Tim Flood Shares His Land Academy Experience (LA 951)

Tim Flood Shares His Share Land Academy Experience (LA 951)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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 with Tim Flood, who shares his Land Academy member experience. Tim, how are you?

Tim Flood:                           I’m very well today, thanks. Thanks for having me on.

Jill DeWit:                            I am so happy.

Steven Butala:                   Right. Jill, go ahead.

Jill DeWit:                            I want to just say, the reason why we’re here, you’re kicking off our new series of having members be on shows. We’re gonna try to do it every Wednesday I believe now is our plans. The reason I ask you and I’m not gonna get into too much detail right now, but I’m just gonna say you are so sweet and sharing us a really cool note that you sent us in our Facebook Messenger that I’m sure was just meant to be a private little thank you rah-rah about this deal that you did and, oh my gosh, what just happened, and I’m like, “Oh, wow, okay. We gotta talk about this.”

Steven Butala:                   Let’s cut to the chase. What’s the deal that you did?

Tim Flood:                           Actually, there were two. I hit a couple of home runs this month, but one was a bases loaded grand slam home run.

Jill DeWit:                            Bases loaded grand slam.

Tim Flood:                           Yeah, we knocked it out of the park this month.

Jill DeWit:                            It doesn’t get any better than that.

Tim Flood:                           The nice deal was we bought a little five-acre parcel near Tulsa, and we bought that one for 10,000 and we sold it for 50,000.

Jill DeWit:                            Nice.

Tim Flood:                           That’s a pretty nice deal, but that wasn’t the best deal. We bought a 17-acre parcel that’s east of Tulsa and we bought it for 36 plus closing costs, so we were all in at about 38-

Jill DeWit:                            Awesome.

Tim Flood:                           And we didn’t even get a chance to market it on Facebook, which is where we do most of our marketing. I had a friend of mine go put a sign up out front and I got calls instantly.

Jill DeWit:                            Wow.

Steven Butala:                   Wow.

Jill DeWit:                            I thought-

Steven Butala:                   A sign!

Jill DeWit:                            A sign.

Tim Flood:                           Yeah, just a sign, a Home Depot For Sale By Owner sign.

Jill DeWit:                            I love it, with like a Sharpie.

Tim Flood:                           Yeah, yeah, yeah, and my number. The phone started ringing instantly.

Jill DeWit:                            Wow [crosstalk 00:02:04]-

Steven Butala:                   Why do you think? Was it the deal? Was it the location? Why do you think it was such a good response?

Jill DeWit:                            Wow.

Tim Flood:                           Yeah, it was exactly the location. One of the things that we do that’s a little different from what I think some of the other people are doing, we physically go and drive and look at each and every property that we’re gonna buy.

Steven Butala:                   Oh, that’s what Joe Hurley does.

Jill DeWit:                            Are you in Tulsa?

Tim Flood:                           No, no, no. I’m in Fort Worth.

Jill DeWit:                            Okay, all right.

Tim Flood:                           It’s a four- or five-hour drive or whatever, so it’s well worth a couple hundred bucks for a hotel room and a couple of meals out and the gas to get up there to go look around ’cause what I saw-

Steven Butala:                   It’s fun, too.

Tim Flood:                           Yeah. This area was outside of Tulsa, but it was kind of on that outer edge of the solar system. I could see the building pattern. I could see the commercial development, the convenience stores going in, the housing developments, the churches they were building. I saw which way this was going and I knew at that moment I had a goldmine ’cause I was right at the verge of where the farm fields and the construction were intersecting.

Steven Butala:                   All right. We have all these questions that we want to ask you, but-

Tim Flood:                           Sure.

Steven Butala:                   This is way more interesting. I have a bunch of questions, like … Tell us about the seller. Where they just … Was it the typical seller?

Tim Flood:                           It was really very minimal contact. We sent out an offer, so … Let me back up a minute. The mailer when it went out was a little tricky for the fact that this particular county in Tulsa was … Or this particular country in Oklahoma was partially rural, but then on the other end of the county it started to encroach into that Tulsa Metro area. I did a lot of research and I started to price it and I thought, “Well, I can’t send out the same price for all areas of the county”, so I kind of just made some arbitrary lines based on the section, township, and range.

Steven Butala:                   Beautiful.

Tim Flood:                           I said, “Okay, this area of the county gets this offer, and then all the way over on this other end, we get this … They get this offer.”

Steven Butala:                   Here’s a walking model of how this is supposed to work/

Jill DeWit:                            Beautiful.

Steven Butala:                   You really, really took some time and did an intelligent mailer.

Tim Flood:                           Yeah, and so it was somewhat arbitrary, but at some point I had to pull the trigger and the mailer went out. I think I offered them 2,000 an acre and it was sold as 35,000 and change and they said, “We’ll accept 36.” I said, “Well, okay. Sure.”

Jill DeWit:                            Awesome.

Tim Flood:                           It was really … I didn’t get their backstory. I called an abstract company out of Oklahoma and I just, “I want to buy this property from X, Y, Z seller”, and that was really the end of it. I never talked to ’em. I don’t know their story.

Jill DeWit:                            That’s great.

Steven Butala:                   Was it a cash sale? There’s no financing or anything?

Tim Flood:                           Correct.

Jill DeWit:                            Nice.

Steven Butala:                   Who bought it? What’s that profile there? Don’t you care?

