Seller Called Back on My Offer – 5 Years Later (CFFL 0140)

Seller Called Back on My Offer – 5 Years Later

Jack Butala: Seller Called Back on My Offer – 5 Years Later. 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:
Jack Butala here from Land Academy welcome to our Cash Flow From Land show. In this eight part series Jill and I talk about what to do when sellers call you back because they … They’re returning your calls, what to do when they’re calling back after you send a ton of offers out to see if they want to sell their property. This is episode five of eight. It’s called the seller called you back, but five years later. Five years after you sent the offer out.

Jill DeWit:
Which happens all the time for us by the way.

Jack Butala:
Jill, it’s a great show. Before we start let’s take a question from a caller.

Jill DeWit:
Okay, Mark from Indianapolis asks “Are investors made or born?” I love this … I love this question.

Jack Butala:
It’s hilarious.

Jill DeWit:
Is it either you have it or you don’t have it skill? I think that’s a great question. Steven what do you think?

Jack Butala:
I don’t know. I mean it’s a good hing that we don’t look at these questions before, Jill and I try not look at these questions before we …

Jill DeWit:
Record?

Jack Butala:
Before the show. I don’t know I think we might lose some customers but I think a little bit, it’s probably 20% you’re born with it and maybe 80% you can develop it.

Jill DeWit:
Okay, wait so you’re saying investors are 20% nature, 80% nurture.

Jack Butala:
Yeah, [inaudible 00:01:23] if I thought about it, tomorrow numbers might change but I think there’s a little bit of both that’s what my whole point is.

Jill DeWit:
All right. Which one is more? Is it more …

Jack Butala:
You can learn more. You can develop the skill way more but you still have to have that like … I call it the inferno. You still have to have that inferno in your gut, like that just deep crazy desire to want to make some money on your own.

Jill DeWit:
I get it.

Jack Butala:
… Or just do a deal. You know that Jill, you’re a born deal maker.

Jill DeWit:
I get it. Okay, I’m trying to think about how I want to answer this. There’s … I’m going to go with 50-50 Steven because …

Jack Butala:
Wow!

Jill DeWit:
Yeah, I mean there’s so much of it that you have to have that drive like you said. You got to have the drive and the desire and if you can read people and work with people, there’s so many things that help and … By the way you got to have some [inaudible 00:02:22] I got to say. I’m serious because you might be …

Jack Butala:
A [inaudible 00:02:27] lesson.

Jill DeWit:
Here we go. You got to have some guts to make some of these decisions and act on some of these properties right. Don’t you think?

Jack Butala:
Oh, yeah but you can learn most of it.

Jill DeWit:
That’s … Oh, yeah you can learn a lot of it. I think … Okay, you know what? I’m going to scale back. I’m going to say you an learn more but you still got to have some of that core whatever. I think Mark … I wonder where Mark is on this. I wonder why he’s asking.

Jack Butala:
Well I think that if you’re listening to this show or have any interest in flipping real estate, flipping land and all the other stuff that we do, you’ve already passed that nature test and now it’s just learning.

Jill DeWit:
Yeah.

Jack Butala:
What is the percentage? That don’t matter. It’s a little bit … It’s a slightly you got to have that inferno like I said and then I think it’s really all about developing the skill.

Jill DeWit:
If you’re this far along and you already know that’s what you want to do and what you want to be, you want be an investor whether it’s with a group or for yourself, you’re already there. You don’t need to ask anymore. You just need to go and do it and then …

Jack Butala:
If you’re asking that question you have it.

Jill DeWit:
You have it. You got what you need and then go from there.

Jack Butala:
What about this topic Jill, five years later?

Jill DeWit:
Yes, so …

Jack Butala:
Constantly I’m trying to explain myself to new customers, constantly because [inaudible 00:03:53] that everybody is skeptical and I think you should be. One of the things too that they get skeptical about is … We always say when you send these offers out, they stick it in a file somewhere where usually where they keep their their tax bill or property tax bills and they call back forever. We get calls back from 10 years ago, regularly. This show is all about, what do you do when a seller calls you back and it’s five or eight or ten years later. I know you’re an expert at this show because you take these call daily.

Jill DeWit:
I do. Well, my first note is great, it works. You know what I mean or knowing that it’s really great look how well this is still working. You’re five years later, still getting calls from a mailer you did, how long ago. You know once you’re in … [inaudible 00:04:43] joke about, once you’re in, you’re in. It’s going to keep happening so it’s great. What I … Would you like to comment on that [crosstalk 00:04:54] …

Jack Butala:
No, absolutely.

Jill DeWit:
My next point is the thing about it is who you’re dealing with now. This is what’s so interesting, five years later [inaudible 00:05:06] … Your mailer, your offer it’s stuck with them and after it’s been their file for five years, so you did that right, which I love. Now, are you still dealing with the seller or now did the kids find dad’s file? That happens, it’s five years later dad may have passed on, now it’s the kids that open up the file and boy, there’s a letter on top, you made an offer on this property that the kids may have not even known that it even existed until now and so who are you working with? You got to kind of figure that out.

