Providing Information Instead of Directly Selling (LA 1418)

Providing Information Instead of Directly Selling (LA 1418)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Happy Friday.

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

Jill DeWit:
And I’m Jill Dewitt broadcasting from sunny Southern California.

Steven Jack Butala:
Today. Jill and I talk about providing information instead of directly selling. I always save the Friday shows for the week. The one that’s my favorite.

Jill DeWit:
Oh, I like this. This is good. Cool.

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.

Jill DeWit:
Sandy wrote, “When analyzing counties, what is a good substitute for Redfin properties sold for the counties that are not listed on Redfin? Thanks so much.” Sandy.

Steven Jack Butala:
Great question. Here’s how it works. You can get data all over the place. Realtor.com is a great place to go to get visual data. They don’t have a good download function at all, and that’s for good reason. They just want you to look at it. They don’t want you to manipulate it, which is understandable because they own the MLS. The real estate environment in the entire country is made up of about 344 separate little MLS’s. So Phoenix has like two and then Arizona, I’m just picking on Arizona because I know, there’s, I don’t know, eight or 10 more in different regions. And some of them choose to participate with Redfin and some of them don’t and inevitably, most of the urban counties that choose to participate. So what do we deal in? Rural real estate.
So Redfin doesn’t cover everything. Redfin has fantastic data and the download capabilities are amazing. And the data that they share is truly open source. We use it every single day in some capacity, I’m on there looking at analyzing counties or if we’re buying stuff, whatever. So, but it’s spotty. The coverage is spotty. Zillow has amazing data, but it’s also, it’s got holes in it. So what do you do? You use them all. And I can almost guarantee, and this is the takeaway on this, that two months from now and certainly a year from now, some other great source will pop up that’s downloadable and fantastic. Jill and I are licensed providers. LandAcademy is licensed providers for DataTree, which is an amazing place to get data. It’s not entirely free, but I’ll tell you, when you get it, it’s right. And TitlePro, which is Black Knight. And then RealQuest, the three major professional data providers, the ones that I mentioned before are applications on the internet that are kind of designed for everybody. So in some capacity, I use those all the time. As a LandAcademy member and I’m not selling anything here at all. It’s providing information because that’s the name of the show. We provide all that. And it’s hard to lose when you have that much data power behind you.

Jill DeWit:
Yeah. You don’t rely on just one source is the point. Even and we do that, like you talked about that often when you’re picking counties, that’s, I’m sure that’s what Sandy is doing here doing the red, yellow, green test. So when you’ll pull up this resource and you’ll double check it with that resource. And I do that, even with doing my due diligence, I’ll look a couple of different places sometimes to confirm what I’m looking at is right.

Steven Jack Butala:
When you look at two data sources in general, I’m asking you for real. How often do you find discrepancies?

Jill DeWit:
Not very often.

Steven Jack Butala:
Me, too.

Jill DeWit:
It just makes you feel good.

Steven Jack Butala:
And when you do, it’s like, “Okay, well there’s a problem.” There really is a problem.

Jill DeWit:
Exactly.

Steven Jack Butala:
Today’s topic, providing information instead of directly selling. This is the meat of the show.

Jill DeWit:
Okay. So this is about selling land and I would argue that it shouldn’t be this hard. And that’s why we wanted to talk about this today. And like Steven just said, he gave a different situation earlier in the week about providing information when he was talking about, was it a used car guy or even just, we were talking about real estate people that we chose.

Steven Jack Butala:
Just agents.

Jill DeWit:
They were providing information as a way for us to, like, they wanted to get us as clients, build trust with us that way and get us as clients. So this is a little bit different. I want to talk about providing information when you’re selling a property. You’re posting and your description of the property and the actual property itself and the price should be so transparent and clear and wonderful that there really isn’t much selling to do. That’s really how it should go.

Steven Jack Butala:
Well, said. That’s a great opener, Jill.

Jill DeWit:
Yeah. And people go, “What are you talking about?” And I can prove this because not only do we, but I have hundreds of people with me in LandAcademy that have people in middle of the night, they never even talked to them. They check out, put their credit card in and buy a property. And there’s no talking about it. The next thing a page pops up in that and they fill in what their deed information is, how they want the deed done. And the deeds in the mail. You can have a transaction like that, that there’s just no talking. And that’s the perfect scenario. So, when people do call, because sometimes they do and I’m dealing with a lot right now, as a matter of fact, I’m actually personally involved. I have some transactions that are going directly to my phone because I want to sell these babies. They are kind of mine. And it’s so easy. When the calls come in, all I’m doing is making sure they’d… Usually they see the posting. That’s how they found me. I’m just reiterating the reason why I fell in love with the property, what the attributes are that I saw, hey, this one’s mobile friendly and cannabis friendly, whatever it is and why it’s such a good deal. That’s really, I’m not really selling.

Steven Jack Butala:
The deal should speak for itself. In fact, I’ve put that on signs in the past, in really rural areas, putting up a sign, believe it or not is I still a great way to sell property because people that are around there have real estate or live around that land are very… There’s a high degree of percentage that they’re going to buy it. So if you say, 22 acres for sale, call this number, the deal speaks for itself. You’re going to get a huge response on that sign. That’s my point here. These deals… We don’t do a deal unless it speaks for itself. If we have to sell it, really sell it, hard to get it, she’s got to get on the phone as well as stuff, we won’t buy it.

Jill DeWit:
We won’t. Yeah, yeah. Or we won’t buy it or it’s just going to be a problem. So usually when they’re calling too, by the way, they’re calling now, all you’re really selling is you. You’re not selling…. If you did it all correctly and they pick up the phone and call, now they’re confirming you’re a real person and try to figure out how easily the deal is going to get done.

Steven Jack Butala:
Right.

Jill DeWit:
That’s really kind of it and they want to make sure you’re not a nut and it’s going to be an easy transaction. The goal here is to make sure that you are properly relaying, whether it’s on the phone or in the posting, everything about the property. If they call, you just want to make sure they’re a good fit. If they’re a hiker, you’re not selling them this infill lot. And if they want an infill lot, you’re not selling them this 20 acre parcel way over here. That’s not what they want. [crosstalk 00:07:23].

Steven Jack Butala:
Or farmland.

Jill DeWit:
You’re trying to find out because what are you… This property is great for ABC and D. That’s what you should be saying. They’re going to go. “Yippie kai yay. That’s what I thought. That’s exactly what I want.” That’s how you want it to go. And if you say this property is good for ABC and D, they go, “Oh, shucks, I don’t have four wheel drive and my wife would never do it. I didn’t know it was that far away.” It’s not a good fit. Let’s move on. That’s how it should go.
And here’s my last point. And we can talk about this. If you sell somebody, you’re like hardcore, “Next person that calls me on this property, watch me. I’m going to sell them. They don’t even know it, but they’re going to buy it.” If you sell them something that they don’t want and they don’t need, it will come back. Last thing you do is want to hard sell them on the phone and just tell them everything they want to hear. “Oh, sure. I’m sure you’re Smart car can make it there.” Can you imagine?
“Sure, just head on out there with a picnic and your Smart car, it’s going to be great. Have a good time.” And they get out there and go, “What the heck?” That’s not going to work. That’s never going to happen. And especially, you sell them on this. They give you the money and they drive out there in their Smart car. They’re going to be pissed off at you, calling you from the property, from the first place they got cell service yelling at you, going, “This is not what I wanted.” And you get to undo all that. You don’t want to do that. You want them to be thrilled about this. You want them to go out there. And because a lot of our transactions as us, people don’t believe this happens, but there’s so many transactions that we always buy them sight unseen, but we even sell them sight unseen so that’s another reason we got to make it have good pictures and everything. You want them to go out there and go, “Yep. This is exactly what I thought it was. And actually, as I’m standing here, the view is even cooler than the way I thought it was going to be. Well, the pictures didn’t properly convey how cool that stream is.”
By the way I have a property yesterday… Let me throw this in here. I didn’t even know that this guy called me, he’s going to buy this. It’s hilarious. We’ve talked three days in a row, his uncles and [inaudible 00:09:30], I’m sure they’re just moving money around at this point. He’s like, he’s the one that’s so good at mapping and said, “By the way, there no fence, that was the one down the road. I know where yours is.” And he said, “There’s kind of like a stream on this.” I’m like, “That’s even better. I didn’t even know there was a stream on there. I love it even more now.”

Steven Jack Butala:
Now, he’s providing information to us.

Jill DeWit:
Totally.

Steven Jack Butala:
That’s done. When that happens, we’re all done.

Jill DeWit:
Exactly. Yeah.

Steven Jack Butala:
You want to give all the information. You want to tell a little story about potentially what’s possible, and then you want to shove it out there in the world and whatever… This is how we buy property too, and have it come back, have the person that choose that property, not the other way around. You don’t go choose the property that’s going to buy the property, the person that’s going to buy the property, that person chooses that property. And then they call Jill and make sure we’re not crooks. It’s that. And the same thing happens with acquisitions. And this didn’t happen on accident.
If you look at our template mailer on O2O on offers to owners, which it’s free, you can go download it. That template really informs the person who already owns the property. It’s very specific. “Hey, Mr. Jones, we’re interested in buying your 5.23 acre property in XYZ County. Looks like you purchased it in whatever date. We’re interested in buying it for X.” And then we’d provide more information about ourselves. When somebody gets that, you have to open it and read it, like, “How did these people know all this stuff about this land that I own?” And so that’s what a mail merge is for so you’re providing… A lot of people, call us back and say, “How the heck did you get this information? And I looked it up and you’re right. And you know more about the property than I do. How’s that possible?” That is a really a great first impression that you care enough, instead of doing what I see everybody else do on the internet with land, “Hey, Mr. Jones, I want to buy a property in Cochise County.”

Jill DeWit:
If that. Sometimes it’s really neutral.

Steven Jack Butala:
Like I want to buy a property.

Jill DeWit:
Exactly.

Steven Jack Butala:
I hear current occupant. Yeah. By the way, there’s no current occupant on land. Yeah. So it really, these details-

Jill DeWit:
That’s funny.

Steven Jack Butala:
These details really matter.

Jill DeWit:
That’s actually a really funny.

Steven Jack Butala:
Smart car.

Jill DeWit:
You like may Smart car?

Steven Jack Butala:
If you have a Smart car, call me and I’ll put your Smart car in my F450, and go look at the property.

Jill DeWit:
Yeah. Take that out there. Roll it in the back of a real truck, a real car.

Steven Jack Butala:
You’re still the girl for me.

Jill DeWit:
It’s awesome. Yeah. And the right buyer too, by the way, is not going to say, “You’re not going to meet me there?” Why, what is the point of that? Yep. There it is.

Steven Jack Butala:
You know what else cracks me up about perc tests. So this is a big thing now. I don’t know why. It never was in my whole career. And for the last year. If someone’s interested in a piece of land and they ask you if it percs, just hang the phone up. [crosstalk 00:12:35] And here’s why, because they can go out and do a perc test themselves. They can do all… That’s what I would do. We would do all this stuff and then we would call a person and say, “How do you want to do this deal? Let’s get it done. I did already did all my due diligence. And it took two days and I’m ready to buy it.”

Jill DeWit:
Yeah. That’s the way it should be. You do your research ahead of time. If you’re buying a car, you do your research. You know what the gas mileage is, you know how far the electric range is and that, and then you go into buy it. You don’t… I’m with you. We’re on the same page, babe.

Steven Jack Butala:
Yeah.

Jill DeWit:
Happy you could join us today. Five days a week, you can find us here on the LandAcademy Show.

Steven Jack Butala:
Join us next week for another interesting episode. You are not alone in your real estate ambition.

Jill DeWit:
I was trying to think of a, I was really trying to think of a car, a car that is not easily, you can’t easily traverse over a lot of terrain and Smart car came to mind.

Steven Jack Butala:
We know now more than ever, you can get the vast majority of questions or information that you want about anything on the internet. And then it just becomes finding, doing the deal. You don’t walk onto a car lot and say to the sales sales guy, “So it doesn’t have air conditioning? What’s the towing capacity?” You should know all that stuff. You just want to go in there and get about the right price.

Jill DeWit:
Right.

Steven Jack Butala:
It’s information. You just… All this information is available. There’s, the salesman, which is, the further we get into this information age, the more it’s just, I love it.

Jill DeWit:
It’s easier.

Steven Jack Butala:
Yeah. For smart people. It’s just great.

Jill DeWit:
It is. It’s true. I think my Vespa tires, do you think things are bigger or smaller than that on a Smart car?

Steven Jack Butala:
I don’t know. I don’t know anything about those Smart cars.

Jill DeWit:
Isn’t that funny?

Steven Jack Butala:
I mean, I love the fuel efficiency.

Jill DeWit:
I think my Vespa tires are bigger. I’m going to check it out.

Steven Jack Butala:
I’m not knocking Smart cars. I think it’s great for the environment and all kinds of stuff. It’s just not the right vehicle to live in a rural county.

Jill DeWit:
No. If I lived in downtown San Francisco, I’d have a Smart car, right? Because, or no car, that’s even better. Thank you for tuning in. We hope you find our content valuable and we appreciate your support. If you haven’t already, please check out our YouTube channel and hit the subscribe button. And please give us some feedback on the shows you love.

Steven Jack Butala:
We are Steve and Jill information and inspiration to buy undervalued property.

—————————————-

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Why Test Mailers Do Not Work (LA 1417)

Why Test Mailers Do Not Work (LA 1417)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Howdy.

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 why test mailers don’t work.

Jill DeWit:
Do you want to describe a test mailer first? Or do you want to …

Steven Jack Butala:
Yeah, sure. A test mailer … Before we get into all of this though, will you please tell me the story?

Jill DeWit:
Oh.

Steven Jack Butala:
Jill was telling me a story about a deal we’re doing, and the seller is …

Jill DeWit:
Oh yeah, I came running downstairs.

Steven Jack Butala:
I said, “Save it for the show, save it for the show.”

Jill DeWit:
Yeah, because this seller … It’s one of those run to the bank deals, but I had a talk with this guy and his background is amazing. I’m like, “I want to get to know this guy.” This happens sometimes, you almost make friends with them. I remember one time I had this guy that was bugging me in Orange County, “Come over, my wife will make you dinner.” It was so cute.

Steven Jack Butala:
So earlier in the week we had shows about building relationships with buyers and sellers, that’s what this is.

Jill DeWit:
Exactly. So this guy, his name is Ed and he raised … I don’t know how we got on this topic but it happens. He would race motorcycles for 40 years, it was really cool. He was telling me the story about when he stopped racing. He was 60 years old, still racing, if you can believe that. He was of course … It was his grandson’s birthday, and Grandson wanted to race motorcycles with Grandpa. And then Grandma got on the phone too and confirmed this whole thing. And she’s just so chill. So it was funny because-

Steven Jack Butala:
Got on the phone with you?

Jill DeWit:
Yeah, we were all talking on the phone.

Steven Jack Butala:
Jill, this is hilarious.

Jill DeWit:
It’s the cutest thing. So anyway, Grandpa tells the story that he was racing with Grandson and he had an accident. He missed a jump somehow and tweaked his shoulder, but good. And Grandma’s like, “Oh, that’s just what happens.” The reason I brought it up because I … So we were talking, he’s telling me this whole story, and then Grandma gets on the phone, because Grandma’s the one who was doing the deal with me but Grandpa had some information. Anyway, Grandma gets back on the phone. I said, “You know what? I understand, because this one, Steven,” I said, “My sweetheart used to race superbikes back in the day.” And we were talking, I said, “And thank goodness, when kids came along he decided [inaudible 00:00:02:10]. She’s like, “Oh yeah, mine didn’t do that. No, I live that life.” And she’s like, “Yeah.” And she just tells me, “Yeah, he didn’t tell you he was doing it with his grandson because his grandpa wanted to do that with Grandpa on his birthday and that’s the day that Grandpa had the big crash. But everybody’s okay.”

Steven Jack Butala:
The big crash.

Jill DeWit:
The big crash. And, “Grandpa’s fine, but Grandpa took how many months of recovery and surgery for his shoulder.”

Steven Jack Butala:
Oh geez, surgery?

Jill DeWit:
Uh-huh (affirmative). I’m like, “Oh, man.” And Grandma’s totally chill about it, it’s like, “Yeah, this is what happens, that’s my life.”

Steven Jack Butala:
Well, that was … For every big surgery there’s a lot of falling off.

Jill DeWit:
Yeah. Oh, I can’t even imagine, so what kind of life she led. It was so funny, because I’m on the phone with him, I’m looking him up. I’m like, “Wow, there he is.” In Motorcycle World, I’m-

Steven Jack Butala:
Is he a BMX?

Jill DeWit:
No, motorcycle.

Steven Jack Butala:
Superbikes?

Jill DeWit:
Not superbikes. I want to say off-road stuff.

Steven Jack Butala:
Yeah, BMX.

Jill DeWit:
Yeah, okay, is that what that is? So that is not bicycle?

Steven Jack Butala:
Right. Yeah, that’s what I meant.

Jill DeWit:
I thought BMX was bicycle.

Steven Jack Butala:
I think it is, you’re right. Here we’re all superbikes.

Jill DeWit:
Okay, yeah. Anyway, it was really, really … You mean motocross?

Steven Jack Butala:
Yeah, motocross.

Jill DeWit:
That’s it. Because they were talking about a cross country race him and a guy won, I found this article. As I’m talking, I’m like “This guy’s legit.” It was really cool. Anyway …

Steven Jack Butala:
So tell us about the deal.

Jill DeWit:
It’s great. I [inaudible 00:03:33] think about the deal.

Steven Jack Butala:
I looked it up. I know about the deal, let me tell you.

Jill DeWit:
Yeah.

Steven Jack Butala:
It’s about 30 miles from a suburb of most attractive city, one of the two or three top attractive cities in the country. It’s 2.35 acres with structures all around it. It’s got [inaudible 00:03:56] foundation. So we’re going to buy it for I think 3,400 or 2,400, one of those, and it’s probably worth 25 wholesale, wholesale, probably more.

Jill DeWit:
Yeah, it’s just a cool deal.

Steven Jack Butala:
And you don’t have an idiot seller like yesterday and it’s just a bang, bang, bang, probably buy it, probably buy it. In two weeks the whole thing will be done.

Jill DeWit:
I forgot … Oh, it doesn’t matter.

Steven Jack Butala:
No-

Jill DeWit:
No, you’re all good. No, it’s all good.

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.

Jill DeWit:
Nate wrote, “I own a parcel out in X County, California.”

Steven Jack Butala:
You can say it.

Jill DeWit:
Okay. “Kern County, California, and currently have a terms customer. My terms client was out of the parcel this week and noticed a large X shape mark probably spanning five feet by five feet. It’s bolted to the crown with metal nails to keep it in place and marked panel six.” What the heck is this? Is this a target for somebody to drop from the air on, practicing skydiving?

