REI Career Investing at the Right Time in Your Life (CFFL 0217)
REI Career Investing at the Right Time in Your Life
Jack Butala: REI Career Investing at the Right Time in Your Life. 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 with Jill DeWitt.
Jill DeWit:
Hi.
Jack Butala:
Welcome to our show. In this episode, Jill and I talk about REI career investing at the right time in your life. Jill, great show today. Before we get started, let’s take a question that was posted by one of our members on successplan.com, our free online community.
Jill DeWit:
Awesome. Okay, Brock wrote, “Hey guys, so I have a deal that is complicated by an out of state probate.” Oh gosh, been there. “Jack and Jill recommended that I just hand it over to the title company to close, and I thought that was a great suggestion, so I called one, and got the run around. They’re saying they can’t help with the deal until the seller demonstrates that they own the property by recording proper paperwork with the county. That’s the exact reason I need help from the title company. I don’t know how to navigate and get this done. Is this going to be my experience with every title company? What value do they actually add to the deal if they can’t get the correct documentation on the books? I’m stuck. Can someone just give me some more steps about that? Signed purchase agreement, basically, what do I need to do?” Jack, he’s right, it’s funny.
Jack Butala:
You’re way more qualified to answer this question, actually. We’re both qualified, but what do you do when there’s a tough title situation?
Jill DeWit:
Call a different title company. What if it’s not the right person for that. Brock’s on the right path. The whole thing is, that’s why I bring in the title company when I have these situations where maybe there’s some extra paperwork that needs to be filed, or I have to prove that someone passed on, and all that good stuff. That’s what they’re there for, making sure that the title is correct, and everything like that. There is a small chance that he has to get to an attorney involved. This might be one of those that there maybe an attorney in probate involved before it gets to the title company, and that does happen. The title company should nicely help them out and say that.
Jack Butala:
The title company is here to help you, but you have to help them too. There’s this notion, and it’s been this way in real estate for as long as I can remember, and it’s rooted in real estate agents. I’m not knocking at real estate agents at all, but I’ve seen a lot of people just slap down a file folder on a title agent’s desk, and tell them to close the deal. I just don’t think that’s the way it should go. Title agents are some of the most underpaid, undervalued group, as a group in real estate. They really can do a great job for you, but you have to help them if they need some paper work, and they need to help to collect stuff, I say help them.
Jill DeWit:
You’re right, and that’s the thing. Basically you’re bringing the title agent in, and you guys are a team. You need to be part of that team, because they may have some questions about the deal. You want to be really involved in this by the way, speaking from experience, because you need to see this deal all the way through to make sure nothing does go sideways, and nothing happens. There’s times that they reach out to the seller, and then the seller maybe not answering the phone, maybe not emails, and it may take a week or two, because this title agent has a lot of deals on their desk, a lot of things they’re doing.
For them to get to you and say, hey, I don’t know where your seller is. I’ve been trying to contact them. This is one of the reasons you need to be really involved, and check in with them, because then you will pick up and call the seller. I’ve done that, and make sure everybody’s on board, and on track, and get everybody talking too. That’s like you said Jack, help them.
Jack Butala:
There’s two ways to look at titles and I’m actually writing down, we’re going to do a whole show on this, because it’s really important. There’s two types of title agents that you want to work with. If you’re doing a lot of deals, and you’re closing a lot of larger deals with a title company all the time, what you want to do is align yourself with a single title agent who you know and trust. Maybe it’s even based on a personal relationship. We have one in northern Arizona, in Bullhead City, and she does for us, when we do a lot of title work, even in different states, she’ll call and arrange, she splits the deal. We have a single point of contact on the vast majority of title deals.
I call her, and even if it’s in Nevada, California, or even Michigan, she closes the deal for us. She works with a local title agent to get title insurance. That can reduce a tremendous amount of frustration. It might cost a little bit more, or let’s say, you’re buying a property in Montana and you need a local title agent. You’re going to go through it yourself with the title agent and deal with stuff like this. Either way, it’s important.
Jill DeWit:
Work with them, stay involved. If you think of them as on your team, and you’re constantly in the loop, and be super nice to them. It’s not crazy to send them a little something for getting your deal done.
Jack Butala:
Exactly.
Jill DeWit:
Then you’re deal went to the top of the list, by the way, and they’re you’re best friend.
Jack Butala:
Put them on your Christmas card list, for sure. Keep them in the database. The title relationship that we have, I’m constantly calling our lead title person just with questions about general stuff. A lot of the questions we get in success planning could be answered from title agents. We should get a, wow …
Jill DeWit:
That’s a whole other thing.
