Our New JackJill Show – You Tell Us What You Want (CFFL 534)
Our New JackJill Show – You Tell Us What You Want (CFFL 534)
Transcript:
Jack: Jack Butala with Jill Dewitt.
Jill: Hi.
Jack: Welcome to our show today, in this episode, Jill and I talk about our new Jack Jill show. This is all about …
Jill: What’s coming.
Jack: What’s coming, and what you think the show should be about. Before we get into it, let’s take a question, posted by one of our members on the land investors dot com. Online community. It’s free.
Jill: Okay, Allen asks, “is anyone else having problems posting property on land pin?”
This is funny. Oops! How’d this get in there?
Wow, all right. This is good. I fill out the new listing info and when I click the save button, the website grays out and just says “saving”. This is hilarious. I have tried to list this one property four times now and the same thing keeps happening. All right, so we just got a tech support question that made it into our show. So, I’m …
Jack: I’m gonna answer it.
Jill: All right, tech support Jack. Go for it.
Jack: It has to do with how you signed up. And so there’s no way you could know this. It happens to like, three people of the … I think that site has a thousands of people so …
Jill: That’s hilarious.
Jack: Please email Erin at land academy dot com if you’re having issues. She’s the manager of that whole line of business and she’ll get you straightened out real quick. In fact, chances are Allen, you’re way past. By the time this airs, you know, you’ll be all set.
Jill: It’s fixed, that’s hilarious.
Jack: This does bring up a good point though.
Jill: I think this is really funny, I feel like somebody wanted to get this … someone’s like frustrated and put this in there on purpose.
Jack: This does bring up a great point, so, and the point is … Jill and I, we start these lines of businesses like land pan, parcel fact, land crowd fund, land tank, and on and on and on, there’s a bunch of them. And, we put a manager at the top of it and that person runs that line like it’s their own business. With their own plans, and Jill and I just kind of help out. So, all kidding aside, this kind of just snuck in here and I’m glad it did.
Jill: I think it’s hilarious.
Jack: It gave us an opportunity today …
Jill: To see what’s going on in our business.
Jack: It gave us an opportunity to talk about our business structure and stuff.
And we modeled this whole … built a moat around it. Jill, as Jill calls it, “built a moat around these lines”. They’re separate companies; after Berkshire Hathaway. That’s what they do. He doesn’t go to … You don’t go visit the company every day that you own. Especially if you own 50 of them; In fact you probably don’t ever go.
Jill: You can’t, it’s not possible.
Jack: Warren Buffet doesn’t sit around and talk about Sees Candy.
Jill: It’s even … Just within your business, you don’t spend … You’re not sitting with the accounting people one hour every day, and then the billing people an hour every day, and the customer service people an hour every day. You have to put them in place with the right tools and the right resources and trust them and let them go.
Jack: And the right manager.
Jill: Yeah.
Jack: You have to put the right manager in, and hold that manger accountable.
Jill: Yep.
Jack: So there’s clearly, what I’m sure is now a past problem, but … This is a good example for us to talk about. I mean, it’s a good spark to talk about that.
Jill: That’s really funny.
Jack: If you have a question, and you want to be on the show, reach out to … or you want to be on the show, reach out to either one of us on land investors dot com. Today’s topic, our new show. Which, I’m excited about. It’s called the Jack and Jill show. What do you think the show should be about Jill? I blind … by the way, I blindsided Jill on this whole thing. She didn’t even know what this show was gonna be about.
Jill: Yes. So, here’s my thoughts. We …I don’t know how much we’ve shared this, but, our underlying goals, they change and shift. Not a lot, but they do as our business has grown and we’ve taken on new projects and work with different people, and … You know how it is, I mean, we … Three years ago did we think we’d be working out trying to be a credit card payment gateway for anything real estate related? Heck no. I don’t know about you, but that was not on my radar. You know?
Jack: Land academy three years ago was not anything that I thought was … I didn’t even think about it. We were buying and selling dirt and that’s it.
