Value of Face to Face Meetings (JJ 592)
Value of Face to Face Meetings
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hello.
Jack Butala: Welcome to the Jack and Jill show. I’m Jack Butala.
Jill DeWit: I’m Jill DeWitt. Broadcasting this week from sunny Southern California where 60 degrees is a tad cold for the locals.
Jack Butala: Oh my God.
Jill DeWit: Have you noticed that?
Jack Butala: This weather is something else. It’s cold for me.
Jill DeWit: Oh my goodness.
Jack Butala: I grew up in a tundra in Michigan. This is amazing to me. You know what I’ve noticed about the weather here? There are four seasons, period. Right?
Jill DeWit: That’s true.
Jack Butala: Unlike Arizona where there’s two but they’re just a lot more mild. So, you get the changing of the, you get the fall and the winter and the rainy season and the summer and the spring.
Jill DeWit: It’s true.
Jack Butala: Not necessarily in that order but they’re so much more mild. In the Midwest it’s just ice. Everything freezes. The ground freezes. The water freezes and then in the summer you can even breathe it’s so hot.
Jill DeWit: Right and sticky and humid and all that.
Jack Butala: The pendulum swings so much further there.
Jill DeWit: I think it’s hilarious because our kid number three who has lived his whole life in Arizona is now, now found himself in Southern California and he’s, he’s kind of a wimp when it comes to the temperature. I don’t know if you’ve noticed that, Jack.
Jack Butala: I want to put him out in the cold and see what happens, like in the Michigan cold.
Jill DeWit: It’s kind of funny. He’s like this is, but it’s 90 and 90 degrees in Scottsdale and it’s 65 here and he’s like freezing and this is ridiculous.
Jack Butala: I wonder if there’s any truth to that old saying like, warm weather thins your blood out?
Jill DeWit: Oh, I don’t know.
Jack Butala: I wonder if there’s any real truth.
Jill DeWit: I do think that it takes different people different lengths of time to get acclimated.
Jack Butala: Yeah.
Jill DeWit: You know, for me it took me a long time to get acclimated to the heat in Arizona.
Jack Butala: Did you ever really get acclimated to it?
Jill DeWit: Not really. Well, you know, yes I did. I think at the end there I really did.
Jack Butala: You knew it was over, maybe?
Jill DeWit: Well, just getting in my car wasn’t so much of a drastic event as it was when I first moved there. When I …
Jack Butala: Jill used, Jill used to carry a pair of oven mitts.
Jill DeWit: Oh, my goodness. I’d have towels … Yeah.
Jack Butala: This car she has now has a wooden steering wheel.
Jill DeWit: Yeah. This …
Jack Butala: Not because it’s a Model T. Just because it’s you know, got a wooden steering wheel for accent, for interior accent but she would wear oven mitts to start the car and drive around.
Jill DeWit: I used to right, when I first moved from Southern California to Arizona and the heat was like, what and you’d, I’d have to, you know you’d wear shorts and you’d get in the car and you’d have leather seats?
Jack Butala: Yeah.
Jill DeWit: I’d have to have a towel there.
Jack Butala: Sure.
Jill DeWit: I couldn’t stand the heat and now, and then over the years and then of course I spent everyday in the mall, air conditioned and the cool warm movies, I would kind of hide from the heat. So, now and then at the end I was kind of used to it, acclimated. It was not that big of a deal.
Jack Butala: Yeah.
Jill DeWit: I could be outside.
Jack Butala: You know what this reminds of is perpetuating stereotypes. So, when I moved to Arizona and I told every, I’m from Michigan, I told everybody you know I’m going to move to Arizona and all the stereotypes came out and I started, I had a whole list I named them.
Jill DeWit: Like that’s where all the old people live.
Jack Butala: Yes but here’s a few of them. Why would you want to move to Arizona? It’s only old people there.
Jill DeWit: It’s the retirement capital of the west.
Jack Butala: It’s hot all the time. Are you kidding me? The seasons don’t even change.
Jill DeWit: Right.
Jack Butala: ASU which is a huge college campus is right next in Scottsdale, Phoenix. So, that, let’s forget about this old people thing. There are retirement communities in Arizona just like there are in Michigan. It’s hot all the time? Uh-uh (negative). About four or five months out of the year it’s hot. You know, two or three of those months it’s unbearably hot. The rest of the time the weather’s perfect.