Jack Butala:
I’m thinking out loud. We’ll do a whole show on that.
Jill DeWit:
Good question.
Jack Butala:
If you have a question, or you want to be on the show, call 800-725-8816, today’s topic, REI career investing at the right time in your life. This is the meat of the show. Jill, I have to say, women are more qualified to think about and discuss this concept than men, because women choose and plan their life around things like having children, or having a career, and men just splatter it all over the wall. What advice do you have?
Jill DeWit:
The things Jack says. Oh boy. I got to just say real quick, I don’t know if anybody saw this, because it’s worth checking out. I have to pause right here, because this is my life everyone.
Jack Butala:
I don’t mean to put you on the spot.
Jill DeWit:
No, I put you on the spot.
Jack Butala:
Maybe I do.
Jill DeWit:
You know what, this is great. This new marketing guy, and we had a meeting the other day, and the stuff coming out of Jacks mouth, I called it the crap Jack says. I actually said, you know what we’re going to do right now, I did a little Facebook live post, and called it the crap Jack says, because it was hilarious. What’s really fun in this, because you left the meeting Jack at the end of the day. It was just our marketing guy and I, and we had a whole long talk about half joking, half serious, about you and I, and really having someone following us around with a camera. It’s true, the stuff you say, is just hilarious. That was another example of you Jack, just the things that come out, oh my gosh.
Jack Butala:
It’s been this way my whole life.
Jill DeWit:
Splatter it all over the wall.
Jack Butala:
It leaves an image, doesn’t it?
Jill DeWit:
You know what, it’s like man equals crime scene. I don’t know.
Jack Butala:
I mean, is there a right time to start your investment career, your real estate investment career?
Jill DeWit:
Yes and no.
Jack Butala:
I asked, because you came up with this topic, and it is super important. It’s a great topic.
Jill DeWit:
It came from a comment I made the other day about me telling a woman, “Now’s not the right time.”
Jack Butala:
Yes, that’s it. It was a customer thing, or was it LandAcademy?
Jill DeWit:
Yeah.
Jack Butala:
Or LandStay?
Jill DeWit:
It was LandAcademy. She wasn’t looking at buying a property, she was looking at getting in and doing what we do. She sounded like a lot of the other individuals in our world that are stay at home moms with little kids that are doing this. It’s the greatest thing on the planet, because they’re quietly at home during nap time closing deals. Can you imagine as a husband coming home and finding out that your wife, “Hey sweetheart, I just made $5,000 today.” He’d be like, “What the heck?” They could be over here quietly building up a secret bank account. You know that happens.
Jack Butala:
We did a show recently about how to explain this to your wife, remember that? I don’t know if it aired yet, maybe the way to do it is to …
Jill DeWit:
You know what’s funny?
Jack Butala:
… just bring home a check.
Jill DeWit:
Yeah, that’s true. You know what’s really weird about that? If a woman does it, it’s okay. If a guy does it, they get in trouble.
Jack Butala:
Yeah, thank you.
Jill DeWit:
You know what? It’s a total double standard, and you’re right.
Jack Butala:
The crap that Jill says.
Jill DeWit:
Thanks. I have to agree with you, so here’s my woman point on the right time in your life. Yes, you need to have some of your ducks in a row, but don’t wait too long, or you’ll never act. For example, the wrong time in your life is, “Oh, I’m going to take out another credit card to do this.” That’s wrong. “I’m going to wait until I finish decorating this house, and I’m going to wait until I get this setup here. I’m going to wait until I get that promotion. I’m going to wait until I write my first book.” No, no, no, no, no. That’s not the right time, but then you’re kicking the can down the road, to quote you Jack. If you’ve got some real serious things in your life, like money. I mean, that’s a big one. You really can’t scrape together a couple thousand dollars do not do it.
Jack Butala:
Stabilize your environment first, whatever that means to you. Maybe it’s a relationship, maybe it’s money. It could be …
Jill DeWit:
Career.
Jack Butala:
Once it’s all stabilized, and your head’s in the right place, then know yourself out. We have all the tools. We provide all the tools and all the education, you just have to get your own life straight.
Jill DeWit:
I have another thing I would like to share, which is, it could even just be your lifestyle, and your time in your life. I get so mad at reading people that say, “Oh, you can make $100,000.” Seriously, I keep reading this, “2 hours a day, so 14 hours a week, you can make $100,000.” That’s not true everybody. You need to make sure you have time to invest in this, especially when you get started. Your weekends are going to be busy doing research, and figurine this out, and learning. You’ll get to some point.
