What Kind of Person or Investor are You (LA 1808)
What Kind of Person or Investor are You (LA 1808)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill DeWit:
Hello.
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 sunny Southern California.
Steven Jack Butala:
Today, Jill and I talk about what kind of investor or what kind of person are you and maybe what’s…
Jill DeWit:
What kind of person are you? That’s true.
Steven Jack Butala:
What’s most conducive for being a land investor?
Jill DeWit:
Got it. Do you believe in karma?
Steven Jack Butala:
Yes.
Jill DeWit:
Because there’s part of that I do believe I get more deals because of that.
Steven Jack Butala:
Absolutely.
Jill DeWit:
And we’ll talk about it.
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 if you’re a member, please make sure you get yourself involved into Discord. It’s become a huge tool. I also hope you know by now that Jill and I personally teach a class called Career Path for people who want land investing to be their career, whether you’re brand new or you’re doing 25 deals a month, we get all kinds. Our next class, I think, is in October.
Jill DeWit:
Career Path Five is coming in third quarter of this year and I am literally working on the emails and things like that. So this month they will go out. But if you want to find out more, just go to landacademy.com/careerpath and you will find it there. Megan wrote, “There’s a seller with 6.8 acres in Oklahoma. He’s willing to sell, but he doesn’t have mineral rights on the property.” Sorry, Brock. There we go. “And it has four oil wells on the property. Any feedback regarding what to do with the situation is appreciated. Is it always a no go for land with oil wells? Or is there something I’m unaware of? Thanks.” So member Chip piped in here, and it’s obviously a good one because Jack included it today. So I’m going to read this and then I’m positive Jack’s going to have some stuff to say, because Jack often has stuff to say. Chip wrote…
Steven Jack Butala:
For better or for worse.
Jill DeWit:
Too often Jack has stuff to say, we’ll get to that in a minute. Okay. Chip wrote, “I have several deals currently with oil wells on the property. Now, depending on the state, there’s usually a surface rights waivers,” excuse me, “that allows use of the land. And the minerals do not convey with the purchase. That’s kind of normal. The pads can be sizable. So I want to determine how much usable land is actually available. Also, I have one in contract to close now in which the oil company is requiring to do a topographical survey prior to them releasing the surface rights. This is the first time that I encountered this and it seems like a BS fee that they’re charging. It’s a three week process and it’s $50,000 bucks to survey around the four oil wells on this 217 acre track. My buyer is still moving forward.” How interesting is that? So that’s a good example. All right. Four oil wells on over 200 acres. I’m pretty sure there’s some usable land there.
Steven Jack Butala:
Well, the whole point is Megan’s a relatively newer… She reeled a property in with oil. It’s an oil situation, its got oil wells. Chip’s been doing this. He goes on to say way beyond what we posted here in discord. You know that this is his mission in life. And he did this before he joined Land Academy and he is now utilizing Land Academy as a way to get more properties, which he’s obviously doing. And so $50,000 bucks is chump change for him, I’m sure.
Jill DeWit:
On a 200,000 acre or 200 acre.
Steven Jack Butala:
Well, he’s got all kinds of properties like this that he’s leasing to oil companies. So my point is, if you don’t know about it. I don’t know much about this, I would go into Discord and ask these questions too. So this is how Land Academy works.
Jill DeWit:
Isn’t that interesting? You’re right. People don’t realize that there’s people who are current and or former city planners in Land Academy. Current or former oil people and forestry people, people that cut the trees. I’m trying to think, timber people, all kinds of resources. Because they find us, they are brainy like we are and they see the value in it too. That’s the thing. Timber’s a good example. I can think of a person in particular right now too that’s like, “Oh my goodness. Before I knew you guys, I was wondering how I could make money on this too. These other people are coming to me. I tell them the value of the timber. I help them in selling the timber.” He’s like, “And I realized I could be making this money for myself. So I was really happy to find Land Academy. So now I can seek that out because I know what I’m doing here.” That’s awesome.
