Real Estate Agent Side Business II (CFFL 0238)
Real Estate Agent Side Business II
Jack Butala: Real Estate Agent Side Business II. 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.
Jill DeWit: Hi.
Jack Butala: Welcome to our show. In this episode Jill and I talk about the real estate agent side business that this could possibly be for buying and selling land for real estate agents. Great show today, Jill. Let’s take a question posted by one of our members on SuccessPlant.com, our free online community.
Jill DeWit: Cool. Chaz wrote and asked, “I’m in the process of purchasing my first property and I’m having a real hard time understanding the whole deed process. I received a copy of the old deed, which is a treasurer’s deed …” because he bought it at a tax sale. “Should I just get a warranty deed off US Legal and roll with it? Is it really that simple? It’s Colorado so I have the TD1000 form. Also, if I call the county recorder, what should I ask? Thanks, guys. Once this clicks I’ll be good to go, but this is just really confusing me. Ha Ha.” Love it. I remember those days.
Jack Butala: Me too. Chaz, you’re not alone. This was a big hurdle for me personally. A lot of years ago the paperwork piece of this really hung me up. In fact, for the first, probably 10 or 15 deals I did I hired a notary. Not a notary, I hired a title person to do all my deals and it was very, very, very expensive. Luckily for me, the margins were there but I learned nothing. I didn’t learn how to do my own paperwork, process [inaudible 00:01:27] deed, the whole thing. This is really good, specific example of, it’s a treasurer’s deed to you clearly can’t re-record another treasurer’s deed. Jill, before I get into it, how would you answer this directly? The short version?
Jill DeWit: Treasurer’s deed comes from a treasurer. You’re not a treasurer, which I wrote in SuccessPlant. We chatted about it.
Jack Butala: You did answer it? Okay.
Jill DeWit: Yeah, I did answer this. What’s good is I answered it and I said, “Hey, listen to the show because you’ll hear us talk about it.” It’s funny too because he said he’s already come a long way since he wrote this question. Yes. We have him in our program and Chaz remembers that now. He can just copy what we have in there and I reminded him special warranty deed is the way you want to go and he’s on the right path with that TD1000. It’s just for the assessor.
Jack Butala: He said a warranty deed.
Jill DeWit: I told him a special warranty deed is what I told him. It’s how you really want to go.
Jack Butala: Right.
Jill DeWit: And he can sure copy one of ours.
Jack Butala: I know that you answered the question for him in SuccessPlant, but what’s the answer for all of our listeners?
Jill DeWit: You need to recreate a new special warranty deed. What you’re using off the treasurer’s deed is the correct legal description and the grantor, that kind of information is what you’re taking off the treasurer’s deed as you’re recreating your new deed. Then yes, it’s no problem and highly recommend when you’re new, call the recorder before you send this in and just say, “Hey, I have a one page special warranty deed. I also have this XYZ form because I looked on your website, it looks like I need this form in your state. I have a check for 18 dollars and 50 cents, for the recording fee or whatever, is this correct?” And they’ll tell you. That’s really, really nice. They’ll make sure you have the right address and all that good stuff so it’s a great thing to do and that’s how easy it is.
Jack Butala: As a Data to Doorstep member, every Data to Doorstep member, has access to a website we put up called DeedPerfect.com. It’s live and running and ready to go. It’s a free service, you log on, you choose your state, you input all your information from the vesting deed. In this case it’s that treasurer’s deed that you’re probably holding in your hand. It kicks out in the end a pdf that if you put the right information in, it’s recordable. You can send it right into the county and get it recorded. We put that site up because there’s so many questions we’re getting constantly from our members and from other people all over the internet, including Facebook. Incidentally, the TD1000 that goes behind it, that form is attached for each state. Every state’s got a different one. I’m pretty sure that a hundred percent of the states are on there, if not, there’s maybe just a couple missing that we’re still getting forms for. If you input it all and print it out and send it to the county, have the right people sign it, you’re done. We’re trying to take a lot of the work out of this and provide it as a service to our members. Check it out. If you have any questions there’s a help email address that’s right on the site.
If you have any questions or you want to be on the show call 800-725-8816. Today’s topic, Real Estate Agent Side Business II. We did a show, Jill and I, a long time ago, called A Perfect Real Estate Side Business. It’s been downloaded and listened to, it’s in the top 5 episodes of our show. How many shows have we done, Jill?
Jill DeWit: This is 237, 238, but even more than that because this is our 2nd one so we’re at 2-
Jack Butala: I bet we’re at 300.
Jill DeWit: I was going to say …
Jack Butala: The first one, The Perfect Agent Side Business keeps coming up as one of the top 5 all time listened to episodes. We decided to do a second version just to clarify the thing. This is the meat of the show. Jill, why do you think this is a perfect real estate agent side business?
