Jill Friday – Land Love Language (LA 1692)
Jill Friday – Land Love Language (LA 1692)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Happy Friday.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.
Jill K DeWit:
And I’m Jill DeWit, broadcasting from the Valley of the Sun.
Steven Jack Butala:
Today, well, it’s Jill Friday. Jill’s going to talk about land love language.
Jill K DeWit:
This came up a couple weeks ago. I realized, “What’s your land love language?” Because we look at things differently and I say we meaning him and I, so I’m sure that’s probably going on in your world. First, let’s take a question posted by one of our members on the Land Investors online community. It’s free, and don’t forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. You want to read it?
Steven Jack Butala:
No.
Jill K DeWit:
Okay. Kyle wrote-
Steven Jack Butala:
I don’t know where you’re going with this.
Jill K DeWit:
You could just sit back this show.
Steven Jack Butala:
Jill’s on a mission today.
Jill K DeWit:
I am. Kyle wrote, “So I’ve been doing a lot of red, yellow, green testing in the past 48 hours.”
Steven Jack Butala:
Good.
Jill K DeWit:
“Hundreds of rows. Is it weird that 80 to 90% of all of them are passing as green for infill lots? I’m just worried that I’m doing something wrong.”
Steven Jack Butala:
No, in fact the opposite. I think you’re doing something very, very right.
Jill K DeWit:
Like you picked the right areas out of the gate?
Steven Jack Butala:
I think you did everything. You followed the program. I think-
Jill K DeWit:
If you are in doubt.
Steven Jack Butala:
… probably, you trolled for the correct areas. I think you tested and retested and tested the zip codes that you found against each other and then you priced it correctly, because 80 to 90% of what’s coming out is a go. And so that’s what these fail-safe stopgap measures that I put in place for all this stuff, they’re working for you. So step-by-step you’re doing this, at any point when you go back and test it, if you’re coming up with 20 or 30% are green, then you go back and go back and choose different areas, or choose different pricing, or trace your steps back so that you don’t send out a bad mailer. That’s what these steps are all for.
Jill K DeWit:
So he’s got hundreds of zip codes that are working for him. So there’s going to be a way, Kyle, that you could… You picked the hottest. Even though they’re green, they’re hitting your green criteria, whatever that is, like days on market less than 30 and this percentage and that percentage. You know what I’m talking about. So I would pick the hottest ones first, obviously. And then my question to you, Steven, is how long is this data going to be fresh? Can I use the same? So he’s got hundreds of rows. He’s not going to send out 900,000 units of mail this month. So he’s going to stretch it out. How many months is this data good for?
Steven Jack Butala:
Six.
Jill K DeWit:
Six months. Okay, good. So you can use this and divide it up, pick your hottest ones and hopefully have six months worth of mailers ready to go, which, in my world, I think that’s awesome. I think that’d be great.
Steven Jack Butala:
I’ll tell you, I mean, when this happens to me, and it doesn’t happen that often where it’s 80 to 90%, that’s really pretty strong, I would just send it all out.
Jill K DeWit:
But again, unless it’s you don’t have the staff to handle that much mail. You don’t want to-
Steven Jack Butala:
I would-
Jill K DeWit:
You want to be able to handle the calls.
Steven Jack Butala:
… comfortably send out 25,000 units at a time.
Jill K DeWit:
Yeah.
Steven Jack Butala:
Do you think that’s too many?
Jill K DeWit:
Yeah. It depends on who’s taking the calls now. I do.
Steven Jack Butala:
Well, I don’t take the calls. I just send the mail out.
Jill K DeWit:
I know. But, see, you have us. This is my point. Think about what you can handle, because, look, the last thing you want is to have so many deals come back and then you can’t… I mean, I want to have a ton, but I want you to be able to process them all and be able to buy them all. So I’d rather have a good pace, whatever it is to you, Kyle. Figure out your pace, and congratulations.
Steven Jack Butala:
Yeah.
Jill K DeWit:
That’s all I have to say.
Steven Jack Butala:
Today’s Jill Friday. She’s going to talk about land love language. This is the meat of the show.
Jill K DeWit:
So this came up, I think, from a Career Path Office Hours, I think that’s where we were talking about it. And what is that? So we have a series of training that we offer. It’s a 10 week program where it’s with us directly. And it’s-
Steven Jack Butala:
It’s for people who want this to be their career or it is their career.
