Postpartum Deal Depression (CFFL 455)
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hello.
Jack Butala: Welcome to our show today. In this episode, Jill and I talk about managing your postpartum deal depression.
Jill DeWit: What the heck was this? Where were you thinking when you came up with this, Jack?
Jack Butala: I’ve experienced it.
Jill DeWit: Oh, boy.
Jack Butala: I experienced it my whole career, and I want people to know that they’re not nuts.
Jill DeWit: Okay.
Jack Butala: That’s my point.
Jill DeWit: Well, I started flipping land and now I’m on Xanax. Whatever. Okay.
Jack Butala: Before we get into it, let’s take a question posted by one of our members on a landinvestors.com online community. It’s free.
Jill DeWit: Okay. [Claire 00:00:39] asked, “Is there a special way to frame offers to owners of multiple parcels in the same subdivision?” This is good. She put this in Success Planet and then she asked it on our member call the other day.
Jack Butala: Frame.
Jill DeWit: Yes.
Jack Butala: Frame them, like frame them like criminal frame them?
Jill DeWit: No, a special way to frame the offer. How to-
Jack Butala: Oh, to write it. Craft it.
Jill DeWit: Exactly. Frame them. Yes, I’m going to plant something on them, get them all arrested, and then buy their property.
Jack Butala: So, yeah, here’s what happens. What you want to do is, and this is what we do, I’ll tell you exactly what we do. I answered it on a call, but I’ll answer it here. When we have let’s say a whole county, inevitably every single subdivision and every single county, there’s people that own more than one piece of property, and those are, from a data standpoint, the exception. The norm is the single owners. So you run that normally through the mail merge, and then we run a data scenario through the, it’s a small little database situation that I wrote where we sent a secondary offer out to multiple property owners. So somebody owns like 50 properties in one subdivision, and you want to buy them for a hundred bucks each, they get an offer for $5,000, and it’s all added up and it does it that way.
So that’s how we do it, and at some point I will clean that tool up so that it’s usable for anybody, and make it available probably in a higher tiered membership level. So that’s how we do it. You can manually easily do it. You could, like I said, send the stuff to LetterStream for the single property owners, and those multiples you just manually do them.
If it’s really an intriguing situation, skip trace their phone number. It’s really easy to get someone’s cell phone number, really easy on the Internet. It’s not free, but you can do it, and then find these guys and call them and say, “I really want to buy your property.” That’ll work. One out of ten times, for sure, somebody will say, “Heck, yes, I’ll do that deal.” Some people that’s their whole business model. They just [inaudible 00:02:54] the cold call. I personally would rather stick a needle in my eye.
Jill DeWit: Yeah, remember that job I had one time. I had to cold call. I lasted two days.
Jack Butala: Yeah. [crosstalk 00:03:04]
Jill DeWit: I was a kid. It was a long time ago.
Jack Butala: I remember talking about it.
Jill DeWit: Cold calling is like, oh, no, no, no.
Jack Butala: The takeaway here is have a system for it. Do not spend 50 cents sending-
Jill DeWit: … fifty offers to the same guy.
Jack Butala: That just upsets people-
Jill DeWit: That’s true too.
Jack Butala: … and it’s a waste of money for you.
Jill DeWit: You know what it also, for me personally, that would tell me you don’t know what you’re doing.
Jack Butala: Yeah, me too. I mean, as a landowner-
Jill DeWit: Yeah. You’re not paying attention to what you’re doing if I got 50-
Jack Butala: Turns out, Jill and I own a bunch of properties in individual counties, and I’ve gotten multiple offers like that, and it’s silly.
If you have a question or you want to be on the show, reach out to either one of us on landinvestors.com. Today’s topic is postpartum deal depression. Well, everybody knows sometimes women have babies.
Jill DeWit: Oh boy, here we go.
Jack Butala: How would you define postpartum depression?
Jill DeWit: Oh my goodness. Is this Bill Nye the Science Guy talk today or what are we doing? Or Dr. Oz time? Oprah.