Tim Flood:                           Not so much. No, this is really … This is kind [crosstalk 00:04:47]-

Jill DeWit:                            Check’s cleared, that’s really all that matters.

Tim Flood:                           This is kind of interesting. We bought the property and we had title insurance and we went through the whole abstract, so we knew we had a good, clean title for the next buyer. Again, we put the sign up, we get a lot of calls, and I just shot to the moon. I thought, “You know, no one is gonna pay me anymore than I’m asking, so I’m gonna come up with … Dream up the highest number I can think of.” I thought, “I’m gonna [crosstalk 00:05:12]-

Steven Butala:                   What Jill does.

Tim Flood:                           “I’m gonna ask $150,000 for this property and I’m gonna see what happens.”

Jill DeWit:                            Why not?

Tim Flood:                           There’s a guy, and based on his email address, I think he owns some kind of construction company or a concrete company or something. He said, “Will you take 130,000 for it?” Now, remember, we’re all in at 38, and so I’m trying to play Johnny Cool Breeze on the phone with this guy, you know? I said, “Well, yeah, I guess we’ll take that.” He wants to do some inspections, which is all … Of course you would with that kind of money and he wants to put maybe some houses or driveways in or whatever.

Jill DeWit:                            Wow.

Tim Flood:                           Man, he hems and haws about it for about a week. I said, “Mr”, whatever his name was. I said, “Man, I gotta know something. I need to move on this pretty quick. I got a lot of other calls behind you.” Finally, he calls me, says, “Look, man, I had this problem with my financing and I can’t do this and that.” I said, “Okay, so thanks for letting me know.” Again, my phone is ringing off the hook, so I went to the next buyer, number two, and I said, “Hey, listen, buyer number one dropped out of the race, so you’re next in line.” I said, “But, I’m not gonna take anything less than $150,000 for this property.” He said, “I’m happy to do it. I can’t wait.”

Jill DeWit:                            Wow.

Tim Flood:                           Just by holding off a few days for buyer number one to fool around with it, we made $20,000 just by holding onto it and going to the next buyer.

Jill DeWit:                            Wow.

Steven Butala:                   Amazing.

Tim Flood:                           Now, his story [crosstalk 00:06:40]-

Jill DeWit:                            That is fantastic. When you messaged us, it was at the 130 sale price.

Tim Flood:                           That’s correct [crosstalk 00:06:46]-

Jill DeWit:                            It went up $20,000.

Tim Flood:                           That’s right. Between the private message I sent you and now, we made another 20,000 on it.

Jill DeWit:                            20,000 on it. Is that great?

Steven Butala:                   Just by playing it cool.

Jill DeWit:                            I know.

Steven Butala:                   I tell you want, I wouldn’t have done that. I would’ve taken the 130 in one minute.

Tim Flood:                           This other buyer … This is the interesting part. He had let me know a little bit, maybe a little too much. I’m reading some different books on negotiation, thanks to the one-day event we had and I’m trying to learn a little bit. This other buyer, buyer number two, let me know a little too much. “Well, my Daddy’s land is over there on the north side and I’m trying to get the family farm put back together and I’ve been saving up for 20 years for this property.” I said, “Oh, sure, I’d love to help ya. I can’t wait to help you with this farm.”

Jill DeWit:                            Exactly.

Tim Flood:                           I said, “The price is gonna cost you what it’s gonna cost you”, but I said, “Don’t worry, you’re gonna make out fine. I’ve seen Tulsa and how it’s growing. You’re gonna be fine.” Maybe he does sell it in a few years and he makes a gazillion dollars. I’m happy for him.

Jill DeWit:                            Exactly [crosstalk 00:07:42]-

Tim Flood:                           All in [crosstalk 00:07:43]-

Jill DeWit:                            I would have put a shopping mall there.

Tim Flood:                           We’re all in at 38, we sold it for 150, so-

Steven Butala:                   Amazing.

Tim Flood:                           That’s a pretty good return. I was pleased with that.

Jill DeWit:                            That is so awesome. I want to back up here for a minute and ask … Tim, what is your backstory? What have you been doing before you got to us?

Tim Flood:                           Oh, well, this is the beauty of this. I’m a perfect candidate for anybody that’s new or listening. I have zero skills or … I told you this. I never would have come up with this business. If you paid me 40 hours a week in a quiet room to dream up business ideas, I never would have come up with this.

Jill DeWit:                            Wow.

Tim Flood:                           I first … I was selling some stuff on Amazon, which meant I ended up with a barn full of crap out in my backyard.

Steven Butala:                   Yeah, we’ve all been there.

Tim Flood:                           I was trying to figure out how to get rid of this stuff and I was just looking for podcasts on eBay, and because of the search terms, I literally stumbled across your podcast totally by accident because it was “sell land on eBay”.

Jill DeWit:                            Great.

Tim Flood:                           At that time, you were at about, I don’t know, episode 50-ish. I can remember you … I remember specifically Luke Smith’s first interview. He had just done his first mailer at that time.

Jill DeWit:                            Wow.

Steven Butala:                   I remember, you’ve been around for quite some time [crosstalk 00:08:59]-

Jill DeWit:                            That’s so cool.

Steven Butala:                   Like, probably 2015 or ’16, right?

