Stuff Your Father Never Told You (LA 978)

Stuff Your Father Never Told You (LA 978)

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 talk about the topic, stuff your father never told you.

Jill DeWit:                            I can’t wait to hear what you have to say.

Steven Butala:                   This is kind of a show that I put together that is directly pertaining to real estate. But specifically for younger people and older people too. I talked about this a couple of years ago on the show, and we had a live event, and many many people came up to me and said, man I can’t wait to read this book that you’re writing about this topic because, anyway, I’ll talk about it in a second. But it’s so important to really plan your life out. That’s really what this is about. Instead of just letting stuff happen to you. Like planning a real estate deal out. Like you want to know what’s going to happen. You want to remove most of the variables, or all of the variables that you can. Plan that there’s going to be a few variables you can’t control. And just make sure you get it done. I’m not sure a lot of people plan that out. I planned out the professional part of my life, not so much the social.

Jill DeWit:                            It worked out I think.

Steven Butala:                   It worked out well. Before we get into it though, let’s take a question posted by one of our members on a LandInvestors.com online community. It’s free.

Jill DeWit:                            Joe asks, I’ve got a group of properties under contract with a seller, which includes a commercial property. The purchase price is more than I have in my acquisition funds right now. But I don’t want this deal to go to waste. So I’m looking for a funding partner for the deal. I retried Land Academy deal funding, got it, but they said it didn’t meet their criteria. I’m not a member, so LandTank is not an option for me. Purchase price is $20,000 and there’s a similar commercial parcel currently listed for $250,000. Did anybody-

Steven Butala:                   And that’s where the question ends. And the reason that I included this in there is because there are multiple people, new land investors that are, here’s my email address, here’s my phone number, this is what we love to do. So and then, all things that happen in Land Academy, it all works out for the members and the people. And then we never hear.

Jill DeWit:                            Exactly.

Steven Butala:                   It’s just gone. They have successfully flown out of the nest and we don’t know.

Jill DeWit:                            Yeah. So here’s the deal. Land Academy deal funding, I do review deals for members and non-members. And so there’s something about this deal, it may have been something, just like an access issue, usually the things I don’t accept are, there’s some access issue or a flooding issue or it’s got too many, too high days on market issue, or some other-

Steven Butala:                   Those are federal criteria.

Jill DeWit:                            Or not enough skin in the game to, sometimes I’m like okay, by the time we invest in this and you and I split it, it doesn’t really make sense. So it’s usually things like that for us. That’s part of my criteria. And then-

Steven Butala:                   Biggest one is access. And the second biggest one is not enough money.

Jill DeWit:                            Not enough money.

Steven Butala:                   So by us saying, you know what, this doesn’t work for us. Well what we’re saying is, it’s probably a pretty good deal.

Jill DeWit:                            It might be a good deal.

Steven Butala:                   It just not, it doesn’t work for us.

Jill DeWit:                            Exactly. Or even the days on market. I’m really here to doing it fast. So if it’s going to take you ninety days or six months to sell, I don’t really want to tie up my money that long. So maybe it’s something like that. If it’s a glaring issue, I’ll let you know too. Because then sometimes if it’s availability thing, we all need to take a step back and look at it, because of that. So I’ll let you know. So then this next phase is, for members, we create a website called LandTank. So that would be my next thing is, do you want to become a member, that’s the best way. And just throw it on LandTank and again, someone else, it might be their criteria.

Jill DeWit:                            Maybe there’s somebody who wants, says I’ve got all these hunters in my back pocket. They could care less about access, they’d love this area. I’ll do the deal with you. Kind of think if they’re in it, and they’re doing more properties, they’re members and they’re doing a lot. So and that would be our thing. So I think that’s interesting that they put it in their online community. And I’m glad that you told me that somebody, and a lot of people had reached out and said let’s talk. That’s cool.

Jill DeWit:                            There’s a lot of money in our community. Because yeah, like you just said, doesn’t meet my criteria, doesn’t mean doesn’t meet somebody else’s criteria.

Steven Butala:                   There’s no office building that I would purchase, or even be a shareholder in.

Jill DeWit:                            Right.

Steven Butala:                   But that doesn’t mean people aren’t buying and selling office buildings and making tons of money every single day.

Jill DeWit:                            Right.

Steven Butala:                   Just because that’s, I’m not into it. So it’s the same thing with land. So along today’s topics though, one of my line items for stuff your father never told you, is to not give up. So whoever you are, with this deal, I know you’re not a member, because you said that. Don’t give up. If you believe in the deal, that’s what matters. If you truly believe this is a great deal and here’s why, your excitement about it is contagious. Or your complacency or how you present it, well, let’s just see if they do it. I don’t know, I got to go work today.

Jill DeWit:                            It’s true.

Steven Butala:                   That’s how everybody’s going to see the deal.

Jill DeWit:                            That’s true.

Steven Butala:                   So I don’t know exactly what happened with us, because we go through a lot of deals, but I’m sure was nothing like that. I’m sure it was exactly what Jill said.

Jill DeWit:                            There was something.

Steven Butala:                   Yeah. They sabi. Stuff your father never told you. This is the meat of the show. There’s an order about how you should pursue being successful in life. First of all, you want to sit down and if you’re this kind of person sitting around saying I really do want to be successful, when you’re young it’s usually because I want a fast car, and as you get older those things become less important. But nobody, I don’t care who you are, wants to go to work somewhere for the rest of your life. Very few people do I should say.

Steven Butala:                   And who doesn’t want financial freedom? And I don’t mean tons and tons of money in the bank and gold chains. I mean just like I get to choose what I do tomorrow morning when I wake up. So if that’s one of your goals is just to have the freedom in your life, this is what I’m talking about. So if you can picture, all developers, real estate developers know, I’m sorry, IT developer knows, what a Gantt chart is. And if you can picture bars, it a horizontal bars of activity, and then place your dates, like you have a 100 year life, right. It’s finite, it shouldn’t be wasted. For the first 18 or 23 years of life, you go through an education process. At the very end of that, the last two years of that, you should start working for free somewhere to learn what you went to school for. And that starts the next phase of your life.

Steven Butala:                   So now you’re working for free. Eventually you honestly seriously need some dough to live on. And so what should you do then? You should create a living environment and a learning environment for that matter that’s incredibly efficient, and very cheap and sustainable, so that you always have more money coming in than is going out. I haven’t talked about children or women yet at all, or men.

Jill DeWit:                            Will you?

Steven Butala:                   I will just in a minute.

Jill DeWit:                            Okay.

Steven Butala:                   So now you’re traveling along at 26-ish. You have a little bit of, three four five years of work experience under your belt. And you’re still living in squalor. In fact to be real literal about it, you should probably find a house or an apartment somewhere where you can, your whole living expenses are like $300 a month or some number like that. And it’s a freaking disaster, like you would never let your mother in there, or anybody you care about. But it’s just a place to crash when you’re not working. Bill Gates said there’s no reason that someone in their twenties should ever take a vacation at all, and I agree with that. So you should be at some point, thinking about getting during that part of your life, a good job, one that pays pretty well, and a professional environment. You’ve got all your formal education done, and now you have some experience. Whether it’s getting promoted within the environment that you’re working or it’s finding maybe a client that you’ve been servicing, and go work with them. But it should be a substantial pay increase to make it worth your while.

Steven Butala:                   As that’s happening, you’re moving through your twenties, and you should have an idea at that point in your life about what you want to do. Whether it’s real estate, whether it’s being a medical doctor, all this stuff fits into all of this. Whether it’s being a plumber who then eventually owns a plumbing company, who eventually takes a public and on and on and on. There’s a million different paths you can take. None of them are wrong. Some of them pay better. Some of them don’t. I’m a big fan of scalable stuff. It’s real hard to scale a plumbing company. Or scale being a medical doctor. It’s really easy to scale being a novelist or a programmer. You write a program once, you sell it a million times. You write a book once, you sell it a million times. Very scalable.

Steven Butala:                   If you’re a plumber, there’s eight hours in a day and that’s it. You can only bill it out. If you’re a doctor, there’s eight hours in a day you can bill out for and that’s it. Very different billing rates, but not scalable at all. If you own a McDonald’s franchise, you can buy another one, and then you buy ten more. That’s repeatable, not really scalable. That’s a different chapter. So you’re moving along in twenties. You want to start thinking about what’s going to happen socially in your life, because you got all the hard stuff done. Now I want you to imagine being 28 and doing what I just said, with four children and a wife.

Jill DeWit:                            Not going to happen.

Steven Butala:                   It’s not going to happen.

Jill DeWit:                            Not going to happen. No. You wouldn’t be at this point. You couldn’t have got there with all that. There’s just no way. You couldn’t live like that. You couldn’t sacrifice like that. You’d be scrambling to make more money to pay the bills to pay for the wife and four kids.

Steven Butala:                   Right. So I mean, you can make it possible, but you’re totally in a minority of the people who’ve accomplished this. Because you can’t live in squalor. You can’t have children live in squalor.

Jill DeWit:                            You can’t. But no matter what, I think it would hold you back and slow you down. So your goal at thirty might become your goal at thirty-five because of this delay because, I hate to call it a delay-

Steven Butala:                   It’s a huge delay.

Jill DeWit:                            But expenses and what’s involved in that. So yeah.

Steven Butala:                   And not to mention, just the stuff that’s on your mind. If all you’re doing is going to work and trying to work on your career and yourself-

Jill DeWit:                            Your focus.

Steven Butala:                   You can’t maintain-

Jill DeWit:                            Good boy. Good boy.

Steven Butala:                   A positive response. That’s a Freudian slip. Imagine a possum.

Jill DeWit:                            You’re thinking of your boy at home. You can’t be thinking about like you have a boy who’s sick. Your mind would be on that. Like you just said, so-

Steven Butala:                   Relationships, social relationships are a lot of work, I don’t care what anyone says. Children are times ten that amount of work, and once you start having multiple children, forget it. There’s just, is it rewarding? That’s up to you. Some people say yes, some people say no. Sometimes relationships, social relationships are the most rewarding thing in the world. Sometimes they end up in tragic fiery balls of disaster. That all depends, we don’t know.

Steven Butala:                   But let’s just take care of the stuff in the beginning of your life that we know about and that you can control. And then if you do decide to have a relationship with somebody, have it for a lot of years before you have children. So now you’re 32, 35. You probably own your own house, or you’re paying a reasonable mortgage somewhere. You’ve got a pretty stable job and if something happens to that job, you have three fall back plans to get another type of job, and some money saved up, and maybe you’re dating somebody that you actually like. Or maybe you’ve been through twelve people that you sort of thought you liked, and you’re on your thirteenth one and maybe this is that one, I don’t know. That’s where you want to be when you’re about 35.

Jill DeWit:                            Right.

Steven Butala:                   At 35, the window starts to close for having children. That’s just the way biology works. And it’s true for-

Jill DeWit:                            For women.

Steven Butala:                   No. I disagree, this is true for men and women.

Jill DeWit:                            Okay.

Steven Butala:                   Do you want to be a 55 year old guy having children, and you can’t really even play with them because you’re so tired and just mentally, it’s not even physically. You’re just mentally kind of done with, you just have a very different mindset from a man’s perspective, trust me.

Jill DeWit:                            I don’t know how men feel, because I see men doing that, so I didn’t know how you felt.

Steven Butala:                   I think men, most men that I know that are older that married or gets together with younger women and they have children is because the woman wants to do it and the man kind of says, you know, I’m happy to do it. I’m kind of loaded financially, and I’ll be dead when all these people are whatever. So that’s their problem, not mine.