Steven Jack Butala:
Today’s topic: what kind of person or investor are you? This is the meat of the show. This came up because Jill and I are in Southern California on half vacation. Today’s Thursday, we’re recording all the shows. We’re going to have the Thursday webinar, the weekly webinar for our members later. And so Thursday’s kind of our Workday, but honestly we’ve been horsing around pretty well.
Jill DeWit:
Oh, yes, very well.
Steven Jack Butala:
So we have a Vrbo, Jill rented us a house for whatever, 30 days. This is not the first time this has happened. We get to the house. We unpack all of our stuff. Jill immediately goes on Amazon. She gets all new floor mats.
Jill DeWit:
I got some new rugs.
Steven Jack Butala:
New rugs. She has no intention of bringing these with her. She’s just improving the place. And I immediately, this isn’t the first time I’ve done it, go into the garage in this case, sweep it all out, clean it up. And we don’t ever talk about it. And it led to this topic. And I’m not patting ourselves on the back and saying, “We’re great.” That’s just not the case at all. For whatever reason, we’re going to leave this place better than when we found it. This is not here. This Vrbo, this piece of real estate that we’re living in for 30 days, we’re going to make it better. And it’s not here to make me feel better about myself.
Jill DeWit:
It’s just who we are.
Steven Jack Butala:
And that’s how I feel about real estate deals. We have never talked about this.
Jill DeWit:
No, you’re funny. That was the whole thing. You’re changing batteries in the door and all that good stuff. “I’ll get more batteries. I saw they’re out of this kind.” It’s just who we are. And that translates into our community and the people we attract, which is awesome. So that for me is one of the huge things. When we first started to create the Land Academy community and I watched everybody helping everybody else for the sake of just helping, I’m like, “What’s going on?” And then I realized, “Oh, it’s who we are.” We’re helping and then you’re helping. And then that person’s going to help somebody else. We’re all getting better together. And then can I end in a point? Yeah. The other point I wanted make was it, for me, also bleeds into the people that I work with as far as sellers, as far as buyers. And as far as brokers and agents, everybody they work with. The like-minded people come out and we’re getting where we do some great deals and everybody’s happy in having a good time in helping each other.
Steven Jack Butala:
Very often I hear Jill obviously talking to sellers. All the time she’s talking to sellers and many times she gets off the phone with the seller and then we talk and she’s like, “Look, I don’t think we can buy this piece of property. This lady or this seller, somebody passed away, the property didn’t convey correctly through the estate or just somebody died with the property in their name and not in their heirs name.” And so Jill goes about helping this person, either get it into the right name or hook her up with an attorney that can do that. Jill’s got actually a list of attorneys that are really good attorneys around the country that she turns them onto. It’s just the right thing to do.
Jill DeWit:
It’s a few extra minutes out of my day to help somebody else then maybe they’ll come back. And often they do, “Hey, I got this worked out. It took me six months, but I got it worked out. You still want to buy it?” Well, that’s awesome. I’m their first call, you better believe it.
Steven Jack Butala:
So this is not the Jack and Jill altruism episode by any stretch. That’s not what this is. I’m just saying you have to decide.
Jill DeWit:
What kind of person are you?
Steven Jack Butala:
Yeah.
Jill DeWit:
I’ll tell you, if you’re the kind of person that sticks it to somebody and takes from them and steals from them and maybe downloads data and doesn’t pay for it. That’s a little pet peeve of mine right now.
Steven Jack Butala:
Yeah. That might have been why this episode came up too.
Jill DeWit:
Just saying. I’m going to trust it’s going to come back to you. Someone is probably going to do it to you. So I’ll leave it at that. I could go on on that one.