Jill: Right. I think we started the process but, I mean maybe … I was thinking about it. You know? Back then. But, it was on my radar. But, this? The … Some of the stuff we’re doing right now is not on my radar. So, what’s great about how I think our business has grown and our community has grown, and what we’re doing has grown; we have uncovered a lot of interesting stuff and figured out a lot of things. So, my personal goal really is Jack … And I know you’re on the same page here; I really want tot change the way the whole world buys and sells real estate. That’s the thing.
Jack: Yeah, now you’re talking.
Jill: I am tired of everybody thinking like sheep, that we have to do something a certain way. And, you know … You’ve probably watched us evolve. It went from land academy dot org to dot com to land investors and to …
Jack: License data provider.
Jill: All these are the things that were like … Let’s be honest, we’re thinking beyond land, and the deals that we’re doing are beyond land. We still call it land right now, but, everything we do is kind of beyond just land. It’s other property types; it’s all property types. And what we have figured out, and how we are changing the way you buy and sell land; and making it easier for everybody. Come on, it’s a fact. A lot of this applies to real estate in general, and that’s what … I hope I’m not letting the cat out of the bag, but …
Jack: No, I think this is perfect. This is exactly what I wanted to happen here.
Jill: Okay. So this is my goal. My goal, and I don’t mean to put people out of business. But some careers might change. But, we’ve got to stop doing real estate like it’s 1959. That’s ridiculous. And stop getting up every morning and scouring the MLS because you think that that’s the only place you’re gonna find a deal. That’s ridiculous. I want to make this for everybody.
Jack: So it should be called the Jack Jill show, changing the way people buy and sell real estate.
Jill: Bingo. I’d like that.
Jack: Me too.
Jill: I’d like that.
Jack: Several months ago, Jill and I … because we’ve been thinking about this and talking about it probably obsessively.
Jill: Yeah.
Jack: Decided to test it, because I’ve always had this theory. We bought a house with an investor, in the center of the country in a pretty average market; for less than $100,000. And how did we buy it? Oh guess. We sent a bunch of letters out. Somebody signed one, and said “heck yes, I would love to sell you my house for cash and then go through escrow by Thursday, or Saturday”, or whatever it ended up being. It took us two weeks to close the deal. And while that was getting closed, Jill and I sent a note to everybody.
If you’re a land investors member or if you listen to the show regularly, none of this should surprise you. Sent a letter letting everybody know within a mile radius that the property is for sale and that they can walk through it on Sunday between one and four or whatever the numbers ended up being. I don’t remember. Bear in mind there’s no real estate agent involved. There’s no lender; there’s no inspector. All the people that take money out of your pocket in a real estate transaction are not involved. And the note said, “You’re welcome to walk through the house. We’re selling it for X, and it’s a cash deal only.”
So if you plan on getting a loan, please, this deal is not for you. And it sold that day. Which, proves my theory. We’ve been doing this with land … 15,000 deals we’ve done just like this with land. That this can be done with houses. And by the way, you’re welcome to go get a mortgage afterward, but you’ve got to come up with the cash to buy the house. And then … As is where is, there’s no negotiating. We don’t negotiate the price and we don’t talk about the condition of the house. That’s why you get to walk through it. And the deal either works for you or it doesn’t.
My theory is this; you don’t need a real estate agent.
Jill: I agree.
Jack: 50% … 50% to 60% of the real estate in this country doesn’t have a mortgage on it. There’s lots of ways to come up with money if you need it to buy a piece of property. Without getting a mortgage on that property in a silly way.
Jill: Exactly.
Jack: You don’t need to go to the MLS. Here’s another story, the owner of letter stream … I met with him about a year and a half ago. Letter stream is a printing company that we have an agreement with that provide as unbelievable service for less than the price of a stamp. Literally. The whole thing, you can get a mailer out. I met with the owner, described my business model about a year and a half ago, and he … And my model was, “Oh yeah, so if you want to buy a house even, you can … talk to your wife, find out what the subdivision or area you want to be in, send everybody a letter.” And he did. He bought a house for $200,000 less than anything else on the MLS and he did it that month.
So, people; we don’t need no stinking real estate agents.
Jill: I know, I hate to say it but it’s true. I know.
