Make Mistakes at 100 Miles an Hour (LA 731)

Make Mistakes at 100 Miles an Hour (LA 731)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi!

Steven Butala:                   Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.

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

Steven Butala:                   Today Jill and I talk about … if you’re going to make a mistake, make it at a 100 miles an hour.

Jill DeWit:                            Like on these shows?

Steven Butala:                   This whole show is one big, long mistake. We are on episode 731 of our long mistake.

Jill DeWit:                            And we’re still making mistakes.  Maybe by a 1000. Make mistakes at a hundred miles an hour and 731 times.

Steven Butala:                   Actually that’s a pretty good pre-lit into this whole thing.

Jill DeWit:                            There we go.

Steven Butala:                   No, this show … we all know what the show’s about. You don’t want to be timid.  You want to go into something barrelling through it. I’m going to tell some old sports stories when we get all into the show.

Jill DeWit:                            Oh, I’m glad I have my nail polish.

Steven Butala:                   I know, exactly. Oh my God, you do have nail polish today.

Jill DeWit:                            I do have nail polish.

Steven Butala:                   Before we get into it, let’s take a question posted by one of our members on the landacademy.com online community. It’s free.

Jill DeWit:                            Okay. Gary asks: “Hello, everyone. All of my sales to this point have been in the range of $2,500 and under. I recently been making purchase in higher price points. I now have a parcel for sell, which is in our contract to sell for $7,999, and the purchaser wants to use a title company to perform the closing. They’ve agreed to pay all the fees associated with the title company,” it’s going great, “My purchase price for the property was only $1,999, so I did not pursue title insurance when I purchased. I’m wondering if this will become a problem with the title company. Does anyone have the name of a title company in Arizona, which is good to work with in regarding land transactions, but-“

Steven Butala:                   Yeah. Well, I’ll answer the last question first. Call Dora Goodmiller. They cover the whole state of Arizona, but they are out of-

Jill DeWit:                            Is she like Apache or way up that area?

Steven Butala:                   It’s closer to Vegas; Kingman.

Jill DeWit:                            Okay.

Steven Butala:                   There out at Kingman. Her sister Denise used to be the treasurer from Mohave County and that’s how I found out about her. And she’s jumped around from titles … if you just Google her, you’ll find out where she works now, but I’ve closed, I’m not exaggerating, maybe five to eight thousand transactions with her, and please tell her we sent you there.

                                                In fact, I just bought a property from a direct competitor.

Jill DeWit:                            Oh, really?

Steven Butala:                   Yeah. Three days ago I was doing research and it’s funny how, like, I get every-

Jill DeWit:                            How come? What was it?

Steven Butala:                   It was a piece of property in northern Arizona, but I … about once a month somebody emails me and they say, “We’re buying a property and you’re in the chain of title,” like you and I are.

Jill DeWit:                            Oh yeah, yeah.

Steven Butala:                   One of our companies, so it’s just funny. Like, here’s your signature, I can see it in the chain of title. Anyway, my point is this world that we’re in is smaller than we all think.

                                                Anyway, call Dora Goodmiller.

Jill DeWit:                            I was going to weigh in, may I?

Steven Butala:                   Yeah. Heck, yeah. Oh, yeah.

Jill DeWit:                            Okay.

Steven Butala:                   Oh you close deals in Arizona too!

Jill DeWit:                            Can I play? Can I talk? Thank you … or I can just go paint my nails over here and you just let me know when you need me.

Steven Butala:                   Maybe next episode.

Jill DeWit:                            Okay, ’cause I don’t make mistakes. Ha, ha, ha.

Steven Butala:                   That’s funny.

Jill DeWit:                            Right? So, anyway, the … everything’s right and there’s nothing to be afraid of. You did it perfect. Sometimes we even … there’s a couple ways you can do this Gary. You could do exactly what you’re doing: go ahead and close it through title and they’re paying all the costs. So that’s fantastic, because you just sit back and relax and do nothing basically. The title company will ask you when they need something from you. Just a signature and that’s it. They’ll do the deed and everything, which is awesome. And then the second thing is, in going forward on transactions like this, you could have them do title insurance after they purchase. It’s really up to the buyer. It’s not a big deal. Either way’s great.

Steven Butala:                   Here’s the thing: time kills deals. So the longer they have to think about it, there’s more a chance that they might change their mind, and that’s fine, but here’s the-

Jill DeWit:                            That’s why the second one might be even better. Here, I’ll get in your name and then we’ll do the title insurance, I’m right here.

Steven Butala:                   Yeah, exactly, Jill. So I’m going to reiterate sort of what Jill said with one addition. There are some title agents, and Dora is not one of these people who want to make sure … they want to go back to the chain of title, and make sure there’s title insurance on every transaction. So if you didn’t purchase it with title insurance, there are some title agents who make a big stink about that.