Jill DeWit:                            Okay.

Steven Butala:                   I mean it. People ask these questions, I’m going to answer them.

Jill DeWit:                            No, I know.

Steven Butala:                   That’s what this book is all about. It’s all about stuff your father never told you.

Jill DeWit:                            I didn’t know.

Steven Butala:                   Your dad never told you this stuff because (a) he’s just trying to be nice about it and/or (b) he doesn’t care himself.

Jill DeWit:                            Okay.

Steven Butala:                   And that’s just the truth of it.

Jill DeWit:                            I got it.

Steven Butala:                   So now you’re 40 and you have two kids and you’re happily married, or whatever. However that manifests itself in today’s world. If you haven’t decided by the time you’re 40 that exactly what you want to do in life and really built on it, and built something that now, let’s say you want to be a convenience store owner, and you’ve got four convenience stores and a good staff by the time you’re 40, let me tell you something. You’ve made it. Because if this stuff doesn’t happen to you by the time you’re 40, and this is for boys and men only, it becomes exponentially more difficult to do it in your 40’s because of where your head is. Because this insane entrepreneurial fiery lust to make money and start companies and stuff, you typically don’t develop that after 40. And now there’s all kinds of examples, Colonel Sanders, and the guy that started the 99 cents store. All kinds of examples proving me wrong. But those are not the norm. They’re the offshoot, right end of the bell curve situation.

Steven Butala:                   In your 40’s is when you institutionalize your empire. You take those four convenience stores, and you turn them into 24 maybe, and then you start putting them into regions, and honing in on which products work and on and on and on and on, putting good computers and hire yourself somebody or multiple teams of people that are smarter and younger than you to figure out things that you don’t want to work on. In my case, I just can’t stand working on IT. So I have all of that outsourced, almost all of it. I’ve done it myself. No one wants to be around me when we talk about IT, trust me.

Steven Butala:                   In your 50’s, now your kids are getting a little bit older and hopefully you’re still married to the same person. If you’re not, that’s okay. Stuff happens. You move on. In your 50’s, you want to take this thing to the moon, or maybe even start to diversify. If you’ve got a convenience store, little mini-empire, maybe already you’re selling some of your own products in there. You’ve been to China a couple of times to figure out which ones work in your store best, or who can reduce your costs, and on and on and on. And by the time you’re 55, you really want to have accomplished your financial goals when it comes to how am I going to sell this thing and when. Are my kids going to take it over? Or don’t they care? They usually don’t care. From personal experience, they just don’t care, for some reason. Or am I going to run this thing until I’m 80. No. Don’t do that. You just want to have a plan. And then, implement that plan, and then enjoy yourself.

Steven Butala:                   In your 60’s it should all be about managing some type of portfolio from a coffee table. And so I can take this further and further. In your 70’s and 80’s is a lot more of just your 60’s, or maybe let’s say you find some crazy, I know a lot of guys for some reason who I know have really settled into like buying a few houses and cleaning them up, maybe renting them out, getting to know the tenants, have coffee with them and stuff, and just kind of building another separate balance sheet that way, because it’s fun.

Steven Butala:                   In our case, we’re certainly not in our 60’s at all, but in our case, we went through all of that, a version of that, and chose to start Land Academy, and now House Academy. And it’s taken on a life of it’s own, as our way to give back. So none of this stuff my father ever told me. Not one of these sentences in this whole spiel that I just gave and chances are your father either. I mean, I don’t know. Your father was a lot more-

Jill DeWit:                            I’m not a guy. So I got different speeches.

Steven Butala:                   This isn’t just for guys.

Jill DeWit:                            Yeah I know, but girls get different speeches or no speech too.

Steven Butala:                   So you know, I’m not plugging anything here. What I’m really saying is, have a plan. And plan for the fact within the plan that stuff’s going to change. What you do not want to do, what you do not want to do, is materially move these things around. Like what happens when you’re young, especially with men, you got a checklist. Every guy that I’ve ever talked to has sort of a plan in their head or a checklist. Even if it’s like, I want to be the assistant manager and then I want to be the manager of wherever I work. To do that, it’s never going to happen if you have, if you, well okay, here’s my list. I want to be the assistant manager, then the manager. I’d like to eventually get married. And I’d love to have one kid. And it’d be great if a Ferrari happened during that time. Some list like that. It’s just as simple as that.

Steven Butala:                   And then you sit there and you look at that list on a piece of paper, and you say, well the easiest thing on this list is for me to get married. In fact it’s easier for me than being an assistant manager. Chet got married yesterday. Well the second easiest thing now is to have a baby. She wants to have a baby anyway. Check. And now you can say goodbye to the Ferrari, and the manager situation, and all of it. So it’s not your fault. It’s just that you didn’t have a plan or nobody like me told you this stuff. It’s the stuff your father never told you. I wonder how many people clicked their radio off?

Jill DeWit:                            I don’t know.

Steven Butala:                   Like all of our stuff, several people, there’s people who turn it off forever and there’s some people who just email me saying, that’s the greatest stuff I ever heard, so seriously, what are you-

Jill DeWit:                            I love it. I have nothing to say. I’m just sitting here listening, absorbing. And I know this stuff. This is stuff we talk about all the time.

Steven Butala:                   Right.

Jill DeWit:                            I know that. So but it’s important to say and you’re right. Stuff that didn’t get said and I wish it had.

Steven Butala:                   There’s got to be a female version of this. I hope there is, is there?

Jill DeWit:                            There is, but I don’t have twenty minutes to go into it. I don’t want the show to be that long.

Steven Butala:                   Jill, you’re a saint.

Jill DeWit:                            Thank you. I know.

Steven Butala:                   Well, you’ve done it again. You spent another 20 minutes or so, listening to the Land Academy show, even though it had nothing to do with land. Join us next time for an episode called, the division of responsibilities in a partnership and why it’s so good.

Jill DeWit:                            And we answer your questions, plus on our online community LandInvestors.com it is free.

Steven Butala:                   You are not alone in your real estate ambition. I guess I had some stuff to say, like in my soul.

Jill DeWit:                            I didn’t even really need to really be here for this one. Wherever you’re listening or whatever you’re watching, please subscribe and rate us there. We are Steve and Jill.

Steven Butala:                   We are Steve and Jill. Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

 

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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

The BuWit Family of Companies include:

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https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://houseacademy.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 iTunes.

Why a Career Land Developer Picked Land Academy (LA 977)

Why a Career Land Developer Picked Land Academy (LA 977)

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 why a career land developer picked Land Academy.

Jill DeWit:                            This’ll be good, based on a call that I had, and then I shared it with you, and you’re like, “Oh, we got to talk about this.” So, I-

Steven Butala:                   It kind of ties into what happened yesterday. There’s a special type of person that gets involved in this, and it was a total unintended consequence on my part when we started this. We just wanted to help people and have that question stop, and it ended up all these smart people found Land Academy.

Jill DeWit:                            And look what we’re doing now.

Steven Butala:                   Now we’re doing deals together and stuff. It’s pretty cool.

Jill DeWit:                            I know. It’s great.

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

Jill DeWit:                            Linda asks, “I’ve been in contact with an owner of a 33.5 acre parcel in Virginia. But as I was looking through the current deed, it mentions a family cemetery and a right of ingress and egress. I asked the seller about it, and she said it’s very old, like 1800s. Some of her relatives are buried there, but then they were moved to church cemeteries many years ago. There are a few graves left, but they’re all people unrelated to the family and the seller has no idea who they were. Neither does anyone living in that area. She is supposed to send me a survey that shows the location of the cemetery. Sounds like it’s her at the front of the property on the left side, so not in the middle of anything. I had offered $25,000 which is $746 an acre before I knew about the cemetery, and the cheapest comp, comparable property in the market right now is listed for $2,400 an acre.”

Jill DeWit:                            That’s great.

Jill DeWit:                            “Prices go up from there to $3,000 an acre, and they keep going up. It looks like a great margin, but I’m concerned that having an old cemetery on the property would make it hard to resell. Thanks.”

Steven Butala:                   As you can imagine, this topic on land investors itself generate a lot of responses from other members.

Jill DeWit:                            Yep. Exactly.

Steven Butala:                   Would you buy it?

Jill DeWit:                            You know what I would do, I would try to see if I could get the property split to remove the cemetery. In a perfect world, I’d get that piece, chunk, cut out and leave it with the family.

Steven Butala:                   So that’s what the response was from our moderators.

Jill DeWit:                            Right. Okay. That would be my first choice.

Steven Butala:                   I like it. The economics of the deal are great, and I’ll tell you what. If you can buy at 33-acre property in the state of Virginia anywhere … There’s no bad place in Virginia to buy real estate. So that makes me say, “I want to go to the next … Let’s take it to the next … It’s the next level.” Plus, if she’s got an old survey and all kinds of stuff, that’s really positive.

Jill DeWit:                            I think the right attorney could get this done, and not be that hard. I bet the right attorney can do it in 30 to 60 days and get that piece off there. Otherwise, there’s nothing you can really do with it because no one’s going to want to move a cemetery, you know, kind of thing. I’m not even sure … You know better than I do. What are the legalities of owning a cemetery, Steven?

Steven Butala:                   Yeah, this happened to me. I bought a whole list of property once, very inexpensively, without looking in the properties the way that I should, and I ended up with a cemetery, full-blown cemetery, with tombstones on it and everything, and I luckily was able to donate it to the municipality. I’ll tell you what. I was sweating it. I couldn’t find a lawyer that would handle this because there was just nobody who handled this kind of thing. So I made a phone call, and they were more than happy to take over the property. For whatever reason, I think, it was a very small town in Alabama, and I think that there are people buried there that had ties to the city itself and stuff. It really worked out great for me and great for them. Those kinds of things are a little scary.

Jill DeWit:                            That’s true.

Steven Butala:                   It’s an interesting topic. So, if you’re a real estate investor listening to this show or coming at this from really any angle, this is not going to happen to you. The chances of these crazy, kooky things happening are very small, but they’re fun to talk about.

Jill DeWit:                            Mm-hmm (affirmative). Exactly.

Steven Butala:                   Today’s topic, Why a Career Land Developer Chose Land Academy, this is the meat of the show. Jill had a very detailed talk last week with the kind of person that we love to have in our group. He comes to us, or here she comes to us with a tremendous amount of experience in something. Maybe they’re an engineer, but [inaudible 00:04:50] experience in something.

Steven Butala:                   So, in this case, this guy is a career land developer, and informed Jill … This is why I wanted to make it a show … Informed Jill that he hasn’t been buying property the right way his whole career, which I’ve been in that seat before, and I turned around and said, “Wait a minute, a decade’s gone by. I’m not doing this right. There’s got to be a better way.”

Steven Butala:                   So, go ahead, Jill, with the story.

Jill DeWit:                            Well, here’s the thing. He wrote a really long thing into my team, a great, “Wow. I’ve been following you guys. I just wanted to say hello, introduce myself. I’m just getting ready to join. I think you’re great. Here’s what I’ve been doing, my career.”

Jill DeWit:                            It was just this awesome glowing thing, and I’m like … It somehow got to me. I’m like, “That’s fantastic.” And you described his background like that’s exactly who we want our group, and the way he’s looking at doing this. So I picked up the phone and called him, and it was not a scheduled call. I just picked it up and called him, and it was so cool because … I’m reading … I went and got my notes here from the call, and he recognized my voice right away. It was good.

