I’m Steven Jack Butala.

I’m Jill DeWit and this is The Land Academy Show.

We are talking about whether or not you have the personality traits of a successful land investor. Every single time, we began a new career path. Right now, we started Career Path time. The very first module is us going around the room and having everybody turn their mics and their cameras on and talk about themselves. What have they done in their lives? From a professional standpoint, what have they done? What are they doing now? Do they own businesses?

Land Academy Member Question

Just the basic overview or profile of the type of person that’s in the class so that Jill and I can instruct the mastermind class in a collaborative way that is meaningful. We’re sending a message to hopefully the recipients so we can instruct one thing, not twenty separate things. What we found after years and years of doing this is that there are some specific consistent personality traits, which we’ll talk about. Each day on the show, we answer a question from our Land Academy member Discord Forum. Take a deep dive into land-related topics, by your request.

Fajita wrote, “Hi. I have no doubt that an application is being developed to estimate the price of any empty land using AI in the United States. I would not be surprised if we see some version of such an application within 36 months. Zillow home estimates at first were not accurate. However, they have improved. Semi-accurate empty land, price and estimates are definitely on the horizon. AI will estimate the price of any American US property regardless of any structures on it due to the availability of public data.”

There’s no question here. There is a statement. I left it for Friday because all five of the shows this week go together. They’re the questions that we get a lot and I believe what this person is saying is true. I want you to process it as a land person or a real estate investor of any kind as a listener because this will happen. I believe it’s going to happen much sooner than 36 months from now. It’ll take it to a much different level. I think what will end up happening is an application will be written that joints the personality and the personal circumstances of a landowner and the actual statistics about the land that they own and gives them some type of rating on whether or not this is a logical acquisition candidate or a very logical seller.

This is already happening, all of this. The more contents of a database for a very specific person, which for us is through profiles and identifying who wants to sell their land. Right now, we send out 100,000 letters. We let the mail do its work. That is the data set. What happens is that the recipient of the landowner or the recipient of the offer chooses themselves as the seller and contacts Jill. We’re reversing it. We’re taking that data and choosing that person without them even knowing it based on the statistics that are going on in their life, and profiling them as a seller. What’s the difference? There’s no difference. The end result is the same. The data chooses that person, or the person chooses themselves. The issue with this like all applications is it makes it more efficient, faster, and cheaper.

It’s going to be interesting. You’re saying like, here’s the obvious. You’re reading the obituaries. We all know what was going on when Grandma was living alone in the house. We got a pretty good idea of what’s going to happen after that. The house is going to be on the market.

Your job and my job is to figure out how you’re going to manipulate this data and utilize it to your financial benefit without breaking any laws and hopefully, ethics.

Your job and my job is to figure out how you're going to manipulate data and utilize it to your financial benefit without breaking any laws and hopefully any real ethics. Share on X

That’s the part, the ethics part, but that’s a whole other topic.

We’ll move on to the question here. When people ask us, “How is AI going to affect the real estate industry?” The question is way bigger than that. The question is, how will computers profile people out of massive databases so that you can manipulate them to do what you want? Who is the most logical to buy a Volvo in the next 36 months? It’s the person who’s been on Volvo’s website for eight hours straight or has consumed Volvo’s content. That’s what Google does. That’s why Google is free because you are the product. Google is one massive profiling machine.

True. Good one.

Personality Traits For Success

As is social media. Today’s topic, do you have the personality traits of a successful land investor? As I said earlier in the episode, Jill and I have the pleasure and luxury of instructing the Career Path class. Right now, we’re in Career Path time. We asked everybody, “Who are you? Why are you here?” Here are some of the traits. I made a list that I brainstormed before the episode so we could talk about it. Persistence. They have that dynamic personality. Nine times out of ten, it’s an absolute pleasure to talk to the people who are on a Career Path and listen to their journey, how they got here and why, what companies they’ve owned, and all of that.