Steven Jack Butala:
I’ll explain it.

Jill DeWit:
Okay. “This is land that I own, and I haven’t been made aware of this by anyone, nor has anyone asked permission to do this. Wonder if anyone in this group has come across this before. Any thoughts on one, what is this? And two, how to resolve it? Thanks in advance.”

Steven Jack Butala:
There’s a lot of people that piped in on Land Investors.

Jill DeWit:
It’s so funny.

Steven Jack Butala:
And so here’s the answer. It’s your freaking property, you’re going to do what you want with it. This is America, number one.

Jill DeWit:
That’s the best description, I love it.

Steven Jack Butala:
The X shape is one of two things. It’s a large aerial survey marker, but this one seems a little bit more permanent. Usually they would just spray paint something or whatever. This is probably somebody’s … If you want to waste a half hour of your life, go on Google Earth and go down to Kern County and San Bernardino County, California. Just look around, and there’s some funny stuff. I don’t know if it’s leftover from movie shots or whatever.

Jill DeWit:
Go on Google Earth?

Steven Jack Butala:
Yeah, Google Earth. Is that what I said?

Jill DeWit:
I don’t know.

Steven Jack Butala:
Oh, you’re just thinking about something else.

Jill DeWit:
I was.

Steven Jack Butala:
Welcome to the Land Academy Show, Jill.

Jill DeWit:
I’m listening.

Steven Jack Butala:
Just take it off of there. But I would take pictures of it and stuff, it’s unique, it makes the property unique. If you were going to sell it, not on terms, just for cash, I would leave it there and shoot it and laugh about it.

Jill DeWit:
It’s hilarious.

Steven Jack Butala:
Which brings me to the bigger-

Jill DeWit:
Comes with a skydiving marker.

Steven Jack Butala:
Jill, you can do that.

Jill DeWit:
Here you go. You want to jump out of a plane and land on your own property? The marker is there, you can find it.

Steven Jack Butala:
Totally be that. It’s panel six.

Jill DeWit:
Exactly.

Steven Jack Butala:
If you miss panel five, look for panel six.

Jill DeWit:
Yeah. That one’s yours. Yeah, make it a positive. Isn’t that cool?

Steven Jack Butala:
The takeaway from this is that when there’s stuff left on your property, no matter how bad it looks, nine times out of 10 it’s better. It makes your property unique versus the person next to you who’s got nothing on theirs.

Jill DeWit:
Well, I was bummed the other day when I found out that I had a property that I thought had a gate on it with a fence and it was locked and I’m like, “This is cool.” So I told the people, “If you’ve got some bolt cutters, it’s mine, cut the lock.” Well, they were at the wrong property, I found out mine doesn’t have it. But even something like a fence people go, “Oh no, it’s bad, it’s a fence.” I’m like, “No, this is great. Somebody took the time to build a fence. There’s something worth having a fence for.”

Steven Jack Butala:
Exactly.

Jill DeWit:
And there’s a road for the fence, this is all good information.

Steven Jack Butala:
This a very popular thing right now that I hear, “Stuff’s on my land,” or, “There’s a locked gate.” I mean, you bought the property.

Jill DeWit:
Great, there’s something worth having a gate. Somebody cares.

Steven Jack Butala:
So I just wonder, when there’s legal access and physical access, because we don’t buy property otherwise, I don’t know why that becomes … It’s very, very common. I mean nine times out of 10 people are like, “Oh my gosh, what do I do?” So I don’t-

Jill DeWit:
Nothing. When you buy it, you cut the lock. Put your own lock on it.

Steven Jack Butala:
It’s one of the things … Usually you can figure stuff out, I can’t figure it out. Anyway … Today’s topic, why test mailers don’t work. This is the meat of the show.

Jill DeWit:
Will you please explain test mailers?

Steven Jack Butala:
A test mailer is this … We have a bunch of new people, because it’s the new year and I’m watching in Discord and Land Investors people testing, I’m going to use the word with air quotes, testing test mailers. Nowhere in the program do I advocate this and nowhere have I ever seen anyone in the advanced group say, “Let’s just check it out.” Here’s why. A test mailer is when you say I’ve identified this market as a place that I want to send mail. It passes the tests, I’ve gone through the education and I’m ready to do this. I’m going to send out 150 mailers and just see what happens. I’m going to play one hand of blackjack and see what happens. I’m going to throw my fishing line into the water one time, and if I don’t catch a fish I’m leaving.

Jill DeWit:
Excellent.

Steven Jack Butala:
So that’s just not how this works. You need to get in there. If you’ve identified a fishing hole and you’ve talked to a bunch of people and they’re like, “Oh yeah, we pulled out 25 fish over there in two hours yesterday, here’s the coordinates go over and give it a shot.” That’s good information, you’ve done what you’re supposed to do, and you’re going to go … Versus just driving out in the middle of the ocean and dropping a line in. Test mailers don’t work, and because this is a numbers game. If you send out 10,000 mailers, and I’m not saying do this, please don’t. Send out 10,000 mailers without any research at all, and you put $5,000 on every single one of them, you’re going to buy a property. I don’t care, unless it’s Manhattan, New York or some crazy high-end thing, you’re probably going to buy a property.

Jill DeWit:
Now in Manhattan you probably will.

Steven Jack Butala:
Yeah. I’m not saying do that, I’m really not. I’m saying do your homework, do some stuff, don’t send out three or 400 mailers. All it’s going to do is discourage you. The odds are no longer in your favor of getting anything at all and it’s going to make you mad, and it’s going to fail. And so you’ve done all this work to identify market instead of sending out 1500 or 2000 mailers, which is what you should do. You send out 200 just to see. I had a football coach, I haven’t said this in years on the show. He was famous for saying, “If you’re going to make a mistake, make it at a hundred miles an hour.” So don’t just go, “Oh wait, I’m going to see if it’s going to happen.” Don’t do that.

Jill DeWit:
You got to be in it, you got to be in it. I was thinking myself, our test mailers are 3000. That might be … It’s not really a test, it’s not a test. There is no test, just send it out. What’s the minimum … I would love to share for everyone here.

Steven Jack Butala:
1500.

Jill DeWit:
Per zip or county?

Steven Jack Butala:
If you’ve identified and done all the work, just like the program says-

Jill DeWit:
You want to do a multi-zip or multi-county mailer, how much is the minimum you want for each one? I’m going to say 1500.

Steven Jack Butala:
Here’s a perfect scenario. I love multi-county or multi-zip code mailers, because the stuff comes back, and if you get three or five purchased properties out of it and they’re in different zip codes or different counties, that’s really good for sales, because you don’t have a lot of property in one area. But at this point in our career, I wouldn’t send out a 600 unit mailer in one zip code or county, I just wouldn’t do it. 1500.

Jill DeWit:
Well, and I want to talk, as I talk about this a lot, this comes up in a lot of the things on the live stuff and everything, people ask this question. One of the reasons why is if you’re doing it all, especially when you’re brand new, it’s so much easier and you have such a better chance of success if you send 1500 units to one area, one parcel size, one whatever. You’re comparing apples to apples. When these calls come back, all you’re dealing with … You know the county, they’re all roughly five acres, whatever it is that you have identified for your mailer, it’s so much easier when you’re sitting there lining up the deals and picking the best ones, “Oh, this is access is better than this access.” And you’re not jumping around like, “Oh, okay. How much-”

Steven Jack Butala:
Especially if you’re new.

Jill DeWit:
Yeah, when you’re new, “Oh yeah, over here they’re priced differently than over here.” That’s just a little nightmare. I don’t want you to do that, I want you to get comfortable with how the transactions go, A, and B, I want you making some money. Then when you go on … You can start rolling in some other areas and branching out a little.

Steven Jack Butala:
So I guess my question is, and I really want to know the answer, because usually I can figure out why people do stuff really, but like I said earlier, what’s the point to testing a mailer? I’m asking you, really, what do you think goes on in someone’s head?

Jill DeWit:
I think people are uncomfortable with their selection. They maybe not confident with the area that they chose, so they think they’ve … They’re going to send out for five and hope that one of the five is a good one, and one of the five is going to be … And that’s going to … They’re going to get the right offers back, and that’s going to be okay. Instead of maybe spending a little more time picking up ahead of time and doing it like that.

Steven Jack Butala:
Yeah. Truly, all kidding aside-

Jill DeWit:
There’s no money savings.

Steven Jack Butala:
What Jill described, don’t do that. And later in your career, after you’ve worked the state and you know the difference between the counties and you know everybody, you really know, you can pretty much say what’s going to happen when the mailer goes out and comes back, that’s when you’d start getting creative. So here’s another thing, nowhere do we teach this. So if you wanted to be a welder, I’m just not one of these people. Again, I’m asking you, if I wanted to be a welder, I would take a class, figure out what it is, what the certification levels are, go to the class or take it online or however it works right now. Exactly follow the instructions of how to become a welder and how to be certified and how to get an A too, how to pass it with flying colors. And then the minute that I was done, I’d go back out into the junk yard and just test my stuff. I would … If I wanted to get creative, I wouldn’t do it during the time where I’m learning.

Jill DeWit:
Do you know what you sound like? This is like a 17 year old with a new driver’s license and a new car. “Okay, I did what I needed to do to pass the test, now I’m going to go practice burning the back tires off of this.”

Steven Jack Butala:
God, that sounds fun.

Jill DeWit:
Yeah, yeah, yeah. “I know how to drive, I know what to do, now I’m going to go have some fun.”

Steven Jack Butala:
That’s why your insurance is $1,200 a month.

Jill DeWit:
So funny.

Steven Jack Butala:
Until you’ve got 10 deals under your belt, just do what the program does.

Jill DeWit:
Well, here’s my point. I want to say, if you’re new and you’re thinking of these test mailers, I would rather you spend a little more time. If you’re in Land Academy, you know what I’m talking about with picking a county in the red, yellow, green. I want you to spend a little more time, maybe spend an extra day, an extra weekend, who cares? Double checking your red, yellow, green stuff to make sure you feel good, and then I want you to go at it with confidence. And then no matter what, you know that if you came in too high on your offer price, you know how to solve that problem, we talk about a lot, and if you came in too low, that’s even easier, by the way, on these offers, you know how to solve those too, and you’re going to get some deals.

Steven Jack Butala:
And Jill, how do you know you came in too high or too low?

Jill DeWit:
Well, if you came in too high, every single person loves you. They call you back with a smile and you are overwhelmed with signed offer agreements, because they all said, “Wow, this person actually wants to spend this much on my property.”

Steven Jack Butala:
And too low?

Jill DeWit:
And too low is you got a whole lot of hate, and that’s okay. I’ll tell you real quick. So what do you do with a whole lot of hate? Big deal. Find out if they want to sell and then … Because every time you add money to it, they think they win and it’s a good situation. “Oh, I’m sorry. I offered 500 and it’s really worth 1500. Holy cow, I’m so sorry,” whatever it is. You know it’s worth even more, you know it’s worth 4,500, so you’re okay paying 1500. That’s the point here.

Steven Jack Butala:
So here’s what happens when you send out a 300 to 600 unit test mailer, nothing. No one calls you back, there’s no hate. You might get two calls and they hang up. You haven’t sent out enough to get any feedback to make the appropriate adjustment. You have to fail at a hundred miles an hour. Send out 1500 to 2000, maybe 3000 units or whatever. You’re going to get all kinds of feedback, you’re going to buy some property. But just testing it …

Jill DeWit:
You’ll know.

Steven Jack Butala:
I have to tell you. I’m going to say it, truth time. And it’s not going to be a popular thing, but I’m going to say it. I question the personality, this test mailer personality, and how successful they’re going to be at this.

Jill DeWit:
They’re not confident. They need to have confidence.

Steven Jack Butala:
You need to have some … You need to say, “Whatever it is, bring it, bring it. I will find a deal out of these 1500 to 2000 mailers, whether it’s too high or too low.” You’re not going to … If you send out three to 500 units just to test that market to see if it’s good, that’s absolute incorrect logic. What you’re doing is pulling the slot machine thing once, you didn’t win, you’re walking out.

Jill DeWit:
Right, you don’t really know. That’s perfect. Happy you could join us today. Five days a week you can find this right here on the Land Academy Show.

Steven Jack Butala:
Tomorrow the episode on the Land Academy Show is called providing information instead of directly selling. You are not alone in your real estate ambition.

Jill DeWit:
This has been a fun week, we have a lot to say. You know what? Because we’ve just had some kooky situations and deals that have just, man, just given us a lot of content. That’s awesome. Need to send out a few thousand offers to property owners like us? Check out offers2owners.com. No setup fees, free mail merge, and exceptional service. We should know, because that’s our company. Give Offers 2 Owners a call today.

Steven Jack Butala:
We are Steve and Jill.

Jill DeWit:
We are Steve and Jill.

Steven Jack Butala:
Information …

Jill DeWit:
And inspiration …

Steven Jack Butala:
To buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

A Deal We Killed Yesterday (LA 1416)

A Deal We Killed Yesterday (LA 1416)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Hi.

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 a deal we killed yesterday. This is part therapy for Jill.

Jill DeWit:
Uh-huh (affirmative).

Steven Jack Butala:
Because she needs to vent, and an incredible source of entertainment for me.

Jill DeWit:
This doesn’t happen very often. Usually, I’m killing a deal because we come across just a major title issue, or there’re just liens that we miss, and it just now doesn’t make sense. Access we thought we had, now we don’t. There’s usually some property-related reason why we have to kill a deal. It is very, very rarely that it’s 100% the person involved in the deal, as in the seller, as the reason why we don’t want to do it. I flat-out told this gentlemen-

Steven Jack Butala:
Before we get into it, let’s take a question.

Jill DeWit:
All right. You’re, “Hold it back, hold it back.”

Steven Jack Butala:
Posted by one of our members on the landinvestors.com online community. It’s free. I can’t wait to hear this.

Jill DeWit:
Oh yeah. Is this really who this is?

Steven Jack Butala:
Mm-hmm (affirmative).

Jill DeWit:
Okay. It’s written by-

Steven Jack Butala:
It’s Steve.

Jill DeWit:
It’s Steve?

Steven Jack Butala:
Yeah. Steve says…

Jill DeWit:
Okay. Steve says, “Happy New Year. We’re looking for a few folks who need money partners. We like purchases between $5,000 and $50,000 typical splits. We’re getting pretty good at creative financing.” Whatever that means.

Steven Jack Butala:
It means because they’re private lenders or private partners being very flexible to what the person, the deal finder needs.

Jill DeWit:
Sure. All right. “We also buy seller finance notes and we’ll even lend on performing notes, small shop with deep experience in credit and collection.”
This is hilarious.

Steven Jack Butala:
So please, everybody, whatever you’re doing, please stop and listen. I want you to never, ever worry about the money part of this ever again.

Jill DeWit:
Right.

Steven Jack Butala:
This is this, and then Steve leaves all his information and his cell number and all of that-

Jill DeWit:
Hidden in our group.

Steven Jack Butala:
Which I, yeah, there are probably a hundred people in our group that are like this and maybe 500 more that are lurking that are not part of our group, dying to finance our fund, your deal, starting with us.

Jill DeWit:
Beautiful example, today is Wednesday. The show that I did, the Facebook live and YouTube live show that I did eight days ago, we led the show with a survey about how many of you here are looking for money or how many are here to lend. And it was funny, because it was 100% the people that completed the survey were a 100%, I’m looking for money. And then halfway through the show, in comes all the lurking people. They didn’t want to answer the question that I’m here to lend money. But when they heard someone had a good deal, here comes people’s phone numbers, emails, contact information, “I’ll help you, I’ll help you, I’ll help you.” Just like Steve here.

Steven Jack Butala:
Many people are very shy.

Jill DeWit:
Yeah.

Steven Jack Butala:
They won’t stand up in the front of the room. They’ll stand up in the back of the room.

Jill DeWit:
That’s where they are.

Steven Jack Butala:
But they will not stand up in the front of the room and say, “We would love to be your partner.” They just don’t. That’s not their personality.

Jill DeWit:
They want to hear about the deal first.

Steven Jack Butala:
That’s exactly right. They don’t want to hear how great you are and how shiny your shoes are or any of that. They want to look at a deal. They want it to be presented easily and they want it to be an awesome deal. And they will throw money at you literally, throw a hundred dollar bills at you. It just needs to, you need to find them. You need to work them. You need to be cool about it. And you need to consistently send them fantastic opportunities and they will do it. Every single deal you bring them after the second or third deal. How do you do that? How do you find great deals while you’re in the right place? You send out a bunch of mail. You look at tons of properties, you get organized and you find if I need money partners, they’re right here.

Jill DeWit:
Perfect. Back in the day, if you’ve ever gone to any REI meetup in any town, there were always guys standing, leaning against the wall in the back of the room. And all they’re doing there is watching and listening for people. You’re there talking about, “Hey, I just got this under contract. I think this is this. I think I can do that. This person is asking for information on the deal.” And if you watch on their way out the door, they might’ve been followed by one of those guys saying, “Hey, do you need money for that? I can help you.” That’s exactly what’s going on. And now the back of the room is the version. Now that we don’t have a room to stand in right now, the back of the room is lurking on social media-

Steven Jack Butala:
That’s right.

Jill DeWit:
Lurking in all our online community and, and lurking on my Facebook live.

Steven Jack Butala:
I don’t want to sound like a broken record here. We’ve been saying this for five years. Well, it’s actually seven years that we’ve been doing Land Academy, I did all the math-

Jill DeWit:
Yikes.

Steven Jack Butala:
In 2015.

Jill DeWit:
[inaudible 00:05:10].

Steven Jack Butala:
It’s 21.

Jill DeWit:
Wow.

Steven Jack Butala:
We’re on our seventh year.

Jill DeWit:
Wow.

Steven Jack Butala:
So we’ve been saying some version of this for a while, but I will tell you this. And it’s truth time, I’ve never seen so many money people. It’s just taken a lot of years for this thing to catch on because land is historically been this thing that nobody wants to touch.

Jill DeWit:
Right.

Steven Jack Butala:
After years of doing this podcast and there are Thursday webinars and all of these, these finance guys are looking for new creative ways to partner money and they’re finding us.

Jill DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
And they’re finding us because a lot of our members are pretty loud about selling property,

Jill DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
Which should they should be because that’s what we’re here for. You buy a piece of property and resell it. So please, don’t let money stop you now more than ever. And including us, we’re worried that probably half the deals we do are money deals.

Jill DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
Maybe 40%. I don’t know. Some number like that.

Jill DeWit:
I don’t know. [crosstalk 00:05:59].
Don’t ask me about math right now.

Steven Jack Butala:
I’ll do the math for you.
Today’s topic. The deal we killed yesterday. This is the mid of the show.

