You and Your Computer (CFFL 458)

You and Your Computer (CFFL 458)

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, you and your computer. One of my favorite topics, after data that is. Before we get into it, let’s take a question, posted by one of our members on the online community. It’s free.

Jill DeWit:                           Okay. Katrina asks, “I purchased a property from a church. The church sent me a copy of their power of attorney with all the designated signers for the church.” Well that was nice.

Jack Butala:                       Churches come up.

Jill DeWit:                           That was nice. That’s funny. I used that example yesterday. “I have to now send the deed to the county for recording. Do I have to send a copy of the power of attorney with the deed? I asked the county recorder and the assessor if they needed a copy, and the power of attorney told me, and I kid you not, ‘I don’t know’.” So good.

Jack Butala:                       I don’t know?

Jill DeWit:                           Oh. “Can someone please tell me if you’re sending in your power of attorneys with your deeds to be recorded?” I know, I know. Pick me.

Jack Butala:                       Yeah. Go ahead.

Jill DeWit:                           You know what Katrina? You are not alone in this interesting dilemma. Where I have … Where you actually know more than the person sitting in the chair at the county. That’s not-

Jack Butala:                       We talked about this yesterday.

Jill DeWit:                           Oh my gosh. Yes.

Jack Butala:                       And churches.

Jill DeWit:                           The answer is, no. You don’t need to send it in. Can you send it in and have it recorded that same time? Yes. It’s just going to pay extra recording fees for X more pages, and they’re not really needed. What I would do Katrina … That was really nice of them to send that to you. I would hang on to that. Have it for your records, should it ever come up that maybe your seller wants to get title insurance some day and you can provide that document for them, and that’ll help everybody out, and that’s really nice.

Jack Butala:                       Good advice.

Jill DeWit:                           Thank you. No. All that’s doing for you is proving to you that you’re showing the names, and the proper people are signing for it, and you’re going to copy from that document, probably how they’re names should be written, and what their positions are with the church. I’ve bought properties from churches too. That was a really good question. Do you have anything to … I just took the ball and ran. Do you have anything to add Jack?

Jack Butala:                       No, it’s great. No. I’m glad you did. I agree completely with you. I thought you were going to answer it differently quite honestly, because there was a period when you just loved to send stacks of paper to the recorder.

When I was in accounting, long, long, long time ago, one of the first jobs I had actually when I was still in high school, was an internal auditor. My buddy’s father owned this company and he hired us so we could learn. It was actually a pretty cool experience. I got assigned to an internal audit team, and we went out and looked at these companies that they were running and owning. I got an assignment, and I kicked ass. I mean, really. I went above and beyond what I was supposed to do. When we sat down to see the results of what I put together, the guy looked at me with my boss and said, “How about next time, you just give me what I want? Like on time. Not anything extra. Not less, not more. Just what I asked you to do, just please do it.” That always stuck with me, because that’s what this is here. You have to fight the completeness of the deal, and just send the recorder the deed. They don’t need a whole phone book.

Jill DeWit:                           Sometimes, it confuses them too.

Jack Butala:                       Yeah. That’s what I’m saying.

Jill DeWit:                           They’re like, “What? Why? Should I read this? Should I do something with this? Is this?” It’s almost like you’re making them think they need to do more work, and you don’t want to do that.

Jack Butala:                       Every time you send something to the recorder, you’re interrupting them from eating the piece of cake that they’re eating.

Jill DeWit:                           Jack.

Jack Butala:                       You outta make that interruption as brief as possible.

Jill DeWit:                           Jack you cannot say that.

Jack Butala:                       Let them eat cake.

Jill DeWit:                           Oh my gosh. You can’t … Jack you cannot say that.

Jack Butala:                       Why?

Jill DeWit:                           Oh. That’s not good. No, no, no.

Jack Butala:                       You have a question, or you want to be on the show, reach out to either one of us, on I know they eat cake Jill, because you send them cake.

Jill DeWit:                           And there’s a reason why we don’t let you talk to them anymore. Next.

Jack Butala:                       Today’s topic, you and your computer. This is the meat of the show. When’s the last time you’ve actually gone to visit a piece of property that we bought?

Jill DeWit:                           Oh my gosh. Let’s see. What year is this now?

Jack Butala:                       I know.

Jill DeWit:                           No. You know how it goes? It’s you and I traveling and you’re like, “You know, we used to own a bunch of that over there.” I’d say, “Oh, really. That’s nice. This is pretty.” That’s kind of it.

Jack Butala:                       Exactly.

Jill DeWit:                           No. We don’t have to do that anymore.