Tim Flood:                           Yeah. I think we bought the educational kit in the spring of 2016, and [crosstalk 00:09:06] I’m in construction, or was in construction and my partner’s in the diesel industry. We were both very busy and we were just … We were doing okay. We were doing some little fives and sevens. We were making some money, but not enough to justify a career change at that time.

Tim Flood:                           Last October, I lost my job in construction, which was a real beatdown at that time, but come to find out it’s been really the biggest blessing in my life.

Steven Butala:                   Every single person in our group who loses their job-

Jill DeWit:                            I’ve goosebumps.

Steven Butala:                   Becomes like a bajillioniare.

Jill DeWit:                            Exactly.

Tim Flood:                           Well, what I did at that time, my wife was not supportive of this idea, but I said, “Look, for the” … This was about October 1 … I said, “Look, for the next 90 days, I’m not gonna do anything but keep my head down and I’m gonna make a run at this as hard as I can run. I’m gonna try. I have to try.”

Jill DeWit:                            Awesome.

Tim Flood:                           I said, “If worse comes to worse, I’ll go back into construction if this fails.”

Steven Butala:                   Sure.

Tim Flood:                           I forget what exactly was on our inventory, but we had five or seven or 10 properties or whatever it was, and I said, “My goal is to sell all of these properties by the end of the year.” I got the last call … I sold the very last property we were … It was New Year’s Eve and we were traveling that day [crosstalk 00:10:22]-

Jill DeWit:                            That’s so cool.

Tim Flood:                           At about 4 PM, there was a guy that called me and said, “Hey, I want that property”, and that’s [crosstalk 00:10:27]-

Jill DeWit:                            Nice.

Tim Flood:                           When I knew I had made the right decision ’cause I had completed my goals somehow.

Jill DeWit:                            Wow [crosstalk 00:10:32]-

Tim Flood:                           It makes sense, your holiday theory.

Jill DeWit:                            Thank you. It does prove my holiday theory.

Tim Flood:                           Oh, yeah. I’ll tell you that, Jill. I sold more properties over the holiday last year than … I sold a bunch of properties and made a bunch of money [crosstalk 00:10:44]-

Jill DeWit:                            Thanks, Tim.

Tim Flood:                           During the holiday season. People will buy property during the holidays if you work at it.

Steven Butala:                   I stand corrected [crosstalk 00:10:49]-

Tim Flood:                           Now, look-

Jill DeWit:                            I agree.

Tim Flood:                           This holiday 2019, if I’m doing a little better, I may be a little lazier. People may not buy as much property, you know? If I’m kicking back or in front of the fire or whatever, but I worked hard at it.

Jill DeWit:                            That’s so [crosstalk 00:11:02]-

Tim Flood:                           I was on the phone and I was on the computer and I was … Everything I could think of to do to sell property.

Jill DeWit:                            That’s awesome.

Tim Flood:                           We had some pretty audacious financial goals that we were intended to meet by the end of that year and we were within a couple hundred bucks.

Jill DeWit:                            Wow.

Steven Butala:                   A couple hundred dollars?

Tim Flood:                           Yeah.

Jill DeWit:                            That’s awesome.

Tim Flood:                           Yeah. I mean, we hit it like bullseye, and then-

Steven Butala:                   Will you share the goals with us?

Tim Flood:                           Yeah. We wanted to have a hundred thousand dollars in the bank by the end of the year-

Jill DeWit:                            Perfect.

Tim Flood:                           And we were at 99 and change or something like that.

Jill DeWit:                            Is that … On New Year’s Eve, is that when your wife said, “All right, Tim, I trust you. You’ve clearly got this”?

Tim Flood:                           No. She hasn’t said that yet.

Jill DeWit:                            Oh, no.

Tim Flood:                           She’s pretty cool about this whole business, I’ll tell you. She snuck [crosstalk 00:11:51] in today on me just to check on me to make sure I was working [crosstalk 00:11:53]-

Jill DeWit:                            That’s funny [crosstalk 00:11:53].

Tim Flood:                           She’s pretty [crosstalk 00:11:55]-

Steven Butala:                   Does that [crosstalk 00:11:55]-

Tim Flood:                           Cool about this.

Steven Butala:                   Even today. Even now, Jill does that to me.

Jill DeWit:                            That’s kind of funny.

Tim Flood:                           “What are you doing in there?”

Jill DeWit:                            You need to goof off now and then, though. I get it. I get it. Wow.

Tim Flood:                           Look, I gave my life to the construction industry, and at almost 50 years old, I had zero to show for it. Zero.

Jill DeWit:                            Wow.

Tim Flood:                           With our two home runs this month, I have made more money in the month of March than a construction superintendent makes in a year and a half.

Jill DeWit:                            Wow.

Steven Butala:                   I mean, I’ll tell ya, I have a very similar story in accounting, just a decade of nothing to show for it.

Jill DeWit:                            It’s amazing. What was it about … What triggered you to … This was … Was it because you understood the value of properties because of what you were doing? That said, “Hey, there might be something here”? Or, these guys are obviously crazy and I’m crazy, too, maybe we’ll all … Maybe these are my tribe”?

Tim Flood:                           I think so, Jill. Again, I wouldn’t have come up with slipping rural land. I never would have thought of that, and we just started doing what you guys said to do.

Jill DeWit:                            Cool.

