First Property Home Run – Current Member Example
Jack Butala: First Property Home Run – Current Member Example. 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 DeWit, welcome to our show.
Jill DeWit: Hi.
Jack Butala: In this episode, Jill and I talk about first property home run with a current member example, like a real example. Jill, great show today. Before we get started, let’s take a question posted by one of our members on SuccessPlant.com, our free online community.
Jill DeWit: Cool, all right. Jared wrote, “So I found a county, low population, vacation destination in the state, good access, but it has high prices on land and only two properties are for sale on the tax sale list. Is this one I should run from?”
Jack Butala: This is a great question, and I’m really glad that he asked it. In the cash flow from land education program we talk about how to choose a county to work in. It’s a suggestion that I make based on some pretty serious experience and some positive outcomes. That being said, we have a ton of members who don’t listen to that advice and they go buy different product types, and it works. It’s a testament, I think, to the whole you send a bunch of offers out in the mail and have them come back, some of them come back signed. No, I would not run from this at all Jared. I would test it a little bit. Just throw out, I don’t know, a thousand letters and see what comes back.
There’s a three or four point process we talk about in the program where you look for low density population using census maps, you look for access. I always go to a site like etaxsales.com. If you don’t have a subscription, you get one if you’re a member in our program. Just check to see how many back tax properties are in the whole county. We don’t advocate sending mail out to back tax property only, but I do use it as a gauge to whether or not we’re going to have a pretty successful offer session in the mail. I think what’s concerning him is there’s only two properties on the tax sale list, and I wouldn’t be concerned about that at all.
What I would really check before I spend some money on a mailer is if properties are being sold on land watch, or land and farm, or any of those sites in that county, and for how much they’re being sold. If they’re all being sold for 15 to 20, to $50,000 an acre, then I would probably bag the project and move on. There’s a three or four point test that we go through, and it’s got to have, I don’t know Jill what, like two, maybe three of the, it’s got to test positive, like for 75% of it, and then if you really want to make it work and properties are way more expensive in that county, then you could send offers out, but they’re going to be higher priced offers, but lower than what it’s worth. Does that answer it, or is that convoluted and complicated Jill?
Jill DeWit: No, that was great.
Jack Butala: If you have a question, or you want to be on the show, call 800-725-8816. Today’s topic, first property home run current member example. This is the meat of the show.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: What do you think?
Jill DeWit: This is a call that you had. Isn’t this a deal review call?
Jack Butala: Yeah.
Jill DeWit: Okay, good.
Jack Butala: Quite some time ago, Jill and I set up this thing called deal review where members have, if they have a bunch of properties or one property, and they kind of want to ask me or Jill, or both of us, get us onto Skype and say, “Should I do this deal or not?” It’s worked out. It’s saved a lot of people a lot of time and money and aggravation. Most of the time we say yes, because by the time it gets to us, they’ve done everything right. The people who use deal review, seem to be the ones who are taking this really seriously Jill.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: Anyway, we have a member who we were first introduced to at a live event, a live real estate investment event where Jill and I spoke. We immediately clicked with this guy. We’ll call him JP. Is it JP Jill?
Jill DeWit: Yeah.
Jack Butala: He goes by a completely different name on the screen, but he bought a property or auctioned it, I’m not sure, and he’s going to make over $100,000. It’s his first deal. It’s causing quite the-
Jill DeWit: Stir.
Jack Butala: … in our membership. I always say. I’ve said forever, I always say, “Don’t try to swing for the fence. Just hit a bunch of singles and the home runs happen. I love when I’m proved wrong by members like this just swimming in cash. It’s awesome.
Jill DeWit: It’s so good. Yep.
Jack Butala: I’m proud of this kid. He’s real young.
Jill DeWit: Right.
Jack Butala: He’s super bright, really young kid, he’s got a good job.
Jill DeWit: That’s what I like about him too, he’s got energy. That’s one of the things I tell people all the time, “I can teach you all kinds of things about this, but I can’t teach you motivation, and I can’t give you energy, I can’t make you answer the phone, I can’t make you buy something or sell it. That’s got to come from you.” Boy, he has so much motivation. I wish I could spread that out on a lot of other people.
Jack Butala: I know. Some of our members, they come to us and they say, “My life sucks. This is wrong, this is wrong, and I expect you two to fix it.”
Jill DeWit: Oh yeah. Exactly.
Jack Butala: Let me tell you how that goes. This kid takes total responsibility for his success or failure, and he’s succeeding because of that.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: A vast majority of our members do that.
Jill DeWit: That brings up the whole point, is that’s why we’re here. We’re here to help and guide if you want that. Everything that we’ve done, when you just mentioned the whole deal review thing, people asked for that. It’s all been, Land Academy was asked for. Every single thing that we are doing right now today, is because enough people said, “You got to do this. We need this, kind of thing.
Jack Butala: I’m so excited about the stuff we’re going to release.
Jill DeWit: I know.