Jill DeWit:                            He’s like, “I’ve been listening.” I said, “Thank you so much.” It was so cool and was interesting. He’s been doing his homework. He’s not new to our industry. He has been working as a sales manager for a contractor for many, many, many years is what he’s been doing. So he’s been in the industry, not necessarily investing himself, but basically his note was something about, “I just watched my boss buy a new car and that should be me,” kind of thing. “I’m tired of all these years of making money for somebody else. I’m just over it.” And he knows what’s possible. It was just getting the pieces from us to figure out what’s the roadmap.

Jill DeWit:                            “I see it. I know the beginning, and I know the end. I’m this piece of the puzzle here. I’m done with that. I want to do this for myself.”

Jill DeWit:                            So that’s why he came to us, and it was so fun talking to him. He’s like, “And it was so good.” He did everything. Everything that we’ve talked about, he’s like, “My wife is on board. Check.”

Jill DeWit:                            We’ve talked about that even just recently with somebody. I can’t remember who it was. But if your wife’s not on board, it’s not going to work. He’s got daughters who are in their twenties, and one of them was interested, and he’s like, “I’m roping her in.” He’s like, “This is going to be a family business. I see it. I know it. I’m going to get her in now. It’s going to be awesome.”

Jill DeWit:                            He’s basically done all the work. And you know what’s funny? The only thing that was holding him up is he was having a little bit of an over-analyzing it. So we talked about that.

Jill DeWit:                            He’s like, “Do you think I’m ready?” I’m like, “Yeah, you are ready.” It was just thinking about it a little too much. You should do all your homework and do a lot of homework and read and be involved in our community and listen to our shows and everything. But there’s a point you have to cut it off and just do it.

Jill DeWit:                            It’s like once you get in, and you learn how to do offers and get it out there, you need to cut it off. You’ve picked a county. Trust yourself. Send the mail and just go forward. That was the only thing. Anyway, it was so fun talking to him.

Jill DeWit:                            What were you going to add? Or do you have any questions?

Steven Butala:                   No. It doesn’t surprise me at all, right? The people who are successful in our group, and there’s more and more and more of them, and I think yesterday’s show was why they never leave.

Jill DeWit:                            Faith. Yesterday’s … Faith happened the day before. Yeah, yeah.

Steven Butala:                   Oh, yeah. Two days ago. It’s just amazing. I’m constantly amazed, and I know we have another second annual live event coming up in the fall, I guess. I can’t wait to see the difference between the first one and the second one. Because it’s just amazing that the deals that we’re doing in that, the variety from different types of industries that get involved in this. Do they all kind of have that similar personality type?

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   I’m proud of it is what I’m trying to say, I guess.

Jill DeWit:                            This topic is also … It reminds me of so many people that we’ve talked to in our industry that still look at us sideways, that don’t understand that you can do direct mail. Isn’t that funny? Remember when we talked … This is like two years ago, we went to this meetup, and went to meet at Manhattan beach, two years ago, it was a panel, remember this, of all these guys buying apartment buildings and somehow direct mail came up. We were just kind of … I don’t think we asked a lot of questions or asked any questions. We were just there and just learning what this group’s about and just wondering what kind of deals they’re doing. Just kind of figuring out that. Anyway, and someone brought up direct mail, and this one guy said, “Yeah, I use direct mail,” and he talked about a home run that he had with it, but he’s not focusing it there for some reason. Do you remember that?

Steven Butala:                   Yeah. He said this, “Well, there’s four panelists up there, all coming in at the small apartment industry from a different angle. Three of them said, ‘We don’t do direct mail ever.’ One of them said, ‘I think we sent postcards out, and that didn’t work.’ And then the fourth one said, ‘Oh yeah. We sent out direct mail. We don’t use it anymore. We don’t use it. But we sent out direct mail once, and we bought a property for like 25% of what we thought it was worth at the time.'”

Steven Butala:                   So what he was saying is, “It really, really worked.” And then it just stopped, and nobody knows why. Nobody asked him, and I didn’t want to ask him, “Why did you stop?” And the answer is, I’m sure, the answer is … None of them are data people up there at all. They’re all about buying an apartment building, cleaning it up, allowing pets, raising the rent, and reselling it, which is a great business model for some people. They’re not data people. This ties right into this. They’re not data people. So we’re data people, and we’re real estate people, but we’re data people first.

Jill DeWit:                            Right. That made me think about this call, too. It was just so good. This guy gets it. His boss doesn’t get it.

Steven Butala:                   Yeah, that’s what I’m saying.

Jill DeWit:                            A lot of people don’t get it. He’s-

Steven Butala:                   That’s what I mean. Most of the people in real estate don’t understand this.

Jill DeWit:                            That I’m remembering, too. It’s like coming back to me now. That’s what I was so excited about. He’s going to turn around and blow this guy away.

Steven Butala:                   Yeah, absolutely.

Jill DeWit:                            I mean, because he’ll learn how to buy things the right way, the easy way. And just so you can focus on the stuff you need to focus on, which is more deals or bigger deals or having fun.

Steven Butala:                   I mean, if you listened to their earlier shows, we all know Jill’s having a rough week. She’s having a rough week because we’re retailing a house, which you should never do. And so, it falls into this exact same concept. She’s doing a deal like it’s 1955, and it’s not her fault.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s because there’s an Asian involved, and the price is right, and we’re gonna finish the deal. But-

Jill DeWit:                            There’s no other way to get it done with these people.

Steven Butala:                   … why would you buy a house out of the MLS using a real estate agent or a broker or anything else? It’s just doesn’t make any sense anymore. It really, truly doesn’t make any sense at all if you’re in any type of real estate at all. Buying a house through traditional channels is … You’re maybe, from where you’re sitting right now, two to four hours away from sending out 10,000 offers if you want, that are priced correctly and are going to go to the right people, and you’re going to catch one or two or three or four or five or 10 of them right at the right time where they need some money and close the deal. So …

Jill DeWit:                            What?

Steven Butala:                   The light bulb went off over this guy’s head that Jill’s referring to. And so hopefully, if the light bulb could go off over your head, then it just ends up … Then now, it’s all about putting the people in the place to close the deals for you. Or close them yourself for a while, until you get so fed up with it that it’s so silly, and it’s so old that you move some stuff around.

Jill DeWit:                            Exactly.

Steven Butala:                   Well, I’ve done it again. You spent another 15 minutes or so listening to the Land Academy show. Join us next time for the episode called Stuff Your Father Never Told You.

Jill DeWit:                            And we answer your questions. Post it on our online community landinvestors.com. It is free.

Steven Butala:                   You are not alone in your real estate ambition.

Jill DeWit:                            Yeah, I surprised that guy. It was really funny. I like doing that now and then. I just kind of bust out calls and just like, “Hello,” and it’s funny how quickly … I’m sure you have this, too. They’re like, “Is this Jill?”

Steven Butala:                   Yeah.

Jill DeWit:                            Yeah, it is.

Steven Butala:                   I feel bad. What do you say when they do that?

Jill DeWit:                            Well, it’s-

Steven Butala:                   I have a whole speech.

Jill DeWit:                            Well, I just, “Yeah, it’s me.” It’s great. And yeah, sometimes they trip over their words a little bit in the beginning. It’s fun, and then we just started talking and have a good time. What do you …

Steven Butala:                   I just say, “Hey, look. I understand because I’ve been through it a million times, meeting people that you see on a screen somewhere or whatever. I’m just a regular guy at night. Got up in the morning and brushed my teeth just like you did this morning.” And it usually stops most of it.

Jill DeWit:                            I love it. Wherever you’re watching or wherever you are listening, please rate us there. We are Steve and Jill.

Steven Butala:                   We are Steve and Jill. Information …

Jill DeWit:                            And inspiration …

Steven Butala:                   … to buy undervalued property.

 

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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://houseacademy.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 iTunes.

Rich Girl Talk with Member Faith Hill and Jill DeWit (LA 976)

Rich Girl Talk with Member Faith Hill and Jill DeWit (LA 976)

Transcript:

Jill Dewit:             Good morning, just Jill here. Welcome to the Land Academy show, entertaining Land investment talk. I am Jill Dewit broadcast from Sunny southern California. Today I’m here with member Faith Hill, just Faith, who shares her experience with us at Land Academy. I am so happy to talk to you, Faith. Thank you and welcome.

Faith Hill:              Thank you, Jill. I’m excited.

Jill Dewit:             I picked you specifically to do this show with me alone for two reasons: Number one, you, like me, started in this business ground up with your husband/partner and that is unique, and I think we are very special because of that; and then two, just you and as a professional coming into this too I mean you had another career you were very successful I’m sure and happy in your career before this, but here you are doing this.

Faith Hill:              Absolutely.

Jill Dewit:             I want to talk some business questions. We talked with you and Germaine it’s so fun now just us girls because we have a different spin on things. I have some kind of business questions I was going to talk to you about and then I was going to ask you some female investor kind of related questions. First of all, tell me, talk to me about the East Coast. You guys, this is, for me, what’s your experience East Coast? You’re on the East Coast, I’m on the west coast, properties are so different. This morning I was having coffee with Stephen he was talking about, ask her, I said what do you want to hear? What do you want from Faith? He says you know there has been, over the years he’s done well in some of the east coast states and not so well in some east coast states. So you guys are killing it in Virginia and some other states out there, what do you think is the difference and what can you share with us?

Faith Hill:              Yes. I’m glad you asked that question Jil because definitely we see that there are not a lot of people in the land space that are working on the east coast. At least when we initially started, we saw most folks were targeted in California, Arizona, Texas, so we certainly did have to learn by trial and error in terms of applying the model to Virginia and North Carolina. Those are the two main states we target here on the east coast. It still works here. I know that some people initially might be skeptical of applying the model to different states, but it does work certainly in Virginia and North Carolina. I think some of the differences that we notice early on was that our initial offer prices needed to be a little higher than we originally anticipated.

Jill Dewit:             I was just going to say that.

Faith Hill:              Yes, not saying it’s not possible to find properties you can buy for a few hundred dollars here, but certainly in our experience, going into, we target one to five acre parcels, we certainly did need to start a little higher in terms of price points. I think might be the biggest difference we’ve seen, at least with pricing. I think, other than that, the people interaction I’m sure is very similar in terms of knowing who to talk to sellers and being relatable and things like that. That’s pretty universal no matter where you’re doing this business. I think that would probably be the main difference we saw earlier on.

Jill Dewit:             Pricing. The people, are they you get the same response with your mailers and your offers? Do you still get those people that are, obviously you are, receptive to it.

Faith Hill:              Yes.

Jill Dewit:             Me coming from southern California, I never forget the first time I was dealing with people in New York, right. I’m like, what the heck? The way that they talk to each other and the way that they interact, I’m like oh my goodness. If I lived there, I’d be eaten alive. It’s so funny.

Faith Hill:              I guess maybe people are people no matter where you are. Certainly we still get a first wave of hate call when our letters go out, unfortunately. But, once that first wave passes of folks who are like, why did you send me this letter? I’m not interested in selling and expletives. We then get the next wave of calls that come in and people are like, hey, I received your letter, I’m really interested in selling. The price you ave me might be a little low, can we talk a little more, possibly negotiate.

Faith Hill:              My husband and his team, they oversee the acquisition and they handle a lot of those direct calls with sellers and they really try to take the time to understand our story. Why do they need to sell? And see if we can offer a solution for them. They’re really good about making sure that hey, Ms. Jones I understand that the price might be a little low, but we certainly want to make sure that this transaction is mutually beneficial and they try to make sure that, approach it from a problem solving aspect. I think that approaching that call with some humility I think can allow that situation to diffuse, when callers might be initially upset about the initial offer. Those tactics still work here on the east coast as well.