Tim Flood:                           I didn’t do it perfect, but I did it to the best of my ability and I got mailers out and I looked at properties and we bought some stinkers along the way and we learned from those lessons and-

Jill DeWit:                            Love it.

Tim Flood:                           And now we kind of know what to look for, you know? Now we know who to call and how to find out the answers to those things we didn’t know before.

Jill DeWit:                            It’s amazing.

Steven Butala:                   This is super interesting. Not a data person really, and you’ve … Is this the first company you’ve ever owned?

Tim Flood:                           Mm-hmm (affirmative). Yes.

Steven Butala:                   You’re proving me wrong.

Jill DeWit:                            It’s great.

Steven Butala:                   Like, this is good, actually. How was your data downloads, scrubbing, and whole mailer experience? This is [crosstalk 00:13:38]-

Tim Flood:                           Well, I’m [crosstalk 00:13:38]-

Steven Butala:                   You sent your mailers [crosstalk 00:13:39] out before offers to owner, too, right?

Tim Flood:                           Yeah. We used the other company, and I can’t remember who … Whatever they were. We used them at first [crosstalk 00:13:47]. I’m pretty [crosstalk 00:13:47] with that sale [crosstalk 00:13:49]-

Jill DeWit:                            Yeah. That was a long time ago. You [crosstalk 00:13:52] before we had [crosstalk 00:13:55] … Before we had the Real Quest and everything for everybody, right? You were doing it on your own totally.

Tim Flood:                           No, no, no. We did use Real Quest. You had … When we joined, you had Real Quest around, but it was another mailer company.

Jill DeWit:                            We had Data to Doorstep, and then … Okay, cool. Awesome.

Steven Butala:                   Was this a tough learning curve for you on a data mail piece, mail merch piece?

Tim Flood:                           No, not so much. I’m somewhat savvy with computers. I mean, I’m not [crosstalk 00:14:20] like a construction hand. I went to college and so I know Excel. I didn’t have too much trouble with that, but no, I’ve never owned a business. That part of it, even to this day, I’ve still gotta take some classes on tax planning and how to do the cash flow and all of those kind of things. None of that means anything to me. We’re … so …

Steven Butala:                   The smartest people on the planet have not figured out even cash flow and tax planning, so you’re fine.

Jill DeWit:                            You’re fine. We goof it up now and then.

Steven Butala:                   Yeah, we do.

Jill DeWit:                            You’re just [crosstalk 00:14:53] fine.

Steven Butala:                   Me too.

Tim Flood:                           All those resources are out there. I talked to … There’s a group called SCORE, Service Corp of Retired Executives, and they have some classes and they’re cheap and affordable, and so I’m gonna start taking classes [crosstalk 00:15:05]-

Jill DeWit:                            That’s cool.

Tim Flood:                           Now that I have the time and the luxury. No, I’ve never owned a [crosstalk 00:15:10] business, and that part of it I’m not real strong on, but I have the mechanics of the actual land business down pretty fair now. I don’t want to say I’m an expert, but somewhat. I kind of got the idea.

Jill DeWit:                            Are you still doing this all on your own? Have you hired help? Are you thinking about that yet? Like [inaudible 00:15:29]-

Tim Flood:                           We’ve tried some VAs. Personally, that has not worked out for me. I have a partner, a guy that I’ve known for 20 years … In fact, I told you I listened to the first, whatever, 50 or whatever episodes and I sent this to a buddy of mine who’s always been just my idea dreamer friend, you know?

Jill DeWit:                            Mm-hmm (affirmative).

Tim Flood:                           I said, “Hey, man, I want you to take a listen to this?” He called me back in three or four days later and he said, “Man, we can do this. This is something we can do.”

Jill DeWit:                            Wow.

Tim Flood:                           He was fired up, and at [crosstalk 00:15:57] moment our business was born and he and I are 50-50 partners in the corporation.

Jill DeWit:                            Wow.

Steven Butala:                   Excellent.

Jill DeWit:                            Okay, that’s [crosstalk 00:16:02]-

Tim Flood:                           He’s kind of the backend. I think we have some pretty good videos and stuff that we do now. He’s kind of in charge of that end of it, ’cause that’s not my forte and I’m the quote unquote “pretty face” behind the business, so I’m the guy out front and I do the phone calls and I talk to people and close the deals and all that. He’s kind of the backend guy on the website and the internet and the videos and all that.

Jill DeWit:                            Perfect.

Steven Butala:                   You hit your 2018 goal. What are you trying to do in ’19?

Tim Flood:                           It’s audacious. It’s big.

Jill DeWit:                            Oh good. This is awesome.

Tim Flood:                           We are on the verge of 200,000 in the bank and our goal for June/July timeframe is 400,000 in the bank.

Steven Butala:                   Good.

Jill DeWit:                            Nice. You’re gonna do it, you know what?

Steven Butala:                   Oh yeah.

Jill DeWit:                            You will do it. It’s like, if you’re that … You’re making … It’s not … When you really put it out there and write it down and talk about it and have a plan and you just … It will happen. Every person I talk to that really gets real specific and says, “This is what’s gonna gonna do it”, happened. Some reason, it just happens.

Steven Butala:                   Do you do that Jill? Do you have like a financial goal for 2019?

Jill DeWit:                            You know, I haven’t … Honestly I haven’t reset my goals. I need to, so … Honestly, it’s because you set our goals. He really sets our goals, so I sit back and I go, “Oh, I know that’s gonna happen.” You just sent out an email the other day resetting our goals and I’m like, “Yep, I see it coming.”

