What to Tell your Wife about Your New Land Idea (CFFL 0055)
Jack Butala: What to Tell your Wife about Your New Land Idea. Every single month we give away a property for free. It’s super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don’t even have to read it. Thanks for listening.
Jack Butala: Hey, this is Jack Butala for Land Academy. Welcome to our Cash Flow From Land Show. In this episode, Jill and I talk about braking the idea of real estate investment to your spouse. Always a touchy subject.
We decided to do this show, because we have so many new members, after they sign up, they talk about this topic right when they’re first starting out. Jill, you remember that. Welcome Jill.
Jill DeWit: Hello. Thank you.
Jack Butala: You remember that we now have as one of our more successful members.
Jill DeWit: Yes, very successful.
Jack Butala: The whole thing that he had to go through with buying and selling a property in the same day to turn $500 or $600 just to show his wife that this is possible, that people actually want to buy this product type.
Jill DeWit: Totally. It was so funny too.
Jack Butala: Am I remembering that right?
Jill DeWit: Yeah, you’re right. I think it kind of killed him, because he knew he could hang onto it and make more profit, but he had to just kind of prove it to her with one, and she said, “Okay, I’m in,” and that was it.
Jack Butala: I kind of envisioned this show like you’re going to help us all, because I’m sure that you have some great advice for spouses.
Jill DeWit: I do. I deal with this often. What was funny was when we were talking about this topic, I thought you were going to talk about the guy who did the whole PowerPoint presentation, which I thought was hilarious too.
Jack Butala: That didn’t get to me. Tell us the story.
Jill DeWit: One of our members said that he prepared a whole PowerPoint presentation for his wife about the whole business model and buying land and selling land and what it could do. I don’t know how far the PowerPoint presentation went. I don’t know if it showed him in a big house or anything fancy, but that’s what he did, and then she got it and there you go.
Jack Butala: Maybe we should do a PowerPoint presentation and make it available so if somebody’s thinking about doing this, they can present it to their spouse. I don’t think it’s just wives. It’s probably husbands too.
Jill DeWit: Right. If your significant other is on the fence, click here.
Jack Butala: Yeah.
Jill DeWit: Watch this.
Jack Butala: This is how it works. What would the slide be? The first slide would be Eeyore kind of hanging his head.
Jill DeWit: I was just thinking the same thing. Somebody moping around like, “There’s got to be a better way.”
Jack Butala: “I don’t make enough money. I really wish I made more money.”
Jill DeWit: “There’s got to be something. I really don’t want to drive in the car to this place anymore.”
Jack Butala: Then you just buy a piece of property and it’s super cheap and then you sell it for more, and you deposit the money. That’s the whole presentation right there.
Jill DeWit: You buy it and it’s like, I see it as animated. There’s someone that’s like, ahhhhh, and it’s all lit up, this piece of shiny property.
Jack Butala: Then before that even, Eeyore sends out a bunch of mailers and he’s just all moping around like, “This isn’t going to work.”
Jill DeWit: Owl is flying and delivering them for Eeyore.
Jack Butala: “This isn’t going to work. We’re going to send all this stuff out, and nobody’s going to call me.”
Jill DeWit: “No one’s going to want this. Why would they buy this?”
Jack Butala: Then the sun rises the next morning and the phone’s ringing off the hook.
Jill DeWit: He has all these voice mails and emails and messages, and he can’t keep up. Then he has to call in Tigger to handle the workload.
Jack Butala: Yeah. What is it with Winnie the Pooh? This isn’t the first time that we’ve done this example.
Jill DeWit: I don’t know why. You mentioned Eeyore, and so that’s how we got here. Yeah, so then the animation, there’s a slide where he’s got the property, he bought it for a smoking deal. Now he’s out there hammering a for sale sign in it, and then there’s all these drive by’s and then it shows the end user handing him over money.
Jack Butala: Yeah, bags of money.
Jill DeWit: You see our guy walking away with cash in his hand with a big smile on his face, and then you see the end user standing there just loving their land with a huge smile on their face and moving their cabin on there, or whatever it is. That’s how I see the PowerPoint.
Jack Butala: Half the battle that we have, it’s not a battle, but half of the convincing that goes on with new members is not, does it really work or are you guys good at this, it’s undoing the negative messages that people get from late night television crazy people jumping up and down like a monkey on a desk about real estate investment.
Jill DeWit: Right.
Jack Butala: Undoing that negative connotation that it’s got.
