Jack Thursday – Concept of Deal Flow (LA 1701)
Jack Thursday – Concept of Deal Flow (LA 1701)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Howdy.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Stephen Jack Butala.
Jill K DeWit:
And I’m Jill DeWit, broadcasting for The Valley of the Sun.
Steven Jack Butala:
Today’s Jack Thursday and I’m going to talk about the concept of deal flow. Grossly, taken advantage of, not taken advantage of, taken for granted in this group and in our Land Academy group, because Jill and I are doing our jobs and we’re teaching everybody. Instructing everyone to create an amazing amount of deal flow that’s controllable and manageable. I’ll talk about it in a minute.
Jill K DeWit:
Is there a problem?
Steven Jack Butala:
No, it’s a great thing ever.
Jill K DeWit:
Are we in trouble?
Steven Jack Butala:
No.
Jill K DeWit:
Okay.
Steven Jack Butala:
It’s just the greatest thing ever and I’ll talk about it. 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, comment on the shows you like.
Jill K DeWit:
Edgar wrote, “I got the chance to meet Lori Phillips over the weekend in person, while she was on a trip down to Florida. We met at a nearby diner for coffee,” this is funny, “and maybe a big breakfast for me. It was surreal because she is just as one would expect and really genuine person who wants the best for you. We talked for hours about a variety of topics. Although I’m sure she had millions of other things to do, she made me feel like I was her top priority that day.”
Steven Jack Butala:
That’s what you get out of being a Land Academy member, is access to people like Lori.
Jill K DeWit:
Mm-hmm (affirmative). That’s it, that’s all there is?
Steven Jack Butala:
Yep.
Jill K DeWit:
Okay.
Steven Jack Butala:
Today’s Jack Thursday and I’m going to-
Jill K DeWit:
Thanks for sharing Edgar.
Steven Jack Butala:
… talk about concept of deal flow.
Jill K DeWit:
Yeah and thanks for doing that, Lori, by the way. That was so cool.
Steven Jack Butala:
This is why you’re listening, I want you to clear your mind for a minute and think from a philosophical or academic standpoint about why people are successful at anything. In my opinion… my goodness.
Jill K DeWit:
Let me cover for you.
Steven Jack Butala:
No, my goodness. People are successful in my opinion, because they have choices and when you are in a business where you have control over which deals you do and which deals you don’t do at the level where we do, because we have so much self-generated deal flow, that’s truly amazing. In all the companies and businesses that I’ve ever been involved in and responsible for bringing in new business, like in accounting bringing in new clients. You’re sitting in front of 22 choices of new clients and you get to pick the best two or three, the ones that you think you’re going to be able to make the most money with and get along with the most, they’ve all succeeded. When you don’t have deal flow opportunities, it’s very hard. When I started out in real estate, I wish somebody would’ve sat me down and said, deal flow is the whole key.
Steven Jack Butala:
If you’re a real estate agent and you have 14 opportunities to list 14 opportunities to list properties that day, you’re going to smash it out of the park in your career and it’s your responsibility to generate those opportunities, not anyone’s else’s. Well, we make that easy through these mailers. If you send out 25,000 mailers and you do it correctly, like we teach, you’re going to buy up to 50 properties at least 10. If you’re making $10 or $20,000 per property, now you’re making a quarter of a million on a mailer, all because of deal flow. This gets overlooked in this group. Jill and I get hundreds of questions all the time in different formats, the Thursday call hourly on discord, which is a really good thing, it shows me that people are interested and they want to succeed, which is what makes Land Academy work and what motivates us quite honestly.
Steven Jack Butala:
But I think that this concept of self generating deal flow is now getting taken for granted because I think there’s some people that have never been in an environment where there’s lack of deal flow. I grew up in lack of deal flow where it just wasn’t… there’s only 15,000 long-term care facilities in the entire country and I’m going to generate two or three this year because there’s just lack of deal flow and that’s just the nature of it. You get it yourself in an environment where there’s this many pieces of land in this country, literally a hundred million pieces of property, you can generate yourself some amazing deal flow.