Jill DeWit:
[inaudible 00:00:06:09]. The math that I know, I look at bank balances.

Steven Jack Butala:
Yes you do.

Jill DeWit:
I do. And I look at the math. Here’s the math that I care about. I look at bank balances and I look at per transaction, but then I, so I get an offer and I always have to go back and look and go, “What are we in for?” Like, I had an offer that day for $70,000, we’re in for $23,000. I know that math. I’m good on that. Even though the broker gets 10%, I don’t flipping care, he earned it.

Steven Jack Butala:
Oh, yeah.

Jill DeWit:
Its so funny.

Steven Jack Butala:
No, I look at all of that for us.

Jill DeWit:
Yeah. You do the other math.

Steven Jack Butala:
You just keep selling sweetheart.

Jill DeWit:
Right. So, okay. So as I was saying, it’s very rarely that a transaction gets killed over people. And so I was going to start by sharing real quick here. The exact message I sent to my dear sweet transaction coordinator this morning. And I said, she was saying, “Okay, I’m taking care of, I’m doing the things that we talked about yesterday.” I said, “Thank you. I bet you will also sleep better knowing that we have that man out of our lives.”
She put a happy face. And then I went on to say, “PS I’m sorry, if you were trying to tell me that he was kind of abusing you. Steven and I do not tolerate anyone, giving our people any crap. Please pull me aside if it ever happens again and I will take care of it.” And she said, “Will do.” So I didn’t know this was going on too.

Steven Jack Butala:
Well, he’s going to get a phone call from me.

Jill DeWit:
Oh, yeah.

Steven Jack Butala:
Today.

Jill DeWit:
So let me back up with a story. Just our normal thing, offers go out. It was a great deal for everybody. It was seven properties. There were one or two wells involved. I think two, and at least two-

Steven Jack Butala:
There was well service. No, every single property had it own well, [crosstalk 00:08:07] and two of the properties-

Jill DeWit:
Needed one.

Steven Jack Butala:
Two of the properties were sharing a well. So no, there is wells on every property.

Jill DeWit:
So, yeah. So they were [crosstalk 00:08:16]. It doesn’t matter. Details don’t matter.

Steven Jack Butala:
They matter.
[crosstalk 00:08:21]. The’re seven properties we were paying $10,000 each per [crosstalk 00:08:23]. They were worth at least $50,000. $50,000 is way wholesale. So, we would be in for 70 and-

Jill DeWit:
81. We’re in for 81 at the end.

Steven Jack Butala:
There was some well thing. Yeah. We would have sold them for $600,000 total.

Jill DeWit:
Right. So, deal’s going along. We talk, he and I agree on everything. I thought things are going along. Dear man, he’s older. And-

Steven Jack Butala:
Let me set this up. Just one more point.

Jill DeWit:
Okay.

Steven Jack Butala:
There are a lot of issues with quick clean deeds and alot-

Jill DeWit:
That’s what I was going to do.

Steven Jack Butala:
Okay. Go ahead.

Jill DeWit:
I was just going to say that.

Steven Jack Butala:
Yeah. Go ahead.

Jill DeWit:
He had done his own paperwork all along the way as seller financing and different things he had done with these properties over the years. He had several LLCs that he opened, he closed, rolled things up here, rolled things over here, all the while doing his own paperwork and all this. So, okay. So we’re under contract, everybody sign, he’s making a big deal about I’m going to walk, making sure I put my earnest money in and I did. I did everything right. I’m making him feel good all along the way. And it keeps coming up that there’s all these issues and I couldn’t figure out what was going on and then come to find out. He’s just, I don’t know if he was embarrassed or upset that he had not been…
He’d, again he’s been acting like his own attorney this whole time.

Steven Jack Butala:
Yeah.

Jill DeWit:
Is what was going on. And he’s not an attorney. And with title, we’re having to undo mess after mess, after mess. And I’m sure he was getting tired, probably tired/embarrassed of getting another phone call saying, “I need these documents because that wasn’t done correctly.” And my team and our wonderful escrow agent, this girl couldn’t be sweeter. We talked to her on the phone the other day, trying to get this done two days ago before I, I’m going to say, actually he killed the deal.

Steven Jack Butala:
Did he really? He killed it?

Jill DeWit:
Yeah. Well, I’ll explain it in a minute. Going along, that he just was not complying and making it harder and harder and harder. He didn’t understand. And so I finally got to the point where we had a call yesterday.
It was yesterday or the day before yesterday. You and I, our transaction coordinator and the escrow agent, all got on the phone for 30 minutes talking about every property and what needed to happen. Deed in lieu of, deed in lieu of this and undo that and get these documents. I’m, “What the heck?” So, and my poor transaction coordinator, bless her heart was letting me know it was difficult, but didn’t tell me. I felt [inaudible 00:10:54] told me the true story because she’s trying to do her job, which is sweet and get this deal done for us. So I got on the phone with her yesterday. I said, “All right. I’m going to call this guy. I’ll get this all done. I’ll make sure we’re all on the same page.” Because he started to change numbers on us and look, “I’ll pay for these documents to undo this stuff for him.
Because it all, because my girl is so wonderful. She’s going to get 11 documents done to undo his mess for $500. I’m, “I’ll pay the stupid 500 bucks.” Because we all know how this was going to go. But then he had some other money issues he wanted to throw in there. I’m, “No, that’s not part of the deal.” So anyway, I called the gentlemen yesterday and I started off really nice. We just talked about building relationships. “How are you? I haven’t talked to you in a couple of weeks. Here’s what we’re getting close. We want to get this done.” And he kind of launched in that we should have just done quick clean deeds and just done it that way and all these been done.
I’m, “Hold on a moment. These are great properties. I have big plans with them. I want to do them in the right way. I need to get title insurance. And in order to do this, I need this and this.” And he’s, “I’m just not going to do that.” I said, “What?” And so he was throwing back some other money things I said, “Fine. All right, here’s the deal. Seller, if you will agree…” And now the anxiety is building up in me, by the way, it just never happens. And I’m, “All right, fine. I will agree to, even though this is not the way it’s normally done in this state. This is way against how these deals go. I will agree to give you this and pay for that if you promise me, when the title agent calls, you’re going to answer the phone and do as best you can to get all the documents so we can get this done fast and easy and everybody move on.”
He’s, “No, I’m not going to do that.” “Excuse me.” He’s, “You know what? I just don’t even have to sign this.” I say, “You know what? And neither do I.” So if you’re going to be that way, I said, “We don’t.” I said, “Look.” I flat out said, “This deal is not going to make or break my business.”

Steven Jack Butala:
Oh my God.

Jill DeWit:
I said, “You don’t want to do this deal. You just say the word. ” And he’s, “Nope.” And I said, “Awesome. Have a nice day.”
And that’s how it ended.

Steven Jack Butala:
Did it get to name calling?

Jill DeWit:
No. Oh, no.

Steven Jack Butala:
Okay. Good.

Jill DeWit:
Nobody did. He did say, “Well, a little bit, I’m a crook.” And I’m-

Steven Jack Butala:
Why? Because you wanted title insurance?

Jill DeWit:
Because I want it done right. That’s what was mind boggling to me. I’m, “Seller, you did all this stuff wrong and my people are trying to undo it.” I couldn’t have the best team. And by the way I told him, I looked up and said, “We’ve been in doing this deal with you for 54 days now. This is ridiculous. It’s really on you.” I was trying to-

Steven Jack Butala:
Its too bad. It was such a great deal.

Jill DeWit:
Nicely say, “Dude.” And I actually said with authority, “You did the stuff wrong. We’re undoing your mess. No one else is going to do this. And that’s the whole point here.” When I hung up, I knew that this guy going to die with these properties and I feel really bad, but no one’s going to undo this mess. If he gets someone to quick claim this stuff, I feel bad for that person because they’re inheriting a disaster.

Steven Jack Butala:
We do a lot of rural real estate deals. And this one was semi-urban. It was urban enough where we needed a title insurance and what we were going to do with the properties, we certainly need to title insurance.

Jill DeWit:
Exactly. That’s why.

Steven Jack Butala:
But its in an urban sprawl area. And so, and this property, he’s been there for a while.

Jill DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
So I’m sure he’s just used to the cowboy way of just saying, “I quick clean deed it.” And out of sight, out of mind or in sight in mind kind of thing. It’s like, this is it. And people stop paying or whatever, however it works. So he’s living probably 50 years ago.

Jill DeWit:
Yeah. And [crosstalk 00:14:43] he’s still… Well, and I really think he’s under the assumption that if they record it, then it’s correct.

Steven Jack Butala:
Right. I’m sure you’re right.

Jill DeWit:
That’s really what I think, because it was recorded.

Steven Jack Butala:
You’re using terminology he doesn’t understand. You’re a city slicker, all of that.

Jill DeWit:
It doesn’t, I don’t know.

Steven Jack Butala:
So it’s too bad.

Jill DeWit:
Oh, I…

Steven Jack Butala:
It kills me because it’s those, we would’ve made half a million bucks. [crosstalk 00:15:03].

Jill DeWit:
I don’t care.

Steven Jack Butala:
I know. I agree with you.

Jill DeWit:
But you know what? This goes back to-

Steven Jack Butala:
I’m standing right next to you on this.

Jill DeWit:
It comes back to two points I have to make. Number one, the time we spent on that, I could have made $500,000 another way. So let’s all stop talking about that.
FYI.

Steven Jack Butala:
Lets all means [crosstalk 00:15:21].

Jill DeWit:
Lets all meaning you Steven.
In 53 days, I can make $500,000 and knock it off. Number two. No one should take that crap. And that’s why I kind of want to have this show today too.

Steven Jack Butala:
Yes. Jill, that’s right.

Jill DeWit:
I want everyone to know that you’re not at the mercy of somebody. You shouldn’t take this.

Steven Jack Butala:
That’s a great point.

Jill DeWit:
If you’re here listening to us and you’ve been here with a while, you obviously roll how we roll. I want to do things the right way. I want everybody be cool here. Let’s all help each other out and all make great money together. This guy could have made, he was going to make a nice chunk of change on the stuff, period. Anyway, and we could too, he, I don’t know what was going on with him.

Steven Jack Butala:
He was nice in the beginning. And I think that, I don’t think he’s sitting around saying, “Oh, I did the paperwork wrong.” Or anything like that. I think he’s just, he’s not knowledgeable.

Jill DeWit:
Yeah.

Steven Jack Butala:
That’s really, I think he doesn’t, he’s saw quick clean deed that’s how you do it. That’s how we’ve done our whole lives. That’s how my neighbors do it. That’s how my parents did it. That’s how my whole family did it.

Jill DeWit:
There’s no reason to act the way he acted. That’s the sad reality too, because I don’t know if you heard the beginning of the call and I called him yesterday, I’m, “Hey, how are you? Haven’t talked to you in a while.”

Steven Jack Butala:
I didn’t hear it all.

Jill DeWit:
“How’s your wife.” I thought we’re going to have a nice sweet conversation. I just want to clarify, because the whole reason I was getting involved here is because he was changing some of the terms. I’m, “That’s not what we agreed upon. So I just want to clarify we’re all in the same page here.”

Steven Jack Butala:
Was it just the affidavits and stuff that he had to sign or did he have to dig through paperwork and provide things? It was just signatures, was it?

Jill DeWit:
I think it was signatures at this point.

Steven Jack Butala:
So what’s the problem with that?

Jill DeWit:
[crosstalk 00:17:06]. I don’t know.

Steven Jack Butala:
Just sign this, sign here.

Jill DeWit:
I just think, I don’t know. Okay. He was either overwhelmed or he decided, “I’m going to go off and cowboy sell this myself-

Steven Jack Butala:
That’s what I think it is.

Jill DeWit:
And do my own deals. And I’m going to cowboy sell them to someone who’s not that smart or they don’t really want to do anything with them or something.” I don’t know. And that’s fine.

Steven Jack Butala:
This could be just-

Jill DeWit:
Or it could be a way to just get out of the deal.

Steven Jack Butala:
Yeah. That’s what it sounds like.

Jill DeWit:
[crosstalk 00:17:32]. And just say that, you want to get out of the deal.

Steven Jack Butala:
Jill, and I haven’t even talked about this and all I know is that she was half crying yesterday-

Jill DeWit:
Oh, I was not. I was pissed.

Steven Jack Butala:
And half punching the wall.

Jill DeWit:
Yeah. I was, “Oh…”

Steven Jack Butala:
I’m, “Save it for the show.”

Jill DeWit:
Exactly. Thank you for letting me vent today. Happy you could join us in Jill’s therapy session.

Steven Jack Butala:
You feel better?

Jill DeWit:
I do.

Steven Jack Butala:
Okay. Good.

Jill DeWit:
Five days a week you can find us right here and I promise it won’t always be like this on the Land Academy show.

Steven Jack Butala:
Tomorrow the episode on the Land Academy Show is called, why test mailers don’t work. You are not alone in your real estate ambition.

Jill DeWit:
Yeah, that was totally me and about 15 minutes of rant. Thank you very much.

Steven Jack Butala:
No. I think it’s, I learned a lot. I’m sure-

Jill DeWit:
Uh-huh (affirmative).

Steven Jack Butala:
That everybody listening, you either have a story or a couple of stories like this, because you’re seasoned or you’re new and you’re, “I learned that stuff can happen.”

Jill DeWit:
Here’s a positive that came out of this. Number one, that mean, mean man is out of our lives. Number two, I have even built up a better relationship with my staff because I let my staff know, “Okay, if you were trying to tell me that and I missed it, I’m sorry. I don’t want you taking any crap from anybody.” And then number three, we are sending treats to that dear sweet title agent, which we have other transactions that we’re doing with her and we’re going to continue to deals with her because she’s awesome. She’s going to be, “Yay. I get to shred these files and I just got flowers and goodies delivered.”

Steven Jack Butala:
[crosstalk 00:00:19:06]. It is the silver lining in this. We found a title agent in that state that’s going to do everything for us now. She’s amazing.

Jill DeWit:
Yeah. It’s all great. If you need access to any sort of property details, including owner phone numbers and FEMA flood overlays, check out neighborscoop.com, created by investors, that’s us, for investors like you. [crosstalk 00:19:31] We are Steve and Jill.

Steven Jack Butala:
Information.

Jill DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

Building Relationships with Buyers and Sellers (LA 1415)

Building Relationships with Buyers and Sellers (LA 1415)

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 building relationships with buyers and sellers.

Jill DeWit:
And more. I threw in there and escrow agents and money partners, because it’s all tied together.

Steven Jack Butala:
Yeah.

Jill DeWit:
Thank you. You need to have them all on your team.

Steven Jack Butala:
This is quite possibly the single most important thing to get deals done, or really anything done in life that I can think of. The data part of this, I’m a what I think as a pretty good data person and a pretty good statistical person.

Jill DeWit:
You’re getting there, babe. I love, you’re trying to be so, not have a big head and I appreciate that, but you should have a big head.

Steven Jack Butala:
But it would all be wasted if we couldn’t sell anything. And every single one of the people that I know that are real good at this, every single one of the advanced members, the Land Academy advanced members, they can either do both data and sell, or they have partners like us and a situation like us.

Jill DeWit:
I think most of them have partners.

Steven Jack Butala:
Yeah, they do.

Jill DeWit:
Yeah.

Steven Jack Butala:
Actually most of them-

Jill DeWit:
I’m trying to think of one. Can you think of one? Maybe one that can do both, but even he is not as good on the personal part of it as he thinks he is.

Steven Jack Butala:
You know what, Jill? There’s a couple I can think of, but I think they have lot of people surrounding them. No, there is none. There are no people …

Jill DeWit:
Thank you.

Steven Jack Butala:
They either have a partner or they have a staff already …

Jill DeWit:
Right. Thank you.

Steven Jack Butala:
… that handles it, like a built-in sales staff from another company that just sells dirt.

Jill DeWit:
Right.

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.

Jill DeWit:
Brian asks, “Quick version. Is a higher or lower ratio of land postings like on Lands of America, et cetera, do total properties in a county preferable when identifying target county markets?”

Steven Jack Butala:
No. What he’s saying is if there’s a lot of properties for sale, tons of properties for sale, and then there’s a bunch of properties that exist in that market-

Jill DeWit:
In that county.

Steven Jack Butala:
… is it better if that ratio is higher, that there’s a lot of property for sale? The answer is hell no.

Jill DeWit:
Right.

Steven Jack Butala:
Go ahead.

Jill DeWit:
And then the longer version, he said, “Longer context, in Land Academy 1.0, chapter three,” I love this, “while Jack and Jill don’t go into a great detail on this, they seem to heavily imply that a higher land posting total property ratio is a positive sign, since they format the four chosen counties in green with higher percentages. And then they offer two cities with lower percentages formatted in red is what you don’t want to see.”

Steven Jack Butala:
And he goes on and on and on here. This is an incredibly intelligent question.

Jill DeWit:
This is Jack’s red, yellow, green chart that he …

Steven Jack Butala:
Yes. So, what Brian’s saying is how do I pick a county or how do I pick a zip code to choose mail? We have a, Jill and I, well, I devised this system a lot of years ago for myself and now it’s in our programs of this three, it’s a red, green and yellow test. It’s three statistics that involve percentage of property that’s for sale versus the universe of properties in that county, land properties. And you want that to be very low. All right. So, he’s going through Land Academy 1.0 and asking questions. And that’s absolutely what … Next week, we’re about to launch our accountability group, which is what this is for, because it’s brand new for us. We want to help new people really understand these chapters and understand the nuances of all of this, and Brian’s doing all the right things.
But that red, green, yellow test is three statistics. And in this environment, it’s too hard for me to bring it up and explain it, but it’s very, very important. Whoever you are, if you do these three things, these three statistics and pick a county where it’s all green, there’s three statistics. Sometimes one’s red. Sometimes one’s yellow. Sometimes one’s green and everything in between. What you’re looking for is three green, then you should mail there.

Jill DeWit:
Then it’s like, duh. How fast can I get the mail out?

Steven Jack Butala:
Exactly.

Jill DeWit:
Because look what’s happening in this area.

Steven Jack Butala:
This exercise that I just described works everywhere, every single county and every single zip code. It replaces and puts to bed forever any discussion of where should I send mail? What are the list of secret counties? I don’t know if this is going to work. Does the zip code work next to this zip code? I don’t know. It replaces that completely and entirely, and you can just check it off your list. Yep, those three are green. I’m going for it. And it will work. If it’s priced right, you’re going to do great.

Jill DeWit:
Excellent. Thank you, babe. Is there more to this that you want me to read?

Steven Jack Butala:
And then he finishes by saying this. Go ahead, Jill.

Jill DeWit:
By the way, at the very … There’s two huge paragraphs in the middle and then this at the end. “By the way, this is my first post. Loving Land Academy so far. Joined a week ago and everything Jack and Jill have to teach. Seems like this industry is on the cusp of great change/disruption.”

