One Deal at a Time (LA 854)

One Deal at a Time (LA 854)

Transcript:

Steven Butala: Land Academy show. Inner city 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 one deal at a time. You know, this topic qualifies for one of those topics where it’s like, “Hey, thanks Captain Obvious.”

Jill DeWit: Yes, it does.

Steven Butala: What do you mean you do one deal at a time, isn’t that obvious? You just have to do one deal at a time. I just got done, completely done recording and producing Land Academy 2.0, you know Infolots. There’s a spreadsheet that’s kind of like central, it’s like ground zero for buying and selling real estate. And what I asked you to do right in the beginning is calculate how much money you want to make and so, let’s say you want to make two, five, eight million dollars whatever, and then break it all down backwards like, “Okay, I have to do X amount of deals” and it’s scary. ‘Cause like, okay, I’m 210 deals away from making two point one million dollars.

Jill DeWit: When you look at it that way, it’s scary.

Steven Butala: But then if you break it all down by how many months it takes and getting organized and scaling and all that, it’s not that scary. So I came up with this topic.

Jill DeWit: I love it.

Steven Butala: You just gotta talk about one deal at a time, and every single deal, you build more systems in place so that you have to do less and less work per transaction.

Jill DeWit: Love it.

Steven Butala: It all starts with one deal.

Jill DeWit: I agree, Captain Obvious. I have a lot to say but I’ll save it.

Steven Butala: Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free and as you’re listening to us, please drop your questions into the comment section below, specifically in YouTube.

Jill DeWit: John S. asks, “I remember a while back there was lot of talk about Jill live as a direct competitor with Pat live. I was just wondering, what happened to that?”

Steven Butala: Me too.

Jill DeWit: Same here. “As a follow-up, I was wondering what and who you guys were using as an answering service for your mailers. I wanted to see if there were any resources I should consider. Thanks your ideas and suggestions.”

Jill DeWit: Well, here’s what happened to Jill Live. I spent months and I really, I went down that path. I tried to do that. I tried multiple varieties of doing it. I thought about hiring an in-house staff. You know, like putting people in a room and getting them to answer everybody’s calls. And, but the software and everything that went into it got to be super expensive, and so I kind of ditched that idea. Then I tried to do it with a local company. Met with them, talked to them, tested it for a while. Then it got to be uber expensive and so at the end of the day, I had to have a conversation with myself and with Steven and say, “Who do we wanna be? Do we wanna be investors? Or do we wanna kill it here in the phone answering service?” And we decided, we are investors. We are not gonna try to kill it in the phone answering service.

Jill DeWit: So, what we did in the meantime was, “Whose doing it well?” And Pat Live is doing it well. So, we went to Pat Live and said, “What can you do for us?” And they said, “I’ll tell the truth. Here are two. We can do anything up to 20%. And you can give your people five percent, you get 15, you can do 10 and 10. Whatever you want.” We said, “Thank you very much. We don’t want a penny. They get the full 20%.”

Steven Butala: Yeah.

Jill DeWit: So that’s what’s going on. So we get nothing. So-

Steven Butala: Pat Live is a real estate specific call center too. That’s what I like about him. It’s not … they’re not answering the phone for medical doctors and stuff.

Jill DeWit: They’re awesome. They really understand what we’re doing.

Steven Butala: Our most successful members use Pat Live.

Jill DeWit: So that’s what everybody uses. So, we personally, in-house … ’cause I have a team. It’s very different. I get to have someone answer my phone for all my properties. Most people do not. I have boots on the ground answering phones for houses and things like that. But, for everyone listening to this show, check out Pat Live. They do a great job. And if you mention … tell them you’re a Land Academy member. You gotta be a member and-

Steven Butala: Yeah, you have to be a member.

Jill DeWit: -and, they ask some information to share that. I think my team even has to verify it with them. There’s an email thing that goes on, but, as a member you get the 20% off and it’s great.

Steven Butala: It’s interesting you bring that up, because that was like a year ago. So you must be listening to this show, or you’ve been a member for a while. For every one of these companies … these little tools slash companies that we start, there’s like three of them that have failed. And not failed, but we just decided, “Hey, we’re not call center experts. We don’t have the software. We don’t wanna be.”

Jill DeWit: We could. That’s the reality. I really had to take a step back and go, “Gosh.” You know, even times that I’ve actually looked at you and said, “Huh, maybe we should be our own credit card processor. Maybe we should do that.” And then I go, “Shucks. Do we really wanna be stripe?”

Steven Butala: Yep.

Jill DeWit: As great as that is, I don’t think that’s our path.

Steven Butala: Right.

Jill DeWit: And I’m good with that.

Steven Butala: So, we signed a deal with Heartland Payment Systems and it’s the same situation.

Jill DeWit: Exactly.

Steven Butala: Get a huge discount with … going through us.

Jill DeWit: Exactly.

Steven Butala: Which we don’t see a dollar on. There’s no … we don’t do affiliation deals like you hear about all the time. That’s not our thing. We make money buying and selling real estate just like you do.

