Advice Current Members Have for New Investors (LA 1148)
Advice Current Members Have for New Investors (LA 1148)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Academy show, entertaining land investment talk. I’m Steven Jack Butala.
Jill DeWit: And I’m Jill Dewitt, broadcasting from sunny Southern California.
Steven Butala: Today, Jill and I talk about advice current members have for new investors. Jill and I did a survey. Well Jill did a survey. I did nothing. I just learned about that there’s a survey.
Jill DeWit: Yeah, we do this every year by the way.
Steven Butala: And one of the questions is what is your best piece of advice for anyone just starting out, and more than a hundred people piped in, so which is a pretty good number. So we’re going to take some of the highlighted answers and the advice that some of our successful members have and share it.
Jill DeWit: It’s really good.
Steven Butala: Before we get into it though, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free.
Jill DeWit: I peeked and saw this really isn’t kind of a question. This is kind of an update and I think it’s cool. And I remember you guys, Eric and Abby said, “Hi Jack and Jill. I just want to give you guys a quick update. My wife and I joined Land Academy a year or so ago and we just completed a 100 deals, 74 for cash, 26 on terms and then there’s a report here. We can go in and see what they did. We feel grateful and wanting to thank you so much for sharing this business with us. We’re also looking forward to Car Academy. Please keep up the good work. Best, Derek and Abby. Thanks you. Yeah.
Steven Butala: A hundred deals in a year.
Jill DeWit: Isn’t it amazing? This is people don’t, people look at me like I’m nuts and it comes, it’s going to come out and this, this, the surveys are reasonable results. But I’m like if you can do one, you can do 10 and if you can do 10 you can do a 100 and Abby and Erica just have proven that.
Steven Butala: Car Academy’s going to come out in the first quarter of 2020 and what’s taking so long as we’re building a website. so you can go in there and very simply it’s a very simple website. The backend is very complicated, but it looks simple like Google where you can say in zip code eight five two five eight I would like to know, all the information for make and a model.
Steven Butala: So let’s say a Honda Civic from the years, model year 2015 to 2017 and how many are there? Click the button. It says there’s 471. Do you want to download the data? Yes I do. And you download it just like a Land Academy and House Academy and you have all their information including their phone number. And so you can send them offers and you do the research. It’s very, very simple. It’s just like the other House Academy, Land Academy. You do the research on what you want to send an offer and use offers to owners to send it or call them. All the data’s there. It’s actually pretty cool. It’s just taking a while to build out the website. The education part’s not hard.
Jill DeWit: Thank you for that plus.
Steven Butala: Today’s topic, advice current members have for new investors. This is the meat of the show.
Jill DeWit: I love this. This makes me so happy. We do this at the end of the year and it helps us. A, figure out what training and things. I mean a, it’s, well two parts. A, we know we’re on the right track and then B, it helps us plan for the next year on what training or what new programs or what new tools or resources people need to grow their businesses.
Jill DeWit: And I love this question and it’s so it’s, it’s just wonderful. So let me just dive in. Okay. So the question is what’s your, flat out, what is your best piece of advice for anyone just starting out. And it was a free field. You could type in anything you wanted. And some of these are funny too. So I, I’ve got several. Once you decide to move forward, do not give up, make it work. Just start mailing and figured out as you go.
Steven Butala: I love that, you know, that’s, I’m a big planner. But man, I have, I believe that, the sooner you fail, the sooner you succeed. Then I, whenever we start something out new, whenever I personally start something out new, I usually start stuff new. Get in there, shake the cage, see if it passes all my tests, kick it around it, really abuse it to see if it, whatever it is. Whether it’s buying a company or buying a piece of real estate. And when it passes all my tests and it’s actually going to be viable and this is like one out of 10 times usually. Then Jill starts to hear about it and so I think that’s a good-
Jill DeWit: It’s true.
Steven Butala: A good model to use. Well it works for me anyway.
Jill DeWit: Thank you. Watch the videos more than once, but don’t hold off too long on the first mailer, have a good understanding, but on the job training, is the best type of training. I believe in that too.
Steven Butala: There’s hundreds of these, Jill’s just highlighted the ones-
Jill DeWit: I’m just picking up my favorites here, but you’ll start to see the theme here. Do your pricing research and get your mail out. Everything else will take care of itself.
Steven Butala: That’s true.
Jill DeWit: I love this is a different one too. If capital constrained, use deal funding. Yeah.