Steven Butala:                   Well, our staff does now, and they’re much bigger than mine, and so mine don’t have to do it.

Jill DeWit:                            Yeah, they up their own goals. It’s really great. I come in, I’m like, “What are we doing?” They’re like, “These are new numbers.” I’m like, “Wow, this is great!” It’s usually around data and mail. It’s all of that included. It’s really cool. In properties and selling land, so I do have my own goals there, by the way. I’m gonna have a million in the bank. Well, more than that, but my first goal is my million in the bank was just our little deal funding that I’m doing.

Steven Butala:                   We had a separate project, dealing funding, Tim, but Jill’s taking that on and started with next to nothing and it’s very rapidly growing.

Jill DeWit:                            Yeah. Have you thought about using that yet? Are you looking at bigger properties? Have you tried LandTank?

Tim Flood:                           Yeah, in fact, I had a property I posted on LandTank and got a lot of favorable response. I did a little more research on it and I had to go back to the seller and say, “Hey, there’s some confusion about what you own or don’t own. You sold some stuff.” He’s looking at that now, but the thing that’s changed is now we have some resources, so we don’t have to scramble and buy just anything that we think might work. We can really hold out and we can buy bigger parcels. We might be in a position … We’re starting to talk a little bit about funding deals ourself, so we have a lot [crosstalk 00:18:49]-

Jill DeWit:                            Good.

Tim Flood:                           More flexibility and latitude about where we’re gonna be able to go in the next [crosstalk 00:18:53] few months once we start to build up this war chest we’re planning on.

Jill DeWit:                            I [crosstalk 00:18:57]-

Steven Butala:                   That’s great.

Jill DeWit:                            Love it. This is what … This is the growth that I didn’t see coming and I love it.

Steven Butala:                   Me too. I didn’t see any of this when we started this.

Jill DeWit:                            Now, you’re moving into that next level, and so that makes my job to keep bringing in new people so you can fund their deals, and then everybody moves up. I love it. I [crosstalk 00:19:26] that-

Tim Flood:                           Yeah, we intend to start buying bigger properties … Excuse me. There was an expression we heard at that one-day event in Fort Worth about “buy it by the ranch, sell it by the pasture”, and we really liked that, so we want to start looking at bigger parcels in Texas and maybe some subdividing and some things like that. I really can see that this can … This is not just a five-acre parcel in the woods somewhere. This is something a lot bigger than that. We intend to kind of pursue that and see where it takes us.

Steven Butala:                   Ask my next question. Working off that 150,000-dollar deal you did, do you recall what the zoning was there?

Tim Flood:                           Rural Ag.

Steven Butala:                   Just rural? Oh, so it’s agriculture. Was … Did the end user intend to use it as agriculture land?

Tim Flood:                           I don’t know what his plan is. Again, his Dad owns the 18 acres and he wants to kind of rejoin the family pieces. As far as I know, they just want to have it to be in the family. I don’t know what his plans are beyond that.

Jill DeWit:                            That’s cool.

Steven Butala:                   Have you explored different … Branch out into different product types? Different types of land? Maybe houses or anything else?

Tim Flood:                           Not at this time, because the rural vacant land seems to work so well for us. Again, I think we’re right at that threshold where we do have some options. Yeah, in my head and my mind’s eye, I thought about playing with things and maybe we … I have been in construction so long, maybe we get a dirt guy to improve this or clear and grub this, or maybe we get a concrete guy to put in a little thing over here, a driveway or some … I mean, those kind of things I’m thinking about. We don’t have a firm plan, but again, I can see where it would go that way pretty easily.

Jill DeWit:                            Awesome.

Steven Butala:                   We covered [crosstalk 00:21:04] the signage thing. How else have you sold property successfully in the past?

Tim Flood:                           I have to tell you, we really have developed a Facebook marketing machine that’s been pretty incredible for us [crosstalk 00:21:15] and we didn’t really intend to. We intended to use Facebook as one of many avenues, but we’re getting out to so many people now.

Jill DeWit:                            Beautiful.

Tim Flood:                           In fact, my partner was talking to somebody and our stuff is starting to show up on other people’s feeds without being boosted, without paying for ads. We’re starting to really … We have-

Jill DeWit:                            Wow.

Tim Flood:                           Over a thousand and something likes and followers.

Jill DeWit:                            That’s great!

Tim Flood:                           Yeah, so [crosstalk 00:21:41] we’ve primarily used Facebook.

Jill DeWit:                            That’s great!

Steven Butala:                   If you’re comfortable with it, can you describe it in detail? If you’re comfortable.

Tim Flood:                           I don’t understand your question, I’m sorry.

Steven Butala:                   The Facebook … There’s a lot of different ways you can use Facebook. Can you describe [crosstalk 00:21:54]-

Tim Flood:                           Oh, okay-

Steven Butala:                   How you use it?

Tim Flood:                           Yeah, sure. I’m latecomer to Facebook. For the longest time, I saw my wife on there and I thought, “That is the dumbest thing ever. Who cares if you’re eating enchiladas for dinner?”

Steven Butala:                   Me too. Same thing.

Jill DeWit:                            I’ll agree.

