i looked at seven acres and i had the uh had the guy come out and do a soil analysis uh he didn't think it was going to work for me and listening to you say that makes me want to get a second opinion so well and i've done it i backed out of something a year or so later the price had come way down i thought i'm going to get another opinion on that and there was a man y'all probably know his name i don't think he does it anymore he's like he was like 80 something years old at that point and this guy goes out to the property i mean he he climbs down in the pits and he treats it like he's a scientist he looks at that dirt he says yeah it'll work he was from el paso who was that i don't even know i don't think he's still doing it but he used to do several men's projects so i have one guy and if he does it and he says it'll perk i know it's gonna perk but if he tells me no i'm gonna go get another opinion just to make sure because again i don't wanna miss something over over a few hundred dollars that could turn out to be a really good deal so and we can give you those names any kind of information we have we'll share with you on all of this so valuable information who knew what a perk test was or who didn't know anybody not know when we started the class one of the famous landmen told us he did three or four farms way way back before he knew what a perk test was so just by you being here tonight you know what a perk test is and it's it's really important to make sure that that your farm or your property is going to support a septic system all right we'll move on oh and then flood zone though you do want to check make sure it's not in the flood zone as well that's another important thing to look at okay a few other factors that impact the value of land are mineral rights and certain easements can you take a few moments and explain what these are what has the most impact on the attractiveness of a deal brother fraley well my second piece of property i bought well let me go back to my first piece it was 37 acre tract and there were mineral rights uh there were no mineral rights to this piece of property it didn't matter to me whether it did or didn't i honestly don't have a i don't have a uh opinion on that it's not going to be a deal breaker for me whether you get mineral rights to the property or not um a second piece 27 acre had uh had a well on it and i started learning about what what that's all about but uh it's not a big deal for me i'm not gonna turn a piece of property down if they don't let the mineral rights go with it most of the property we bought before 2006 or whatever had mineral rights or at least half the mineral rights and so that was a real blessing to us and i know to a lot of people in the church but we most of what we buy now does not have the mineral rights unless gas gets back up they're not going to be coming back to arkansas there's a lot better place than the fayetteville shell but it could be with biden in the office well the gas will be back up there way up there but i don't really worry about it most of what the damage damages that's been done has been done you know in the in the fayetteville shell this new property i've just bought it's got wells all the way around it so there's no way that we're gonna give me the mineral rights but but one of the other things is easements i think you mentioned is that correct and so that's something you really want to be careful about because there's all kinds of utility easements and you want them to be at the road you don't want them to be driving you know in the middle of your property so if you've got a gas line electric line you know any kind of uh utility easement that's outside of the the road barrier that could prohibit prohibit you from doing what you want to do for example a gas line that's there's one like this 36 inch gas main that goes through one of my subdivisions and i i only built it where i had to build one road over the gas line but that was very expensive they wanted me to build it up about that high over the over the gas line and just a there's a bunch of rules and regulations regarding that so you want to be careful about all that and one thing you can do is call the natural gas company one time we bought a project that has a gas well and a pipeline that runs through it so we just wanted to make sure so we had the gas company man meet us out there and he he said yeah you can do this this and this and he made us feel comfortable about it basically you can't of course build across the gas pipeline but you can cross it and so you can you know if you manage the risk of all that you get all the information you can don't pass a farm because it has a pipeline easement through it check it out if it has a gas well on it check it out it still may be a really good thing just make sure brother biggs will tell you this call before you dig out there and get your customer to call before you dig in fact one good thing to do if you have a gas well or pipeline easement is have them initial on the survey that they know right where it is and then that way if something happens later on you say i showed it to them here's their initials right here and and that's kind of a way to deal with that so most land for sale today is listed in the mls or multiple listing service used by realtors across the state and uh as fraley mentioned his first deal was for sale by owner but more often than not you see these deals that are listed through real estate companies so what is your strategy in working with real estate agents brother zimmerman can you start that one off yeah i would uh real estate agents are important component of what we do i mean they they're in the community they typically know about what's available uh the internet is is gonna replace real estate agents probably in some day because we can look at the listing we can look inside the house we can know where it is we can drive by the real estate agent all