Jack Butala:
Yeah, there’s a lot of triggers that … There’s a ton of triggers that cause people to sell their property. We’ve developed the skill to send mailers out that are just not mailers and inquiries but they’re really actually offers. The vast majority of people that are going to call you back, they call you within a week from receiving that, the offer, because they’re experiencing one of those triggers. Maybe they need some money, maybe they’re tired of paying the taxes and hopefully you do the [inaudible 00:06:12] right and they’re contacting you because they want to get rid of their property. Sometimes those triggers happen five years later.

The owner passing away or one of the owners passing away is a huge trigger especially if it gets handed down to the kids or whoever the beneficiary or the recipient is [inaudible 00:06:34] and they just don’t have anything to do with some property that’s not even in the same state. When the trigger happens, it can happen years and years later in fact we see it on a daily basis. We see people calling with those triggers. My opinion is that the close-ability of a transaction five to ten years later after the mail has been sent is extremely high for a ton of reasons. They just … If you ever manage an estate, if you had parents pass away you got a laundry list of stuff to do. One of them is sell some of these assets like this and it’s such an easy way to do this. We provide such an easy. I call it the service [inaudible 00:07:17]. Triggers can happen anytime.

Jill DeWit:
You know, you’re right. I love it when you just said that we’re providing a service because so many people look at it like that when they’re calling us back and the fact that … I love that they’re calling us back five years later in fact that “Hey’ we’re still around.” We’re interested in their property. You can just hear the relieve on the other end of the phone like “Oh, thank goodness because I didn’t know what I was going to do with this kind of thing.” You know it’s almost like “Please answer the phone, please answer the phone.” They’re hoping that we’re here and they’re hoping that we still want the property so it’s great. My last point was, the rest is kind of the same as far you handle this.

Jack Butala:
That’s [inaudible 00:08:12] question Jill, I think that’s what kind of the show is all about, what do you do? Do you do anything different? Do you do … I mean, let’s say you send a bunch offers out, let’s say you’ve sent 1,500 offers out and three weeks later you just get a ton of calls back and we talk about that all the time how to [inaudible 00:08:27] those calls, how they’re different from each other. Some are super interested in selling, some just mail it right back in. Well, five years later how do you treat it any differently?

Jill DeWit:
By the way five years later, they still sign it and they send it back in. I had one, it was so just so cool. It was clear a little old lady with beautiful handwriting who signed it and sent in an old mailer back in the mail with like a lick-stamp on it. It was so funny. She put in note in there saying if you’re still interested in my property I promise I will get back to you in a more timely manner. It was the cutest thing. It was really really cool.

The only thing you do different is, in a good way the property might have more developed around it which is great so it might be worth more. The process is pretty much the same just figure who it is but the price may be a little bit different.

Jack Butala:
Yeah, that really the big point to this podcast episode. When they they call back [inaudible 00:09:33] level of interest is extremely high after all those years and for whatever reason they remember your mailer, that just proves to you that we’re sending the right type of offer out. They may or may have not gotten other offers. It’s pretty doubtful, the way I’ve described the data, that they may … They probably got one or two over the years. They’re obviously calling you back for a reason. I’m sure of it because it’s not an offer, it’s an offer, it’s not just some type of interest like a postcard or something like that. This is an incredible opportunity to negotiate a better deal.

Jill DeWit:
Exactly, that’s it.

Jack Butala:
They expect it. They’re wondering “Hey I know …” Almost all of them say too “I know probably things have probably changed a lot. I don’t know, are still willing to pay that price? They tee it up for you.

Jill DeWit:
They do. That’s exactly what I was going to say. They come out and they’re “I know you offered me this back then but I don’t know if it’s going to be anywhere close to that. I kind of understand.” You’re right. They do set it up so you can reevaluate the property and look at the price. The price could be different a little bit. I’ve hard somewhere they price goes different, goes up or down too. It could be worth a little bit more at this point. I’m going to look at it and we’re going to be fair and talk about that. That’s really the difference is the price with the property.

Jack Butala:
Can you believe where we are at right now?

Jill DeWit:
I know.

Jack Butala:
I think we discussed that topic … You know, I think we answered the questions.

Jill DeWit:
I think we did.

Jack Butala:
We covered it.

Jill DeWit:
Well, can I share on that podcast what we’re doing right now?

Jack Butala:
Yeah. I’m going to give the longitudes and the latitudes too. Oh, yes. Sure, absolutely.

Jill DeWit:
Oh, okay.

Jack Butala:
It’s so cool where we are at right now.

Jill DeWit:
You’re going to put the GPS coordinates of where we’re sitting?

Jack Butala:
Not sitting but like the city we’re in and stuff.

Jill DeWit:
Okay, I was going to say … Do the what, three words and Steven knows what that is. That didn’t take off did it?

Jack Butala:
It did for somebody but no, not for you and I.

