We All Know Exactly What to Do (CFFL 0169)
We All Know Exactly What to Do
Jack Butala: We All Know Exactly What to Do. 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:
S. Jack Butala for Land Academy. Welcome to our Cash Flow From Land Show. We show you how to buy property for half and resell it the very next day. Great information and instruction from Jack, that’s me …
Jill:
And inspiration from Jill, that’s me.
Jack:
Here’s some funny stuff that happened to us recently.
Jill:
I actually considered renting an apartment above our favorite bar.
Jack:
Oh my God.
Jill:
It popped up-
Jack:
You crack me up with this stuff.
Jill:
I know. It popped up. I was looking for a long term rental.
Jack:
I have no control over my life at all.
Jill:
Here at the beach. I didn’t realize it. I’m like this place looks kind of good. I’m zeroing in on the address and I’m like, oh this is going to be really bad. You can’t do that. Could you [imagine 00:00:43] if we live- who would live above a bar, number one, and number two, that can’t be good if you hang out there. Baby I’ll be downstairs. That’s never going to work. You never make it upstairs.
Jack:
Pretty much plan on going to sleep around three in the morning every morning.
Jill:
Yeah. Right. Then on the weekends, even if you’re trying to get a good night sleep, that’s not going to happen.
Jack:
Our home based office is in Scottsdale Arizona. Our house is there and all that stuff. Jill and I are going back and forth from California to Scottsdale and we’re trying to find a place. It’s pretty funny. This little journey about finding a place in itself, from real estate standpoint, is pretty darn funny.
Jill:
It is. It’s hilarious. You know what it makes me think of too, you and I once a long time ago looked at a place in Old Town Scottsdale, if you remember that. It was a new remodeled building way up high. It was like on the third floor, remember that?
Jack:
Yeah. Mm-hmm (affirmative)
Jill:
We looked at this going, oh how cool would that be? We could live there. Then we realize oh no. Every one of our friends would be on our couch every weekend. We’d never have any- we’re like no that’s not going to work.
Jack:
Right.
Jill:
That’s my funny thing.
Jack:
I’m in the process of buying a fairly large boat. We’re using the same way that we buy property. We’re sending a letter to everybody who owns one and offering way less than even half of what it’s worth. If you don’t know this, every single boat is for sale. The owner may not know it, but it is for sale.
Jill:
Yes.
Jack:
Anyway. I’m not telling our friends about that either.
Jill:
No don’t.
Jack:
I’m going to take a picture of a rotting wooden boat somewhere and say, yeah come on stay on our boat.
Jill:
That’s what we decided we’re going to do.
Jack:
Don’t tell anyone.
Jill:
We’re going to show them a horrible awful picture of this beat up, junky, diesel smelling-
Jack:
Yes. Exactly.
Jill:
They’re going to be like, “No we’re all good. We don’t want to come see you.” [Shew 00:02:29]. Good they won’t see the real boat.
Jack:
In this episode, Jill and I talk about we all know exactly what to do. Jill great show today. Before we start, as always, let’s take a question, post it, by one of our members on successplan.com, our free online community.
Jill:
Okay. Dave wrote this question.
I’m preparing a 1700 property mailer-
Jack:
Yeah Dave.
Jill:
Nice- to Park County Colorado. Per the course I have used LandWatch to find the cheapest properties per average. However, I’ve noticed that there’s a lot of price fluctuation in that county. Any thoughts?
Jack:
Yes.
Jill:
That’s good. Yeah.
Jack:
Turns out I do have a lot of thoughts on that.
Jill:
I’m sure you do.
Jack:
Oh imagine that.
Jill:
Is our show going to be … I’m so [inaudible 00:03:19]. Oh my God. People, you know it’s so funny. I got to interrupt this because people ask us all the time. “What the heck do you guys have to talk about seven days a week?” I’m like, “Have you met Steven?”
Jack:
Yeah. It’s a disease.
Jill:
Jack? What’s your name?
Jack:
I know. We’ll get used to it.
Jill:
Jack.