Steven Jack Butala:
Yeah, disruption.

Jill DeWit:
“I’m excited to jump in. I especially enjoy the posts from Kevin, Laurie and Luke. Great community.” Love it.

Steven Jack Butala:
I have to say, you’re using this community the way it was intended, the way that Jill and I built it. It’s not just us. It’s not just the programs. It’s actually reaching out to other members, asking questions, making sure you understand it, and then just beating the hell out of it like it deserves.

Jill DeWit:
Do you want me to say this?

Steven Jack Butala:
Yeah. You know what, Kevin, our-

Jill DeWit:
One of our moderators.

Steven Jack Butala:
This is not a usual question for us, obviously. This is so important. This is like building the foundation of the house correctly. So Kevin, our moderator, says this in response to Brian’s.

Jill DeWit:
Says, “Brian, I look for counties with fewer than 40 listings for each parcel size. For example, I search listings for four to six acres, like a five acre parcel, and then I skip the counties that have more than 40 listings. I don’t want to deal with a market that has more listings than that. Just move on to another county. Each of us finds our own rules of thumb for weeding out counties for our mailers.”

Steven Jack Butala:
And Kevin’s right. So Kevin’s used the red … Kevin’s been with us forever. He’s been to all our live events. He’s the moderator, and he’s had a lot of success with this program. And I know that. He and I have talked personally in person many times about the red, green, yellow test, and there’s easy ways and hard ways and data ways to do it. And so in the end, for whatever reason, after years of doing this, he’s decided to skip to the, for him, this is it.

Jill DeWit:
40. 40 is the magic number for him and that’s great.

Steven Jack Butala:
Does it work in Michigan for him? I don’t know. Minnesota, Florida. I’m not sure. So he probably looks at those states a little bit differently, but he would never say something like this if it didn’t work.

Jill DeWit:
Exactly. And that’s the thing, you’re going to get your own criteria. People ask us, like what we do on Thursday calls, would you do this deal, and we pull up Zillow and we’re like, “Whoa.” You see a lot of red dots. And everybody goes, “Well, how many red dots are too many? Do I sit and count them?” No, you don’t sit and count them. You’re going to get your own feel, like you just said, and you’re going to know like, oh, I don’t want to do this there. That’s a lot of competition.

Steven Jack Butala:
Those red dots, if there’s 100 red dots that come up on that screen, what only matters is how many properties are in that county as a percentage. So if there’s 45,000 properties in that county and there’s 40 red dots, that’s a tiny little percentage, and the days on market are real low, you’re going to do great there. Like I say, we don’t have any dart boards in our office. We don’t guess at anything.

Jill DeWit:
I wouldn’t mind having one though sometimes.

Steven Jack Butala:
What would you do with it?

Jill DeWit:
Put a picture on it.

Steven Jack Butala:
Whose picture?

Jill DeWit:
Not yours.

Steven Jack Butala:
Whose picture would you put on it?

Jill DeWit:
I can tell you what I put on from yesterday. We’re going to talk about it tomorrow about the deal we killed. I got a picture I’d put up there.

Steven Jack Butala:
There’s a seller, we’ll talk about it tomorrow, that we put a great deal together, Jill did. Everything was clicking. It was great. And this guy just went, he just blew up.

Jill DeWit:
Yep. We’ll talk tomorrow.

Steven Jack Butala:
Okay. Today’s topic, building relationships with buyers and sellers. This is why you’re listening.

Jill DeWit:
Am I starting?

Steven Jack Butala:
I’m going to start with a story.

Jill DeWit:
Okay. Okay.

Steven Jack Butala:
This is so important. This question that we just answered was really important on my side, on the acquisition side and the data side. But on other side, on Jill’s side, relationships are the reason you get deals done. And the first thing that comes to mind about relationships is I don’t really want to just do one deal with this person. I really want to do a lot of deals. And I think that’s false. That’s not why you build relationships.
Here’s an example. I took a class several years ago about this, and they used a used car dealer as an example. So in the seminar I took, that was all about relationship. It was an online thing, like Land Academy, like this, and the guy stood up there and he said, “Used car dealers are having a huge problem selling cars right now because of the recession.” And he said, “Everyone that I reviewed, or every used car dealer said the same thing. They’re reaching out on social media when they get a car in and they’re saying, ‘Hey, I’ve got this new car. It’s got this amount of miles on it.'”
Real estate agents are famous for this. Hey, I just got this listing. Look how beautiful it is. Here’s a drone shot. Nobody cares. No one cares about that. And what he said you should do and what I’m saying is what we do, this show is a perfect example, is provide information over long periods of time to get them to see your face, see your brand and trust you. And then when it’s time for them to buy a car, buy a house, they’re going to call you. And here’s how you do that.
If you’re a used car dealer, you’re in a neighborhood. So imagine you as a customer who buys a car every three or four years, you don’t care if they got a new car in. What I would care about is over and over and over on social media platforms, everywhere, on a zip code geography based scenario, that used car dealer telling me, “Hey, you know what? I sold 13 cars last month. Things are looking pretty good for the economy.” And my neighbor, who’s got two convenience stores, says his sales are up to, or his sales are down, or all the statistics. Make this just a big neighborhood thing. And I’ll tell you what. A year of reading simple little posts about, “Hey, here’s a neighborhood update and we’re doing okay. We’re not doing okay,” or, “Did you hear about this thing that happened over here yesterday,” that builds … I never would talk to the guy, but that builds relationship.
Inadvertently builds a relationship and trust of our neighborhood. And so, yeah, I’m going to go buy a car. I will think of him when I go buy a car. And real estate agents, there’s a few real estate agents that, in our market specifically, which is pretty high end where we live, and I’m talking about primary residences, provide data like that. Hey, our little zip code, 14 houses sold. Here’s the average price. And there’s new listings are this, and there’s this much inventory and all of that. I love that. Would that make you trust somebody?

Jill DeWit:
Of course.

Steven Jack Butala:
Because that’s what I think this is all about.

Jill DeWit:
We did that. Remember one time? We had a house that we did a renovation several years ago. And we picked, there were two girls. It was like Two Broke Girls. These two girls had a real estate team and they were just, the information they provided on these weekly newsletters that we found at the house-

Steven Jack Butala:
They put them on the doorstep.

Jill DeWit:
… every week, was like, they knew the area and they were really hyper focused on this area. We could tell. So when we called them, it was an easy like, “Hey, you’re going to list this house for us.”

Steven Jack Butala:
And they sold it.

Jill DeWit:
And they did. It was really fast.

Steven Jack Butala:
They sold the house like in a week.

Jill DeWit:
Because it was a perfect storm. We know how to renovate and stage it and they knew how to get it out there and sell it. And it was awesome. We did great.

Steven Jack Butala:
This was a lot of years ago, way before Land Academy.

Jill DeWit:
Because they inadvertently built a relationship with us exactly how you just said, and that was perfect.

Steven Jack Butala:
So I opened with those stories.

Jill DeWit:
They didn’t knock on the door, by the way. They never came knocking on the door and scare anybody.

Steven Jack Butala:
I opened with those stories intentionally, because I know Jill looks at this topic very differently and I would love to hear how you build relationships with buyers and sellers, Jill, because you obviously do it right.

Jill DeWit:
Yeah. Well, you know what it is? You did the excellent way of saying how you get them to pick up the phone and call you. And then my-

Steven Jack Butala:
Which is my job.

Jill DeWit:
Exactly. And then my way, I take it to the next step, which is now I answer the phone and now I want to build a relationship with them to get the deal done. And it doesn’t matter if it’s a buyer, it doesn’t matter if it’s a seller, it doesn’t matter if it’s an escrow agent, it doesn’t matter if it’s your money partner, it doesn’t matter if it’s a lender. Whatever you’re working on. And it’s personal, professional, whatever it is. So you want to do three things. I wrote it down. Just kind of thought of it. There’s three things that I do to build relationships with these people.
One is I befriend them. I get to know them. You overheard me that day in my office. Someone called me, and I knew right away who it was calling in. I saved in my phone. This is not everyone’s in my phone on speed dial kind of thing. Most of it’s through the company. But even then I recognize the phone numbers after a couple of conversations. But right away, I could say, “Hey, how are you feeling?” I know she was sick. Or, “Hey, how did that weekend go?” One was my broker, by the way. I know my broker had a huge party a couple of months ago. And after the party, I’m like, “How did the party go?”

Steven Jack Butala:
Party for what? Just a social party?

Jill DeWit:
It was actually pre-COVID, now that I think about it, because it was a pre-COVID barbecue thing that he did, but I’m like, “How is the party going?” Also, by the way, I know he’s working with his daughter, which is really cool. And I’m like, so now every time, I’m going to ask how she’s doing. I think that’s great. So, befriend them. And what that means is get to know a little bit about them and remember it and ask them about it and be sincere about it, by the way. Don’t be phony.
Second thing is be nice. It’s silly. It’s so silly that I have to say this, but it’s true. Not everyone knows how to pick up the phone and be nice. That’s it. And then be patient. Some people are at your level. Some people are way ahead of your level. Some people are behind your level as far as doing deals or transactions or just life or working with money. Sometimes you deal with people, and I mean, they’re writing checks they’ve never written before. And sometimes you’re talking to people that are writing checks like this is piddly to them, but you don’t know. So be patient, never assume, and be cool.
The last thing I was going to say, I had an example like your example. One of the things that I have done in life is I’ve always made sure I’ve done my best to leave every relationship on a good note, especially leaving a job. I always want to make sure that … because you never know when this is going to come back. I have two examples. One is jobs that I’ve worked in the past in sales scenarios, and I’ve been personally reaching out to these people because I know I left in great terms. They love me. And I’ve actually reached out to my former boss and former coworkers to say, “Hey, I need some help. I’ve got some stuff coming up there. When I left to do this full-time, you expressed interest. Are you still interested?” And we’re having dialogues now about that. And I know how good they are. So there’s some good … I’ve got a good team. I can build right there from that.
The second thing is, it’s kind of funny. We have a former employee from another life. I don’t know how to say this, but we had another … Did we talk about what we did last year in other companies? I don’t know if I want to say it, but we had other companies last year. We were playing around trying different things. And one of them, I had an employee that didn’t leave. She decided to just throw the keys and walk out kind of thing. And now she needs something from me.

Steven Jack Butala:
Oh, really?

Jill DeWit:
Yes.

Steven Jack Butala:
This is new to me.

Jill DeWit:
It’s actually kind of funny. And it’s funny, our whole team is like, “Are you kidding me? Now you need something from us?” Don’t burn those-

Steven Jack Butala:
You mean, she burned the bridge.

Jill DeWit:
She burned the bridge. And I’m like, you just don’t do that. If it’s not a good fit, it’s okay. Whatever it is. So I just thought that was funny to throw in there.

Steven Jack Butala:
And here’s some wisdom from an old person. I’ll tell you. We were going … I think it’s the next show.

Jill DeWit:
Okay.

Steven Jack Butala:
Yes, it is.

Jill DeWit:
All right.

Steven Jack Butala:
We’ll talk about it more tomorrow, but I’ve noticed with Jill that she can very easily establish relationships, very good relationships with people, whether buyers or sellers or whatever, if they have a light, kind personality. And it doesn’t have to be exactly like the personality, but we’ll talk about the deal that we just killed, that we would have made half a million bucks on it, but just none of us could take it anymore because they’re such clashing personalities that it was impossible to build a relationship with this person. They couldn’t remember-

Jill DeWit:
Yeah, because I’m not a jerk.

Steven Jack Butala:
Yeah. That’s what I mean. They just didn’t respond to … They weren’t interested in signing anything. It was that bad.

Jill DeWit:
Yeah.

Steven Jack Butala:
So we’ll talk about that tomorrow, but I think a lot of … It would be very unfortunate if the very first one or two or three deals that you did, you’re trying to listen to what we say and you’re trying to establish a relationship and it’s just not possible. There’s some times that it’s just not possible at all.

Jill DeWit:
That’s true.

Steven Jack Butala:
And so you just move on.

Jill DeWit:
That’s true. We’ll talk about that more tomorrow.

Steven Jack Butala:
Some people have had marriages like that, where it’s just no longer possible for it to work.

Jill DeWit:
As I’m agreeing with you, I realize what you just said.

Steven Jack Butala:
She doesn’t listen at all.

Jill DeWit:
Like, what the heck?

Steven Jack Butala:
This is classic stuff. Jill’s thinking about the next stuff.

Jill DeWit:
Like, what the heck?

Steven Jack Butala:
I do this on purpose sometimes.

Jill DeWit:
What are you saying, but no.

Steven Jack Butala:
You know we’re recording the show right now.

Jill DeWit:
Well, no, I wanted to say that. No, you touched on something good that I was thinking about. Building a relationship, like you said, like getting to have something … You mirror them a little bit. We haven’t talked about that in a while. If they go really fast, you try to catch up to them. Try to catch up to them. And if they go really slow, try to slow down for them. I mean, those little things like that.

Steven Jack Butala:
These are good shows this week. These are things that I don’t think anyone talks about. We talk a lot about buying and selling real estate. That’s the easy part. All this other stuff and why we’re so successful at this and why I think a lot of people in our group are successful, and especially at the live events before the COVID, we would all … It’s just like, oh, I’d talk to somebody and I’m like, “Oh, that explains it. Now I know exactly why you’re incredibly successful,” and it’s not because you know how to use Excel or you understand what an APN is or a perc test. That stuff is going to come anyway. You can learn that on YouTube videos. It’s this stuff, especially if you’re really young. I wish somebody, when I was really young, I would have said, “No one wants to know who you really are. No one.” The real you, nobody cares.

Jill DeWit:
Why do you think that’s a … I don’t think the real you is bad. I’m really confused.

Steven Jack Butala:
I think there’s a huge movement right now of people wanting to be accepted for who they are. And trust me, you do not want to ram your personality and all your junk and whatever you have down somebody’s concept. What you want-

Jill DeWit:
Well, if it’s bad.

Steven Jack Butala:
Jill, you just nailed it. If the person you’re talking to is going fast, go fast. You know, when in Rome. If they’re going slow, go slow for them. You’re going to get what you want. And that’s what this is all about. And have some fun while you’re doing it. And hopefully everybody wins.

Jill DeWit:
Perfect. Thank you. Happy you could join us today. Five days a week, you can find us right here on the Land Academy show.

Steven Jack Butala:
Tomorrow, the episode on the Land Academy show is called A Deal we Killed Yesterday. You are not alone in your real estate ambition. Yes, we kill deals.

Jill DeWit:
We do kill deals.

Steven Jack Butala:
We walked away from half a million bucks yesterday.

Jill DeWit:
I cannot wait because you know what, I’m sleeping great about it.

Steven Jack Butala:
Me too.

Jill DeWit:
It wasn’t worth it at all, and I can’t wait. I will tell you more. If you are interested in learning more about us or what we do, check out landacademy.com or houseacademy.com. We provide the education, tools and support you need to be flipping property like the pros. We are Steve and Jill.

Steven Jack Butala:
We are Steve and Jill. Information.

Jill DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

How to Get a Seller or Buyer to Perform (LA 1414)

How to Get a Seller or Buyer to Perform (LA 1414)

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 kind of sunny southern California.

Steven Jack Butala:
Not really, not sunny at all. You know what’s good about when it’s not sunny, though?

Jill DeWit:
Tell me.

Steven Jack Butala:
The lighting’s great.

Jill DeWit:
You know, I got this. I will make sure on recording days, this is it, because we need it just like this. This is perfect.

Steven Jack Butala:
If you’ve ever shot any video, if you have a show or ever done a YouTube, even one YouTube video, or if you shot family pictures, it’s a huge challenge to shoot into glass, and then into the outside.

Jill DeWit:
Right.

Steven Jack Butala:
And then on top of that, the ocean is reflecting the sun.

Jill DeWit:
It’s awful.

Steven Jack Butala:
Yeah, so it’s really in the morning right now, and it’s a little bit overcast. And I’m enjoying some pretty good lighting.

Jill DeWit:
Exactly.

Steven Jack Butala:
It has nothing to do with real estate.

Jill DeWit:
Correct.

Steven Jack Butala:
Before we get into it, well, today Jill and I talk about how to get a seller or buyer to perform.

Jill DeWit:
We didn’t already say that?

Steven Jack Butala:
I don’t know, maybe I did.

Jill DeWit:
I don’t know.

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.

Jill DeWit:
Buck wrote, “The buyer of one of my owner finance deals is asking what happens if he dies.” You know, I was thinking about this. Let me pause for just a second. You know, I was explaining to someone in one of my … I was in, I think I was in an accountability group. I was a guest on somebody else’s accountability group the other day. And I was talking about the number of deals we’ve done.
And I’ve pretty sure, you think you’ve had it all, right? You think that you’ve heard everything with the volume and the thousands of deals that we’ve completed, I feel good. But every now and then, something comes up when I’m like, “Wow, I actually have not had that one yet.”
And I actually have not had anybody say this to me. Maybe you have, but I have not had this conversation.

Steven Jack Butala:
I’ve had people die during a deal.

Jill DeWit:
Yes, I have had that.

Steven Jack Butala:
During an acquisition and a sale, but never owner finance.

Jill DeWit:
Well, and like pre planning it, like, “I’m in bad health,” or something. I don’t know.

Steven Jack Butala:
Yeah.

Jill DeWit:
So, “Does his paid interest in the land become part of his estate? And his estate can continue making payments? He wants to make sure his wife and kids don’t lose anything. Thanks for your help, Buck.”
I just think it’s how he sets it up. I don’t know what I would tell him what to do.

Steven Jack Butala:
Totally, you nailed it.

Jill DeWit:
Yeah, I would say, let’s just to make sure all the documents read, you know, buyer, as joint attendance with right to survivorship of his wife, and everything along the way. What all, I’m trying to think what other …

Steven Jack Butala:
Well, if it’s in a trust, then it’s …

Jill DeWit:
That, too.

Steven Jack Butala:
If the contract is in a trust …

Jill DeWit:
Right.

Steven Jack Butala:
Because you don’t get deeded. There’s two ways to do this.

Jill DeWit:
That’s true.

Steven Jack Butala:
I’m sure Buck’s doing it the right way, which is just a land contract where the payments get made, the payments get made, nothing gets recorded until all the payments are made, and then the entity owns it. And the key word here is entity. So if the guy, the buyer, it’s all in his name, there’s going to be estate issues.
But if Buck sells it at asset to the trust that he sets up, as long as the trust keeps making payments, they’ll own it.

Jill DeWit:
Mm-hmm (affirmative), that’s perfect.

Steven Jack Butala:
That’s a really long complicated way to answer that question. And that’s the real problem. In fact, this is a good parlay into the show. We’re all in sales. We’re all here to sell stuff.

Jill DeWit:
Right.