Jill K DeWit:
Right. Well, so we have a 10 week program to get them from wherever they are to wherever they want to be kind of thing, in that I mean that. Fill in the blank, like, “All right, Jill, I want to go from 100,000 a month to a million a month,” or whatever it is. All right. That’s what this is for kind of thing. Or, “I want to go from 1,000 a month to 10,000 a month.” That’s exactly what this is for. So we have a thing that we do every week called Office Hours, where it’s kind of like getting to be with a professor and maybe the teacher’s aid and ask some questions outside of class time and dream it up.
Jill K DeWit:
And we were chatting the other day. It’s very casual. It’s fun. And people were half listening, sometimes working on stuff, maybe posting property while we’re listening to the different conversations and then chiming in with something like, “Oh, I want to talk about that.” And it was, for me, I’m like, “Oh, there’s a land love language.” I just realized it. You have a land love language and I have a land love language. So hopefully by now, you know what a love language is. If not-
Steven Jack Butala:
Well, I’m pretty sure that-
Jill K DeWit:
… just Google that.
Steven Jack Butala:
… less than half people… Can you explain it? Because-
Jill K DeWit:
Okay. So first of all, there’s a love language, which you should Google if you don’t know what that is. And some people might be affection, and some people might be acts of service, meaning they want you to do something for them. So every person has their own love language. And the whole point of this is to have a happy relationship, you learn what that person’s love language is, not yours. You don’t walk around saying, “Well, my love language is affection. So guess what? That’s what I’m giving you whether you like it or not. I love affection. So all you’re going to get is affection.” No, you’ve got to learn what they are.
Jill K DeWit:
So mine is affection and yours is acts of service. I think you like it when I do things for you, like even just being on time and helping with this or just whatever little things like that. That’s what Steven loves. So I know that about him. So then I took it a step further. I’m realizing, “Holy moly, we have our own land love language.” So what does that mean? There’s deals that I like to do. There’s deals that you like to do. There’s deals that both of us hate to do. And so every person has their own land love language. And it’s not necessarily, you’re going to love this part, not necessarily the deal itself, or where the property’s located, or how much money we’re spending, but it’s pretty much the transaction. Like, I like to sell fast right now. I always have liked to sell fast.
Steven Jack Butala:
This is true. This is brilliant, actually.
Jill K DeWit:
Thank you. My happy place is somebody rubbing my feet while I’m sending in a deed to get recorded. What? Right? I got the affection in there and my land love language while I’m sending in a deed to be recording because I sold it in five minutes. And I’m like, “Yep, done. Money’s in the bank. Moving on.” Now, your love language right now is, “Let’s slow this down, everyone, and maximize the profit,” which is not natural to me.
Steven Jack Butala:
It sure isn’t.
Jill K DeWit:
But I’ve learned that’s your land love language. So I try to do that for you.
Steven Jack Butala:
Well, I hope the opposite is true, honestly. Look, we earlier this week talked about buckets, the three types of transactions that you do. So depending on the acquisition that you’re bringing in or what you’re targeting from a mailing standpoint, not all deals… Some deals we buy them and we set the price at retail and we wait a year and it sells. That’s what she’s referring to. That’s against Jill’s whole thing.
Jill K DeWit:
Right. But that’s your land love language.
Steven Jack Butala:
No, it’s not on all the deals, though.
Jill K DeWit:
Oh no, no, no, no, no. So I would on every deal, I’d sell it fast. I don’t really care. Do not care.
Steven Jack Butala:
Why is that?
Jill K DeWit:
You know what? It’s just moving on, moving on, moving on.
Steven Jack Butala:
You just don’t feel like you’re leaving too much money on the table?
Jill K DeWit:
No, I’m okay with that, because I’ll do that much more in volume. So my whole point here today is, are you and your partner on the same page? Because that’s important. You need to learn what the other person’s… There’s a lot of us in our world-
Steven Jack Butala:
That’s true.
Jill K DeWit:
… that have partners. And why? Because we’re not stupid. It makes life easier having a partner who does the stuff that you don’t like.
Steven Jack Butala:
For sure.
Jill K DeWit:
That’s the best thing. And they are good at the things that you’re not good at. So, that’s one of the best ways to build your business is to bring in somebody else. Yeah, you’re giving up some of the profit, but you know what? You’re going to get there faster and be happier and get there. So you need to learn what their land love language is.
Steven Jack Butala:
And pay attention to it and use it.
Jill K DeWit:
And feed them.
Steven Jack Butala:
Use it to everybody’s benefit. Yeah. That’s the whole point here. I learned stuff today.
Jill K DeWit:
Yeah. So if our whole business model… could you imagine this? … our whole business model was, “Ah, it’s going to take a year. Let’s try this out. Let’s try that out,” you would lose interest. I know it. You would lose interest anyway, and I would have been out a long time ago.
