First Step is Always Research (JJ 639)

First Step is Always Research

Transcript: 

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to the Jack Jill Show, entertaining real estate investment talk. I’m Jack Butala.

Jill DeWit:                            And I’m Jill DeWit, broadcasting from sunny Southern California.

Jack Butala:                         Today, Jill and I talk about how the first step to anything, especially real estate investment, is researched.

Jill DeWit:                            Well, you know what, Jack? I have to say, you by nature, that is your first step to anything. I’m talking having a kid [inaudible 00:00:28] research.

Jack Butala:                         Do you think that’s demented or positive?

Jill DeWit:                            Demented. I’m just kidding.

Jack Butala:                         So, on a scale of one to 10, how much does this bug normal people who are walking around who just wanna live their life?

Jill DeWit:                            How much-

Jack Butala:                         And the person that they’ve always gotta pull their phone outta their pocket cause everybody wants ice cream and you have to find the best ice cream place.

Jill DeWit:                            And the cheapest.

Jack Butala:                         And the closest.

Jill DeWit:                            And the one with the most reviews.

Jack Butala:                         Uh-huh.

Jill DeWit:                            On a scale of one to 10, it’s probably an eight.

Jack Butala:                         So, your relationship with me on a scale of one to 10 is an 80% pain in the butt.

Jill DeWit:                            Yes, but I’ve learned to live with it. No. So, here’s the reality. See, this is where I benefit, because for me, by the time it gets to me that you say, “We should go to this Chinese restaurant. They have the best noodles in town.” Oh, I know that’s true because you have pulled it from eight different sources and run an algorithm based on the responses and you weeded out any possible non-legit commenter or person who rated this restaurant so I know it’s gonna be good.

Jack Butala:                         I’m blushing from getting a compliment from [inaudible 00:01:35]. I am, I’m serious.

Jill DeWit:                            Good. You should feel good.

Jack Butala:                         It’d probably disgust 80% of the people who listen to this call, by the way, are disgusted by this whole thing.

Jill DeWit:                            Love it.

Jack Butala:                         Before we get into all that, let’s take a question posted by one of our members, on the jackjill.com online community [inaudible 00:01:57].

Jill DeWit:                            Okay. Gerald H. asks, “Are any of you using online payment processing to wholesale land? If so, what processing are you using? PayPal, Moon, Clark, etc. I have a buyers list of over 400 people and growing. I’m asking this because some of them are asking me this. I’m wholesaling some of the deals and I have the traditional ways that takes time.” So, one of our members already piped in. Luke S. wrote, Heartland is almost done. And actually, as of printing this, it is done, it’s available and we have it all so we’ll get to that-

Jack Butala:                         Heartland is a credit card payment processing system that we provide.

Jill DeWit:                            Right. So, it’s almost done, which it is done, then plan to add on the shopping cart options for ACH, BitCoin, Apple Pay, Union Pay, AliPay, WePay from WeChat, and whatever else you can figure. I can figure fine.

Jack Butala:                         So, Luke, clearly … Not to interrupt you, Jill, but I guess I am anyway.

Jill DeWit:                            Too late.

Jack Butala:                         Luke clearly understands how important it is to make the checkout process for this and anything else super easy.

Jill DeWit:                            Easy. Exactly. Well as Luke just continues to say, “I was just in Shanghai and cash and Visa, Mastercard, look like dinosaurs. They just pay with a QR code, like five checkouts in the time we do one. Goodbye credit card fees and chargebacks. I just visited the future. That place is full of new money.” Well, that’s good advice.

Jack Butala:                         Isn’t it? That’s why I [inaudible 00:03:33]. Every week I get up a list of 15 or 20 questions from our producer and I read through em real fast and I choose the one … And that’s why I chose this one because the way we process payment in this country, it’s even a stretch for most people, stick with me here, it’s even a massive stretch for most people to use their credit card to pay for land anyway and so-

Jill DeWit:                            And then to go take a step further.

Jack Butala:                         Who keeps us down? It’s like the payment processing-

Jill DeWit:                            You know what it is?

Jack Butala:                         We get kept down in a little box.

Jill DeWit:                            It’s society. You know what it is? And I have a personal confession to make.

Jack Butala:                         I wanna hear this.

Jill DeWit:                            Okay. I got the new … About a month ago, I got the iPhone 10 and as you’re setting it all up, part of the process is set up your Apple Pay and I’m like oh, no. I’m not gonna go to that stuff.

Jack Butala:                         Good for you, Jill.

Jill DeWit:                            No. I’m wrong. Luke’s right, I’m wrong, Jack. And you’re part of the problem. So, no offense.

Jack Butala:                         This is bleeding into the real topic here.

