Other Ways to Use Real Quest Assessor Data (LA 944)

Other Ways to Use Real Quest Assessor Data (LA 944)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Good morning. Good afternoon [crosstalk 00:00:05].

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

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

Steven Butala:                   Today, Jill and I talk about other ways to use Real Quest Assessor Data of which we are licensed providers.

Jill DeWit:                            Of all, yeah.

Steven Butala:                   This is what the show is about. If you think about this, you have the name, and address, and a tremendous amount of data about the piece of real estate that they own anywhere.

Jill DeWit:                            Yep.

Steven Butala:                   What could you help them achieve if you have the name, and address, and a super effective efficient way to contacting them.

Jill DeWit:                            Yep.

Steven Butala:                   That’s what we’re talking about today.

Jill DeWit:                            Cool.

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.

Jill DeWit:                            Ben C asks, “A quick question for everyone. Do you have a preference between mailing tax delinquent lists or normal mailing lists? Do you get a better response percentage for those that may target tax delinquent lists, how many years of delinquency do you look at, i.e. two years delinquent, three years delinquent? Do you combine your price break and the back taxes together when assessing the offer? What percentage are you typically offering? Thank you.” This is a good question. We haven’t talked about this in a while.

Steven Butala:                   We haven’t and I love how …

Jill DeWit:                            [crosstalk 00:01:29].

Steven Butala:                   You know, it used to miff you.

Jill DeWit:                            Two parts. Oh, yeah. I used to get really all fired up about this. I still am kind of fired about this, but it’s okay Ben.

Steven Butala:                   So, go ahead. I want to hear what you have to say now that you’ve taken a year and cooled off a bit.

Jill DeWit:                            I have cooled off a little bit. Don’t even say driving for dollars because that will make a whole, I don’t want to bring that up. That’s a whole other rant. First of all, no, we don’t. How do I say this?

Steven Butala:                   Let me help you. All right, let me start off real quick.

Jill DeWit:                            Okay, you go ahead.

Steven Butala:                   We never ever mail tax delinquent only property’s.

Jill DeWit:                            Single out. Correct. Only, is the key word there.

Steven Butala:                   Yeah.

Jill DeWit:                            We mail them all, not single them out. Why, because the percentage of those that are problems are huge. If you single out all the bad ones, all the tax delinquent, I mean, for a lot of them, there’s a reason why they’re not paying their taxes. There’s a problem there and do you really want to take that on, number one? We have found and I just watched this discussion, maybe I saw the same thread too in the online community because I saw people saying, you know, “Don’t do it.” How many people that I buy property from that the taxes are current? That’s what I like too and that’s what we get. Most of them are people that are current. Didn’t know they could stop paying their taxes and are thrilled to sell their property.

Jill DeWit:                            They’re like, “Yay, I didn’t know I could not pay them.” That’s number one. My second point is if you’re going to sit and go line by line, by the way, and figure out if they’re two years, or three years, or one year, or how far behind on back taxes, you’ll never get the mail out. Think about how long it would take to do a 1,500 unit mailer and filling in all that information. We don’t even go there. I’m totally stealing this. Can I keep going?

Steven Butala:                   Yeah.

Jill DeWit:                            Okay, good.

Steven Butala:                   No, I want you to. I’ll just wrap some stuff up at the end.

Jill DeWit:                            Okay, good. What you want to do is download all the data. Don’t scrub them out. Leave them in. Don’t spend the time and when the calls come back, that’s simply a question that you ask, and then you confirm it for yourself and you might factor that into your offer price. For example, say you sent out a mailer to buy all these two-acre properties in this great gorgeous area for $5,000, let’s just say, and your response comes back and you have a gentleman, or however many that has a property that owes, you know, $1,500 in the back taxes and you’re pretty happy with your $5,000 offer. That’s a good offer.

Jill DeWit:                            Your conversation with them would be, “Look, here’s the deal. You can pay the taxes and I’ll pay the $5,000 that I offered you because that’s a more than I was factoring, or I’ll just make it $3,000. You don’t have to think about it. I’ll take care of that and we’re all good.” That’s how that goes.

