Episode 1500 of the Land Academy Show (LA 1500)
Episode 1500 of the Land Academy Show (LA 1500)
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:
Jill Dewitt, broadcasting from sunny Scottsdale Arizona.
Steven Butala:
Today it’s episode 1500 of the Land Academy show, and I am absolutely floored.
Jill DeWit:
I know.
Steven Butala:
That you, the listener still listens to this.
Jill DeWit:
There’s marriages that have not lasted this long.
Steven Butala:
Well, there’s a lot.
Jill DeWit:
Exactly, especially during COVID. Exactly.
Steven Butala:
So we’ve decided we’re going to kind of reflect on Land Academy and its members and what this group is all about. And the truth is, Jill and I have not talked about what this episode is going to be about at all. So-
Jill DeWit:
[crosstalk 00:00:43] I have some funny things.
Steven Butala:
… I’m just interested or uninterested as you are.
Jill DeWit:
Ha, yeah. Thanks.
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. And if you’re already a member, please join us on Discord to get your, all your questions answered in real time.
Jill DeWit:
To put your minute-by-minute land fix.
Steven Butala:
Or just lurk.
Jill DeWit:
Oh my gosh. It’s … Let me warn you. It’s nonstop. All I hear on his desk is ping, ping, ping all, and all day and all night.
Steven Butala:
It’s the tool, the membership tool that I’ve been waiting for for six years. That’s the truth of it.
Jill DeWit:
It’s Jack’s Clubhouse. Let’s just call it. There you go.
Steven Butala:
You can get your answer. I don’t care what you need, put it in Discord.
Jill DeWit:
Okay. Jeff wrote, “Hey guys, I’m buying a property through title and a survey is needed. There’s also an heirship issue that the seller needs to work out. Do you do anything to protect against spending all that survey money and then having the seller disappear to fix their heirship problem?” Nope. You know what? I had to do this.
Steven Butala:
You would never get a survey before this heirship problem solved.
Jill DeWit:
Well, hold please.
Steven Butala:
There’s two-
Jill DeWit:
I’ve had to do this.
Steven Butala:
Yeah, I understand.
Jill DeWit:
Okay.
Steven Butala:
I’m not saying don’t get a survey. I’m saying do not even start down the survey path. And so this is one of the five A’s during due diligence. You need to make sure everybody’s alive and the person who’s signing on the deed is going to convey and all that. So there’s an order in which this goes and it’s an education and you need to make sure you can close the deal and people are alive and available to sign. And the chain of title is correct long before you start ordering surveys.
Jill DeWit:
That’s correct. As I read it, I was thinking as I’m selling it, not as I’m buying. So yeah, no, you’re right. Don’t put any money into somebody else’s property that they could go away, number one. But on the flip side, what I was starting to say, which I’ve had to do is there’s properties that require documents in certain counties for certain green belt zones that every time it changes hands, you have to do stuff like that. I’ve done that. I’ve had to get things ready for when I sell it, knowing I’m going to sell it. And I don’t wait for the buyer to come up, and then I start the process. I just got it out of the way because it was like a requirement. That’s okay.
Steven Butala:
I don’t want you to be afraid of things like this.
Jill DeWit:
Oh, yeah.
Steven Butala:
Especially if you’re new, not all deals are like this. Most deals go really well. Really, they’re very smooth, but people ask questions when there’s issues. People don’t ask this question, “Why is it so easy?”
Jill DeWit:
Yeah.
Steven Butala:
It just never comes up.
Jill DeWit:
And this is usually needed. Most of the time, in this situation, with Jeff’s situation, I’m going to guess that the surveys needed because there’s something with the legal description when it was divided, it wasn’t properly spelled out. So that’s often just to make it really clear on the details of the property.
Steven Butala:
This is very new, this requirement for a survey.
Jill DeWit:
Not very often.
Steven Butala:
So Jill and I have done almost 16,000 deals.
Jill DeWit:
Right.
Steven Butala:
I think I’ve done one, and it’s recent with Jill, where a survey was required to actually buy it. And so I very seriously questioned that. I mean, I question everything and you should too, but I questioned why that is. And here’s why in that case, it was because there’s a lender. They’re not buying it with cash. It’s a lender or some assessor or municipalities got a thing up their butt about everyone needs a survey now.
Jill DeWit:
There could be some issue.
Steven Butala:
So it’s not normal.
Jill DeWit:
Right. It’s not that often.
Steven Butala:
And so this is a huge red flag for me, and you have to ask yourself, “Okay, it’s got an heirship problem, and I need a survey. Maybe I don’t [crosstalk 00:04:35] want to do this deal.”
Jill DeWit:
Call me when you guys are done.
Steven Butala:
Yeah.
Jill DeWit:
I agree.
Steven Butala:
Today’s topic episode 15 of the Land Academy Show. This is the meat of the show. What does this mean to you, Jill?