Jack Butala: Sometimes right after women have babies, the transition-
Jill DeWit: The excitement’s over.
Jack Butala: Yes, the excitement’s over, reality kicks in.
Jill DeWit: Do you really want me to share this?
Jack Butala: I do.
Jill DeWit: When a woman’s pregnant, all the attention’s on them. It’s exciting, they take care of them, and then the baby comes and then all of sudden it’s like they don’t even exist. It’s like all of a sudden-
Jack Butala: It’s all about the baby.
Jill DeWit: It’s all about the baby. They’re like, “I did that,” by the way. That was my line. I’m like, “I did that.” So how about over here? So anyway, you can get a little depressed and it is very common obviously, so you’re relating this, which you know what, Jack, and thank you for explaining it that way, I mean you’re right. I’ve had this and I know what this is.
Jack Butala: So, when I started out-
Jill DeWit: Not the pregnancy one, the deal one.
Jack Butala: Oh, I know. I don’t have it anymore, but-
Jill DeWit: No.
Jack Butala: When I started out, I was an acquisition guy, and then I became a consultant slash broker for longterm care facilities, nursing homes and assistant living facilities, and if you ever read the land e-book Cash Flow From Land that I wrote, I talk about it. It’s some of the most complicated real estate transactions you can possibly do. You need federal approval, state approval, you have to file cost reports, it takes a year. All right? And when you get the deal done, and you get a six digit check for putting the whole thing together, you have this postpartum depression. It’s like, “Oh, I’m gonna start this whole thing over again?” It’s like, man, I feel like I had a kid.
Jill DeWit: Right.
Jack Butala: And I’m going to send it off to college.
Jill DeWit: You put your heart and soul into it, and now it’s all gone and over. Never mind you’re staring at a big check.
Jack Butala: Yeah, exactly.
Jill DeWit: It’s all over.
Jack Butala: After like six of those in one year, you’re like, “It’s not about the money anymore. How can I make this easier?” That’s how I came up with this buying and selling land. It was out of just sheer frustration over these incredibly long, complicated commercial real estate deals.
Jill DeWit: I thought, it’s funny you say that, because I thought where you were going on this was how you and I are now, where I’m not so excited on the sale side-
Jack Butala: Yeah, I don’t care about sales.
Jill DeWit: I know. So I thought that was a negative thing.
Jack Butala: Well, we have this trailer park deal that we’re doing right now, the acquisition’s completely done, and we’re selling it off, and I don’t even care, because I got high off of it already.
Jill DeWit: Right. It’s on the high.
Jack Butala: I got high off the acquisition.
Jill DeWit: Right.
Jack Butala: So, yeah. That’s my whole point about this. You know what Tim Robinson would say? “Well, what the hell you being emotional about this for anyway?” There’s no reason to be emotional about anything that has to do with real estate.
Jill DeWit: You should embrace your emotion, Jack.
Jack Butala: Why the hell would I do that?
Jill DeWit: You are a living, breathing … I don’t know.
Jack Butala: This is what’s going to happen. This is Oprah today.
Jill DeWit: No. Do you know what’s funny? Well, you picked this topic. This is what you get. Oh my gosh. This is so funny.
Jack Butala: Who is Oprah now? Like who’s today’s Oprah? Because Oprah’s retired. Is it Ellen DeGeneres? But that’s-
Jill DeWit: Yes.
Jack Butala: But she’s not-
Jill DeWit: Yes.
Jack Butala: That’s just a talk show.
Jill DeWit: Yes. Yes. No, no. Ellen is more than just a talk show.
Jack Butala: Really?
Jill DeWit: Yes. Oh gosh, yes.
Jack Butala: It’s all emotional.
Jill DeWit: Oh, yes.
Jack Butala: I’ve only seen like one of them.
Jill DeWit: Oh, yes. Yeah. Mm-hmm (affirmative). So it is. It’s more than just that. She did kind of slide into that role. So that’s good.
Jack Butala: There’s obviously a huge daytime need for that on TV.