Jill DeWit: True. You’re right. A lot of people have done, or thought about, or heard horror stories flipping homes and they have a negative thinking that, “Oh, I got to do something to it to make it valuable now or worth more,” and all they hear are the horror stories of all the things that have gone wrong.
Jack Butala: If your spouse is just giving you the business about investing in land, this is what I want you to do. Go onto Success Plant, log on there and ask all the members, SuccessPlant.com is our little online community where all the people who are successfully doing this or have questions, whether they’re new in the business or very seasoned, it’s an online community where you can ask questions, so I always say if someone’s on the fence and it gets to me, I always ask them to go straight onto Success Plant and say, “I’m super skeptical about this. Can you please pipe in and let me know that this is for real? Is anybody actually doing deals?” You’re going to be amazed.
Jill DeWit: Right. Just a few minutes of playing around, which is currently free by the way, SuccessPlant.com. You could just be a fly on the wall and get an account and just kind of see all the deals that people are doing on Success Plant too. That will tell you right there. It really is a great … That was the thing, I’d say, “Listen to our show and watch what our members are doing, and that’s where you see it is in Success Plant.” Great advice.
Jack Butala: You have a ton of sales history. I think that you think of things … I think of things from an accounting standpoint all the time, and engineering kind of, and I think that you think of things sometimes from the sales pitch standpoint. Neither one’s right or wrong or bad, it’s just our personalities. Do you ever have to really convince somebody in your life that some stuff you wanted to do and you’re staring across the kitchen table going …
Jill DeWit: Yeah. I have to convince you sometimes some things too.
Jack Butala: Like what?
Jill DeWit: We should leave town. I don’t know. I’m just kidding. I’m joking.
Jack Butala: I’m serious. Make an example.
Jill DeWit: Oh gosh. You caught me off guard here.
Jack Butala: I really want my car to work right.
Jill DeWit: Oh my goodness. No, let’s not go there with the car.
Jack Butala: I want to keep my Porsche.
Jill DeWit: No, I’m over that.
Jack Butala: Oh good.
Jill DeWit: I am over it.
Jack Butala: All right, good.
Jill DeWit: Yeah. Been there done that. Now I will be one of the proud former Porsche owners, happily driving something else. That’s coming.
Jack Butala: Everybody’s got to go through that.
Jill DeWit: You kind of do. I love it, I hate it.
Jack Butala: I’m not boasting, but this is Porsche number six for me. I’m not boasting in any way, and it’s probably the last one.
Jill DeWit: Okay.
Jack Butala: They’re super fun to drive and you actually get your money back out of them almost always, so the money piece is awesome, but there’s a lot of maintenance.
Jill DeWit: Yeah. It stopped being fun. That’s okay. Now, I will always have a convertible. That’s not going to go away.
Jack Butala: The top goes down on a Chevy and it goes down on a Toyota. There’s lots of different brands of cars where the top goes down, and you actually push a button and it actually goes down.
Jill DeWit: You’re like, “It really works? Like every time?”
Jack Butala: Yeah, almost every time.
Jill DeWit: Really? It doesn’t get stuck in that halfway point? Remember that time I had to do that? I had to drive it to the shop and it was stuck halfway up, halfway down. How funny is that? There’s Jill cruising down Scottsdale road with her convertible top stuck.
Jack Butala: Yeah.
Jill DeWit: Oh my gosh. My best advice on this topic, if you’re trying to convince your significant other, we always say wife, but it might be husband, because we have a number of female successful Land Academy members as well Steven.
Jack Butala: I know.
Jill DeWit: Thank you. Number two, test it and start small. Those are my things, because you can easily get involved with very little money just from our eBook, doing a Craigslist exercise.
Jack Butala: Have your wife call Jill.
Jill DeWit: We could do that too, schedule a call with me.
Jack Butala: Have you ever done that?
Jill DeWit: Heck yeah.
Jack Butala: Like, “Can you please talk to me wife because she isn’t buying into this at all?”
Jill DeWit: Absolutely.
Jack Butala: You have done that?
Jill DeWit: Oh, goodness yes. Sometimes it just, even some of our current members, it does sound too good to be true sometimes, and I get that. I know I have a lot of members that, gosh right before they pulled the trigger, they just wanted to schedule a call with me and ask just two little questions and just make sure it’s real and we’re real and all of that, and then that’s it. Then okay, I get it, and they’re off and running.
