Land Academy Unimaginable REI Group Success So Far (CFFL 0189)
Land Academy Unimaginable REI Group Success So Far
Jack Butala: Land Academy Unimaginable REI Group Success So Far. Every Single month we give away a property for free. It’s super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don’t even have to read it. Thanks for listening.
Jack Butala:
Jack Butala for Land Academy. Welcome to our Cash Flow From Land show today. We show you how to buy property for half of what it’s worth and resell it the next day. Great information from Jack, that’s me.
Jill DeWit:
And inspiration from Jill, that’s me.
Jack Butala:
Here’s some funny stuff that’s happened to us recently.
Jill DeWit:
Talk about reach.
Jack Butala:
I love reach.
Jill DeWit:
I love it. Talk about reach. I was looking through Success Plant, that’s our online communication forum, and I saw a guy asking about if our strategy will help him buy villas and Arabian ranches in Dubai. I’m not kidding.
Jack Butala:
No, I didn’t see that at all.
Jill DeWit:
And he was really going, “Hey, how well does this work?”. And it was really kind of funny. He’s like, “I travel all the time there.” And one of our other members piped in and said, “Yeah, this does work. Send them all a letter.” It was the funniest thing.
Jack Butala:
I wonder if he can get ownership data. That’s the whole key.
Jill DeWit:
In Dubai. Isn’t that hilarious? Can you imagine writing a letter to all the sheikhs?
Jack Butala:
No. No, I can’t.
Jill DeWit:
You’re hitting up all these sheikhs. I bet one of them would say yes.
Jack Butala:
I bet there’s be some security issues if he sent some low-ball offers to a lot of people in Dubai.
Jill DeWit:
How cool. That’s very funny. Yes, but don’t make them mad.
Jack Butala:
That is funny.
Jill DeWit:
Is that hilarious?
Jack Butala:
Every once in a while I get a question like that, like does this work in another country? And so. Hey, somebody send some letters out in Dubai and let us know.
Jill DeWit:
I know. I’m thinking how cool is that. You can walk around saying, “I bought something from a sheikh. I bought a piece of property from a sheikh.”
Jack Butala:
Or sold one to a sheikh. We have sold a lot of property to people from that part of the world.
Jill DeWit:
Yes, that’s true.
Jack Butala:
Hey, in this episode, Jill and I talk about the unimaginable REI group success we’ve had so far. So great show today, I just have a smile on my face saying that sentence.
Jill DeWit:
Good.
Jack Butala:
So, before we start, lets take a question posted by one of our members on successplant.com, our free online community.
Jill DeWit:
Okay. JP wrote, “Just wanted a quick reminder, if anyone can recall, how much is it that Steve says we offer on a forty acre parcel? I know for five acres we offer five hundred dollars, which is a hundred dollars an acre. Is a hundred dollars an acre for a forty acre okay? Just wanted to make sure I stick to the formula because it’s been working.”
Jack Butala:
Nice.
Jill DeWit:
Right? “There’s a forty acre parcel available with back taxes on it. So at a hundred dollars an acre that’s four thousand, and I didn’t know if that was relatively high or low. Where should I be with my initial offer?”
Jack Butala:
JP, we all know you and love you and you are right on, but I am going to make this comment. You are right on for property that is West of the Mississippi within reason. Lately, a lot of people in our group are having a ton of success. There are more and more, and rightfully so, asking for hard, fast, square engineering-type solutions and answers to some of these things. I have to tell you, there’s some art to this to. You can’t just say a hundred dollars an acre across the board. It goes up and down, and you really have to sit and study it.
We have, Jill and I, have combined thirty-forty years at this, so I can look at a list and say, “Yeah, I just think this is going to work, or this maybe not, or we have to adjust it this way.” I know people at this are relatively new and I can’t give you a hard and fast answer, but a hundred dollars an acre in some of these Western states is a great gauge. What I would recommend on pricing, is that you spend a tremendous amount of time in place like landandfarm.com and landwatch.com. We have no affiliation there at all, and see how stuff is priced before you send the mailer out. It takes some research and some time.
We have one member who is having a tremendous amount of success in Georgia, and she didn’t send out offers for a hundred bucks an acre at all. She sent out very few offers, which I don’t recommend, but she price them properly based on a bunch of research and she is doing great. My suggestion is do some sales research, and if you do come up with at hard and fast equation, let me know. It’s tough to do. It’s an algorithm based thing and I have yet to conquer it myself.
