Hit Real Estate Deal Singles Not Home Runs (CFFL 0216)
Hit Real Estate Deal Singles Not Home Runs
Jack Butala: Hit Real Estate Deal Singles Not Home Runs. 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 for Land Academy. Welcome to our Cash Flow for Land Show. In the episode, Jill and I talk about hitting real estate deal singles, not home runs. Cool concept, cool show. Jill, before we get into it, let’s take a question. Hosted by one of our members on successplant.com, our free online community.
Jill DeWit:
Yes. Claire, who I have not read about in a while …
Jack Butala:
I had to put it in there. She’s one of our original five members.
Jill DeWit:
I think, before we even released all this, Claire was reaching out to us saying, “And, and, and. When, when, when.” Yep. Okay. Claire wrote, “Hey all. I have a guy who wants to sell me something in Hudspeth County as part of a deal. Does anyone have any experience here? Hudspeth has a website duh, duh, duh, but all I keep getting is this site cannot be reached. I know west Texas a little notorious for being hard to contact. Does anyone have any recent experience with them? I saw something about the taxes being done through an appraisal district? Anyone have any experience with this county? Has the websites been down for a while? Help Thanks. Claire”
Jack Butala:
Actually, because it’s Claire, I answered her directly in a success plant personally, but I’ll share it with everybody right now. I love West Texas for what we do. You can buy incredibly inexpensive property. Texas itself is a … we don’t think of it this way, or I don’t, as having really good weather but compared to the rest of the country, the rust belt, the northeast, Texas has very good weather. Not good weather, but it doesn’t snow as much. Let’s put it that way. So, there’s that. I think that forty acres in Texas appeals a lot of men for some reason, truck drivers specifically. Which I’ve ever understood, but I’ve had numerous, numerous forty acre properties in west Texas, in this county specifically, that truck drivers love to buy. Maybe it runs right through a freeway, I don’t know.
Jill DeWit:
I’ve had people that just want to be out there and have a place to hunt and camp. There are some places out there, apparently, that you can do that. Maybe the off road or something. You never know.
Jack Butala:
There’s also a theory, Claire, that if a county has an awful website … they’re so rural that they just don’t have the budget for it or it’s not a priority, that the information that’s available is lacking quality. That can be a great place to buy property because they’re just … if you’re having a problem getting on their website and getting information, then boy … and I know you Claire, I know that you’re trying. You’re in there digging it out. A lot of people are stopped long before that and just move on to the next county. Hudspeth is a great county. Like everywhere, you have to make sure that the access is okay, and Texas is a little bit famous for fencing off property that maybe … People fence property off in Texas that maybe they don’t even own.
Jill DeWit:
This road happens to eventually hit my house or my property way back here, so I’m going to put a fence here. That’s true and it’s actually comical. They can’t do that. They can’t withhold you from getting access to your property, but they try. It’s kind of funny.
Jack Butala:
If you wrote the exact same question, or comment, and replaced Texas with South Dakota, I would say no. That’s a bad idea.
Jill DeWit:
Why?
Jack Butala:
Just because it’s not … Unless you’re trying to buy farmland or frack something, I don’t see it as a destination type of … I don’t think anybody’s sitting around saying, “Man, I was to move to South Dakota.” Except for the job part.
Jill DeWit:
Right.
Jack Butala:
I think there’s a lot of people saying Arizona, yes. California, yes. Texas, yes. That kind of thing.
Jill DeWit:
Anything West Coast. Got it. I agree. I have heard that too and I kind of .. For me, it’s kind of a challenge. It’s funny. I’ve had some West Texas properties that you and I have owned that I’ve had to really do my homework. I found a phone number to the sheriff, and the sheriff put me in touch with the so and so, and the so and so put me in touch with the other person. Then, it’s so funny, by the time I’m like, “Well, Betty the recorder is on vacation. She works Tuesday and Thursday afternoons. It’s that kind of a thing. She’ll be back in a week.” This is hilarious.
Jack Butala:
That’s probably why people want to move there.
Jill DeWit:
I think you may be right.
Jack Butala:
There’s nothing wrong with that lifestyle.
Jill DeWit:
Talk about relaxed. Nobody’s going to bug you. Good luck finding someone. They’re not going to bug you at all. I think that’s part of the attraction also.