Jack: Being a real estate agent, is not a career.
Jill: Oh that’s the funniest thing. Let me back up and say, Jack’s little sister is a real estate agent, so, let me preface that. She might agree.
Jack: Yeah, she probably does.
Jill: [crosstalk 00:09:31] We really have them in our family. My Mom did it for a while. My Mom …
Jack: Because your Mom’s from the 50’s right?
Jill: You know what? No. You know why my Mom became a real estate agent? To buy a house. She wanted to have the inside track. Well you know what? See, so let me back up. I think she was on the right path. My Mom was thinking ahead, and my parents, thinking that, look, we don’t want to go through a real estate agent, but we think we need to have … be or have a real estate agent, so we’ll become the real estate agent so we can keep the commission. Which, was brilliant by the way.
Jack: Yeah.
Jill: The house they bought was by the bank. So really in a round about way, they bought the house without an agent because my Mom just learned how to close a transaction if you will.
Jack: I mean real estate agents don’t close deals anyway.
Jill: Right.
Jack: In fact, most of them don’t even fill paperwork out.
Jill: This is true.
Jack: The escrow agent … By the way, I have nothing but respect for escrow agents.
Jill: Right.
Jack: So, you know, yeah, you need an escrow agent to manage the deal, manage the money, and make sure the stuff gets recorded properly. And all that.
Jill: Exactly.
Jack: So, please continue. Being an escrow agent is a career.
Jill: All right let’s … [crosstalk 00:10:35] I want to play a game.
I want to say … give a job and you say career or not a career.
Jack: Okay.
Jill: TV Producer.
Jack: Career. Total respect.
Jill: Actor.
Jack: I don’t know how to answer that.
Jill: Photographer.
Jack: Career.
Jill: Recorder.
Jack: What kind of recorder?
Jill: County recorder.
Jack: Necessary evil. I don’t think so, you can like electronically record everything now so …
Jill: Model.
Jack: No. That’s what CGI is for.
Jill: Accountant.
Jack: No, you don’t need an accountant anymore.
Jill: Well is that a career?
Jack: You need a person to do your taxes.
Jill: Is an accountant a career or not a career?
Jack: It’s a career; it’s still necessary but almost not.
Jill: Investor.
Jack: Absolutely career. That’s my career.
Jill: Is it really a job?
Jack: My God.
Jill: I’m just kidding. Is it a career or is it just a …
Jack: I didn’t know this was a roast.
Jill: Or is it just a license to take every afternoon off?
I’m … I own my own personal investment company, I don’t have to show up.
Jack: So, that means you just don’t have a job then?
Jill: Pretty much.
Jack: Somebody said that to me recently.
Jill: Yeah.
Jack: What do you do? I have a real estate investment company. Oh, so you don’t have a job? Pretty much.
Jill: Exactly. Oh, that’s so good.
Jack: They were looking down … They were serious. They were like, you’re just snowing me. You don’t even have a job. It was … they were serious.
Jill: It does sound like a made up thing. Like, I’m just gonna confuse you by this. I’m gonna throw something out there.
Jack: Right.
Jill: That’s really good.
Teacher?
Jack: Oh Geez, nothing but respect. Total career.
Jill: Okay, thank you.
Airline pilot.
Jack: Temporary career.
Jill: Politician.
Jack: Oh Geez …. Pass. Pass on that.
Jill: Okay, that was fun. I just wanted to …
Jack: That’s it?
Jill: You want me to keep going?
Jack: I’ll go. Can I do it?
Jill: You’re gonna try? Okay, go ahead.
Jack: A seamstress. Tailor, I should say.
Jill: Career.
Jack: I think so too.
Jill: Yes.
Jack: Interior decorator.
Jill: Not really a career.
Jack: What? How could you live without interior decorators man? They change your life. I can’t believe you.
Jill: What the heck?
Jack: I have respect for that.
Jill: Really?
Jack: Yeah. I can’t decorate out of a paper bag.
Jill: I mean, I’ve kind of done that job a little bit. But, I don’t really see this like … I don’t know. There’s no pension there.