Jack Butala: Right. I see after the first transaction is done with a new member, there’s lots of different ways they handle it. One of the ones that I see is, “Oh my gosh. It really is like this” You buy it for $500, you sell it for $1,500 really fast, you deposit the $1,500, and so then you’re standing there and looking in the mirror going, “Well what am I going to do about this now, because I have a few choices. I can just kill it.” That’s what happened to me. I doubled my money. I talk about it in the eBook. I said that I’m going to devote my life to this, because if it’s that easy and that’s how it goes, and it’s that secure, because you’re buying land, then I’m going to do this 14 times a day, and that’s ultimately what happened. We have several members that do it.
Then we have a different kind of slot of members or group of members that, “Oh, you know I really just want to make $1,500 more a month just to pay my mortgage.” Then we have some people that look at it, very few people actually, that say, “You know, maybe not. That’s not what I thought.”
Jill DeWit: You know what’s funny? I don’t see that at all.
Jack Butala: I don’t either. I mean, I’m just making it up. I really don’t see any. No one’s ever come back and said, “No, this is too much work.”
Jill DeWit: “I worked six hours and I made $4,000. I don’t know about this.” No, what I see-
Jack Butala: I had to put it in there just to make it sound real.
Jill DeWit: Yeah, whatever. That’s not true. What I see is two things, and one I really appreciate. I see a lot of our members doing a whole lot of homework on the front end, and I appreciate that. Testing this, reading up on it, making sure this is what they want to get into, and I really appreciate that. The other thing is I caution them when we do our weekly ambition call with our members, is don’t get greedy everyone. You got to be careful because it’s really tempting to go, “Oh, I’m going to quit my job tomorrow. I just did that. Why wouldn’t I quit?” You have to remind everyone, slow down, let’s be slow and methodical about this. The time will come if that’s the life you want. That’s what we do.
Jack Butala: We’ve had whole shows, multiple shows on that topic, when is time to actually pull the trigger on quitting your job? I don’t think, if you want to quit your job, I just don’t think that’s … I think that’s a huge distraction. That concept is not the right reason to get involved in this. While I think-
Jill DeWit: What?
Jack Butala: I understand the motivation, but I just think, let’s get the first deal done first-
Jill DeWit: Yeah, I’m talking months down the road.
Jack Butala: Lots of planning.
Jill DeWit: That’s the way I did it. When you are juggling them both, and now it’s ridiculous. You’re not getting any sleep, you’re losing money on your deals because you have a day job too, and you’ve been doing it for months and months, maybe years, it depends on what your pace has been, and you’ve got a track record of X amount, then it makes sense.
Jack Butala: If you’re sitting around saying, “If I didn’t have to go to this job today, I probably could make a ton of money, because I know exactly where to find property. I know how to sell it, I know how to buy it, and I don’t have a hell of a lot of questions left that it’s just now I have to go to this job and it’s distracting me and it’s getting in the way of me making money on this other thing over here. I could actually make three or four grand over here on this,” that’s when you quit your job.
Jill DeWit: For me too.
Jack Butala: That’s when I quit my job.
Jill DeWit: You’re using every break and every lunch hour to quickly get caught up on this stuff, because this is the real good stuff, then you’re like, all right knock it off.
Jack Butala: Right.
Jill DeWit: I wouldn’t tell your wife that right up front.
Jack Butala: Thank you for bringing it back.
Jill DeWit: I wouldn’t say, “Hey baby, this is what’s coming, but-”
Jack Butala: “I’m going to quit my job.” Every spouse wants to hear that.
Jill DeWit: You know though, it’s not a crazy-
Jack Butala: Just joking.
Jill DeWit: What the heck? That’s funny. It’s good to have them … Oh, here’s my big thing though, and you’ve heard me say this often Steven, that if your significant other is not on board, that typically won’t work then. Don’t think that because, “Oh, I’m just going to change her mind down the road,” be careful. You want to have them onboard and in agreement and supportive of you because if they are it sure makes it easier, and it’s true I will talk to spouses. If your spouse wanted to talk to me, that’s great.
Jack Butala: That’s good advice. Just get everybody on board, support it all.
Jill DeWit: I’ve asked that. Sometimes I don’t always think of it, but there’s times when I’m talking to members and I’ll say, “All right, hey you’re about to pull the trigger here. What does your wife think?” It’s really good to get everybody thinking about that.
Jack Butala: Did you ever get fired from a job and have to come home and explain it to everybody?
Jill DeWit: No.
If you have any questions or comments, please feel free to email me directly at steve@LandAcademy.com.
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on iTunes.