Steven Jack Butala:
But none of us want to be like used car salesmen.

Jill DeWit:
Correct.

Steven Jack Butala:
So, your buyer wants something, and the answer is, it’s really complicated.

Jill DeWit:
Right?

Steven Jack Butala:
And you got to do these 15 things. And by the way, none of them have to do with me. I can’t actually do them.

Jill DeWit:
That’s true.

Steven Jack Butala:
My initial, my gut is for everybody to make it easier and do it for you, so then you sign your name. And so, he can’t set up a trust for this guy.

Jill DeWit:
No, exactly. I had that the other day. You know, I actually had someone like a deal, like, “Well, did you get with an attorney?” And I’m like, “What the heck, I can’t hire a pro-rate attorney and take care of it for you,” like you just said. Like, okay, there’s some things that has to fall on you.

Steven Jack Butala:
Yeah. That’s your answer. Today’s topic, how to get a seller or a buyer to perform. This is the meat of the show. This is also Jill’s expertise.

Jill DeWit:
So, this does tie into what we’re talking about. Because there are in a perfect world, there’s you the buyer, and the seller, or vice versa. You’re one person. Everybody’s paying cash. There’s no contingencies. There’s nothing, it’s just all sweet, happy, easy deal. And people just have to show up once, sign, hand over money, whatever.
It’s not always that easy. Doesn’t always go that way. So, how do you get them to perform when there are issues or trusts or things to untangle? And escrow documents needed, or you know, all kinds of things that always seem to pop up, right?
So, there’s a few things that I know and I prepare for over the years, and I can help you so you want to get the deal done. The whole point is, you just want people to go dark, because they’re overwhelmed. You don’t want them to get confused and unhappy and angry because they’re overwhelmed.
They’re selling to us. I’m going to start with that situation. That’s usually where it goes … But it goes both ways. You know, I’ve got a seller. He’s selling to me at a great price, and I want to make it as easy as possible for him, and I want him to feel happy and good about the transaction, because that’s kind of what I promised him. “Hey, you’re selling to me at this price because it’s going to be easy and fast, and I am all cash. But there’s some things I need from you.”
So, what I would say, there’s a couple steps. Number one is, explain the process. Let your seller know, and we’ll talk about buyers here in a minute … Let your seller know exactly how it’s going to unfold.
“Okay, you give me the purchase agreement back. Now, I’m going to call and open escrow in the morning. And I’m going to give them all your contact information. They will be reaching out to you to confirm everything. And they’re going to confirm our close date. And they might need some documents, so be prepared. And if you have any questions … ” I always say this too, because I make them feel good.
Because I’ve done a lot of transactions. I know how to work with escrow agents, and I understand their lingo sometimes. I understand how their speed and the process. So I say, “If there’s any questions, don’t be embarrassed. Gosh, sometimes they talk so fast, I have a hard time keeping up. So please, call me if you have any concerns, you don’t understand anything. Let me know, and I will help you.”
And that’s huge, and they do. They do. So, explain the process. “I want you to follow through. I want you to … ” because they’re going to be given tasks, and you need to follow through and make sure they complete their tasks with the deadlines. And explain that, “There might be some documents you need.” Ask them, make sure everybody gets them done in a timely manner, “The faster you turn these in, the faster I can get you your money.”
Follow through with what you’re supposed to do, and keep on top of what they’re supposed to do. So, you have to have a good communication between you and the escrow agent, and the seller, and then check in often. I can’t say this enough.

Steven Jack Butala:
What’s that mean, check in?

Jill DeWit:
Oh my gosh, temperature check all the time. “Hey, hi.” Even if there’s nothing going on, I want you to … Especially going into weekends. This is a little trick that I’ve learned. Because over the weekends, if Thursday and Friday pass, and no one’s talked, and now they’re going to the weekend, there’s like, this fear sets in sometimes with sellers about, “Is the deal getting worked on? Is everything happening? Now I have four days, nothing.” And it’s just a weird little thing that I’ve picked up on with sellers sometimes.
So, I would often just bust out a three minute phone call on Fridays going, “Hi, just wanted to say, check in, let you know everything’s going great. I want to make sure you have a good weekend, and we’ll connect next week with … What did they say the next steps are? Oh, good. Okay, well great, we’re all on the same page. Talk to you later.”
That’s it. And then on Friday, they’re like, “Oh.” Because I’ve had sellers reach out to me on Fridays.

Steven Jack Butala:
Yeah, of course.

Jill DeWit:
I’ve been on vacation on a Friday. I remember this one time, we were in Laguna Beach. And this deal was going just fine. Everything’s great, but this seller, it was a house deal, hadn’t heard from us for a couple days or escrow. And it just meant that everybody’s with their heads down working. And she’s calling me in a little bit of a panic. And like, thinking that I was going dark as the buyer. I’m like, “Oh, gosh, no.” I’m like, “No, everything’s great. I promise. We’re all good. And I’m here.” So you know, watch for their calls, answer the phone, that kind of a thing.
So and then, it’s easier almost on the, as when the role’s reversed. So, that’s just me as the buyer. Now the roles are reversed, I’m the seller, and I got the buyer. Your goal there, and to get them to perform is just keep them excited. Let them know when it’s going to close. Oh my gosh, and one of the things I do too is, I let them … especially with rural, vacant land, it’s very easy to say, “You guys want to camp on there this weekend? I don’t care, knock yourself out. You want to go out there and drive, have a picnic on it today? Go right ahead, I’m good with all that. It’s a piece of dirt.”
And then, because when you do that, let them go out there and drive and walk on it and love it. I’m doing one right now, as a matter of fact. This guy knows more about maps and things than me.

Steven Jack Butala:
That’s what you want.

Jill DeWit:
It was awesome, yeah.

Steven Jack Butala:
I mean I tell you, if you can get somebody who’s more excited about the property than you were when you bought it, that’s fantastic.

Jill DeWit:
Yeah, it’s him and his uncle.

Steven Jack Butala:
You’re going to sell that property.

Jill DeWit:
Oh yeah, his uncle, we’ve talked three times and he’s great. You know what’s funny is, I had one seller, or one buyer that was a little confused about where the property was. And he thinks there’s a gate with a lock on it. So I’m like, “Huh.” So, I pass on that information to this guy, and he went out and confirmed, he’s like, “No, there’s no gate. Don’t worry about it.”
I’m like, “Oh, yay.” He’s really good about it. It’s like that was, “I saw it, it’s down the road, it’s not on your property. Those guys were in the wrong place.” I’m like, yes. So, but he’s really good.
So, now I’m in the driver’s seat. I’m the seller, and I have a buyer here. How to get them to perform, I mean, the process again, that’s the same steps. And just keep them excited. And you know, what questions do you have?

Steven Jack Butala:
For you?

Jill DeWit:
Yeah.

Steven Jack Butala:
What I used to do because I was in, before Jill entirely and completely took over the sales operation in the company and times 10’d it, when I had it, I would ask questions. So that was my always … I would dream up a question and call and ask. Whether on the sell side or the buy side, even if it was fictitious. Just to make sure that they’re still in the deal.

Jill DeWit:
That’s cool.

Steven Jack Butala:
Especially with … I’m more of an acquisitions person than I am sales. And there are all of us who’ve been in the business in any capacity, if you’ve done maybe 10 deals, you know that there’s, sometimes deals come back.

Jill DeWit:
Right.

Steven Jack Butala:
And they’re the greatest deal you’ve ever seen. You’re like, “This has to be wrong.” We’re doing a transaction like that right now where Jill came running into my office yesterday and said, “This person is ready to sign.”

Jill DeWit:
Yeah, yeah, yeah.

Steven Jack Butala:
“And I need the original pdf from the mail merge, because they want to re-sign.” You know, sellers have all kinds of weird stuff going on.

Jill DeWit:
They lost it.

Steven Jack Butala:
Yeah. So, and they agreed to the price. They remembered the price, but they just want a document. So she came running in my office like …

Jill DeWit:
I need that.

Steven Jack Butala:
If you’re doing a mail merge, it can be thousands and thousands of documents in one pdf’s. So offers to owners had that document. I don’t review it, my staff does. So unfortunately, I’m sure we’ll get the deal done anyway.

Jill DeWit:
I already got it.

Steven Jack Butala:
Sellers have, or buyers, they have quirky stuff that matters to them. And for whatever reason, they wanted to see it and touch it. And who cares why.

Jill DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
So you just got, I think that falls into just provide what they want, and make sure you make contact and ask them a lot of questions.

Jill DeWit:
It’s really about staying in contact with them.

Steven Jack Butala:
Mm-hmm (affirmative).

Jill DeWit:
And the more you talk to them, you know, and I don’t want to blow up their phone. Don’t call them every day, you don’t need to do that. But they need to know that you’re there if they have any questions. And it kind of leads into a little bit about what we’re going to talk about tomorrow. Building that relationship with them and having them so comfortable with you, I can’t tell you. I know that there’s deals that for other buyers or sellers, would have gone, would have just gone away if … But because I stay in contact and I’m me, and I’m real. And they can talk to me and say, “What does this mean?” And I can explain it to them really nicely.
I don’t make them feel like an idiot, because they don’t know what this term is kind of thing, they’re like, “Oh, thank you.” I know that’s what gets a deal done.

Steven Jack Butala:
We’ve all gone to school with, or done deals with, or been married to, people who are just boring as hell.

Jill DeWit:
Oh, yeah.

Steven Jack Butala:
They’re just like, I don’t want to be around this person at all, any more. So if you’re that person, you’re not going to sell or buy. If you’re not that person … And I can be that person, believe it or not, get somebody in your business that’s like Jill, where they just can’t wait to talk to her again. That’s part of it, that’s the truth of success of this.

Jill DeWit:
That’s a good one. Oh, how to get a buyer or … This is … Oh, excuse me, erase everything I just said. Here’s what you need to do. Hire someone with a voice of like, a 25 year old hot girl. That’s how you get a seller and a buyer to perform.

Steven Jack Butala:
It’s true. Which is you.

Jill DeWit:
Thank you. There you go. That’s perfect, that’s how you get it to happen. Happy you could join us today. Five days a week, you can find us right here on the Land Academy Show.

Steven Jack Butala:
Tomorrow, the episode on The Land Academy Show is called Building Relationships With Buyers And Sellers. You are not alone in your real estate ambition.

Jill DeWit:
You know what that’s funny about that, but that’s partially true. Having someone answer the phone. We talk about this a lot when the mail goes out and these sellers call you back, and maybe they’re a little upset about your crazy offer price. Having a happy, friendly voice on the other end of the phone takes the wind out of their sales so fast. And then, you just don’t let it rattle your cage. You apologize, so there’s a lot to that.

Steven Jack Butala:
If you’re somebody who other people want to be around, and want to talk to on the phone, no matter what you choose in life, it’s going to work.

Jill DeWit:
That’s good.

Steven Jack Butala:
You know, it might be buying and selling real estate. It might be land. It might be selling cars. It might be neurosurgery.

Jill DeWit:
It’s good.

Steven Jack Butala:
You’re going to get way further than anybody else. But if you are an your type person just walking around, that’s who you truly are, then you need to spend some time in the mirror and change your personality when you’re out in public. And that’s the truth. I honestly, that’s what I do. Jill’s the only person on this entire planet, and maybe our kids, sort of, who actually knows who I am.
I’m not going to … And she still likes me, and that’s her problem, not mine.

Jill DeWit:
It’s not that bad.

Steven Jack Butala:
You really need to …

Jill DeWit:
You’re not [crosstalk 00:15:17].

Steven Jack Butala:
You need to … I don’t mean that. I’m just using myself as an example for fun.

Jill DeWit:
Yeah.

Steven Jack Butala:
But you got to be, everybody wants a performance. Trust me.

Jill DeWit:
It’s true, it’s true. By the way, if you would like the opportunity to ask me some questions live, please join me every Tuesday, like starting tomorrow, at 3:00 Pacific Time on The Land Academy Facebook Page. Or, The Land Academy YouTube Channel.

Steven Jack Butala:
We’re Steve and Jill.

Jill DeWit:
We’re Steve and Jill.

Steven Jack Butala:
Information …

Jill DeWit:
And inspiration …

Steven Jack Butala:
… to buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

Failing Repeatedly is First Requirement to Stay on Course (LA 1413)

Failing Repeatedly is First Requirement to Stay on Course (LA 1413)

Transcript:

Steven Butala:
Steve and Jill here.

Jill DeWit:
Hi.

Steven 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 Butala:
Today Jill and I talk about failing repeatedly and how it’s the first requirement to staying on course.

Jill DeWit:
This is clearly a Jack topic.

Steven Butala:
In hindsight, it could have been a different title, but what it really means is this. You got to be comfortable with the fact that some stuff’s going to go wrong and sideways. It does with everything in life. And if you just get through the parts where it’s not working, it’s not working, eventually it’s going to work. If you try hard enough at it, or either decide that it was not for you. I talk about this really early on in the Land Academy years about I will never play the guitar. I just won’t. And it’s not because I can’t learn how to do it. It’s just that I don’t enjoy the process. The end, it doesn’t justify the means and all kinds of stuff. It’s not that I’m not smart enough. I just don’t, for whatever reason, make it a priority.

Jill DeWit:
On that note, if you look on OfferUp right now, you’ll see four left-handed guitars for sale.

Steven Butala:
Yeah. It’s true. Yeah, just because I bought a cool guitar doesn’t mean I really know how to play it at all.

Jill DeWit:
Yeah. I know where you can get a great price on a guitar right now.

Steven Butala:
And I tried and failed and tried and failed and decided nope.

Jill DeWit:
Not for me.

Steven Butala:
You know what? I tried and failed in my land career, too. Tried and failed, tried and failed.

Jill DeWit:
Well, that sung to you.

Steven Butala:
Yeah.

Jill DeWit:
That made sense.

Steven Butala:
But I decided I was still going to try because I want to do it.

Jill DeWit:
Okay. Let’s talk about this more than the show because this will be a fun thing to talk about, things that we thought about and then we didn’t pursue. Okay.

Steven 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.

Jill DeWit:
Jessica F… Hello, Jessica, wrote, “Hello all. I’m wondering what kind of due diligence you do related to the neighborhood the property is in? Do you analyze, if at all, if the property is in a nice neighborhood versus a not so nice one? How do you know where the desirable areas of town are outside the prices of houses sold? Are there specific indicators you look for, either good or bad, that can tell you more about a neighborhood beyond just the numbers of properties listed and sold?” Thanks.

Steven Butala:
I can tell you that with extreme confidence, I don’t look at this at all, not a single bit. And here’s why, because if I look at days on market, if I look at date DOM, days on market, in a place, let’s say, the Rust Belt is famous for having… I’m from Detroit. So there’s terrible neighborhoods in Detroit. There has been since the 60s. But if the days on market in those markets was within a range where we actively invest, I would be buying there. I don’t care why people buy property or don’t buy property or what they’re looking for. But if 50 properties sold in the days on market in any market, there were 50 properties… You have to take all the three statistics from the red, green, yellow test, and look at them together because… But I’ll tell you what, if you don’t have time to do that, or you don’t have the interest or whatever, days on market is going to smoke it all out for you.

Jill DeWit:
So what I think you’re saying is the numbers speak for themselves, which is I like this.

Steven Butala:
This is for land only. For houses it’s a little different,

Jill DeWit:
Well, I was actually going to put it on houses a little bit too, because follow me on this here. The numbers should tell the story. Days on market are low within X amount of whatever radius you choose. Maybe it’s a zip code. Maybe it’s a radius. I’m not sure, whatever it is. Price per square foot, oh, you’re rocking it kind of thing. After that, am I going to look up the school system? No. Am I going to see what’s going on in the Main Street and how many events they have each year? No. Am I going to look at how pretty things are? No. So I think that we’re on the same page and I think, and again for land or houses, it’s really still numbered.

Steven Butala:
The only thing that would come into play for me with houses is the entire subdivision or in some of the Rust Belt cities’ cases, was it built between 1918 and 1939? Because those houses are so hard to renovate and just keep up and all that.

Jill DeWit:
But that would probably be reflected in days on market.

Steven Butala:
Yes it would. So that was my final point. All those things naturally affect days on market, just because buyers don’t want to buy there or the prices adjust themselves and all of that.

Jill DeWit:
Right. That’s exactly right.

Steven Butala:
So if I were a house renovator and I had a show on HGTV, I would look at what Jessica’s talking about here.

Jill DeWit:
That’s what I said. Or if it was a primary residence. Because and that’s the thing, the saying is still true. Are you going to win emotionally or are you going to win financially? So if you’re going to win financially, you’re not going to look at this stuff. You’re going to look at just the numbers and let that tell you what to do. If you want to win emotionally because you want to live there and you want a different school system and you want to have a safe park to walk to, now you’re looking at that stuff.

Steven Butala:
Right. Today’s topic, failing repeatedly is the first requirement to staying on course. This is the meat of the show.

Jill DeWit:
I have one more thing to add about that.

Steven Butala:
Sure.

Jill DeWit:
I don’t have the time. That’s my other thing. I’m doing so many deals. As you know, we have so many things going through our stuff. I don’t have time to spend to get to know the area like that and see how the school is ranked in the nation and that kind of stuff. That takes a lot of time.

Steven Butala:
We’re in the process of wrapping up what I think has been extremely successful mailer campaign in the very center of the country. And it’s not the nicest place in the world, but the days on market are amazing. All the other real estate tests that we look at, like how far is it from major cities? All of those, the tests that we talk about over and over and over again about where to send mail, it passed all those tests and the mailer did well.

Jill DeWit:
Exactly.

Steven Butala:
And it’s not the nicest place. It’s just not the nicest place when you look at it. But everybody wants to be there. That’s all I care about. So Jill was asking right before the question, what have you failed at?

Jill DeWit:
Oh yeah. So okay. So you mentioned the guitar. I’m thinking, I like to think… You’re going to tell me if this is right or not. I like to think that I’ve failed enough and I have created my own little list of conditions that I won’t invest money in something unless I know. For example, remember back when I was making jewelry?

Steven Butala:
Yeah.

Jill DeWit:
I was never going to make money at that. It was just kind of a fun thing. I thought, well maybe on the side I could make some money doing jewelry, right. This is so weird. Right? You never thought you’d hear me say this.

Steven Butala:
[inaudible 00:07:19] it was just a hobby.

