Jill Friday – How You Know You are Good at Something (LA 1621)

Jill Friday – How You Know You are Good at Something (LA 1621)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Happy Friday.

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 the valley of the sun.

Steven Jack Butala:
Today Jill and I talk… Well, it’s Jill Friday, and she’s going to talk about how you know you’re good at something.

Jill DeWit:
Do you know what you’re good at?

Steven Jack Butala:
Yeah, I’m probably a unhealthy level of confidence in about two or three things in life. And then everything else is just like, “Wow. I need to improve on that.”

Jill DeWit:
Oh, come on. You’re good at more than you think, and I actually have a couple of things here. This is not going to be all like, “Oh, this is great. We’re going to hear them tell each other how great they are.” No, but I’m going to give some good examples of some things so you can figure out what you are good at.

Steven Jack Butala:
I have several questions. Please don’t answer now, but my biggest question on this is, do you think that… It’s nature/nurture, you know? How much actually can you change?

Jill DeWit:
We can talk about that.

Steven Jack 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 don’t forget to subscribe on the Land Academy YouTube channel, and comment on the shows you like.

Jill DeWit:
Buckley wrote. “Hi, all. Question on utilizing a checkout card processing feature on your land sell website. At what point should this be set up? My first mailer is just now getting out the door, so I don’t actually have any property to sell, but I’m trying to get ahead of the stumbling blocks later. I know Land Academy has the Heartland payment systems set up for Land Academy members. Thought someone implement this, and the ease of use. I’m totally new at it all and trying to learn. Thanks.”

Jill DeWit:
I love this. This is so funny. Do you want me to just jump right into one of our answers? So one of our members, he goes by Old Steve, put a comment in here. We’re going to read his answer to this question.

Steven Jack Butala:
To which my response is, I’m Older Steve.

Jill DeWit:
That’s right. Old, not Older, Steve wrote, “Specialization is key. We buy 100 plus installment contracts a month in another vertical. Since we’re first and last a lending business, we have those issues managed. Because it’s what we do, I don’t sell land or buy land and take pictures of land to post for sale. I take payments and collect or repossess on past due accounts. I agree that there is only one way to do this, hold title…” Does this really apply to this? I’m confused.

Steven Jack Butala:
Can I read it?

Jill DeWit:
Yes, please. Go ahead. Because I’m not getting it.

Steven Jack Butala:
Old Steve says this, “Specialization is the key. We buy 100 plus installment contracts a month in another vertical. Since we’re first and last a lending business, we have those issues licked because it’s what we do. I don’t sell and buy land. I don’t take pictures, I don’t post land. I don’t mess with that. I take payments and collect or repossess on past due accounts.

Steven Jack Butala:
“I agree that there’s only one way do this. Hold title until paid in full, collect a decent down payment, so the buyer has something to lose. 40 years in the credit and collection business. All the noise is under the $5,000 deals. How about actually underwriting? Nobody seems to do that. Proof of sufficient income through bank verification.

Steven Jack Butala:
“We have a full online scoring model. 500 applications a month go through the machine. So sell on terms. I’ll buy all the risk that’s associated with that and discount it. Be a great land investor.” This is his advice. “Let somebody else be the collector.” Namely him. “Maybe a group Zoom on how to put these terms deals together?” Here’s his point.

Jill DeWit:
That was really confusing and seemed off topic.

Steven Jack Butala:
So not for me, and that’s why I put it in there. And maybe Jill Friday was not the best day to do this.

Jill DeWit:
Not really, no. You tell what you think how this should go, and I’m going to give my answer

Steven Jack Butala:
We are here, in this Land Academy group, to be good at one thing, locating and bringing under contract really valuable land deals. Deals that are undervalued. There are all kinds of other experts in this group, and that’s by design. That didn’t happen on accident. Jill and I have spent years trying to create content, this podcast is one of those places, where we appeal to incredibly intelligent, incredibly experienced and specialists in other areas.

