Does the Topic of X Repel or Attract You (LA 1183)

Does the Topic of X Repel or Attract You (LA 1183)

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 DeWit, broadcasting from sunny Southern California.
Steven Butala:
Today, Jill and I talked about, does the topic of X repel you or attract you? Does the topic of talking on the phone repel you or attract you? Does the topic of going to college repel you or attract you? Taking on a husband, repel you or attract you, or do you just really want a wedding?
Jill DeWit:
Restaurant picking, menu planning, laundry.
Steven Butala:
And my whole point, I can save us a bunch of time because Jill has a lot to say-
Jill DeWit:
Car shopping.
Steven Butala:
… if stuff repels you, don’t do it.
Jill DeWit:
Hold on a moment. Let’s talk about … I have more to say on this.
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:
Mike wrote, “Hi, all. I got a call from a landowner who wanted to sell us their property. It has access to a main river, which I believe leads right to the ocean, but no access from the land. Obviously…” It had access to, but no … okay. But not directly from the land. Okay. “Obviously, there are a few properties in the area like this, but much less that had been bought and sold recently. It’s 3.3 acres for $5,800. The seller and I both know, if I’d had access, it’d be extremely valuable. I’ve heard Steve and Jill mention that some people will prefer no access properties. Any advice on how to test this property for a reason or any advice on trying to get an easement? Thanks.” You want to go?
Steven Butala:
This is what separates the men from the boys, so to speak, in this business. You got to send a bunch of mail out. You got that down. Price it right, got that down. It looks like that to me. You get a bunch of properties back. Should I buy it or not? I run through my checklist, Jill’s little due diligence checklist. Houses or land or anything else, you got a little checklist. Whether you’re flying a plane, little checklist. You check them all off, and you get to that one thing. While this property is awesome, it checks every single one of my boxes except this one thing. It doesn’t have access. Should I buy it or not? And my answer always is this. I answer it myself by asking myself one or two questions.
Steven Butala:
Number one, I’m going to buy it for $5,800. If I listed for 10 grand right now, can a sell fast, even with its flaws? Or number two, is it worth it for me to fix this flaw so then I can sell it because I know it’s worth 50 grand with access. Or maybe access is in there somewhere, you just can’t see it. You just overlooked something. So it becomes an if/then statement. Okay. What do I need to go do to find out if there’s access. I’ll order an info report. Will that do it? A simple conversation with the planning and zoning, will that solve it for me? If I look at a platte map, is it obvious that this property has access? Do I even care that it doesn’t have access because it’s got water access anyway with the year-round river, and so I can sell it under the guise of, “Water access only. Build your dream cabin. No one will ever bother you again.”
Steven Butala:
So the way that this question is written, and what he’s saying is, please take the mystery out of it for me. What he’s saying is, tell me what to do. Is it okay? And the answer is, it’s okay for certain people. And that’s what makes this so incredibly profitable. I would probably buy this and I’ll tell you why. Because we have a lot of experience buying property on a river with no access otherwise. Doing great. People love water-only access property if it’s, in fact, year-round water and a bunch of other things. So that’s probably not the answer that most people want. Most people want mom and dad here, me and Jill, to say, “It’s okay. It’s going to be okay. Go ahead and buy it.”
Jill DeWit:
Do you want me to give you my answer?
Steven Butala:
Yes, please.
Jill DeWit:
Mine’s very similar to yours. It’s, is it worth it to me? Like you just said. Yeah. If it’s $5,800, and like you said, if I could get access, it’s $50,000, okay, I’m going to look at that but not for a week because now it’s not worth it. But I might make two or three phone calls, spend an afternoon on it and really find out what’s involved and if it’s even possible and then I’ll make a decision. So say I do that and I find out it’s not possible. Now I stand back and look at it and go, “All right. Really, buy it for 5,800. is it worth 20?” Like you said, so I could sell it for 10 fast. Will that even do it? Are people buying things like this around there? Do a little more work. And then if that comes back, if I any hesitation at all, I’m not buying it.
Steven Butala:
Me too.
Jill DeWit:
I’m not buying it.
Steven Butala:
We’re really on the same page.
Jill DeWit:
Not worth it-
Steven Butala:
Most of the time.
Jill DeWit:
… because I don’t want to spend $5,800 and maybe sell it for eight or nine. What if I did it wrong, right? Sell for eight or nine and it’d sit in my inventory for six months. I’m not going to feel good about making a flipping $3,000. I’m going to be like, “That’s dumb. I tied up $6,000 for …” And the stress, because you know what happens? It’s not even about the money. It’s the energy that you have to go through for posting the property and keeping up with the property and marketing the property, making sure it’s in this group and that group for this little property. You’re like, “Darn it. I should have never bought this.” You don’t want to do that.
Jill DeWit:
And you will quickly in this business, really quickly if you do things right, you’re going to get to a point where your time is so valuable, right, that you’re only doing deals that make X amount of money. And many of us, $10,000, anything less than $10,000 and we won’t bother. And I know for a lot of people that are like, “Wow, I do this stuff for 2,000.” Hold on. Once you get going and see what’s out there, you won’t do deals for less than 10,000 because you’d rather do those other deals.