Jack:
We were in the back of a cab last night, before I answer this question. The girl that was driving the cab, really it was an Uber. She said she’s an actor and her name’s Dahlia. I had to tell the whole black Dahlia story, which she knew and Jill didn’t know. I’m not going to tell that story here. You could Google it if you’d like.
Jill:
Thank you.
Jack:
She said she wants to be an actor. I said we have a show. It was a very interesting back and forth. Oh my God, that’s great. Tell me all about it. [crosstalk 00:04:02] have that affect on people.
Jill:
It was really cute. It was really funny. She was cool.
Jack:
All right. There’s a lot of price fluctuation in that county from a land standpoint. Here’s the thing. This is what’s great about real estate. There’s always huge price fluctuation and here’s why. People are motivated to sell property and buy property for all kinds of different life reasons. If you talk to a contractor and say hey I bought this property for half, he’s going to laugh. He’s going to say, well then something’s wrong with it. I always laugh about that. I seek contractors out to play a joke on them. Contractors price everything because that’s how much it costs. That’s real. It cost material and labor cost them a certain amount.
You can buy a house that costs $100 a foot to build, but you can buy it for $50 a foot 10 years after it’s built just because the person that owns it really wants to sell it bad that day. That’s the business we’re in. That’s what price fluctuations all about. That’s what I love.
Jill:
Exactly.
Jack:
Stock prices never fluctuate. They are what the market says. Next day they might be a little bit lower, they might be a little higher, but market tells you what the price is. Not in real estate. We tell everybody what we’re going to buy it for.
Jill:
Right.
Jack:
Right Jill?
Jill:
Exactly.
Jack:
That kind of leads me into …. The meat of the show is we all know exactly what to do. If you want to have a question or you want to be on the show, call 800-725-8816. That’s a great question and a great lead into this whole thing.
Jill:
Mm-hmm (affirmative) I love it. We do all know exactly what to do. Why don’t we do it?
Jack:
Every time this topic comes up, I talked about it in an REI, real estate investors, group. I always use the example of working out or exercising.
Jill:
That’s true.
Jack:
We all know that it’s really good for us to wake up in the morning and exercise. I don’t know if anyone could debate that, but very few of us do it.
Jill:
We all know it’s not good to drink a bottle of Scotch every night, but a few of us do it. Got you.
Jack:
That’s a better … I’m going to use that next time.
Jill:
Yeah. Mine’s better.
Jack:
It is better than exercising.
Jill:
Yeah.
Jack:
My point is you got to pick and choose. Look, we all know exactly what to do, but we can’t be perfect. If you hear beach noises in the background, that’s because there’s beach noises.
Jill:
That’s right.
Jack:
It’s not us.
Jill:
Exactly. It’s like our, one of those awful sound effects. It’s sounds like a bird’s being attacked.
Jack:
I think it’s a pterodactyl carrying a child away.
Jill:
Exactly. It’s a seagull with I don’t know what he’s got.
Jack:
We all know what to do and we all have different- you got to pick and choose this stuff where you really got to stick to it. For some people, and we all know these kinds of people, working out in the morning, they’ve chosen that. They should be in a Nike commercial. For me, for whatever reason, I just choose to be vigilant about finding property that’s cheap and reselling it. I don’t know.
Jill:
It does something for you. I watch you Steven, you’re a deal junkie.
Jack:
Yeah.
Jill:
You kind of are. Don’t you think?
Jack:
Yeah. I had a business partner, former business partner, tell me one time that, he called me a deal junkie. That’s what they called me in the office. At one point, it used to border on unhealthy. Yeah, that’s- Jill’s tapping her arm like she’s putting a needle in it. That’s what they used to do in the office.
Jill:
Yeah.
Jack:
I’ve calmed down a lot recently, but yeah. Honest to God I get high buying property cheaper than … I don’t get high selling it. I get high buying it.
Jill:
Is that funny?
Jack:
I know what’s going to happen.
Jill:
That’s why because you buy it right.
Jack:
Yeah.
Jill:
That’s the point. That’s exactly it. I’m 100 percent on the same page with you. I am thrilled when I buy, I don’t care when I sell because I know it’s going to price, I know it’s going to sell, someone’s going to scoop it up and they’re going to be thrilled and I’m going to make money. Just knowing I got it at that price and I love the property, it’s great.
