Career Path Alumni Call Topic: Mailer Yield is Subjective (LA 1852)

Career Path Alumni Call Topic: Mailer Yield is Subjective (LA 1852)

Transcript:

Speaker 1:
Steven Jill here.

Speaker 2:
Hello.

Speaker 1:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.

Speaker 2:
And I’m Jill DeWit, broadcasting from the Valley of the Rain. If you’re watching this and you are looking over my shoulder like, “I see a lot of green.” Yeah, that’s a lot of green. And it’s wet green. We are literally sitting… As you can see, it’s not as glamorous. I may or may not be in an RV dinette. Yes, that’s exactly where I’m sitting. Highly encourage you to go on YouTube and you’ll get a kick out of this. And, “Jill, why is your hair frizzy?” Oh, because it’s big hair day here in the Valley of the Rain. It’s a-

Speaker 1:
Our final child is officially in college, and the same week we left, Jill and I left in our RV and are driving across the country. We’re in Madison, Wisconsin today. We were in Nebraska for the last couple of days before that, in Colorado for an entire week. Tomorrow will be in Michigan and we’ve got a wedding to go to in Northern Michigan. And then, who knows?

Speaker 2:
I got to tell you, this has been a blast. We’ve talked about this a lot. If you worry about, is there enough land out there? Take a drive across the country just once. I don’t care where you go, what state you cross, just get out of your little bubble and drive around a little bit. You’re going to go, “Oh yeah. There’s a whole lot of land out here.” There’s also a whole lot of corn out here. We’ve found all the corn.

Speaker 1:
And beans.

Speaker 2:
And beans.

Speaker 1:
And-

Speaker 2:
Soybeans. Yup.

Speaker 1:
We obviously spent a couple of days in the heartland. Nicest people you ever want to meet.

Speaker 2:
Oh, we’re having so much fun.

Speaker 1:
Yeah, absolutely a blast. Yeah.

Speaker 2:
I find myself saying things like, “I had no idea Iowa was so cool”, and “I had no idea that…” Yes, we did watch the Green Bay Packers and the Minnesota Vikings game. This is what’s so cool, we got to see Iowa and Iowa State play, in Iowa, in a bar. And then the very next day, that was on a Saturday night, and the next day on Sunday night, we watched in Wisconsin, at Green Bay-

Speaker 1:
In Madison, Wisconsin.

Speaker 2:
In Madison Wisconsin.

Speaker 1:
Close to Green Bay.

Speaker 2:
Here. Yeah, we watched the game, the Green Bay and the Vikings game. Not going to talk about how that all went.

Speaker 1:
Yeah. We’re the wrong

Speaker 2:
Those who live here where we’re sitting, we won’t bring that up. But anyway, it was fun and cool to say that I’m here and I get to be here with everybody watching I’m going to have such a blast.

Speaker 1:
The point is, we’re in an RV doing our job’s pretty effectively.

Speaker 2:
Yeah.

Speaker 1:
All the land academy roles we have, and buying and selling land. So if we can do it, you can do it.

Speaker 2:
You can do anything. You really can.

Speaker 1:
If we only had to buy and sell land, we would work like half a day a week.

Speaker 2:
Once a week. That’s it. Four hours, that’s all I need

Speaker 1:
Today. Jill and I talk about career path alumni topic: how mailer yield is subjective the first Tuesday of every month. Everybody who has been through our career path program, and I think Jill’s got another one start in October, we all get together and kind of have a mastermind group and this topic came up, and it was so… it hit me so square in the face in a good way that I want to talk about it today, because I think it’s really going to help everybody.

Speaker 2:
Thank you.

Speaker 1:
Before we get into it, let’s take a question posted by one of our members on the land investors.com online community. It’s free

Speaker 2:
And can I say about this? Can I give this little-

Speaker 1:
Sure. Oh sure. Yeah, yeah.

Speaker 2:
So before you launch into Career Path, let me talk about career path for just a second. We are T minus 30 days. What is career path? It is the top level personalized coaching, spend 10 weeks with us program, period. If this is your career or you want it to be, if you’re already a career investor and you’re trying to take it to the next level or what’s going on, you have a handle on what we do, and you’re like, “I just want to make this my career.” And you want to fast track it and be with the masterminds, and be with the top level, and you’re not messing around. That’s career path. So check it out. We are, like I said, we’re less than a month out. Go to Land Academy/career path for the details. If you have any questions, reach out to my team support@landacademy.com and they will help you out. I do have seats. Don’t know how long I’m going to have seats because it’s a very small group. I don’t let more than 20 in, usually less than that. We’ll see how it shakes out.

Speaker 1:
I have to tell you, since we’ve been on the road, I’ve worked a lot less and I have this feeling…

Speaker 2:
Oh you have more feelings now.