Jill Dewit:             So tell me about your division of the roles. Tell me when you guys started, who did what? Then now what are your roles?

Faith Hill:              It’s still adapting too, but when we initially started, I initially jumped in the business, Germaine had been pretty much doing everything with the assistance of a virtual assistant. When I first jumped in, I started taking over transactions and marketing. And that’s pretty still what I oversee although we’re still looking to adapt the roles a little bit just for efficiency sake.

Faith Hill:              Pretty much on the marketing side, I ensure that the letters get out when we do our initial direct mail and send out our initial offers. And then when it comes to the sales we ensure that the listings after we’ve acquired a property gets posted everywhere as quickly as possible. So that’s kind of what we oversee, what I oversee on a marketing side.

Faith Hill:              And then on the transaction side I serve as the point person with setting up, if we’re doing a closing in house, setting up the mobile notary appointments with the seller and just ensuring that process goes smooth. And then if we’re working with a title company, serve as a point person to communicate with the title company and the seller to make sure things are still moving forward.

Jill Dewit:             Right.

Faith Hill:              So, that’s what I oversee and Germaine, he oversees acquisition and disposition. So that’s how we divided the labor and as I said it’s still adapting because we notice that there’s some points in our business where we may be doing double work because we didn’t quite think about, Hey you know maybe we can gather certain information at this stage in the process so that we don’t have to repeat later on in the process, so those are still things we’re working out as well.

Jill Dewit:             Yep. Sounds like you guys are a lot like us; like he’s acquisitions, in the big way, and you’re kind of sales, in a big way. I love that. I remember that too. When you’re doing your due diligence and you’re looking at photos, and that’s a little step that we learn too, all of your homework when you decide to buy the asset, that’s going to be all those pictures and all that due diligence and homework and all the maps and things, you need those when you go sell it.

Faith Hill:              Absolutely.

Jill Dewit:             So we actually have a system. Acquisition engineering sales, so everything from the acquisitions side goes into the engineering folder, because when it comes on a post-it, half of it’s right there.

Faith Hill:              Absolutely.

Faith Hill:              And that’s the area that we are trying to refine a bit, because we noticed that some of the information that’s gathered in the due diligence section, in acquisition, hasn’t been always translating to our marketing, where there may be key things you want to highlight when we market that we forgot, because the acquisition department handled that and that communication didn’t get translated over to marketing. So we’re working on trying to refine that communication a little bit more so that we can assure we’re marketing those things that we believe will help move the property quicker.

Jill Dewit:             It’s like whatever that attribute was that caused you to see it as a valuable property needs to be conveyed [crosstalk 00:09:28] to your broker.

Faith Hill:              Absolutely.

Jill Dewit:             That is fantastic. So I gotta ask to, all right, being a lawyer, is it helpful or hurtful? And do you disclose it?

Faith Hill:              Being a lawyer, I guess, initially I would say that for me, when I first got into the business, to be honest, I think it was more hurtful.

Jill Dewit:             Okay.

Faith Hill:              The reason being because in general with entrepreneurship…

Jill Dewit:             Yeah.

Faith Hill:              You, one, cannot overthink things every step of the way. Because many times there isn’t already a path laid out for how to do ‘X’ right? You’re kind of forging your own path and you’re building your own business from scratch. There are a lot of things you’ll be doing that you’ve never done before or that you have to learn about and [crosstalk 00:10:29]

Jill Dewit:             Or create.

Faith Hill:              Yeah! Or create.

Jill Dewit:             Like there is no system, we’re making one, okay.

Faith Hill:              Correct.

Faith Hill:              And for me, when I’m wearing my lawyer hat, I’m looking at, okay, what laws or what regulations are already in place to be able to accomplish ‘X’ and so it’s challenging to approach the business that way, because, like I said, there’s not always a clear path that’s been laid out. That, for me, I have to tell you, it seriously was something I had to push through and kind of be like, Faith, guess what? It might not be perfect the first time, so [crosstalk 00:11:10] don’t overthink it. Hey, test it out, if it doesn’t, adapt. So I think in the beginning it was a little, for me personally, held me back a little bit, trying to push myself to do things outside of my comfort zone.

Faith Hill:              I think now, it is helpful, because of the fact that it helps us, or me personally, it helps me with kind of to stay organized in approaching the business and systems in a logical manner. Actually, being a lawyer, I hold it close to my chest. We don’t always reveal that or say that, because, in my opinion, it’s not really that relevant in most of what we do when we’re talking about interacting with sellers and buyers. In fact, it can be a turn off [crosstalk 00:12:08] for some, so we don’t mention that, unless we feel it’s necessary.

Jill Dewit:             I see it as such an attribute. It’s just like how accomplished you are. You know what I mean? It’s like, come on, you’re smart. Look at what you’ve done. You’ve already killed it in one career, by the way, and now here you are in a whole new, different world, so, I mean, go Faith. Come on.

Faith Hill:              Well, thanks Jill. I will say that, hey, coming into a new environment, when you’re starting to go into a new industry, like real estate, sometimes the past knowledge translates over and sometimes it doesn’t.

Jill Dewit:             Right.

Faith Hill:              Yeah, so I still approach it as if I’m learning everyday, because, certainly, even with my background, my legal background, I do not know everything, at all. I still definitely push myself to continue to grow and learn when it comes to this business.

Jill Dewit:             That’s so, so cool. I was gonna say, does it help you all in closing deals? Do you need to put your lawyer hat? Can you put your lawyer hat on in getting some deals done? And say [crosstalk 00:13:25] I know how to do this, or I’ve got a guy over here. We’re going to get through this whatever situation.

Faith Hill:              Yeah. There are times where it can be helpful if the buyer or the seller’s represented by an attorney. For us, me being able to communicate with them on that level, I think, can help move the transaction through. Sometimes when you’re dealing with sellers and buyers and you’re a new business and they may still be hesitant as to your credibility. You know, they see you as an online company and they’re not quite sure if you are legit, sometimes buyers and sellers will like to bring an attorney, which is fine, and when they do that we’re like, hey, you know we’ve worked with attorney’s, we’re happy to work with your attorney. Like I said, being able to communicate with that attorney on a legal level certainly helps move the transaction through.

Jill Dewit:             [crosstalk 00:14:28] It probably calms everybody down. It’s kind of like, for us, when people look us up and they realize this is not our first deal, kind of thing, and how much we’ve done and our whole thing; calms everybody down and then we never have to talk about that again. [crosstalk 00:14:45] legit or anything like that or our experience [crosstalk 00:14:49]

Faith Hill:              Right.

Jill Dewit:             Or, you know, the process. They go, oh, you obviously know what you’re doing, we trust you.

Faith Hill:              Right. Absolutely.

Jill Dewit:             That’s so cool. So I want to talk to you about girl stuff.

Faith Hill:              I’d love to!

Jill Dewit:             You know what? And this is something that’s very near and dear to me, obviously, because I’ve been going back and forth with several books, and one of the books that I’m kind of drawn to right now is a kind of a real estate investing for women kind of book, because I really believe that we bring different things to the table, we make decisions differently, and there’s a lot that we pick up on. I guess my first question is what do you think, as a woman in this business, first of all, what do you think that you do better?

Faith Hill:              Yeah. One thing that I think that, as a woman in this business, it’s funny, because I think that there are times when we can be underestimated. I know that in a lot of the circles that we operate in, if we go to meet up groups and things like that, many times those meetings are male heavy in terms of the presence there. And so there are times that, one can be underestimated, but I see that as an advantage, because it’s like, hey, just because I’m a woman doesn’t mean I haven’t done my research just as well. But I think, again, whether you’re interacting with men or women in this business, if you can come to the table having shown that you know your numbers, you’ve done your research, you know what you’re doing, you can establish your credibility, I don’t see it as a hindrance at all in terms of getting deals done. Especially if, again, you’re buying right and you’re offering a service.

Jill Dewit:             Exactly. You know what’s funny? You brought up a good point. I can’t tell you how many times that we’ve been in situations where they look at me like I’m the plus one. I’m like, you guys have no idea what goes [crosstalk 00:17:20], so darn funny. We’ll be at places and they look to Stephan and then when I start talking they’re like, what just happened? [crosstalk 00:17:34] wait. Even right now in our business, we’ve kind of divided up some things, and [crosstalk 00:17:42], as you well know, is really my baby.

Faith Hill:              Yes.

Jill Dewit:             In the beginning, he was kind of in there and now he’s kind of like, you’ve got this, see you later, kind of thing and it’s totally mine and I’m making the decisions and all that. And I truly love these deals. This is like back to what I really love to do, and that’s what’s so funny about it. I talk about these deals and people, they look at me like, really? Oh dear, sweet Jill.

Faith Hill:              Yeah.

Jill Dewit:             Then, like you said, I can use that to my advantage too, because I can be at the back of the room and they think I’m a fly on the wall, but I’m taking it all in. I know all of what’s going on. They don’t know me. It’s really funny.

Faith Hill:              Absolutely.

Faith Hill:              Have you found it as an advantage in negotiations?

Jill Dewit:             Totally.

Faith Hill:              Yeah.

Jill Dewit:             Totally, because I can come at it, this is one of the things that I think about, I think we’re better at reading people right away. So when I get someone on the phone, or I’m doing a transaction or something, I can pick up real quick like, all right, do I turn it up or do I turn it down? Depending on that person. Do they want me to be really smart? Do they want me to just know enough? And I use that. That’s like our good instinct. We can read people and use it. Usually what I do though? I usually hold back. Say I’m dealing with a seller, I want them to know that I’m a professional. I never want to over talk them or anything like that. I just kind of read them and I’ve learned to give them just what they need. And then when I’m dealing with a seller, I really want to come across, or a buyer I should say, real professional, obviously.

Jill Dewit:             You know what I think to? Like you said, this is so much of this is a mans world. And being a chick on the phone makes a difference, and then if you’re a chick with a good voice, boy does that make a difference. [crosstalk 00:20:06]

Faith Hill:              A good voice and a good laugh, right Jill? [crosstalk 00:20:09]

Jill Dewit:             I appreciate that. I’ll never forget, back in the day when we were first starting, it was me on the phone. I was the only one doing all the calls, inbound and outbound, and there were days that Stephan would go, all right how many marriage proposals did you get today? And I would be like, I couldn’t get this guy off the phone. He’s like, no kidding. I’m like, all right, I can use this now, but you still got to figure out, there’s times that there’s a tire kicker they just want to talk to you. I’m like, all right, come on, are you in or you out? We got to make a decision here.

Faith Hill:              Right.

Jill Dewit:             And think that’s one of the reasons that I am drawn to this business too, because I actually like being a smart woman in a mans world. They don’t know always what I know, and I can use that to my advantage.

Faith Hill:              Absolutely.

Jill Dewit:             It’s really, really fun for me. Is there anything else that you can think of that, as a woman, for you and what you do differently in your operation?

Faith Hill:              Yeah. I’m trying to think. I guess with our land business, Germaine’s department is the one who does the direct negotiations with buyers and sellers. It’s funny though that many times, even though I’m not directly involved in that part of our business, there are times when we still use it as an advantage for negotiations, because if there are times when Germaine will communicate with the potential buyer that, hey you know I think that we might be able to do that price that you’ve countered at, but let me talk with my wife, and we’ll get back to you. And I guess, us being properties where we’re the owner of the property…

Jill Dewit:             Yeah.

