Land Academy Members Survey Results (LA 925)

Land Academy Members Survey Results (LA 925)

Transcript:

Steven Jack B.:                   Steven and Jill here.

Jill Dewitt:                           Howdy.

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

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

Steven Jack B.:                   Today. Jill and I talk about Land Academy, how Atlanta Academy … Well, the Land Academy member survey results. Jill and I took conducted … Well, I didn’t have anything to do with it.

Jill Dewitt:                           My team.

Steven Jack B.:                   Jill and her team conducted up huge-

Jill Dewitt:                           Awesome.

Steven Jack B.:                   … extremely extensive survey to find out what’s working and what’s not working, what people like, what they don’t like in a lot of stuff-

Jill Dewitt:                           Newbie advice. This is a show you really want to listen to. When you … So, don’t turn it off yet. Please hang in there.

Steven Jack B.:                   I was shocked-

Jill Dewitt:                           Because the advice, and the tips, and the things that I have to share coming up on the show are phenomenal.

Steven Jack B.:                   Still really bring results seriously.

Jill Dewitt:                           … and really, really good. Yeah.

Steven Jack B.:                   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.

Jill Dewitt:                           Victor asks, is there a downside to buying a property at a tax deed auction? I was going to purchase a property from someone but found out it’s not theirs anymore. It’s currently for sale for a tax deed auction lower than the offer I sent them. Is there any downside of buying one from the county due to non payment of taxes? Thanks guys. Victor.

Steven Jack B.:                   This is a great question, and-

Jill Dewitt:                           I know you have a lot to say.

Steven Jack B.:                   I feel qualified to answer it.

Jill Dewitt:                           Yes you are.

Steven Jack B.:                   I started the whole company back in the day buying tax deeds, because the whole send stuff in the mail thing was not that … It wasn’t a-

Jill Dewitt:                           And it didn’t have as cheap as now, first of all too.

Steven Jack B.:                   … I’ve got my mind. In fact, and the data wasn’t made available to the public. Real quest, it’s this interesting? Core logic and Real Quest started this whole survey, this whole assessor data collection concept. And they set it up for oil and gas, the oil and gas industry, insurance, and mortgage people. They didn’t set it up for like people like us investors or people, and then they found out later that this data that they’re collecting is useful to people like us. So, there wasn’t available. The only way you could get it as call each county that you’re working on, and they would send you the data. And it’s a big, huge mass. Sometimes they’d send it to you in a paper printout. So-

Jill Dewitt:                           I remember when you got this.

Steven Jack B.:                   Yeah.

Jill Dewitt:                           I remember jumping up and down. You’re going, “Wait a minute, wait a minute. You guys have what?” Because it wasn’t on their radar. You just did some searching and just happened to find a company that had what we needed.

Steven Jack B.:                   Right.

Jill Dewitt:                           That was it. And it was like, what was that?

Steven Jack B.:                   They don’t really talk about it on the website even, back then.

Jill Dewitt:                           What year was that? I don’t remember, like 2010, ‘9, ‘8, I don’t remember.

Steven Jack B.:                   Well, it’s closer to three and four, but it’s okay. Before that, all we did was tax. I would travel around personally and go to tax auctions in the Southwestern part of the country and buy them in person. And so what’s the downside to buying a tax deed property? Well, the glaring first obvious result is you can’t generally get title insurance on it. Although we’re having members now tell us that there’s companies out there that will do title insurance. So that’s a huge step forward for tax deeds. But outside of that, I don’t see any difference. I personally think, because of the way that counties go through an adverse possession, they’re required … From a statute standpoint, state statute standpoint required to go through adverse possession-

Jill Dewitt:                           I agree.

Steven Jack B.:                   … it’s better than satellite insurance. So …

Jill Dewitt:                           Right. Because the big picture is, the count … By the time it gets to this point and makes it into your hands, you’re available to buy it and do it. It’s been eight years of notices or eight to 10. It depends on the county and the area, and it’s the rules basically. But let’s just say a lot of years have passed, a lot of notifications. Things in the paper, legal things, legal processes have gone through. So, they can safely say, “This property, we took it back. No one wants it. We’ve done everything possible we can do. It’s ours and now we’re reselling it to you, are we’re starting fresh basically.” And at that point too, the people, they have no recourse. It’s done. It’s over … They could sue all the county all they want, it’s not going to happen. That’s just the way it is.

Because when you, it’s like part of owning property in that county and just owning property, you’re agreeing to these things. If you don’t pay your taxes, they’ll take it. They can, they have the right to, you have no recourse.