Jill DeWit: Because they have access to a lot of properties and it’s something they could easily roll it in on the side.
Jack Butala: Because they’re half way there.
Jill DeWit: Exactly.
Jack Butala: They already have the basic knowledge …
Jill DeWit: They’ve got the clients.
Jack Butala: Exactly. Terminology …
Jill DeWit: They see the properties.
Jack Butala: They know how to look up stuff, they have tool resources, like the MLS, and all of that. It makes so much sense to really get involved with our group because we provide all the exact tools and make it a side business because I think they’re already out there hustling anyway.
Jill DeWit: This is the funny thing that I’m constantly enlightening real estate agents because we have a lot of them in our world and they come to me. This is when they find us and they think that I can help them like I’m an investor kind of thing. They’ll come to me and say, “Hey, Jill, there’s XYZ property that this guy came to me with, it’s not my thing, do you want it?” My first thing is, what the heck? Why aren’t you doing this? It’s funny because I have to think about it, like, “What do you mean? Why aren’t you buying it? Why aren’t you marking it up? Why aren’t you doing this thing and selling it?” It’s funny because they go, “oh yeah, I guess I kind of could.” That’s it.
Jack Butala: I know exactly what you’re talking about. I’ve had theories about this over the years and I truly don’t understand it myself. Most of the really super successful residential real estate agents I know, they put a feather in their hat about getting a really expensive listing. They say, “I got this 1.2 million dollar listing and it took me 48 days to sell it,” and that’s their currency.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: My currency, and I think a lot of members in our group, we slap each other on the back when something like this happens. I just bought 40 acres for 3 grand, personally, but did it, closed the deal, did they paperwork myself or with the help of the group, and sold it for 18. We all slap each other on the back and say, “Man, that was awesome.” I just don’t get that. If I had a 1.2 million dollar listing and I knew it was probably worth … The first thing I would do is say this is way too much. You probably bought it for too much. Your financing’s silly from the mid 2 thousands. It’s just a different feather in our hats I guess is what I’m saying. I’m not knocking that way. I think that’s why … Why are so many people listening to that episode then or that show? As members, we don’t have a huge noticeable little clique inside our our membership group that are real estate agents.
Jill DeWit: That’s true. It’s a small group but they all know about us and it’s so funny, I don’t know if they’re, I don’t want to use the word “intimidated”, or they just don’t realize how easy it is or they just don’t want to do it.
Jack Butala: I don’t think they value it.
Jill DeWit: Yeah, maybe that’s it.
Jack Butala: I think that it’s not sexy and cool, this business we’re in.
Jill DeWit: Maybe that’s it.
Jack Butala: I really think that’s what it is.
Jill DeWit: Forty undeveloped acres versus a 3 million dollar beach house.
Jack Butala: We’re scrappy. This whole group is a bunch of people that got kicked around for awhile, and other stuff, and decided to say we’re too good to get kicked around. We’re going to buy some property for cheap. I don’t care if you guys can … Just scream at me if you want, I’m going to do it anyway. That’s what this group is all about.
Jill DeWit: I love your term “scrappy”. You know what’s funny? People look, old land, who wants that? There must be something wrong with it, all the funny little things. You know what? That’s fine. We are quietly over here doing very, very, very well in our own little world and I’m good with that.
Jack Butala: Exactly.
Jill DeWit: It keeps … I don’t want to say it keeps a lot of people out, but some people, it kind of does.
Jack Butala: Right. I heard somebody say this recently, a new member said, “This business model and this group chose me, I didn’t choose it. It sought me out and found me and sung to me.”
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: I know that feeling.
Jill DeWit: That’s really good.
Jack Butala: That’s kind of what happened to me I guess.
Jill DeWit: Yes.
Jack Butala: I’m glad.
Jill DeWit: I just have so much fun. It couldn’t be easier. It is not very difficult. Kind of like Seth Williams, takes a teaspoonful of effort …
Jack Butala: A teaspoonful of effort.
Jill DeWit: A teaspoonful of effort, I’ll never forget that quote. You know what I’m going to do I just realized? I’m just going to make a note right now. I put little quotes on Facebook and stuff. I’m going to make a Seth William one, I’m going to put that quote up there.
Jack Butala: That’s awesome.
Jill DeWit: He’ll like that.
Jack Butala: Anyway, it just makes so much sense to me to have this business as a side business for a real estate agent, but yet we have a lot of real estate agents that just don’t, for whatever reason, they’re not our top producers. Our top producers seem to have a different personality type, but everybody listens to that show.
Jill DeWit: Mm-hmm (affirmative), exactly. I just think for real estate agents it’s perfect because they’re already in it, they understand the concept, they know a real estate transaction …
Jack Butala: They know the language, the real estate language and terminology.
Jill DeWit: They have a title agent in their back pocket if they ever need one.