Steven Jack Butala:
And Old Steve obviously is a specialist in collection, and terms and financing. He has no interest in buying and selling property. So the person that was asking this question is, “I’m going to put this whole thing together. I’m going to collect these payments.” I don’t think that’s applicable anymore. To directly answer your question about collecting payments on a land site. I wouldn’t do it. Go ahead.

Jill DeWit:
I didn’t read it that way at all.

Steven Jack Butala:
How’d you read it?

Jill DeWit:
I read it that, “Okay, I’m just getting started. Should I have a checkout, an easy-pay checkout button? Not for payments, just to get paid for property, and having that set up and a way to take payments.

Steven Jack Butala:
And I say, no.

Jill DeWit:
Well, so let me finish my thing. That’s nice.

Steven Jack Butala:
Well, it’s still Friday. I can’t do it [crosstalk 00:05:03]

Jill DeWit:
Yeah, it is. Do me a favor. Will you please sit on your hands?

Steven Jack Butala:
Yes, yes.

Jill DeWit:
So my point is, okay, I agree. Right out of the gate, you don’t need that. Like you don’t need an LLC. You don’t need pretty business cards. You don’t need an office. You don’t need a secretary. You don’t need all these special things as you’re just getting started and making sure this is right for you.

Jill DeWit:
So your first mailer’s about to hit. I want you to wing it. They might mail you a money order. They might wire you money. You might accept even a good old fashioned check. Obviously, wait until the check clears, get it all done. Then send out the deed. There’s lots of different ways that you can do this. Now you can Zelle money. You can PayPal money, not PayPal, but Zelle and… I can’t remember what the other one is.

Jill DeWit:
But anyway, there’s lots of different ways that you can get paid on a transaction without having this credit card processing system set up this point. Get some time under your belt, some deals under your belt, and then think about how you want to do this.

Jill DeWit:
I am assuming you’re going to be like me. You’re going to be accepting money for full payment on a transaction. And it’s nice to have that as a down payment thing, and then do the rest in escrow, depending on the size of your deals. There’s lots of ways that we can do this.

Jill DeWit:
This whole thing about taking payments and setting this up and all that stuff, that was kind of, no offense, noise to me, because that’s not what this is about right now. Don’t scare the person. I’m sorry, if I would’ve put that note in there and then read Steve’s response, I would have been like, “What the heck? What do I have to think about? Hold on everybody. I’m just trying to get paid on 10 deals and then make some different decisions.” And I’m going to leave it at that. You can talk now.

Steven Jack Butala:
Here’s what I got out of it. Just be great at locating deals.

Jill DeWit:
Wow. Yeah, don’t sweat the small stuff. That’s all that is right now. That was a bunch of small stuff. Don’t sweat it right now.

Steven Jack Butala:
That’s right.

Jill DeWit:
Don’t worry. Mm-hmm (affirmative).

Steven Jack Butala:
Today is Jill Friday, in case you haven’t noticed. She’s going to talk to us about how you know you’re good at something. This is the meat of the show.

Jill DeWit:
Now it’s my turn. I have one more thing to say about that. There is absolutely nothing wrong, and I highly encourage you to tell people, “This is new to me. I am just getting started as an investor.”

Steven Jack Butala:
That’s what Land Academy is for. She’s exactly right.

Jill DeWit:
“You know what? I am the owner of the company. So here’s the good news. This is new to me. I own the company. So whatever deal you and I reach, that’s a deal that’s going to happen. I might go about it clunky, or I might have to… Whatever. But we’re going to get this deal done.”

Steven Jack Butala:
To the seller she means.

Jill DeWit:
Or to the buyer.

Steven Jack Butala:
Yeah.

Jill DeWit:
To either one. Even to the buyer, because your buyer’s probably saying, “I love this. I want to buy it from you for $40,000. How do you want me to get the money to you?”

Jill DeWit:
And you’re like, “This is great. I don’t know, what’s convenient for you? Can we do a check? You want to wire it to me? I like wire because that’s the easiest and the fastest.” And the buyer says, “Sure, I don’t care. Let’s wire it.”