Jill DeWit:                            Sorry, but because of society and people I live with, they are telling me, “Oh, don’t do that. Don’t go that next step. You don’t wanna do that. That’s just opening up too much.” But you know what? I don’t wanna be one of those people that shows up in the grocery store with a cheque book because I dug my heels in because this is the right way. No, cause you know what? I’m right now having a revelation and I’m going to admit to everyone right now that today when I’m done with this show, I’m gonna go continue and fill out my stupid Apple Pay on my devices and I’m just gonna dive in and you know what?

Jack Butala:                         I have to rebuke this.

Jill DeWit:                            Well, I will be in the Luke world and we’re gonna be over here doing it way faster and I’m gonna be looking into some of these other things.

Jack Butala:                         How much does it cost to use Apply Pay?

Jill DeWit:                            Free.

Jack Butala:                         How do you know?

Jill DeWit:                            I don’t know, I haven’t gone that far.

Jack Butala:                         This is what this topic is about today.

Jill DeWit:                            Hey, my credit card’s not free.

Jack Butala:                         I know but maybe it’s 12%.

Jill DeWit:                            Well, I will find out.

Jack Butala:                         So, you’ll research it?

Jill DeWit:                            I will research it.

Jack Butala:                         That’s my whole point of the show.

Jill DeWit:                            But my whole thing, my point is, get your head … I don’t wanna say outta the sand, but stop being so 1965 about this with your cheque book and your MasterCard, MasterCharge, cause I’m sure people still say MasterCharge in some places, I’m not kidding.

Jack Butala:                         Here’s what I don’t want. I have to rebuke your whole point cause honestly, I do agree with you. You gotta get outta the old ways, always, with everything, and that’s just constant. Change is constant but I do not wanna sign up for one thing, click yes, I accept the agreement and now that’s the only way I can pay for anything for the rest of my life and the life of the phone.

Jill DeWit:                            Well, then you didn’t read the-

Jack Butala:                         I don’t wanna be rammed-

Jill DeWit:                            How is that gonna be possible?

Jack Butala:                         It happens all the time.

Jill DeWit:                            What?

Jack Butala:                         What browser do you use? Chrome?

Jill DeWit:                            I use all kinds of different browsers. Sometimes I use Safari, sometimes I use other ones, it depends. I don’t like them but Firefox and whatever.

Jack Butala:                         Especially with these devices, not so much on computers, and especially with Apple, when you sign up for some stuff, it locks everything out and you use that forever and you don’t even realize it because you get so used to it.

Jill DeWit:                            I can get into all of them. You can get into all of them.

Jack Butala:                         That’s because you’re smart and I’m smart but if you allow it to just take the easiest path cause you have a life other than the crap that you and I do all the time, it just takes over. You’re paying for something, you don’t even know.

Jill DeWit:                            Oh, I understand. Like on my iPhone, I shut down Safari. I don’t use Safari, I use Chrome.

Jack Butala:                         So, that’s my … Yeah and if you were to actively go do that, otherwise you’d be on Safari the whole time and if you’re new to an iPhone, like you’re eight or nine years old, you’re not gonna think about any of this stuff, you know?

Jill DeWit:                            True.

Jack Butala:                         So, that’s my whole point.

Jill DeWit:                            That’s a whole other show.

Jack Butala:                         No, it’s actually this show. This is the show about this.

Jill DeWit:                            Oh, woops. Sorry.

Jack Butala:                         Today’s topic. Your first step should always be research and I’m glad that we’re doing this with Jill because she clearly needs to hear this. This is the meat of the show.

Jill DeWit:                            Wait, what makes you think I don’t research things?

Jack Butala:                         I think you do research things. I know you research stuff.

Jill DeWit:                            And what makes you think I don’t … Let me back up here.

Jack Butala:                         What tripped you with this Apple Pay thing?

Jill DeWit:                            You know what? Because now I’m hearing from another … Because this guy’s a trusted resource, like you’re a trusted resource. I have a few trusted resources that when they say, “Hey, I just tested this. It worked great. It’s a good idea.” Like online deed recording, things like that. First hearing about this and it’s a third party and I’m like, this can be nothing but bad, there’s a lot of ways this can go wrong, kinda thing.

Jack Butala:                         Somebody tests and they look at it and it’s actually cheaper and better and faster.

Jill DeWit:                            Well, it’s not just somebody, it’s somebody who’s doing 100 transactions a month.

Jack Butala:                         Luke Smith.

Jill DeWit:                            Exactly. Probably more than 100 a month.

Jack Butala:                         So, it’s credibility.

Jill DeWit:                            Right. So, my point is, part of my research is I have researched the right people. How about this? Part of my research is identifying smart people, thank you, because if anybody in the /corner comes up and says, “Apple Pay is the bomb in 7/11 or whatever.” Well, whatever, you’re a ding dong, you don’t know anything.