Steven Jack Butala:
Yeah. Yeah, you’re right. I think the whole big picture point is, and this is what my takeaway is, just pay attention to what the other person’s got to say.
Jill K DeWit:
Yeah.
Steven Jack Butala:
And then don’t argue about it. Just say, “Yeah, that’s the way Jill is, and it’s working.” And so I’m not going to combat that.
Jill K DeWit:
No.
Steven Jack Butala:
I’m going to let it happen.
Jill K DeWit:
Well, because-
Steven Jack Butala:
In her own way.
Jill K DeWit:
Well, nobody’s right or wrong. That’s a whole point too.
Steven Jack Butala:
Right.
Jill K DeWit:
I can justify my land love language, and this is like a tongue twister here, and how it benefits us financially. And you can do the same. So the best thing I can think you can do in this discussion, not just about the discussion but to make it happy in your business, is figure it out and do a little bit of both. Do enough that makes that person happy and then makes you happy. And sit down together and define the criteria, which we have done. He’s like, “Don’t sell it that cheap.” I’m like, “No, hold on a moment. I won’t. I’m not giving it away. I’m not doing a fire sale here. So as long as I get X, what do you think?” Because sometimes it’s on accident. This is what happens sometimes. I know you look at me, you’re like, “What did you just do? And why did you sell it so fast?” I’m like, “I didn’t try to.” Here’s part of the problem. We buy great property. If it’s not great, I’m not buying it. We don’t buy it.
Steven Jack Butala:
Great price, great property, great everything.
Jill K DeWit:
And sometimes it accidentally sells faster than I want it to, especially in today’s environment. So I really have to sit down with him too. I want to be on the same page and I let you know that, “Hey, I didn’t try. We agreed upon this. I thought I was going to take 90 days. I’m sorry, I thought it going to take 90 days and it took 90 hours.”
Steven Jack Butala:
I mean, this is a really light, intelligent way of describing something that’s imperative for a successful partnership.
Jill K DeWit:
Correct.
Steven Jack Butala:
It is. This is a great way of explaining this.
Jill K DeWit:
Thank you.
Steven Jack Butala:
You have to be on the same page as your partner most of the time. When you’re not, you need to just let them do what they’re going to do, because you’ve chosen them as your partner.
Jill K DeWit:
Trust them.
Steven Jack Butala:
Yeah. And way more often than not, Jill runs off with something and it’s all… Because she comes back with a pile of money.
Jill K DeWit:
Yeah.
Steven Jack Butala:
And that’s the kind of partner you want.
Jill K DeWit:
Thank you. I appreciate that.
Steven Jack Butala:
This is a great, cute little Friday way of describing that.
Jill K DeWit:
Thank you. It’s important. I call it the land love language, but it’s really important.
Steven Jack Butala:
See, I would’ve named this, I would’ve said-
Jill K DeWit:
What would you call it?
Steven Jack Butala:
Does Your Partner Suck?
Jill K DeWit:
Oh.
Steven Jack Butala:
And If They Do, It’s Probably You, Not Them. That’s the whole title.
Jill K DeWit:
That’s actually true. Well, and that’s why my point is the whole thing’s about getting to know the other person’s land love language, not yours. Because if you are going to barrel through, whether it’s in life or business, only doing what you want to do and shoving it down your partner’s throat, let’s see how long that lasts.
Steven Jack Butala:
Yep. Well, at this stage, it’s like a week.
Jill K DeWit:
There we go.
Steven Jack Butala:
Maybe a day.
Jill K DeWit:
Maybe a day. Happy you could join us today. Five days a week you can find us here on the Land Academy Show.
Steven Jack Butala:
Join us next week for another interesting episode, You’re Not Alone In Your Real Estate Ambition. Great work, Jill.
Jill K DeWit:
Thank you. I’m so glad we talked about that.
Steven Jack Butala:
It was super, super, super, super important.
Jill K DeWit:
It is.
Steven Jack Butala:
We get really technical on this show because of me, and this is good.
Jill K DeWit:
Well, okay. Yeah. It doesn’t have to be technical to be important. Is that what you’re trying to say?
Steven Jack Butala:
Yeah. Yeah, that’s exactly what I’m saying.
Jill K DeWit:
Okay, thank you. It’s really important. Thanks for tuning in. We hope you find our content valuable and we appreciate your support. I know we say this a lot, but if you haven’t already, please check out our YouTube channel, hit the subscribe button and comment on the shows that you love.
Steven Jack Butala:
We are Steve and Jill.
Jill K DeWit:
We are Steve and Jill.
Steven Jack Butala:
Information.
Jill K DeWit:
And inspiration.
Steven Jack Butala:
To buy undervalued property.
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