Jill DeWit: And, the best thing is what we’re good at, is two for all of our members bringing the cost down ’cause of us. So, not only are we giving back, but we negotiate better rates up front, traditionally, so everybody wins. At least we do.

Steven Butala: Yeah.

Jill DeWit: Our people.

Steven Butala: Speaking of new companies, we will be releasing on Friday of this week inforeports.com and that is a battle I won.

Jill DeWit: Yay.

Steven Butala: Inforeports.com is a … there’s nothing like it anywhere. When you’re looking at buying a piece of real estate, and you’re wondering, “Wow, I wonder where the utilities are. I wonder if this is zoned correctly, if I could build a house on it.” This answers all of that.

Jill DeWit: I’m so excited.

Steven Butala: And it includes a preliminary title report, so you know that the … you know all the stuff before you buy the property. So you can make a great decision. You know, a really well-informed professional decision about whether the property … what specific uses the property has or doesn’t have. Or what needs to get done before it’s ready ,it’s buildable. I’m extremely excited. I wish I had this in like, 2004.

Jill DeWit: Again, right?

Steven Butala: Yep.

Jill DeWit: All these great tools. But that’s okay. Now we have them going forward.

Steven Butala: Yep.

Jill DeWit: Now we can really kill it.

Steven Butala: In fact, in a couple days we’re gonna … there’s two shows coming up this week. One’s called, “Hey, if you could go back to 1998” and there’s one show called, “What do you see happening in 2020?”

Jill DeWit: That’s cool.

Steven Butala: Snap. That’s like two years from now.

Jill DeWit: I know.

Steven Butala: Actually, it’s like a year from now.

Jill DeWit: One year from now.

Steven Butala: Today’s topic. One deal at a time. This is [inaudible 00:06:37] to the show. What is one deal at a time mean to you, Jill? I spilled the beans a little bit, and then-

Jill DeWit: For me, it has a different meaning. And I just talked about this on one of my Facebook live shows in the recent weeks. And I tell people, “Gosh, if you can do one, you can do ten. And If you can do ten, you can do 100.” So, when I think of one deal at a time, for me it’s getting over the hump. A lot of people are stuck and they get … they can’t get from zero to one. So, that is why this topic is important to me. If you can get past that one, and I mean all the way through it, I want you to get all the way from buying it to selling it, seeing the money in the bank and taking a step back and going, “Oh my gosh, I did it.”

Jill DeWit: That’s, to me, one deal at a time. And then, now, do it again, and do it again, and do it again. Just keep your head down. Follow you same list, follow you same steps, everything that we all [inaudible 00:07:35] and show you what to do. Before you know it, you come up for air and you go, “Oh my gosh, I just did 23 deals and I didn’t even realize what I was doing.”

Steven Butala: Yeah. That’s how it always happens to me-

Jill DeWit: And, oh my gosh.

Steven Butala: Everything like that in life, it’s like you look back after it’s over, like a month afterward, you come up for air and it’s like, “Oh, my gosh, what we just accomplished was truly amazing.”

Steven Butala: I never really know it’s happening while it’s happening. Do you?

Jill DeWit: No. And that’s the best. If you’re in it, if you’re in the zone and you’re focused, that’s where you wanna be. You don’t even think about it. Don’t overthink it.

Steven Butala: Yeah.

Jill DeWit: Just keep moving. So, tell us more what it means for you, please?

Steven Butala: Well, honestly, Alcoholics Anonymous has a slogan called “One drink at a time.” I mean, one day at a time.

Jill DeWit: Thanks. Nice.

Steven Butala: So, that, you know, no … but I honestly, it was rooted in-

Jill DeWit: Is that where this title came from?

Steven Butala: No. The title came from me when I was filming one specific chapter in Land Academy 2.0. It’s the chapter called “Equity Planner.” With 2.0 you get a spreadsheet that I created from the ground up about how to stay organized and keep all your stuff in plan, creating equity for yourself by doing deals and then … and there’s some scary numbers in there sometimes, you know? I go through this whole [inaudible 00:08:52] talking about, “If you wanna make 20 million bucks, here’s what it takes. This is how many mailers you have to send out every month. This is how you have to organize your company or your entity and outsource everything. It’s possible to do it with you and one assistant. Make 20 million bucks in five years. I will walk you through exactly what needs to happen.

Steven Butala: Yeah, you have to do two or three hundred deals. And that seems scary right from the beginning. It shouldn’t seem scary if you’ve done 20. It’s just doing the same thing. You just have to outsource, outsource, outsource, outsource. All the stuff that doesn’t matter. Like closing a real estate transaction. Or doing the due diligence research. You should never be doing … after you’ve done 20 or so deals, you should never be doing those things yourself.

Steven Butala: You should be focusing on sourcing cheap land. That’s the real talent in all this. If you can do that, you can surround yourself with people and virtual assistants to do all the other tasks. It’s just a matter of staying organized and communicating. And training them correctly. And we talk all about that in there. In the … in 2.0. I’m proud of 2.0.

Jill DeWit: I am also. [inaudible 00:10:01] What did I miss?

Steven Butala: No, I think you just zoned out. It’s okay.