Jack Butala:                         What are you doing in 7/11 anyway?

Jill DeWit:                            Getting a coke. So, now I’m gonna start paying with my Apple Pay instead of whipping out cash?

Jack Butala:                         They really think it’s gonna cost so much.

Jill DeWit:                            Dude, cash? Come on, just-

Jack Butala:                         I need more research cause Luke’s coming at this like, he’s got a five acre property for sale in [inaudible 00:09:16] County on his website and he wants 17 ways to pay for it and he’s right. He’s right off the bat.

Jill DeWit:                            Totally.

Jack Butala:                         Because all the people who are looking at the ways to pay, one of them’s gonna drink the Apple Pay Kool-aid. That’s what I’m afraid of, getting backed into a corner.

Jill DeWit:                            Well, I will never agree to anything that prohibits me from using any other way like dating.

Jack Butala:                         That’s what dating is.

Jill DeWit:                            I know. Well, I will never get in a long term relationship until I’ve done all my homework and this where girls fail, this is totally true. Girls have one good date, not even good date, one halfway good date, and they think it’s a good date because the guy asks them out again. That doesn’t necessarily mean that it’s a good … There may have even been crying but he asked her out again and so they think this is a good thing and you know what they do? They shut down all dating, they don’t wanna talk to anybody else and they say, “I have a boyfriend.” Well, I will never do that. I will never say, “I have Apple Pay. Everyone else can go away.”

Jack Butala:                         Thank you. Now I feel so much better and I’m not being satirical or facetious, I mean it.

Jill DeWit:                            That’s my point.

Jack Butala:                         That’s all I’m saying is just still question it and still do research.

Jill DeWit:                            Of course.

Jack Butala:                         You can’t just say, this is the way I pay for stuff now. With Apple Pay on my iPhone and screw you, the rest of the world, you’re all wrong. That’s how a lot of Apple people are. I’m wrong, you’re right and my way’s the easiest way, therefore it’s the best way.

Jill DeWit:                            Who is this that you’re talking to that says that cause I know it’s not me?

Jack Butala:                         Most i people that most-

Jill DeWit:                            I people, who the hell are i people?

Jack Butala:                         Most Apple people. They’ll sit and defend it. They will defend their Apple products.

Jill DeWit:                            Do you know what? I’m gonna start doing that. I’m gonna say, “Well, he said i-idiot.”

Jack Butala:                         Here’s what happened [inaudible 00:11:02]. So, I went to this thing-

Jill DeWit:                            You’re on a mission right now.

Jack Butala:                         I went to this golf tournament, this is a lot of years ago, and I showed up in a pretty expensive sports car.

Jill DeWit:                            How many golf tournaments have you been to in your life?

Jack Butala:                         Like three.

Jill DeWit:                            Okay, that’s-

Jack Butala:                         None since I’ve known you.

Jill DeWit:                            Okay.

Jack Butala:                         And so, these guys were clearly … It was a buddy that invited me and all of his friends from a different world were there and I showed up in this sports car and they all really just lined up to criticize me on this sports car.

Jill DeWit:                            What?

Jack Butala:                         Because they’re jealous, you know? And the first question they asked was, what kinda engine’s in this car? And so, I reeled it off and told them all about the engine and actually, the whole history of the car and the car company that built it.

Jill DeWit:                            That’s great.

Jack Butala:                         And they’re all disappointed cause they’re like, “Oh darn, he’s not the [inaudible 00:11:54] we thought. The guys actually can talk to him. He’s not one of these people that just jump on the bandwagon to buy one of these cars.” Cause people who have an extra $35 buy one, like a BMW.

Jill DeWit:                            They were hoping they could take you down, kinda thing?

Jack Butala:                         Yes. Yeah, exactly. So, that’s what I found a lot of Apple product users to be like.

Jill DeWit:                            Really?

Jack Butala:                         If you ask them, what’s the operating system that it runs on? “Well, why would I ever have to know what operating system is on? That’s why I use an Apple cause I don’t have to know anything.”

Jill DeWit:                            Well, I talk to Apple users that are under the age of 70.

Jack Butala:                         And the younger they are, the worse it is.

Jill DeWit:                            Sometimes. You know what? I guess it depends on … Who’s your crowd? I wanna know who you’re hanging out with when you’re not with me.

Jack Butala:                         Who me?

Jill DeWit:                            Yeah.

Jack Butala:                         Just talk to anybody.

Jill DeWit:                            All right.

Jack Butala:                         I can talk about the picture for you right now.

Jill DeWit:                            Okay.

Jack Butala:                         They drive a BMW 5 Series.

Jill DeWit:                            Oh, I am familiar with that, yeah. And now I know who you’re talking about.