Jack:
We have such a mechanized sales process too. It’s really just mechanical. Once we buy it, it goes into our system, our [stav 00:08:18] system and it just sells that day, or the next day or a week or a month. Not necessarily a month, but … I don’t even look.
Jill:
I am constantly surprised by the number of people I come across that are like, they’re frustrated because their property’s not selling [inaudible 00:08:37] it doesn’t matter what kind of property it is. All I ask are two questions. One is how’s it priced, and number two, where are you marketing it? It’s usually one or the other and often it’s both. I usually find it’s both.
Jack:
Yeah.
Jill:
I’m like, Why are you pricing it like that and why are you only advertising it in two places?
Jack:
When people really worry about a topic like that when they start to get involved in stuff like this and they’re saying, gosh what if it doesn’t sell? What if it doesn’t sell? What if it doesn’t sell? They say that over and over again it’s not going to sell.
Jill:
They’re not going to do- they’re not going to put it up there to sell. It’s hilarious.
Jack:
We all know exactly what to do.
Jill:
That ties into what we know what to do. You know what to do. You need to buy it right, you need to price it right, you need to put it out there all over the planet and wait five minutes.
Jack:
If you’re new at this, your first few deals you should be running to the bank saying gosh I hope this guy doesn’t change his mind. If you have a … you’re at the point where you’re educated and you’re looking at deals and there’s three of them and you’re saying, which one of these three should I get? Something’s wrong. If you’re looking at three deals you should be running to the bank saying I’m going to figure out how to get all three of these deals done because they made it this far.
Jill:
All these deals.
Jack:
If you’re out in a community like BiggerPockets or SuccessPlan or any of that asking people, “Hey what do you think about this deal?” That concerns me a lot.
Jill:
Mm-hmm (affirmative) you should be- I love what you say. You should be looking at these three deals and you’re scratching your head because you’re looking at-
Jack:
You can’t believe it.
Jill:
Right. You’re looking at the comps going something’s wrong here.
Jack:
Something’s wrong.
Jill:
This is not right. Then you know you did it right, run to the bank.
Jack:
Yeah.
Jill:
You have your checklist. You know you checked yeah there’s access, yeah there’s this. Okay yeah there’s, whatever property is, yeah it has that. All right. They really want to get rid of this, I’m going to solve their problem today.
Jack:
Yeah. If you do everything that we talk about here at Get There First and Land Academy and the associated entities that we have, what you’ll do is you’re going to pick a place or a physical location where there’s houses or apartments or whatever you want to buy, land, you’re going to correctly identify that. What the hell is that Steve? How do you correct- what’s my name? Jack.
Jill:
Jack.
Jack:
How do you identify the correct area? It’s plastered all over our internet sites and our programs and the whole thing. There’s a correct way to identify markets. Then within those markets you have to identify who the motivated sellers are, what would trigger them to sell, and then get an offer in front of them.
What triggers these guys to sell their property? Number one, first and foremost, we never ever contact people who have a mortgage on their property. That takes out more than half of the headaches in this whole business. That’s got to be worth the price [crosstalk 00:11:39]
Jill:
Will you repeat that again?
Jack:
Jill and I-
Jill:
It’s just such good information. Yeah.
Jack:
Jill and I never contact an owner of any piece of property, ever, unless there’s no mortgage. What’s the numbers on that then? It’s half. 50 percent- approximately- last time I checked it was 55 percent of all single family residences have mortgages, so 45 percent don’t.
That takes out half the- first of all it takes 90 percent of the headaches out because now the people who you’re contacting, they have the freedom to actually accept your offer. If they have a mortgage you’re horsing around with that.
Jill:
Right.
Jack:
Just trust me. It makes it a lot easier. People who don’t have mortgages have a way different mindset. They’ve set themselves up for a lot of reasons, for whatever reason, to not have a mortgage. Maybe they inherited it and don’t care. There’s a lot of reasons, but it works well.
Jill:
Can I?
Jack:
Absolutely.
Jill:
We are in that percentage obviously. We’ve talked about that. It’s one of those things that I think people don’t really know until they-
Jack:
Listen to our show.