Jill DeWit:
I did. So but then I invested a bit of money into this, getting all the tools and classes and I almost bought a kiln, but I didn’t. But so there’s a lot. And then at the end, after two years, what happened? I kept my favorite pieces and then I donated everything else. So someone else got a bunch of tools, great stuff. I didn’t care. It was a Goodwill event and that’s fine. So now I’m like, I catch myself because we’ve all had a few of those in life. And I’m like, now I have my own little mental checklist. I’ll be somewhere and I’ll go, “I want to raise horses.” For example, we talked about, I want a horse. Wouldn’t this be a great thing, right? Because we’re looking at properties, I’m looking at cabins and stuff with some land. I’m like, “I can finally get my horse. This is what we’re doing.” And I’m like, “Whoa, whoa, whoa, whoa, whoa.”
Before you go down that path and buy a horse and figure out where to put them and what’s going to happen, who’s going to train them and do it when you’re not there. How bad do you really want to do this? So, because I would fail. I know that even though it’s kind of a loose example, but having a horse, raising a horse, come on. That’s not my thing. I don’t have time for it. I would maybe go ride it once a month or a couple of times a month. Is that worth owning your own horse? No. I could rent a horse or borrow my neighbor’s horse and pay them something. And that’s the best way to do it, so.

Steven Butala:
I’ve had a lifelong love-hate relationship with long-term care facilities.

Jill DeWit:
Yeah.

Steven Butala:
I cut my teeth after the accounting portion of my career. We were buying and selling nursing homes and brokering them effectively, brokering them pretty, very effectively. And I successfully, very successfully from a fee driven standpoint, then I got involved in ownership. Then I got involved in management and the whole idea was to vertically integrate myself. And we were going to buy pharmacy company and in-home health and one of the companies we actually took public and eventually that didn’t work out. So I had a lot of successes and a lot of failures. Then ultimately decided not to get involved in it or stay involved in it at all. I always had a land business on the side while I was doing this and always loved it. It just required so little of my attention and gave back financially so much.

Jill DeWit:
Land?

Steven Butala:
Yeah, land. But this is back kind of before the internet. And it was in the early 90s before the internet was a household thing. And so there was still people that you really respected. And some of it’s still now you take companies public and there’s big dollars and everybody’s wearing a suit to work. So I was young and that was really impressive and worked for me at the time.
You get older and it’s just like, you know what? All this is just a bunch of, it’s just not real. And so healthcare itself, too, it’s really you have to start to ask you a question yourselves, I don’t know, should I be making this much money owning a healthcare facility? We’re trying to provide care. Is a nonprofit better? A for-profit better? So there’s all these things that just kept doing pros and cons. It kept happening for almost a decade before I finally said, I’m just going to buy and sell land.

Jill DeWit:
Doesn’t mean it wasn’t going to work. Just you decided it wasn’t for you.

Steven Butala:
Exactly. That’s the same thing with the guitar. It’s not a priority enough. There’s enough things, enough hurdles and enough stuff that I have to do that I’m just not going to dig it to make me stop.

Jill DeWit:
So it was the point then that tells me, I think the point today is you got to try a bunch of stuff and you’re going to fail, but one of them is going to go, this is it. It’s almost like we talk about your niche will find you sometimes not like you find your niche. Once you get into just even within our world, there’s so many different kinds of properties you can invest in and things you can do that one will rise to the top. You’re going to be the pro of X over here because you realize no one else is doing it and you’re going to do great. And you’re going to kill it over there.

Steven Butala:
I’m just not… You’re actually better at this than I am. I am not afraid of failing. I don’t take it personally. I’m not afraid. There’s a couple of pieces of property that we have in inventory still that we’re probably going to have to, if we want to get rid of them at all, we’re either having to step up marketing to the point of insanity or we’re just going to have to sell them at a lower price just to get them moved. And I don’t look at that as a failure. I think that’s kind of funny.

Jill DeWit:
Yeah, I don’t care. I don’t care about-

Steven Butala:
I think it’s a natural course of this.

Jill DeWit:
Because you know why? Well, because we’re not into it. We’re not into it. That’s why. These whatever properties we’ve had them so long. I don’t know why we stopped caring about them, but we kind of did. So this is really seriously my lack of excitement is your gain. You can have them kind of thing.

Steven Butala:
My point is, I’m not just your… And Jill is just fearless. She doesn’t care what people think on the phone. She’s truly fearless when it comes to business and deals and all of that.

Jill DeWit:
Thank you. Thank you.

Steven Butala:
So again, there’s some new members coming on and they’re asking questions as they should. And one of the questions I get a lot, and this is usually way before people join, this is over at a cocktail party, maybe. So you’ve done all these deals. Well, how many did you lose on? And I wouldn’t be standing here in front of this whatever house that we’re standing in that’s ridiculously expensive if we failed at a lot of them. So but I get that question a lot. And I think that the kind of person that asks that question is, do you fail at 49% of them and make it at 51%? Or I mean, I think that there’s a personal thing. It’s like-

Jill DeWit:
Do you fail at nine and make it at one? I mean, you know what I mean?

Steven Butala:
I don’t know. I-

Jill DeWit:
We don’t.

Steven Butala:
We don’t. Of course not.

Jill DeWit:
We don’t and that’s not why we would be here. But I have this right, so the-

Steven Butala:
I don’t think of it that way.

Jill DeWit:
So if you’re new, you’re starting out and you’re trying to get into this and you’re wanting to stay on course, please plan on failing.

Steven Butala:
Yes.

Jill DeWit:
Please plan on making a mistake.

Steven Butala:
Thank you for stating the obvious.

Jill DeWit:
This is going to happen. And we’re going to tell you again, I’m going to repeat what we have said many times before. We’re not going to let you fall that far. We’re right here. If the only reason you would not be successful is if you don’t use us and use your resources, if you are not positive about some of your decisions, you better be on that Thursday call and giving us the deal and we’ll review it for you and we’ll redo it with you so you can go, “Ah, I got it.”
And you have questions about you’re going to fail talking to sellers. That’s why I’m here. Ask me about it. I will tell you and go back and listen to some of our stuff all about it. We’re right here. We really mean it when we say you’re not alone. Yeah, it is in the… Do we say that to end of this show? Yeah, we do. Yeah, you’re not alone. We’ll help you. But I want you to plan on making some mistakes. It’s not going to be perfect. You’re not going to be perfect. There are a lot of moving parts, but we’re here to help you every step of the way. So it’s not going to be catastrophic. Like that?

Steven Butala:
Yeah. Perfect.

Jill DeWit:
Thank you. I got a tickle in my throat. Do you have anything else you want to add? Okay. Happy you could join us today. Five days a week you can find us right here on the Land Academy Show.

Steven Butala:
Join us next week for another interesting episode. You are not alone in your real estate ambition.

Jill DeWit:
See, there was that phrase, in a good way, in a great way. Thank you for tuning in. We hope you find our content valuable and we really appreciate your support. If you haven’t already, please check out our YouTube channel and hit the subscribe button.

Steven Butala:
And your comments and suggestions help us to create the type of content you’re here for. Hitting the like button on your favorite episodes helps to support our channels algorithm and gauge your interest in future shows.

Steve and Jill:
We are Steve and Jill.

Steven Butala:
Information…

Jill DeWit:
… and inspiration…

Steven Butala:
… to buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

Understanding Money in Life (LA 1412)

Understanding Money in Life (LA 1412)

Transcript:

Steven Butala:
Steve and Jill here.

Jill DeWit:
Hi.

Steven 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 Butala:
Today Jill and I talk about understanding money in life. And no, this is not going to be a lecture.

Jill DeWit:
Okay.

Steven Butala:
Jill said yesterday she’s concerned this is going to be a lecture, no, it’s not. This title came up for me, and it obviously made it to the light of the show because people ask me stuff, all the time, and I have been walking around the planet incorrectly perceiving a couple of things for quite some time. And I think it’s funny that I’ve been misconceiving this, so we’ll talk about it in a minute here. I think people understand accounting, just because I have an accounting background, and I think people understand real estate, and it’s just not correct. People need to understand, or I need to be more clear, I guess I should say.

Jill DeWit:
Okay.

Steven Butala:
Are you taking notes?

Jill DeWit:
I am.

Steven Butala:
About what?

Jill DeWit:
Not about that. No, I’m just taking notes and thinking about some things I want to talk about with this.

Steven Butala:
Nobody understands money better than Jill, and I mean that. Most of the people I’ve ever had any type of relationship with are true cost center, and Jill is truly a walking profit center, and I’m amazed by her all the time. Whether it’s at the grocery store, or buying a primary residence, or buying a trailer park, she just gets it.

Jill DeWit:
Thanks.

Steven Butala:
And I don’t think there’s any better compliment, well, there’s probably some better compliments, but-

Jill DeWit:
Yeah, thanks.

Steven Butala:
For a former accountant, there’s no better … it’s hard to find a person like that.

Jill DeWit:
Thank you.

Steven Butala:
Before we get into it, let’s take a question posted by one of our members on the landinvesters.com online community, it’s free.

Jill DeWit:
For the record, I think I learned … there’s some stuff that you taught me along the way, and really helped with, so thank you. I don’t get all the credit, you helped. You’re good, you’re awesome. All right, James wrote-

Steven Butala:
This is a repeat question.

Jill DeWit:
Oh.

Steven Butala:
I made a mistake. It’s actually from last Tuesday’s question.

Jill DeWit:
Let’s sub it with a different question. Or make up a question.

Steven Butala:
Yeah, make up a question is what I was going to say.

Jill DeWit:
Okay, let’s make up a … if I were going to read a question today, want to just read this one?

Steven Butala:
Yeah.

Jill DeWit:
Okay, I’ll read this one.

Steven Butala:
Okay, sorry.

Jill DeWit:
Okay, Luke M. wrote, “Hey guys, I hope everyone had an amazing Christmas. I’m looking into Landmasters for helping me with mail merging and data scrubbing. I want to hear everyone’s input if they have experience with them, or any suggestions on another VA service with these features to help me with the data part of the business. I’ve heard Jack and Jill mention outsourcing what you aren’t good at, and focus on the strengths to be more productive. I suck at the data side of the house, and I was curious if anyone had a better company for these components, or if anyone’s had a bad experience with Landmasters’ services. Thanks so much, and happy new year.” I want to add one little thing first real quick, don’t worry anybody about mail merging, because O2O, offers to owners, will automatically do that for free. Now, that’s-

Steven Butala:
Landmasters, here’s the story of Landmasters. It’s a group in the Philippines, run by an amazing person named Jillian. And she and her group, they contacted Jill and I years ago, at least two years ago, right?

Jill DeWit:
Oh gosh, more like four or five years ago. Four, I want to say.

Steven Butala:
And so, at first, I’m like, who the heck are these people, and why do they want to infiltrate our stuff? And we don’t need any help, and we’ve got a lot of stuff in place. And then after about a month of trying her out, she probably had two people at that point, she’s probably got 50 now.

Jill DeWit:
Right.

Steven Butala:
I really realized her work ethic, and the firs day was just like yesterday for us, they go the extra mile. I can’t thank them enough. So there’s a lot of people in our group that use Landmasters, and you’ll find them. Just contact anybody, or our support at Land Academy. We don’t have a formal agreement with them, we don’t make any money off of each other, there’s none of that business going on. But she just gets it.

Jill DeWit:
Mm-hmm (affirmative).

Steven Butala:
That said, I would not, this is personally now, ever outsource the data part of this, ever. I would find somebody like me in a group, that needs somebody like you, Luke, who if you’re not a data person, you’re probably on the other side, like Jill is. You need to find a Steve, the way that I found a Jill, so that you can really together complement each other, and have different talents, and Jill, there’s not a week that goes by that I don’t say to Jill, what would we do without each other? There’s two of us, and it’s so much easier.

Jill DeWit:
Mm-hmm (affirmative).

Steven Butala:
And it’s not just the data and the sales part, it’s just bouncing stuff off of a partner, or saying, “You know what, this isn’t working. I need another set of eyes on it”, or “Should we do this deal? It came in, I’m not sure.” So I would really, seriously encourage you to get some type of business partner. What’s great, Luke, and I encourage everybody to do this, is to really sit down and say, if I had a partner, what would they be? What would they look like? Because it’s just changed my life, when Jill and I joined forces.

Jill DeWit:
You know what I would use them for, when you’re starting out, though? If your time is critical, there’s a lot of things that you could have input into a spreadsheet that will help you do your due diligence, I would totally use them for that. Like say once a week you send them all these properties that came in, and they fill in the back tax information, and they pop in some images for you. They can double check the flood stuff for you, they can check the zoning for you, or there’s some calls to the county that you need, or something like that. They could do some of that really monotonous, look it up, plug it in kind of information, and that would speed up your work.

Steven Butala:
Exactly.

Jill DeWit:
That’s a great place to start. And then how you do that is make them videos. Give them access to wherever you want the information input, and make them real simple, step by step videos where you’re screenshot, showing them where you want them to look it up, where you want them to plop it in, what the numbers are, and then let them go. And they’ll do that, it’ll be great.

Steven Butala:
Yeah, since we started, the rule has been if you can film it in a less than three minute video, like a screenshot, not yourself, but a screenshot of what you’re doing, some repetitive task, and they do it over, and over, and over again, populating databases. Like they can do the red, green, yellow test, there’s all kinds of stuff like that that they can … they’re very good at. I heard they’re answering a few people’s phones right now. One person even has somebody giving them parameters on negotiating a deal, certain deals, so there’s a lot of different … and Jillian’s constantly expanding the services she provides. So I mean, this is not a formal endorsement, but we wouldn’t use anybody else.

Jill DeWit:
Yeah. If you’re going to use a VA, we really trust them. That’s it, they’ve got the experience and the trust with us.

Steven Butala:
Today’s topic, understanding money in life. This is why you’re listening. This topic came up because, like all topics it seems like this week, I’ve answered it probably three times separately for people, recently, and so then it becomes an episode.

Jill DeWit:
Mm-hmm (affirmative).

Steven Butala:
So I think understanding money, I was talking to somebody at a party, actually, I don’t know when it was. Last weekend, or during the holiday season, and I’m just amazed at how there’s such lack of education for stuff that really matters. Like in high school, I don’t know, Jill and I are old enough to remember home economics. I think they call it health now. But why isn’t there an entire high school class about money, and budgets, and just basic stuff on the pros and cons of a mortgage, and just basic, basic stuff that all of us seem to have to figure out on our own, and fail at a few times before we get it.

Jill DeWit:
And a lot of kids, like me, growing up, my parents didn’t talk about that stuff in front of the kids.

Steven Butala:
Me either.

Jill DeWit:
That was behind closed doors, kind of thing. We didn’t know what the mortgage was, or what the payments were going to be, or interest. And if parents were, even if they were worried about it, or any of the decision making process, that would have really been helpful. All we had was home ec, like I learned how to make brownies. Big deal. I learned how to sew a dress-

Steven Butala:
Yeah.

Jill DeWit:
Trying to think. I maybe had to write a check, big flipping deal. But even that, I don’t know if they do that anymore.

Steven Butala:
Right.

Jill DeWit:
So now kids don’t even know what a check is, okay, they know what Venmo is-

Steven Butala:
That’s okay, though.

Jill DeWit:
They know Venmo, they don’t know how to write a check. You’re right, and we had typing skills, don’t have that anymore.

Steven Butala:
You know what they have now, and all of us obviously do, is Google. So that, and this is the point to my topic today, you’ve got to ask these questions about it. So I see younger people of all ages going to Google, asking a question, me included, I think I get the answer, and that’s it. And I’d spend that much time on it. That’s the problem. If you’re going to get a mortgage, you’ve really got to go ask some people that have an unrelated interest in however you’re going to do it, meaning they’re not going to make any money off of you, not a mortgage broker, to explain how the whole thing works, and then my whole point to this is you’ve got to do some research. Money’s important as hell to me, and I think some people can’t stand the topic, and don’t care, and think we all should ave it, and it’s just how it is.
But understanding money in life, really to me, means doing a lot of research on every single thing, financial decision that you’re going to make. And doing a budget every month, and looking at a bank statement every month. Balancing a checkbook, which we never have to do anymore-

Jill DeWit:
That’s true.

Steven Butala:
That really forced you to-

Jill DeWit:
That was my job. Like for years, early on, when we had to do that, that was my job. Not with my parents’ family, but other stuff.

Steven Butala:
Yeah.

Jill DeWit:
So yeah, that’s interesting.

Steven Butala:
I grew up in an environment where, for whatever reason, having a car payment was like the devil.

Jill DeWit:
Yeah.

Steven Butala:
But I’ve talked to people my age, and obviously younger, that say they were always taught that having a car payment was an investment. It would get you to the places you needed to go to make money, which I think is just a crack up.

Jill DeWit:
Yeah.

Steven Butala:
So understanding money in life has to do with asking a lot of questions, and putting all the little pieces together that go into what you’re spending, and what you’re bringing in every month.

Jill DeWit:
Do you have any big words of wisdom for our brand new investor, with a family, with a wife and kids. It’s 2021, I’m listening to this show for the first time, I’m married, I have a lovely wife, I have a five year old and a two year old. Their names are Skip and Ricky. Dreaming this up here. And we live in Houston, and we have a dog that we just got the boys for Christmas.

Steven Butala:
Oh, jeez.

Jill DeWit:
So now you understand why I need to make this extra money, okay? Oh, and I have a mortgage, by the way. We have a $250,000 house that we’re paying a mortgage on. All right, I don’t want to move, I just want to get this going. I need to make more money. I have a job, but every day it’s touch and go. I don’t know if it’s going to stay there, and … we don’t need more. So I found Land Academy, or I found something else, whatever it is, I want to be an investor. Let’s just say I found Land Academy, I want to be an investor, what the heck is this understanding money in life, because this is the one show that I tuned in on because I want to make sure I can do this. What words of wisdom do you have for me?

Steven Butala:
Well, you obviously have a job.

Jill DeWit:
Yes.

Steven Butala:
And maybe your spouse does, [inaudible 00:12:38] your wife.

Jill DeWit:
No, she’s stay at home.

Steven Butala:
All right, so theoretically, then, your job’s covering your costs.

Jill DeWit:
Yes.

Steven Butala:
Or it’s coming really close, plus or minus. Hopefully you’re at zero or better, or in the black. Do not touch that money to do any investing. You hold onto that job, and you deal with it, and go on your way in that job as if you’re going to work there forever, because that’s the people that are above you want to see out of you.

Jill DeWit:
Okay.

Steven Butala:
You get involved in the Land Academy thing, or whatever you choose to do, or the Convenience Store Association of America, if that’s what you want to do. And you research the hell out of it for a few months, we’re not even getting into the money yet. All this stuff is free, research the heck out of what you’re going to do, or what you want to do, or what’s possible. It might be that at the end of six months, you just haven’t found it, it didn’t work for you. This is my whole life. I still do this stuff. I just looked at buying a nursery, like for plants, because everybody’s sold out. So I still do this stuff, to this day. I have no business owning a nursery, and I’ll never buy it, but I still just think it’s fun.
So do a ton of research, don’t borrow any money, and learn how to buy and sell property. And at the same time, find a business partner like us, and that’s yesterday’s show. Find a partner, a place to get the money, in the form of a partnership, and somebody to learn from. That would be my recommendation.