Jack Butala:                         And if you ask them about-

Jill DeWit:                            Are they retired?

Jack Butala:                         Well, that doesn’t matter. It crosses all generations, I’ve noticed.

Jill DeWit:                            Got it. All right. Well, here’s my thoughts. I think that-

Jack Butala:                         Wow, thank you for that rant. I feel better.

Jill DeWit:                            Okay. Can I have the soap box back now?

Jack Butala:                         Yeah, go ahead.

Jill DeWit:                            So, the …

Jack Butala:                         Did I stump you?

Jill DeWit:                            Totally. What’s funny about research is I think you go along in life not thinking you need to use research. I’m just using young … I’m gonna use myself as a young kid, like say in my teens, I know that just-

Jack Butala:                         Teenage Jill.

Jill DeWit:                            Yeah. I’m like, “Oh, that’s what everybody’s doing. This must be the way to do it.” And then something goes wrong and you’re like, “Oh, you guys are idiots because you all led me down this path.”

Jack Butala:                         Like yoga pants.

Jill DeWit:                            And thank goodness, I figured it out and I’m gonna now start doing research. For me, that’s how it started. I was like, “All right, I can’t trust everybody anymore cause they clearly steered me wrong. So, that was stupid. Now I’m gonna start doing things my own way and figuring it out.” And it’s important. You’re right. You have to do research, whatever it is. Did you have anything in particular you wanted to talk about?

Jack Butala:                         No, this went way sideways, which was kinda fun cause I learned that … You know what I learned about you? That you’re not the follower about certain topics that I thought.

Jill DeWit:                            No. Are you kidding?

Jack Butala:                         I think you’ll try new stuff if it’s actually-

Jill DeWit:                            Have you seen my hairdos over the years? I was not a follower.

Jack Butala:                         No, I’m sorry to say, Jill, I have not followed your personal hairstyle.

Jill DeWit:                            In my late teens and early 20’s, my mom wished I was a follower. No, no, no.

Jack Butala:                         So, anyway, all kidding aside, if we’re research people … Jill and I have intentionally created Land Academy and House Academy to be full of researchers as our members. We could follow the path, the marketing path that’s out there, the Facebook marketing path, I call it, where anybody and everybody who’s interested in buying and selling real estate and they listen to a couple episodes of this podcast and they laugh a little bit and say, “You know what? This is it.” And then they buy the program and never use it.

Jill DeWit:                            That’s a bunch of fluff or even-

Jack Butala:                         Yes. It’s not real.

Jill DeWit:                            Right.

Jack Butala:                         So, we could go after that market and triple the amount of members that we have probably pretty quickly. We have intentionally created a click phono research … I don’t know. Like a network, almost, online where by the time you decide that you wanna be involved in this, you’re probably the kind of person that doesn’t give up. You heavily research anything before you get into it including an ice cream shop.

Jill DeWit:                            You have to be smart to find this show.

Jack Butala:                         It’s all of that. We could heavily advertise … I think I made my point. I think that people who do a lot of research up front and don’t jump into anything, rule the world.

Jill DeWit:                            Yeah, I think you’re right.

Jack Butala:                         At least they have at least a lot more control over their destiny than people who don’t.

Jill DeWit:                            Yeah, I think you’re right. That’s good advice. I love it.

Jack Butala:                         Start it again, wasted another 15 minutes listening to the Jack and Jill Show. Join us tomorrow where we discuss how debt is bad and equity is good. Sounds like another rant.

Jill DeWit:                            It does. Gonna have fun with that one and we answer your questions. Should you have one, post it on the online community found on jackjill.com.

Jack Butala:                         You are not alone in your real estate ambition.

Jill DeWit:                            We both had to get some stuff off of our … I gotta ask you though, Jack-

Jack Butala:                         We’re both right.

Jill DeWit:                            You unfortunately have a distaste for any Apple things. You love Steve Jobs but you hate Apple. Please explain.

Jack Butala:                         I do. For the reasons that I just said and then we should probably … We lost 80% of our listeners by even bringing this whole topic up.

Jill DeWit:                            Yeah, now we’re kicked off iTunes. Congratulations.

Jack Butala:                         If you’re listening to this show on iTunes, how ironic is that?

Jill DeWit:                            If you work for iTunes, we didn’t mean a word of this and I am gonna go get Apple Pay right now and I’m gonna use it exclusively. I promise and I’m gonna run all of our properties through there, everything. You better believe it. Hey, if you like this, share the fun by subscribing, maybe on iTunes, or wherever you are listening.

Jack Butala:                         Cut us off.

Jill DeWit:                            And while you’re at it, please rate us there. We are Jack and Jill.

Jack Butala:                         Information-

Jill DeWit:                            -and inspiration-

Jack Butala:                         -to buy undervalued property.

 

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