Jack Butala: They have the time the way that when you’re on full commission like that, if you allocated 2 to 3 hours a day, maybe early in the morning or something, or after … Usually I think you show houses and all that later, after people are done with work.
Jill DeWit: And weekends.
Jack Butala: Right. It just seems like an ideal extension of it.
Jill DeWit: Mm-hmm (affirmative), that’s what I think. It’s a no brainer. Once you learn how to do it, get some property, post it, and you’re answering your phone anyway.
Jack Butala: Yeah, exactly. Probably get your support staff at your broker’s office to help you with a bunch of stuff anyway because it’s all real estate. They don’t know. They don’t know the difference. I mean their broker doesn’t. [crosstalk 00:11:28].
Jill DeWit: The thing about this business, the way we have it going, it’s more consistent I think. I don’t want to be stressed, if I was a real estate agent, I’m stressing about that 1.2 million dollar home I’ve got to sell right now. When’s it going to happen? I’ve got to pay some bills, whatever it is, versus I have this side thing going on here. That’s going to give me a lot of breathing room. I love it. It could be more consistent [inaudible 00:11:56].
Jack Butala: If you have any questions or you want to be on the show, call 800-725-8816. This is the Technical 2, it’s 2 minutes of property investment advice from our 15 year, 15 thousand transaction experience. If you’re a licensed real estate agent and you have access to the MLS legitimately – Because there’s lots of not legitimate access out there, you don’t even want to horse around with that – Legitimate access to the MLS, check out the days on market, DOM, for rural, vacant land in the MLS, whatever you’re a part of, take the one that’s got the highest days on market and you’re going to be shocked. It’s going to be days in the thousands. It’s going to be listed for 5, 8, 10, 12, 20 years, literally, seriously, if you’re in a big market. Make them an offer. You’re going to be shocked that they will accept. Make sure the offer that you submit is 20 percent of what they’re asking. You’ll be shocked and amazed at how many people accept those offers when they’ve had this property listed for 4 or 8 years. It’s amazing.
Jill DeWit: You know what’s interesting too? How many people probably have it listed there and nowhere else, how many people they’re not reaching. Exactly. They probably thought no one wants it. They just don’t realize no one’s really seeing it.
Jack Butala: Buying and selling property on the regular MLS, that’s not what it’s for. It’s one of the worse places to get sidetracked. Why the heck did you just tell us to do it then, Steve? Because here’s why-
Jill DeWit: Jack.
Jack Butala: Yeah, Jack. I hear my mom calling me, “Steven Jack,” sometimes when she’s mad. Because I want you real estate agents to come to our side and take a look. I know you know the MLS and trust the MLS and love it, and the days on market thing you love, and love all that terminology. I think if you submitted a 20 percent of listed value offer on a few, let’s call it 5 properties that you find in the MLS, you’re going to be shocked at the fact. They will get accepted. One of them will. I’ve done it. I bet somebody in my office a lot of years ago we did it because they were a licensed agent and they had access to it. He wrote the offers up and the whole thing and 2 of them got accepted.
Jill DeWit: We need someone to do this challenge right now and give us the results because it will happen. It’s funny.
Jack Butala: Then my hope is that you’re going to say, “Then why don’t I actually just get involved with Land Academy and do what these people are saying because you can buy this property super cheap and sell it for a lot more pretty quick. It’s way easier in my opinion to get it into a system than finding and listing homes everyday and dealing with talking to people all the time. This is just a machine-like thing you can do in 2 hours every morning, make a ton of money on the side. It’s the perfect real estate agent side business. That was longer than 2 minutes, sorry.
Jill DeWit: It’s all good.
Jack Butala: Let’s move on to Jill. Jill, inspire us please.
Jill DeWit: That’s funny. Good people, you know who I’m talking about, inspire me. Good, happy people. Unhappy people, I run from. Who are you?
Jack Butala: Who am I?
Jill DeWit: Not you.
Jack Butala: Oh.
Jill DeWit: I love it when that happens. That’s so good. Your mom didn’t just come out again.
Jack Butala: We talk into these mics very differently. I think that’s part of the entertaining part.
Jill DeWit: What the heck?
Jack Butala: Jill clicks into this thing like, “Deep Thoughts by Jack Handy.”
Jill DeWit: Sometimes I do.
Jack Butala: I don’t know if she’s talking to me-
Jill DeWit: I got technical the other day and I’m all over the place, but I hope that’s what’s fun because you never know what’s coming. I just was thinking about … Here’s why: I just reconnected today with some friends from high school, just laughing and having so much fun and it just reminds me they’re good people and I need to be with those good people. It inspires me. A 5 minute phone call, I’m off the phone laughing and happy and I’m motivated and it rejuvenates me. I’m like, “Gosh,” then you go to the liquor store, you go to the gas station … Anyway, you’re at the store and there’s just unhappy, mean people. I’m just like, “Get away from me. I want nothing to do with you.” It brings me down. It really does.
