10,000 Hours (CFFL 522)

10,000 Hours (CFFL 522)

Transcript:

Jack Butala:                         Jack Butala with Jill DeWit.

Jill DeWit:                            Hey there.

Jack Butala:                         Welcome to our show today. In this episode Jill and I talk about 10,000 hours of experience to become an expert in anything and this is no exception. It’s about five years full-time. Before we get into it, let’s take a question posted by one of our members on the LandInvestors.com online community. It’s free.

Jill DeWit:                            Okay. This is interesting, because this is a question that was asked by a guy. His login credentials are ShamGod and one of our members, Kevin, replied to this, I think a newer member here. I’m going to read this reply and then we’re going to comment. It’s got some good stuff. You’ll figure out what the questions are in this reply. It says, “ShamGod, I have one who is slow to pay and usually, who’s a buyer, and usually calls with excuses why she can’t pay on the first. Somehow she always gets it paid before the late penalty kicks in. Others have questions that they should have asked before buying, but they didn’t think of it until about three months into the payments. Like, ‘Is the property marked,’ or, ‘Can I do blank on this property?’

Mostly just odd questions that keep me on the phone too long. My first mailer was to a county with really remote desert properties. They have almost zero attributes, so they sell slowly. No problem, I can wait. My second mailer was priced wrong and I only bought two properties. One of which I had to return to the seller because she didn’t know which property she was selling.” That’s hilarious, who had these?

Jack Butala:                         This happens, yeah.

Jill DeWit:                            “I’m in the middle of the third mailer now and I have a great response from owners who want to sell. I’m buying up a lot of land. The stuff I have for sale is moving slowly, but there’s a good reason. My properties are far from a major population center and that affects sales. However, the properties were bought cheap and have some great features, so I know they will have to sell at the price I list them for. I get better at this with each mailer. You will too.”

Jack Butala:                         This is perfect.

Jill DeWit:                            It is.

Jack Butala:                         This is perfect for this topic today.

Jill DeWit:                            Oh, it’s true, it is.

Jack Butala:                         Every mailer, and that’s true with us. I mean, now, I mean, our strike percentages are crazy. They’re crazy positive. The yield on the mailer that we get now is fantastic. We’ve just, we’ve been through it all and I’m not hiding anything. I share every single experience that I possibly can with everybody.

Jill DeWit:                            Good and bad.

Jack Butala:                         There’s no replacement for hands on experience.

Jill DeWit:                            Right.

Jack Butala:                         It’s just, it’s that way with-

Jill DeWit:                            What’s it called? Saddle time.

Jack Butala:                         Saddle time. Right. Yeah, saddle time. I used to causally race motorcycles and that’s what we used to call it, man. The more saddle time you can get, especially with a new bike or a different model bike, the better you’re going to be.

Jill DeWit:                            Exactly. Do you want to comment more on the- That was just so good I just wanted to share it.

Jack Butala:                         No, it’s great.

Jill DeWit:                            Let’s dive into the show.

Jack Butala:                         It’s great. I mean there are people that… there are people that come to us, to land investors, from all walks. You know, some people are literally this is their 30th… they’re three decades into this thing. They’re in their 50s or 60s and they found out about… they’re in their 50s or 60s and through flipping real estate and they just found out that you can send these blind offers out like this…

Jill DeWit:                            yeah

Jack Butala:                         And so they just have heyday with this

Jill DeWit:                            Oh, totally.

Jack Butala:                         It’s like Christmas time.