Jack Butala:                       No. I think that … My whole point to this is that, you really … If you don’t enjoy being on a computer, this is not going to work for you.

Jill DeWit:                           You know what notes I wrote down? I wrote down, with this show is, “You need to have a love affair, almost.”

Jack Butala:                       Yeah. You know what? That’s a great way to put it.

Jill DeWit:                           This whole process. This whole business. Your computer. Your office. If you’re trying to do this, you know, in your closet at night, because it’s the only quiet place you can go with the kids and stuff, that’s hard. You need to have a place to go, and just get lost in it, and be-

Jack Butala:                       You need to be pretty much obsessed with it, and really not know why.

Jill DeWit:                           Exactly.

Jack Butala:                       Eddie Van Halen’s guitar comes to mind.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       You know, go ahead. Quote it for us, Jill. I love this. I love this saying.

Jill DeWit:                           The one I came up with is like … It was like a teaching thing. “You can teach someone to play a guitar, but you can’t teach them to play it well, or to be a good musician. You can’t teach them to be Eddie Van Halen.” I can teach you scales and whatever, chords I guess it is-

Jack Butala:                       What I got … You came up with this, an original Jill concept. You said one day, “If Eddie Van Halen sits down with you, and shows you how to play the guitar for an hour, and then he leave your house, and you can’t play the guitar, is it his fault?”

Jill DeWit:                           Exactly.

Jack Butala:                       NO. You’ve got to be into it and not even know why.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       Replace that story, in the guitar, with your computer.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       It’s a love affair. You’re exactly right.

Jill DeWit:                           I love it.

Jack Butala:                       [crosstalk 00:06:27] or something.

Jill DeWit:                           Yeah. This is not HGTV fun, silliness. This is data, and you’ve really got to love. You’ve got to … If you’re not comfortable with that … This is our chance, I guess, to tell you what this is really all about. You need to go into these things with your eyes wide open, and with all the answers. You need to be … You can’t fall in love with a property. Like you were saying, when was the last time I looked at one? I don’t. I really don’t. I look at them all differently now. When I look on a map … In the beginning it’s very easy to go, “Oh, look at the cute little town.” All the photos you can get online about it. It’s really easy to fall in love with a property, and think it’s cute, and sweet, and all that good stuff. If you spend that much time on every property, it’s going to take a lot of time.

Jack Butala:                       Here’s a funny story. I went … This was a lot of years ago. Long before I met you. I went to go look at some property down in Cochise County, Arizona. There’s a little town there … I can’t remember the name of it. I got out of the car … And it’s right out of a postcard, you know, a western town. There’s a tumbleweed going across the street, just like in a movie. I went and I got the tumbleweed, and I put it in my car.

Jill DeWit:                           Oh my gosh.

Jack Butala:                       I’m like, “I have a tumbleweed.” Then-

Jill DeWit:                           What are you going to do that?

Jack Butala:                       Fast forward to two years, and I’m like, “These tumbleweeds are a pain in the butt.”

Jill DeWit:                           That’s like me picking up the leaves in Michigan.

Jack Butala:                       Exactly.

Jill DeWit:                           That’s funny. Oh. No, no, no. That’s cute. What was it? Somebody the other day … I can’t remember who it was. One of our members on a call, was saying … They were clearly going down that path. We have to real them back in often and say, “Knock it off. You know too much.” You’re good at that, Jack. You’re famous with telling people, “If you’re getting that far into now, A) you just took how much more time? B) now you need to disclose all this stuff.”

Jack Butala:                       Yeah.

Jill DeWit:                           Hang on a moment, do you really want to be that kind of a salesperson? Or do you want to just have a thousand properties out there, and just sit and watch the money come. Let them just check out. That’s what I choose.

Jack Butala:                       Yeah. You don’t want to ask a lot of questions about the property that you own.

Jill DeWit:                           Right. You don’t want to [crosstalk 00:08:45]. You don’t really want to write … It’ll just take … You don’t really want to have a whole long thing that you’ve talked to the county on every property, and you know all the ins and outs of all the zoning, and what you can do, and how long you can live there, and what … Does it have to site built? Now you’re getting into this … Aright, hold on a moment. Unless you want to … If this is a hobby for you? Okay. And you like it? Okay. But if this is a business for you, like us? You can’t do that.

Jack Butala:                       If you ask enough questions, you’re going to find something wrong with anything.

Jill DeWit:                           Oh. Yeah.

Jack Butala:                       So, why ask any questions at all?