Jack Butala: Yeah, you just got to get out of there.
Jill DeWit: I wanted to point this out that it’s important to think about what you’re portraying and who you are walking around like. Are you that person that’s yelling at people? Seriously. They’re telling them, “Watch the road,” or whatever it is.
Jack Butala: Let’s bring road rage into this episode.
Jill DeWit: You know how it is because it happened to me the other day. I was watching the road and I was like-
Jack Butala: We could do a whole show about this.
Jill DeWit: It was so funny. This girl just had a point to tell me. It was a weird situation.
Jack Butala: Out here in California?
Jill DeWit: Yes. It was a young teenage … She had a little bit of an attitude.
Jack Butala: Sure.
Jill DeWit: You know me, I’m just like, “Doo doo doo doo, whatever. You’re going to have a good day if that’s how your day’s starting.”
Jack Butala: You’re a very good driver, Jill.
Jill DeWit: Thank you. I just wanted to say-
Jack Butala: I really mean it. There’s some people, I’m not going to go gender, anything on this. You people of gender know exactly who you are. Jill’s a licensed pilot. I just think you kind of run the car like that. There’s a lot of stuff going on in the back of your head, which doesn’t happen with young, not gender specific people.
Jill DeWit: You’re thinking ahead. You’re always thinking ahead.
Jack Butala: Yeah.
Jill DeWit: There you go. That’s good.
Jack Butala: Anyway.
Jill DeWit: That’s it. Just think about who you are and what you’re portraying and what you’re putting out there.
Jack Butala: Can I give my tail and 2 cents on that?
Jill DeWit: Please do.
Jack Butala: We don’t realize it and I have had multiple experiences in the last 7 days of this exact topic. You out there listening audience don’t full realize who you are leading by example for. I don’t care who you are, what age you are. Somebody, probably multiple people are looking at the way that you behave and choices that you’re making and how you handle stuff and you are leading by example for them. They will mimic or replicate or look at how you’re doing stuff. Fill the shoes is what I’m saying.
Jill DeWit: Yeah. Good.
Jack Butala: I’ve had several people that reached out to me really recently and said, “Man, you did this, this and this 2 years ago,” or “You said this on the show 6 months ago and it really sung to me and I went and did it and it worked.” My first thought of emotion was like horrified like, oh my gosh, I’m leading. I’m a leader and they’re listening to me. I can’t be responsible for what I say. Then I calmed down and said, you know what, I just need to embrace it. Maybe give some good advice instead of the crap that I give all the time.
Jill DeWit: No, you do. No, that’s really good. Thank you for adding to that, Jack. That was really good and inspirational.
Jack Butala: I’ll save it for the after show.
Jill DeWit: Okay.
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 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. Who do you think you inadvertently setting an example for? I have long list of people by the way.
Jill DeWit: Oh my gosh.
Jack Butala: When you really sit down and think about it, it’s scary.
Jill DeWit: I first think of kids. They may or may not be actively looking up to you but they do. They may think, “I don’t want to be like that.” Or even if that’s a way too. They do, they see it, they get it.
Jack Butala: This past 7 days I’ve been really closely working with some of the people in our organization that are brand new and at the lowest level starting point, entry level positions. I’ve been working with them directly which is something I haven’t done in the past. Usually I’m a big top down, organizational structure person, but there are several people that have hired in recently and I think they need some help directly, more than their direct managers can give them. I’ve been working with them and they’re like sponges.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: It’s shocking to me how much they just need maybe a half hour or an hour a day, and it’s not like a classroom situation, I just sit there and say, “Hey, I used to have your job. I used to do this all day. This is how I used to do it, but you’re probably going to find a better way.” They’re like, “No, no, no, let’s …” and I show them how to do it and say, “You might have a better way.” It’s amazing, the motivation and what you can get out of somebody if you treat the situation that way. That’s your inspiration.
Jill DeWit: I like it.
Jack Butala: I’m playing off of your inspiration, Jill.
Jill DeWit: Thank you, Jack. That was awesome.
Jack Butala: What do you think? I bet you have … You’re reconnecting with a lot of people in your life right now, just because we’re spending more time out in California because that’s where you’re from. What do they say? I know you beach people get all touchy feely about everything.
Jill DeWit: We do get all touchy feely. We’re just having fun. You know what? Everyone’s just so darn supportive. Here’s the point: All of my friends and all of my people in my world, no matter what I’m doing, they will be supportive and it’s wonderful. Whether I’m doing great or not doing great, they would be right there. They are true, good people. That’s why I feel very lucky and happy.
Jack Butala: That’s great. Information and inspiration to buy undervalued property.
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