Jill DeWit:                            Or they’ve been doing…they’ve been hitting their heads against the wall. I talk about that with all kinds of other property types and they’re like oh my gosh, this is so easy, you know I don’t have to have a lender, I don’t have to deal with an inspector, I don’t have to deal with this and that… wait, wait wait wait what do you mean a buyer and a seller and that’s it? So…

Jack Butala:                         Some people are brand new and they’re killing it. So and some people it just doesn’t work. I think usually just because they don’t put the time in which is really what the show is about. So, actually let’s get into it. You got a question or you want to be on the show, reach out to either one of us on landinvestors.com. Today’s topic: 10,000 hours of experience. This is going to be a good show. So, the whole concept of this comes from a question that Jill and I get together and individually a lot. How long is it going to take? How long does this take? How long is it going to take to do my first deal? How long does it take to get my mailer done? How long…

The answer is, it’s up to you. I mean, we could provide the cash flow from land program itself and the programs that are following it are incredibly detailed. But they’re still only an example of how we do it and how it works best. The most successful people that are in our group, report… the ones who report back to us, a lot of them we never hear from again cause they’re so successful and just go off and do it but it all comes down to spending saddle time.

Jill DeWit:                            It does, I have people that don’t even know… they’re in this situation they don’t even know how to ask that question, but they’re not patient. They’re like ” I can’t get this to work, I don’t know how to do this, I don’t have this.” You know, I had one the other day who was asking a question and he was very sweet. It was a question in RealQuest and I’m like, oh you need to spend some time you know, it’s like I can’t hold your… and even if I did hold your hand, you know what I mean, I can’t… you need to do it yourself. There’s things that you have to learn and feel it and know it and get used to it yourself. It’s like a car, you know how brand new cars kind of, they kind of, the timing…

I think they still do it even though they’re all computerized but you know it kind of… cars adjust to the drivers. Your seat adjusts, you…but whatever. But you know the cars actually really do. I can’t drive your car around and it’s going to adjust to you, it’s only you and you need to feel that car…

Jack Butala:                         Yeah

Jill DeWit:                            You need to…

Jack Butala:                         Right.

Jill DeWit:                            Learn that yourself. So, I can give you all kinds of information but you still got to get in there and do it and feel it so, my point was, I have people that don’t even ask me Jill I’m just not getting it, I know they’re asking questions and I have to nicely say “you know what, you need to spend a week on that. You probably should spend all weekend literally playing in realQuest or Title Pro or playing with… downloading data and getting real good at you know, in Excel or talking to people, talking to sellers, talk to more sellers if you’re not comfortable. You… all these things, it’s you, you got to spend the time and it’s nobody…it’s only. I don’t want to say,,, go head.

Jack Butala:                         Here’s what I learned in 11th grade Spanish, I had a, obviously a teacher, we all have teachers we’ll never forget and some we want to forget. But this is one that I’ll never forget…

Jill DeWit:                            That’s very true.

Jack Butala:                         for a real positive reason. My Spanish teacher, throughout, I had him…I ended up having him for two…three years and he came to us and constantly repeated this. He said, “every single one of you in here have…it takes different, a different amount of time to learn and do this homework and learn this lesson, learn the lessons that I’m teaching. Some people are going to walk out of here and they’re never going to have to study at all. They’re never…they just got…they hear one translated Spanish word and that’s it. Some people are going to have to spend six hours a night to learn the same thing that that person who just walked out of the classroom, so it doesn’t mean you’re stupid or less intelligent…no, what it means is, that’s just the way it is and really you can’t fight it.”

So, a lot of people ask us a lot of questions about stuff that I can tell, you can tell by the way they’re asking it whether or not they’ve actually taken the time to really look into it before they ask the question. And so, I’ll tell you and everybody…so there’s some stuff, you know Jill and I are relatively intelligent I’m not afraid to say, we’re particularly intelligent for some reason about this. I don’t know why but…

Jill DeWit:                            I know.

Jack Butala:                         I’m good at data, Jill’s not so much good at data but she’s good at some other stuff that I’m…

Jill DeWit:                            I have learned.

Jack Butala:                         not good at.

Jill DeWit:                            You know what else…

Jack Butala:                         Hold on a second. So, here’s my final point, respectfully hold on a second. I have a tremendously high threshold patience threshold for computer stuff. I have since the Appleton PC came out in I think the 70s and I just do…i’ll sit for…I’ll sit until I forgot to take a shower, it’s all dark, two days can go by and I forgot to eat and that’s just the way it is. With people, and talking on the phone with a seller or buyer, I have absolutely no patience, none, and…

Jill DeWit:                            That’s okay.