Jill DeWit:
I was trying to think of some … I came up with three podcast related situations/moments that were funny to me and interesting to me. The first thing I wanted to share was remember in the beginning, one of the reasons I’m here, and still here today, is because we had this guest, that Steven often would get these guests and they would A, not show or B, there was one in particular that did not understand the PG rating. Could not get it through his head. Remember that?
Steven Butala:
Yeah.
Jill DeWit:
I think you recorded two shows with this guy.
Steven Butala:
Yep.
Jill DeWit:
And he … I can remember his job was in real estate, but he had a different … Was he? Anyway, and he’s a funny guy.
Steven Butala:
Yeah.
Jill DeWit:
He was like Raymond, whatever. He was like that kind of a-
Steven Butala:
Ray Romano.
Jill DeWit:
Ray Romano. Kind like a Ray Romano type character, but he could not calm himself down and get him into PG rating. And I remember you said, “This is never going to to … I just can’t use these shows.”
Steven Butala:
[crosstalk 00:05:53] I couldn’t air it.
Jill DeWit:
I’m like, “It’s not going to work. I can’t bleep the whole thing. That’s going to work.” So that’s one of the reasons that I came on here, and I was just thinking about. So thanks to him, you’re stuck with me. The second thing I thought that was really funny was I remember back in the day, so if you’ve been listening to us for all years, like many of you have, you might remember trash dump Thursday because there was … We would always record on our Thursdays and we, for a brief period, we relocated to Southern California. We had this sweet little apartment, and it was the same day, we recorded same day as trash day. And boy, was it loud! And I’m sure a lot of you heard that beep, beep, beep, [inaudible 00:06:38], the noise in the background. It was a funniest thing. It would distract me and you’re like, “Oh, they don’t have it,” but I think it showed up. It was kind of funny. So I’d love to know if you guys really heard that.
Jill DeWit:
And then my third thing I thought was kind of interesting. I’m thinking about is all the, I wonder how much … I have to go back and look. Our background changes. Hair’s changed.
Steven Butala:
Oh, I’m sure.
Jill DeWit:
We’ve had a lot of physical changes.
Steven Butala:
I’m sure there’s a lot of changes.
Jill DeWit:
Weight changes.
Steven Butala:
Yeah.
Jill DeWit:
So thank you, too, for you who have hung in there with us through show 1500. I remember, too, when we first started people would go say, “I just took a road trip and I went back and listened to all of them.” It’s pretty hard to do that now.
Steven Butala:
Yeah.
Jill DeWit:
You [inaudible 00:07:25] be … it would take you a while to go back to listen to all of them. They’re all up there. You can find them, but wow.
Steven Butala:
On one of the Thursday calls recently, we have a membership Thursday webinar that goes for a couple hours and one of our relatively new members, her name’s Christine, said this, “Do you guys ever just” … This is all between us answering questions and “Hey, should I do this deal?” And so she says this in the middle of all that regular Thursday call stuff, “Do you guys ever just sit back and kind of think about how many millionaires you’ve created and how many people have quit their jobs and kind of pat yourself on your back and kick your feet up and crack open a beer and smile about and look positively on yourself?” To which I said, “Never.” Never have I ever felt satisfied and reflective about Land Academy. What I do is wake up in the morning and try to make it better. And I will never sit in an inner tube in a pool and say this, “I’m done. My job’s done here.”
Steven Butala:
So that’s why I really think Land Academy is successful. But the truth is, one third of the people that have ever joined Land Academy quit their jobs or their spouses quit their jobs. So that’s just staggering to me.
Jill DeWit:
Yeah.
Steven Butala:
And so this show is the gateway to all of that success, or we wouldn’t do it. This takes a lot. It’s a lot of work to do the show.
Jill DeWit:
There’s a lot of people listening right now that have never joined Land Academy that have learned exactly how to do this, you know who you are, and are doing it successfully.
Steven Butala:
And that makes me feel great.
Jill DeWit:
That’s great. That’s why we’re here.
Steven Butala:
Right? So that’s what episode 1500 is for me. It’s a milestone, but it’s also the beginning of new stuff.
Jill DeWit:
What’s going to be like on show 3000? Where are we going to be on the show 3000?
Steven Butala:
Well, I can tell you, with confidence, at show 3000, which I’m sure will happen. I don’t know when, but it will eventually, there’ll be better data and better ways to do this.
Jill DeWit:
Oh, yeah!
Steven Butala:
There will be a more easier way to identify real estate markets. And we will have more partners, more funding partners, more managers, and it’ll be bigger and better than it is now, and more efficient, because think about show number zero, with the data that we had that was available.
Jill DeWit:
Right.
Steven Butala:
I’m not sure that Zillow even existed or if it did, it was not what it is now.
Jill DeWit:
Uh-uh (negative). Back then, there were still some days that I couldn’t find a property.
Steven Butala:
Right.