If you have any questions or you want to be on the show call (800)-725-8816. Today’s topic: Unimaginable. Land Academy and Success Plant are having unimaginable REI group success so far. Jill, did you ever think it was possible?
Jill DeWit:
Yes.
Jack Butala:
I know you did.
Jill DeWit:
Of course I did. No, I’m so excited. I’m working on our own group right now so, that’s coming. I’m excited so –
Jack Butala:
No, I mean Jill and I have been incredibly successful at this. She just purchased, what did you buy yesterday? Four five acre properties, I think, from a trust and two sisters? I the Needles area in California for very, very little amount of money and they just wanted to get rid of them. They were all getting older. That’s our business model, so I’m not taking consulting calls. It’s called Deal Review with me, Jack, and I’m not plugging this I’m taking a lot of calls directly from our members and they are asking me, “Hey, should I do this deal or shouldn’t I?”. I’m on the front lines now with some of our members, and seeing what they’re coming up with, and it’s amazing.
Jill DeWit:
Awe, I love it.
Jack Butala:
The other thing too, that’s a real good connector between us and our members is the Platinum Sellers Club now. Because our members are submitting all these properties to us that go out every Wednesday, and that in itself is great, but I’m looking through these lists going, “Oh my gosh!” We’ve got probably eight lists in this week. This is the first week we are doing it. The number of entries and the quality and the pricing, it just makes me liquid proud.
Jill DeWit:
That is so cool for somebody who is not in our world, and thinking about getting into our world, they should be looking at this list. Because what’s coming out on our Hump Day Special this week, and every week going forward, is a large percentage of our members properties that we are letting them put on our list.
Jack Butala:
Right.
Jill DeWit:
You can scroll down the list and see who it is. It goes out to our people, but it’s got links back to all of their websites. Talk about cool. You can look at what these people are buying based on what Jack and Jill have helped guide them to do.
Jack Butala:
Right, exactly. If you want to get on the list it’s super simple and it’s free, as a buyer not a seller. As a buyer, you just go to landstay.com and download the Platinum Buyers Club.
Jill DeWit:
Just sign up for it.
Jack Butala:
Just sign up for it. Yes, there’s nothing to download.
Jill DeWit:
Just put your email in there and you’re on the list.
Jack Butala:
And you’ll get it every Wednesday.
Jill DeWit:
Yes, it’s awesome.
Jack Butala:
The other thing that I did, and I did this because we’ve been very successful with it, is I asked everybody to include their sold properties. Because it lends a lot of credibility. That’s what prompted me to do this show today Jill. The number of sold properties on there is amazing. If you are wondering if this is successful, or how it works, get on that list and you can just judge for yourself.
Jill DeWit:
Exactly. I’m excited. It’s fun.
Jack Butala:
This is the Technical Ten. The Technical Ten minutes of property investment advice from our fifteen year, fifteen thousand deal experience. Today’s topic: assessed value has nothing to do with pricing a mailer. How did I come up with this topic? Lots of people have been asking me, so I’m priced this above assessed value, this above- So this is with the source of the confusion Jill. What I say when we price a mailer in our educational programs, all of them, is take a look at assessed value and base which mailers you send out, which owners you actually send an offer to, based on assessed value. Now, I don’t mean price it that way, I just mean choose them. When you look at a whole assessor’s database, which is all the property owners who own everything in the whole county, it’s a huge database. How do you choose?
The first thing I do is I cap the assessed value, at a certain point. You do not want to send relatively low offers to a really high assessed value. But I think, somewhere along the line, that got translated into assessed value is how I price it, and that’s just not the case. We personally in the Western states, this is not for vacation property in the East, I cap it at about everything at about fifty thousand dollar assessed. The rest of the whole database I just don’t even download it. From there we keep scrubbing down and scrubbing down. An assessed value has nothing to do, I don’t care where you are in the country, absolutely nothing to do with pricing.
You set pricing through comparison values. Is there an absolute, scientific way to do it? No, you have to do a bunch of research, and see what’s going to be acceptable. And send your offers out at somewhere for land somewhere for around forty percent or less for what you think you can sell it for. That’s not what you think the retail value is, that’s what you’re going to sell it for and you should be selling for way lower than wholesale.
Jill DeWit:
Oh, gosh yes.
Jack Butala:
Sound confusing? It’s really not. Every single detail is in our Cash Flow From Land program. Hey, if you have any questions or you want to be on the show, this is ending up being the Jack without Jill show. You have any questions or want to be on the show, call (800)725-8816. Now it’s Jill’s turn.