they do is put out a sign so you know i use the the internet and typically when i go to realtor.com i'll try to get the realtor's name because if you call just like if you go to realtor.com and call the number they're they're going to send you to a realtor that doesn't know anything about the property it's a realtor that paid to have their phone number and answered when you call so um look at the fine print and see who actually listed it and google their name and get their phone number and they'll know more about the property and plus they'll get both sides of the commission check and so if they if they if if the deal is a if they have to cut their commission they're a lot more a lot more willing to cut their commission than than if you got two realtors on that on that deal so uh what i do is on a case by case i don't necessarily um you know i was telling i guess it was brother zimmerman i had a situation where um i had back fourth of july believe it or not i was up north arkansas looking at a piece of ground and run across the listing and the realtor called the realtor and he uh he said uh he texts me back and he was like well he said i usually don't ever take off but today i did and uh he said but i've got this piece of ground i can show you uh and he asked me what i was looking for i said well anywhere from 10 to 100 acres well he he calls me text me send me a message the next day say hey i got this 500 acres i need you to look at so i said well i guess he didn't hear what i said so i'm going to go just for kicks so i went ahead and went with him and went and looked at it and as we was going to the property we were over my lap i looked over to my left on and there was a great big old four by four sign that said 15 for sale uh no owner financing and they gave a phone number so i'm there again i'm on the way to that 500 acre pizza piece of ground i pick up the phone i call and the the landowner answers and i'm driving down the dirt road and she says yeah she said it's still for sale she said you probably don't want it though because it's in a there's about six families involved and i was like well that was kind of weird you know she had a big sign i thought surely she wanted to sell it so uh so just so happened i told the uh she told me what she wanted for it and my draw my jaw dropped down to my toes i couldn't believe she she didn't want but about 2100 an acre for it is a beautiful piece of piece of property had road frontage on two sides pasture land it was beautiful fenced on uh half of it was fenced in so i went ahead and i said well listen i'll uh let me call you back and i went ahead i'm fixing to go look at a piece of piece of land around the corner from you so i met this realtor first time i ever met him jumped in in his jeep with him we start rolling around i start telling him about this piece of land he said you know what he said i know i know that person he said i grew up in the area and i bet you i know all seven family members too he said i can get this deal done for you well sure enough long story short he did he got it done in in no time and uh i bought the piece of property i went out i was put my signs out and the neighbors come i had one come by and in two different occasions it was like did you just buy this and said yeah i sure did man they've had that thing for sale for years and nobody's ever bought it because it had liens against it and this and that there's families involved i said well that's where my realtor came in he got it done for me so you get the point a good realtor who actually really works really hard can be a great asset and i think it was brother adams that said you know if if the agent didn't bring you the deal if an agent did not bring you the deal go with the list agent and the reason for that is they'll get both sides of the commission so they've got a big interest in trying to make sure that deal goes through now if an if an agent calls you tomorrow and says hey i found this deal and they don't have it listed i would use that agent to write the offer because they brought the deal to me and one cool thing that you can start to do once you get to know a few realtors and you treat them right a lot of times they'll get in the habit of texting or calling you when they've got a deal they're about to list before it ever hits the mls and if you can get a few relationships like that going and treat those people right it turns into a huge benefit so that's a good perspective on dealing with real estate agents now we're running out of time but this question puts a different twist on it when do you offer the asking price or when do you offer full price and do you ever go above full price is there an example of that for both of you brother zimmerman already told us at the beginning he doesn't it's always below price right never never offered more than what anybody's asking not that i can recall i'm sure there's probably i mean if there were a bidding war and you really wanted it yeah maybe uh maybe you would but uh no i'm not gonna get in that so brother fraley full price well that's funny i told somebody tonight uh he was asking about pricing and this and that with with the market being the way it is um i told him i paid full price for a piece of ground but then i got to thinking about it and i really didn't because i had the seller to pay half my closing cost so i'm hanging in there okay so you kind of you can see there's a lot of ways to work the deal now i do there was one time we did we offered a thousand more than the asking price because they got us to thinking somebody else did want it and it was such a good buy that we just couldn't pass it up so um so i think maybe from time to time there will be opportunities like that where you go ahead and do full price especially in this market you know things are selling really quickly in this market so one way to look at is if you have 10 farms to pick from don't offer full price but if