Mailing for the Market Not Your Bank Balance (LA 1087)
Steven Butala: Steve and Jill here.
Jill Dewitt: Good day.
Steven Butala: Welcome to the Land Academy show, entertaining land investment talk. I’m Steven Jack Butala.
Jill Dewitt: And I’m Jill Dewitt, broadcasting from sunny Southern California.
Steven Butala: Today Jill and I talk about mailing for the market and not for your bank balance. Jill, this is like your topic. Can you explain it?
Jill Dewitt: Yeah, I have a story to share and I see it happen often. The gist of it is I only have $10,000 to spend and Jack and Jill, I should get 10 deals out of the way. So 10 divided by 10,000 is 1000. Thank you. So I’m going to only buy ten $1000 properties now, but the market I’m going for, it’s hard to find $1,000 properties. They’re a little more expensive than that. And that’s the preface to what I’m going to talk about and what not to do. You’re picking … I do have a hair right in my face. Excuse me while I-
Steven Butala: Groom myself.
Jill Dewitt: Exactly. I’m almost want to pull that hair, whatever it is.
Steven Butala: You know, it’s not gray, which is good.
Jill Dewitt: No, it’s not gray.
Steven Butala: Because that’s what happens to me.
Jill Dewitt: Oh, okay.
Steven Butala: The gray ones seem to stick in my face.
Jill Dewitt: Oh, okay. They just go right there. That’s called distinguished. You will never, ever, ever hear someone describe a woman as distinguished.
Steven Butala: Is that bad?
Jill Dewitt: It’s bad.
Steven Butala: Why?
Jill Dewitt: Because it’s gray and old. You don’t want to be distinguished.
Steven Butala: This is actual useful information for the listeners.
Jill Dewitt: It is.
Steven Butala: How are you supposed to describe a woman then?
Jill Dewitt: Gorgeous, beautiful.
Steven Butala: You don’t think that’s too much?
Jill Dewitt: Striking.
Steven Butala: Striking? Striking’s good.
Jill Dewitt: These are words that you could use at any age and you should, every man, you should be writing these down. Gorgeous, beautiful, striking, timeless.
Steven Butala: Ravishing.
Jill Dewitt: Ravishing. That’s fine.
Steven Butala: Stunning.
Jill Dewitt: Stunning. You know.
Steven Butala: It’s not overkill?
Jill Dewitt: Like wow. [inaudible 00:01:55]
Steven Butala: When is it too much? I always wonder that.
Jill Dewitt: Hot.
Steven Butala: When is it like, you know …
Jill Dewitt: When you say hot, smoking.
Steven Butala: When do you sit around and say, “I’m pouring it on too thick”?
Jill Dewitt: Never, ever, ever use that four letter acronym that starts with an M because we all hate that one.
Steven Butala: Ma’am?
Jill Dewitt: No, it’s M blank, blank. It’s four letters that stand for something else. That’s never-
Steven Butala: Mom?
Jill Dewitt: Nope. I’ll tell you later.
Steven Butala: Is it a bad word we can’t say on the air?
Jill Dewitt: Yeah, by my book it is.
Steven Butala: Jill, you just take us down this path and then let us all down.
Jill Dewitt: Well, they know what it is.
Steven Butala: How fast does it take to get … How soon can we get off topic on them in what we’re talking about? It’s that fast.
Jill Dewitt: Oh, I’m right. I don’t know how we got here.
Steven Butala: I’m not criticizing you. I think it’s funny. This is a Jack and Jill show moment.
Jill Dewitt: Thank you. I appreciate that. Okay.
Steven Butala: What’s the M word? Come on. You’ve got to tell us. Is it a bad, bad, bad word that we can’t say on the air?
Jill Dewitt: Come on. It’s M-I-L-F.
Steven Butala: Oh yeah.
Jill Dewitt: Yeah. You never use that.
Steven Butala: I hate that too.
Jill Dewitt: See? That’s why I didn’t want to say it. It’s kind of a bad word.
Steven Butala: All right. Well how did we get to bad words? I thought we were talking about the good words.
Jill Dewitt: Anyway.
Steven Butala: Here’s my question. When is it too thick?