Steven Butala: If you send a mailer out and you don’t have any idea what you’re doing, but you price it right, that meant the calls and the mail is going to come back. And then you have no choice.
Jill DeWit: Right.
Steven Butala: You have to deal with it.
Jill DeWit: Exactly.
Steven Butala: You have to answer the calls and get those deals done. And again, maybe you screw it all up the first time. Who cares? Who cares?
Jill DeWit: Well, right here, watch the videos. Do what it says. Send loads of mails. Listen to, watch the podcast, read the forum posts. Gain confidence that this really works, and it does.
Steven Butala: That’s good adice.
Jill DeWit: This is my favorite, one of my favorites. Send mail. Do it. Pick a damn county and send mail. That’s the only way to start. lol.
Steven Butala: That’s true.
Jill DeWit: I love it. So many people overthink it. Yep. And like this one. Educate yourself and learn the process, but don’t overanalyze. Get the offers out. That’s so true. Accomplish something every day.
Steven Butala: That’s true.
Jill DeWit: Set goals to get a mailer out within one month.
Steven Butala: Maybe one week.
Jill DeWit: Read the forums, write down questions. Perfect. Stay focused. Just do it. I knew zero of real estate two years ago. One year only with Land Academy and just constantly learned every day and make the leap and do it. Just follow the system. Don’t try to change it and just get offers out. Use the Land Academy community and experience investors for advice.
Steven Butala: Heck yes.
Jill DeWit: That’s huge. Who has that? I mean that’s what’s so nice and it’s free. I mean you can go on our online community right now on landinvestors.com and ask any question you want.
Steven Butala: There’s bigger pockets too. Biggerpockets.com. If you don’t know about that, it’s a, it’s a large-
Jill DeWit: Great for houses.
Steven Butala: Landinvestors.com yeah.
Jill DeWit: Listen to as many podcasts and episodes as you can. Take notes, start making an outline of what it will take to go from having no properties to selling your first one. Add each step that will need to happen and watch the videos related to that step and then when you feel like you could handle that, handle it, send them, send the offers. I love it. It’s your business. If you’re not sure how to start, learn from others, podcasts, forums, etc cetera. But do something to get started aside from learning. Do something every day.
Steven Butala: This is a business.
Jill DeWit: Yeah.
Steven Butala: You know, you could buy a convenience store.
Jill DeWit: It’s true.
Steven Butala: Or he could do this.
Jill DeWit: Right. Send mail, send mail, send mail. This is so good. I’ve told this, I’ve told this to so many people that have asked me, including current members, I’ve recommended if you follow the program, do exactly what it says. There’s absolutely no way you can fail. That is a powerful statement. Only a lack of trying or personal excuses prevent you from making money using this program. That great. These are anonymous. By the way. This survey is totally anonymous, so we don’t know who this is, who wrote these things. So, and that’s why I think too, we get real answers. People can really speak freeware freely and I love it. Great.
Steven Butala: There’s a lot of people, especially like you listen to this podcasts and we answer questions, obviously, on every episode. And so people like one a couple of days ago was, a, hey, you know, you guys ever consider sending out emails instead of mail? What the hell is that?
Jill DeWit: Right. I know.
Steven Butala: This is exactly what this person just said. Really the for the first time out, get a deal done, my way, trust, trust me on this.
Jill DeWit: It’s true.
Steven Butala: Get a deal done my way, and then get as creative as you’d like.
Jill DeWit: Once, once you learn, complete the program, go on every Land Academy weekly call, watch a ton of their podcasts. Start. Mail Trust. The process is exactly as Steven and Jill describe it so you’ll have proof of concept in no time after you mail. It’s a numbers game. Send mail.
Steven Butala: It’s a numbers game.
Jill DeWit: Yep. Just do exactly what the course says and send out mail. Stop asking questions.
Steven Butala: See a trend here?
Jill DeWit: You don’t know this business model yet. The course works, sit down, shut up and do what it says. That’s what he said.
Steven Butala: How do you know it’s a he?
Jill DeWit: Oh, that’s true. I don’t know if it’s a guy or a girl. But I think it’s awesome. I like this one too. This is not a hobby. Make a plan and hit your goals. There will be setbacks. Make sure there are way more successes than setbacks.
Steven Butala: All right. Here’s some fun, non-highlighted ones. Ready. Fire. Aim. Don’t worry about it. Your homework. Do your homework and follow the program…. Know your why. I, wow that’s good advice too. Focus on one thing. Read the fine print. What’s read the fine print?