Speaker 1:
Yeah. I have a feeling that it’s like, I don’t know, I should be doing more. But the fact is we’re getting everything done and so I don’t know. Do you feel that way?

Speaker 2:
You know what it is? We used to say it a long time ago, every time we leave the office we make more money.

Speaker 1:
Yeah. That’s happened now

Speaker 2:
Yeah. The staff that’s, thank God they’re gone.

Speaker 1:
And then I said-

Speaker 2:
It’s our kids. Your kids are like, “Thank God they’re gone.”

Speaker 1:
Then I started thinking today, “has anybody ever said this sentence?” Have you ever heard of any… Our staff, or any member, or anybody ever say, “Boy, I really wish you guys would kick out more content.”

Speaker 2:
Oh, that’s for sure.

Speaker 1:
No one’s ever said that.

Speaker 2:
No, That’s true. All right, so here’s back to the whole point and back to the question that was posted here. Matt wrote, “I have a hole in my current knowledge on why we should close with a local title company. My local title company says it can close anywhere in the country with a mobile notary. Is it mainly an issue of making the seller as comfortable as possible?”

Speaker 1:
Partly.

Speaker 2:
“Maybe sellers don’t know or trust the mobile notary the same as going to an office. Any suggestions or reasons you could share about why to use a local title company would be appreciated.” I got to say honestly, Matt’s plan is the best. If I had one, most title companies don’t have an… Let me say here, most title companies don’t have nationwide extended access, and I question his title company because what they do is hang up and call the local person there.

Speaker 1:
That’s right.

Speaker 2:
And you’re adding a layer.

Speaker 1:
And they mark it up.

Speaker 2:
Exactly. And they’re taking a cost for that. So I’m not really a fan of… So I would like to find out are, “Gee Sally, are you guys really officially… Are you Sally and your ABC title company officially licensed, if you will, to close titles yourself in all 50 states? If you are, or at least all the states I’m working in, great.” I’ve had some that do four states and for a while I’ll use them for those four states. That’s great. Go ahead.

Speaker 1:
I had this happen to me a very, very long time ago where I found a title company, a local title company in Flagstaff, Arizona that was doing my deals. And I asked them if they could do a deal in Nevada and she said sure. And that ended up being my first transaction coordinator before I ever called it that. So what I was doing was utilizing this person in Flagstaff to do all my deals all over the country. She was marking each deal up, whatever the numbers end up being, $200 to $400 a deal. And boy did I not care. That took all the responsibility off of me, I had one point of contact for all the transaction I was doing all over the country. So this can be a beautiful thing, just go into it knowing it’s going to be more expensive. And if that transaction… That the person that you found is, let’s say doing a deal two states over, you don’t need to get to know the two states over pedal. You’re just causing problems for yourself. Just go through that one person and it should be okay.

Speaker 2:
It’s pretty cool actually. It’s worth it sometimes.

Speaker 1:
I Agree. Today’s topic, career path alumni call topic: what is mailer yield and why is it subjective? This is the meat of the show. So like I said earlier, every Tuesday… Or the first Tuesday of every month, we get all the career path alumni, all the people that have been through the program, and a few people from the original Advanced Atlantic Academy group, gets together on a mastermind type call and ask each other questions, like, How much mail are you sending out? Are you making enough money? Are you happy, are you unhappy? And on and on and on. So we’ve had some people come through the career path that are very, very successful and one of those person’s name is Ike, three to five million dollars a year. He makes pretty consistently with Land Academy, and he was total sleeper member. Jill and I didn’t know of him at all until he joined Career Path and we all got to know each other. So, another member asked this question, “I’m trying to get to the next level. We’re making about five or 600,000 a year, I want to get to the next level. What do I have to specifically do from a mailer standpoint, so I can times two, times four?” And, to which, we all said, “You just got to send out more mail.”

Speaker 1:
This member who’s asking this question has been in our group for a very long time. They’ve attended both live events way before covid. And this member’s had this same question for quite some time. And so other members have heard, other career path alumni have heard this question from him, and other people many times. And we really kind of kicked our gloves off, put the gloves off during this call and said this is subjective. And this very successful member said some version of this, “Sometimes I send out a 500 unit mailer and get three deals. Sometimes I’d send out a 15,000 unit mailer and get nothing. I get five hate calls and that’s all. The trick is to send out incredibly diverse high number mailers, as many as you can, and in the end it’s all going to work out great.” It’s very subjective, it’s how you feel about it.

