One Third of Our Members Quit Their Jobs (LA 927)
One Third of Our Members Quit Their Jobs (LA 927)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Oh happy day.
Steven Butala: I never know what you’re gonna say.
Jill DeWit: Thank you.
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 happy sunny southern California.
Steven Butala: Today Jill and I talk about how 1/3rd of our members quit their jobs.
Jill DeWit: That we know of.
Steven Butala: This is a result of the survey that we took last week, or sent out last week and people responded to and I’m still reeling from it.
Jill DeWit: I have a lot to say.
Steven Butala: I never thought this … You know we don’t sit around and talk to our members all the time.
Jill DeWit: Sure.
Steven Butala: We don’t know what goes on out there. We do this show, we hear some customer service response from stuff once in a while maybe some people have issues. And then there’s about five to eight people who are the loudest, obnoxious can’t get anything right. That’s what we hear. We don’t hear all the great stuff.
Jill DeWit: I do have to say one thing though. We do check in with our members every week, every Thursday. We give a member call and whoever wants to they can be on it. We actually have two member calls. We have two different groups so and if you’re listening to this by the way just something to throw out too I’m thinking of it. You want to be on a member call. You sure can. Send a note to my team support@LandAcademy and say, “I want to check out one of these member calls you guys are talking about?”
Steven Butala: “Yeah what is this you guys are talking about constantly?”
Jill DeWit: “Yeah I want to hear what this is going on. What are you guys doing?” So …
Steven Butala: Jill loves to hand those free one time passes out.
Jill DeWit: Yeah. And you can listen in on a call and you can even ask some questions. So …
Steven Butala: Before we get into it let’s take a question posted by one of our members on the LandInvestors.com online community is free.
Jill DeWit: Georgia M. asks, “Hi. During the Thursday member call-”
Steven Butala: What the heck?
Jill DeWit: Thank you. “I think I recall Jill saying that there would be somewhere on this Land Investors site which I have the criteria listed for what’s required when submitting a deal for funding. I see the FAQ, but I’m not sure if that’s it. Please let me know. Thanks.” The criteria for submitting … Oh would you go back up again?
Steven Butala: Submitting a deal funding deal to us.
Jill DeWit: Okay yeah. The criteria that’s a very good question.
Steven Butala: There’s criteria up there.
Jill DeWit: The criteria-
Steven Butala: I put it up there.
Jill DeWit: Is what is needed when you fill out the form. For example, who you are? How many deals have you done? Everything about the property so I can look it up. I need to know do you have a signed purchase agreement? I need to know are you dealing … Are the sellers-
Steven Butala: I’m gonna put it on the screen.
Jill DeWit: Alive, able to-
Steven Butala: If you’re on YouTube you’ll see it on the screen.
Jill DeWit: Okay. So you go to deal funding.
Steven Butala: Go ahead Jill.
Jill DeWit: So on from LandInvestors.com Steven is showing us right now you go to deal funding and there’s an FAQ. There’s not really, so if you go to the funding form, there you go, and you fill out the form that’s really the criteria that you need to know about. There’s not like it has to be … there’s no criteria that says over a certain size, under certain size. Over a certain dollar amount, under a certain dollar amount. The spread needs to be this much. There’s nothing like that. So it’s just really about the property and making sure that their criteria’s you need to have, this is it, you have a good property and you need to have a committed seller.
And that’s why I asked if you have a signed purchase agreement. Now we’re talking about it I don’t want to come to me or you’re like, “We’re in negotiation.” No I want to come to me when you have this deal here’s the criteria. “Oh my goodness I cannot believe this deal.”
Steven Butala: Yeah.
Jill DeWit: “I can’t believe my bank account is in the situation it is. I would buy this right now myself. I just need an extra $10000 or whatever it is.” Now you go put it on the Land Academy deal funding and then it gets to me. And then I get to you and go, “Oh my gosh you’re right. This is fantastic. It looks great. You’ve got the signed purchase agreement. They’re ready to go. Let’s do it.” Thank you.
Steven Butala: I will also take this opportunity to talk about land tank. T-A-N-K.com. Just like Shark Tank. That, if you’re a member, the whole general public can check it out. You just can’t participate in it. But if you’re a member and you have deals coming in if I were a new person in this business or even at all, at any point in my career I would be slamming deals into Land Tank just because other members go there and fund it.