They overcome everything. We don’t have anybody ever in the Career Path that we’ve done who has said, “I’m a victim.” “It just didn’t go this way for me and I’m here taking her class because I want you to fix it for me.” It doesn’t enter into their mind and never has. In this day and age, they have a tremendous amount of comfort and technical. We have a lot of technical people in Career Path, me included, or career salespeople like Jill.

Both of those personality types are dynamic. They get up in the morning and they say, “How can I make this more efficient? I’ve passed my ten deals. How can I get to 100?” I’m going to look at that from a tech standpoint. Jill is going to say, “I got to get on the phone more,” or “Jack, the people who are calling suck. Can you get better and more qualified people to call me because I can close more deals that way?” Patience.

How does it apply to you?

I have no patience for a lot of stuff, the majority of stuff. I have a huge non-patience for computer-driven issues. I’ll sit for hours and hours and work on a computer-driven issue. I have a huge amount of patience for managing money, moving money around, and moving assets and money around a balance sheet. I have a lot of patience for that for some reason. I do not have a lot of patience for talking through problems with people. I think computers don’t have any motivation. Money doesn’t have motivation. It is what it is, but people have.

When you’re in a conversation with the person, they’ve had 50-plus years of stuff that they’re bringing to that conversation and you don’t know what that is. It’s usually bad, not good. They’re open-minded to change. There have been a few people in Career Paths that have come to us multiple times. Now that I’m thinking about it, taking a Career Path again because they can’t get the answer to this question, “I’ve been doing this way for years and it doesn’t work anymore.” The answer to that question is you need to look in the mirror and figure out how your business is going to change or worse, how you have to change to adjust. That’s very tough for some people.

You need to look in the mirror and figure out how your business is going to change or worse, how you have to change. Share on X

What’s great is people don’t care about they are there because they are open-minded to change. That’s why they’re there. They’re like, “I need to know what I’m missing. Let me fix it.”

I’ll never forget a person in our Career Path a lot of years ago who said, “I did it all that you guys said. I sent all the mail out. I priced it, and a lot of people called back. About 2 or 3 people emailed back. I emailed those 2 or 3 people and they didn’t call me. They didn’t contact me again.” Jill said, “Did you call people and arrange a time to sit and talk about it?” “No, I’m not going to talk to anybody.” That’s not a willingness to change. They all have some type of accomplishment.

I’ve said this loud and this environment and certainly in Career Path. Whatever success you’ve had in the past, you will have that buying and selling land. If you fail at 98% of the stuff in your life that you’ve tried, buying and selling land is not going to work. If you have an existing company or you have a history of buying and selling companies and proving them, this is going to be the greatest ride of your life financially because you’re going to consciously apply all that success to this.

Attitude. Jill has a great attitude. Jill wakes up. People have asked me like my friends asked me, “Did she wake up happy like this?” “Yeah. She’s not the problem. I am.” They say, “That makes sense. Organization. We have a lot of people in Career Path, not necessarily now but over the years, who come to us and say, “I made $2 million last year. I’d like to make $10 million. I’m the most disorganized scatterbrained person there ever was.” I love that because we can solve that. I’m very organized. Jill is not as organized.

I’ve changed. I’ve had to adapt and overcome.

My list here is consistent and then Jill is going to take a crack at it.

I love your list. I don’t have anything else to add.

Consistency is hard. Consistency is one of the things I struggle with. Consistency is hard to implement. My only way to address consistency is organizational.

Consistency is really hard. The way to address consistency is organization. Share on X

With the calendar, making it happen.

If I woke up every day and just did what I thought like doing, that would be the end of my career. These are some of the traits, but the one that have to hone in on before we end the topic is whatever is happening in your life, up to the point where you’re trying to buy and sell land or break into the real estate business or continue your real estate career, this will be a continuation of that. You’re not going to see a magical 100. There’s no magic in buying and selling land that makes it easier than buying and selling houses. There’s a different set. There’s a different set of stuff to do.

That’s fair. I love your list. I don’t have anything else to add. I think that was perfect.

Join us next week for five more interesting episodes. You are not alone in your real estate ambition. We are Jack and Jill, information and inspiration to buy undervalued property.