Jill DeWit: It’s really nice. So true.
Jack Butala: Here’s something that I heard about California that just cracked me up. Everyone’s there is a hippie.
Jill DeWit: Oh.
Jack Butala: That still to this day cracks me up.
Jill DeWit: That makes me happy. I love that comment.
Jack Butala: Some of the most wealthy conservative people. I don’t care about this stuff by the way, either way, right or left. Some of the most wealthy intelligent conservative people I’ve ever met live in California. Southern California.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: They just see it on election day as a state that’s going to go democratic and then, so, like my, there are people that have, I have talked to that said I will never, ever set foot in California for that reason.
Jill DeWit: That’s so funny.
Jack Butala: It’s been wrecking their election day since the 18 …
Jill DeWit: That’s hilarious.
Jack Butala: I know. Total fiction.
Jill DeWit: Right.
Jack Butala: Absolute fiction.
Jill DeWit: One of my favorite observations from people who live elsewhere is that they don’t see any work getting done here.
Jack Butala: Uh-huh (affirmative).
Jill DeWit: They think that all we do is ride our bikes up and down the street hon? Which we do.
Jack Butala: It’s not that far off.
Jill DeWit: We are getting work done. So, I’m here to say …
Jack Butala: Here’s another California stereotype that cracks me up. Why would you want to live in California? It’s all just going to fall off into the ocean anyway.
Jill DeWit: Oh, that’s a great one to share. Thank you Jack. Some of the people like Northern Californians wish that Southern California would just break off and float away. I have heard some San Francisco people say that.
Jack Butala: What a crack up.
Jill DeWit: It was a long time ago though. So, good stuff.
Jack Butala: Here’s to break those stereotypes down, here’s some information and I’m from the Midwest so I’m old school about this but California, if California were a country on its own, not part of the United States it would be the seventh largest economy in the world.
Jill DeWit: I’m doing my part Jack to help that grow.
Jack Butala: If California and Texas got together it would over. It would be the largest economy in the world. Those two states.
Jill DeWit: That’s an amazing fact.
Jack Butala: I know.
Jill DeWit: Thank you.
Jack Butala: It has to do with agriculture and oil and a bunch of other stuff but I’m proud of where we live.
Jill DeWit: Does real estate have to have a, have something to do with all of that?
Jack Butala: That’s a very good question.
Jill DeWit: Thank you.
Jack Butala: I’m now going to say a bunch of stuff on air.
Jill DeWit: Okay.
Jack Butala: I believe real estate itself is not really an industry. Real estate is response to industries, like oil. You know, here in Southern California, we’ve got Toyota, Honda, Northrup, jeez, you name it. I mean it’s a major world class manufacturing headquarters or in, in Los Angeles and not to mention the movie industry. So, real, all these people need a place to live and the more successful that they are the more healthy their real estate environments become. So, I don’t, there is a lot, I’m going to get a lot of email over this. Real estate itself responds to industries. It’s not a, you can’t force real estate. Now, that said if you look at the market in Arizona which is that there is no real economy in Arizona except for retired people. That’s the real economy there and eduction.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: There’s huge universities there.
Jill DeWit: It’s true.
Jack Butala: Those two things have this in common. People come in from other places and they bring their money with them. So it’s not, it is a propped up house of cards type of real estate. That’s not, not to say it’s going to crash at all but it’s not a self sustaining environment, like Texas, the Midwest is totally self sustaining and like industrial goods and services economy like all of California.
Jill DeWit: When you mean not self sustaining you mean that because of a college picked up and moved to another city that was, that very well could sink the ship?
Jack Butala: Yes. That’s absolutely right.
Jill DeWit: Okay.
Jack Butala: Or if the weather got bad and it just became a, well look at it this way. The vast majority of people in Southern California get up and they go to work and they have a paycheck and so they can pay their mortgage. I’m grossly over simplifying. The vast majority of the people in Arizona and if you remove the college and let’s just say it’s a, well the people who go to college and the people who retire there they bring their money with them.
Jill DeWit: Correct.
Jack Butala: Southern California people actually live here.