Jill DeWit:
Oh, okay got it. Okay for our …

Jack Butala:
Just talking about, if you’re looking for something to do for … If you want to waste the next 30 minutes, go on Google and type in what three word, it said “What three words is …” Is a website that that somebody can [inaudible 00:12:02] so they don’t have to use GPS coordinates.

Jill DeWit:
I think it was some guys in England. Wasn’t it?

Jack Butala:
It was, yes.

Jill DeWit:
That’s what I thought.

Jack Butala:
My initial thought was “Hey, this might be cool.” Then I really looked into it and it’s silly.

Jill DeWit:
Yeah. What it is, is they figured out that to have a … Instead of a GPS coordination you can use a combination of three words a get within a … I think it’s a 5 foot radius of where you are. Where we’re sitting right now might be coffee, balloon …

Jack Butala:
Coffee, balloon, Masters Degree.

Jill DeWit:
Right. Something like that. You can put that in three words and they will take you within five feet of that. We thought “This is kind of cool. We can use this for our properties instead of GPS,” but it didn’t seem to really pin out. My thought was too, “Okay, by the time we explain this one to folks, it’s just too much.” We didn’t do that. Anyway I was joking about using three words to tell everybody where we are right now. As Steven is looking up our GPS coordinates right now …

Jack Butala:
I have it. You let me know when you’re ready.

Jill DeWit:
Okay. Steven is going to [inaudible 00:13:09] in just a minute but what I want to say is, we’re actually streaming this live right now via Periscope …

Jack Butala:
It’s new for us.

Jill DeWit:
Right. We tested a few little bit. Gosh! Months ago and then we kind of put it aside and …

Jack Butala:
If you’ve ever wondered what we look like while interrupting each other, this is it. [crosstalk 00:13:36].

Jill DeWit:
Exactly. This is what our show looks like as we’re … This is remote. This is not our normal set up but it’s pretty close.

Jack Butala:
It’s going to get normal.

Jill DeWit:
It’s going to get normal that’s true. Our new normal is going to be constantly moving. This is our new normal so I guess this is normal. We are actually live video streaming on Periscope our show, as we record our show. If you’re listening now to the Cash Flow From Land Show … That wasn’t live obviously but you can go … Go find us on Periscope and it’s going to be there, usually stays for about 24 hours so go Periscope and look up the TheLandAcademy, it’s the same as out Twitter TheLandAcademy and you can see the show that we just recorded.

Jack Butala:
GPS coordinates.

Jill DeWit:
Ready.

Jack Butala:
33, so if you to Google Earth and just type these GPS coordinates, that’s where we’re doing the show from 33.845304. I’m going to say it again 33-845304 and then the next number is -118-395560. That’s how beautiful. We’re in Southern California. Our podcast got pretty, it got and is increasingly popular grossly exceeding what I ever thought it would ever. Now we cannot stop doing it even if we’re on theoretically vacation with the [inaudible 00:15:15] equipment around but you know what in the end it’s not so bad at all.

Jill DeWit:
It’s great.

Jack Butala:
It’ s working out great.

Jill DeWit:
It is. I love it, so cool.

Jack Butala:
What are you doing tonight Jill?

Jill DeWit:
Getting on my bike.

Jack Butala:
Nice. That’s exactly what everyone does here in [inaudible 00:15:33].

Jill DeWit:
Yep. That’s what we do. We got on our bike, we bike everywhere and just have some fun. You get in a lot less trouble that way.

Jack Butala:
That hasn’t helped us through [crosstalk 00:15:45].

Jill DeWit:
We’re going to try it again tonight anyway. We’re very optimistic about it, so yes.

Jack Butala:
Hey, join us in another episode where Jill and I discuss your all important success in property investment and in life. Hey, that actually worked pretty well Jill for the first Periscope episode.

Jill DeWit:
I agree.

Jack Butala:
Is it any different you think just because [crosstalk 00:16:12] in front of a camera?

Jill DeWit:
Not different at all for me.

Jack Butala:
It’s seems a little bit different.

Jill DeWit:
Oh, I seem different?

Jack Butala:
No, no. It just that, it takes a little getting used to, to getting in front of a camera no matter who you’re.

Jill DeWit:
Well, I like this. For people, for if you’re doing the Periscope right now, we do our show is about 10,15,20 minutes each time depending on the topic and then we do little bit aftershow kind of thing. Just somewhere we can kind of really let our guard down and have some fun and just be silly so this is the aftershow part. What? I’m just explaining it.

Jack Butala:
I know. [inaudible 00:16:48] explain the audio blooper. [inaudible 00:16:52] aftershow. Jill and I came up this because we have guests on the show frequently and it’s really fun to talk like behind their back after they hang up.

Jill DeWit:
Exactly. We’ve had some of those where we’ve gone “What the heck was that guy smoking?”

Jack Butala:
People call us and email us and say “Hey you guys need to turn your mics off.”

Jill DeWit:
Right that’s the funniest thing, they’re like “Oops, I think I heard something I shouldn’t hear.” No that was deliberate.

Jack Butala:
On that note, let’s go buy some property.

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