Jill DeWit:                            There may have never been title insurance too.

Steven Butala:                   That’s right.

Jill DeWit:                            Because the person who Gary bought it from, could have had it for 30 something years, and-

Steven Butala:                   Have a speech prepared. Like Jill just gave you the speech. This is an $8,000 piece of property, nobody elected to have title insurance sense it was homesteaded, and I really appreciate the whole thing, so if you don’t want to do the deal title agent, I will find somebody else and we’ll just part friends.

Jill DeWit:                            Yeah.

Steven Butala:                   That almost never happens after the speech, and it’s almost always really, really new title agents that just really want to comply or make a point in life, instead of actually doing the deal.

Jill DeWit:                            Well, what I think is … what I find with title agents is they’re almost shocked at how easy this is. They kind of don’t know what to do.

Steven Butala:                   Yeah, ’cause there’s no lender.

Jill DeWit:                            Right. There’s no a lender due. There’s no inspection due. There’s no-

Steven Butala:                   Real estate agents.

Jill DeWit:                            All the typical led based paint forms. All the things that they normally check off in their packet, they’re a little confused by these.

Steven Butala:                   Sure, they feel useless.

Jill DeWit:                            They do. They do. And that’s why … by the way, Gary, be sure and ask for an investor pricing, because most title companies will offer something like that for you. Some kind of a discount, because you’re bringing to them something so flippin’ easy that it’s not even funny.

                                                All they’re really doing is just like a … they’re just like a … I don’t know if a holding company is the right term, but they’re just facilitating the money, and just making sure all the signatures were correct up and until today. That’s it.

Steven Butala:                   Yeah. There’s just making all … making sure all the transfers are legit back thirty years.

Jill DeWit:                            It’s funny ’cause they’re going to go pull LEM reports and everything and they’re going to come up empty, and they’re going to pull this and they’re going to come up empty, and like I sometimes just think they’re going, “This can’t be this easy,” but it is.

Steven Butala:                   Sometimes people try to find problems-

Jill DeWit:                            They do, and like you said, to justify their job, and to justify what it costs, and maybe that’s a conversation. Honestly, that might be a nice thing to say to a title company. Like, “Hey, just so you know, I’m fully prepared you’re going to find nothing. This is going to be probably a 10 minute job for you. Don’t worry. You’re still going to get paid, whatever your normal payment is. It is one of those easy transactions. I hope to send more your way, because we both win.”

Steven Butala:                   Jill nailed it. It pays off in spades to befriend these people. Dora or any title agent that you choose. I would actually choose, in this situation, someone who is not in a huge metro area. Somebody that really appreciates the business, and understands these rural land type transactions. Dora’s obviously one of these people. I’m not plugging her. I’m really not. We have no affiliation or any of that. It gets me thinking maybe we should have an affiliation.

Jill DeWit:                            I know.

Steven Butala:                   But really it’s going to pay out huge if you make friends with the county people. Make friends with the people that are just in your group that close your deals and then they understand it. Then you don’t have to repeat this every single time.

                                                We had a deal with Dora, now that I’m thinking about it, a few years ago, where she was closing the deals all over the country for us.

Jill DeWit:                            That’s great.

Steven Butala:                   And she was making 200 bucks just managing other estero agents in California and Utah and everywhere. Colorado. Today’s topic: Make your mistakes, and you’re going to make your mistakes at a 100 miles an hour. This is the meat of the show. I’m going to tell them an old football story and it’s going to be brief, Jill. I promise.

                                                Nothing made my high school football coach more angry then not … when the whistle blew, when the ball was snapped on offense, to not just go 100 miles an hour, and so why wouldn’t you do that on every play? Here’s why: ’cause you don’t know the play. You’re supposed to memorize the plays. I’m talking about myself now. I just didn’t … I’m not sure where I’m supposed to run. That’s really bad.

Jill DeWit:                            Right.

Steven Butala:                   So he would just blow his top.

Jill DeWit:                            Could you imagine?

Steven Butala:                   Absolutely blow his top.

Jill DeWit:                            The last you want to do is catch the ball and stand there, look around and think about it for a minute.

Steven Butala:                   Yeah, but you don’t even … well, here’s how it goes in football; really quickly. The ball gets snapped, the quarterback knows what’s going on. He usually calls the play, and if you’re a running back on the back field, you better be in the right place at the right time to either take the hand off or run the pattern to catch the ball, so-

Jill DeWit:                            And you better know the play.

Steven Butala:                   Yeah, and if you don’t know the play, you’re just kind of dancing around like a ballerina … like a half interested ballerina.

Jill DeWit:                            Right?