Jill DeWit: Oh. I’ve, I understand now.
Jack Butala: I’m going to get a ton of emails.
Jill DeWit: This is good.
Jack Butala: It’s just my, those are my thoughts.
Jill DeWit: Love it.
Jack Butala: I think that if you’re in the real estate business like we are and you want to buy and sell houses you want to in general buy houses where, this is an over simplification, where there’s a real economy and there’s a real turnover and the equalizer or the stat that you can smoke out with that is days on market. That’s not to say you can’t do it in, you know, Los Vegas is a retirement destination just like Phoenix. So I’m not, we buy and sell houses in Phoenix, in Nevada all the time.
Jill DeWit: Do you think it makes a difference if your game plan is to flip and get out versus buy and hold?
Jack Butala: No. I just think that, I think you can make, differently make money in both markets just as efficiently.
Jill DeWit: Okay.
Jack Butala: This is more philosophy than reality.
Jill DeWit: I like this.
Jack Butala: You do?
Jill DeWit: Words, words by Jack Butala.
Jack Butala: Oh my gosh. How do you make the, how do you make the fool out of yourself on your own show, by Jack.
Jill DeWit: No. No it’s really good. Don’t say that.
Jack Butala: Entertaining real estate investment.
Jill DeWit: I think it’s very entertaining.
Jack Butala: Mostly false but entertaining.
Jill DeWit: Yep.
Jack Butala: Like a reality show.
Jill DeWit: Yep.
Jack Butala: Today, Jill and I talk about the value of a face to face meeting. Is that all gone away with the Skype and, we’ll talk about that. Before we get into that let’s take a question posted by one of our members on the Jackjill.com online community. It’s free.
Jill DeWit: Okay. Luke asks, so I ran into a guy at the notary today getting a bunch of deeds notarized and we got talking about land deals. He buys land and sells it full time. He’s been doing this for over 20 years. He focuses in on Arizona and more specifically one county now. He used to do all the counties over time. He adds roads, water, power, etc.
Jack Butala: Sweet.
Jill DeWit: This is great. He also has a guy that digs septic systems. He gets a deal because he does so many that the guy takes his backhoe out to the land and digs a 12 foot hole to test the ground and design the septic system for …
Jack Butala: Around the land.
Jill DeWit: The land.
Jack Butala: Wow. So …
Jill DeWit: He literally buys land and gets it tested by his friend for septics and adds septic on paper, plans and phone number to get it installed to the land. So it’s kind of already thought through. Wow. He drills water wells and splits the land up five ways sharing the well.
Jack Butala: I’ve done that.
Jill DeWit: He also, he has house plans he adds to the land. Hearing all this and much more I started thinking, I could add house plans. Why not have a half a dozen house plans all digitized up and ready to go? Different houses sizes to choose from, give them away to all my buyers. Sell the land with house plans that fit the land. Okay it’s a brilliant way to differentiate yourself.
Jack Butala: This is why I include this because I, I’m very, very excited about this and have a lot to say. Go ahead Jill.
Jill DeWit: Uh-huh (affirmative). Should make a lot easier to sell, right? They don’t have, they don’t have to use the plans if they don’t want to. It just makes the land more credible. Maybe someday do this other value adds to, the house plans which has been easy download. I can email them over with the recorded deed. What do you guys think? I’m going to get into licensing trouble with the architects, or am I going to get into licensing trouble with the architects?
Jack Butala: Nope.
Jill DeWit: I probably have to source plans that are not licensed or have copyright clauses attached.
Jack Butala: Or just have them done for you.
Jill DeWit: Right. Maybe cost more so I was thinking maybe Jack and Jill could add on house plans to the program. Might help them sell more programs. This is brilliant. Might help all of us sell more land and might help more people actually move onto some vacant land.
Jack Butala: This is a great comment, Jill. I know it’s lengthy and you have to pay attention but I just, so here’s the thing. Anything that you do online to make your land look different than the other guy’s land who’s selling it online is going to really help and Luke here is taking that way to the end.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: I mean this is not smoke and mirrors. This is hey, this house could actually work here and with this guy that he just met …
Jill DeWit: Uh-huh (affirmative).
Jack Butala: Here is the septic system. I mean it’s custom to the land. So yeah does it cost a little bit of money? Yeah but jeez especially if you’ve got a bunch of property all in one area.