Jill:
Until they do some digging and realize wow. Just because you have a mortgage doesn’t mean that everybody has a mortgage. Just because you have those payments and you’re struggling with whatever doesn’t mean everybody is.
I do this a lot with a lot of the people in our community. They’re, “God, who’s going to plop down $18,000 on my cash price?” Watch. They’re there. It’s worth 50 and you bought it for 9. You know what I mean? I’m serious.
Jack:
This is what I heard Jill say on the phone recently to somebody. “Then don’t do it.”
Jill:
Yeah.
Jack:
If you have that many questions …
Jill:
Yeah.
Jack:
I didn’t hear the person on the other end of the phone, but I think what they were saying was, “Well who’s going to do that?” I think they were just drilling her. Then don’t do it.
Jill:
Yeah.
Jack:
Whatever you do, do not send mailers out to people who don’t have mortgages. Don’t do that.
Jill:
Yeah. It’s so funny.
Jack:
It doesn’t work.
Jill:
You know it’s great. You want to do this right- I have done that. I have gotten a little bit different how I communicate with people. We’re just talking about that too. I’m not dancing around this anymore.
Jack:
No.
Jill:
Do you want to do this right or you want to do this wrong?
Jack:
That’s it.
Jill:
Come on.
Jack:
You know exactly what to do. All of us.
Jill:
You do know what to do. Don’t think oh I have to do it this way. No you don’t. Cut to the chase, get there first.
Jack:
Get there first. One of the things that I see all the time, probably 80 percent of the people that join us, I see them … They got some information from somewhere and the information is this, take a specialization and work it. Work the back tax property, work the foreclosure property, work the tax lien property.
Jill:
Commercial properties.
Jack:
I say first of all stop thinking that way, let’s try to undo whatever you learned. Jill and I own a house in Scottsdale and I have never received an offer on it. Have you?
Jill:
No.
Jack:
Have you opened a mail? You know why? We don’t have any back taxes on it, nobody died recently, so it’s off everybody’s radar.
Jill:
Yeah you’re right.
Jack:
Except ours.
Jill:
Exactly.
Jack:
We have no mortgage, we should be getting all kinds of offers. What if you got an offer for $380,000 for that house?
Jill:
You know what? I would consider it.
Jack:
I would call the guy. I’m not joking.
Jill:
I might, I would consider it. You know I might. Exactly. I just thought of something interesting too about our whole new direction that we’re going, which is cut to the chase, this is what we do, get there first, reaching the right people. Get there first has another meaning for me, which is not only get there first on these deals, but hey where do you want to be in life? Get there first. How about that?
Jack:
Oh.
Jill:
Right? Do you want to have your mortgage paid off like we do?
Jack:
[Ohoh 00:15:39]
Jill:
Right? See?
Jack:
I like it Jill.
Jill:
I just came up with that right now. I’m pretty excited about that. There’s another meaning for get there first. Don’t mess around.
Jack:
We all know exactly what to do. We trip ourselves up.
This is the if/then segment of our show. If you do X, then Y will happen. If you know exactly what to do, then set up your source of motivation and those micro daily triggers to initiate that task for the day. What the hell is that?
Jill:
What’s that mean Jack? I’m really confused.
Jack:
Some people have little alarms that triggers them, to keep them on track. They know exactly what to do. Let’s use exercise. Some people wake up have little triggers and alarms or something that makes sure that they accomplish their goal of exercise in the morning. Some people’d stay on track by using companies like Land Academy or listening to our show like this just to keep them motivated on the way to work or on the way home from work.
Whatever those tiny little micro daily triggers are, and some cases they might even be hourly in the beginning to make sure you’re on track, set them up for yourself. When you’re grinding through whatever you’re doing at a regular time during the day, that thing goes off and it triggers you to stay on track.
Does that make sense now?
Jill:
It does. That’s very good. I like that.
Jack:
If you have a question or you want to be on the show, and we would love to have you on the show, call 800-725-8816. Jill do you have some inspiration for us?