Steven Butala:                   There’s a huge misconception about property taxes that are defaulted on or delinquent. It’s a sign that’s something is really wrong.

Jill DeWit:                            Right.

Steven Butala:                   That is not the reason that we purpose unwanted land or anybody in our group purchases it is because the person that receives the offer has a life incident that goes on to have them say, “Do you know what? I do need $5,000 or $50,000 of money right now. I would like to convert this asset that I’m never going to use. It’s unwanted anyway for a cheaper price rather than go through a realtor or any other way that I can sell it.” Tax back property usually means the person is dead.

Jill DeWit:                            That’s true.

Steven Butala:                   You have to undo a lot of stuff and whoever is receiving the tax bill or opening their mail, if it’s anybody, errors or whatever, they don’t care anymore. You’re just asking for trouble. We had a member several years ago, that’s my very, that’s the fastest way can describe that. I could do a whole show on this. We had a member years ago do a study because they came to us just mailing back tax property from another group. After about two years with us and mailing, I mean the whole point of this to yield, mail or yield.

Jill DeWit:                            Right.

Steven Butala:                   Let’s think about this philosophically.

Jill DeWit:                            That’s true.

Steven Butala:                   Why would somebody ask this question? Because they don’t want to send out, like we recommend a letter to everybody who qualifies for their acquisition. For some reason, they just want to send out a smaller mailer and get a higher yield. They want to save money on mail, or they don’t really do the whole mailer like we teach, or like we say, even though we bought 13, 15, no, $16,000 deals like that.

Jill DeWit:                            Or they’ve been taught maybe a less effective way.

Steven Butala:                   Oh, that’s okay.

Jill DeWit:                            That’s my nice way of saying it.

Steven Butala:                   Our way, if you mail everybody after you scrub the data, including some of these properties, you’re going to buy a piece of rural vacant land for every 300 mailers you send. For 300 mailers, you’re just going to buy a property.

Jill DeWit:                            Right.

Steven Butala:                   With back tax property, for every mailer, for every single back tax property mailer you send out, it’s a lot higher, but you send out fewer. You have to sift through all the stuff that goes on with it.

Jill DeWit:                            That’s right.

Steven Butala:                   People who’ve passes away. You get a lot of signed stuff back.

Jill DeWit:                            Yeah and it’s the wrong people.

Steven Butala:                   Because they open your letter and say, “Oh, here’s another, this guy doesn’t know.”

Jill DeWit:                            Doesn’t know what’s going on at all. Sure, I’ll do it.

Steven Butala:                   [crosstalk 00:06:50] eighteen years ago and there’s all this, this, and this, and this, oh, I’ll sign this. Let’s see if this sucker will do it.

Jill DeWit:                            And solve my problem.

Steven Butala:                   That’s what happens. I’ve said it to everybody.

Jill DeWit:                            Back to your study too, we had a member that that’s true.

Steven Butala:                   Oh, yeah, yeah.

Jill DeWit:                            He came back and said he actually tracked the results and said, “Oh, my goodness.” I remember I reposted it in all of our Facebook’s. I made a point to show this study because he said the yield was lower. “I got less ROI. They were worse properties, and my time invested was so high.” He’s like forget it. I’m done. I’m not doing that because he went from only doing the back tax to throwing them all in there.

Steven Butala:                   It’s very technical, actually.

Jill DeWit:                            You know, so that’s my thing. I always say, “I don’t mail only back tax. I don’t discriminate though and exclude them. I leave them in and see what comes out.”

Steven Butala:                   Yeah.

Jill DeWit:                            So, thank you.

Steven Butala:                   This leads me to another simple point.

Jill DeWit:                            Uh-oh. There’s nothing simple when he says this. This is good.

Steven Butala:                   The real reason I included this because it’s not so much this question.

Jill DeWit:                            Okay, yeah.

Steven Butala:                   The vast majority of people, everybody in our group knows this, but the vast majority of the people know that I wonder why people question us?