Jill DeWit: Uh-huh (affirmative). Talk about solving a problem for people. Some people can’t envision this and they don’t even know where to start but they know that’s the life they want. They want to be out off the grid and to have that thought through and planned and, I’m wondering if he’s going to take it to the next step and make sure you know, approved by the county. I’m assuming that’s all part of this process, that they know this structure will work and you know, maybe somebody’s even already done it. That kind of a thing, that’s just so much value to the buyer. They don’t have to do it but they have the option and they know what’s possible.
Jack Butala: Here is how I play it out in my head because you and I are famous for saying, do not do anything to the real estate. Just flip it as fast as you can.
Jill DeWit: Right.
Jack Butala: So this is veering from that a little bit but how I would do it is I would express it like this. Here is a guy, here’s the name of the guy that does the septic stuff in the area. He charges X. While we don’t vouch for his work, we haven’t done it but we know that he does custom stuff.
Jill DeWit: Right.
Jack Butala: Here is a digitally embedded image on the internet of what this house would look like right on this specific piece of land. Have we built one like this? No and full disclosure we are told that this could work but we don’t know and we’re not sure about the licensing requirements. It’s not a corporate area in Navajo County, Arizona so we know just through the grape vine that it’s pretty easy to get stuff done here but please check it out yourself. Here is the phone number of the man that you should talk to. So, what I’m saying is we’re not taking responsibility for any of these things. We’re just showing what’s possible.
Jill DeWit: You and I are thinking the same thing.
Jack Butala: If you can do a 3D vision cool house and I’m not talking about, people who, most of the people who buy this asset type, I’m talking about land now, not houses, they just want to get out of dodge.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: They do not, they want, they don’t need a mansion or any of that. They want to buy a piece of property for ten or 15 grand and if it’s got house plans that they can build, even build themselves for 30, 40, 50 thousand bucks, maybe one or two room house and have no bills for the rest of their house and grow some food in the back, that’s our customer.
Jill DeWit: I personally would like to take it a step further and make sure it’s okay. I don’t really want to sell plans to something, to an asset that I don’t know is really allowed. For example, there are areas that we have sold in Southern Arizona, there’s counties where depending on the certain area of the, it’s in the same county and it’s still rural vacant land but the zoning’s a little bit tweaked. There’s certain subdivisions in areas that you have to site built properties. You can’t have mobile. You can do two miles and it looks the same, you can do mobile. So, having that a little bit figured out and gone that extra step on the county …
Jack Butala: Yeah. A couple of phone calls.
Jill DeWit: Exactly. So it’s not a lot of extra work. I’m not saying go, don’t go pull permits and do that for the property because that, you don’t want to waste your time and your money if that’s really not what they want but if you’ve gone a step further and you know this subdivision, all the properties that you own in this subdivision they have to be site built and this meets all the criteria take it and run, then that’s awesome.
Jack Butala: Here’s how you can avoid all of that, by buying property in unincorporated areas and un-subdivided areas and when you look at a legal description, Jill’s a hundred percent right by the way but here’s what you do if you want to avoid all this. If you look at a legal description and it says the northeast at the southeast corner of the northwest corner of Cochise County, Arizona. The APN one, two, three, four, five, you’re not going to have any regulations that, within reason. You will have some state regulations and some county regulations but you won’t have city. It’s not a incorporated land. You won’t have any city regulations or subdivision regulations and those are the problems. City regs and sub regs are the issues and you can smoke all this out like Jill said with one or two phone calls.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: To answer Luke’s question at the end, would Jack and, Jill and I are going to have, are planning to have online education or, in real time in early, in 2018 where you sign up for the class and it’s a big webinar and we all send out mail and we all actually buy property and it’s a very hands on direct way and Luke’s asking if, can we add a house to the program or maybe a module and the answer is yes.
Jill DeWit: Yeah I was just going to add that and say man we don’t have to necessarily do it but at least, that’s the whole point of the online education is we will have a dialogue about stuff like this, all of us together and it’s going to be great.
Jack Butala: Yeah and if ten or 15 people say you know, if you guys had a class on house plans we would really, we would take.
Jill DeWit: Right.