Jill Dewitt: That’s what I said.
Steven Butala: No. As a guy, it’s like, all right, I’m going to tell this woman she’s pretty good looking.
Jill Dewitt: You can never compliment her too much, but you have to use the right words.
Steven Butala: It’s just a moving target for guys. I’m telling you right now.
Jill Dewitt: I don’t think so.
Steven Butala: Yeah, I have 50 years of this. 50 years at trying to say the right thing and I probably do maybe less than half of the time.
Jill Dewitt: Well, let me help you out here. Here’s what you should do. Take note of the positive responses and the negative responses.
Steven Butala: That’s the thing. Okay, hold on a second.
Jill Dewitt: Every time you get a positive response, you should, I don’t know, put it in your phone.
Steven Butala: No. I can say the exact same sentence to you-
Jill Dewitt: Really?
Steven Butala: … today.
Jill Dewitt: Really?
Steven Butala: And I can say the exact same sentence next week and it could be not good.
Jill Dewitt: Really? Try me.
Steven Butala: It’s all timing.
Jill Dewitt: Try me. I don’t believe that to be true.
Steven Butala: All right. I’m going to test this.
Jill Dewitt: No woman is not going to put a smile on our face if you say, “Wow, you look great.” Or, “Holy cow, are you losing weight?” Or you know, something like that. Like, “That is your color.” No woman will ever not smile with those sentences.
Steven Butala: Every single guy out there knows exactly what I’m talking about.
Jill Dewitt: Well, that’s not true and I don’t believe you.
Steven Butala: I think if you pick the wrong moment to say, “Baby, you look great today,” she can and will say some version of, “You’re just trying to get what you want here.”
Jill Dewitt: Well, I’m sorry-
Steven Butala: It’s all timing.
Jill Dewitt: I’m sorry in the past relationships, you may have had some other issues. Not anymore. Can we get to this show?
Steven Butala: Yeah. What’s this show about?
Jill Dewitt: All right. First, let’s take a question posted by one of our members on the Land Investors online community. It’s free.
Steven Butala: Sandy asks, and she’s not a member. Oh, you know what? I wanted to read this question anyway. “I listen to the podcasts.” Please bear in mind she’s not a member. “I listen to the podcasts. I hear you when you say that only a few counties are really bad. I have also heard to mail to counties where there are other investors because that indicates it’s a good county, but I just got off the phone with a seller who said that he had gotten at least 15 offer letters just like mine in the last year. He also wanted almost three times the average comps in the area.” Ding. Ding. This is really what this is all about. “This is not a county that Steve mentions on the podcast,” so what she’s referring to is that a few episodes ago I ran through a list of counties that you probably shouldn’t send mail to for a lot of reasons, not because they’re saturated, you just shouldn’t because it’s hard to sell in those counties is the real reason.
Steven Butala: She continues. “So what do I do? Keep mailing and hoping that they’ll pick mine or do I find a less competitive county?” Yeah, you find a county where there’s … Hold on a second. I’m going to ask you to answer this because I’m actually a little miffed.
Jill Dewitt: Okay, ready.
Steven Butala: If you go to another county, where’s the sweet spot between enough investors to make it interesting or how many so it’s not saturated? Go ahead and answer this please.
Jill Dewitt: Why do we even have to do that? Why don’t we just blaze a trail?
Steven Butala: Here’s the real problem here.
Jill Dewitt: I mean, can I finish quickly?
Steven Butala: Oh sorry, yeah.
Jill Dewitt: Yeah, I wasn’t done.
Steven Butala: Sass.
Jill Dewitt: So-
Steven Butala: Here’s what’s going on.
Jill Dewitt: Wait. In what we do all day long, every day in our program and on the show and everything is tell people how to go find a county, what you should be looking for, what triggers there are, what makes it a good county, what makes it a bad county, like you just said. All those things. So if you really are paying attention and taking notes and/or have the program, you know what to do. It’s not about a certain county. It’s about the factors that make it a good county, you know? And you should be, like I just talked to a guy the other day doing this stuff and it’s going to come up in the content here. He’s mailing in Alabama, and several counties in Alabama and coming up with some great stuff.