Jack Butala:
Hey, if you want to be on the show or if you have question, call 800-725-8816. Today’s topic is try to hit real estate deal singles, not home runs. This is the meat of the show. I run into this a lot. Jill, I’m sure that you do too, with [inaudible 00:05:09] members and people who are relatively new in real estate investment. It’s the same concept in baseball, or anything else really. If you really try to hit the home run, you’re swinging as hard as you can on every … it’s just not going to work. You might hit one once in a while. Home runs happen on accident. You ever talk to any baseball player, you can see it in their eyes. They’re shocked that to went out. They’re trying to hit a single, almost all the time. They pop it out and they’re just as surprised as everybody else is. That’s really how it happens in real life.
In REI, Jill and I hit a home run. I’m going to guess, Jill, if you average it all out, probably once a year where somebody just … maybe twice a year.
Jill DeWit:
Yeah, the more you get into it, the more frequently it comes, which is nice.
Jack Butala:
The last one was somebody called and said, “My dad passed away and he bought some property from you, and he always spoke highly of you. We want to sell you his whole collection for nothing.” Would not sell it at all, just please deed it over.
Another time we purchased several thousand properties for almost next to nothing.; It happens, but we weren’t there thinking that was going to happen.
Jill DeWit:
Mm-hmm (affirmative).
Jack Butala:
I wasn’t sitting around waiting for somebody to call. It happened because we’re trying to hit singles the whole time. We’re sending a ton of mail out. Sending a ton of mail out, and one of the people that called back happened to be this person.
Jill DeWit:
Exactly.
Jack Butala:
I could go on for hours with stories like this. You get a lot of mail out … Here’s another one. Here’s another one I actually gave it to the staff. A woman sent a letter in … twenty acres, I don’t remember where it was. It doesn’t matter. … and said, “I’m old and just don’t care about this property anymore. Will you please … I would just like someone to handle the paperwork for me.” I’m happy to do it. So, we gave it to one of the staff members, whose been killing it recently. She was in tears.
Jill DeWit:
It’s so cute. She sent in … I love this one. This little old lady sent in her original deed. Here you go. It was really cute. All kinds of stuff.
Jack Butala:
For us, that’s not a home run, but for our staff member, that’s home run. That might even be her first deal. Everybody remembers their first deal.
Jill DeWit:
Yeah. Her very, very first all by herself.
Jack Butala:
Right.
Jill DeWit:
Exactly.
Jack Butala:
My point is this: get the machine moving; send a ton of mail out, as much as you can; and play up for those singles and doubles and the home runs will follow like you can’t believe. The more mail you get out there, the more chance of a home run happening.
Jill DeWit:
That’s good.
Jack Butala:
This is a Technical Two Two minutes of property and investment advice from our fifteen year, fifteen thousand deal experience. It’s amazing, Jill, that these Technical Twos tie right into the topic of the day.
Jill DeWit:
Isn’t that funny?
Jack Butala:
We can even call it Technical Two: The Takeaway too.
Jill DeWit:
We could. I kind of like that.
Jack Butala:
The Takeaway Two of the Technical Two. We could call it both.
Jill DeWit:
I like the Takeaway Two.
Jack Butala:
The Takeaway Two Minutes. What I want you to takeaway from this show is to try to hit singles. Don’t only try to his singles, buy properties for five, six hundred bucks, sell them for two grand. All day. All day long. Accumulate a ton of money, someone going to call you and say, “Take it all. I’m done.” That works both ways. Here’s all my property, I’m done with it. Buy it all. Or, I would like to buy all your property. That happens probably once every year, maybe every two years. Someone calls and says,”I want to buy every single property you have for a negotiated amount.” That’s the Takeaway Two. Hit singles, the home runs will happen automatically.
That was probably two minutes.
Jill DeWit:
Pretty close.
Jack Butala:
If you have a question, or you want to be on the show, call 800-725-8816. Jill inspire us.
Jill DeWit:
Are you using all of your available resources? It’s not cheating. What I mean by this is … Do you have some connections that you’re not tapping into? Do you have some resources … Do you maybe have the inside track on something? Not illegally, I’m saying legally.
Jack Butala:
This is real philosophy. I love this.
Jill DeWit:
Thank you.
Jack Butala:
This is inspiring even for me.
Jill DeWit:
I want to make sure you are using all your available resources. Some folks think, “But this isn’t the right way to do this. I need to go through A, B, and C to get to whatever.” No, you don’t. Knock it off. It’s not cheating. I think that if you don’t use all your available resources, that’s the wrong way. You’re not … There’s a reason why you know x.
Jack Butala:
You just made me run through my head, about how I’m probably not … there are some resources out there that I think I can be using for certain things.
Jill DeWit:
Mm-hmm (affirmative).