Faith Hill:              Many times the potential buyer respects that. It’s like, oh, I understand that you all have to make that decision jointly, and what’s best for your family. And that gives us time and little bit of advantage in negotiations, even though Germaine’s department is the one that oversees that area for our land business. So we have been able to use it [inaudible 00:22:38] advantage there.

Faith Hill:              It’s funny, even just the other day with our other business, you know that we just recently entered into self storage, we used that advantage there as well. Where we had an individual come in and wanted to rent a couple of units, and he wanted negotiate on price a little bit, because they were bigger units. He did that initial negotiation with Germaine and Germaine on site said, well, let me go touch base with my wife and, in this instance, since our rolls are a little reversed, I do oversee operations there, so he came in and we touched base, and we agreed we could do that particular price, and then the customer came into the office and kind of joked like, oh I didn’t realize you were the boss, I should have been talking to you at first.

Jill Dewit:             You do exist.

Faith Hill:              Right. So it is funny in those instances where, again, you can use that as an advantage in negotiations.

Jill Dewit:             Totally.

Faith Hill:              Yeah. And that’s [crosstalk 00:23:43]

Jill Dewit:             [crosstalk 00:23:43] and Germaine probably knew this isn’t going to fly, but I’m going to tell you this right now, we’re going to hang up the phone, and I’m going to wait an hour and I’m going call you back. This is what we’re going to do, and you’re going to think that.

Faith Hill:              Exactly.

Faith Hill:              But I agree with you too. I’ll second the comment that you made earlier, Jill, about being able to read people. I think that approaching a business when you have both perspectives, men and women involved, there’s some things that we pick on that my husband might not pick up on, and certainly vice versa. Being able to bring both those perspectives to the table, I think, helps us in our decision making, for sure.

Jill Dewit:             I love it.

Jill Dewit:             I have one last final question. So what is it about you, Faith, that you figure this out, there’s two parts, you figured this out so fast and you guys are not stuck in second gear. You guys quickly went from A to B to C, look at you, you’re already going the self storage phase, stuff that we haven’t really talked about as a group. You took it and ran. And what is it? I’m asking you this so we can help the next person.

Faith Hill:              Yes.

Faith Hill:              I will say it did not happen overnight, for sure. Because we’ve been doing the Land strategy for going on three to four years now. It certainly did not happen overnight. We made mistakes, that’s for sure, but we didn’t let it stop us. I think that’s the key. I mean, even now we make mistakes, and we come across road blocks, but I guess having the mindset that entrepreneurship is about learning as you go. You are going to make mistakes, it’s a fact. That doesn’t mean you failed, necessarily, it means that you need to keep pushing forward.

Faith Hill:              I think for me, having that mentality and getting past that, removing my lawyer hat thinking that everything has to be just so and perfect, and realizing there are times when mistakes will be made, but you keep pushing forward anyways. I think that has been crucial for us to continue to move forward in this business. For those that are looking to continue to push themselves and grow, certainly it’s about being all in as well. So when Germaine and I made the decision to quit our full time jobs and pursue the Land business and real estate full time, it adds another dynamic, another level of pressure. It’s kind of like, now we’re all in, we have to be successful. For us there’s no room to fail, to a degree. Adding that additional level of pressure, in a good way, it has allowed us to continue to push forward and have that motivation to keep moving forward, keep growing.

Jill Dewit:             That is fantastic. I got to tell you, Faith, I hope everybody else felt it too, when you brought up the all in, that gave me goosebumps. Because you’re right. That’s just a perfect way to end this. You did it, you made the decision, there’s no turning back. So we can’t get stuck in second gear, we are all in. This is our life now, and look at what you’ve done. It’s amazing.

Jill Dewit:             Thank you so much for being here with me today, Faith.

Faith Hill:              Thank you, Jill.

Jill Dewit:             I am so happy.

Faith Hill:              It was awesome talking to you today.

Jill Dewit:             Thank you. We have to do this again.

Faith Hill:              Yes.

Jill Dewit:             Well you’ve done it again, wasted another, I don’t know 15 or so minutes, listening to the Land Academy Show. Join us next time for another interesting episode. And, of course, we will get back to answering questions that you have posted on our online community at landinvestors.com. It’s free. You are not alone in your real estate ambition.

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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://houseacademy.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 iTunes.

Reasons Why Our Members Stay for Life (LA 975)

Reasons Why Our Members Stay for Life (LA 975)

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 the reasons why our members seem to stay for life.

Jill DeWit:                            I just thought of another reason, by the way. It ties into what we’re just talking about. I’m going to give you a little tidbit, a little sneak peek here. I really think that one of the reasons our members are with us and stay with us is because we are real. And we are moving forward and always trying to do the right thing and get stuff done. I’m having a little trouble right now today getting stuff done, because I have a real estate agent getting in my way.

Steven Butala:                   Let it out, Jill.

Jill DeWit:                            We bought a property. This is a House Academy transaction, and I’m selling it. Unfortunately, this property was ready for the end user. It didn’t need anything, so none of our normal investors who get it, who are not agents, were looking to buy the property.

Steven Butala:                   Our rehabbers. The people who we sell houses to.

Jill DeWit:                            Exactly. They get it. There’s no talking.

Steven Butala:                   Instead of wholesaling this house, we choose to retail it, because it was done.

Jill DeWit:                            Right.

Steven Butala:                   We just got a great deal on it.

Jill DeWit:                            Doesn’t need anything. We just got a great deal. So what does this mean? That means like, “Uh-oh, now we’re dealing with the end user,” and what does the end user often bring to the table? An agent. Okay. We can handle that. No problem. Well, now here we are, and I’ve got just the typical agent who thinks that he knows better than anybody and actually talking to me about my tone of voice today, by the way. Really? I’m the seller. I can walk, and then you get no commission, by the way. Anyway. He’s just being a … He’s not responsive. I can’t figure out how this guy gets stuff done. That’s it.

Jill DeWit:                            So I really stood there and told him what I thought. I’m like, “When you say you’re going to call somebody back, call them back. I’m standing by. I call you first thing this morning. Didn’t take my call. What’s up with that? I’m the seller. Do you want to get this done or not? This is your commission. I have other … I can move down the list.” Anyway.

Steven Butala:                   Since the early ’90s … Because I cut my teeth on this, too. Jill’s completing this deal as if it were 1955.

Jill DeWit:                            Oh, my God.

Steven Butala:                   Since the early ’90s, she and I have been devising step, by step, by step a way to buy and sell real estate, so she or anybody else doesn’t have to go through this. Real estate agents get in the way of deals.

Jill DeWit:                            They do.

Steven Butala:                   That’s it. Especially for our personality types.

Jill DeWit:                            They do.

Steven Butala:                   If you are an aerospace engineer, or a nurse, or anything else, and you just don’t have time to do a real estate deal, then maybe, maybe, there’s a place for them. Certainly not for as much money as they make, but there’s a place for them in a real estate deal as a consultant just to shove around the paperwork and make sure stuff gets done on time.

Jill DeWit:                            Right.

Steven Butala:                   That is the real problem. At Land Academy and House Academy, we take all that out of it.

Jill DeWit:                            [inaudible 00:03:19] You’re right-

Steven Butala:                   So your frustration-

Jill DeWit:                            I’m sorry, Steven, you’re right. I hate to say it, but his ego is huge. He sees value in what he’s bringing to the table, an all he’s done from day one is slow this down.

Steven Butala:                   Yeah.

Jill DeWit:                            That seller and I would happily be splitting his commission right now, and everybody be winning, and we’d get the deal done so much faster. So no more retail.

Steven Butala:                   Yeah.

Jill DeWit:                            Every time I forget, and I go, “Okay, fine,” then I’m like, “Here we are again.”

Steven Butala:                   Yeah. We actually have an investor on this house, and we’ve been communicating. This is the last retail deal we’re going to do.

Jill DeWit:                            Yeah.

Steven Butala:                   The amount of time-

Jill DeWit:                            I’m going to start … If you have an agent, move on.

Steven Butala:                   We could have purchased a piece of … And we do. We’re doing it right now. Bought a piece of land and resold it to a wholesale list of buyers that we have all over the country in a minute without any talking.

Jill DeWit:                            Exactly. Anyway.

Steven Butala:                   So, now, everybody’s emotional, and we’re splitting fees. It’s like …

Jill DeWit:                            It’s just not … It takes twice as long.

Steven Butala:                   When people have to argue about stuff like this, there’s something wrong.

Jill DeWit:                            I agree. I agree.

Steven Butala:                   If someone has to explain to you why their real estate commission is worth it …

Jill DeWit:                            It’s just … Right?

Steven Butala:                   … it’s not worth it.

Jill DeWit:                            Ridiculous. Wow. Okay.

Steven Butala:                   Before we get into the real topic, let’s take a question posted by one of our members on the LandInvestors.com online community. It’s free. For the record, Jill, you’re 100% right.

Jill DeWit:                            Thank you. Thank you very much.

Jill DeWit:                            Greg asks, “Hi. Maybe a more general question, but what can you do on vacant land?” I like this. “Regarding zoning, what does it mean if it’s undetermined? Does this mean you can do whatever you want? Are use codes identical in all counties in a state? Where do you guys look up the code?”

Steven Butala:                   This is a very, very good basic question, and I chose to include it of the many question on Land Investors. Many, many that we read through, and I ultimately choose them. For whatever reason right now, I seem to be choosing them. This is a good question. This is a question that we all ask ourselves, even at incredibly advanced stage in our career.

Steven Butala:                   Like, “What can we use this land for? Can I put a house on it? Can I put a mobile home on it? Can I use it to hunt on?” There’s very, very, very specific … The short answer is this. There’s very specific uses for all real estate, depending on its jurisdiction, depending on the municipality that it’s in. In general, if it’s county land, there’s no city municipality, like Los Angeles County. There’s a ton of Los Angeles County … Unincorporated land, is what it’s called. Your use for that land is generally a lot more wide. If it’s in a municipality, now you got to get the county’s-

Jill DeWit:                            Like a city.

Steven Butala:                   Yeah, like a city.

Jill DeWit:                            Like a city.

Steven Butala:                   … the county’s sign-off and the city. Now, do you have to do this for every piece of property? Not at all. That’s what zoning is for. Zoning is very specifical about how you can use the property. So these use codes that this person’s talking about are embedded in our data, or it’s in ParcelFact, too. I think this is coming from ParcelFact. Because use code 400 comes up constantly, which is another reason I chose this question. No one really knows what it means, because 400 in Los Angeles County might be incredibly different in Michigan.

Jill DeWit:                            Exactly, so that answers the second one. It’s not the same wherever you go. Once you learn it, it doesn’t mean you got it [inaudible 00:07:08] so you know.

Steven Butala:                   Unfortunately, the real answer to this question is it really depends on where the property’s located. Then from there, you have to really find out.

Jill DeWit:                            Right. Yeah. That means you have to call the county and find out for sure. Then if it’s in a city, like he said, you have to make one more phone call and double-check for the city, and see if they have any further restrictions. I had one just like this, for example, where it was southern Arizona where it was zoned for rural residential, one unit. And that was based of the county zoning. Okay, got it. But it happened to be in the outlying area of a city. Well, the city took it a step further that not only is it zoned for residential one unit, but it had to be site-built, not a trailer or mobile, or something like that.

Steven Butala:                   Mobile or RV.