Jill Dewitt: I’m like, “Gosh, I don’t really know a lot of people doing Alabama.” He’s like, “Right?” He said, “I did what you said. I looked at this, I looked at that. I took into account things like driving distance from a certain area, what people can afford. You know, I happen to know something about the area. It sings to me.” Like you’re doing all this stuff right. So that’s what you should be doing. Not sitting there waiting and watching. Don’t go on Land Pin, you know where all our members are posting property and hit the same counties they are, because they’re already doing it. You should be using what you know to find your area.
Steven Butala: And I should actually, in all fairness, there’s a lot of people that piped in to answer this question on Land Investors, the website. And so at the end it gets resolved on the website.
Jill Dewitt: Okay, good.
Steven Butala: So check that out to see how she finally understands.
Jill Dewitt: Oh good.
Steven Butala: But I’ll tell ya, if you want to be a welder and you pick up a welding torch and you expect to just be a welder that day, it’s never going to happen. And that’s true with every single thing in life. If you want to know how to buy and sell land, join the group. Get some advice, you know, learn how to do this properly. Learn how to pick a county properly. She’s not a member, so the credibility just goes out the window there.
Jill Dewitt: Well, and she doesn’t have all the tools and resources to price it right.
Steven Butala: Exactly.
Jill Dewitt: And you know, so there’s a lot more to it than just going on O-to-O, offers to owners and getting our template and just winging it. So, who knows where the data even came from? That’s a scary thought.
Steven Butala: You know, I didn’t even think of that.
Jill Dewitt: Yeah. Where did she get the data? Is it like a list you bought from somebody? Now I’m afraid.
Steven Butala: There’s so many reasons why this won’t work.
Jill Dewitt: Yeah. And how new it is.
Steven Butala: If I’m using the right tools.
Jill Dewitt: And all of that.
Steven Butala: And so many reasons it will work. We have hundreds and hundreds of people who will sit around and tell you, “Wow, this is the greatest thing ever, and it only costs me 250 a month.” Today’s topic, mailing for the market, not for your bank balance. This is meat of the show.
Jill Dewitt: This for me, it came up again the other day and I love this question because this topic, it happens, like I was just describing. You have only so much money to spend and you think that you need to work within your bank balance. Well actually you don’t. So that’s the point of this. So what was going on, this individual, we did a consulting call the other day and he was telling me all the great things that he did going into the county. You know, like I started to tell on that question. “I looked at the area. I knew the area well. I mean I looked at,” I’m trying to see all the things that we teach in the stuff about, you know, it’s not too many back taxes in the area. I know it’s X amount of driving distance from a really a major city. People are going to want to go spend the weekends there. It has beautiful attributes, such as trees and hills and people might camp or fish or something like that. Maybe hunt there. I mean all the different things.
Jill Dewitt: Then he even went so far as to throw in there that, “I happen to know that the areas they’re driving to are affluent areas, so they could afford to buy property there.” Everything was just spot on. The only thing was he was mailing to his budget and the deals he got back were a couple thousand dollar, because he was really trying to maximize his budget right now. And they were getting back offers on a couple thousand dollars properties and they were just not great properties. It was $2,000 properties, which should have been $20,000 properties. If he did everything else the same, exactly the same, but sent out offers for $20,000 for properties that are worth $60,000, he would have killed it. And that was what I told him when we hung up. I said, “Just go do exact … Keep your same data. Just go up those offers and do it again, and hit the right people is what’s going on. He those bigger properties and the right price.”
Steven Butala: People who are not … This all falls under one sentence. No acquisition should go to waste. And to resolve this problem, Jill and I started two websites that are up and running and functioning. One is called Land Tank. It’s like Shark Tank for land. And House Tank. If you don’t have the money, you have a great deal. You send some mail out, you have a great deal, but you don’t have the cash to do it, post it on one of those sites. If it’s a house on House Tank, if it’s a piece of land on Land Tank. Post it on there and they will swarm like flies to fund your deal. There’s also multiple members in our group that are deal funders. Jill and I are included in that.