Jill K DeWit:
So you know what’s interesting, I think a lot of people come to us from other careers and not necessarily business owners. If you’re a business owner already, you know how hard it is, you don’t just have a store, fill it with your great whatever it is, it’s sports memorabilia let’s just say, and you flip the open sign on and just here they come. No, you got to let everybody know you’re there, you go out and get the customers, there’s a lot of work. There’s so much money you put into advertising and things like that, so if you’ve never owned a business, you don’t know that. There’s just… go ahead.
Steven Jack Butala:
This is target specific deal flow, you are specifically sending a note or a letter to somebody that owns a piece of property and there’s a predictable chance they don’t want it anymore, they just want it out of their lives. Versus a Pepsi commercial, a Pepsi commercial, how much wasted reach and wasted message delivery is in a national Pepsi commercial?
Jill K DeWit:
Isn’t that amazing?
Steven Jack Butala:
We don’t drink Pepsi, we don’t drink that stuff, it’s just wasted on me. In fact, little by little, it takes a piece out of me as a consumer. I don’t need to know that stuff but if I get a letter from somebody that says, I’m really interested in buying this classic car that you own, and I know you own it, because I can see it right here, I’m going to pay attention, that’s not wasted on me. Or if I get a letter that says, I know you own this classic car, I have one too, how about you take a look at mine and add it to your collection? So that’s not wasted, it’s very methodical and very targeted and deliberate and meaningful
Jill K DeWit:
Deliberate, specific-
Steven Jack Butala:
And consequently cost effective, crazy cost effective for the people who are sending out the message, which is us.
Jill K DeWit:
Well, there are people that are doing it a different way, when they send, think about this though, think about the people that… nevermind, it’s not a good example, I was thinking about postcards.
Steven Jack Butala:
Here’s another one, how many times do you see when you’re involved in regular media, maybe it’s online or television, notes or commercials about refinancing your house? How many people are watching that or is that heading where they live in an apartment. It’s very ineffective, old school advertising and most marketing is crazy ineffective. Even when you look at Facebook marketing, which for us is very successful, both in selling land and recruiting good new Land Academy members is still grossly ineffective compared to direct mail marketing. Where you’re saying, I know you own this property, I know it’s 13 acres, I exactly where it is and I’m willing to offer you $22,000 for it. Give me a call if you want to sell it, we can close pretty quickly.
Jill K DeWit:
I just think it’s amazing and awesome that we all know this in Land Academy and if you’re new, you learn it really quick. You have control of your deal flow, that’s the point. You have control based on how many offers you send out, you want your phone to blow up, send out 25,000 a week and try to keep up.
Steven Jack Butala:
Exactly.
Jill K DeWit:
And that’s the beautiful thing.
Steven Jack Butala:
Or build a staff that can handle it.
Jill K DeWit:
Exactly or you’re doing it by yourself and you send 5,000 a week or 2000 a week, whatever you can handle, but you can turn it up, turn it down, it’s never ending and it’s wonderful. That’s my only comment. Happy you could join us today, five days a week, you can find us here on the Land Academy Show.
Steven Jack Butala:
Tomorrow’s Jill Friday, she’s going to about how to get over the first deal jitters. You are not alone in your real estate ambition. We answer a lot of questions about tiny little details, not just us, but in discord I see these constant questions about what phone company should I use? Somebody said it earlier, Jill and I held a talk for new people last night, it was a blast, both of us had a blast doing it and I think the new people got a lot out of it. One person asked a question, how do I get out of my shell? My answer to everything for myself has always been, I’m going to go into a closet, I’m going to bring my laptop, I’m going to come out eight hours later with all the information that I need. So that’s a very valid concern to which I said, look, you have control over deal flow and that clicked with her for some reason, I could tell it clicked with her. You have control over your deal flow, no one can say that.
Jill K DeWit:
Yep, it’s amazing it’s really true. Thanks 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.
Speaker 3:
We are Steven Jill.
Steven Jack Butala:
Information.
Jill K DeWit:
And inspiration.
Steven Jack Butala:
To buy undervalued property.
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