Jill DeWit: I don’t even know what’s on. We don’t have a TV. We just had this discussion again the other day, about-
Jack Butala: We’re standing in the store looking at TVs and I can’t believe how cheap they are, and I’m like, “You know what? I’m gonna, I’m doing it,” and Jill said, “Oh great, so we can watch TV then. We’re not going to go to the beach.”
Jill DeWit: Yeah, I’m like what’s the point of that?
Jack Butala: And we ended up walking out.
Jill DeWit: Yeah. Well, let me back up. What was really funny was we have kind of divided areas in our home, if you will.
Jack Butala: In one of our homes.
Jill DeWit: One of our homes, right.
Jack Butala: One of our homes has separate buildings, let’s put it that way.
Jill DeWit: There we go, and so-
Jack Butala: We’ll be together forever, Jill.
Jill DeWit: Is right. Anyway, it’s the one in California. So anyway, Jack was going to put a TV in my space and I was thinking, “This is a great idea to put it in your space,” and when we both stood there and figured out that we were talking about the other person’s space if there’s going to be a TV, then we said, “Oh, no, then we’re not doing it.” Like, “I don’t want a TV,” and the other like, “I don’t want a TV either.” Done.
Jack Butala: Awesome.
Jill DeWit: It was so funny.
Jack Butala: How do we get off of this topic?
Jill DeWit: I don’t know. Well, this was a short topic.
Jack Butala: If you do some deals and you’re not, so that you know, not too excited about sales, but you love acquisitions and you get a little emotional about it, it’s okay. That’s my whole point. You know, it’s really okay.
Jill DeWit: You’re not alone-
Jack Butala: Don’t-
Jill DeWit: … in your postpartum deal depression. That’s our new tagline.
Jack Butala: I started a company a while ago, long time ago, and it was a classic car dealership, and I bought and sold classic cars. I did a bunch of deals, and I lost my butt, because I love-
Jill DeWit: Did you care?
Jack Butala: I love cars.
Jill DeWit: I know, because that was an emotional company, not a financial company.
Jack Butala: … and I would cry. I would literally cry when the cars got sold.
Jill DeWit: I bet you did.
Jack Butala: So I had to get out of that business.
Jill DeWit: Yeah. You wanted to keep them all.
Jack Butala: That’s postpartum deal depression, man. Yeah I did.
Jill DeWit: I do not have room for them here.
Jack Butala: That’s right. We had a lot of cars. That was so much fun. I’ve had every car I’ve ever wanted.
Jill DeWit: I know. It still comes up. You and I talk about it. I’m like, “Where are we going to put it? Where are we going to put it?” Every time I say, then when you bring up a new car, I say, “That’s great, which one is gonna go?” Then you go, “Oh, never mind.”
Jack Butala: Yup.
Jill DeWit: Just to make room. It’s not that I’m like, you could have 20 if you want, Jack. I just don’t have the room.
Jack Butala: It’s the same conversation when we talk about having another baby. Which one’s going to go?
Jill DeWit: Yeah. I might do that one.
Jack Butala: Maybe we’ll get it right this time.
Jill DeWit: You mean I get a do over?
Jack Butala: I’m convinced that’s what grandparents do.
Jill DeWit: Yup.
Jack Butala: That’s the whole thing about grandparenting is-
Jill DeWit: Exactly.
Jack Butala: Oh, I’m sure this one will be fine, because that one’s a mess.
Jill DeWit: Sorry, I fixed it now, sweetheart. I messed up on you.
Jack Butala: Join us in another episode where Jack and Jill really don’t talk about the topic at all. Information, that’s me.
Jill DeWit: And inspiration, that’s me.
Jack Butala: 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’re not alone in your real estate ambition.
Jill DeWit: Sometimes it’s good to just talk about stuff.
Jack Butala: Yeah.
Jill DeWit: It’s all good valuable information.
Jack Butala: Exactly. Information and inspiration to buy undervalued property.
If you have any questions or comments, please feel free to email me directly at jack@LandAcademy.com.
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