Steven Jack B.:                   And so there’s always this black cloud that hangs over tax deed property with these existing liens out there. Counties love to say, “You have to check to make sure if there’s existing liens.” Well, the fact is 99% of the time adverse possession wipes out all liens. Here’s the exceptions. Medical Liens, IRS liens. And there’s probably a couple other issues in all my years, all the years and all the tax deed property that I’ve ever purchased, one property had a medical lien on it, and it didn’t matter. So, all that works for you in your …  All that works in your favor-

Jill Dewitt:                           Exactly.

Steven Jack B.:                   … as a tax deed buyer. Now, and this is my final point, so what’s negative about tax deeds? There’s two things. Number one, for property, let’s say like in Los Angeles County, by the way, LA County holds the largest tax deed auction in the world every year. It’s stadiums of people go … I mean, it’s tens of thousands of properties. So, if you think you can go to a tax deed auction and buy a piece of property that’s let’s say a commercial piece of land in LA County, in a good area, for $50,000 to $100,000, and it’s worth 500. This happens all the time, this exact scenario. And then resell it to somebody who’s going to build a skyscraper on it, it’s not going to happen.

Jill Dewitt:                           Right.

Steven Jack B.:                   If the property’s going to be developed on, there’s issues with buying a tax deed property. This is beyond the scope of this, of what we’re talking about here. That’s number one. And number two is , to by tax deed property you have to go do stuff. So, imagine getting a list of a thousand properties and you’re just … I mean this happened to me all the time. You just get, if I buy all these properties I’m going to make $150 million because that’s what they’re worth.

Jill Dewitt:                           Right.

Steven Jack B.:                   It takes a tremendous … It takes a team of people to go through a list and find out which properties are worth buying, which properties are worth bidding on. And then a lot of times-

Jill Dewitt:                           Then you show up and sit there.

Steven Jack B.:                   You show up and it’s like, “I can’t get, there’s too many people here, I’m not …” All this stuff goes on like this versus sending out mail. Where you can send out, I don’t know, 10,000 or 15,000 letters in less than two hours, if you know what you’re doing. Then all letters go out and you sit and look at the phone. Maybe you go fishing or whatever. You wait a week, two weeks, and then the 10 or 15 people that really want to sell their property-

Jill Dewitt:                           At your price.

Steven Jack B.:                   … they hunt you down, at your price, they hunt you down to get the deal close. So, it’s way, way more efficient time-wise and money-wise to send out mail.

Jill Dewitt:                           Exactly.

Steven Jack B.:                   But I’ll be the first one to say, I get notices all over the country for these tax deed auctions, and I just stop what I’m doing. I still look-

Jill Dewitt:                           I know.

Steven Jack B.:                   I can’t help it.

Jill Dewitt:                           I know. You’re a deals junkie like me. Get over it.

Steven Jack B.:                   Oh my gosh. Today’s topic Land Academy members survey results. This is the meat of the show.

Jill Dewitt:                           [Gee] I’m Sorry. So, was that over your line? Do you have a line?

Steven Jack B.:                   I just don’t know.

Jill Dewitt:                           What the heck.

Steven Jack B.:                   For those of you not watching this on YouTube [crosstalk], just listening to it. Jill just tapped her veins like a junkie. It’s a little bit surprising for me.

Jill Dewitt:                           I like-

Steven Jack B.:                   You do some crazy stuff.

Jill Dewitt:                           I’m like, do I even have a line? Where is that like, oh my gosh. It’s not oh my gosh at all.

Steven Jack B.:                   I just don’t expect to see Jill Dewitt tapping her veins, like looking for a vein. You said crazy stuff like that-

Jill Dewitt:                           Thank you.

Steven Jack B.:                   Every other couple of days. It’s just like, what the heck man? Makes me feel all warm like I even love you more, and then it concerns me all at the same time.

Jill Dewitt:                           Like, oh should I worry? That’s bad. How does she know what that is? You know what that is? I watch the movies you put in front of me.

Steven Jack B.:                   I know, that’s probably what it is.

Jill Dewitt:                           Oh, Sally, my taste in movies has changed quite … well, not … My taste hasn’t changed. My threshold for what I can handle has changed, because you’ve slowly got me used to horrible, horrible movies, I would never watch five or 10 years ago. I’d be like, “Heck no, no way.”

Steven Jack B.:                   Like, all the men who listen to this show will identify with what I’m about say. Like once in a while you put like a really risque black little nightie thing on, and it’s like … My initial reaction is, “Okay, this is great.” And then at the start thinking like, “Wait a minute, like that’s Jill in there.” I mean, and the results always the same, which we won’t cover in this thing [crosstalk].