Jack Butala: I really am. We’re just about ready to release some awesome requested, just like Jill said, requested products. People don’t like doing deeds. I don’t like doing deeds, so we have a whole automated website our members can just login and it kicks a deed out in the end in a PDF. They send it the county, or they send it to their seller or buyer to get it signed. It’s just a member benefit. It’s just about ready to go.
Jill DeWit: Super excited about that too.
Jack Butala: All 50 states.
Jill DeWit: Yeah, it’s going to be awesome.
Jack Butala: Yeah. Nice work JP. We’re all proud of you here.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: I know it’s not closed yet, but I think it’s pretty close. I’ll have you on the show when we’re done.
Jill DeWit: Yeah, I would love to, because I want to get some of the details of whatever he’s willing to share. We should have him on and get even more details of it. That would be cool. When it’s all said and done.
Jack Butala: This is a technical two. Two minutes of property investment advice from our 15 year, 15,000 deal experience. Please don’t try to hit a home run. Even though this kid did it, and I know it’s motivational. That’s why I decided to do this show. I want you to be motivated. Whether you’re flipping houses, or whatever you’re doing, flipping mobile homes, buying and selling land. There are home runs out there, and they will happen. It happens to Jill probably two maybe three times a year. Let’s just say two times a year where somebody calls and says, “Here’s all my property. I’m done. Thanks.” Please just hit the singles, and all the home runs will happen unless you’re JP. If you have a question or you want to be on the show, call 800-725-8816. I cannot wait to hear Jill’s inspiration for the day.
Jill DeWit: I said it. I’m going to repeat it. I can’t teach motivation. That’s it. You got to have that. Whatever inspires you, if you don’t have it, go find it.
Jack Butala: What inspires you?
Jill DeWit: Oh my goodness.
Jack Butala: You seem to be inspired by everything Jill. I mean that in the most complimentary way. You’re a breath of fresh air everywhere you go.
Jill DeWit: Thank you, thank you.
Jack Butala: I mean it. We were out last night with an old friend of ours that happens to be vacationing in the city where, wow, he’s vacationing in the city where we live.
Jill DeWit: I know. How cool is that?
Jack Butala: He just, everybody adores Jill, but this guy’s like, “Man, it’s just so nice to be out with you. You’re so happy, just happy with life.”
Jill DeWit: It was fun. That was really fun.
Jack Butala: Do you really? Is there a source of inspiration that you go to, or do you ever need to do that, or do you just wake up happy all the time?
Jill DeWit: I was just, I’ll share, I just did it a little while ago. I look for it all day long. That’s how I, sometimes, and you and I know, we have some really rough days. There’s so much going on, you just can’t, you’re just pulled in different directions, and you’re trying to help everyone. It’s hard, and it’s frustrating, it’s tiring, so there’s days that I have tough days that I have to rally. I really walk around, wherever I am, I’m looking for things.
Here’s what I just did. I was just making more coffee, and I’m standing by a pretty window, and I’m looking outside, and like, “Oh my goodness. It’s a beautiful, beautiful,” we’ve had a lot of June gloom here in the mornings where it’s been kind of overcast and stuff at the beach, but not this morning. It’s bright, and clear, and it’s a really pretty blue. My inspiration while I’m standing there waiting for the coffee, which takes awhile, I’m like, “Wow.” I just opened the window. I was looking out the window for a few minutes just kind of, I opened up the blinds so I could see it really clear, left it all the way open, and that was my little inspiration right there is looking out the window at the blue sky.
I’m doing this because I want to live here. I love my life, everything that we’re doing, and that’s it. That’s why I say go find it. You kind of can. You may have to spend some time searching for a little bit, but you can focus and find something that’s going to motivate you. I know you’ve done it Jack. What’s one of yours?
Jack Butala: It’s going to sound really silly, but there’s two specific things that really, really, I know exactly what you mean, when you’re in the thick of it like the Monday and stuff. Two things really pull me out of that really quickly. Number one is doing a budget. Budgeting, “If we do this, this, and this, we could make this much more money. If we tweak this mailer, we can buy this much more property,” or, “Hey, let’s get a new buyer in here.” I’ll call somebody like whoever, I don’t know, some signature member on land watch. I’ll call them and say, “We wholesale land, and clearly you have 400,000 pieces of property listed on land watch. Maybe we can do some stuff together.” That gets me out of it.
The other thing that really, really helps, and this is a secret that I’ve only ever really shared with Jill, but I’m going to say it now. When I wake up in the morning, every single morning, I try to conquer something. I don’t care how small it is. Putting batteries in the smoke detector and having it work properly. Then it’s like, “All right. I succeeded at that. Let’s go kill it,” or anything like that, or getting something organized. Like organizing something that needed to be organized for months, like a junk drawer or something silly, silly, silly, silly, stupid stuff like that. Then it’s like I sit down in front of the desk and I can, with the right attitude.
Jill DeWit: Exactly.