We haven’t talked about it a lot ’cause it’s still in beta. We’re probably, I don’t know, two weeks maybe 30 days I don’t know. From getting completely perfect, but people are doing their deals in there every single day. And a lot of people are submitting deals and they’re getting picked up by other-
Jill DeWit: Other members.
Steven Butala: Other members who are funding it. So-
Jill DeWit: It’s not a place that I go looking for deals, traditionally.
Steven Butala: That’s right.
Jill DeWit: But so it’s for you to put it out there like you said for all the members. If you want something from me and it’s a big one and you think this is something-
Steven Butala: It’s a smokin’ deal and you want to work with us.
Jill DeWit: Yeah.
Steven Butala: Submit it to us.
Jill DeWit: Exactly.
Steven Butala: If it’s a deal that you thinks pretty good and it can make some money put it on Land Tank. I’m being real straight.
Jill DeWit: Okay.
Steven Butala: It’s counter intuitive to … It’s always better to review more deals and pick and choose. Okay we love that.
Jill DeWit: Right.
Steven Butala: But the truth is we love great deals.
Jill DeWit: And don’t worry this is not meant to be a commercial for Land Tank, but as you’re submitting deals to me if it doesn’t meet right criteria, right now I’m gonna tell you get this on Land Tank.
Steven Butala: Yeah.
Jill DeWit: I’ll let you know that.
Steven Butala: Yeah there’s a lot like if we don’t accept it it’s not over.
Jill DeWit: Yeah.
Steven Butala: By any stretch. I mean this doesn’t meant that it’s a bad deal, but it just doesn’t fit our criteria. I mean I like to say this. There’s a ton of people buying and selling office buildings today in this country and they’re making way more money than we make, but I don’t want any part of that. I don’t like office buildings for a lot of reasons as a real estate investment.
Jill DeWit: Oh that’s a good thing. Part of my criteria is I don’t want a deal that takes more than six months to close.
Steven Butala: Yeah we’re not a long term hold-
Jill DeWit: And that would be-
Steven Butala: We’re not an improvement people, but all those things are good, we’re not adverse possession people. People make a career out of that. That’s my point.
Jill DeWit: Right.
Steven Butala: We have a real specific … The deals that we’re getting and that we’re doing are amazing. I mean they’re nothing short of amazing.
Jill DeWit: When in doubt submit it anyway. I’ll let you know.
Steven Butala: Okay. Actually you know what Jill writes that whole thing.
Jill DeWit: ‘Cause I’m doing it. I’m like I love you Steven you’re giving some good advice I’m like wait a minute I’m not sure about that one.
Steven Butala: Jill runs that whole thing and I think we’ve tripled our money in-
Jill DeWit: It’s going great.
Steven Butala: Less than two months.
Jill DeWit: It’s going awesome.
Steven Butala: And our members have you can’t calculate an ROI. As a member when you submit a deal you’re putting in zero dollars and you’re getting 50% of the return. How do you can’t-
Jill DeWit: Exactly.
Steven Butala: You can’t calculate the return. Today’s topic 1/3rd of our members are quitting their jobs. This is the meat of the show.
Jill DeWit: Okay so as we talked about on Tuesday, I believe it was, we did this awesome survey with our whole community and this was the biggest thing that I was not expecting that came back. Of everyone who took the survey when out to 100s of our members, all of our members, there are 100s, and not 1000s by the way, but so it’s … Anyway, the exact number was 33.05% have quit their day jobs to invest full-time. I fell over.
Steven Butala: This is shocking.
Jill DeWit: Fell over.
Steven Butala: I thought it was like five people.
Jill DeWit: Yep I could not believe that. And what I also thought was interesting too was that the number … I don’t have the percentage here in front of me, but the percentage of members that came to us after another program they’ve been educated somewhere else. So they got their feet wet. They understood how to do this. They figured it out. They tested it. Whatever you want to call it. And said, “All right this I want to make this my career.” They came to us and I think this is what where I see we fit in. We took them from, “I’m thinking about doing it. I’ve tested it. I’ve done six deals. I’m in man.”