Jill DeWit:                            What that means is if it were five miles that way, you could put a mobile or something on it like that. But because it happened to be in the city jurisdiction, they required you pour a pad. That’s what that meant. So that’s the kind of stuff you just have to find out. And it’s not hard. It’s two phone calls, and you know. Then once you at least learn that county, and that city, and that area … Say you have a bunch of mail that went out in the same APN scheme, those all fall in that outline. You can figure out what the map is. At least you have that, hopefully, for your mailer.

Steven Butala:                   Yeah. I can almost guarantee that where it changes, where that line is that Jill referred to, the APNs changed, so you can smoke it out that way. We’ve all been in a car looking out the window, and then all of a sudden, it changes, whether it’s good or bad, or whatever. It just changes, like, “What happened here?” All of a sudden, there’s just a lot of junk on the ground. Or even like the pavement changes, so that could be now it’s no longer a county maintained road. It’s a city maintained road, or vice versa. So there’s always lines where all this stuff … This is a really important, incredibly basic question. But, “What can I use my land for?” It’s like in the soul of what we do.

Jill DeWit:                            Right. Thank you.

Steven Butala:                   Today’s topic, Reasons Why Our Members Stay For Life. This is the meat of the show. Jill’s so amped up right now over this real estate agent malarkey, that I …

Jill DeWit:                            I’m shocked.

Steven Butala:                   And I stand behind her unconditionally on everything. So it takes everything, when these kinds of things happen, for me not to crawl down these agents’ throats. Doesn’t happen that often, but when it does, it’s like, “Come on. We’re so beyond this.”

Jill DeWit:                            But at the end of the day, I just feel like he’s not trying to get the deal done. I’m like, “So why do you exist?” No offense. I don’t mean it like that.

Steven Butala:                   You know what? Really, let’s take an objective-

Jill DeWit:                            “Why are you walking around as an agent wanting to be an investor like me, and you can’t get a deal done?” The easiest type of deal. It’s cash.

Steven Butala:                   What did he really bring to this deal?

Jill DeWit:                            Zero.

Steven Butala:                   He introduced the seller … We fixed-price posted it-

Jill DeWit:                            All right. He brought the little old lady who wanted to buy our house.

Steven Butala:                   We sent out a bunch of mail. The seller called us and said, “Absolutely. I’ll sell it for that price,” and we got the deal done in days.

Jill DeWit:                            Right.

Steven Butala:                   We did our own inspection. There’s no real estate agent involved. We went through like a three or four step process, and we own the property. We set it up to be resold for a lot of reasons, like we chose the right escrow agent, so that’s going to keep the thing open. Not until escrow. We close escrow on it. We own it. But they’re going to resell the property for us. This is a template process for us.

Jill DeWit:                            Right.

Steven Butala:                   We fixed-price MLS it. We spent, I don’t know, two, or three, or $400 just to get it in the MLS. We said, “Yeah, agents, we’ll pay a 3% commission if you bring a buyer,” and he did. And that’s where it stopped.

Jill DeWit:                            Yep.

Steven Butala:                   He brought a buyer. He had the buyer, who lives out of the country … out of the state or out of the country. It doesn’t matter.

Jill DeWit:                            State.

Steven Butala:                   … sign the stuff and make sure that the deal’s going to close, make sure that they have the money, and then that’s when he stopped.

Jill DeWit:                            Yep. That was it.

Steven Butala:                   That’s when he, for whatever reason … Dramatically lack of organization, in my opinion, or maybe it’s just attitude … just shoved it all to the escrow agent. It was his escrow agent, too. He wanted to change to use ours.

Jill DeWit:                            Perfect. Right.

Steven Butala:                   Which is why, Jill? Because that escrow agent, I’m sure, has closed other deals for this guy, so he doesn’t have to do any work.

Jill DeWit:                            Exactly. And now they’re both mad, because I have a better rate, and I said, “We’ll use your agent if you match the rate.” She’s like, “I can’t match the rate.” Well, I don’t know what to say.

Steven Butala:                   We all knew that was coming. What’s really frustrating is that we already know what’s going to happen before it happens.

Jill DeWit:                            Exactly. It took them two days to catch up with me.

Steven Butala:                   It has been a personal frustration for me for the last two decades of my life, where I already know how to do this. I can tell you exactly what’s going to happen. I can tell you where all this things going to fall apart or where it’s going to go great. Inside of 30 seconds talking to somebody as a buyer, or a seller, or an agent, or all that, I can tell you that fast how much of a mess it’s going to be or how great it’s going to go.

Jill DeWit:                            It’s true.

Steven Butala:                   Then when it happens, it’s very, very, very frustrating.

Jill DeWit:                            Yep.

Steven Butala:                   If any of you who have ever wondered why old men get angry, that’s why. Because they can see into the future.

Jill DeWit:                            Thank you. Do you know what further, though? This further proves why our model is so successful, why sellers and buyers love dealing with us. It’s a dream scenario. We’re here to get it done as efficiently as possible, as easy as possible, with as few amount of paper as possible. And just, “Do you want to buy it? I want to sell it. Great. Let’s do it.” That’s it. That’s the way it should be, by the way.

Steven Butala:                   Welcome to Jill’s Rant Week. This is Jill’s Rant Week, by the way.

Jill DeWit:                            Thank you. Hey, so back to our topic, Reasons Why Our Members Stay For Life. This is true. I love this. We have so many members that have been with us for years, and I think it’s the greatest thing on the planet. It’s fine, because we get to know each other. We get to see each other at our annual events, which is really fun. We’re starting to do deals together. That’s, I think, one of the things is that. I mean, actually, that’s like three things. I think that … Do you want me to go first? Is that okay?

Steven Butala:                   Sure. Sure.

Jill DeWit:                            All right. The reasons why I think our members stay for life is, number one, they’re part of a family, part of a group, part of a community where we are all on the same page. We think alike. We are all trying to get to the end and flip property, make some money, and do it right, and be successful. We keep growing together, which is kind of a second thing. As they evolve and their businesses evolve, we show up with whatever tools they need. If they need some more education, help growing their business, some ideas to take it to the next level and help them, we show up with that. We also are real, just like right now, just like this show, just like every day.

Steven Butala:                   That’s it. You nailed it.

Jill DeWit:                            We’re going to tell you like it is, good, bad, otherwise. Like Steve said, today especially, I’m not holding back. I’m not happy, and this guy’s a jerk. I’m not afraid to say it.

Steven Butala:                   No. You’re right.

Jill DeWit:                            I am. He doesn’t know what he’s doing, and he’s handling it wrong. It’s sad that he doesn’t take a moment, take a step back, and try to realize, “Wait a minute. She’s trying to help me here and get this deal done.” Yeah, I am. “Just answer the phone, and let’s do this together, instead of trying to work against me.” That’s the thing.

Jill DeWit:                            Then my last thing is I hope that we’re entertaining. I think that we’re entertaining. I’m entertained.

Steven Butala:                   I think a lot of weeks we may be entertaining.

Jill DeWit:                            I’m entertained. What do you think?

Steven Butala:                   People, on the very surface of it, somehow identify with how we do this. We are data driven, period. We are proven. I take establishing our members’ trust very, very, very seriously. That doesn’t happen by jumping up and down like a monkey on the internet and just saying a bunch of words, like I see a lot of people do, about how to do a real estate deal. It’s proven. We talk about the details, and that excludes the vast majority of the potential members. I have inadvertently, by what I just described, excluded probably 80 to 90% of the potential members that would become a Land Academy/House Academy member. I think that incredibly appeals to the 10%, and that became our target market after a while. I didn’t even know we were doing this when we started it.

Jill DeWit:                            Right. Me, too. Yeah.

Steven Butala:                   When I say things like, “If you don’t understand spreadsheets, you can just keep moving,” it’s not that I’m mean about it. But I’m just telling you it’s such an integral part of this that … Either that or find somebody like me, if you [crosstalk 00:16:34]

Jill DeWit:                            We want you to be successful. We’re going to tell you like it is.

Steven Butala:                   Yeah. You identify with our approach. Maybe you’re frustrated. Like maybe this week you’re listening to this, and you’re frustrated with real estate agents and frustrated with how slowly people move, and being able to see into the future, and you’re just frustrated with that. If that’s the case, you’re going to be in great company in this group.

Jill DeWit:                            Right.

Steven Butala:                   Nothing happens fast enough for this group from a real estate standpoint.

Jill DeWit:                            That’s true. Thank you.

Steven Butala:                   What ends up happening is you become a member for life. The other thing, too, and a much more simplistic from an economic perspective, you have to get the data somewhere.

Jill DeWit:                            Right.

Steven Butala:                   We have priced this whole thing on just that. If you go to RealQuest and get the data, it’s going to be the same price as our monthly membership. This is not a sales pitch. Then you get all this other stuff, tons of it.

Jill DeWit:                            Thank you.

Steven Butala:                   That’s what I think people stay for life. Maybe they are entertained. I don’t know.

Jill DeWit:                            I just want to say that I know that there are a few, maybe three, good agents out there. Just kidding. I’m just kidding. Your sister’s one of them.

Steven Butala:                   We don’t know that, though.

Jill DeWit:                            You know what? If I’d had gone … I’d be killing it right now. If I was a real estate agent, I know I’d be number one, because I would walk around, tell everybody … I would, A, follow through with what I say. B, I would just say, “Are you in or you out?” We’d get the job done and do it right, not fluff people up or talk people into any things. And just do the right thing all the time, you know? Man, it makes me mad.

Steven Butala:                   Getting a real estate deal done quickly is not what a good real estate agent does, I don’t think.

Jill DeWit:                            Yeah. That’s true.

Steven Butala:                   So, no, I have to wonder if you would be a good agent.

Jill DeWit:                            Oh, I would be, because I’d be doing a deal a day. Watch me. People would love me.

Steven Butala:                   Well, you’d be a financially successful real estate agent. Here’s what I think good, valued real estate agents do. They listen. If you take 10 people through a house, they’re going to have 10 different opinions. And I’ll tell you right now, five to eight of them, maybe more, are going to talk about the type of furnishings that are at the house, the kind of faucet sink there is, what’s of the walls, what it smells like, if the carpet needs to be redone, which has nothing to do with the real estate deal.

Jill DeWit:                            Right.

Steven Butala:                   That’s not a real estate deal. That’s like going to shop for furniture. Hold on a second. This is incredibly important.

Jill DeWit:                            Yeah. I have a good point. I think I know where you’re going.

Steven Butala:                   What matters is the price per square foot as it relates to that other property in the immediate area, and that’s what an investor is. A real estate agent’s going to listen to what they’re saying. They don’t like the wallpaper. They want a house to be cleaner. What that real estate’s going to do is say, “You know what? I know you love this neighborhood, and I know you like this house, but I think it might be better if we went and looked at this house that’s all done over here. It’s a little bit more expensive, but it’s all brand new. Actually, it’s even a new home, so they’ll paint it the color you want, and all of that.” So that’s what I think.

Steven Butala:                   If the end user needs that kind of help, because they truly don’t have enough vision to walk into a house and say, “That wall needs to move. That wall needs to stay. I want a new back yard. How much is sod? [inaudible 00:19:59] Right now I’m at about $60,000 in renovation costs. That price per square foot is whatever,” which is how I look at real estate and our members look at real estate. Then if they can’t see that, then I think they should go work with agents for the rest of their life. They’re not real estate people. They have another profession in life, and that’s it. They’re nesting. They’re not buying real estate.

