Real Estate Data Dash Board for Land Investment (LA 1358)
Real Estate Data Dash Board for Land Investment (LA 1358)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill DeWit:
Hi.
Steven Jack 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 extraordinary, beautiful Park City, Utah.
Steven Jack Butala:
Today, Jill and I talk about the real estate dashboard for land investment that I’m developing. 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:
You’re just excited to get right to the show.
Steven Jack Butala:
Yeah. I am, actually.
Jill DeWit:
You just jumped right in. You’re like, we’re just going to get to it. Okay. I’ll get there. All right. So it looks like I have a question. And then I have, one response? Or do I have more than one response?
Steven Jack Butala:
Just one response, and then-
Jill DeWit:
Okay, cool.
Steven Jack Butala:
I wouldn’t put it in there if it wasn’t super pertinent.
Jill DeWit:
All right. I trust you with everything.
Steven Jack Butala:
Wow. That’s good to know.
Jill DeWit:
And Jesse wrote-
Steven Jack Butala:
I don’t believe you, but it’s good to know. It’s good to hear, at least in front of the camera.
Jill DeWit:
That’s good. I was kind of being sarcastic. You took it seriously. I’m going to let you run with it. All right. Jesse wrote, in Land Academy. 1.0, video number three, thank you, Jesse. This is so cool. There’s an explanation of equity planner. Love it. However, there are holes in explaining the spreadsheet and where to find the data in Redfin. The columns do not match up with realtor.com either. Has there been an update to this video? Because I’m a beginner, I’m trying to get my first mailer out and I’m stuck in a major way.
Well, Dear Joseph wrote, Hello, Jesse. Not sure if you’ve already figured this out. I was having the same issue recently. The video was filmed in January, 2019. I found that there were several additional columns in that data, in realtor data in its current form. If you erase the medium listing per square foot, total, YY/MM columns and the median square foot total, year over year, month over month.
Those are those. What that is. It will match up with a spreadsheet. Also, there are two additional columns in the equity spreadsheet that are not on the realtor.com spreadsheet, the Nielsen rank, and footnote that you will need to erase before the numbers match up. Thank you, Joseph. This is kind of like our question the other day too. Could you imagine, I’m trying to think, I mean, think of college and high school, any textbook, you can’t, you couldn’t think of a textbook written about the earth and all of the global warming changes that are happening, right? I’m sorry. Am I stepping on your toes?
Steven Jack Butala:
We live in this world right now, this YouTube like world where if you do not know how to change a light bulb and you go onto YouTube, there will be videos for you to choose from on how to change the light bulb, how to change the 30 watt light bulb, 60 watt light bulb, how to change a incandescent lamp, how to change a headlamp on a Lexus, and the year of the Lexus. And it gives you step-by-step instructions. And so we, but that’s not learning anything. That’s just repeating what somebody else has did, and getting it done. If you ever went to high school or college and you learned math back then, or anything else it’s changed since you’ve learned it.
Jill DeWit:
That’s what I was trying to say.
Steven Jack Butala:
So this has become a real topic for my staff. And I’m trying to drive this point home. This is not, this business that we’re in is incredibly profitable. Jill and I live in a mansion on the beach in California because of this because of buying and selling land. And it didn’t happen because I looked up a few of YouTube videos or signed up for a place that something like this, like land Academy and just copied what somebody did on a video. That’s a year old. It happened because I am never, ever satisfied with the tools that we are using and the outcomes that they are. And I’m constantly improving. And I’m constantly looking at data in different ways and I’m into it. It’s my thing. And the people that are in the advanced group in Land Academy teach me stuff constantly because they’re into it. A lot of them make more money than we do. So I made my point.
Jill DeWit:
I think it’s about knowing and understanding the concepts, not the A to B to C to see because it does change and it does evolve.
Steven Jack Butala:
For the better too.
Jill DeWit:
It does get easier and better every time.
Steven Jack Butala:
Yeah.
Jill DeWit:
That’s very true.
Steven Jack Butala:
Today’s topic along these lines, real estate dashboard for land investment. This is the meat of the show. As I was saying yesterday, the stock market’s evolved through a point where you can create a dashboard for yourself. Look at the stocks that you only want to look at, or you can develop a dashboard or all kinds of tools online to choose stocks for you and everything in between. There’s a tremendous amount of data. Real estate is getting to that point and there’s companies that are actually approaching us saying, “Hey, are you aware of the fact that you can, there’s 150 million properties in the universe of properties in this country. Are you aware of the fact that we can take a look at, for example, what every single property that you’re interested in, in any County that doesn’t have any improvements on it let’s say is selling for and what they’ve sold for in the past 12 months and what the variance is.