Jack: Personal electronics importer.
Jill: Personal electronics importer? Career.
Jack: Okay. Because, you’re just buying crap from China or Japan and sending it over here, marking it up.
Jill: Well, yeah. Sales. I don’t know.
Jack: I mean it’s sales. Sales person.
Jill: Career.
Jack: Wow.
Jill: You don’t think that?
Jack: No, I don’t. I think it’s a great way … I mean, I think it’s important but, the way the internet is; I’m not sure.
Jill: Interesting.
Jack: I don’t … We have to deal with sales people right now. You and I.
Jill: Right.
Jack: Inbound sales people, because we have vendors and stuff. And I’ll tell you, I’m half as likely to buy something from a sales person versus just clicking on the internet.
Jill: Well, you know what though? I have to tell you. A sales team put that together, the way you are enticed to click it on the internet.
Jack: Okay, fair enough.
Jill: Thank you.
Jack: I know you’re right. You mean marketer then, not sales. I mean I should say marketer.
Jill: No, I should say sales.
There’s a sales team that’s really focused on your whole user experience.
Jack: Like there’s somebody working at Amazon that’s looked at my whole thing …
Jill: Absolutely.
Jack: Make sure the right stuff pops up.
Jill: Come on, all the thing that pops in your box? That’s … Come on …
Jack: Box popper.
Jill: That’s it. Box Popper.
Jack: No, career or [inaudible 00:14:24]?
Jill: Career. All right. Podcast host.
Jack: Oh Jesus, God.
Jill: Not a career.
Jack: No. That’s a hobby at best.
Jill: Comedian.
Jack: That’s a career.
Jill: Really?
Jack: Oh man.
Jill: All right.
Jack: People have to laugh.
Jill: Well they can’t make a lot of money on that though. Most of the comedians I know … Well, there’s like big comedians, but the other comedians are driving Uber part-time like the guy you had the other night.
Jack: I know, I got in the back of a car. Funniest person I’ve ever met in my life, this guy. I mean, I’m like man …
Jill: We’ve got to go see him.
Jack: Yeah. So we will.
Jill: Okay.
Jack: I guess we’ve successfully destroyed this topic.
Jill: I think we did. This is …
Jack: So it’s Jack Jill. The Jack Jill show. Changing the way you buy and sell real estate.
Jill: I want that. I think that would be perfect.
Jack: If your a woman or a man, and you have to sell your house and you … because you want to buy a new one, and you’ve got a couple little kids and you need a bigger house. Totally legitimate reason right?
Jill: Right.
Jack: What do you do now? You call a real estate agent. What you should do, is fill out a simple little thing on the internet that says I’m interested in selling my house next week, and I’m interested in selling it for X. That needs to get in the right people’s hands. The people who, that’s their career. Right? Also, the people who live let’s say in a one mile radius; because they’re most likely to buy it. And that deal should be done. Very quickly.
Jill: I agree.
Jack: It doesn’t need to go into the MLS, and you have a bunch of people run through your house, and you’ve got to clean everything up, and it … You know …
Jill: Right. Bake cookies every Sunday.
Jack: There’s lots of facets to this. The Jack Jill show. Buying and selling real … No; Changing the way people buy and sell real estate. We’ll figure it out.
Jill: We will.
Jack: Join us in another episode, where Jack and Jill discuss how to use information that’s me.
Jill: And inspiration, that’s me.
Jack: Just about anything you want.
Jill: We use it every day to buy property for half of what it’s worth and sell it immediately.
Jack: You are not alone in your real estate ambition. I’m glad that we got that out of our systems. It’s just been you and I talking about this forever.
Jill: I know. When do … Do you have a target launch date for that?
Jack: Yeah. I do actually.
Jill: When was it?
Jack: When was it?
Jill: Yeah. I know we obviously missed it. So, when was it supposed to launch?
Jack: It will be launched before the end of the year.
Jill: Oh. There you go.
Jack: Everything is like launching a website and stuff; all we have to do is just you know … like six things.
Jill: 2017. All right, we better hurry.
Jack: Information and inspiration to buy under valued property.
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