Jill DeWit:                            But what you said is true. I know they’re out there. The good real estate agents, like you just said … I want to recap … They listen to what their buyers want. If their buyers have no vision, what do you do? You take them to a house where it’s all done, because they don’t have the vision. You do whatever it is. You provide them with what they’re looking for. You don’t try to do the square peg, round hole thing and talk them into it. We’re on the same page.

Steven Butala:                   So different. Every single time I say to somebody, “I’m a real estate investor,” they say, “Oh, I was thinking about buying a house in X, Y, Z Beach.” And they just immediately think … Maybe I’m hanging out with the wrong crowd. But they immediately think we’re just real estate agents.

Jill DeWit:                            Nope. Very different.

Steven Butala:                   It’s such a very narrow-minded, unprofessional way to look at it.

Steven Butala:                   Join us next time for the episode called, Rich Girl Talk, with member Faith Hill and Jill DeWit.

Jill DeWit:                            And me. We answer your questions posted on our online community, LandInvestors.com. It is free.

Steven Butala:                   You are not alone in your real estate ambition.

Jill DeWit:                            All right. No more ranting. It’s done. It’s over. I have about 10 days of this guy, and he’s out of my life forever.

Jill DeWit:                            Wherever you’re watching or wherever you are listening, please subscribe and rate us there. We are Steve and Jill …

Steven Butala:                   We are Steve and Jill. Information …

Jill DeWit:                            … and inspiration …

Steven Butala:                   … to buy undervalued property.

Steven Butala:                   Yeah. Is the deal going to close?

Jill DeWit:                            Oh, yeah. It will close.

Steven Butala:                   Seriously. I mean, the buyer …

Jill DeWit:                            Dude, it will close. If I have to call the buyer myself, it will close.

Steven Butala:                   So the buyer’s got the money and all that. The basic stuff’s there. He’s just taking a long way around.

Jill DeWit:                            Exactly.

Steven Butala:                   Thank you, Jill.

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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://houseacademy.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 iTunes.

One Year Investor is Not a Veteran (LA 974)

One Year Investor is Not a Veteran (LA 974)

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 how being a one-year investor, a land investor, doesn’t make you a veteran.

Jill DeWit:                            Exactly. So we’ll help you with that.

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

Jill DeWit:                            Do you know I have three contacts in my eyes right now?

Steven Butala:                   What?

Jill DeWit:                            So if it gets a little blurry, I have a little trouble reading or focusing, this eye has one, this eye has two.

Steven Butala:                   What’s that all about?

Jill DeWit:                            So here’s what happened. Anyone who wears daily contacts knows how great they are/however they are so thin and so light. So you get them in, you get them out. Well, I went to take one out last night and I lost it. It’s somewhere rolling around. I don’t know where it is. I didn’t want to dig. So this morning I got up and I gave it another quick look. Still couldn’t find it, so it’s like, well, here we go. So I popped another one in and I can kind of feel it. You wore contacts for a while, didn’t you?

Steven Butala:                   I wore contacts for years and years and years and one day realized that I just don’t care how I look and got glasses.

Jill DeWit:                            Got it. Well I love my contacts. So anyway, if I act a little weird on one eye, that’s why. For those of you who are watching. Those of you who are listening are like okay, come on, Jill, move along.

Jill DeWit:                            Neil H. asks, “I’m closing on a property today through title with a hold open policy. First American title. Got it. I asked if they could record it quickly with the county, but there’s no promise it will be. It may take two weeks or so to go through because it’s a different department. Is there a reason I can’t put it on the market today? The sale will close through First American title with the hold open. I don’t believe there should be an issue marketing the property prior to being recorded. This is obviously on the buy side. Yeah, especially if everything went though a title and a deed has been signed, right? Thanks.”

Jill DeWit:                            Okay. I have a few things to say. Yeah. First we’re going to take a deep breath.

Steven Butala:                   Which one of us is going to blow our tops first?

Jill DeWit:                            I think you’ve been saving it up, Steven. I think you need the release more than I do this morning, so call me one eyed Jill and go right ahead.

Steven Butala:                   One eyed Jill.

Jill DeWit:                            … It’s all you.

Steven Butala:                   It occurred to me recently that there are two camps of real estate investors. Camp number one-

Jill DeWit:                            Oh no.

Steven Butala:                   Which is the camp Jill and I are in and most of the people in Land Academy are in, that understands completely and totally that they have control over a real estate deal and not only that, but probably everything else in their life. They can choose who they marry, they can choose-

Jill DeWit:                            Where they work.

Steven Butala:                   What type of car they drive, whether it’s paid for or not, where they work.

Jill DeWit:                            Right.

Steven Butala:                   They can choose the exact date a real estate deal will close and when it will get recorded to the minute.

Jill DeWit:                            Yep.

Steven Butala:                   If they have the right people around them and they’ve retained the correct real estate title company or lawyer or whatever. So this notion that you could contact a title company and say, “Hey, when is that going to close?” That’s not a sentence I’ve ever said in my life. My way is, “Hey, thanks escrow agent X. We need this to close in seven days. Is that going to work for you? If not, I’m just going to go down the street.” But I don’t say that, and you sweet talk them to the point where they want to close it for you in seven days and then while you’re at it, maybe you say, “I’d really rather have it close in five because we’re done. It’s funded and it’s an incredibly simple deal.”

Steven Butala:                   Title companies have access to online recording now. So unless the county where this property is is in the dark ages, they should record it that minute. Jill and I bought a townhouse once. We still own it. We rent it out, actually, to a friend of ours in Arizona and the whole thing took three days. It was recorded. All the stuff was recorded before I signed it. I walked in and signed it, signed it, signed it, and it was recorded within seconds after that and you can just do it on the internet.

Jill DeWit:                            Right.

Steven Butala:                   I have a lot more to say, but go ahead, Jill.

Jill DeWit:                            How long do you want this to go?

Steven Butala:                   This is an incredibly important topic.

Jill DeWit:                            It is.

Steven Butala:                   You need to decide if, whoever you are, you need to decide if you’re going to control these real estate deals or if you’re going to let real estate agents or lenders or your money partner or your business partner, or if you want someone else to control your life, there’s a ton of jobs for you on, what is it, Indeed?

Jill DeWit:                            Yes.

Steven Butala:                   Go get a job and work for somebody else and get comfortable.

Jill DeWit:                            Okay. Get comfortable. You got this. It’s okay.

Steven Butala:                   It’s [crosstalk 00:05:27]. That’s just not right.

Jill DeWit:                            I know. So here’s the thing. I think a lot of people, Steven, they don’t know they have control. That’s the whole point here. You have control. You can tell them yes, you can tell them, no that’s not acceptable. You should go into it right away and they should have the expectation of how it’s going to go and you tell them, “Here it is, it’s a cash deal. Here’s all the terms. What else do you need from me? We want to close this date.” Done. Walk away kind of thing and they should get it. And a lot of them don’t realize that they’re driving the ship. I’m constantly telling even my team that hey, escrow agents and title agents work for you. You don’t work for them.

Steven Butala:                   Good. Well said.

Jill DeWit:                            I think that people misunderstand that. They think, “Well, I’m told we’re going to close this day.” I’m like, “Nope.” And if it doesn’t work for you, by the way, you can walk. You pick up your deal and you say, “Nevermind. Have a nice day.” And you walk to somebody else. Or pick up the phone, really.

Steven Butala:                   And they don’t care, by the way.

Jill DeWit:                            No. It’s like, great, thank God.

Steven Butala:                   They’re like, “Thanks. I can take it off my list.”

Jill DeWit:                            Thank god that was off my thing. I was busy anyway and it wasn’t on me. I can say that they backed out so my boss is not going to get mad at me. Fine. Who cares? Escrow agents can screw up deals and for this reason and real estate agents. I have one right now, too, where the real estate agent is walking around like he is subject to everybody else kind of thing. I’m the one taking control. I’m the seller and I’m like, “Somebody’s got to step up and take charge here and I guess it’s me. Over four people here, I’m the one taking charge.” So anyway.

Steven Butala:                   Of all the people in our advanced group there’s not one single person that I can think of who is passive in nature.

Jill DeWit:                            Right.

Steven Butala:                   Where they just accept from anybody in a real estate transaction that X date is when it’s going to close.

Jill DeWit:                            Right.

Steven Butala:                   And here’s what happens. Here’s how you get sucked in. A title agent may say something like this, “Well, 25 days is our typical close time frame and here’s why. It has to go to the title plant department and John over there at the title plant department has to walk it into the county because that’s what he’s been doing ’cause he’s 92 and that’s what he’s been doing for a very long time and we know it takes a little bit longer where we love John.” And so it becomes this now what you’ve done as an investor have let it become a discussion.

Jill DeWit:                            Yeah.

Steven Butala:                   You have let someone just start down the path of explaining and really selling you something that you don’t want.

Jill DeWit:                            Right.

Steven Butala:                   Instead of saying, “Okay, hold on. Hold on. I need the deal done in seven days. Actually, really five. I can live with seven. Do you guys do that ever?” “No, we really don’t.” “Okay, thanks. Next.”

Jill DeWit:                            Yep. That’s exactly what needs to happen, and so in this situation, to answer the question, you need to pick up the phone and call them and say, “We’re getting it recorded today.” And if they say, “Oh, no, two weeks.” “Oh, all right. I need to talk to your boss, and your boss, and your boss, and your boss. We’re going to get it recorded today.” And like you said before this show, if I have to go down there and pick it up myself and walk it into the county, I will. But and then back up, too, as a side note, have them send you a copy of the signed deed ’cause right there, that solves it. We all know once the deed is signed, the deal is technically done whether or not it’s recorded everyone. That’s the facts.

Steven Butala:                   The fact is that is not acceptable. It’s a theory and Jill’s 100% right, but in reality, 99% of the world believes that when it’s recorded, the deal’s done. And they’re right. And they’re right. ‘Cause we’re not teaching a philosophy class here. This isn’t college.

Jill DeWit:                            Right.

Steven Butala:                   We’re here to make money and get stuff done. If I sound upset about this, it’s ’cause I am and I’m not upset with you, Neil.

Jill DeWit:                            You’re not contradicting me.

Steven Butala:                   Not at all.

Jill DeWit:                            Okay, thank you.

Steven Butala:                   Not contradicting you and I’m not upset with the person who asked this question. I think it’s a brilliant question. I was just thinking this is show number 974.

Jill DeWit:                            Yeah.

Steven Butala:                   We’ve never talked about this topic before. I can honestly tell you. There’s some topics just by the nature of their [inaudible 00:09:34] that there’s so many episodes.

Jill DeWit:                            Right. This is a good topic, too.

Steven Butala:                   That’s why I wanted to take some time. I know we’re going over on time, but I don’t care.

Jill DeWit:                            You’re in charge. No, no, no. Not you’re in charge, but you’re in charge.

Steven Butala:                   No, I’m in charge of this podcast, too, thanks.

Jill DeWit:                            Well I meant that. No. Don’t be a stinker this morning, all right? Come on. You’re being kind of a stinker with me.

Steven Butala:                   That’s what I thought you meant. No, not with you, one eyed Jill.

Jill DeWit:                            No. Okay.

Steven Butala:                   Not you.

Jill DeWit:                            All right. Anyway.

Steven Butala:                   I’d never be a stinker with you.

Jill DeWit:                            Thank you very much. Okay.

Steven Butala:                   All right. So control your own real estate deals. Feel free to terminate people as you’re going. It feels good.