Jill DeWit:                           You know. It’s like … It comes back to emotional and financial. The people who are buying these properties, the end user are buying them for emotional reasons. The people like us, we’re buying them for financial reasons.

Jack Butala:                       Yeah.

Jill DeWit:                           I don’t really care what the sunset looks like standing on it, facing west, but-

Jack Butala:                       I caught myself being lazy recently. I’m like, “Yeah, I only want to do these deals that are easy, and big, and there’s at least a hundred properties in there.”

Jill DeWit:                           There’s nothing wrong with that. Why, is that bad?

Jack Butala:                       No. I just … I’ve never been lazy about anything in my life.

Jill DeWit:                           Oh. Still?

Jack Butala:                       I’m not sure why that’s … Maybe it’s age? I don’t know.

Jill DeWit:                           You’re right. This is the one area that you do put your foot down. That you will … That’s funny. You just want to get it done and over with, and move on.

Jack Butala:                       Right.

Jill DeWit:                           Other things, like stuff we’re going to talk about next week. You want to get all into it, and get all the answers.

Jack Butala:                       I know.

Jill DeWit:                           That’s funny.

Jack Butala:                       I want to get-

Jill DeWit:                           Maybe because it’s new.

Jack Butala:                       I want to get in and out of a real estate deal, absolutely as fast as possible. Speed is almost more important than money.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       Just keep churning it.

Jill DeWit:                           You know? Even though I wasn’t on last week’s member call, Luke brought up some good things along those lines.

Jack Butala:                       Did you listen to that call?

Jill DeWit:                           I did. The whole call. The-

Jack Butala:                       Wow. Oh my gosh Jill.

Jill DeWit:                           The rooster … I was texting you. Yes, I listened. The rooster and everything. Whole call. Luke brought up some good points, where he quickly did … Also figured out what kind of position I want to be in. If I want to be volume, I’ve got to look at things a different way. This is back to you and your computer.

Jack Butala:                       Yep.

Jill DeWit:                           Volume. Use your computer. Do it right. Be efficient.

Jack Butala:                       You know … Listener. This is why you’re listening to this show instead of how to flip houses, because you don’t have to touch the real estate.

Jill DeWit:                           Yeah.

Jack Butala:                       You don’t have to deal with it.

Jill DeWit:                           Exactly.

Jack Butala:                       So-

Jill DeWit:                           You know? I tell ya.

Jack Butala:                       Put that extra time in, and scale it. Like Jill’s really saying, this is so scalable, but you do it front of windows.

Jill DeWit:                           Right. I love the people that have come to us, that have done flipping, and then they’re like, “Oh. This is like” … They get it quickly. So many of them also said, “I can’t believe how much money I just made, and how much money I lost in the same amount of time, over here doing that.”

Jack Butala:                       Flipping houses, yeah.

Jill DeWit:                           Uh-huh.

Jack Butala:                       Renovating houses, I should say. Flipping houses is great business. Renovating them is awful.

Jill DeWit:                           Exactly. That part … I think people think flipping and renovating are the same thing.

Jack Butala:                       Right. So, do I. [crosstalk 00:12:09]. Thanks to HGTV.

Jill DeWit:                           Exactly. Yeah. They are two different things. Depends on if you … You don’t have to fix it up first.

Jack Butala:                       Jill and I flip a lot of houses. We never see them, ever.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       The people who are going to renovate them go to say yes or no for us.

Jill DeWit:                           Mm-hmm (affirmative). We find them, because Jack has a love affair with his computer.

Jack Butala:                       That’s right.

Jill DeWit:                           That’s true.

Jack Butala:                       It’s inefficient to leave your desk.

Jill DeWit:                           Mm-hmm (affirmative). I hear you. Exactly.

Jack Butala:                       Join us on 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:                       You are not alone, in your real estate ambition. Do you have those sentences memorized yet?

Jill DeWit:                           Totally.

Jack Butala:                       What are you doing right now? Are you-

Jill DeWit:                           I’m sitting at my desk.

Jack Butala:                       … reading the newspaper, or anything like that?

Jill DeWit:                           No. No, I’m all in. I’m all in, and I totally have it memorized.

Jack Butala:                       Good.

Jill DeWit:                           Yeah. What are you doing?

Jack Butala:                       I just noticed that my mute button was on, on my preamp. The whole time.

Jill DeWit:                           Oh.

Jack Butala:                       But if you can hear me, it’s going to be okay for some reason.

Jill DeWit:                           Okay good. That’s funny. Oh my gosh. Hilarious.

Jack Butala:                       Information and inspiration to buy undervalued property.

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