Steven Jack Butala:
The way that downloading data in the Land Academy group goes is there’s an honor system. You drive down the road, especially out here in the Southwest, people have tables out because they have citrus trees. So they have a little money box and a big package of oranges or whatever. And it’s like, “Please put five bucks in here and grab a bag.” So that’s how our data system works. And there’s always a couple people. You know there’s going to be somebody who’s going to grab all that money on the side of the road, unfortunately, once in a while, so that’s too bad. But we have the version of that honor system for data. That’s why we can keep our data prices so low. There’s always one person.
Jill DeWit:
There’s always one.
Steven Jack Butala:
There’s always somebody who decides to download 600,000 records or some number. It’s not that much.
Jill DeWit:
It’s interesting too. It comes out. I’m just thinking more about Discord. So much of what we do and interact with each other as a community happens in Discord, which it’s real casual, it’s chatting. We’re on our Thursday call. And if you’re not a good person, you better believe it’s going to come out because all the other good people in our community will spot you. And you burn one person, no one’s going to want to do a deal with you. So you know what? That’s the thing too. Don’t be that guy. You don’t want to be that guy. You don’t have to be like, “Jill, I’m not over the top. Lovey cuddly, nice, whatever.” That’s fine. I’m not saying that. I want everybody to do the right thing. And if you do the right thing, stuff comes back.
Steven Jack Butala:
I grew up in the Midwest, in a suburb of Detroit, very close to Detroit, yards away.
Jill DeWit:
And there, you probably learned to really do the right thing because you saw it every day.
Steven Jack Butala:
It was quite the opposite.
Jill DeWit:
I’m joking.
Steven Jack Butala:
What I learned there, the culture there is if you want do well in life, you’ve got to screw somebody over.
Jill DeWit:
That’s sad.
Steven Jack Butala:
I know and I know Jill grew up in the exact opposite environment, which is the correct way. Jill’s way is the correct way. And it never sat well with me. I always knew I don’t have to trick somebody out of their money. We can actually buy property, solve somebody’s property by buying piece of real estate and reselling it, getting it back out of the tax roles or whatever ends up happening through our channel.
Jill DeWit:
And they’re happy. It’s funny that hasn’t come up in a long time. People used to say, “Isn’t everybody mad?” I’m like, “Why would they be mad at me? I’m solving the problem. They’re getting cash on Tuesday. They need the money.” And especially with the articles and the things that I keep reading coming up, more people are going to need the money. So there’s going to be better, greater, awesome deals coming our way. I’m ready. Happy to join us today. Five days a week, you can find us here on the Land Academy show.
Steven Jack Butala:
Tomorrow the episode on the Land Academy show is called: People Who Can’t Say Yes, You Are Not Alone In Your Real Estate Ambition. You can tell we’re on vacation.
Jill DeWit:
I know.
Steven Jack Butala:
We don’t have any technical. There’s no real land technical episodes this week. I think there is tomorrow. I know there is tomorrow.
Jill DeWit:
I can’t remember where this topic came from.
Steven Jack Butala:
Or two days from now. It came from me and here’s the honest truth, and I’ll explain it to you in great detail tomorrow. It came from me because I’m on vacation watching an episode of Dr. Phil, which I never do.
Jill DeWit:
Oh, yes, now I remember. I say yes, clearly.
Steven Jack Butala:
I know. Well Jill can’t say no.
Jill DeWit:
I say yes a lot, that’s true. I’m the people that can’t say no, that’s the opposite. Oh my gosh, Dr. Phil could do a whole month on me. That’s awesome. Hey, thank you for tuning in. By the way, in case you didn’t know, it’s still new and it’s still fresh and we’re so excited to have relaunched the Land Academy program this year, new for 2022 and it’s called Land Academy 3.0, Catching Up With Land Academy, because we do things differently from the last many years, especially since the nineties. And we want to keep you current and you up to date and that’s who we are and that’s what we do. So if you check it out, if you have any questions, you’re not a member, go to support@landacademy.com and drop us a note and we’ll get you some more information.
Both Speakers:
We are Jack and Jill.
Steven Jack Butala:
Information…
Jill DeWit:
And inspiration.
Steven Jack Butala:
To undervalued property.
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