Jill:
I do. I was thinking about this topic. It’s so important to align yourself with the right people. My question for you to think about is who do you follow? Steven who do you follow?
Jack:
Who do I follow like on social media?
Jill:
Just any- who inspires you that’s always in the back of your mind. We always have someone in the back of our mind that we’re like, God I want to be more like that.
Jack:
Yeah.
Jill:
Who is it?
Jack:
I am unhealthily addicted to every single word Bill Gates says.
Jill:
Ah. That’s good.
Jack:
Yeah. I saw him on Charlie Rose about a month ago. He’s been on Charlie Rose a million times, the Charlie Rose show.
Jill:
Yeah.
Jack:
The stuff that comes out of his mouth I just am- nothing to do with computers by the way.
Jill:
Right.
Jack:
I am just amazed. Amazed with how brilliant he is … What amazes me about Bill Gates is this guy’s in the top five or ten most wealthy people in the world and he gets up every morning, hits the ground running, trying to feed people in Africa. That’s his big thing. It’s to put systems in place where we can end up with sustainable food for the world population and drinkable water. His big mantra, his one big thing, is making sure everybody has drinkable water in the world.
Jill:
The filters.
Jack:
Not only let’s just talk about it, he’s invested in and building companies to help make that happen. He takes action and takes responsibility. He doesn’t have to do anything. We don’t have to do anything Jill. We don’t have to do this show.
Jill:
No.
Jack:
Bill Gates has been, all through my life, has been a huge inspiration. Not just because of Microsoft or Windows, that’s part of it, but just what he chooses to do with his wife. His wife’s involved in everything.
Jill:
Yeah. Bill and Melinda Gates.
Jack:
Yeah. Their foundation. He said a million times, and I just really respect this, that “By the time she and I die our estate will have zero money.” He believes that the disproportionate wealth gap that’s happening in the world is not healthy, and I do too.
Jill:
I agree. You have one.
Jack:
What’s yours?
Jill:
God that was really good.
Jack:
I have entertainment-
Jill:
I have multiple ones. That’s what I thought-
Jack:
I have entertainment ones like … Go ahead.
Jill:
No, no. I like your perspective and I like that you have zeroed in on one person. Some people, I think, are like you and they zero in on one person and they follow them for whatever reason. We were talking about there’s different people that are … We keep hearing about from our members are popping up in social media and things that are in our, not necessarily in our world, but they’re kind of motivational people. The 10X guy and stuff that are popping up.
Jack:
That guy just got on my radar. I haven’t really listened to anything-
Jill:
I haven’t read anything.
Jack:
His name is Grant Cardone. Some personal friends that I have have been talking about him recently. I haven’t listened to anything. I don’t know.
Jill:
I think, I don’t know if I’m like most people but it seems like, for me, mine changes depending on what I’m going through or what I need at that time. There’s a few staples like Wayne Dyer.
Jack:
Yeah.
Jill:
You know what’s really cool? Even though he’s passed on, somebody is maintaining his social media. I don’t know if it’s his kids or his assistant from before or whatever. They still do Facebook posts and there’s still things that are happening and stuff. I actually still get the Wayne Dyer daily quotes. It’s just, for me now it’s like a hug. It’s a cool thing.
Jack:
Yeah. I think Wayne Dyer really changed that industry.
Jill:
Yeah.
Jack:
That industry is packed full of a bunch of malarkey in my opinion. Some of it’s just really silly, most of it is. I really think he sends a good message.
Jill:
He does. For whatever reason it’s for me. It hits me. My people sometimes change. It depends on what I’m working on. I can’t think of any one … you know what’s interesting? I do like the Huffington Post lady.
Jack:
Yeah. Me too.
Jill:
She’s awesome. I’m trying to think of a one strong business [female 00:21:30]. What I gravitate for and who I follow are either somebody that I really want to be like a strong female business person, like the Huffington Post lady.
Jack:
We should find out what her name is because that’s what we talk about all the time.
Jill:
I know.
Jack:
We see her on interviews and stuff. I can’t retain her name.
Jill:
I know it’s hard. I feel so bad. Then-
Jack:
She wrote a book about why it’s important to get eight hours sleep.