Jill Dewitt:                           Thank you.

Steven Jack B.:                   But it’s like this is a little conflicted for just for a second. Like that’s sweet Jill.

Jill Dewitt:                           Wow. Well, that was TMI. Are you done now?

Steven Jack B.:                   Yeah.

Jill Dewitt:                           Oh, okay. Thank you. Back to the meat of the show, which is a survey result. So, I have some notes here I’m going to share, and I have seen stuff on the … Steven’s going to pull up for me so I can refer to. This is such great, valuable information for those of you who are new, I think, thinking about joining really what goes on in this community. Number one, I want to say that it gets more interesting as I go on. But I just kind of picked out the highlights. There’s like six or seven things here. Number one, 75% of our members participate in our online community. That’s huge. That’s a lot. That says a lot about their success. They ask questions, they get answers. And I think that’s it. It’s so valuable and I’m glad that we have it. And if you’re new or thinking about doing it, check out our online community, it’s amazing what goes on in there.

Steven Jack B.:                   What if we could published these results somewhere?

Jill Dewitt:                           We were going to do something with that.

Steven Jack B.:                   Where you guys are. Okay, great.

Jill Dewitt:                           Oh yeah, we’re going to do something with them. The second thing, the number two, we have created tools now that our members they could not be successful and cannot live without. I mean, think about it like you talk about the data, the cheap mail, all the support that we have. I’m trying to think what are some of the things that … the member calls. There’s so many parcel fact, finding properties. So many things that we have now. They’ve said I couldn’t do my job without them, and thank you.

Steven Jack B.:                   Yeah, and what’s [inaudible] in that question. There’s just a … Once in a while I get this question like, “Why is your program so expensive?” And so, to which I respond, “The vast majority of the cost of this program is the data subscription and access to mail. So without the Land Academy program-”

Jill Dewitt:                           To tell you how to do it.

Steven Jack B.:                   “… and walked into Core logic or Title pro 24/7 or … and soon here with House Academy data tree.” If he walked in and said, “I’d like a subscription to this data, it would be way more expensive than the whole charge of the whole Land Academy Show.”

Jill Dewitt:                           It’s true.

Steven Jack B.:                   So, you’re not so much paying for education. And we set this up like this, a whole premises, all the education is free, you’re paying for the tools. And that’s what it is. That the upfront cost offsets are expense, truly it’s not a profit center for us. And then the monthly membership costs you’re paying for access to the data, and to the mail. So, it’s not, it’s that those tools are imperative.

Jill Dewitt:                           What are you going to say, and this ties into the next question. I was going to talk about the majority of the people that took the test, our survey, I will read at the summary of verbatim. It says for those that have completed a deal, the vast majority recouped their initial investment in the first deal, or shortly thereafter.

Steven Jack B.:                   Yeah, and that’s the way it’s set up.

Jill Dewitt:                           But the most of them was in the first deal. So, they’re like, they quickly learned how to like buy for 1000 and sell for five. They’re like done. That’s it. That was a test.

Steven Jack B.:                   And it’s set up like that.

Jill Dewitt:                           Now we know.

Steven Jack B.:                   It’s impossible to communicate that. People don’t believe us, and I guess that’s good.

Jill Dewitt:                           And, at the time of taking the survey, I mean we’ve only been doing this for since what? 2015. So, of our members right now, over half of them have completed 21 to 99 deals. That’s a great number too.

Steven Jack B.:                   It’s amazing.

Jill Dewitt:                           I love that.

Steven Jack B.:                   10% are 100 plus-

Jill Dewitt:                           10% are way over 100.

Steven Jack B.:                   That’s just the people that responded.

Jill Dewitt:                           That’s true. Because you know what? A lot of people would joke about that, but it’s totally true. People get into it, they figure it out, they understand it, they’re off and running. They’re like, “I don’t need a survey. I’m busy.” They’re dark-

Steven Jack B.:                   Which I understand.

Jill Dewitt:                           Totally. And then for completing the first deal over half have completed their first deal in under three months. That’s great too.

Steven Jack B.:                   Again, staggering.

Jill Dewitt:                           They got up and running. They got everything they needed, they figured it out and they’re on their way. The biggest challenge that everyone said was, and this I found the most interesting. It was all of them, the biggest challenge was personal life and getting in their own way. And like they talked about things like analysis paralysis, and family, and the time. And it’s just really, that was it. So, that that was their biggest thing. And so, there’s stuff that I’m trying to work on with my team to help with that. So great you’re here, you get it, you understand it. Now you need some help with some skills for fitting this into your life.