Jack Butala:
I had 2, deal review calls yesterday. This is not a sales pitch, and I can’t stand those late night, you could make $100,000.
Jill DeWit:
Exactly.
Jack Butala:
I’m going to tell you the truth. I talked to 2 people, they did 2 members. LandAcademy members called me and scheduled a deal review, which they pay for, and they are both each have deals under contract, where they’re going to make in excess of $100,000, per deal. That’s not a sales pitch. That’s the truth. That’s how you make $100,000.
Jill DeWit:
Right, right, but that’s not the norm, and that’s not everybody.
Jack Butala:
It’s not, but the more mail you send out, one of them is going to have $100,000.
Jill DeWit:
Yeah, you know you do stand that chance.
Jack Butala:
You got to send a lot of mail out. These guys each are both brand new. They are inside of a year, in their whole REI career. One guy’s having a 2nd child, and the other guy has a job. He works 80 hours a week at his regular job.
Jill DeWit:
By the way, he’s got a baby on the way.
Jack Butala:
I know, I know.
Jill DeWit:
They have young families.
Jack Butala:
For whatever reason, they thought it was the right time. The first guy doesn’t have a family, but he’s got a high end job, a corporate job.
Jill DeWit:
He does have a baby on the way.
Jack Butala:
The first guy doesn’t.
Jill DeWit:
Yeah he does.
Jack Butala:
Really?
Jill DeWit:
He does, I’m not kidding you. I know this.
Jack Butala:
How do you know this?
Jill DeWit:
Jack, I know these people.
Jack Butala:
Was it on Facebook?
Jill DeWit:
I’m totally serious. I know this stuff. We talk.
Jack Butala:
Both guys?
Jill DeWit:
You know what, because time out. I’m inspiration over here. You’re information. You guys are only talking numbers. I talk about other stuff.
Jack Butala:
I don’t talk about other things …
Jill DeWit:
That’s my point.
Jack Butala:
… except the deals.
Jill DeWit:
That’s why I know this stuff. This is why we’re a team.
Jack Butala:
That cracks me up, man.
Jill DeWit:
I do have a question though.
Jack Butala:
I am amazed that you know stuff like that.
Jill DeWit:
I do know that.
Jack Butala:
I’m proud of you.
Jill DeWit:
Thank you.
Jack Butala:
You know why? I’ll tell you why, because you miss a lot if you’re just doing business, thanks for picking up, filling in all the gaps. I mean, seriously.
Jill DeWit:
Hey, and ditto, vice versa. We need the information and we need the good stuff from you. I would like to ask Jack, how many mailers, can you give me just an idea how many mailers they did to get them to this point.
Jack Butala:
I’m going to tell you the truth, but I am going to say this is not the norm.
Jill DeWit:
Okay.
Jack Butala:
The first guy sent 1,500 out. The second guy sent out 4,500.
Jill DeWit:
Nice. That’s good, but that’s good, it’s not like 100. That’s give you an idea.
Jack Butala:
No you can’t send 100, but usually they have to send 10,000, 20,000 out for that to happen. In both cases, this isn’t the only deal they’re doing. They’re doing a lot of other deals, where they’re just doubling their money. They’re hitting singles on a lot of other stuff. These two properties, and coming right out of your mouth Jill, these two properties are because they asked the question, “Do you have any other real estate?” They’re a direct result of that.
Jill DeWit:
Score, I am so proud.
Jack Butala:
They’re buying $500, 5 acre property in a very rural location, but they said, we just did info a lot like that. It’s all because they asked that question.
Jill DeWit:
Bingo, do you have anything else?
Jack Butala:
Yeah, now that you mention it, yeah I do.
Jill DeWit:
I didn’t think you’d be interested. Well let me know what you got.
Jack Butala:
Did I explain that correctly?
Jill DeWit:
Yes.
Jack Butala:
Whenever someone calls you and say, “Yes, I’m going to sell you this little property that you sent me a letter on.” You always want to work this into the conversation, “Do you have any other property?” “This isn’t that product type. I have a house, that kind of stuff.” Then you end up buying it for half?
Jill DeWit:
May I ask another question?
Jack Butala:
Yes, absolutely.
Jill DeWit:
This is so important, because this keeps coming up, and I’m glad we’re talking about this.
Jack Butala:
It has nothing to do with the title of our show, and I love that, that happened.
Jill DeWit:
Did they target back tax properties?