Jill DeWit:                            All right.

Steven Butala:                   Bless you.

Jill DeWit:                            Excuse me.

Steven Butala:                   That’s a good sneeze.

Jill DeWit:                            Oh, thank you. How funny is that?

Steven Butala:                   Like, our [crosstalk 00:08:08].

Jill DeWit:                            Excuse me, my on-air sneeze.

Steven Butala:                   We had this all figured out. I’ve made just about every single mistake that you could make in this business, since 1999.

Jill DeWit:                            I think that they, in their defense, may have incorrectly heard a way of doing this which no matter what, mailing somebody, you can get something, but do you want to get the best results, and the best properties, and the fastest return, and the fastest transactions? That’s what we’re all about. We’re all about, do you know what? That’s the thing, we’re about let’s make it easy for ourselves, not harder for ourselves. Could you do this and make some money? Sure you could.

Steven Butala:                   All these years, and I agree with you.

Jill DeWit:                            You’re going to be hitting your head against the wall and oh, my God.

Steven Butala:                   We’re not knocking this person.

Jill DeWit:                            Yeah.

Steven Butala:                   But, let me as you a couple of … you’re on the front lines with everybody. In all the years, I want you to be totally honest, that we’ve been doing this, has anyone after a year of doing it said, “Do you know what? I’ve been sending mail out just like you guys tell me. I’ve been doing this whole thing and it just doesn’t work for me. It doesn’t work. I want my money back.”

Jill DeWit:                            No. Isn’t that hilarious? Nope.

Steven Butala:                   Not one single person.

Jill DeWit:                            Not one. Not one.

Steven Butala:                   The fact is this, here’s the numbers.

Jill DeWit:                            It’s true. Don’t trust me. Go look on our online community and ask them.

Steven Butala:                   We have questions, a bunch of people in our group, but I’m not trying to sell anything here.

Jill DeWit:                            No, I’m just …

Steven Butala:                   We have a bunch of people in our group, a lot actually, and I think maybe two to four people leave our group a month.

Jill DeWit:                            And it’s usually a life’s …

Steven Butala:                   It’s all for personal reasons.

Jill DeWit:                            We know it’s so great too. We should start tracking this.

Steven Butala:                   That’s actually amazing.

Jill DeWit:                            The people that do have to take a step back, it’s usually a take a step back and then they come back.

Steven Butala:                   And then they come back.

Jill DeWit:                            I know. It makes me feel so good.

Steven Butala:                   Because they had a baby or something, not just you know?

Jill DeWit:                            Something has happens.

Steven Butala:                   It’s not bad, it’s just life stuff.

Jill DeWit:                            No, a move, a life changer, right? There’s some personal, usually, it’s a personal event when someone, and they’re all so sweet about it too. They’re like, “I’m so sorry. I need to hit the pause button.” Or, just even the guy I did a consulting call with a couple of months ago, he said, “Do you know? I knew it was me. My head wasn’t in the game.”

Steven Butala:                   Yeah.

Jill DeWit:                            He said, “That’s why I’m back now.” He said, “Part of me coming back was, A, I sat myself down, had a discussion with myself to make sure I was going to stay on track because that was a problem.” And then, he scheduled a call with me to talk about it and make sure he’s going at this the right way, and motivated, and get him rolling, so yep. I get it. Stuff happens. I’m sorry.

Steven Butala:                   Nice topic.

Jill DeWit:                            That’s why I’m the inspirational one.

Steven Butala:                   That’s right. Other ways to use Real Quest Assessor data.

Jill DeWit:                            Oh, yeah.

Steven Butala:                   Full disclosure, Jill and I were Land Academy the company.

Jill DeWit:                            Yep.

Steven Butala:                   We’re licensed providers of all three major real estate data sources, Real Quest, Title Pro 24/7, and Data Tree.

Jill DeWit:                            I like to say why.

Steven Butala:                   Go ahead.