Jill DeWit: I’m just listening to what you’re saying and I’m thinking about … I’m just thinking more about the one deal at a time and I’m just thinking about the outsourcing and the 20. You know, ’cause I got hung up on … you just said, you know, “You need 200 to reach X number.” You just came up with.

Steven Butala: Yeah.

Jill DeWit: It’s funny how perspective, for some people, 200 is a big big big number. Seriously.

Steven Butala: No, I know.

Jill DeWit: And for some of our members who are closing multiple deals a day, they’re gonna hit 200 this month.

Steven Butala: Yeah.

Jill DeWit: You know? So-

Steven Butala: And 200 Infolot transactions are 200 wholesale house flips, are way way easier to do than 200 rural vacant land deals.

Jill DeWit: Right. And I think, and the only difference … I’d love to hear your thoughts on this … the only difference for me is the funding and even that’s not a big deal depending on your situation or, more importantly, who you’re working with. Whose in your back pocket? ‘Cause let’s be honest. Not everyone here … I know that … has the money to sit and plop down, you know, 800,000 dollars for this one and 300,000 dollars for that. I understand that. But, you know what? If you are that good, you’ve a Rolodex. I don’t think people know what a Rolodex is nowadays.

Steven Butala: That’s right. Well, if you’re a Land Academy member, you do have a Rolodex, so-

Jill DeWit: That’s true.

Steven Butala: -investors are in our group.

Jill DeWit: But, I was just saying, I wonder who knows what a Rolodex is? I’ll have to ask our team that.

Steven Butala: A database. A [CRM 00:11:35]

Jill DeWit: I stumped our team the other day.

Steven Butala: Yeah.

Jill DeWit: You didn’t … [inaudible 00:11:40] Do you remember what yours is?

Steven Butala: No, I don’t.

Jill DeWit: I was talking to a team about something, that we have this little … one of our members came … not our members … one of our team came to me and said, “Hey, I noticed there’s a little following now, with your YouTube Live … with your live thing,” and we put it in YouTube, and it’s people who are not into Facebook, but they’re into YouTube. ‘Cause they don’t wanna be on Facebook, but they wanna be on Youtube. And I’m like, “Who the heck are all these people?” They’re like, “It’s preppers.” I’m like, “Oh, I forgot about them.”

Jill DeWit: So, I’m talking to the rest of the team. I’m like, “Hey, you guys. We need to really pay attention, come up [inaudible 00:12:12] to really help this community.”

Jill DeWit: You know, people call them prep- … I think they even call themselves preppers. I don’t know.

Steven Butala: Yeah.

Jill DeWit: ‘Cause I think I’ve seen this show, it’s called Preppers and everything, and the rest of the team looked at me, like, “What the heck is a prepper?”

Steven Butala: They didn’t know what a prepper was?

Jill DeWit: They didn’t know what a prepper was. So I had to fill them in. So, when I say Rolodex-

Steven Butala: Wow.

Jill DeWit: -I wonder how many people I have to share and tell what a Rolodex is. So, you had won the other day too with our-

Steven Butala: That’s right, yeah. Well, they’re half our age. They should know more stuff than us. About that kind of thing.

Jill DeWit: That’s funny. So I just had to share that cause I thought that was hilarious. So.

Steven Butala: Well, you’ve done it again. You spent another 15 minutes or so listening to the Land Academy show. Join us next time where we discuss the three stages of successful land investing.

Jill DeWit: And we answer your questions posted on our online community, landinvestors.com. It is free.

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

Jill DeWit: Preppers.

Steven Butala: But there’s a whole list of stuff that … that would not have … I wouldn’t have guessed that.

Jill DeWit: There’s so many … it’s so interesting … the people that find us and there’s something there that interests them. And the preppers I get. I’m like, “Oh, well, that makes complete sense. I totally forgot about them.” Why? ‘Cause they’re looking to buy cheap land for themselves.

Steven Butala: Yeah.

Jill DeWit: Check. Done.

Steven Butala: They just dig a hole in the ground.

Jill DeWit: Eh, it’s easy. Maybe, you know, there’s probably a whole RV vacation community that we’re not even tapping into-

Steven Butala: Yeah.

Jill DeWit: -who would love to have a fifteen hundred dollar lot. Let’s just say … I’m just dreaming this up, and I’m sure it exists. They would love to have paid fifteen hundred dollars for a piece of property halfway across the country so they know when they’re traveling coast to coast, they can roll their REV up and park it on their own land and be there for a month if they want to-

Steven Butala: Yeah.

Jill DeWit: -in the middle of the year. You know, every year when they go back and forth. Something like that. And there’s another community that we’re … that I’m not even thinking about. There’s so much out there.

Jill DeWit: Don’t forget. Check out our black Friday and cyber Monday specials, cyber Monday specials happening this weekend. Please be sure and hit the subscribe button to stay up to date on our podcast. Like us and comment on what you’d like to see in future shows. And for listening on iTunes, please rate us there.

Jill DeWit: We are Steve and Jill.

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Jill DeWit: And inspiration.

Steven Butala: To buy undervalued property.

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