Jill DeWit:
Okay. All right.
Jack Butala:
Do you have some inspiration?
Jill DeWit:
I do. You know what I do. Well, today is more of a parental pride moment. I hope that everybody has that moment of parental pride. And I was going to share one that I read today from one of our members, because it is the coolest thing. They sent out eight hundred letters, not that many, but it’s okay they were just getting started. They sent out eight hundred letters, they bought two properties and the first one just sold. They were all in, it was so great. They put the exact numbers, a thousand forty eight dollars. It’s a five acre and they sold it for thirty five hundred dollars. And this is my, parental pride was the statement, their goal is, they are like, “Oh my goodness, I’m so excited,” if I can do two of those a month, my wife can quit her job.
Jack Butala:
Oh my God. That’s what I’m talking about Jill.
Jill DeWit:
Right?
Jack Butala:
That’s what I want to hear.
Jill DeWit:
That’s inspiration for me. Period.
Jack Butala:
Me too. We all know I’m a little bit type A nuts, so I want to go at it like, this company is going to be Coca-Cola in two years. When your wife can quit her job, that’s the place to start. After that, you keep moving forward, because now you’ve got an extra hand in the whole thing.
Jill DeWit:
Exactly.
Jack Butala:
That’s really the way to look at it, step A to B to C.
Jill DeWit:
Well, there’s a farm in their picture, so they are using this to have the life they want and that’s it. I mean, talk about cool. That just, it gives me goosebumps thinking about it so-
Jack Butala:
That makes me feel proud too.
Jill DeWit:
My inspiration today is a personal inspiration, and I hope that everybody has something like that going on.
Jack Butala:
We have a member named Josh doing the same thing. He’s constantly, for whatever reason, through all different types of venues reports back to me, because he and I have some kind of mental connection I’m convinced now. He’s like, “We’ll I’m up to two thousand dollars, now I don’t have to pay my mortgage.”. He’s got that whole thing. He has that A to B to C thing about it.
Jill DeWit:
I love it.
Jack Butala:
He’s going to get to ten-K a month. He’s relatively new too.
Jill DeWit:
That’s pretty good. We need to have him diary this out to share like, here’s month three where I’m at, month four where I’m at. That’s awesome.
Jack Butala:
We have a member who, I don’t speak with frequently at all. He just pops his head out of the sand and reports some crazy stuff. He’s a former day-trader, semi-retired. He’s like, “Yeah, I made thirty thousand on that,” and then he pops up. You know who I’m talking about?
Jill DeWit:
It’s hilarious. Yes, I do. Exactly.
Jack Butala:
It’s almost like he’s saying, “Great concept, but you guys are horsing around with this little stuff while I’m over here killing it.”
Jill DeWit:
Exactly, and that’s fine.
Jack Butala:
It is fine.
Jill DeWit:
That’s the beauty too. Take it to whatever level you want to. You know, what you’re happy with. A couple deals a month and your wife can quit her job, or you want to kill it and this is your world. It’s all good.
Jack Butala:
If that’s not inspiration, if that’s not what this little segment of this show is all about, then I don’t know what is.
Jill DeWit:
Thank you.
Jack Butala:
Join us in another episode, where Jack and Jill discuss how to use information, that’s me.
Jill DeWit:
And inspiration, that’s me.
Jack Butala:
To get just about anything you want.
Jill DeWit:
We use it everyday to buy property for half of what it’s worth, and sell it immediately.
Jack Butala:
Get there first. Good show Jill.
Jill DeWit:
That was kind of a technical show, I think. I think our technical people will like it. The was a lot of numbers and a lot of-
Jack Butala:
Yes, and you know what I’m learning?
Jill DeWit:
What’s that?
Jack Butala:
Our people are technical. I’ve been running the numbers and running the numbers and running the numbers on all kinds of stuff and I just think that-
Jill DeWit:
You don’t have to be technical though.
Jack Butala:
Yes, you don’t have to, but-
Jill DeWit:
I’m not technical.
Jack Butala:
I know, but I am.
Jill DeWit:
You are, so there you go. You don’t have to be technical, but if you know where to find people who are technical, if you have a technical question, then you’re okay because you have us. We have you. You have Jack.
Jack Butala:
Yes, that’s what Success Plant is for.
Jill DeWit:
Exactly.
Jack Butala:
Let’s go buy some property for half price.
Jill DeWit:
All right, then let’s sell some property for double.
Jack Butala:
Jack and Jill.
Jill DeWit:
Information and Inspiration.
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