Jack Butala:                         So, you have to really look at yourself in the mirror because this career, this 10,000 of experience topic that we’re talking about, is staying in front of the computer and constantly…

Jill DeWit:                            And talking.

Jack Butala:                         Learning and re-learning computer programs and more efficient ways to do things and learning and re-learning and talking. You can reduce a lot of the talking through [inaudible 00:08:56] and everything else.

Jill DeWit:                            And e-mail.

Jack Butala:                         Right, but that’s what it is and so you really have to be honest with yourself about that.

Jill DeWit:                            Well, I was going to say that it doesn’t mean that there’s anything wrong with you and it’s not that you can’t learn, because let’s be honest, was I…did I know how to scrub data when I cam in there, what this was all about? Heck no. Have I learned my way around? Yeah. Did it take me longer than Jack? Heck yeah. He’s a natural at it, so what. That’s okay, it took me longer, I put in the time, I wanted to learn, so that’s my thing too. Some parts of this, I think like some parts of everything will come naturally to you, that’s great. Focus on that but you still, especially when you’re new, you need to learn the other pieces but then you want to hire that out or sub that out or something? Something you don’t like? Heck yeah.

Jack Butala:                         I just did the math, you know, I was in land investing for about 15 years before I…before you got involved, so…

Jill DeWit:                            Call that BJ, before Jill.

Jack Butala:                         That’s not…yeah. So, you know 10,000 hours, that’s 30,000 dollars of experience so you know and I still make mistakes, all kinds, it’s not with data usually, but…

Jill DeWit:                            Right.

Jack Butala:                         All kinds of stuff. So, if you want to…if you are sitting here listening to this, and you want a career, or you have a career and you want to make it way better, this is a darn good thing. What if you spend 10,000 hours sweeping a floor? Man, you’re getting good at it. Is that a good idea or a bad idea? Depends on the person. But I’m saying if you want to really…you’re going to spend 10,000 hours on something from this point forward and 10,000 hours later, you’re going to spend it on something you could be…maybe it’s practicing hockey, maybe it’s being an auto mechanic, maybe it’s going to medical school, maybe it’s real estate investment. So that’s up to you. [crosstalk 00:10:54] inspirational.

Jill DeWit:                            It kind of is. Well, no I’m glad because I’ve talked to people recently that are having some little motivational hiccups and I think it’s because they were not giving themselves enough time. I think that they watch our program once and they think I should get this, I should be a pro, I should do this and they’re not…you need to be patient with yourself. That’s okay. You know what, do you know how many times most of us have watched chapter five? A lot. We all joke about chapter five cause that’s like the real me getting in and really [crosstalk 00:11:24] understanding it.

Jack Butala:                         The writer, producer and the star of chapter five and…no one can complain about how hard it is because I win. It was way more hard to produce that damn thing than it was to watch it.

Jill DeWit:                            Oh, than it was to write, it record it, produce it…

Jack Butala:                         You think it’s hard to watch, try recording it.

Jill DeWit:                            Oh, I know. I remember editing it, I was like holy cow, that was hilarious. But…

Jack Butala:                         But it’s worth it.

Jill DeWit:                            It is. So yeah, this is one of my things I want to make sure too, please don’t beat yourself up, don’t think this is not for you, don’t give up because you didn’t get it right away. So what. Give it some time, come back…you know what, maybe even take a weekend off or a week off, I don’t know. Let it all sink in and then you might be surprised when you come back in a different frame of mind, you have a different…you have a rest, you do something else you know, you might go oh, now I see it, you know. And there’s lots of moving parts to anything and you have to… it just takes time. Takes 10,000 hours.

Jack Butala:                         That’s a beautiful California approach to that. That’s exactly what I would not do.

Jill DeWit:                            What? Oh no, that’s hilarious.

Jack Butala:                         I’m not going to cut myself some slack.

Jill DeWit:                            Oh no.