Jill DeWit: I don’t know. I think that’s funny.
Steven Butala: I think that’s somebody’s joke.
Jill DeWit: Yeah.
Steven Butala: Just start. Just dive in. Be patient and diligent and believe in yourself. That’s probably a woman.
Jill DeWit: Why do you say that?
Steven Butala: Because they don’t have patience. Patience is not part of this. Barreling through it. Like a, you know, a hundred miles an hour as part of this. Just do it.
Jill DeWit: Just fricking mail it already. At least for me, I wish I had started sooner. I want to know everything. Well I don’t, and it’s okay. I’m learning along the way. Buyers and sellers are understanding if you’re honest and yeah, be honest and transparent.
Steven Butala: That’s really good advice.
Jill DeWit: Thank you. That was good. Somebody really listened to me on that one.
Steven Butala: Patience and consistent effort.
Jill DeWit: Send mails early as possible.
Steven Butala: Do you think this patience? This never considered, I never considered that. That’s two people now that has said patience.
Jill DeWit: Well sweetheart, that’s my day is filled with patience.
Steven Butala: I mean there’s a lot of moving parts to this.
Jill DeWit: There are. But you got to be, because you know there’s, there’s a lot of things you’ve got to figure out. I mean, it’s not just, I mean, you’re picking and counting. There’s a lot that goes into that. You’re pricing it that a lot that goes into that. It goes out in the mail. You got to think about the calls coming in, gotta be writing for them. Picking and then selecting the right ones to buy and then posting it for sale. That’s you could, there’s a lot of little things. We have a total roadmap for you, obviously, and help you and we’re here to help you literally, you know, we’re here all. We’re not going to let you fall that far all the way. But you’ve got to have patience and get through some stuff. Some of the stuff doesn’t come easy to everybody. I think that’s where the patients comes in.
Steven Butala: There’s a lot of moving parts. It takes a while to learn. But you know, I don’t think this, this requires patience. There’s a lot of, it’s, you know, it’s probably complicated for somebody who’s brand new. I don’t know.
Jill DeWit: But you know what, every time I say that we are, we are pleasantly surprised. We know people that were brand new, they didn’t know Excel and they’re in the advanced group. So I’ve stopped questioning and I, and I never really did. But if you, if you’ve got the motivation, you can, you can do anything.
Steven Butala: Buy as much as you can. Say yes to every deal and get outside money if you need to complete the transactions. Everything sells eventually and it’s best to make 25% of a bunch of deals rather than 0% of none. If that makes sense, also take time to get a professional web presence.
Jill DeWit: So many people have blank-
Steven Butala: Poopy.
Jill DeWit: Poopy websites. That’s kind of funny. Stick with it. Dedication.
Steven Butala: Find a mentor. This is good stuff Jill.
Jill DeWit: It’s really good. So I hope you get, you get, you get the, you get the gist of it here. It’s really, Hey, and you know, that was one of the things we talked about I think a week ago on one of our shows. When we talked about the results. The majority of the people did dive in. Like we suggest get a mailer out within the first month or the first like 60 days and that’s huge.
Steven Butala: There it is-
Jill DeWit: Once you get going.
Steven Butala: We have a little bit of time left. Here’s another question. If you’ve completed a deal, how long did it take for you to complete your first deal. Within a week? 0%. Within the first month? 16%. One to three months? 55%. Three to six months? 17% Six to 12 months? 4%. In a year plus? 6%. The vast majority of the people, did it, vast majority, in the first one to three months. So what does that tell you? You got to get a mailer out. You have to get a mailer out, hopefully like the third week. We have really successful members get it out the first week.
Jill DeWit: Well, I have to say too, by the way, how many, look how many were comfortable enough like ready to go?
Steven Butala: Right.
Jill DeWit: It’s great. I love this stuff. This makes me happy.
Steven Butala: Here’s the, this is pertains to exactly what I just said. If you sent a mailer out, how quickly did you send out your first mailer after signing up? Within the first week? 7%. Within the first month? 47%. One to three months? 33%. And then it dramatically goes down. We could do this all day.
Jill DeWit: We could. I think we’ve made our point.
Steven Butala: The point is send some mail out.
Jill DeWit: Yeah. And, and, and it, it’s unanimous. This is 2020. Congratulations. We’re all here. We’re here. We’re here to help you. Happy You could join us today. Every Monday, Wednesday and Friday. You can find us right here on the Land Academy show. Tuesdays and Thursdays, zip on over to catch us on the House Academy show.
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