Steven Butala:
Or 80. I mean, and even at that, it’s like I know I’m going to make 80,000 bucks on this, I know it’s going to take me 35 days to do it, ish, and I don’t have to do a damn thing. It’s a piece of land. All I have to do is just get it listed with this guy over here and he’s going to send me a check.
Jill DeWit:
Exactly.
Steven Butala:
See, that’s the goal at the end and end. So that leads us to today’s topic. Does the topic of X, let’s just say the thing we just talked about, attract you or repel you? This is the meat of the show. I love this stuff.
Jill DeWit:
I’m going to ask you … we should ask each other list of things.
Steven Butala:
Hold on a second.
Jill DeWit:
Okay.
Steven Butala:
What Mike’s question was here, that whole discussion that we just had and solving it, Jill and I, do you see yourself sitting here and doing that? When you get a mailer back, does it repel you or attract you? Do you see it as a challenge and an interesting thing to talk about with your spouse and a way to make $30,000 to $80,000 this month? Does that really, really interest you or are you sitting there saying to yourself, “Forget it. Are you kidding me? There’s no way I would sit around for 10 minutes with my spouse and talk about some property that doesn’t have access. Who cares about property anyway, by the way? It’s vacant land. I don’t care about land.” A lot of people that are listening to this feel that way. They just, it hasn’t come out yet. So this is Friday and these are philosophical shows.
Jill DeWit:
We’re going to bring some stuff out, apparently
Steven Butala:
I can absolutely understand and identify with the fact that this would repel you. You know what repels me? Being in an hospital emergency room for any reason. I don’t have a long list of stuff that repels me.
Jill DeWit:
I want to play this game.
Steven Butala:
Go for it.
Jill DeWit:
Okay. I want to ask you … okay. So what are my choices again? Attract or repel, or you could say plus, minus, whatever you like. Buying property?
Steven Butala:
Attract.
Jill DeWit:
Posting property.
Steven Butala:
I’ll do it. I’ll get to it.
Jill DeWit:
Come on. You just said it, repel. Let’s call a spade a spade.
Steven Butala:
It repels me.
Jill DeWit:
Thank you. Answering the phone?
Steven Butala:
Repels me. That repels me, repels me.
Jill DeWit:
Posting, making graphics for property to display in social media?
Steven Butala:
That attracts me. I like doing the graphics part.
Jill DeWit:
All right. Shoe shopping?
Steven Butala:
Repels me, times four.
Jill DeWit:
Boat shopping?
Steven Butala:
That attracts me. Although, right now, I’m mad at my boat.
Jill DeWit:
I know. I’m sorry. Cabin shopping?
Steven Butala:
That attracts me.
Jill DeWit:
Let’s see. Taxes?
Steven Butala:
Repels me.
Jill DeWit:
Checking email?
Steven Butala:
Repels me.
Jill DeWit:
Managing employees?
Steven Butala:
Repels me.
Jill DeWit:
Checking your bank account?
Steven Butala:
Attracts me.
Jill DeWit:
Okay. That was good. Do you want to ask me some?
Steven Butala:
Yeah.
Jill DeWit:
Okay.
Steven Butala:
It’s going to be a little bit more brainy.
Jill DeWit:
Okay.
Steven Butala:
Physics?
Jill DeWit:
Attracts me.
Steven Butala:
That’s what I thought you were going to say. Sports cars?
Jill DeWit:
Attracts me.
Steven Butala:
Days off?
Jill DeWit:
Attracts me.
Steven Butala:
Flying to Japan?
Jill DeWit:
Attracts me. Wow, you got this one.
Steven Butala:
Paying bills?
Jill DeWit:
Repels me.
Steven Butala:
Directing employees?
Jill DeWit:
Repels me.
Steven Butala:
Answering the phone?
Jill DeWit:
Attracts me.
Steven Butala:
Negotiating a real estate deal?
Jill DeWit:
Attracts me.
Steven Butala:
Compiling data to do a real estate mailer?
Jill DeWit:
Repels me.
Steven Butala:
Does it repel you or are you just saying?
Jill DeWit:
No. It just, it doesn’t … you know what? I’m not as good at it as you.
Steven Butala:
The feeling that you get after the maids had been at your house for a whole day and you’ve been working for 12 hours?
Jill DeWit:
Clean sheets.
Steven Butala:
Yeah, all that. How’s that? Does that repel you?
Jill DeWit:
Attracts me because I didn’t do it.
Steven Butala:
You know what repels me? A manicure/pedicure. It repels me.
Jill DeWit:
It repels you?
Steven Butala:
Yeah. I hate it.
Jill DeWit:
I think I might go do one tomorrow.
Steven Butala:
And getting a massage, that’s for the birds. I don’t get it.
Jill DeWit:
I love it.
Steven Butala:
Sitting on the table waiting. I look at my watch anytime that stuff happens.
Jill DeWit:
Love it.
Steven Butala:
You know what repels me? Golf. I look at my watch the whole time I’ve been forced to play golf, which hasn’t been in a decade at least.