Steven Jack B.:                   This really surprised me. That the personal life is the biggest challenge, versus-

Jill Dewitt:                           That’s biggest one.

Steven Jack B.:                   It’s not the education or the tools-

Jill Dewitt:                           Not, I don’t understand it or I’m not a data … Yeah, that was a funny thing too. Yeah. No one said, “I can understand this. I’m not a data person. I don’t see it like you do Steven.” Or, “Core Logic scares me, or I’m afraid of the phone. Or I don’t feel confident.” No, it’s just like, “I got to get my life in order.” That’s it. They’re like, okay, you just handed me … It’s like I just handed you the beautiful, which we did. It’s a beautiful roadmap. Exactly ABCD, what to do, and now your job is just to do it and you’re like, “I got to clear off two hours a day. I got … You’re right. I do need to do that.” That’s the thing.

Steven Jack B.:                   That will directly affect the podcast content that we create and probably Jill’s talking about-

Jill Dewitt:                           The books.

Steven Jack B.:                   … doing something that-

Jill Dewitt:                           And some training.

Steven Jack B.:                   … will really help people-

Jill Dewitt:                           That’s it.

Steven Jack B.:                   … get organized really, is what it comes down to.

Jill Dewitt:                           Exactly.

Steven Jack B.:                   Prioritize.

Jill Dewitt:                           So, I was there too. We were all … most of us.

Steven Jack B.:                   Even now. I mean-

Jill Dewitt:                           Most of us were there too.

Steven Jack B.:                   … I struggle with this. The truth is Jill and I struggle with this even today.

Jill Dewitt:                           Yeah, it’s very true. I have to manage my time, balance my time between running a team and our new products, and things, and just do my deals. Because you know what? I’m not stopping. We’re doing deals.

Steven Jack B.:                   Right before we sat down to record this show today, Jill came into the studio and sat down and said, “We are going to Santa Barbara this weekend.” I got the Suite in a hotel-

Jill Dewitt:                           It’s booked.

Steven Jack B.:                   … and this is what’s happening. This, this, this, this and this, and I expect it will to be ready at this time on Friday morning.

Jill Dewitt:                           Friday.

Steven Jack B.:                   And we’re not working at all this weekend. And because she’s just had enough-

Jill Dewitt:                           I did.

Steven Jack B.:                   … and so-

Jill Dewitt:                           We need it.

Steven Jack B.:                   And she’s completely right.

Jill Dewitt:                           Yeah, that ties into this.

Steven Jack B.:                   I fought it for like 30 seconds, and then I said to Jill, “You know what? You’re right, and you’re getting a massage and stuff.”

Jill Dewitt:                           Thank you. Let’s just … Okay, now I’m trying to stop right there. So, that ties into this too, as a matter of fact. And that’s the … So, the personal life is two parts. One, you’ve got to figure out your personal life so you can do this. Two, you got to make sure you manage your personal life so this doesn’t takeover. You want to make sure you have a … You don’t want to get burn out.

Then another question here, I have two more I want to mention. The second one to last one is newbie advice. What advice would you give newbies? The number one thing was a version of mail, market, repeat. Send out the mail, market the property, sell the property, try and do it again. Don’t stop, just keep going, keep going, keep going. And the number two thing they said, which is kind of ties in, is just take action. Some people don’t, they’re just, and it goes back to like the personal life and the biggest challenge. So, they tell newbies, “Just do it, man. I know it’s scary. I know you’re not sure you’re ready for it. Your website’s not as beautiful as you want it to be. Who Cares? Take Action, get going.”

Steven Jack B.:                   If you can’t get the mail out, which I understand, in this trips up a lot of people, call offer to owners and say that sentence, “I can’t get the mail out. I’m stuck. What do I do?” The people that work … Jill and I started that company from the ground up through-

Jill Dewitt:                           Not for pulling data … not for picking a county-

Steven Jack B.:                   Through address … I’m saying call it like it’s a help line, and say, “I can’t get sack out, what do I do?” They’ll help you. Will they do it for you? No.

Jill Dewitt:                           Right.

Steven Jack B.:                   Will they choose a county for you?

Jill Dewitt:                           Make sure you get the right direction.

Steven Jack B.:                   But at least it’s a place to call and say, “I just, I need to get this done.”

Jill Dewitt:                           And our online community, one of my best things is really reaching out to your peers, and even reaching out to say, “Hey, I’m not a member. I’m just kind of getting rolling here. Can you guys help me?” They’ll do it. Sure, they’ll help you. All right, and then the last thing I wanted to talk about was the question was, this was so good. Let me see what the exact question was. What would you like to see from Land Academy in the future? It could be tools, new programs, new content, etc., be Creative. Number one answer was networking opportunities. So, that’s coming. I hear you, I got it. Sit tight, I’m working on it. And just so you know the number two, house academy. that’s coming too.

