This is episode number 2172. Jill and I are talking about why consistency beats talent and land investing every time. I think consistency beats talent in anything.

That’s true. I think consistency can produce talent.

People are wildly successful at anything that they put their minds to. If they’re organized, they’re willing to criticize themselves and handle fear and failure and just process themselves right through it and have a lot of consistency for results. I don’t care what you’re trying to do.

Remember the Geddy Lee show that you were watching? You got me into it. He was talking about that other girl basis from Hole. She was talking about it wasn’t a natural thing for her, I don’t think. For whatever reason, she picked up the bass, and she didn’t have that much experience when she got into it, but she was a chick, and that’s what helped get her into it. I think a lot of it was consistency.

She fit the part, had the right attitude, and showed up every day.

It’s something she was born with a bass in her hand. It happened, and I think she made it happen, too. That’s my interpretation on the bit that I saw. I just think, too, I know from past members, we’ve had some members that we thought weren’t going to make it, and boy they proved us wrong because they had that attitude and the consistency to stay with it. This’ll be good.

Gross Overachievers: The Power Of Relentless Effort In Business

Jill and I stopped in Northern Michigan two years ago to go to a July 4th party. It was all my close friends from high school, all of whom I realize now I didn’t know back then. All of us are gross overachievers, all of us, every single one. What ended up happening after that get-together as I started looking up other people. I haven’t looked up any on the internet online and what they’re doing, even from grade school.

All of them are gross overachievers. I just got invited to a 60-year-old birthday party from a guy I went to college with. That opened up a whole different Google search for and it’s gross overachievers. Those guys are not smart, I’m telling you, neither am I. I’ll tell you what we are is just if we had a desire to do some stuff good with our lives and make some money. That’s what this is really. 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 popular request.

Navigating Tricky Offers: Seller Financing Vs. Straight Cash In Land Transactions

Matt wrote, “I’ve got a property in the market in blank County, Kentucky, and I have an offer for full asking. The buyer wants to pay $60,000 in cash and then seller carry,” meaning Matt, “The rest with a note and agreement that if I’m not paid in full in twelve months, he would deed the property back and I would keep the down payment.” Unless it’s a million bucks, I’m liking this. “He has a property he’s got to sell back in Arizona. I’m not interested myself, but does anyone here want to carry a first position note for around 50% of the loan devalued with these kinds of terms? No discussion of points or interest rates or anything. I don’t have any credit information, but I have asked what the property wants to sell in Arizona. Also, I know if it’s sellable and maybe if I want to buy it.” I love this.

You do? That’s why I put this in here. I was going to ask you in great detail. What do you think about this?

I like it. For $60,000, that’ll afford me to put it back on the market if I have to and undo anything. I like this. You don’t like it?

Consistency can actually produce talent. Share on X

It’s not the business we’re in.

I know, but that’s true.

The reason I put this in here is Joe Bates.

It was Joe Bates. That’s good.

I hate stuff like this.

I know.

I bought a property for $30,000. It’s for sale for $90,000, let’s say. “Here’s $60,000 cash, but you can keep it if I don’t pay.” Of course, he’s not going to pay.

Here’s my other thought.

There’s going to be this. “I need my money back. Now we’re in a babysitting bill collecting business instead of being amazing acquisition people, which is what you and I are.”

A better thing would be to go to A, the group even wants it. B, the guy should just go to somebody like Rural First and get a traditional loan with somebody else where “Matt, you’re paid in full, and then they deal with the loan later.” I like that.

Managing loans can work for certain people. I have had many loans. Most of the time, it works out. There are a lot of things that go on with seller financing that I don’t like to be involved in, and I think that’s one of the differences in a really good way. One of the differences between you and I. You’re willing to get on the phone and work with the people to a certain degree. This is not.

I already have an idea here, too. What’s the Arizona property worth? Excellent. It’s worth $70,000. He’s trying to sell it. It’s worth $70,000. He’s trying to sell for $80,000. Who knows, whatever. Tell you what, we’ll call it worth $30,000. You give me $30,000 cash and that property, and we walk away. This should be something like that. Everybody’s made whole and “I’ll go sell this thing.” That makes sense to me.

I’ve been doing this for 30-plus years. When people start saying, “It’s a daily thing.” It’s like buying silver in Mexico, buying silver jewelry in Mexico to me.

How many more margarita glasses do we need?

There are people who like to negotiate, and there are people who do not. I do not like negotiating. I like making money. I like buying a piece of property and putting it through a machine like channel and get having it sold and getting more money back. That’s not what this is. I’ll bet you a dollar. This fictitious property in Arizona that the seller has, he’s in the same situation, and now the one in Missouri or in Kentucky, he likes more.

That could be. You might be right.

There’s going to be something else in Kentucky after that.

Made your point.

I’m not saying my way is right. I knew that Jill loved this stuff.

Why? I just had a good solution, everybody. I would like to thank everybody. That’s what I do, though I’m going to take all the information and try to figure a way that everybody’s going to win, and I think I did. If there’s a number that makes sense for the Arizona property to you, Matt and then the guy have to make up the difference in cash. Now we’re good. We’re like, I said everybody wins. Matt, you should feel really good.

Matt, this is a win for you, no matter what. Just pure money. You’re going to win. It’s a lot of work.

There you go.