Jill:
Yeah. That was a whole big thing when she had an illness and all.
Jack:
I haven’t read it. I should get that.
Jill:
Yeah. I read that article and everything. Anyway, to wrap it up, that’s my inspiration. Who do you follow? Is it somebody good? Are they inspiring you?
Jack:
Yeah.
Jill:
Does it change?
Jack:
Are they inspiring you?
Jill:
If not, look, you don’t have to stick with the same person by the way. This person you’ve been following and now you’re going in different direction, now this person inspires you. Follow them.
Jack:
You know what? Bill Gates inspires the hell out of me. He always has. I don’t even know why I’m so attracted to what he says, but whatever it is I tend to, I don’t even consciously do it but I tend to follow down that path.
Jill:
Mm-hmm (affirmative)
Jack:
That’s good.
Jill:
Mm-hmm (affirmative) Yeah.
Jack:
Follow somebody. Jill you’re right.
Jill:
There you go.
Jack:
You know what? I love that I don’t even know what you’re going to say on this whole little inspiration segment.
Jill:
Thank you. Thank you.
Jack:
It’s worth waiting for. Hey join us in another episode where Jack and Jill discuss how to use information, that’s me …
Jill:
And inspiration, that’s me.
Jack:
To get just about anything you want.
Jill:
We use it every day to buy property for half of what it’s worth and sell it immediately.
Jack:
Get there first. Good show Jill.
Jill:
It was another long show.
Jack:
You know who else I really follow and I didn’t want to say it?
Jill:
Who’s that?
Jack:
Tim Allen.
Jill:
Oh.
Jack:
Just from an entertainment standpoint. I don’t know. I just think that he’s always been kind of a rogue, not really Hollywood but really successful, doesn’t play by the rules kind of guy. He has a talent to make people, whoever he’s standing on a stage with, make them more important than him. I don’t see a lot of people or actors doing that. They all think it’s about themselves.
Same thing with some of the big directors. The big directors realize that they’re just the movie maker kind of deal maker, put the whole thing together. The writers and the people that are actually doing it like cinematographers and the whole thing, they’re the ones who really matter.
Jill:
Right. It’s not about them.
Jack:
Right.
Jill:
I agree.
Jack:
That’s important in life. It’s not really about you.
Jill:
I think that’s like kind of being a parent too. You want to see your kids succeed. It’s not about you. You don’t want your kid to graduate from that university because it makes you look good, you want them to be successful in life.
Jack:
I explain this to my kid about two years ago. He would’ve been, I don’t know whatever. He’s pretty young. He was young, I don’t remember the exact age. I said that exact thing to him. I’m like, “Dude it’s not about me. It’s about you. I want you to be bigger than I am and stronger than I ever was, and happier and healthier and more prosperous and the whole thing.” He just about fell out of his chair.
Jill:
Mm-hmm (affirmative) that’s it.
Jack:
Isn’t that funny? It’s not about me at all.
Jill:
No. We want you to find your own way.
Jack:
It’s the same thing with our members. This isn’t about me.
Jill:
If you want to be a part of this, I’ll teach you but don’t feel like you have to. Do your thing.
Jack:
Right.
Jill:
Yeah.
Jack:
Who’s your favorite actor or entertainment person?
Jill:
That I follow? I like Sandra Bullock.
Jack:
Yeah.
Jill:
I think she’s kind of cool and I think she’s went her own way, she’s adopted some kids, I think that’s pretty cool. I see her in situations where she’s giving back and I appreciate that, and she’s doing it on her own. She’s pretty strong.
Jack:
She’s got the acting thing figured out too.
Jill:
She does.
Jack:
She produces her own movies now I think. I think that’s the way to go. Control the whole thing and she makes all the money on it too.
Jill:
Mm-hmm (affirmative) I think she’s cool.
Jack:
[crosstalk 00:25:35] cool.
Jill:
If I met her I wouldn’t be star struck, I just kind of would like to shake her hand and talk to her for a few minutes.
Jack:
Yeah.
Jill:
Be kind of cool. I think she’s awesome.
Jack:
Let’s go buy something for half price today and resell it. Jack and Jill, information and inspiration.
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