Jill DeWit:
I have to come to you and go, “I just can’t find this. I need your help. I’m lost.” I usually, I would spend hours before I came to you because I’m not going to come to you after five minutes. I’m going to really try to dig in and find a property. And usually, it was a old school, meets some Browns. I had to work it backwards. [crosstalk 00:10:22] And even then I couldn’t figure it out.
Steven Butala:
Through a plat man.
Jill DeWit:
Or, it’s funny. You know, now we don’t have to worry about it. It’s amazing. People always say, “Oh, I’m too late to join. This is not the right time.” I’m like, “Are you kidding me? It’s the best time,” because as more time goes on, we have better tools, like you just said. It gets easier and faster. I mean, now money? Solved. Finding properties? Solved. Great data? Solved. How to figure out pricing? Solved. Thanks to you.
Steven Butala:
Keep going.
Jill DeWit:
An awesome community?
Steven Butala:
[crosstalk 00:10:52] Relationship management?
Jill DeWit:
Solved. How to talk to everybody, yeah, and build the right relationships and create partnerships? Solved. Every level of education I could possibly want, including really in-depth with you guys? Solved.
Steven Butala:
Here’s what’s not solved, she’s right: the issues that come up in life that stop you from getting rich or being successful, however, you define that, and we’re solving that.
Jill DeWit:
That’s coming soon.
Steven Butala:
We are in the process of recording and writing The Showing Up for Life by Jack and Jill. It’s a separate show to deal with your life and all of that.
Jill DeWit:
You’re right, because yeah. That’s true. You know it to. When you don’t do something, it’s not because of it, it’s usually because of you.
Steven Butala:
Yeah, it’s because you taught yourself to procrastinate or-
Jill DeWit:
[crosstalk 00:11:42] You’re not into it.
Steven Butala:
… your wife doesn’t believe in it, or yeah.
Jill DeWit:
Or you don’t believe in it.
Steven Butala:
Yeah. So it’s a show about that. It’s not about real estate. It’s about the other stuff in life that stops you from fill in the blank.
Jill DeWit:
I wish I knew what the numbers were, but I bet most people … I bet the majority of people who get involved in groups and join things and they don’t act on them, it’s never one. It’s usually this is just number six. So you have to look at yourself and go, “Oh, what’s the common denominator here?”
Steven Butala:
Yeah.
Jill DeWit:
“Maybe it’s me.”
Steven Butala:
It’s me!
Jill DeWit:
Yeah, because I thought that program sucked for this. And I thought that gym or the, let’s just even say that diet didn’t work for me. Really?
Steven Butala:
That’s pretty ballsy for you to say that, Jill.
Jill DeWit:
I’m sorry.
Steven Butala:
No, I like it. I think it’s great.
Jill DeWit:
I’m sorry.
Steven Butala:
You don’t hear that sentence out of too many women’s mouths, “That diet didn’t work for me.”
Jill DeWit:
It usually works if you do a couple things.
Steven Butala:
Like put the cheeseburger down.
Jill DeWit:
That’s it. That’s what I was going to say. I still love this line. I know it’s old. My mom always says is. “If it tastes good, spit it out.” That’s her diet.
Steven Butala:
That’s outstanding.
Jill DeWit:
So yeah, I clearly don’t fall on that one. But, oh boy. Hey, it’s been good 1500 episodes with you.
Steven Butala:
Tomorrow, 1501.
Jill DeWit:
Oh, yay! So happy you could join us today, by the way. Five days a week. Yes, still five days a week. Monday through Friday. Used to be seven. Now it’s five, but you could find this right here on the Land Academy Show.
Steven Butala:
Tomorrow on the episode of the Land Academy Show, which is episode 1501, real estate investing in the year 2021. You are not alone in your real estate ambition.
Jill DeWit:
Do you remember when the kids, when I say the kids, I mean our staff, it was so cute, they sent us … They’re kind of over it now. They sent us gifts. They sent us a plaque and thing for show 500. And then we got that … Was it the cool decanter? That might’ve been it for show 1000. They’ve done little things and a cake and things for us. Now 1500, like, “Yeah, we’re over it. Sorry guys.”
Steven Butala:
No, it’s 1500. Well, I guess this means more work for me.
Jill DeWit:
Exactly.
Steven Butala:
Which would be my reaction too.
Jill DeWit:
Yep. It’s all like, “Yeah, we all know. It’s fine.” Will we ever … If we ever go off the air, we’ll have to have some blowout celebration, like Cheers level or MASH level when it’s the end.
Steven Butala:
Yep.
Jill DeWit:
Yeah. So, and it’s not for anytime soon, I promise. If you’re interested in learning more about us or what we do, check out landacademy.com and houseacademy.com. We provide the education, tools, and support you need to be flipping property like the pros.
Steven Butala:
We are Steve and Jill.
Jill DeWit:
We are Steve and Jill.
Steven Butala:
Information-
Jill DeWit:
And inspiration-
Steven Butala:
To buy undervalued property.
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