Jack Butala: Then, so then I, then we’ll go through …
Jill DeWit: We’re all share them.
Jack Butala: We’ll go through the work and really, really offer a valuable education situation.
Jill DeWit: Love it.
Jack Butala: If you have a question and you’d like to hear the answer on this show posted on the Jackjill.com online community. Today’s topic, the value of face to face meetings. Are they dead? Are they alive? What do you think, Jill? This is kind of right up your alley actually.
Jill DeWit: I think there’s huge value in face to face meetings.
Jack Butala: Me too.
Jill DeWit: It’s, there’s no better way to really gauge and A, build rapport, build a relationship but even gauge the conversation then face to face. You think that you know what that person’s feeling when you’re talking to them on the phone. You think that they’re, even though they’re saying oh it’s a great idea, they’re going along, there are secret, you know they might have the whole Boris look on their face going you’re nuts, this is crazy. You can’t, you can’t smoke that out but face to face you can really, you can, you can tell.
Jack Butala: So, let me paint a picture and then I’m going to rapid fire ask you a bunch of question about, should you meet this person face to face or is it better that you don’t? So, you own a real estate company and what you do, you’re a data person. You send a bunch of letters out and the whole point to sending these letters out is to buy under valued real estate. So, here is the types of people that you meet throughout the day. You have a wholesale buyer. This is the person that’s your customer, that you buy, you sell, you send all these mail out and there’s sellers and you talk to sellers and stuff, but in the end the guy that pays you, the wholesaler in the house situation he’s the guy who renovates it or in the land situation he’s probably maybe he’s got a big website or he maybe collects property but he’s the guy you sell everything to. Do you face to face meet those people?
Jill DeWit: Yes.
Jack Butala: How, all right. So, good. So, and I agree with you. You definitely want to meet the person that you’re selling the property to on a wholesale basis. Like a guy that buys ten houses a month from you.
Jill DeWit: Yes.
Jack Butala: Or a person who buys 80% of your land, like with us. You want to know that person really well.
Jill DeWit: We didn’t want to go, to build a relationship, I guess for me …
Jack Butala: Send a bunch of mail out to a person who owns like 50 houses and they call you back and they say, absolutely I want to sell my house for 180 thousand dollars. When can we meet? Do you meet that person or not?
Jill DeWit: What do you do?
Jack Butala: No way.
Jill DeWit: Okay.
Jack Butala: I never meet. I never ever meet a seller. I’ve done it twice in my life. Almost 16 thousand deals were done.
Jill DeWit: It’s true. I mean …
Jack Butala: When is the last time you met a seller?
Jill DeWit: It’s been a long time. I have done it. Usually it’s out of necessity and they’re really local and we need to do it really fast and it’s easier for me to meet them in person than to wait to the notary and do all that good stuff but it’s really not, not …
Jack Butala: So the reason I wrote this show is because I think you gravitate towards meeting people and really getting to know them and stuff and I absolutely gravitate toward the other way. I just think it’s inefficient.
Jill DeWit: Okay.
Jack Butala: Like, you just mentioned, well they can’t see what they’re feeling or what they’re thinking. I don’t want to know that.
Jill DeWit: For me, you know what it depends on what the meeting is about. How is that?
Jack Butala: So that’s my point and that’s kind of what this episode is about. Like, there are certain relationships where it’s, I think incredibly important to meet face to face and there are certain relationship, the relationship type dictates the meeting. Yes or no, you know.
Jill DeWit: Right. Like most of my staff and you face to face, bad idea. So, I’m just kidding. I’m just kidding.
Jack Butala: They don’t let me talk to customers anymore.
Jill DeWit: No.
Jack Butala: They don’t let me talk …
Jill DeWit: Maybe that’s what this is about.
Jack Butala: It is exactly what this is about.
Jill DeWit: Okay. So is the real topic why doesn’t Jill let me have face to face meeting with anyone? I’m just kidding. Okay. So, I have a question. Do you think video or Skype video is considered face to face?
Jack Butala: No I don’t.
Jill DeWit: Oh.
Jack Butala: I don’t at all.
Jill DeWit: You don’t see, could you interview a perspective employee, do you think you could have a valuable interview via Skype with a potential employee?