But now I need the tools. I need to know how to grow my business.
Steven Butala: Send the mail.
Jill DeWit: I need to take it to the end.
Steven Butala: I need a data subscription.
Jill DeWit: All of that. And that’s where we jump in.
Steven Butala: Yeah.
Jill DeWit: I think that we came in and pushed them over the edge. So that’s really how [Isea] says, “This is important to me ’cause it confirms where I wanted to be too.” And I think I speak for you too. We are the place for you to be to take this to full-time status. If you want to be a full-time investor. ‘Cause we not only get you there with the education … I’m reading some notes ’cause I put some notes on this. We not only have education that focuses on even just getting started, but we have over the years with adding 1.0 and 2.0 you’ll see that we talk about where you need to be in your business after this point. And who needs to take over that at this point.
How to use these tools and everything. I like to say getting your business from … You’ll like this. Going from first gear to seventh gear. ‘Cause my car has seven gears.
Steven Butala: I know. I know it does. That’s where it’s coming from.
Jill DeWit: I know.
Steven Butala: Usually the analogy stops at fourth gear, but I understand.
Jill DeWit: No I went to seventh ’cause I have seven. Do you have seven?
Steven Butala: Yeah.
Jill DeWit: Okay good that’s what I thought.
Steven Butala: I do.
Jill DeWit: So.
Steven Butala: I got to seventh gear on the way to work today.
Jill DeWit: That’s … You’re, I don’t know if that’s the right thing.
Steven Butala: I got to seventh gear and the-
Jill DeWit: There’s no freeway involved let me just point this out.
Steven Butala: I went to 35 mile an hour speed.
Jill DeWit: Exactly. If you got to seventh gear without a speeding ticket touche.
Steven Butala: I was sitting in a bar a few years ago all very familiar like a Cheers situation. We all know each other. This is back in Arizona bunch of years ago and I happily walked in and reported that I just went 120 miles an hour down Scottsdale road. And this guy at the end of the bar, he’s no longer with us, but what he said he got livid about this. A lot older-
Jill DeWit: Was it Ray?
Steven Butala: No.
Jill DeWit: Oh okay.
Steven Butala: Lot older than us. He said, for whatever reason this just set him off. And he’s like, “The life that you’re gonna take might not be your own.” And I don’t know that always stuck with me for some reason, but it didn’t stop me this morning.
Jill DeWit: No I was gonna say obviously it didn’t make that much of an impact. You know it stuck with me enough that I remembered it, but not enough to change the way I operate.
Steven Butala: These cars we have now they have such traction control that you can’t really have the fun that they’re designed to have like-
Jill DeWit: You can when it’s wet.
Steven Butala: In the 70s. The 70s and 80s when we started driving. Yeah. I can’t. My car’s traction control-
Jill DeWit: Can you push, when you push the PSM off?
Steven Butala: The PSM is, it helps.
Jill DeWit: Okay.
Steven Butala: But it’s not like 1979.
Jill DeWit: Yeah. That’s true.
Steven Butala: It’s just not.
Jill DeWit: That’s true. I was thinking my car’s so flipping heavy too. It’s, but I can do it.
Steven Butala: That should make it … It’s just not there.
Jill DeWit: Yeah.
Steven Butala: So this turned into us complaining about our sports cars.
Jill DeWit: I know.
Steven Butala: Actually ridiculous.
Jill DeWit: Okay back to quitting the day jobs. So I just think this is so cool. And what I was too, what I was gonna point out, that 33.05% is the only one that I know about. That’s only the people that actually completed the survey. There’s a lot of our members that didn’t even read the dumb survey. They are like so busy their assistant got the survey and they don’t even know if this is important or not. They’re like, “It’s a survey. He told me ignore all surveys. I don’t even send it to him.” You know?
Steven Butala: Ignore all surveys.
Jill DeWit: So that’s what I think is so cool too I don’t know. And I do want to do, we’re gonna do something with that. I know you talked about a cool way to celebrate that with our members. Thank you for sharing that and if you’re one of those members right now who … Speaking of which, if you’re one of that 33.05% and I haven’t talked to you and you have five minutes can we set up a call? Please send a note to support@LandAcademy.com because I want to hear more.