The Unseen Side Of Success: Beyond Talent To Process And Persistence

I said that to somebody recently on a coaching call. This could work. It’s a lot of work. Did you know what they said? “I like a lot of work. I like complicated deals.” Our topic is Why Consistency Beats Talent and Land Investing Every Time We are Conditioned From Children. We are conditioned from the time that we are children to be good at something and to be good at math and just whatever topics are in school, maybe it’s sports, but what never gets discussed in an academic environment ever is the stuff that goes on that’s associated with being successful.

We have been conditioned since childhood to be good at something. Share on X

If you’re a great basketball player, awesome. You’re going to be a great basketball star. You still have to have a mortgage, and you still have to figure out what’s going to happen to do the paperwork to sign up for this and do an application and the whole thing. It never gets discussed if you’re great at math. What ends up happening is that we get older, we apply for and get jobs that we all end up hating really soon. You find this out around your mid-twenties. After that, you start to say, “This is not what I expected. This is not the life I want.

My parents are awful for not telling me that this is the reality of things. My teachers forget it.” That’s why they went and chose teaching because I don’t have to deal with reality. That’s what academia is. They’re just the student now on the other side of the room forever. What do you do? You say things to yourself like this. “I like baking cookies. I have my grandmother’s recipe. Everybody loves these cookies. They’re the first thing to go in any potluck that I’ve ever been to. I bring them to people’s houses.

They’re gone within five minutes. I’m going to start a cookie business.” They have no idea what’s involved in that. None. That’s why there’s such a high rate of failure with startups and business acquisitions. Every time, I haven’t watched a lot of Shark Tank. In fact, most of the times I’ve ever seen it, I’m just looking over Jill’s shoulder. Every time somebody stands up there and pitches a product, there’s an old guy or an older woman with gray hair standing in the back and being quiet. The product is pitched everybody’s lukewarm on it.

The whole panel is lukewarm on it, like they always are, and so the person with the gray hair says, “I did two of these before. We sold it to XYZ private equity company, and this is what we got on our exit.” Every single person now is bidding against each other to be involved in the company because they don’t care about the product. The product is insignificant. Your personal talent is insignificant. What matters is they’ve been through the process. They know the trials and tribulations of raising money and getting in how to work life balance and what they’re going to say to their wife when they’re not going to the thing they were supposed to go to socially that weekend. That’s what having a business is.

The Long Game In Land: Cultivating Success Through Daily Habits

I was thinking about, isn’t it Michael Jordan. I have Arwood and Tiger Woods and Michael Jordan. Correct me if I’m wrong, and I’m sure there’s a laundry list of many more that I cannot think of that part of their whole thing was how much they practiced over and over.

That is Kobe Bryant.

I’m trying to remember who.

I’m sure of all of them.

I’m sure all of them have that.

Sure.

It’s rare to wake up and go, “Ping, I can hit a baseball. I never practice. I’ve got it.” That’s rare. Most of the time, we don’t hear about it. We only hear about the successes, but we don’t hear about the failures. Later on in life, they write books about their failures or they share it later on like how many hours they spent before practice and after practice on their own hitting those free throw shots and all of that until they got good.

Most of the time, we only hear about the successes. We don't hear about the failures. Share on X

It’s like that. I think in our world, maybe I say showing up early and staying late. Maybe you do. I’m not sure what it is. I’m going to say the average person watches our education program three times and usually go through it quick. You go through it, and you pay attention to it. You go back into it, and you’re like, “These are the places I know I need to study going on.”

I’m going to throw in there if you’re sharp. Once a year, you go through it again. You really should. You’re going to look at it because things didn’t change, but you changed from now, and now you’re going to pick up on things you didn’t pick up when you first did it. That’s a valuable thing, too. I should bring it up on our member call. Maybe the average is 3 to 5, but maybe I need to watch it ten times. Flippin’ what? Nobody knows.

I’m not watching this.

You don’t get an award for doing it once and doing that. You are learning every time, and you’re picking up on more things. Consistency in meeting talent is like putting in the time and putting in the work for me, and you will get yourself there.

You have natural social talent no matter what you do for a living. It’s going to shine. The reason that you make so much money doing it, Jill, is because your implementation of your talent is consistent.

Do you know what part of it is for me, by the way? You and I didn’t like, “We got this land business.” Flicked and walked away and just like stay out of it. I stay in it and I know you do too. There are many parts of our business that I don’t have to get involved in, but I do. Do you know why? Part of it is because of Land Academy. I want to stay fresh and stay current not only for our members but for my brain. When we go to a new area, and I don’t know anything about this area, I’m taking those calls. I’m going to learn the area, too. I’m going to use this at some point for coaching and for all the other things that we do. It’s just who I am. I just like to learn.

There has to be a motivator in your soul at the deepest darkest place in your soul, some type of motivator for the decisions that you make. For me, it has always been, as long as I can remember, not working for anybody else, and it’s not because I don’t like people or any of that that some of that might be true. I just cannot stand the idea of somebody else controlling my time. I did then and now whatever it takes.

I don’t care what it is. Whatever it takes. It might be working twenty hours a day. I don’t care. I’m going to do that, and I might make no money for five years. I’m writing a book about how we all got here, and it’s more than halfway done. I’m realizing, looking back and writing this, that I was doing whatever it took to never work in a restaurant again. It’s not a restaurant just ever work in any environment like that again. It meant in the end to be organized and consistent.

That is good.

Join us tomorrow, where we will discuss what a recession could mean for land investors and how to prepare. You are not alone in your real estate ambition. We are Jack and Jill. Information and inspiration to buy undervalued property.