Tim Flood:                           When I wanted a business page and I started investigating, I found out to my knowledge, you can’t have a business page without it being a subset of your personal page, so I created this personal page, and I see why it’s a little addictive. It’s kind of fun. You get the … “Hey everybody, like this thing.” We created this business page, Rural Land Watch, and we just started posting stuff and posting stuff, and then there’s a thing that you can boost that and you can set your target demographics and we want all males between 21 and 40 who are interested in deer hunting and ATVs in this … Outside of Muskogee, Oklahoma.

Tim Flood:                           We just … We started tinkering with that and we boosted ads and boosted ads and we made posts and we just posted pictures and videos. People just started liking the stuff, and once we got so many likes, now it’s kind of taken on a life … Not a life of its own, but it’s gained momentum.

Steven Butala:                   It’s a classic success story. You’ve basically fell ass backwards into this whole entire thing.

Tim Flood:                           It was dumb luck [crosstalk 00:23:10]-

Steven Butala:                   Didn’t like Facebook, but you know it’s the power.

Tim Flood:                           We knew that’s where the eyeballs were. That … We knew we had to get on Facebook ’cause that’s where everyone is, so [crosstalk 00:23:20] yeah. We didn’t … I didn’t know anything about it, so …

Jill DeWit:                            Yeah, that’s amazing. I love it. Okay, so you have some big pictures goals for this year monetarily. Do you have like a five-year plan? How is this gonna … To wrap this up, how is this gonna end for you?

Steven Butala:                   I wanna know what it’s gonna take to make your wife happy?

Jill DeWit:                            And that?

Tim Flood:                           All right. I’m gonna tell you guys because … I know this is gonna go to the Land Community and no further. My wife and kids are big, big fans of Disneyland and I’m a big of Disney to the extent that I love my family, right?

Steven Butala:                   Sounds like you.

Tim Flood:                           That’s not my dream vacation, but that’s their dream vacation. We’ve been a few times and that’s what they want. My buddy is down in Houston and I’ve got this kind of scheme in my mind. Again, she’s not gonna hear this podcast, so I told him … I said, “Look, here’s what we’re gonna do. In the summer when we reach this big hairy financial goal, I want you and your wife to write a big, hairy check to my wife. I’m gonna say” [crosstalk 00:24:31] … Sunny’s her name … “Sunny, we gotta go down to Houston. We’re gonna have dinner and we’re gonna celebrate our victory.” I’m gonna play it real cool.

Jill DeWit:                            Perfect.

Tim Flood:                           At dinner, he’s gonna hand her not only the check, but the Disney planning guide so that she makes the connection immediately that the check is for the Disney trip. We’re gonna stay in the big … The Disney resort on campus, the big bucks. Eat the Disney meals and do the whole … The-

Jill DeWit:                            Yay!

Tim Flood:                           24-carat gold Disney trip. I think at that point I will have finally won her over.

Jill DeWit:                            That’s awesome.

Steven Butala:                   Hey, will you promise us that we … Can we live like [crosstalk 00:25:10]-

Jill DeWit:                            I want to see a picture of this [crosstalk 00:25:10]-

Steven Butala:                   A half-hour from Disneyland?

Tim Flood:                           I’ll post it on Facebook, Jill.

Jill DeWit:                            Okay, good. Thank you.

Steven Butala:                   We live a half-hour from there, so call us and we’ll [crosstalk 00:25:18]-

Jill DeWit:                            Are you talking Disneyland or Disney World?

Steven Butala:                   Oh, Florida or [crosstalk 00:25:20]-

Tim Flood:                           Disneyland is our favorite, ’cause we been … That was our first Disney trip and that’s kind of the magic for our family is the Disneyland.

Steven Butala:                   Okay, good.

Jill DeWit:                            We got the Stars Wars thing open up here soon here in May I think [crosstalk 00:25:32]-

Tim Flood:                           Yeah, yeah.

Steven Butala:                   Which one is ours? Land or world?

Jill DeWit:                            I’m excited. Land. Yeah, so [crosstalk 00:25:37]

Tim Flood:                           Heck, yeah [crosstalk 00:25:37]-

Jill DeWit:                            I’m excited [crosstalk 00:25:38]-

Steven Butala:                   Just call. We’ll [crosstalk 00:25:39]-

Jill DeWit:                            Yeah, let me know. We’ll come out and have dinner.

Tim Flood:                           All right. Yeah. I’ll treat.

Jill DeWit:                            Thank you.

Steven Butala:                   It’ll be fun.

Tim Flood:                           Yeah, so that’s kind of the … My goal with my wife to really kind of … She’s more supportive now ’cause the numbers are getting bigger and bigger and I’m keeping her informed and she sees that this is working.

Jill DeWit:                            Smart.

Tim Flood:                           Yeah, so I think that she’ll come onboard, and I don’t want to go too much into this, but we got some family things to take care. Some debts and vehicles and some housing things that [crosstalk 00:26:05]-

Steven Butala:                   Like everyone.

Tim Flood:                           Yeah, and I’m doing this all in steps and in sequence, right? Gotta build the business and when we get to X, then we’re gonna pay off the debt and then we’re gonna do this with the vehicle, and then we’re gonna do this with the house and [crosstalk 00:26:22]-

Jill DeWit:                            Smart.

Steven Butala:                   Did you know all of this about Tim before we did this interview?