Speaker 1:
Jill and I are very comfortable buying properties, for some reason 30 to $40,000 and selling them for 80 to $140,000, over and over and over again in about four places in the country. And we do very, very, very well with that methodology. Every book, there’s other people who do it completely differently, but I’ll tell you what you can’t do. In most cases, not all, is do the same thing over and over and over again, in the same place, and expect your yield to be… You can measure it with a stick. And so the people that have a tough time quantifying this are usually recovering accountants like me, former engineers or software developers, people that they need to know they’re going to get three deals out of sending 5,000 unit mailers out. That’s just not how this works.

Speaker 2:
Well, I mean sometimes I wonder if you… I can find a deal in there. Sometimes it comes down to the person too. It’s about subjective. You’re going to get calls back, do you like them? Did you like them in the end? Did you kind of go, “Ah, you know what, the margins aren’t as good as I thought they were.” Or fill in the blank. Maybe I don’t like that area. After all, one time we had, I ended up ditching West Virginia when I found out that over 80% of them were undivided interests. I’m like, “Duh, got it.” So I just told my team, “Scrap it.”

Speaker 1:
Yeah.

Speaker 2:
Don’t even go there. Don’t even dig. If someone calls back from this mailer, it’s not even worth our time to dig. I’ve got Marked mail going out on Tuesday, hang on. That’s totally fine. I could have got something out of it. I just didn’t care.

Speaker 1:
That’s right. And we are at the point in our careers, clearly, because we’re driving around the country where we only do deals now. Geez, the deals we did two or three years ago even, were pretty dramatically different than we do now.

Speaker 2:
We could do a lot more deals.

Speaker 1:
It’s subjective, this is my point, it’s subjective, It’s what you want it to be. If you’re really young, huge go getter, and you’re comfortable talking to people, you’ve got somebody to do the mail, and you’re happy financing or funding properties with other people in our group are just happy just doing a lot of deals. You have a dynamic personality, you should be just all over the place doing. And that’s the people that are, a lot of the people in career path are like that.

Speaker 2:
You know what else I was just thinking?

Speaker 1:
It’s very different person by person.

Speaker 2:
Remember back in the day before we had Discord and the other communication things, we made a thing called the deal board. And the deal board was for me to put my discards. Because you know what, I constantly have good deals that I’m just like, “Nah, too much work.” “No, I got to chase too many people.” “Eh, I’m not going to make that much money. I’m only going to make 10 grand? Nah, I’m out.”

Speaker 1:
Exactly.

Speaker 2:
So that’s the whole other thing too, is that you just painted a beautiful picture. If you’re young and hungry or young or hungry, you could be, if you’re young and hungry or old and hungry, you can do this too. You can have the yield you want to have, depending on how hard you want to work it, I really think. Cause I know, like I said, I discard so many deals that people would be like, “Why aren’t you doing this one?” No, I just don’t, Don’t want to, I don’t like that area. “But Jill, you could make 25 grand.” Yeah, I know. I don’t, I’d rather be on these, I got these three beautiful ones.

Speaker 1:
We have slam dunks over here.

Speaker 2:
I Got to these one and I got other things going on, so I’m just going to do these three, give them good luck for the next guy.

Speaker 1:
Yep.

Speaker 2:
So that’s why… that’s another reason I think why it’s just all subjective in how you look at it.

Speaker 1:
It’s important to follow the program if you’re brand new, the way that it’s designed. And then after you have a bunch of deals under your belt, make it your own.

Speaker 2:
Yep. I always say that once you’ve done like 10 deals, you know like this and you’ve got, I don’t know, $15,000 in the bank, you’re going to take a step back and start making some different decisions.

Speaker 1:
That’s right. I love doing these deals over here. This one took so much time, I only made 18 grand.

Speaker 2:
Right. I love-

Speaker 1:
That’s learning.

Speaker 2:
I hate doing deeds, I’m now going to do this. Whatever it is, it’s awesome. Happy you could join us today. Five days a week, you can find us here on the Land Academy Show

Speaker 1:
Tomorrow, the episode on the Land Academy show is called Learning How to Run a Business: you Are Not Alone in Your Real Estate Ambition. Such an important part of what we do is learning in the background. Who’s going to manage payroll? I’m not doing it myself. Who is going, and this is what we talk about in Career Path a lot. It’s not just how to buy and sell real estate or complete deals, it’s all this other stuff. What do you do about taxes. How do… This is my tax bill last year, How can I make it less?

Speaker 2:
Right. That’s a really, really good point.

Speaker 1:
We’ll talk about that tomorrow.

Speaker 2:
Thanks. Thank you for tuning in by the way, In case you did not know, Land Academy 3.0 is available and here for you and new in 2022. You like that? So check out land academy.com and if you have any questions, of course, just send a note to my team at support@landacademy.com.

Speaker 1:
We’re Jack and Jill.

Speaker 2:
We’re Jack and Jill.

Speaker 1:
Information.

Speaker 2:
And inspiration.

Speaker 1:
To buy undervalued property.

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