Steven Jack Butala:
Or better yet, just use escrow.

Jill DeWit:
Or depending on the…

Steven Jack Butala:
The further we get into this Land Academy journey here, which Jill and I started the Land Academy portion of this in 2015. The further, we are not doing collections at all.

Steven Jack Butala:
We’re not selling on terms, that’s not the new Land Academy way. And we don’t have payment processing websites anymore. Every deal that Jill and I do, buy for 20 or 30 and sell for 100, is through escrow.

Jill DeWit:
Right. So I’m not really needing it at this point. I’m really not. And then even if there’s an earnest money down payment, which you would do off your website, nowadays it’s going right to the escrow companies.

Steven Jack Butala:
That’s right.

Jill DeWit:
So back to what the show is about. Thank you for letting me finish that. I’m like, I just don’t want everybody to get all confused here.

Jill DeWit:
How do you know you’re really good at something? I was thinking about this a lot. There was a time in my life when I sat back, and I really looked around, and I realized I was really good at selling. There were hints of it growing up. People would say, “Wow, you don’t even realize you’re selling.”

Jill DeWit:
I’m like, “What are you talking about?” I didn’t even know what it meant. I was a little kid. And all I remember is my parents saying, “You don’t understand the word no. And you can find a way to get what you want.” But there was an actual little tweak there. And I’ll tell you about it here in a minute.

Jill DeWit:
But it came so easy to me. It was just natural. So how do you know you’re good at something? There’s something that you’re doing right now, you don’t even realize it, and you outshine everybody around you. And you like it.

Jill DeWit:
For example, for Jack it’s data. It’s numbers. It’s picking counties. And it’s again, it’s all around the data. He loves it. He sits there on the weekends with the laptop on his computer, on his lap, half-watching a movie with me. Not because, “Oh God, it’s painful. I have to do this again.” No, because he loves it so much he just has to do it.

Jill DeWit:
We get in the car, and it’s a joke, but it’s true. Who’s going to whip out their phone and start shouting out property values when we’re going through new areas? It’s just data for him. He needs this. He needs to see it, and feel it, and take it in, because it’s going to play into what he’s going to do later on that night. It’s just natural. That’s not for me.

Jill DeWit:
Now I have learned, so it talks about nature / nurture a little bit. I have learned, and picked up a lot of things, but I’ll never be as good as you. And I will never enjoy it like you do. It’s not my thing. So when you see though… Like you with data, with me, it’s talking on the phone and building relationships with people.

Jill DeWit:
And my favorite thing to do is to get… My number one goal in life, and this is what I’m good at, is whatever transaction, whatever I’m trying to get out of someone. Whether it’s a contractor coming to my house, or buying a property from a seller, my goal is to each get what we want out of it, and we both walk away feeling good.

Jill DeWit:
And that’s a whole ‘nother conversation about how I do that. And that’s actually in a thing I’m going to start teaching coming up here in a week, maybe. A couple of days.

Jill DeWit:
The point is, so you’re good at it. Nobody else gets it. You get around. And when you figure this out, you need to run with it. You have got to run with it. And like I said, mine’s relationships. What do you want to ask? Now is Q&A time.

Steven Jack Butala:
I just think it has to be innately interesting to you. And that I don’t think that that… That can develop over time, or it can improve over time, or kind of expand. But that’s always there.

Steven Jack Butala:
Data’s always been… I’ve always been a numbers person. I just have. Math has always been my strongest subject. If I had three or four classes for homework to do, I’d always do math first. And often not do anything else for any of the other classes. So it’s just how it is. And accounting came easy to me. I was a natural.

Jill DeWit:
But not for everybody.

Steven Jack Butala:
No, not at all. But enough about me, it’s just, if you really sit down with yourself and ask yourself, are you developing something that you’re interested in? We are all taught. I hope this is not the case anymore. I fear that it is.