Steven Jack B.:                   Wow.

Jill Dewitt:                           That was number two.

Steven Jack B.:                   I didn’t know that until now.

Jill Dewitt:                           All the other things like … Let’s see, like marketing support or hearing. They also want to say hearing from other members, accountability, things like that, some … But that was the biggest thing, was networking opportunities. And I hear you, and it’s true that … So, [crosstalk]. You asked, just as normal, let’s end it on this, as always you ask we’re going to do our best, and we heard you.

Steven Jack B.:                   Which shocks you most about this survey? What was the most jaw dropping point?

Jill Dewitt:                           The most interesting thing about this was the thing we’re talking about on our Thursday call, our Thursday show I mean, so I’m not going to talk about it here, but that was it. There was one question that I went like, “What?”

Steven Jack B.:                   We can’t talk about here?

Jill Dewitt:                           No, I’m going to save it for Thursday. Why? I want them to hear it on Thursday-

Steven Jack B.:                   Oh, I mean, there’s a podcast.

Jill Dewitt:                           … It’s a whole show. There’s one more thing on our podcasts coming up on Thursday. This is Tuesday, so on our Thursday podcast, hang in there. I promise, I held back one, one really, really good statistic that we’re going to … Because it was so big, we devoted a whole podcast show to it, so I’m going to hold that one back. But of the ones that I talked about here, I think the biggest challenge was the one that surprised me.

Steven Jack B.:                   Yeah. The personally life getting in the back.

Jill Dewitt:                           I kind of thought that would be a technical thing.

Steven Jack B.:                   Me too.

Jill Dewitt:                           I kind of thought there’d be something like-

Steven Jack B.:                   … that’s what I thought.

Jill Dewitt:                           … something technical, and I was all ready to help them. Well, I’m going to help anyway. But the biggest challenge was really just everybody’s admitted it’s me. It’s not you, it’s me. It’s like really? It’s not you-

Steven Jack B.:                   It’s how you break up with somebody.

Jill Dewitt:                           Exactly. It’s me. Don’t break up with us.

Steven Jack B.:                   I think that’s true though.

Jill Dewitt:                           It’s true.

Steven Jack B.:                   I really do think it’s like, you not me.

Jill Dewitt:                           Me?

Steven Jack B.:                   Not you personally. But you break up with somebody or they break up with you, it really is them. It’s not you. They’re just not into it.

Jill Dewitt:                           Is it? No. I don’t know. It could be the price. It could be me. What if I picked the wrong person? I was trying to fit a square peg into a round hole. I believe it. It’s not you, it’s me. If I’m breaking up with someone. I made a bad choice-

Steven Jack B.:                   That’s what I believe.

Jill Dewitt:                           I should have never let it get this far.

Steven Jack B.:                   We’re saying the same thing. We’re saying exactly the same thing. So, if you ever say that to somebody, you know it’s me, it’s not you. That’s probably true.

Jill Dewitt:                           Yeah. I knew going into it, this is going to be a bad relationship, that it was never going to work, and so it really is me. We should have never had a second date.

Steven Jack B.:                   It’s like that with vendors too, and employees. It’s like, listen, I made a mistake here not you. It still ends in tragedy and tears and all that, but at least it’s a truth.

Jill Dewitt:                           It’s got to happen.

Steven Jack B.:                   Well, you did it again. You spent another 20 minutes or so listening to the Land Academy Show. Join us next time where we talk about bigger pockets, how to use bigger packets and land academy.

Jill Dewitt:                           Can we answer your questions? Post it on our online community, landinvestors.com, it is free.

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

Jill Dewitt:                           Always goes back to like a dating breakup-

Steven Jack B.:                   I just think it’s something that everybody can really-

Jill Dewitt:                           Relate to?

Steven Jack B.:                   Yeah. Relate to, and it’s not just dating. Plus dating’s always funny. I never goes right.

Jill Dewitt:                           Everyone say they’re broken up with someone, or been broken up with.

Steven Jack B.:                   Yeah. You can relate to the whole thing.

Jill Dewitt:                           That happens, life happens.

Steven Jack B.:                   Like humans, right?

Jill Dewitt:                           Yeah. Hey, and wherever you are watching or wherever you are listening, please rate us there. We’re Steven and Jill.

Steven Jack B.:                   We’re Steve and Jill. Information-

Jill Dewitt:                           … and inspiration-

Steven Jack B.:                   … to buy undervalued property.

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