Jill DeWit:
Thank you.

Steven Butala:
What would you recommend?

Jill DeWit:
No, I have no changes. I’m just asking. I’m the guy.

Steven Butala:
I think that your cute little story is-

Jill DeWit:
That’s a lot of people.

Steven Butala:
Assuming that … no, but I know, I think you’re assuming that they’re at zero. Because that’s at zero.

Jill DeWit:
Yeah.

Steven Butala:
But I think more people are in the red than are at zero.

Jill DeWit:
Oh, that’s true.

Steven Butala:
And so piling that stress on yourself, the am I going to pay my rent this month? Or a mortgage? That’s tough.

Jill DeWit:
Mm-hmm (affirmative).

Steven Butala:
I think that before you get into a Land Academy environment, you might want to address that, what’s going on there.

Jill DeWit:
There you go. Understanding money in life, to me, is sounding like … this makes me think of how much do I need? How much do I think I need, and how much do I really need? And making conscious decisions.

Steven Butala:
Yeah, so I mean, how much do you think you need?

Jill DeWit:
How much do I think I need? I think I could live on $5,000 a month.

Steven Butala:
So do I.

Jill DeWit:
Okay.

Steven Butala:
That’s great, Jill.

Jill DeWit:
Thank you. Now, how much do I want to do? Well, way more than that, obviously, but I know I could. I could live somewhere else, I wouldn’t be living on the beach, and that’s okay, but I could be living, and having a nice life. So for me, just wrapping up on this, I’m just thinking big picture, and I hope that gives you something else to think about, too. Okay, we’ve got to have money, and we have a long way to go here, hopefully you have a long life, I don’t know what I’m saying, a lot of years to plan this out. Hopefully you’re young, and I would just be thinking about what do I really need? Setting goals. I like thinking about money and life, right now, 10 years from now, and I don’t know, 25 years from now, and getting myself on that plan, and being conservative and smart. And realistic. That’s the part that’s hard for people.

Steven Butala:
You know what I think? Money doesn’t play an accurate role, or an appropriate role, in the vast majority of people that I know.

Jill DeWit:
What does that mean?

Steven Butala:
You need to sit down every week, if not every day, I do it every day.

Jill DeWit:
Oh.

Steven Butala:
And think about it, and understand it, and respect it, and save it, or spend it, or whatever. But I just grew up in an environment like that. My dad was an accountant, and we talked about money all the time. And not in a bad way, in a good way.

Jill DeWit:
[crosstalk 00:16:36]-

Steven Butala:
It was taken very, very seriously. And I don’t see people taking it seriously. I see it, especially in our government right now, which I don’t want to get into, but it’s just like, I’ve never, never, ever seen the kind of spending that’s going on. And in all governments, especially in California.

Jill DeWit:
I did not grow up that way, and your way is better. My mom paid the bills, everything got paid. My mom paid the bills at the beginning of the month, and we’d live on what’s left over. My dad, we’d go out and do all kinds of stuff and then try to pay the bills at the end of the month. It was awful. My mom was like, “You can’t do that anymore.” So it was kind of weird. So it wasn’t until I was an adult, and getting out there, and paying my own bills, that I really understood the value of money. I really understood budgeting, and planning, and making sacrifices. And sometimes, I think this is a huge point that you have to learn to sacrifice to get where you want to go.

Steven Butala:
Exactly.

Jill DeWit:
And a lot of people can’t do that. They’re all very, I want it now, short term, I’ve got to have this. No you don’t, just wait.

Steven Butala:
The two things that are going to cost you the most money, ever, in your life are marriage and children.

Jill DeWit:
Even more than colleges? College education, is that up there, too?

Steven Butala:
Oh gosh, jeez, college is a profit center, the vast majority of the time.

Jill DeWit:
I hope so, yeah. Okay.

Steven Butala:
Well, let’s say to get a four year accounting degree, which will pay out in spades, even now-

Jill DeWit:
If you choose the right program.

Steven Butala:
Yeah, I mean, that goes without saying. If you’re going to get a bachelor of arts degree-

Jill DeWit:
That’s what I’m saying, you spend $200,000 on it-

Steven Butala:
Medieval literature, that’s not going to pay out. But no, a four year college degree at a state school is probably a hundred thousand? Maybe less.

Jill DeWit:
I think, I don’t know.

Steven Butala:
I don’t know, prices change so much by region and all that. But I think that’s, for tuition anyway, that’s pretty close. Maybe a little more. But you’re going to make that the first year.

Jill DeWit:
Cool.

Steven Butala:
So, I can’t believe that college is an expense. No, I think that … I mean, it used to be this. Two very young people get together, however you want to describe that, join forces, pay one rent instead of two, now you have dual income, you hold off for having kids for at least 10 years, maybe more, have separate bank accounts, have the same bank account, like this is if the planets are lined up. And after a bunch of years of renting, have enough money to put a substantial money down on a mortgage, that’s the perfect way.

Jill DeWit:
Right.

Steven Butala:
So if you’re super young listening to this, there’s an order to do these things in. But we all just love to mess our lives up, I guess, sometimes.

Jill DeWit:
Apparently we do. Happy you could join us, five days a week you can find us right here on the Land Academy Show.

Steven Butala:
Tomorrow, the episode of the Land Academy Show is called Failing Repeatedly, It’s The First Requirement To Stay On Course. You are not alone in your [inaudible 00:19:42] ambition. We’re just full of happiness and happy titles in the first week of the year.

Jill DeWit:
I’m like, what the heck? Those are not what I thought we talked about. Gee, man. But thank you for staying with us on this, this episode was a journey. I think we covered about four episodes in one on this-

Steven Butala:
Really?

Jill DeWit:
We did, it was all over a little path, but that’s okay. Again, this was a journey show. Thank you for tuning in. We hope you find our content valuable, and we appreciate your support. If you haven’t already, please zip on over to our YouTube channel, and please hit the subscribe button.

Steven Butala:
Your comments and suggestions help us to create the type of content you’re here for. Hitting the like button on your favorite episodes helps to support our channel’s algorithm, and gauge your interest in future shows. We’re Steve and Jill-

Jill DeWit:
We’re Steve and Jill-

Steven Butala:
Information-

Jill DeWit:
And inspiration-

Steven Butala:
To buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

Value of our Thursday Deal Review Webinar (LA 1411)

Value of our Thursday Deal Review Webinar (LA 1411)

Transcript:

Steven Butala:
Steve and Jill here.

Jill DeWit:
Hello.

Steven 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 Butala:
Today, Jill and I talk about the Value of our Thursday Deal Review Webinar.

Jill DeWit:
Webinars.

Steven Butala:
We just did some math, Jill and I, before the episode, and we calculated that between 2016 and 2020, once a week, we do between an hour and a half, usually two to sometimes four hours of webinars with our members. And the vast majority of it is taken up by us playing out the scenario called would you do this deal? And so there’s just 500 hours of this in there.

Jill DeWit:
You’re explaining the whole show. Should we [crosstalk 00:00:53] show?

Steven 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.

Jill DeWit:
Tom wrote, “We’d like to find the right accountability group with a good fit on pace and goals. I have preconceived ideas of my strengths and weaknesses,-

Steven Butala:
So do I, Tom.

Jill DeWit:
– but I may find out differently in practice. Excited to get going.” Isn’t that true? You don’t know until you get in there. You don’t know about any of those till you get in there. You’re like, “Oh, I’d think I love to do this. No, I hate to do this” or, “Yeah, I’m good at paperwork. Oh my God, I suck at deeds.”

Steven Butala:
I’m great at being single, not so much at being married.

Jill DeWit:
Anyway…

Steven Butala:
I have some preconceived ideas of my strengths and weaknesses, too.

Jill DeWit:
I’m good at practicing getting pregnant. I suck at being a mom. Just kidding.

Steven Butala:
Oh, my God, Jill.

Jill DeWit:
I’m just kidding.

Steven Butala:
Where does that come from?

Jill DeWit:
Not me. [inaudible 00:01:46]. You were giving some wild-

Steven Butala:
The perceived ideas about yourself.

Jill DeWit:
Oh, sorry.

Steven Butala:
Not in judgment of other people. Wow, that took a right turn.

Jill DeWit:
No, I [inaudible 00:01:59]. All right, everybody erase that. Okay. Yeah, there’s no do-over button here, is there?

Steven Butala:
We’re not going to edit that out, no.

Jill DeWit:
I know that. I’m well aware of that. You know what the last time you edited something for me, it’s probably been over a year.

Steven Butala:
Yep, it’s true.

Jill DeWit:
I was probably crying. There was probably something that made me cry. I was having a really bad day.

Steven Butala:
I have to say… And I’ll tell you, you’re right, edited out… probably a year.

Jill DeWit:
Yeah. Definitely a year.

Steven Butala:
But we have had to start and stop over several-

Jill DeWit:
You know what it probably was… truth time. I’m sure you and I were getting into it. I think the last time I said, “Oh, we got to do this over,” because you and I were getting in to it about something, [crosstalk 00:02:44]. Nobody’s going to want to hear this, including me.

Steven Butala:
I listened to a podcast once… I think it was with you… about two people trying to have a podcast together, and they were married [crosstalk 00:02:54] and probably not married anymore actually.

Jill DeWit:
They were getting into it. Yeah, I have to-

Steven Butala:
I have to say that was a lot of fun to listen to.

Jill DeWit:
Yeah. So next time I promise we won’t cut it. We’ll just let it roll. So if we get into it, you decide… If you think we’re getting into it, you’re the judge.

Steven Butala:
It’s always fun to watch or listen to other people failing at stuff. So it makes you just feel better about yourself. That’s what the whole premise of reality TV is I know I’m I got some weird things going on with me, but I’m not as bad as that guy.

Jill DeWit:
That’s very true. Like those hoarder shows… I’m like, “It will never be me.”

Steven Butala:
So, Tom, I understand your sentence “I have preconceived ideas on my strengths and weaknesses.”

Jill DeWit:
Well, and, luckily, you have me to tell you what you are good at [inaudible 00:03:44].

Steven Butala:
Who, me? I thought you meant Tom.

Jill DeWit:
I’m here to tell you, not Tom, your strengths and weaknesses. But maybe, Tom, maybe, if I happen to be in one of the accountability groups that you’re doing, I can help you there too.

Steven Butala:
No, he’s trying to find one. And then our staff jumped in on Land Investors because we’re starting an accountability group next week. It’s on Tuesday at 5:00 PM, so watch your email.

Jill DeWit:
Yeah. I have no idea how the group was selected, who is in it…

Steven Butala:
It’s open.

Jill DeWit:
I have no idea. I think it might be limited number of seats, though.

Steven Butala:
It’s not. We talked about all this with the… I got it all under control.

Jill DeWit:
Well, that’s fine.

Steven Butala:
But everybody did say… And even other members said, we’re just waiting for Jack and Jill’s…

Jill DeWit:
How are we going to have unlimited and go around the table?

Steven Butala:
We’re not.

Jill DeWit:
Oh, okay. So, it is limited.

Steven Butala:
I went way down the path with this with our staff. It’s going to be cool.

Jill DeWit:
Okay. Got it. Anyway, back to Tom’s thing. So they’re here, and they’re coming, and we’re going to have different levels of accountability groups. So you probably already know about it.

Steven Butala:
Today’s topic, the Value of our Thursday Deal Review Webinar. This is the meat of the show.

Jill DeWit:
I’m looking to you. You started to talk. I can explain the [inaudible 00:00:05:09]. Would you want me to go first?

Steven Butala:
Just here, I’m going to start with math, like everything. Like I said earlier, we have about 500 hours combined plus or minus of historical… Jill and I sitting just like we are right here on a webinar with all the members who were interested in participating in this, and it’s closed.

Jill DeWit:
Free to members.

Steven Butala:
It’s a closed call, and they submit the deals that they’re doing and ask our opinion and, at times, other people’s opinion, that everybody pipes in on the chat and says “Yeah, it’s great deal. No, I wouldn’t do it. You might want to consider this.” Very often, someone will say “My mom lives an hour from there. I’m happy to go take a picture.” The reason that I came up with this topic is because we, again, another tool that we provide for our members is discourse subscription-

Jill DeWit:
Discord.

Steven Butala:
Sorry, discord description.

Jill DeWit:
Subscription.

Steven Butala:
Subscription. Wow.

Jill DeWit:
It’s okay. I will translate.

Steven Butala:
They’ve been commenting. So there’s some new members that are really going through those deal reviews and saying some really positive things. I actually had no idea how educational they were for new people because we’re going through with the initial due diligence process for other people’s deals. And we’re sitting there saying, “Yeah, I would do this, but not at this price.”

Jill DeWit:
People often ask… Because price comes up with Land Academy, too, because we have a membership that comes along with it. It’s a monthly membership that gives you access to data. You get a bunch of different tools for data. You get cheap mail. There’s all kinds of support that goes along with it, and this is one of those things. And that’s what Jack’s talking about is we noticed it in our discord chats where the new members are all going, holy cow, what is all this? They didn’t even know this was here, just like a little surprise bonus. It made us want to share with you what this is and what we do and what’s going on.

Steven Butala:
Exactly.

Jill DeWit:
Like you said, we do these weekly calls. That’s every Thursday, barring a holiday, unless it falls on a holiday. If it’s not on a holiday, we’ll be there. We’ve been doing it for years now, so this is going on 16, 17, 18, 19, 20… So it’s five years of material. Well, it’s actually… Yeah, from 16, so it’s even more than 500 hours.

Steven Butala:
Yes. It’s more, we just did a fast [crosstalk 00:00:07:40].

Jill DeWit:
It’s more than 500 hours.

Steven Butala:
Well, I just wanted to say I want to be a conservative on the number.

Jill DeWit:
We record them and they’re videotaped, so people can go back and watch.

Steven Butala:
They’re on Zoom.

Jill DeWit:
And it’s really cool to see the chat. It’s not just deal review. It’s also Q and A. It’s any… dream it up. And we have people who said, “Jill, I heard you talk about how to handle a seller when you come in and your price is too high. Can you please talk about that for a few minutes?” And then we do. Sure, here’s how I do it. He and I might role play to have fun with it just for a second, just kind of say, this is what the seller… what they’re going to probably say. This is how I handle that… that kind of thing. I didn’t even think about it until this topic came up that that is such valuable information. It is shocking. It’s awesome.

Steven Butala:
Well, members are saying things like, boy, this fills in all the gaps for me, it’s all the questions that I really had on about what really goes on in the real deal. This fills it all in. They’re also talking about how to listen to it and watch it at one and a half times the speed or two times the speed so you can get through more.

Jill DeWit:
That’s good.

Steven Butala:
I thought that was great.

Jill DeWit:
Because do you have 500 hours right now, not really? So that’s true. I’m trying to think what else I was going to point out in there. It also tells you a lot of the things that people just ahead of you… There’s always somebody in the group on every call that says, “I just sent out my first mailer,” and then 10 people can chime in and say, “All right, here’s what to expect,” and it’s not us. It’s so fun because you get to hear what everybody else is saying, don’t worry, your phone will start ringing. Don’t worry about this. Yes, you’re going to second guess it. Oh, I made that mistake too. Did you set this up? Whatever it is, there’s always somebody that’s two weeks ahead of you, two months ahead of you, and two years ahead of you. It’s so fun to be able to pick each other’s brains and have working examples of this whole industry. I don’t know what else to call it.

Steven Butala:
It’s one of those things that just organically grew out of necessity or out of requests that we don’t charge for.

Jill DeWit:
Part of the membership.

Steven Butala:
It just seems to be so well received, and that’s what makes me happy.

Jill DeWit:
Right. What’s interesting… So they’re all recorded, and people are going back now and listening to the old ones and just picking up on so much. You could probably not even watch the program. I wouldn’t do it. You need the basis of it, but you could probably pick up a lot from those calls.

Steven Butala:
Well, what we talk about is it starts with a member did everything right, sent mail out… You need the program, I think, for all [crosstalk 00:10:27].

Jill DeWit:
True, definitely need the basis.

Steven Butala:
But just for fun, if you wanted to start and really motivate yourself and you’re new, just log on and watch a couple of those calls. You’ll see the result of… You’re about to go through a pretty substantial learning curve and a lot of hard work, and, then, that can keep you motivated.

Jill DeWit:
The biggest takeaway is watching how we analyze the deal because I really think when you watch us do that 10 times, you’re going to go, okay, I know what I’m looking for. I watched Jack immediately pull it up on the map. I saw what he’s, out loud, tell me what he’s looking for. I watched him open up the data section for Jill and I heard her say, I’m looking for this, this, and this. Okay, passes my test, move on. I watched them quickly look at it for any flood potentials on the FEMA thing. Okay, check.
Now I watch them jump over and look at the elevation. This is really what we do with a group or someone else, looking at the elevation of the property, making sure the slope’s not too crazy for building anything on to make sure about. I’m checking access, things like that. Now I watch them all go and look for some comps to make sure this is all priced correctly. Done. After 10 of those you like, all right, I’m starting to get a feel for this.

Steven Butala:
Jill, also in real life, plays this game called yeah, I love it at 12… So I’ve got it under contract for 20. I love it at 12. I’ll accept it at 15, but I’m not buying at 20. We do that in life all the time with these deals that come back. I just got done analyzing a deal just like that. And it happened to be the mailer price was perfect, better than perfect actually.

Jill DeWit:
Yeah, that’s good. Happy you could join us today. Five days a week, you can find this right here on the Land Academy Show.

Steven Butala:
Tomorrow the episode on the Land Academy Show is called Understanding Money in Life. You are not alone in your real estate ambition.

Jill DeWit:
Boy, that sounds like a big lecture.

Steven Butala:
It’s not. It’s as much of a lecture as you think it will be because we can talk about relationships and money, and kids and money, and real estate and money. There’s all kinds of fun stuff we can talk about, but we’ll see.

Jill DeWit:
I have to say, I am proud to be not your normal woman. I’m not out there running into something else, not like spending spree Jill, we got to talk about money and life.

Steven Butala:
Jill’s a profit center, not a cost center.

Jill DeWit:
Thank you. Thank you. Thank you for watching. We hope you find our content valuable, and we really appreciate your support. If you haven’t already, please jump on over to our YouTube channel and hit the subscribe button.

Steven Butala:
And your comments and suggestions help us to create the type of content you’re here for. Hitting the like button on your favorite episodes helps to support our channel’s algorithms engage your interest in future shows.

Jill DeWit:
We’re Steve and Jill.

Steven Butala:
We’re Steve and Jill. Information…

Jill DeWit:
And inspiration…

Steven Butala:
To buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.

Where Do I get the Money and Who is Going to Teach Me (LA 1410)

Where Do I get the Money and Who is Going to Teach Me (LA 1410)

Transcript:

Steven Butala:
Steve and Jill here.