Jack Butala:                         I’m not going to take some time off and ponder it. I’m going to get back in there, get back on the horse…

Jill DeWit:                            Jack, Jack, Jack, Jack, Jack, Jack…

Jack Butala:                         Pull myself up. How many cliches can I say in one sentence?

Jill DeWit:                            Jack, Jack, Jack…

Jack Butala:                         pull myself up by the boot straps and figure it out. If your property’s not selling as fast as you want it to, get out there and sell it. Take personal responsibility for it. If you price the mailer wrong, that’s okay, it happens, I do it even still. Get back out there and price it again, that’s my point. It’s going to take, before you can really just sleep all the way through the night and know there’s hoards of money coming in. It might take somewhere up to 10,000 hours. We want to double your money next month, this also can work very well if the light bulb is going off, if it’s not, go make canoe’s, I don’t know.

Jill DeWit:                            Boy, you just don’t like the Southern California way of doing things. I get things done too, Jack, by the way.

Jack Butala:                         You know what, in the end, I think we’re at the same finish line.

Jill DeWit:                            We really are.

Jack Butala:                         It’s the tortoise and the hare, you know.

Jill DeWit:                            It is. That’s so darn funny. Oh my gosh.

Jack Butala:                         Join us for another episode where Jack and Jill totally debate each other.

Jill DeWit:                            Oh my gosh.

Jack Butala:                         Usually information, that’s me.

Jill DeWit:                            And how to get to the end without killing each other, inspiration, that’s me. Just kidding.

Jack Butala:                         Just about anything you really don’t want.

Jill DeWit:                            We use it every day or every other day, if you take one off, if you think about it, to buy property for half of what it’s worth and sell it immediately.

Jack Butala:                         You are way more alone in your real estate [crosstalk 00:14:19]than you think.

Jill DeWit:                            Oh my gosh. There’s nothing wrong with taking a break.

Jack Butala:                         Oh, Jill.

Jill DeWit:                            Sometimes you need a break. I need a break.

Jack Butala:                         No, you’re right. Absolutely. You’re right.

Jill DeWit:                            But do you know what, that’s a whole other point and that would be another topic that we should talk about, Jack. The way I process things and the way you process things, nobody’s right or wrong, they’re just different. Jack comes up with an idea and he barrels through and that’s his way and he just kind of…it comes together while he’s working out all the mish mash, I guess, I can’t think of another way to explain it. Me, I come up with a good idea, I have to sit down for a moment. I got to think about it. I even take a half day. I got to ponder, I got to think big picture stuff. I sleep on it, I really do, I’m one of those people that I really go to bed, Jack you know this, I’m one of those people that I ask…I go to bed with a question and a concern on my mind and I know that I’m going to sleep on it and it’s going to come to me and I…

But that’s not the way you do things and that’s okay.

Jack Butala:                         There’s no question in my mind that we are better together than that…

Jill DeWit:                            Yeah.

Jack Butala:                         about this, socially and professionally.

Jill DeWit:                            Thank you.

Jack Butala:                         So, you know what I mean, you would have constantly just said you know what, like 20 years ago I would have said, this is not…oh I don’t want this.

Jill DeWit:                            Right.

Jack Butala:                         I don’t want this kind of… I would call it like a interference.

Jill DeWit:                            Oh.

Jack Butala:                         Not just totally our side.

Jill DeWit:                            Right.

Jack Butala:                         Maybe it’s because I have the 10,000 hours and I don’t know.

Jill DeWit:                            He’d be saying, “what are you doing, you’re goofing off over there and I’m like, “really, I’m working trust me it’s better.”

Jack Butala:                         Yeah, or like you’re holding this whole thing back, get on the phone and call them back. But you have your way of doing it and it turns out your way of… half of what goes on in these companies, your way is better than mine.

Jill DeWit:                            50/50, Jack.

Jack Butala:                         Yeah.

Jill DeWit:                            Thank you.

Jack Butala:                         Information and inspiration to buy undervalued property.

 

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