Steven Butala:                   And it’s just a mess. Then everybody’s affected. Everybody in that whole situation is affected because … you do not want to do this in your land acquisition career. You do not want to be timid. You don’t want to say. And this is … I see this. Here’s why I wrote this title. I get a report on offers to owners every … whatever, it’s … I don’t know, every few day-

Jill DeWit:                            Daily.

Steven Butala:                   Every month. Well, it’s every week on data pulls.

Jill DeWit:                            Oh.

Steven Butala:                   Data pulls and how many letters go out. And more often, and more often, and more often, I’m seeing the letters, the packets that go out from my members, and outside of the group, where they’re sending 35 letters and 28 letters just to see what’s going to happen.

Jill DeWit:                            There are a few. And you’re not going to make any … you’re not going to get anything from that.

Steven Butala:                   The title of the next show … this is a spoiler alert of tomorrow’s show is: Your first deal should be a massive, huge, fireball of a mess. A huge disaster.

Jill DeWit:                            Right. Go for it. Go big.

Steven Butala:                   It should look like a car accident.

                                                So, let’s all get over that, and I’ll tell you what. If you send a 32 unit mailer out … I mean, 32 letters-

Jill DeWit:                            You’re lucky if you get one call.

Steven Butala:                   You’re gonna fail.

Jill DeWit:                            Yeah.

Steven Butala:                   And that’s not even making a mistake at a hundred miles an hour.

Jill DeWit:                            That’s a waste of a hundred and fifty bucks.

Steven Butala:                   That’s not going for a jog in the morning. That’s dragging one feet down the street. One foot down the street.

Jill DeWit:                            Exactly.

Steven Butala:                   So, whoa … what was that look?

Jill DeWit:                            Dragging one foot down the street?

Steven Butala:                   You’re like: “What kind of analogy is that?”

Jill DeWit:                            Yeah.

Steven Butala:                   So I really mean, you really should educate yourself.

Jill DeWit:                            Did you just make up your own, whatever that is.

Steven Butala:                   I just can’t … I can’t get that.

Jill DeWit:                            This is so awesome. It sounds like all of my friends … No, I don’t mean to pick on you, I gotta say this to you, but it sounds like my friends where English is not their first language. They come up with those kinds of things.

Steven Butala:                   Oh, right.

Jill DeWit:                            Like the guy dragging one foot down the street. What the heck? What does that mean?

Steven Butala:                   Right. That’s a popular thing in Estonia-

Jill DeWit:                            You’re right; maybe.

Steven Butala:                   Try to translate it to California.

Jill DeWit:                            Actually there was a language thing; it meant something totally different, but that was their translation. And they thought we’d get it.

Steven Butala:                   Like they have a broken leg or something.

Jill DeWit:                            Exactly. What the heck?

Steven Butala:                   I can’t get my football coaches face out of mind about how angry this one thing would make him. So, make a mistake a 100 miles an hour. Send a bunch of mailers out. Answer the phone. Get yelled at. Get it all out of your system, because the next mailer that you send out is going to work, because you’re going to learn all that stuff. So there’s only so much stuff that our group, Landinvestors.com, there’s only so many questions you can ask. You just have to get out there and do it.

Jill DeWit:                            Exactly. You know what this makes me think of? I was thinking about your advice … it seems like most of your advice, or a lot of your big advice, comes from football.

Steven Butala:                   What!?

Jill DeWit:                            Seriously.

Steven Butala:                   I haven’t brought up football in a long time.

Jill DeWit:                            No, you do often enough though.

Steven Butala:                   Really?

Jill DeWit:                            Yeah, I don’t mean it in a bad way. I’m just saying, it comes up. It actually comes up … you don’t think it comes up often, I’m here to tell you it’s often, and it’s not … seriously, it’s not a bad thing.

Steven Butala:                   No, I know. You know when somebody tells you something like Jill just did and you’re like completely oblivious to it.

Jill DeWit:                            That was one of those moments.

Steven Butala:                   Like after 25 years of marriage, somebody comes to you and says, “You know, you really need to clip your toe nails more often,” you’re just like, “Well, all you had to do is tell me like 20 years ago.”

Jill DeWit:                            I know. It’s all good. So, no, and I’m not saying to change a thing, but I was just referring to that because that just seems like where a lot of your advice comes from that really made an impact on you, and so not to drag a leg-

Steven Butala:                   I think there’s a lot of sports analogies, but not necessarily football.

Jill DeWit:                            Right. Well, not to drag a leg down the street, but … I gotta say, this is now my new favorite saying.

Steven Butala:                   It’s going to be … this is going to happen.

Jill DeWit:                            This is going to go great.

Steven Butala:                   Dragging a leg down the street. And eventually that title will be: drag a leg down the street.