Steven Jack Butala:
We are all taught that we were supposed to be good at everything. You go through high school, you’ve got eight classes or seven classes or whatever they are.

Jill DeWit:
Supposed to get As in all of them.

Steven Jack Butala:
Then you get A’s in everything.

Jill DeWit:
Yeah. You’re right.

Steven Jack Butala:
And you’re supposed to do it with a smile on your face and graduate with a great grade point average so you can get in great college, so you can go do the same thing. It’s silly.

Jill DeWit:
That is ridiculous.

Steven Jack Butala:
It’s ridiculous.

Jill DeWit:
Now that you really think about it, they should… You know what? I’m with you. I’m on team Jack here. Because I would argue that the guy that’s really good in math and physics and this, he should go to the STEM stuff.

Jill DeWit:
He sucks at writing. Who cares? We don’t need him for writing. He’s good at this stuff. Why does he have to have an A in writing too?

Steven Jack Butala:
Maybe you’re a great athlete and you’re just not into academics at all. That’s fine.

Jill DeWit:
Exactly. What if you’re really good with your hands? You can take apart any kind of machine, vehicle, do all the diesel… I mean, there’s…

Steven Jack Butala:
We all know kids who take apart the toaster when they’re four. That’s a pretty good sign that mechanical engineering or applied science that might be your thing.

Jill DeWit:
Or just be an aircraft mechanic or something like that. That would be great.

Steven Jack Butala:
Yeah.

Jill DeWit:
Those are valuable trades, and that person… And maybe they can’t read. Maybe they’re dyslexic.

Steven Jack Butala:
Totally, Jill.

Jill DeWit:
There could be other things. So what? Why do they have to have an A in everything? I think you’re right. I think that’s dumb. So that’s a whole ‘nother-

Steven Jack Butala:
Well, over time, and it’s already really starting to happen through technology and through the internet, you don’t necessarily have to adhere to those old school education type rules. I mean, just think about YouTube. You really don’t. I believe we’re probably at the tail end of this four-year university thing, or at least maybe in the sixth or seventh inning of it. It’s just so ineffective to go waste four years after high school on subjects that [crosstalk 00:14:39]

Jill DeWit:
[crosstalk 00:14:39] did.

Steven Jack Butala:
It’s just a money machine, is what it is. When there’s places like Land Academy, where you can… It’s a fraction of the cost and time, and you’re on your way to making a ton of money, if you find out it’s for you.

Jill DeWit:
Well, here’s the thing I was going to talk about. You just brought it into what we do every day. So, all right, this is a hard task, I think, for people. You really have to take a step back and will have to spend some time on this, and figure out what it is for you. What are you really good at? And what do you enjoy?

Jill DeWit:
Once you figure that out, then it’s even harder. This is truth time here. Personally speaking, it’s really hard for me to admit the areas that I suck at. Because I want to be good at everything, I really do. I want to have As.

Jill DeWit:
I was that kid. “Oh my God. I want to have all As.” I was president of the National Honor Society, by the way, when I was a senior in high school. Talk about a geek. But I wanted to be good at it all. But I wasn’t good at it all. I just, I worked extra hard, that’s what I did. I had to work extra hard at the things that I wasn’t good at.

Jill DeWit:
So now you take a step back, and you realize what you’re really good at. You’re moving forward in life, and in business. Now you need to find a person, and I mean personally and professionally, not just professionally. You’ve got to find a partner who picks up in the areas that you are weak. That, to me, is how you win in life.

Steven Jack Butala:
I agree. A, you never want to be the smartest guy in the room. Trust me on this.

Jill DeWit:
Or maybe at your one thing you do.

Steven Jack Butala:
Maybe at your one. But even then, I think that if you… If you’re the greatest drummer that ever was, you still need to take drum lessons.