Steven Butala: The survey results, we talked about it yesterday and I mean this from the bottom of my heart and soul, will dramatically change how we go forward basis how we create tools and provide stuff that you are identifying as helpful. Specifically, the live events so if you listen to the show at all we terminated all live events. And it’s because they’re a lot of work for us and a lot of work for our staff and there’s no real money for us involved truthfully.
What we learn from this survey is that what everybody wants is a networking event.
Jill DeWit: Right. That we can do.
Steven Butala: Where we can get to know each other, do deal with each other, get to know us, do deals with us so that takes all the work out of it for me.
Jill DeWit: We want to do that.
Steven Butala: And all the work out of the staff. We want to do that.
Jill DeWit: Yeah. We would want to do that for us too.
Steven Butala: So Jill’s putting together a networking event where we can all get together. Talk about would you do this deal? At the end of it have some cocktails and some dinner and all the fun stuff about a live event for everybody and non of the like sitting there lecture stuff.
Jill DeWit: And let’s all be honest that’s what we do. And part of our, because of the last live events and the networking went on pushed for Land Tank, pushed for the Deal Funding. All these things.
Steven Butala: Yeah.
Jill DeWit: And that’s stuff that we’re continuing to grow. That’s what’s so great about where we are too. Not only are you going from zero to seventh gear, none of us are stopping.
Steven Butala: Yeah.
Jill DeWit: You know we’re gonna add more things and though our members who are done, this is my full-time thing, “Hey I got money burning a hole in my pocket Jill. I need a place to do it.” Well here comes Land Tank.
Steven Butala: Yeah exactly.
Jill DeWit: We’re continue to grow those things and help you grow your business and your bank account.
Steven Butala: I’m gonna add this about quitting your job. There’s a lot of what I call garbage and noise on the internet about, “Oh you can quit your job too.”
Jill DeWit: That’s true.
Steven Butala: We’ve never led with that and never will lead with that.
Jill DeWit: Right.
Steven Butala: I think quitting your job in most cases is a really bad idea.
Jill DeWit: It’s true.
Steven Butala: And everybody I’ve ever talked to who’s a very successful in this environment or any other environment who’s quit their job ’cause they had a side gig and it finally took over said some version of this. “Wow I should’ve done that a year ago.”
Jill DeWit: Yeah.
Steven Butala: Or, “Geez I had no idea if I was spending full-time on this how successful it would’ve been.” Or, “Yeah my wife was totally against it and then at the first month I did it we made twice as much money as I thought.”
Jill DeWit: Right.
Steven Butala: So you never want to quit your job first. Ever, ever, ever.
Jill DeWit: It’s true.
Steven Butala: And then try to make it work.
Jill DeWit: Exactly.
Steven Butala: You want to sit around and say, “Wow I waited a year and a half too long to do that.”
Jill DeWit: Thank you. Thank you for bringing that up again. We haven’t talked about that in a while and you’re exactly right.
Steven Butala: Yeah. Well you’ve done it again. You’ve spent another 15 minutes or so listening to the Land Academy show. Join us next time for finance Friday with me and Jill.
Jill DeWit: Me.
Steven Butala: And Justin.
Jill DeWit: And we answer your questions posted on our online community LandInvestors.com. It’s free.
Steven Butala: You are not alone in your real estate ambition. I’m always leery of this job quitting thing. I mean we had to have the show today ’cause it’s staggering.
Jill DeWit: Right.
Steven Butala: And I don’t think that’s, for a lot of people in our group, that’s not the whole point.
Jill DeWit: No.
Steven Butala: The point is just to do two or three deals a year or a month or maybe even just buy a primary residence.
Jill DeWit: I just like [inaudible] know what’s possible. For some people you’re right that’s not what they want and that’s all good, but least to know that that’s an option. It’s possible. It’s wonderful.
Steven Butala: Maybe someday I’ll be able to quit my job.
Jill DeWit: Oh boy here’s hoping. Wherever you are watching or wherever you are listening please rate us there. We are Steve and Jill.
Steven Butala: We are Steve and Jill. Information.
Jill DeWit: And inspiration.
Steven Butala: To buy undervalued property.
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