Jill DeWit:                            I did not know all of this about Tim [crosstalk 00:26:22]-

Steven Butala:                   I thought it was just gonna be like a regular like thing.

Jill DeWit:                            No, this is awesome.

Steven Butala:                   Like, yeah, I send some mail out and I buy some property.

Jill DeWit:                            I hit a home run. I didn’t even know it got that much better, too. It’s so good.

Tim Flood:                           I was [crosstalk 00:26:32] thinking about it, it is … It’s one part following the system that you guys teach, it’s one part blind luck that I stumbled onto this, and it’s one part that we drove to the property and saw it.

Steven Butala:                   I think there’s something there. Like, I can honestly say … I can say this honestly, I’ve never seen a property that we’ve purchased since we pre-sold. I’ve never-

Jill DeWit:                            Not-

Steven Butala:                   Gone to a piece of real estate that we’ve owned ever, and I’ve never put a sign on anything. This is getting … We Facebooked the heck out of everything, so this is getting me thinking that [crosstalk 00:27:03]-

Jill DeWit:                            Yeah, maybe there’s a whole new [crosstalk 00:27:04] thing that-

Steven Butala:                   Maybe we should do fewer deals [crosstalk 00:27:05]-

Tim Flood:                           Well, we bought a drone and so I always take drone video of each property and [crosstalk 00:27:12]-

Jill DeWit:                            That’s great.

Tim Flood:                           And I do a kind of a little, “Here I am” … We call it the Aw Shucks, you know? “Aw shucks, this is Tim from Rural Land Watch and let me tell you about this property I got.”

Steven Butala:                   Oh my God [crosstalk 00:27:23]-

Jill DeWit:                            This is great!

Tim Flood:                           It’s the Aw Shucks routine.

Jill DeWit:                            I love it. This is really good.

Steven Butala:                   It’s fantastic.

Tim Flood:                           I walk each property with the video and I do the Aw Shucks and here’s the road and here’s your power lines and here’s the other thing you want to see, and let me tell you about the duck hunting you’re gonna be able to do here-

Jill DeWit:                            I [crosstalk 00:27:41]-

Tim Flood:                           And then the drone footage, and then my partner kind of ties all of that together and makes a really nice video out of it.

Jill DeWit:                            That’s awesome. Well, I’m gonna go look for these now, too [crosstalk 00:27:49]-

Steven Butala:                   Yeah, me, too.

Jill DeWit:                            I can’t wait to see ’em.

Tim Flood:                           Well … Yeah. It’s Rural Land Watch, and we’ve got a little Facebook page and-

Jill DeWit:                            Great.

Tim Flood:                           And it … Yeah.

Jill DeWit:                            That’s fantastic.

Steven Butala:                   You know, you’re a walking model of partnerships, too. My business really took off when Jill became a partner.

Jill DeWit:                            Thank you.

Steven Butala:                   It’s just … I mean, can you talk a little bit about that? The good … Is there anything bad about having the partner that you have? You probably can’t talk about it on the air, but …

Tim Flood:                           Well, he chooses to remain anonymous because of his career, so let’s just call him Mr. X for the [crosstalk 00:28:22]-

Jill DeWit:                            Got it.

Tim Flood:                           The point of this conversation. Mr. X and I … I’ve known the guy for 20 years. We’ve been just buddies and friends and I think we may actually have a Ben & Jerry’s-type success story rather than the thousands of other partnerships that don’t work. We just get along well. We don’t bicker and feud, and if we do have a disagreement, we’re able to work it out real quickly. Again [crosstalk 00:28:45] I’m-

Jill DeWit:                            Exactly.

Steven Butala:                   Just joking.

Tim Flood:                           He’s strong where I’m weak, and then again, I take kind of the front leadership visible role and he’s content with that and so it seems to work out.

Jill DeWit:                            It’s good.

Tim Flood:                           With his career, we’re … We have an official agreement on paper, but because of my situation, having lost my job and having to keep my family fed and stuff, we’re just working it out, you know?

Jill DeWit:                            That’s great.

Tim Flood:                           I’m drawing a salary from the corporation and he’s not at this time. We’re just gonna work it all out. At some point the money’s gonna be there and everybody’s gonna get caught up and made whole and that’s how it’s gonna work.

Steven Butala:                   You trust each other?

Jill DeWit:                            I love that.

Tim Flood:                           Yeah, yeah, yeah.

Steven Butala:                   It’s trust.

Jill DeWit:                            Yeah, that’s huge. That’s wonderful. Well, any last advice or tips you want to give to someone who’s just found this and …

Tim Flood:                           Well, again, I would just say this. I’m the poster child for if I can do it, anybody can do it. I don’t have any skill set prior to this that would lead me to success in this business model. I’ve never owned a business, I didn’t really know anything about buying or flipping. I wouldn’t have considered it. I literally was so dumb, I just did what you said and didn’t think too much about it.

Jill DeWit:                            That’s [crosstalk 00:30:03]-

Tim Flood:                           If they’re somebody that’s new, just … I’ll say this, Steve, that everything you said from the very beginning, from running that Craigslist ad, everything happened exactly like you said it would happen.

Jill DeWit:                            Yay.