Jack Butala: The silly little things that happen that I don’t know.
Jill DeWit: I think it’s great. I like that Jack. I’m glad that you shared that.
Jack Butala: I came up with that stuff myself. Usually I read it in a book and say, “Man that makes sense.”
Jill DeWit: “I’m going to use that.”
Jack Butala: I’d like to read it in your book Jill.
Jill DeWit: It’s coming.
Jack Butala: How is that book?
Jill DeWit: It’s coming. I know. It’s going to be, it’s a summer project. How’s that?
Jack Butala: All right. I’ll take it, summer project.
Jill DeWit: That’s it.
Jack Butala: Join us in another episode where Jack and Jill discuss how we use information, that’s me-
Jill DeWit: And inspiration, that’s me-
Jack Butala: To do just about anything you want.
Jill DeWit: We use it everyday to buy property for half of what it’s worth, and sell it immediately.
Jack Butala: You are not alone in your real estate ambition. You know what? This show is like, do you ever hear somebody say, “Man I can’t wait to get on the airplane because no one can call me. I can just sit there for like two hours, four hours.” That’s what this show is for me.
Jill DeWit: Oh. You just get to shut down, and think, and talk.
Jack Butala: I can’t answer any, I can’t talk to anybody except you, which is nice. I learn more about you on the show, than in normal life.
Jill DeWit: That’s true sometimes. I love that. Like, “I never heard that. What are you talking about?” That’s so good.
Jack Butala: It’s the half hour in my day that I get to just not be available.
Jill DeWit: That’s true. I was thinking too, how funny it was last night when we were meeting up with that old friend and he was asking us about, it was one of the questions that we get often, and it’s, “What the heck do you guys have to talk about seven days a week?” It’s the funniest thing.
Jack Butala: That’s the most asked question I get from people that we know that find out we have a show.
Jill DeWit: Exactly.
Jack Butala: Like they knew us way before the show.
Jill DeWit: Oh it’s so funny. Then, of course, we’re all talking for four hours. You’re like, “Hello?” It’s just like this.
Jack Butala: The whole time I’m like, “That’s a show, that’s a show, that’s a show.”
Jill DeWit: That’s true. We did that all last night. “There’s a topic,” and he’s like, “Wow, okay. That’s how it goes.” We’re like, “Yeah. That’s how we,” because that was his other thing, “How do you guys come up with the topics?” We’re like, “Well we’re doing it right now.” We walk around and they come to us, seriously. That was good. I love that, sharing that about that call that you had with that guy. That was really good.
Jack Butala: Yeah.
Jill DeWit: It’s funny, because I think he was all fired up and I watched him get the program and then dive in, and I was a little worried.
Jack Butala: He was quiet for a long time.
Jill DeWit: He was a little over anxious, and I’m like, “Okay calm down, calm down.” Seriously, I felt [inaudible 00:14:17] and then I think now he’s like, “Okay I can breathe now. Now he gets it. It’s all okay.”
Jack Butala: You know what Jill? You nailed it. I didn’t even think about it. It’s [inaudible 00:14:27] attitude. There’s a lot of people who say, “You can’t buy a,” here’s the numbers on this deal. He’s going to buy a property for about, he’s got it optioned now that I’m thinking about it, for $23,000, which I said, “This is way too expensive,” and he said, “Yeah, but I’m going to buy it anyway,” and he’s going to sell it for about $120,000, between $120,000 and $180,000. He’s got people talking pretty seriously at those numbers.
There are many, many, many people who think that’s just, that’s too much of a spread, it’s not possible. It doesn’t enter their mind that there’s a possibility of marking up property that much. It’s just second nature to this kid. I can tell, whatever he’s going to do, it might be this or something else, he’s going to be very successful.
Jill DeWit: Yes.
Jack Butala: Coming in with a right attitude like that, like this is possible, that’s great.
Jill DeWit: You know what’s nice too? He also has the, he doesn’t know that it’s not possible attitude. To him it’s like, this all makes sense. Other people, you know how people, they, how do I say that? They put restrictions like, “Oh I can’t possibly whatever, because I’m not strong enough, or I’m not whatever enough.” People just, you just do it yourselves. I don’t understand that. This guy doesn’t know it’s not possible. He’s just running. This is great.
Jack Butala: Remember Ross [Perot 00:15:47]? The guy, the EDS, Electronic Data Systems, he-
Jill DeWit: Ran for president.
Jack Butala: Yeah, exactly, yeah. He was an oil guy I think, or no, a data guy. He put computers into General Motors. Anyway, he was famous for saying, when somebody asked him, “What is it about, what’s different about successful people? What’s the difference in successful people and non successful people?” He said, “All the successful people I know, me included, don’t know when they’re beat. They just don’t stop. They don’t even think about it.”
Jill DeWit: Perfect.
Jack Butala: I love it. We’ll end the show on that. Information and inspiration to buy undervalued property like JP.
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.