Steven Butala: You can go to Land Academy I guess and submit a deal, but think about it like this. People who are not full time real estate investors or you’re just getting started. Think of it like this. We all understand what a master plan community is, where there’s like thousands of houses or hundreds of houses that are all the same. They look all exactly the same. There’s maybe four models in there. Let’s say you send mail out and have somebody who wants to sell their house for a hundred grand and every single other house in there is selling for 200, and you don’t have a 100,000 bucks in your checking account. What do you do? You start calling your parents. You call your rich Uncle Skelton, whatever. But you can’t let that go to waste because you’re going to make a hundred grand on the thing, or let’s say at least 50.
Steven Butala: It’s the exact same way in land. And for some reason that doesn’t translate to new people in land. They think that they, for whatever reason, this business model, and the further I get into it, this is incorrectly so, for whatever reason, really appeals to people because of the small amount of money that it takes to actually get in.
Jill Dewitt: True. You can’t do deals that small.
Steven Butala: You can’t choose … Jill’s 100% right? You can’t choose or you shouldn’t choose acquisitions based on how much money you have. You should choose them on the quality of the deal. And if you don’t have the dough, call us or call somebody, because we won’t let it go to waste.
Jill Dewitt: Exactly.
Steven Butala: That’s part of the benefit of being in this group.
Jill Dewitt: Right. That’s the whole point. There are deals that are worthy of a $1,000 and $2,000. I see them all the time. I send out offers for five and I go, “Shucks, I’d buy it for one, maybe two. That’s as high as I’ll go,” kind of thing. But like this person, then that was a thing too, like I said. I said, “Just go back. Add a zero. When you have those deals, fund them with somebody else. What usually happens is you guys will end up splitting the profit. You’ll make way more money than if you struggled with these little ones. And then in about 90 days you don’t even have to do that because now your bank balance is where it needs to be and you’re going to go see ya. I don’t need your funding anymore,” kind of thing. Or you’re going to be start saying like everybody else does, “Hey, can I fund your deal? Can I fund your deal?” It is hilarious.
Jill Dewitt: We just started not even 90 days ago. There’s a Land Academy, it’s real estate investors and then it says in parentheses Land Academy Facebook, and there’s one for House Academy too, these Facebook groups. They’re blowing up. And I just was reading in there how many people were like, “Does anybody need money? Does anybody need money?”
Steven Butala: Oh, really?
Jill Dewitt: Yeah. It’s so funny. Everybody’s like … and so one of them I just wrote in there, I’m like, “Hey, I want to get in on this too.” So I did. I put a little personal note in there for me that said, “Hey, I fund deals too, by the way. Check out Land Academy deal funding.” So, but yeah, that’s the thing. There’s so much money out there. The real trick is, this is my last point, knowing how to find those deals, having the tools and the resources to get those offers on your desk, signed, ready to go. Then you hold all the cards.
Steven Butala: I love when these topics are so easy. This is the easiest topic we’ve ever had.
Jill Dewitt: Good. I’m glad.
Steven Butala: No good acquisition should go to waste.
Jill Dewitt: That’s right.
Steven Butala: Hey, join us next time for the episode called how much we really need to actually be on the phone in this business.
Jill Dewitt: I love it. And we answer your questions posted on our online community found at landinvestors.com. It is free.
Steven Butala: You are not alone in your real estate ambition.
Jill Dewitt: I realize I keep talking about our online community, at Land Investors, which is big. Actually that’s big.
Steven Butala: I just looked at that because I get these questions there. And it’s just there’s tens of thousands of comments and that thing got huge.
Jill Dewitt: It did. Well because there was no place.
Steven Butala: It just filled a need.
Jill Dewitt: It’s the bigger pockets of land.
Steven Butala: It filled a total little niche you need.
Jill Dewitt: It totally did, and now there’s a Facebook group that goes with it and it’s really cool. So you can get a lot of answers right away. A lot of content. Wherever you’re watching, wherever you are listening, please subscribe and rate us there. We are Steve and Jill.
Steven Butala: Information.
Jill Dewitt: And inspiration.
Steven Butala: To go off topic and off of the teleprompter.
Jill Dewitt: That’s okay. And buy undervalued property.
If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.
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