And very quickly write a little, some script or a model to find, or show you where to send mail.” And so th there’s almost infinite possibilities, the way that there are with stocks and looking at that to develop a tool, to make our lives incredibly easy, and to look at this data the same kind of the same way you do in the stock market. That makes sense to you. So, and I’m in, we’re heavily into talks with developing a tool that Jill and I will test out for ourselves for a while and ultimately make available when it’s passed all of our tests, make it available to you, the potential Land Academy member, or however we roll it out. I’m not sure. What it won’t be is what the question was all about. It will not be press this button and make $100,000 a year.
Jill DeWit:
Easy button.
Steven Jack Butala:
Yeah.
Jill DeWit:
There’s no easy button.
Steven Jack Butala:
No, not for stocks either.
Jill DeWit:
That’s funny. It makes me think of, we were on our drive out here to Park City. We were listening to all kinds of different things in the car. And we were focusing on a person in particular and he was sharing in his world.
Steven Jack Butala:
[inaudible 00:06:47]
Jill DeWit:
Yep. How he just made it a point to do what we do, which is the same thing, which is be an expert in your field. And that means you never stop learning. You’re never going to say “I’m done. I got it all. Stand back everybody.” And it’s not going to change. It’s not possible.
Steven Jack Butala:
He said very specifically said, you can buy a company, you can sell a company, you can build a company. You can fail at a company. What you’re doing is learning. And eventually if you keep at it, you will, in 10 or 15 years become an expert in that industry, whatever it is and become the go-to guy. That similar to the way that Jill and I are, the go-to people for buying and selling land online, rural vacant land specifically. So, man, I can’t describe how many failures I’ve had. I couldn’t, there wouldn’t be enough time in an hour to talk about. And a lot of them with Jill that, but what every single one we learned, if not anything else, what not to do with the next one. So I can tell you this real estate dashboard, it’s going to be amazing. It’s going to give us information that I never dreamt would even be possible.
Jill DeWit:
It’s amazing. What’s out there now. And how fast it feels. You know what it feels like? It’s like it’s going, it keeps getting faster and faster and faster. Like things would be, you could do equations twice as fast and then four times as fast and 16 times as fast, it’s just exponentially a hockey pucking up what we can do. And what’s possible.
Steven Jack Butala:
It’s only limited to how you use it. So, and it, if you let’s say you buy and sell land in Texas, or you want to buy and sell land in Texas, and you’re interested in which counties sell the most property in which County settled least amount of property or for the highest price per acre during the least amount price per acre or whatever makes most waterfront property, whatever makes sense to you. It’s almost literally infinite in the way that you can analyze it and make predictions or make decisions based on where you buy and sell.
Jill DeWit:
Exactly.
Steven Jack Butala:
But it’s not an easy button. It would be like saying, “Hey, there’s only one dashboard for the stock market. This is it. Everyone’s using the same, all this volume of stocks that happened every day. They’re all using the same dashboard. So they all went to this one stock and bought it.”
That’s just.
Jill DeWit:
That’s a good point.
Steven Jack Butala:
I’m sorry that your columns didn’t line up the way that the education said that it did and using the dashboard that said, I don’t, I’m not going to use it.
Jill DeWit:
That’s very true.
Steven Jack Butala:
The person who’s going to make a jillion dollars using a stock dashboard is the person who builds the components to that dashboard. That makes sense to them.
Jill DeWit:
Correct.
Steven Jack Butala:
And they already get the concepts.
Jill DeWit:
Correct.
Steven Jack Butala:
They already understand why it’s important for and fill in the blank. And they see things that other people don’t see. And that’s a real, that’ll never go away.
Jill DeWit:
Exactly.
Happy. You could join us today. Monday through Friday, you can find us right here on the Land Academy Show.
Steven Jack Butala:
Your comments and suggestions, help us to create the type of content you’re here for, hitting the like button on your favorite episode helps support our channels, algorithm, and gauge our future interests. Did I miss it?
Jill DeWit:
Yeah, you did, but that’s okay. And by the way, join us next week on Monday for another exciting episode.
Steven Jack Butala:
I got all excited about the dashboard.
Jill DeWit:
Oh, you did. Let’s just go to the end. We’re Steve and Jill.
Steven Jack Butala:
Information.
Jill DeWit:
And inspiration.
Steven Jack Butala:
To buy undervalued property.
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