Jack Butala: Yes but I don’t think it has to be the end all.
Jill DeWit: Right.
Jack Butala: It depends, though. If you’re going to work for this person in a office, Jill and I have separate offices. I have a staff and she has a staff and we do totally different stuff and those people we spend a lot of time individually, you have to meet those people and work with them a little bit to see …
Jill DeWit: Right.
Jack Butala: So, but I think like face to face meetings are not dead. If you’re going to be doing a lot of business with somebody I think, I would even take it another step and say you need to be friends with them. People that we wholesale houses to, I like them. I like those people that are people that are like me. They think like me.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: They don’t sweat the details like I don’t.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: They just, they know they’re going to make a certain money per deal and we all laugh about it and have a good time doing it. I like, I like having face to face. Retail sellers, I can’t, I don’t want any part of that. Go ahead.
Jill DeWit: I’ve noticed a shift. I remember when it was all face to face and there was a lot of business travel years ago. We didn’t have the video options. You actually, you were meeting with somebody on the East Coast to discuss a big transaction, you got on a plane and you went to the East Coast and you had a transaction.
Jack Butala: That’s right.
Jill DeWit: You talk about that a lot when you doing, back doing commercial, I don’t know what you want to call it with your …
Jack Butala: Acquisitions.
Jill DeWit: Thank you.
Jack Butala: Commercial real estate acquisition.
Jill DeWit: That was the term I was searching for. Thank you but you did. You traveled a lot. You said you were on a plane more than you were home you know traveling to close these deals. Then I see, then I saw the internet and then all of a sudden business travel but way down. Nobody was getting on a plane and we were all doing video conferencing or conference calls. I saw a spike in all of these internet options to hold meetings and I think that was the trend and it was almost looked down upon that you needed to go. You didn’t need to go. We could just have a video meeting and we could do it you know any day, any time, anywhere around the world. That part I think was also, that was a benefit I think though too is that if you wanted to have a meeting with somebody in Tokyo you didn’t necessarily have to fly to Tokyo. You could have a video meeting. So, those were good but I saw it almost trend a little too much. A little too, get too impersonal.
Jack Butala: Yeah. Me too.
Jill DeWit: Now I see, I think that we swung way too far in one direction and I think we’ve now swung back into the middle and I love it and I think this is a good spot. I personally feel, especially for our business we have a good mix of do we really need to meet this person in, meet this person face to face? We probably don’t. We could have a three way phone call and, and just that’s what we need.
Jack Butala: Right.
Jill DeWit: Yeah and there are some other meetings, like we had a guy come over, come to our office just the other day talking about some of the transactions we’re going to complete here locally.
Jack Butala: He’s a good buyer.
Jill DeWit: Right.
Jack Butala: He’s a wholesale buyer.
Jill DeWit: We know him. It wasn’t a brand new meeting. We didn’t meet him for the first time and that was, may have been part of it because we wanted to talk to him about something else, a new little venture that we’re doing with him and that I think was perfect and it wasn’t a long meeting too. It doesn’t have to be, face to face does not have to be two hours. It doesn’t have to be over lunch. It could just be a 20 minute, hey let’s, why don’t stop by my office event.
Jack Butala: Here’s my whole point. Meetings and talking, you have a finite amount of time during the day and you have to really choose who you’re going to meet with that’s going to benefit you from a money standpoint and an efficiency standpoint. In 99% of the time for me it’s incredibly inefficient to actually talk to somebody.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: Talking and meeting people in person is maybe the greatest way to just get sidetracked and waste time. I think Jill would probably totally disagree.
Jill DeWit: That’s funny. Well, I mean you’re right. It’s, that’s true and the travel time and all of that that’s wasted you have to weigh that against the importance of your face to face meeting. So, I think that’s a brilliant point.
Jack Butala: Which is why I don’t think you should meet a seller. It’s a, you’re going to meet a seller and talk to them? It’s one, one deal and you’re never going to sell them again. If you meet with a wholesale buyer and you do ten deals a month that’s a worthwhile relationship.
Jill DeWit: Correct. You and I have strategically requested face to face meetings with some of our vendors because that’s the best way to get what we want.
Jack Butala: Yeah.