Jill DeWit:
Good day.

Steven 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 Butala:
Today, Jill and I talk about; where do we get the money? And who’s going to teach me? Came directly out of Jill’s mouth-

Jill DeWit:
Why?

Steven Butala:
… without any editing or without any polish.

Jill DeWit:
Thanks.

Steven Butala:
It went like this, “Hey Joe, what should we talk about today?” Well, somebody just asked me, “Where do we get the money? And who’s going to teach me?”

Jill DeWit:
Yeah. There you go. It happens a lot. I see new investors, I alluded to this a little bit yesterday on the show, new investors in multiple forums, all kinds of social media accounts and these are the two big things like, “Do I get lending? Do I get financing? Do I take a loan on my house? Do I run up my credit cards? Do I sell something? Do I sell a child? Whatever it is, where do I get the money to get this started?” I’ll talk about this more, but, “Who’s going to teach me?” and they just throw it out there like you’re just going to say, “Who will teach me?” And there’s going to be a flood of mentors. That’s the funniest thing too, but we’ll talk more.

Steven 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.

Jill DeWit:
Paula says, ‘Hi, all. I keep hearing investors say they won’t touch a deal unless they see a potential for at least a hundred percent ROI, return on investment. Is there any reasoning to this other than just about maximizing profit within a range that will still accomplish high velocity sales, as in is this strategy directly related to my 1031 exchange in any way? Thanks.”

Steven Butala:
No, it’s not related to any 1031 exchange concept in any way. A hundred percent margin or return on investment in ROI, there’s no direct association with that at all, but here’s where it comes from. Very early on, I wrote a blog, ended up a little piece, a video piece on, “A 24 Month Millionaire.” That’s what I called it. As with everything, you do 20 of these things and one of them really stands out, well, that one stood out. I’ve gotten a lot of people over the years have asked me to do it again or talk about it more. So here’s a total Cliff’s notes version. You buy property for $4000 bucks. You sell it for eight. You buy two for $4000 and eight becomes 16, and 16 becomes 32 and if you do everything wrong under this scenario, you’ll have about a million bucks in the bank profit, pure profit.

Jill DeWit:
Why do you say wrong?

Steven Butala:
Well, if you do everything wrong because in my- [crosstalk 00:02:57]

Jill DeWit:
Because you can’t do better?

Steven Butala:
Yeah. No, it’s just because it’s so easy, I think this kind of stuff. That’s what kind of desert property, which we don’t talk about that much anymore because it’s too easy to on a couple of deals the way Jill does these days to make a million bucks anyway. So at that return on investment, that arbitrary, it’s doubling your money is where it comes from. In real estate, that’s almost unheard of. Just don’t do it. So the reason I included this, Paula, is because there’s several people in Land Investors forum that are really, for whatever reason, I think they were bored this holiday season or something and they’re just really active in it.

Jill DeWit:
That’s true, by the way. I’m sure, “Hey, what do we usually do?” “We go to the mall.” “Can’t go there.” “Hey, let’s go to this outdoor activity.” “Can’t do that. That’s closed too.” Let’s go to a movie.” “Nope.” That’s why.

Steven Butala:
What it’s become for me and Jill too, I’m sure I can speak for Jill is let’s look at two simple deals. I buy a property for $10000. I sell it for $20000. My ROI is 100% if the cash that I put into was off the purchase price. Nobody can shake a stick at that. It’s the greatest thing that could ever happen. Go ahead.

Jill DeWit:
My deal funding investor extra little note to you is the reason we investors say that is I want some wiggle room too. It needs to be that good of a deal that we know we can double our money. And let’s just say, you’re not good at marketing, you’re not good at this, you’re not good at that, we don’t quite double our money. We’re still going to do just fine.

Steven Butala:
Here’s as equally likely situation, and it’s one that we probably execute at least every month, maybe more. Buy a pizza property for $110000 and sell it for $200. That’s 90%, and maybe 80% return when you do all the math. It’s not a hundred percent, but we made $90000. Which one would you rather do? Same amount of work. So I know which one it is for us, and it’s the ladder. And it is, that’s what the forums are packed full of. So this hundred percent ROI, it went viral. It went… Our version of viral, not viral viral, because other people in real estate, when they’re looking at land as a thing to add to buy their apartment building portfolio or whatever, partner buildings make like 6% when you do all of it correctly.

Jill DeWit:
That’s scary, and they’re happy. The numbers, I feel so bad. [crosstalk 00:05:21].

Steven Butala:
It’s 6% of $60 million, but it’s 6%.

Jill DeWit:
I scratch my head all the time. Can we talk about this for a second? There’s a reason why we don’t own a bunch of rental properties, meaning apartment buildings, because I can’t sit around for 10 years to get my money back.

Steven Butala:
Yeah.

Jill DeWit:
I can’t wrap my head around that. But in 10 years, I will get my money back. Well, that’s great, but that’s a long time. I’d rather get my money back next month.

Steven Butala:
Well, it’s a different game.

Jill DeWit:
True.

Steven Butala:
So with apartment buildings, you raise the rent 3%, it changes the capitalization rate, or the gross rent multiplier, however you look at it, and then you go sell it. So you don’t your money by-

Jill DeWit:
Buying and holding.

Steven Butala:
You don’t make your money off of just doing a fantastic acquisition.

Jill DeWit:
Yeah.

Steven Butala:
That’s how we do it. That’s why we’re adding so much value.

Jill DeWit:
It’s very different.

Steven Butala:
There’s a lot of stuff that can go wrong in an apartment building if you’ve ever owned one. You know what I mean? There’s a break point for commercial real estate where none of the problems that are associated with owning properties and tenants and all that, don’t reach you. So in the beginning of your life when you’re really young, it’s easy to deal with all that stuff. You’re going into it’s with somewhat naive, which is what that takes. You need to do stupid stuff to figure out what you eventually want to do.

Jill DeWit:
That’s funny. Okay.

Steven Butala:
So at our age and what we know, apartment buildings just aren’t for us.

Jill DeWit:
Right. I understand.

Steven Butala:
The next topic, where do I get the money? And who’s going to teach me? This is why you’re listening.

Jill DeWit:
I have to comment that I noticed that you actually took the time to arrange the chairs outside. Didn’t put the cushions on them, but at least they’re arranged.

Steven Butala:
Yeah. Why would I put the cushions on them? It’s raining.

Jill DeWit:
It’s kind of cute though. That was very sweet to even arrange them. I’m like, eh. Leave it, whatever. Kind of looks like we’re not here.

Steven Butala:
I did it for you because I don’t care what it looks like back there.

Jill DeWit:
That’s cute. That’s funny.

Steven Butala:
Can’t tell if you’re thanking me or saying, “What the hell?”

Jill DeWit:
Do you know what’s really weird though? We’re going to look back on this in five years, I hope this is all different, I’m betting on it, that we’re going to be all past all of this. This is now 2021. We’re all looking at vaccines and lights at the end of the tunnel. I’m seeing the people on the beach behind me and that gentleman on a bicycle exercising with no one around him. He was like, what? Going 20. Anyway, with masks on. What are we going to look back and say in five years about all this?

Steven Butala:
So much to say, and- [crosstalk 00:07:53]

Jill DeWit:
Not today.

Steven Butala:
… none of it.

Jill DeWit:
Not now. You know what’s so funny about this? I’m sure you agree. We’re all sick of it. We’re all tired of it. Get together your friends, this is the topic [foreign language 00:08:04]. Can we just talk about something fun?

Steven Butala:
Yeah.

Jill DeWit:
I don’t want to talk about this anymore. Are there some new bands working on some stuff? Because I would love to hear that is there. Heck, I’ll take new Netflix movies any day over this stuff, the COVID and the political stuff. I don’t want any more of that.

Steven Butala:
At least some of the political stuff’s gone with the election.

Jill DeWit:
That’s true.

Steven Butala:
Not all of it by any stretch, but it took a lot of the wind out of their sails, which was on both sides.

Jill DeWit:
That’s true. So speaking of today’s topic, where do I get the money? And who’s going to teach me? So this is because I’m reading this and I’m like, this is the top two things that I see people ask who have decided they woke up today and said, “You know what? I’m doing it. I’m going to be an investor. I’m going to be just like Jack. I’m going to be just like Jill. This is my new occupation effective today.” And then the next thing they say is, “Where do I get the money? And who’s going to teach me?” I’m like, “Okay. Hold on a moment. There’s a little bit you got to think about here, but the both of them are not that hard. So you, as we were chatting together, Jack, you had a beautiful way of explaining where the money comes from.

Steven Butala:
When you’re new, no one expects you to have any money. I used to walk around and hang in my head saying, “Man, if I had a bunch of money, I could do this, this, this, and this.” So I want you to forget that. It’s completely not true. The only reason that you need money when you’re young and ambitious is to pay rent and for food and stuff, and you can really reduce that very low if you really start to lower your standards, especially guys. So what you want to think about as far as investing money is… So where do I get the money? You get it from people like us because the real estate deal that you found is so amazing that we can’t pass it up.
Here’s an example. I’ll use the example that I use in the question. If you bring us a deal that you’re convinced you and maybe a partner that’s a little bit to your senior that you bring in are convinced that $110000 acquisition is going to sell for $200000 quickly and give us a bunch of reasons why, well, this one… I just looked on our discord. There’s somebody in there saying, “I listed my first property and the two properties sold within a week across the street over my listing price.”
That kind of stuff we’re going to start throwing money at deals like that. So where do I get the money? You get them from people like in Atlanta Academy Group or people that are in the industry that love doing these types of deals.

Jill DeWit:
People with the money.

Steven Butala:
And people who are also, for free, are going to say, “This deal’s not as good as you think and here’s why,” or, “This deal’s fantastic. We should do it.” So more people get hung up on it and rightfully so, I get it, hung up on, “I only have $5000 bucks in my checking account or $500.”

Jill DeWit:
Yeah. I see it for land and houses, by the way. I know you’re talking mostly land, but I see it [crosstalk 00:11:13] … for houses too because I see a lot of going… The discussion then goes to, “Okay. Where I get the money?” And they’re going, “What did you guys do? How did you structure this deal? How did you get the financing? What should my credit score be?” I’ve seen all kinds of things. “Do I leverage my own home? Do I borrow over here?” Kind of things. So you don’t have to do that stuff, and I don’t really want you to do that stuff because that’s all negative… You don’t have control over the asset like you think you should. So I don’t care if it’s $150000 house, but you’re buying a $150000 house. It’s worth $210 in its current condition and all cleaned up and beautiful, it could be $310 kind of thing after someone put some money into it.
So it’s coming to someone, even like me, we have a site just to prove this to you too. It’s called, House Tank, where our people in House Academy do this all the time. They find the asset, they don’t have the money, and all they say is, “Hey everybody. We got to buy this.” And it’s usually ours that these deals are funded. Somebody in there is trolling looking for deals to plop the money down because you found the asset. You already did all the work. Just need funding to get this and buy it and then turn around and flip it to somebody else who’s going to fix it up and make it beautiful, and you guys are going to split $60000 bucks. Something like that.

Steven Butala:
Your job in life is to understand data, understand how to do a mail merge, which is all what this is based in Land Academy 101 stuff, and how to start feeling phone calls when you send out a bunch of mailers and do all that in a secure and amazing real estate deal times 10. That’s your entire job. You shouldn’t even ever think about money. If you use resources like Land Tank and House Tank or whatever, those are websites that Jill and I have developed. The money’s going to find you.

Jill DeWit:
Well, now you’re tapping into, who’s going to teach me? So we tackled the money part. Okay. We got that out of the way. Now, we’re talking about, okay. That’s great. Who’s going to teach me? Now that I know what to get the deal, how do I go find the deals? Because I know who’s going to fund me for the deals. What do you say to that?

Steven Butala:
Who’s going to teach me? I’ll tell you this is what you need to do, especially if you’re new and young, or let’s just say new, not necessarily young. You need to ice out about six hours, four to eight hours depending on your personality type and how well you can type, and lock yourself in a dark room, get on the computer and start doing a bunch of research and you will find whatever it is that you want to learn about. You will find a path that makes sense to you. I think there’s a few criteria that we put down together, Jill, about how I make decisions about how I want to learn from because I am a student in other people’s groups, believe it or not. I’m not a real loud one, but I A, want to see how they’re teaching and B, I want to learn. There’s a bunch of things I want to learn about. I need to continue my education about real estate so I can be a better instructor.

Jill DeWit:
Some of our criteria was- [crosstalk 00:14:18]

Steven Butala:
And I didn’t find those people on accident. That’s my point.

Jill DeWit:
Right. How many deals have they done? How long have they been doing this?

Steven Butala:
Yeah.

Jill DeWit:
How old are they? Let’s be honest. Let’s talk about their experience.

Steven Butala:
And then the final one-

Jill DeWit:
Accessible.

Steven Butala:
Accessible?

Jill DeWit:
How accessible are they to me if I really have to ask a question?

Steven Butala:
Yeah. Jill and I are real people that go to work every day and we’re on the other end of either a camera or microphones-

Jill DeWit:
Or a phone.

Steven Butala:
… or live on Thursday. We do live events. [crosstalk 00:14:52]

Jill DeWit:
Webinars, phones. [crosstalk 00:14:53]

Steven Butala:
Jill does, all Tuesday, does live stuff for women-

Jill DeWit:
Yeah.

Steven Butala:
… and all Thursday, she and I are in front of a camera and accessible and we’ll have developed and releasing products this month, January, that are going to make us even more accessible to our members. I think it really separates us from all the noise out there because the last thing you want to do is learn the wrong way from somebody who’s young and just wants your money. Then you have to undo it and finally, come to somebody, a group like ours that have established- [crosstalk 00:15:20]

Jill DeWit:
If you hang in there that long. Some people will give up. A lot of people will say, “This doesn’t work,” and leave.

Steven Butala:
Right.

Jill DeWit:
And I feel bad.

Steven Butala:
But finally, which leads me to my final criteria and I think it’s the most important, is whether or not you seem to get along with the people that are in the group and get along with the instructors.

Jill DeWit:
Correct.

Steven Butala:
People have been telling me my whole life, “Man, you need to chill out. You need to settle down, calm down. There’s no fire. I don’t know what got into you today, but you’re going a million miles an hour,” and I can’t make the finger gesture on the camera that I wanted to want to make to them. Jill and I are exactly on the same page about this. We hit the ground running in the morning.

Jill DeWit:
People think we’re nuts.

Steven Butala:
We’re pretty intense. People that are a little bit more chilled out about this or anything really, it doesn’t work for them. So those first four criteria, it could be great because we do have all of them in our space on the internet. By leaps and bounds, we have all of them. But it’s very possible that our approach or my approach… Everybody loves Jill. My approach, specifically, just doesn’t work. I’m kidding around. We have a data centric, everything’s surrounded around data. For a lot of people, that’s just not what they want. They’re sales driven and don’t want to deal with that.

Jill DeWit:
Well, it isn’t even about us in particular. I’m just saying whatever you pick as your niche, whatever you want to get into, maybe you want to be a house flipper. Maybe you have a background in construction. You’re studying right now to be a general contractor, let’s just say, and you’re like, “I’m going to be the general contractor on steroids. I’m going to find my own deals too.” That’s possible. I know those people are out there.” “Maybe I’m going to do this. Maybe I’ll go to find my own deals. I’ll pick the easiest best deals for me and I’ll sell all the other ones off to my competition, and it’s going to be awesome,” because that would be a great business model for somebody. So whatever that is, all these things apply.
You want to find someone in your world for the parts that you don’t know, which say in this scenario, it’s how do I find the deals? You need to seek out and find someone that’s done thousands. I don’t want hundreds, you guys. I want thousands of deals because they’ve been doing this for over 10 years, then they’ve got that many.

Steven Butala:
Yes.

Jill DeWit:
And by the way, they need to be at least 40. I’m serious. I got to say at 40. I don’t know, because I really want experience and I want them to be set and this is their life passion too because if this is just a stepping stone for them onto something else, then I don’t know. Then what were the other things?

Steven Butala:
Well, there’s nothing wrong with-

Jill DeWit:
And you click with them.

Steven Butala:
Nothing wrong with what I said earlier. Lock yourself in a room and do four to eight hours of research on the internet and find out who’s in the space.

Jill DeWit:
Yeah.

Steven Butala:
If you want to learn how to be a water heater installer, that’s the same process. You’re going to find it for somebody who gets you and you understand, and is going to say, “Hey, you have to use these tools, this tool, this tool and this tool…” You don’t have to go through all the stuff I did. I didn’t have this, but if you do use these tools, you’re going to be doing three, four or five installs a day.

Jill DeWit:
Yeah, and you know it’s the right thing. Pretty much everyone in Land Academy when they accomplish in six months what took us years because we didn’t have anybody, and that’s the whole point. That’s why you’re doing this too. You want to fast forward and get going. There’s enough deals to go around. The right person is not going to withhold stuff from you, and you guys are all going to do great deals together. [crosstalk 00:19:12]

Steven Butala:
And charging more for the next level. There’s big issues with that.

Jill DeWit:
Right. So anyway, happy you could join us today. Five days a week, you can find us right here on the Land Academy Show. Join us tomorrow, or excuse me, this is your script. [crosstalk 00:19:26]

Steven Butala:
Tomorrow, the episode of the Land Academy show is called… Yeah. If people are real humans on a show, audio and video, then that’s a good sign, I think.

Jill DeWit:
And they mess up

Steven Butala:
Tomorrow on the episode of the Land Academy Show is called, “The Value of Our Thursday Deal Review Webinar: You Are Not Alone in Your Real Estate Ambition.”

Jill DeWit:
Isn’t that funny? Some shows you just have a lot to say and this run. Yesterday’s show was like 13 minutes. Today’s like 20. We had lots to say about this topic. I had a lot to say about this topic. This is really popular and I know right now going into 2021, there’s a lot of people are saying, “All right. This is a really blank or get off the pot year for people. We got to make something happen. I can’t rely on anybody else. I’m going to do this,” and I’m really happy- [crosstalk 00:20:21]

Steven Butala:
Yeah. There’s no better time to be doing this than right now.

Jill DeWit:
So happy for them. Thank you for tuning in. We really hope you find our content valuable and we appreciate your support. If you have not already, please get on over to our YouTube channel, hit the subscribe button.

Steven Butala:
And your comments and suggestions help us to create the type of content you’re here for. Hitting the like button helps to support our channel’s algorithms engage your interest in future shows. [crosstalk 00:20:46] We are Steve and Jill. Information…

Jill DeWit:
And inspiration…

Steven Butala:
… to buy undervalued property.

—————————————-

If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://ownersdata.com

https://houseacademy.com

I would like to think it’s entertaining and informative and in the end profitable.

And finally, don’t forget to subscribe to the show on Apple Podcasts.