Jack Butala:
No.
Jill DeWit:
Thank you. I love that. That was a real reaction. Thank you.
Jack Butala:
No, no, no.
Jill DeWit:
That’s number one. That’s the point I need to make.
Jack Butala:
If you’re listening to this show, please don’t target back tax properties only. You’re really missing out.
Jill DeWit:
How about this question. Where do they get their data?
Jack Butala:
From data to Data2Doorstep, and actually I had a whole conversation with both of them about that, because they’re both former [24]7 users, and one of them said, I tried it this way for quite some time. Quite some time, inside of a year, but they’re both inside of a year, new. He said, I didn’t get the response.
Jill DeWit:
So the right data is life changing.
Jack Butala:
Both of them are very technical, and yes, the right data is life changing, and let’s leave it at that.
Jill DeWit:
Hey, I’m going to tweet that later. That’s pretty good.
Jack Butala:
They both said some version of this, whatever you need me to do Jack, if you need me to advertise the fact that this works, let them know.
Jill DeWit:
Oh, that’s really nice. We should have them on the show, or something.
Jack Butala:
I asked both of them. I asked both of them to be on the show, honestly. Do you know what they said? “No, I’m not experienced enough yet. Give me some more time to actually,” you know.
Jill DeWit:
What, be a radio star?
Jack Butala:
You know what, that taps into this. That taps into the topic. When is the right time?
Jill DeWit:
Yeah, the right time in your life. You know what? Here’s what’s …
Jack Butala:
Hey, if anybody can be on the radio, or have a podcast. If I can do it, anyone can do it, is my point. I have no talent.
Jill DeWit:
Oh Jack, you have a lot of talent.
Jack Butala:
Do you want to know how Jill and I started this show?
Jill DeWit:
You have a radio voice.
Jack Butala:
This is what happened. I started a podcast over a year ago. People kept not showing up as guests. Jill was here one day, and we did the show, and it clicked.
Jill DeWit:
That’s true.
Jack Butala:
Now this is the show.
Jill DeWit:
That’s funny.
Jack Butala:
It’s way easier, because I don’t have to schedule people. That’s a lot of work.
Jill DeWit:
Now we turn down people as guests.
Jack Butala:
We do. Doesn’t that feel good?
Jill DeWit:
It’s funny, I know. We’re like, “Oh you, will you listen? No.”
Jack Butala:
Last year we turned down, here’s the names of their websites. This isn’t their actual names, but it’s something like this. Howtobeamillionairelikme.com I mean, come on. I hate that stuff.
Jill DeWit:
Yeah, I hear ya.
Jack Butala:
Thanks, I’m done ranting.
Jill DeWit:
Okay, wait. I gave my women the right time in your life. Is there another, other than men splattering it all over?
Jack Butala:
I mean for guys, stabilizing everything. Make sure the amount of money that’s coming into your life is more than going out every month, and then start doing this. Here’s the summary and then we can move on. Don’t expect this to solve all your problems. This is going to add to whatever you have going on right now. It’s going to enhance your financial situation in your life. If it’s already stabilized, then okay, or it’s going to make it worse. If it’s a downhill situation right now, and then you get into this, it’s going to be a downhill situation faster.
Jill DeWit:
That’s true.
Jack Butala:
For men, yeah. Men tend to go overboard. It’s like alcohol. It enhances you already. If you’re an unkind, nasty person, and you have a bunch of drinks, it’s probably going to be worse. If you’re a happy, fun person like Jill, and you have a couple glasses of champagne, you’re going to even be happier.
Jill DeWit:
They Stacy will come out. Look out for Stacy.
Jack Butala:
This is a technical 2. 2 minutes of property investment advice, from our 15 year, 15,000 deal experience. Send out a lot of mail. Don’t listen to these guys late at night. Oh, you can be a millionaire, you can make $100,000. Here’s how you do it. Send a ton of offers out, and one of them there’s going to be $100,000 in it somewhere. It might take 20,000 mailers, it might take 1,500. It might take 10 years of sending mail out, but you will buy a lot of property for way less that it’s worth. That wasn’t even 2 minutes. I’m proud of myself.
Jill DeWit:
I love it. I just wrote that down because I’m going to Tweet it. I put, “Send out a lot of mail and one will have $100,000 deal in it,” by Jack Butala. You’ve just been quoted, and I’m going to Tweet that in a little while.
Jack Butala:
That’s just a little salesly, isn’t it?
Jill DeWit:
I don’t know, send out a lot of mail.