Jill DeWit: Let me give you an example. You bought this up the other day. I don’t remember who you were talking to but you brought it up that we are the only licensed providers of all three of the top data sources in the country, around the world really. So …
Jack Butala: RealQuest which is CoreLogic. TitlePro which is Black Knight.
Jill DeWit: Black Knight Financial Services.
Jack Butala: Data Tree, which is First American Title.
Jill DeWit: First American Title. So, those meetings …
Jack Butala: That was a plug.
Jill DeWit: Right. There’s a few of them.
Jack Butala: We just plugged our stuff.
Jill DeWit: Right, that we strategically met with them face to face because we want to develop a relationship with them. We want to have a great relationship with them. We want them on our team and we wanted to get to, we wanted them to get to know us so we could get the data, get the access and everything that we wanted. So, those face to face meetings are crucial. I think they’re crucial in our business.
Jack Butala: We’re going to be real straight here. When I decide that we should meet, when i [inaudible 00:27:14] when I decide I’m going to go meet somebody what I say to myself is this. All right it’s worth to meet, it’s worth it to meet this guy and we did it with the VP of CoreLogic, RealQUest.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: So, and then what I do is I get in there and I want this person, by the time I leave I want this person to have this notion in their head, man I’d really love to go out with and have a beer with this guy.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: The guy’s cracking me up. He’s got a good attitude about it. He’s obviously successful. Now you can get, you’ve established their trust.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: You can get anything you want. I do not care if a person who owns a piece of real estate wants to have a beer with me. In fact, it’s quite the opposite. I would rather just have them say God I just want this guy’s money and I really don’t ever want to see him again.
Jill DeWit: Uh-huh (affirmative).
Jack Butala: So that’s how I kind of gauge it.
Jill DeWit: Yep.
Jack Butala: You just want to vomit don’t you?
Jill DeWit: No, I’m saying the same thing.
Jack Butala: Oh, good. Okay.
Jill DeWit: No. I’m totally in agreement Jack and I share your viewpoint. Was that a full sentence?
Jack Butala: I hope this is recorded. I hope this is being recorded because I’ve never heard you say anything like that before. Say it again. Say it again.
Jill DeWit: Last time I checked it is being recorded. Jack, i value your opinion and I share your sentiment.
Jack Butala: I’m going to fall over, just fall out of my chair. Hey, say Jack you’re right. Say that.
Jill DeWit: Jack, you’re right.
Jack Butala: Oh my gosh, the trifecta. Now I’m going to go buy a lottery ticket.
Jill DeWit: Oh, yeah. Oh, boy.
Jack Butala: We’ve done it again. You’ve wasted another 30 minutes listening to the Jack and Jill Show. Join us tomorrow where we discuss the essential real estate investor tools that you need and maybe not, some of the them should be the nonessential ones too.
Jill DeWit: I love it and we answered B., initial B. Walden’s question about Title Mind.
Jack Butala: You are not alone in your real estate ambition. Good show Jill.
Jill DeWit: Thank you very much. Did we, I was trying to, I think you and I came into this show with the same views I guess but we just explain them differently.
Jack Butala: Well, my struggle was, you know talking sucks. Talking with people and letting all these multiple personality typed people into your, not multiple personalities. You know what I mean.
Jill DeWit: That’s a whole different issue.
Jack Butala: It just sucks.
Jill DeWit: Yeah.
Jack Butala: You know, people suck. It’s, there’s a mass of variable data is very consistent and but people are hard to deal with and I’m very fortunate, you know I probably should’ve said this on the show, I’m fortunate to have you because you seriously pick up the brunt of the, of the personal crap that goes on.
Jill DeWit: Thanks.
Jack Butala: I don’t say personal crap lightly. I really mean that.
Jill DeWit: Thank you.
Jack Butala: It’s a pain in the butt.
Jill DeWit: I like that you shared, which is true, your time is valuable. So you’ve got to really be kind of picky here. That’s, that’s the truth and I hope that we’ve property conveyed that.
Jack Butala: Exactly.
Jill DeWit: So, that was good. Hey, share the fun by subscribing on iTunes or wherever you’re listening and read us there while you’re at it. We are Jack and Jill.
Jack Butala: Jack and Jill. On information.
Jill DeWit: Inspiration.
Jack Butala: We buy under valued property.
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