Tim Flood:                           I have no reason to believe that it wouldn’t continue to happen or happen for anyone else, you know? I did that ’cause you said the point of the Craigslist ad was not to make money or to gain traffic or to get leads, just to see. You can do this for free. I said, “Well, let me see.” I posted the free Craigslist ad and exactly what you said happened happened. The same thing from that moment forward. It’s all worked exactly like you guys have said. If [crosstalk 00:30:48] somebody’s new, just do it.

Steven Butala:                   That’s really [crosstalk 00:30:50] good to hear, because I’ll tell ya, as you probably know, the vast … At this point with Land Academy itself, what gets to Jill and I is usually bad news. It’s usually some disgruntled person who couldn’t figure out how to get a mailer out. It’s so nice to hear from somebody who’s successful long term, not just like last month. Long-term success, so it’s great, man. We’re proud of ya. I mean, I know this works, so it’s a little bit at times, not so much recently, but at times it’s frustrating. It’s like, “Man, I know this stuff works and I’ve done it. We do it all the time.”

Tim Flood:                           Yeah [crosstalk 00:31:23] we just sent in … Our most recent … Well, our most mailer in another town here in Texas just hit, and it’s predictable results. We get a whole bunch of no’s and there’s one maybe but at a higher price, and I’m looking at that property, seeing what we can justify paying for it. They’re gonna come in and now my next mailer’s gonna go out and the next one and the next one. It’s just … It works that simple.

Steven Butala:                   What’s your mailer yield like? Like, how many do you send out to purchase?

Tim Flood:                           I try and target about 3,000 mailers per month, and I don’t worry so much … I think I heard you say something about 1% at one time, and I kind of gave up worrying about that part of it [crosstalk 00:32:06]-

Jill DeWit:                            That’s good.

Tim Flood:                           Because that was like this quota thing that I couldn’t figure out why I wasn’t meeting. We just buy what we buy-

Steven Butala:                   Okay, good [crosstalk 00:32:12]-

Jill DeWit:                            Perfect [crosstalk 00:32:12]-

Tim Flood:                           Beyond that, it’s not relevant-

Jill DeWit:                            Exactly.

Tim Flood:                           ‘Cause what have found as we go into bigger and bigger properties, it’s not that hard to outspend the money we have in the bank. I don’t necessarily need to hit a certain quota or percentage, I just need to buy good properties at the right price, what I can buy.

Steven Butala:                   It’s about dollars for you now-

Jill DeWit:                            I love it.

Steven Butala:                   Not percentages?

Tim Flood:                           Yeah.

Steven Butala:                   Yeah, that’s [crosstalk 00:32:34]-

Jill DeWit:                            Yeah, I love it. It’s working.

Tim Flood:                           Like that one I was telling you about that’s the guy’s got survey it and get it ciphered out, maybe that’ll come to fruition and be another one, or maybe it won’t, but at what point do you draw the line and say, “Okay, from this point … I’m at 1% from here back”, or … We just don’t worry about the percentages or the hit ratio, we just buy what we buy.

Jill DeWit:                            That’s wonderful. I’m so glad. Well, thank you so much for joining us today, Tim. This was so great, and I really appreciate [crosstalk 00:33:02]-

Tim Flood:                           Thanks for having me.

Jill DeWit:                            Taking the time and giving us your whole story and telling us your goals. It’s inspirational for me-

Steven Butala:                   Me, too.

Jill DeWit:                            That’s … For me, this is why we’re here, so …

Tim Flood:                           Well, I said this in the private message and if anybody’s listening that didn’t see it, I’m telling you, you guys have changed my family’s life.

Jill DeWit:                            Thank you.

Tim Flood:                           This … From … You have changed the course. I didn’t come up with this idea. I did what you said and my family’s life is gonna be different because of it, you know?

Jill DeWit:                            Thank you, Tim. I’m really [crosstalk 00:33:30] happy to hear that.

Steven Butala:                   That’s great to hear.

Jill DeWit:                            Thank you.

Steven Butala:                   Well, you did it again. You spent another 20 minutes or so listening to The Land Academy Show. Join us next time for the episode called Hiring, Training, and Trusting: Your Land Company VA.

Jill DeWit:                            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.

Steven Butala:                   Tim, again, it’s [crosstalk 00:33:53]-

Jill DeWit:                            Thank you.

Steven Butala:                   This is [crosstalk 00:33:55]-

Jill DeWit:                            Like, I’m trying to hold back the tears here.

Steven Butala:                   A pleasant surprise. Like, I … We interview … At times, we interview people and I just … I never know what to expect and this is just a wonderful little surprise.

Jill DeWit:                            So good.

Tim Flood:                           Well, thanks for having me. I enjoyed it [crosstalk 00:34:07]-

Jill DeWit:                            Thank you for reaching out to us and sending that note. I would have never known and I am so happy and excited and proud of everything that you’re doing, and please keep doing that.

Tim Flood:                           Well, I don’t want to be the guy that’s always bragging about numbers, but I’ll be honest, I’m a little bit proud of what we did this month. I wanted to [crosstalk 00:34:26] at least let … I wanted to crow just a little bit [crosstalk 00:34:26]-

Jill DeWit:                            You should, and I’ll do it with you.

Steven Butala:                   Yeah [crosstalk 00:34:30] brag about our numbers, too.

Jill DeWit:                            You do. Wherever you’re watching or wherever you’re listening, please rate us fair. We are Steve and Jill [crosstalk 00:34:38]-

Steven Butala:                   We are Steve and Jill. Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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