Jack Butala:
Send out a lot of mail, leave the $100,000 out.
Jill DeWit:
One will have a home run in it.
Jack Butala:
Home run, home run is good.
Jill DeWit:
Okay, here we go.
Jack Butala:
If you have a question, or you want to be on the show, call 800-725-8816, as if this whole show isn’t inspirational enough, Jill inspire us.
Jill DeWit:
Oh, thank you very much. You know what’s funny? What I wrote down for inspiration today is, be inspirational, inspire. Are you inspiring? You know what I mean? I’m almost saying inspiring when I really mean motivating. Are you properly motivating the people in your world? Are you showing up and giving them the tools that they need to be successful, even if it’s nothing but you’re doing a great job. Don’t change a thing. Can I get you a coke? That might be silly, but I do that. I like that, and I do like that. Jack you do that to me, you’ll come along and you’ll put a cold water on my desk. I love it when you do that. it’s really a nice thing.
Jack Butala:
What else do you like. You know what? Men need to know this stuff from their women, because they don’t tell them. A lot of times there’s a mind reading expectation. Now you’re going get a thing of water until you can’t drink any more of it.
Jill DeWit:
I like that.
Jack Butala:
What else do you want? Seriously.
Jill DeWit:
Shucks.
Jack Butala:
Whatever it is, you’re going to get it. That’s what I’m saying.
Jill DeWit:
Thank you. Man I wish I had more time to prepare for this, I would have had a really good list. Figure it out. You know what, a little coffee, and maybe creamer. Making sure I don’t run out of creamer.
Jack Butala:
Making sure I don’t, I’m writing this down.
Jill DeWit:
Exactly. As a matter of fact, I’m about out of creamer. That’s why I’m saying that. I’m almost out of creamer, and if you make sure I have creamer in my world, and a cold water now and then. You don’t need to talk to me. That’s nice.
Jack Butala:
You know what, if you drink black coffee, and you take a sip out of somebody’s coffee that’s got this new creamer design scenario, it’s like …
Jill DeWit:
Ice cream.
Jack Butala:
… drinking a candy cane for breakfast. It’s nasty.
Jill DeWit:
It’s the way I love it. Do you know what the nice thing is, Jack never steals my coffee, ever.
Jack Butala:
Boy that has nothing to do with any of this.
Jill DeWit:
That was inspiring. That was a good example of motivating your people. Thank you.
Jack Butala:
Join us in another episode where 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 every day, to buy property for half of what it’s worth, and sell it immediately.
Jack Butala:
Get there first. You’re hilarious today.
Jill DeWit:
I had a good night’s sleep. That helps, and I’m packing up for a little trip. That helps too. There’s a lot of little things, and our office situation’s solved.
Jack Butala:
Yeah, that’s considerable.
Jill DeWit:
That’s a whole lot of things.
Jack Butala:
There’s a lot of going on this month.
Jill DeWit:
We’ve been burning off some stuff here. It’s been a crazy, crazy, month.
Jack Butala:
We all got kicked out of our office. Did we talk about this on this show? Not just us here and LandAcademy LandStay, but everybody in the whole building got kicked out, because something bought the building and gave us 15 days notice.
Jill DeWit:
Here’s what I think is the funniest part ever.
Jack Butala:
Then they locked the doors, seriously.
Jill DeWit:
Yeah, they told us we had until the end of the month. Don’t worry about it, but we just picked a day, and said we’re out of here. Oh my goodness, thank goodness we picked the day that we did, because we were going to back. Jack, you went back to maybe pick up …
Jack Butala:
It was locked.
Jill DeWit:
… and maybe just check on some stuff, and it was dead-bolted, locks changed and everything. Wow, we left just in time.
Jack Butala:
We’re luck because there were attorneys in there, some medical, dental. It was a big building. It is a big building, but they have customers.
Jill DeWit:
I know.
Jack Butala:
We can go anywhere. We can do this on the moon.
Jill DeWit:
That’s true.
Jack Butala:
With an internet connection, so we’re lucky. I feel bad. I just in passing didn’t call my attorney on this, but I just told him the situation. He’s like, “What? Let take a crack at this.” I said, “No, no, no, no.”
Jill DeWit:
No, we’re not going to do that.
Jack Butala:
That’s just not cool. That’s a whole show there.
Jill DeWit:
Exactly.
Jack Butala:
Just be cool. Be cool about it. We’re all in this together, like it or not.
Jill DeWit:
Right, exactly.
Jack Butala:
Some people don’t think that. Information, inspiration, to buy undervalued property.
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