Jack Butala:
This is a great … [crosstalk 00:10:21]. This is a top five inspiration.
Jill DeWit:
We did talk about one. There’s a meaning that I’m going to put together tomorrow for us in the morning, a breakfast meeting with someone who just became the VP in a good lending situation that will have some information that might help us for another project. They have the knowledge and they’re a friend of ours.
Jack Butala:
We’ve known this guy forever.
Jill DeWit:
Right. This is the stuff I’m talking about. If you don’t use your friends and your people and your network and your resources, you’re a ding dong.
Jack Butala:
That’s what success plant is.
Jill DeWit:
Yeah.
Jack Butala:
I think. Every time I go on to Success Plant, there are a lot of people on there.
Jill DeWit:
Good point.
Jack Butala:
There’s new people everyday signing up. It’s free. I still don’t think it gets used … It gets used a lot, but it doesn’t get used the way it really could get used.
Jill DeWit:
Exactly. I do see some people doing that, and they’ll say, “Hey everyone. I just created this … This is my first listing. What do you think?” , and everybody will weigh in on it. That’s a perfect example, Jack. You’re an idiot if you don’t use that. It was so cool. I remember one, it was a couple weeks ago. He said, “Hey everybody. Can you guys just eyeball this. What do you think?” There were a few little things, and then one person piped in like, “By the way, you forgot your contact information.”, which was really funny. The guy’s like, “Oh my gosh. I didn’t put my phone number or my email on there. I might need to do that so people can call me if they want to buy it.” Little things like that. Yeah, use your resources.
Jack Butala:
Jill, that was a brilliant episode. Think about this. Think about what Data Doorstep is really capable of. If you scrub the data properly, really spend some time in there. It doesn’t cost any more or less to spend four thousand hours than four hours, it’s a subscription based thing. Get in there and look at all that assessor data, and get creative and figure out how you can really use it. We mentioned it on our other show, on a show a couple of days ago.
Jill DeWit:
Mm-hmm (affirmative).
Jack Butala:
Buy apartment buildings. It’s right in there. Dream it up. That’s endless. It’s assessor data.
Jill DeWit:
Yep.
Jack Butala:
It’s endless.
Jill DeWit:
I’ll tell you right now. Anyone listening who wants to see the search criteria of what is all available on Data Doorstep, it is coming very soon. You will fall over when you the search criteria listed of every last little thing that you can put in there and source for, and that ties into a [crosstalk 00:12:51].
Jack Butala:
Yeah. You can dream it up, you can sort for all two acre properties that are zoned industrial in any given zip code. You can dream up any sort.
Jill DeWit:
Exactly.
Jack Butala:
All the properties with no mortgages.
Jill DeWit:
Exactly.
Jack Butala:
It’s endless.
Jill DeWit:
It is. Love it.
Jack Butala:
Jill, we could talk all day about that.
Jill DeWit:
We could.
Jack Butala:
Join us in another episode when Jack and Jill discuss how to use information, that’s me.
Jill DeWit:
And inspiration, that’s me.
Jack Butala:
… to get just about anything you want.
Jill DeWit:
We use it everyday to buy property for half of what it’s worth and sell immediately.
Jack Butala:
Send a lot of mail out, and get there first. Good show, Jill.
Jill DeWit:
Thanks.
Jack Butala:
That’s top five inspirational topic ever.
Jill DeWit:
Aww. Thank you.
Jack Butala:
We never use … Nobody, I don’t care who you are, you’re not utilizing your resources.
Jill DeWit:
Exactly.
Jack Butala:
It just takes a … You know what, it takes a different way to think about it. Like our lender buddy, we just thought of him in a different capacity. Now we’ll probably put something together with him.
Jill DeWit:
Look about our office space thing that we did, too. We did that smart. We reached out to all of our friends and some that owned all kinds of different types of properties …
Jack Butala:
Building owners and stuff, yeah.
Jill DeWit:
… in the area that we wanted to be. It was really kind of nice because we had a lot of people just come up to us and say, “You can have this, you can have that.” It’s like next to a retail store, which is really nice.
Jack Butala:
We had a lot to choose from and it’s a perfect example.
Jill DeWit:
It is.
Jack Butala:
Utilizing resources. People that we know for way different reasons were asking if I need any space. One guy specifically has a half ranch in the back of his yard in urban Scottsdale. All kids ride their horses all the time.
Jill DeWit:
Yep. Exactly. Totally.
Jack Butala:
Jack and Jill, information and inspiration. You know what I’m going to say next. Let’s go buy some property.
If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.
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.