Jill DeWit:                            The reason why we are licensed providers of all of this is because of our members because they came to us years ago and said, “All right. We’ve got Land Academy. We figured it out. We know what you guys are doing. We want to do this. Where do we go get the data?” We said, “Well, go get it over here.” They were all separately paying for their own annual subscriptions to have the same [inaudible 00:11:21] that we had. Finally, it got to the point where they came to us and said, “Look, we know there’s several of us doing this. Can you guys work out a better price for us?” And here we are and that’s what we did.

Steven Butala:                   Exactly.

Jill DeWit:                            And that’s why we’re providers.

Steven Butala:                   And we’re proud of it. I don’t know any other entity that’s licensed providers of all three. Really, I don’t anybody who’s licensed provider in our real estate investor world, even just one.

Jill DeWit:                            I know. No one’s that about that. I don’t get it.

Steven Butala:                   When you think about this, like I alluded to you in the beginning, the very beginning of the show, when you think about owning data, or using, downloading data, and think about where you live, and all of a sudden overnight, you know that who lives around you, and how to contact them efficiently. We use it for acquisitions and whole groups uses it to effectively send a blind offer to every single person that owns a piece of real estate that qualifies for you. In our case, it’s land, in a given area, whether it’s a zip code, a county, or a polygon that you draw on a map. The very, very obvious, at least to me, other use for this data is to find buyers.

Jill DeWit:                            Ah, that’s what I just going to say, we also use it for sales.

Steven Butala:                   How do you do that? Well, Sally Smith and John Smith don’t own these 300 pieces of land in Mohave County, Arizona. X, Y, Z LLC does. Believe me, they either want to get rid of it, or they want more. They don’t want to just sit there with it.

Jill DeWit:                            Exactly.

Steven Butala:                   It’s a very healthy part of the whole acquisition and sales process to get to know these people that own a lot of properties that are, and it could be John and Sally Smith, who knows.

Jill DeWit:                            Right.

Steven Butala:                   Anybody who owns a lot of property in one area is going to either want more or they’re going to want to see it.

Jill DeWit:                            Exactly.

Steven Butala:                   Or develop it something like that.

Jill DeWit:                            There’s a reason why they’re buying up the neighborhood.

Steven Butala:                   We had somebody in our group, a contractor a couple of years ago, use this data, joined our group, used this data to contact people after a hail storm to see if they needed a roof replacement. There’s lots of home improvement, especially with the data set up now. When we started this, when we started to be licensed providers for assessor data, that’s all it was. Now, the mortgage, there’s lots of different sources of data that go into these lines, every single line.

Jill DeWit:                            It’s true.

Steven Butala:                   There’s mortgage information, almost to the month, mortgage information.

Jill DeWit:                            Exactly.

Steven Butala:                   There’s prior sales history.

Jill DeWit:                            Right.

Steven Butala:                   There’s algorithmic data included specifically in Data Tree about what they think the property is worth.

Jill DeWit:                            Yeah.

Steven Butala:                   It’s amazing. It’s endless, and it only gets better. Every month they send us notes.

Jill DeWit:                            Well, even the actual details about the asset.

Steven Butala:                   [crosstalk 00:14:02].

Jill DeWit:                            Do you want to know if it has a pool? Do you want to know which direction the house faces?

Steven Butala:                   Three bedrooms, two bedrooms.

Jill DeWit:                            What kind of roof it has.

Steven Butala:                   Square footage, garage.

Jill DeWit:                            What kind of, all kinds of things about it.

Steven Butala:                   Basement.

Jill DeWit:                            That you could use. Well, I was just going to say, here’s a random one too, you know, I had a friend here local to us who was doing a community outreach program, and she was trying to get, trying to figure out a way to, a cheaper way to, instead of doing like door hangers, or something that would just hit everyone. She wanted to hit the owners of the properties, not just the renters and the tenants, and things too. I said, “I can help you.” I helped her that data because it was all for a charity nonprofit kind of community thing.

Steven Butala:                   Exactly.