Jill DeWit:                            Somebody has got to do this again. Remember the thread that the crap Steven says? We got to bring that back. Everyone please bring that back.

                                                You know who I’m talking about. It’s in our online community; had an awesome forum. It was really good.

                                                My point is, a lot of my stuff comes from my dad. So he was the most influential person in my life. He’s not with us anymore unfortunately, but one of the things he told me that kind of ties into this about mistakes and problems … I look at mistakes and problems and follow up with a solution. It’s one thing to make a mistake. Do it big, but don’t just hang up your hat. Have a solution, and-

Steven Butala:                   Practice solving stuff. Don’t practice moping around about it.

Jill DeWit:                            You have to … I guess that’s it. It’s tipping into something else that I’m thinking about that he also told me that doesn’t really relate, but whenever you go to your boss with a problem, have a solution. Don’t walk around … can you imagine if I came to you or I looked for advice … I don’t know. Figure it out on your own, I guess is what I’m trying to make. My point.

Steven Butala:                   I’m filming Land Academy 2.0 right now for, what, for our live event that’s coming up, and-

Jill DeWit:                            Please don’t say that.

Steven Butala:                   Oh, I’m not supposed to say it. Okay.

Jill DeWit:                            Please don’t say that, seriously.

Steven Butala:                   Okay. Well, I’m filming Land Academy 2.0-

Jill DeWit:                            Thank you.

Steven Butala:                   For it’s release later this year.

Jill DeWit:                            There we go!

Steven Butala:                   And I’m looking back at … it’s so different, because after having this group since late 2015, the stuff that … our main concern in 2015 was spreading the word and actually convincing people that this works. When’s the last time that you’ve sat down with anybody or said, “It works.”

Jill DeWit:                            Oh, it true.

Steven Butala:                   I haven’t had to convince anybody of that at all.

Jill DeWit:                            [inaudible 00:14:53] interesting?

Steven Butala:                   That group of questions: “Are you guys full of malarkey?” All that, like, “Where the heck did you guys come from?” all that’s gone.

Jill DeWit:                            What’s data?

Steven Butala:                   Now, it’s like, we get questions like Gary’s question today. I got, “What do I do about title insurance? Yeah, okay, great. I made 50,000 bucks this quarter. How can I make five million?” So that’s why it’s a challenge for me. Not a challenge, it’s actually more interesting now for me to come up with topics like, here’s what you do. You make a mistake at a 100 miles an hour and accept the fact that you are going to get in a car accident the first three or four years that you get your license, but you’re going to practice getting out of it.

                                                This is all leading to this statement. People ask me all the time, “What’s the difference?” I mean, your top performing people, “What’s the difference between making 50 to a hundred grand a year and making five million?” and it’s that. They have accepted that mistakes are going to happen and they’ve really practiced and expect to rectify them.

Jill DeWit:                            And they’re very confident, and they boldly go forward and they’re just ready for it. That’s it. If you’re ready for it, then nothing can stop you.

Steven Butala:                   That’s all Jill and I do quite honestly, is just solve these machines running and stuff happens and then Jill and I solve it.

Jill DeWit:                            Calmly. Methodically.

Steven Butala:                   Sometimes we drag out feet down the street.

Jill DeWit:                            That’s true. Sometimes both feet. Sometimes you’re dragging me down the street, and sometimes I drag you down the street. Just kidding.

Steven Butala:                   That’s true figuratively.

Jill DeWit:                            All right.

Steven Butala:                   Well, you’ve done it again. You spent another, I don’t know, 15 or 16 minutes with us on the Land Academy Show here. Join us tomorrow for another interesting episode where we discuss: Your first deal should look like a huge disaster mess.

Jill DeWit:                            This is going to be hilarious. And we answer your questions, post it on our online community found off of landacademy.com. It is free.

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

Jill DeWit:                            Did you have like … I feel like something triggered this whole week. You know: make mistakes. First deal, big mess.

Steven Butala:                   Oh, you know this week is called that. I wish somebody would have told me … I wish somebody would have told me this a few years ago week. That’s what this is.

Jill DeWit:                            This is hilarious. You had some fun with these.

Steven Butala:                   Had I known this-

Jill DeWit:                            Right.

Steven Butala:                   I did. This is actually … I’m looking forward to it.

Jill DeWit:                            These are captain obvious topics … that’s where you’re at. Captain obvious week.

Steven Butala:                   I mean, it could have been all kinds of stuff like, “Darn, maybe I actually should have listened to my father on that,” it falls all into that kind of category.

Jill DeWit:                            Got it. Hilarious. Share the fun by subscribing at iTunes or wherever you are listening. And why you’re at it, please rate us there.

Both Speakers:                 We are Steve and Jill.

Steven Butala:                   Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

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