Jill DeWit:
That’s really sad. All right. Riding your bike to Santa Monica?
Steven Butala:
I love that stuff. That absolutely attracts me. I would do it right now.
Jill DeWit:
Clothes shopping?
Steven Butala:
That repels me.
Jill DeWit:
I know.
Steven Butala:
There’s no reason to go do shopping anymore, just order stuff online and have them bring it.
Jill DeWit:
I know. Making pasta?
Steven Butala:
Attracts me, cooking of all time.
Jill DeWit:
Coaching kids’ sports?
Steven Butala:
I’m right in the middle on that.
Jill DeWit:
Well, that’s interesting.
Steven Butala:
You know what? Earlier in my life, when the kids were little, I loved it. I love it. I love teaching. But then they get a little older and it’s no.
Jill DeWit:
Opening up new audio visual equipment?
Steven Butala:
Like out of the box, unboxing?
Jill DeWit:
Yes.
Steven Butala:
That repels me right now.
Jill DeWit:
Really?
Steven Butala:
Yeah. I’ve never really … that’s not … I’m past that. I used to love it.
Jill DeWit:
Building new websites?
Steven Butala:
Repels me. Collecting the money at the end of the month for a good website attracts me.
Jill DeWit:
Okay. I love it. Are we talking about what we’re supposed to be talking about here?
Steven Butala:
Yeah.
Jill DeWit:
Okay, good. Just making sure.
Steven Butala:
So here’s the point. I mean, I hope for 10 minutes now we’ve been making our point. So probably to the point of overkill, there’s some stuff you have to put up with earlier in your career and earlier in your life that you have to put up with just to get through it to the point where you need to do it. So if answering the phone really repels you like it does with me, look, I spent 25 years answering the phone so I could get somebody, either hire somebody, outsource somebody or get a partner that actually enjoys it.
Steven Butala:
So I’m not saying if you don’t like it, don’t do it. That’s crazy. Nothing would ever get done in the whole world. There’s some components of things that you have to accept temporarily if you believe in the big picture. But in general, it has to really attract you. I’ve talked to these people over the years that have no interest in any way of having anything else other than a good paying, consistent job. They would never think of taking it. They don’t even look at it and consider starting something on the side for money to eventually replace their job.
Steven Butala:
I’m very confident if you’re watching or listening to this, you’re not one of those people. And so, to ask them anything, like, “Hey, would you like to do a side business?” repels me. It repels me to even take … they wouldn’t even call it a risk. They would just say, “There’s no chance I want to do that at all. Why? I’m happy. I have this job right here. I get to talk to people.”
Jill DeWit:
You’ve tapped into something a minute ago that talked about doing something for a period of time to get you to that point. And that tied into what we told. You said something about Bill Gates the day, and that’s true. You and I’ve done a version of that. We have put our heads down pretty much and not had much lives, much social lives for a while to get things to where they need to be. So things may repel you, but there’s a reason for it. And there’s some things that still repel you that you can never get over. And I wrote down one. There’s one thing, I don’t care how much money you have, I have yet to figure out a solution, and it’s going to the stupid DMV. I don’t think anyone … I don’t think Bill Gates can sign a power of attorney and send his own photo in. I think they still want to see Bill Gates in there and get his own picture if he wants to drive his own car, which is really kind of silly.
Steven Butala:
I thought I conquered it last year with the AAA. And so I walked in there and they said, “We will do everything that’s license plate related for you, but not driver’s license related. You still got to go in there.”
Jill DeWit:
Exactly.
Steven Butala:
And you can’t power of attorney that because they got to take your picture.
Jill DeWit:
Exactly.
Steven Butala:
Maybe rich enough just to have a license ever, but I don’t think that’s safe.
Jill DeWit:
I know it’s good to have a license. Me, I don’t know. We do. Anyway, it’s funny. 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, we’re right next door on the House Academy Show.
Steven Butala:
Next week, join us on the Land Academy Show for another interesting episode. I think that was a good … I really think that you have to take a few steps back and forget about data and mailing and stuff once in a while and just say, “Look, am I having any fun here? Is this any fun at all? Do I even want to buy and sell real estate?” I’ve done that a few times. Do I even want to be married to this person? That kind of stuff.
Jill DeWit:
That comes up a little too much.
Steven Butala:
The Land Academy Show [crosstalk 00:14:52].
Jill DeWit:
You are not alone in your real estate ambition.
Steven Butala:
No?
Jill DeWit:
Yeah.
Steven Butala:
Okay. I guess I missed that.
Jill DeWit:
I was waiting for you to do that, then we can go into the after show and talk this stuff.
Steven Butala:
I’m sorry.
Jill DeWit:
That’s okay. Well, we’ll finish it up. It’s no big deal. The Land Academy Show remains commercial-free for you, our loyal listener. So wherever you’re watching or wherever you’re listening, please subscribe and rate us there. We are Steve and Jill.
Steven Butala:
We are Steve and Jill. Information-
Jill DeWit:
And inspiration-
Steven Butala:
To buy undervalued property.

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