you've just got one right now and you know it's a good deal maybe look at full price but again going back to what brother fraley said at the beginning talk to a lot of people about it ask them see what they think okay last question success isn't always knowing when to strike on an opportunity it is also having the foresight and wisdom of knowing when to pull back can you tell us about a time that you had to back out of a deal for some reason brother fraley well i had a 47 acres i was looking at up around floral and i think i just barely beat brother matlock to it but i got up there and i checked it out um and what i what i saw was is i really fell in love with the place um it had a little i don't know i think i've got a picture of the the the road that leads to the back of the property or actually leads to the property and there it is there's another picture kind of basically what that is it's a quarter mile of uh lead easement quote easement leading back to the property and then there's another picture kind of show you give you a better idea what that looks like so this right here is your road frontage this is your the little road i just showed you this here is your it's 40 actually it's 49 acres he told me it's 47 but turns out it's 49 acres uh so i went and looked at it it's a real beautiful piece of property i've got a couple pictures i'd like to show you of it great views um i haven't as as of yet i haven't bought a piece of property over 37 acres yet so i was really wanting this thing to work out uh nice little uh rolled around the perimeter edge of it uh had a lot of pasture land and this was a little bonus uh this little i guess it was more of a homestead house had a lot of great features to it and i was just already trying to figure out what i was going to scrap off of it to repurpose and man i had it all figured out so i had i had the deal worked out and had two the property had two wells on it if you'll go back that was one of them right there quote wells the next one next picture is your other well i never there again i'm new in the business so i'm kind of trying to figure what a well supposed to look like this was not my definition of a whale and neither was the fight after talking about it talking to some of the pros well it it it's suitable so it would work for me all i had to do was get a get a pump put in there and and make it work uh so uh i went ahead and i made an offer on it and my you know based on all the contingencies with with uh utilities and that sort of thing soil analysis went down the list um my the main question i had was was the easement you always hear about easements are not a not a real good thing uh unless you've got it on unless you've got it documented so i went ahead and negotiated the deal we got a deal worked out he couldn't provide me with a an easement on a document so i had my title company they sent some searchers to the local courthouse they searched all the records they couldn't find an easement he swore he had one it wasn't nowhere to be found we called the judge the judge couldn't find one we tried to make it work as i'm like i say is a beautiful piece of ground it was a great great price i tried to make it work i backed out of it just because i didn't there you know the owner or the seller was telling me that there was maybe some little confrontation with some adjoining neighbors that maybe in the future i might have problems out of so as bad as i wanted that brother tim i had to back out it's a smart move yeah if an easement is not recorded you don't want really you don't want the property so it's it really needs to be recorded at the courthouse um the only the biggest disappointment that i had to back out of and i don't know whether seth you were with us in maybe 2007 somewhere around there i found a big piece of property just up the hill from downtown hot springs do you remember that um and we went out there i went out there with the the the guy at with the county the county soil guy and with my soil guy and with the trackhoe and we dug pits all over that place trying just praying that it would that would work it it it just i just couldn't make it work and i would have to make 10 acre lots out of it and it's not worth building roads to put in 10 acre lots so i had to back out of that but it had beautiful views looking it was one mile from downtown hot springs oh my gosh i do remember that i really agree remember but that's the one i can remember a bunch there i actually made an offer on some property when we were in california that i never saw i made an offer it had uh it had national forest on it had a road through the middle of it a highway through the middle and had national forests on all the other sides of it and it was like 15 acres or something like that and uh they weren't harlow wanting anything i sent some guys out there i didn't even know who they were they're just recommended by the realtor they dug pits all over the place and they couldn't get that to perks so i backed out of that so so as you can see sometimes it is it pays to back out of the deal but the biggest takeaway if you can get this tonight is just seek counsel make the effort look at the property and then you know get the deal under contract and then get your advising team together and go look at it show it to them and if you've got the contingencies built into the contract and it doesn't fit what you're looking for you can always back out of it so thank you brother zimmerman thank you brother fraley why don't we give them a round of applause such a great job tonight and we're gonna quickly do the giveaways and then pastor's class will be beginning in just a couple minutes we'll all meet back here next monday night at seven o'clock all right you

Channel: First Pentecostal Church North Little Rock

Views: 295

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Id: 3rQmzDLe-xE

Length: 53min 0sec (3180 seconds)

Published: Mon Oct 04 2021