Jill DeWit:
Well, you got to have a good singer. And a good guitarist. And a good everything [crosstalk 00:16:23]

Steven Jack Butala:
But you still need to improve on… I get so much out of these Thursday webinars that we have, because people will ask questions, or whatever will happen, they’ll be, “Would you do this deal?” And it’ll be about some small, weird section of Florida. And I will honestly say, “I’m not sure I would do this deal.” And somebody will pipe in who knows the area, because they live there, and they’ll say, “This is the greatest deal there ever was,” or “Avoid it like the plague.”

Steven Jack Butala:
And so I’m now no longer the smartest person. I’m the ringleader, but I’m certainly not the smartest person in the room. And that’s what I strive for. I learn how to manipulate, especially in Career Path, I learn as much from other people that have joined Career Path, and are participants in that, as they do from me, I think.

Jill DeWit:
I agree. So here, you know what? That’s a beautiful way to end this. We talked about how you know you’re good at something, right? And how you need to push that forward, man. Accept it, embrace it, and go for it. Then you need to find a person that fills in those pieces.

Jill DeWit:
And the last thing that I think that we found out that we are collectively good at, is creating a community and putting this all together. That’s a whole different talent, that I didn’t know I had, or we had.

Steven Jack Butala:
Me too.

Jill DeWit:
And we are good at that.

Steven Jack Butala:
We just brought it out of each other.

Jill DeWit:
We did.

Steven Jack Butala:
And so if I was walking around [crosstalk 00:17:46]

Jill DeWit:
It’s a shared talent that we created together.

Steven Jack Butala:
If I was walking in my life with Jill, socially and/or professionally, saying “I’m the smartest guy in the room. Great. She can ask the phone and do that, but it really that…” It would never have happened.

Jill DeWit:
I hear you.

Steven Jack Butala:
And vice versa, I think.

Jill DeWit:
Thank you. Happy you could join us today. Five days a week. You can find this here on the Land Academy Show.

Steven Jack Butala:
Join us next week for another interesting episode. You are not alone in your real estate ambition.

Jill DeWit:
Yeah. So you know what, that’s what I was trying to say at the end here. It’s like we turned into… So knowing that I’m good at talking on the phone and selling, and knowing what you’re good at data, I think transformed into you becoming a really good educator, and me becoming a good motivator. And then that’s what’s needed to make this community phenomenal. [crosstalk 00:18:45] we are.

Steven Jack Butala:
You know, a lot of it was computers for me too. I had a computer class in middle school, and a really good computer teacher. She was really young and could identify with us. And that just set me for life. I met a couple of people in middle school that were in that class that are my lifelong friends to this day.

Steven Jack Butala:
I was building computers in high school, way before we should have been doing that stuff. So whatever it is, we all thought it was normal. But once I got out of that environment, everyone was looking like, “What do you mean you built a computer? You’re a genius.” I’m like, Well, I’m not a genius. It just made sense to me.

Jill DeWit:
Isn’t that funny? That’s a good indicator right there that you know you’re good at something. Everybody else looks at you like you’re nuts. Like how can you do that? You’re like, “What do you mean you can’t do it?”

Steven Jack Butala:
So I guess what I started to say earlier on, and maybe we’ll leave it with this, even though it’s Jill Friday.

Jill DeWit:
Yeah, whatever. Steal the show. It’s all good.

Steven Jack Butala:
Have this conversation with yourself.

Jill DeWit:
That’s it.

Steven Jack Butala:
What if there’s some stuff you just love.

Jill DeWit:
Take some time.

Steven Jack Butala:
And you haven’t done it for five years, because everybody says it’s stupid. And they’re wrong.

Jill DeWit:
It’s not stupid.

Steven Jack Butala:
It’s not stupid at all. What if you love raising money for nonprofits or something, I don’t know. Or helping. Helping the community. It’s all positive.

Jill DeWit:
Thank you. Thank you for tuning in. We hope you find our content valuable, and we appreciate your support. If you haven’t already, please check out our YouTube channel and hit that subscribe button. We are Steve and Jill.

Steven Jack Butala:
We are Steve and Jill. Information.

Jill DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

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