Jill DeWit:                            So, I helped with that. I was happy to supply to that for her and that saved a lot of time and a lot of money too, by the way. I also think it’s kind of interesting, and I see it as just for doing own due diligence for myself. I want to see how my home is assessed. I might want to check on some things. I don’t know, it’s just nice to have all that. Know what the community knows. Know what everybody else knows too, I like to check that out.

Steven Butala:                   Right.

Jill DeWit:                            What else do you see?

Steven Butala:                   A long time ago, a very long time ago, long before we started Land Academy, I was talking to a guy in a bar, and he was a lot younger than me, and he’s asking me what I do for a living. I say, “Hey, this is what we do. We buy property. We send a bunch of mail out.” And the kid just looked at me. This happens a lot at my age. He looked at me, and he kind of laughed, even though he has no experience at anything at all, including probably breathing. He looked at me and said, “That’s kind of funny. That’s appropriate for your age to send something in through the US post office.” To which I responded, “That’s hilarious because watch us coming.”

Jill DeWit:                            Yep.

Steven Butala:                   Data is not going away.

Jill DeWit:                            Nope.

Steven Butala:                   The mail, not in my lifetime, and probably your lifetime, will not go away, but at some point, data will include an email address, possibly SMS, text messages. These things are already getting worked on. The cost of sending mail is going down, not up because if efficiencies in software.

Jill DeWit:                            It’s true.

Steven Butala:                   How things are getting delivered to someone’s house, everybody’s got a vested interest in that. Companies like Amazon, and food delivery companies, that’s stuff is going to be dropped down from the sky at some point here, in our lifetime if they ever figure out these drones so that they don’t hit each other, they’re going to be delivering the mail. This is all getting more efficient, not less efficient, but the concept is never going to change.

Jill DeWit:                            Right.

Steven Butala:                   You’re going to contact, you know, I used to do this before the internet with the fax machine.

Jill DeWit:                            Right.

Steven Butala:                   Did I sit around when that stopped and when they changed the laws, and said you can’t do that anymore? Did I say, “Oh, well it’s over. My business model is over, and I can’t do this anymore.”

Jill DeWit:                            Yep, oh well.

Steven Butala:                   No, I just adjusted.

Jill DeWit:                            Figured out another way.

Steven Butala:                   If you need to send a little note via drone in two years, that might happen.

Jill DeWit:                            It’s true.

Steven Butala:                   Or, if it ends up being email, or SMS. There’s a lot of different ways that we’re … there are people that are entities that are huge that have a massive multi-billion-dollar vested interest in keeping the system in place for a lot of reasons.

Jill DeWit:                            Exactly, yep.

Steven Butala:                   We’re just using it to make our own doe.

Jill DeWit:                            Ding, ding.

Steven Butala:                   I encourage you to, we have a call actually in a couple of days to discuss, well by the time this airs, the call will have already happened, and we’re going to talk about the commercial real estate and the land that Jill and I buy, so that’s another way to use Real Quest Assessor data. At the moment, we’re all buying land and in about a month with the release of House Academy. There’s a lot of different ways to use it.

Jill DeWit:                            There is.

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 for an episode called, Direct Mail Acquisition Ideas.

Jill DeWit:                            Awesome. 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.

Jill DeWit:                            I hope that wasn’t a dry show. Do you think it was kind of dry? They’ll tell us.

Steven Butala:                   I don’t know.

Jill DeWit:                            Hey, tell us. Sometimes data week, here’s the thing, we’re going into it, you know, we’re the weirdo’s. We are kind of weirdo’s. I love data. I even saw my data as the new bacon campaign that I did a little while back. I love that. I believe that. Sometimes, I’m like we talk data and people are like oh, boy. They tune out. Hey, if you’re listening, you obviously like data. I hope you do. You’re learning.

Steven Butala:                   If you don’t understand or like data, and understand the power of it, there’s other shows.

Jill DeWit:                            That’s true, that talk nothing about data.

Steven Butala:                   That’s right.

Jill DeWit:                            Let us know please by rating us wherever you are watching or listening. 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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