Steven Butala:                   Today’s topic, one year investor is not a real estate veteran. This is the meat of the show. Jill came up with this topic and I think it’s brilliant.

Jill DeWit:                            Well, ’cause you know I was talking to people about this and that’s I think why we’re here. So many of our members have come to me and come to us and said, “That’s why I’m with you guys.” There are people out there that have learned from you and are doing different versions of you, which I love and I think it’s the greatest thing on the planet that people put there own spin on things, but they have said that, “I want to be with someone who’s done as many deals with you. I know that, Jill, I can ask you a question and you probably really have had that happen.” Kind of thing. And that is true.

Jill DeWit:                            And so it made me think about it a little bit more ’cause I feel the same way. I want to be, wherever I am, whatever I’m doing, wherever I’m learning from, if I’m learning from somebody, I want to talk to someone who’s been there. I want the professor, not the intern. I want experience. I want to know that I ask the questions and they’re not guessing. They really have experience to back up their answers. So I don’t want to pick on anybody, but I’m just kind of reminding everyone how valuable experience is and your experience is.

Jill DeWit:                            So then I took it one step further and I’ll see what you think about this topic, but I was thinking is there any situation, dream it up, Steven, can you think of any situation where this concept is not good? For example-

Steven Butala:                   More experience is not better.

Jill DeWit:                            Right, right. Exactly. So do you want a pilot who just learned how to fly? Do you want a doctor who just graduated?

Steven Butala:                   Oh, gosh.

Jill DeWit:                            Do you even want a school bus driver that just got their license?

Steven Butala:                   No.

Jill DeWit:                            So it’s kind of the same thing. You want to be whatever you’re doing, wherever you are, and whatever you’re working on. You want experience. Gosh, it ties back to the question of the title agent. I don’t want a title agent fresh out of title agent school or whatever that is.

Steven Butala:                   There’s no such thing as title agent-

Jill DeWit:                            I know. I was just going to say-

Steven Butala:                   Jill, title agents have no experience.

Jill DeWit:                            Isn’t that funny? they don’t even have a license. There isn’t a formal education.

Steven Butala:                   It’s nothing. They just showed up for the job one day.

Jill DeWit:                            Here you go.

Steven Butala:                   And they listened to the person two desks over.

Jill DeWit:                            Yeah, and said, “Here’s my checklist. I have to make sure I have these 10 documents.”

Steven Butala:                   That’s it.

Jill DeWit:                            You know it’s really funny about that, too.

Steven Butala:                   That’s what happened with the question today. Some other title agent told that title agent. They had two weeks to record a deal and they’ve been doing it like that for five years.

Jill DeWit:                            Exactly.

Steven Butala:                   And everybody’s like, that’s fine.

Jill DeWit:                            Yep. We’re starting an average of 10 deals a week with deal funding and it’s funny because, and they’re all through escrow, and it’s funny because my assistant in this project is new to this kind of transaction and he’s like, every single deal, every escrow agent submits new documents. And it was funny, we were having fun the other day. I showed him how to draw the lines through things that are not applicable, we’re not doing it, I’m not signing it kind of thing. There’s always something new out there they’re showing because what you just said. Anyway.

Steven Butala:                   Wow.

Jill DeWit:                            Wow what?

Steven Butala:                   No, that just gets you thinking. Every document that I sign in real estate, I do the inverted Z.

Jill DeWit:                            Mm-hmm (affirmative). That’s what we’re doing.

Steven Butala:                   With the ruler and a blue pen because it doesn’t apply. These template real estate agreements are all for houses and we buy land. So half of it just has nothing to do with anything. In Arizona there’s this thing called SPUDS, it’s an acronym. Is there any radon? Do you know if it has lead paint? All these questions. The answer’s always I don’t know.

Jill DeWit:                            Right.

Steven Butala:                   ‘Cause you don’t know. So that doesn’t apply to us at all and there are escrow agents and a lot of real estate agents that flip their lid over this.

Jill DeWit:                            They don’t even read it.

Steven Butala:                   I had a deal one time where this guy who has just a control freak real estate agent, was on a primary residence a lot of years ago, before I met you, Jill. And I went in, live every deal, I went in, I’ll just say it, bull in a china shop, turned the contract around so it’s facing me ’cause I’m the one that’s signing it and I’m the customer and the client. Grabbed it, started reading it, and started marking it up and it’s not dainty marking. It’s like I’m angry that I have to even do this anyway.

Jill DeWit:                            Exactly.

Steven Butala:                   If I sound upset about this stuff today, I am, because this is what hold great real estate investors back.

Jill DeWit:                            It’s true.

Steven Butala:                   Idiot real estate agents that are over dressed and have an over ridiculous concept of who they really are.

Jill DeWit:                            Ego.

Steven Butala:                   It’s just insane, and then they’re going to manipulate me and tell me what to sign and what not to sign? They passed a test one time, usually a lot of years ago, in this guy’s case it was a millennia ago.

Jill DeWit:                            Yeah.

Steven Butala:                   So come on. The deal didn’t close. I said, “I’m either going to sit here and sign this and read it and not cross out the stuff that I want, initial it and date it, or I’m not.” It’s up to you. And so he backed off and the deal didn’t happen anyway for other reasons.

Jill DeWit:                            Right.

Steven Butala:                   You’ve got to control your own life.

Jill DeWit:                            I get it. Do you have anything else to say about the one year investor topic?

Steven Butala:                   Oh, yeah. I can summarize it like this, there are a lot of people, especially with the way the internet is now that want to be famous and want to get likes and hits. This is no surprise to anybody.

Jill DeWit:                            Right.

Steven Butala:                   That are just using land as a vehicle to do this, and you can see it a mile away. For some reason, real estate or land just sings to them or that’s what they’re choosing to get their likes or their hits on the internet and so I think that’s a non-issue. You can tell who’s really reasonably bright and knows what they’re talking about inside of maybe 30 seconds, 60 seconds on any given show. The tragedy is there’s a lot of new people and they start down a path of somebody like that and maybe ’cause they’re entertaining and find out later that’s just not the case.

Jill DeWit:                            Thank you.

Steven Butala:                   So what do you think makes a veteran? Number of deals or gray hair or what?

Jill DeWit:                            Both. Yeah. Honestly, I’d go with number of deals. I would go with deals and time. There’s a balance. Like the unicorn chart, there’s a balance.

Steven Butala:                   It used to be that I’d see you want somebody in their 20s. Most of the people that are on our staff that have to do with IT and marketing are in their 20s and that wasn’t intentional on our part.

Jill DeWit:                            Right.

Steven Butala:                   We interviewed everybody. It’s not going to stop us from interviewing, but they ended up being the best candidates.

Jill DeWit:                            But some are in their 30s ’cause they have experience to follow things all the way through.

Steven Butala:                   I mean young like that. I’m not sure you want a 75 year old IT person.

Jill DeWit:                            True. Could you imagine? Just think of it.

Steven Butala:                   I’m not saying I wouldn’t interview that person because of that, ’cause I literally would. Just if not for any other reason just to see.

Jill DeWit:                            I wonder if I came to you and I brought in Jim that used to be the escrow agent that took two weeks to do his title search, right? I said, “Hey, Steven. He’s gonna set up our texting service. He texts his grandkids, he knows all about it. He’s got this down.” That would be awesome. Oh boy.

Steven Butala:                   I think that when you’re new at something, it’s really important to give away your time. That’s the concept of what an intern is. I’m new, I’m enthusiastic, I have more energy than you do, but I need your experience. I need you to say how a closing goes. I don’t know.

Jill DeWit:                            I’m sorry. This just goes back years. If you’ve been listening to us for a while, you’ll remember this. Remember at the county office we had the zoning guy, Doug, and then the other brother, Doug. What were their names?

Steven Butala:                   Oh, their brother Daryl.

Jill DeWit:                            Daryl. Daryl and the other brother Daryl. One was the recorder and one worked in zoning. [inaudible 00:18:37]. Do you remember that?

Steven Butala:                   No, Daryl said, “I can record this. No, no. That’s my other brother, Daryl.”

Jill DeWit:                            That was a long time ago.

Steven Butala:                   I think that’d be a lifelong excuse you could use.

Jill DeWit:                            That is so funny. Shoot, I’m going to use that today. I should have said, “Nope, that’s your other boss, Jill. Not this one.”

Steven Butala:                   I went to high school with two identical twins and no one could tell them apart.

Jill DeWit:                            Girls?

Steven Butala:                   No, they were guys and if you talked to them, you could tell immediately for a million reasons they are the most different people there ever was, but you couldn’t physically tell them apart. They would take each other’s tests. They would show up for work for each other ’cause they had each other’s number, man.

Jill DeWit:                            Dude, I would totally do that. Are you kidding? I wish I had a twin.

Steven Butala:                   I know. It’s like when you think about it, what if you had a second person? Yeah.

Jill DeWit:                            Brilliant. I would have done that all day long. There’s no reason, hey to quote you, there’s no reason we both should suffer here.

Steven Butala:                   Can’t say that we talk about [inaudible 00:19:32] with our kids.

Jill DeWit:                            Exactly.

Steven Butala:                   Are you going to do it or I should do it? ‘Cause we shouldn’t both suffer.

Jill DeWit:                            We shouldn’t both suffer. You go to the game, I’ll go do this.

Steven Butala:                   One was great at math and one was more of a right brain person. It was whatever worked and they just together killed it. I wonder what happened to those guys. I hope they still do it.

Jill DeWit:                            I hope they’re running some big company right now.

Steven Butala:                   I hope their finger prints and stuff are the same.

Jill DeWit:                            And everybody thinks there’s only one of them. They think there’s one CEO. They don’t know that there’s two of them. Awesome.

Steven Butala:                   The Olsen twins.

Jill DeWit:                            That’s awesome.

Steven Butala:                   Well you’ve done it again. You’ve spent another 20 minutes or so listening to The Land Academy Show. Join us next time for the episode called reasons why our members stay for life.

Jill DeWit:                            And we answer your questions posted on our online community at landinvestors.com. It is free.

Steven Butala:                   You’re not alone in your real estate ambition.

Steven Butala:                   Well that was an interesting show, Jill. One eyed Jill.

Jill DeWit:                            Yeah, thank you.

Steven Butala:                   How’s that going at this point?

Jill DeWit:                            It’s good, thanks. I’ll have a patch on my eye tomorrow. No worries.

Steven Butala:                   It looks like you’ve had just a little too much to drink when you do that.

Jill DeWit:                            Right. Wrong eye. Wherever you’re watching, wherever you are listening, please subscribe and rate us there. It means a lot. We are Steve and Jill.

Steven Butala:                   We are Steve and Jill. Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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

The BuWit Family of Companies include:

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https://landacademy.com

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https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://houseacademy.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 iTunes.

Childhood Markers that Lead to Land Investing (LA 973)

Childhood Markers that Lead to Land Investing (LA 973)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Happy Friday.

Steven 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 Butala:                   Today, Jill and I talk about childhood markers that could lead to your serial land investing habit. This is show 973, by the way.

Jill DeWit:                            Wow.

Steven Butala:                   We are rapidly approaching show 1000.

Jill DeWit:                            1000.

Steven Butala:                   Which will be in June. June of this year.

Jill DeWit:                            Wow.

Steven Butala:                   Truly amazing. I’m amazed.

Jill DeWit:                            It is.

Steven Butala:                   When we started this, I figured we’d just do a couple weeks of episodes or something. I don’t know.

Jill DeWit:                            Exactly. I had no idea what were doing.

Steven Butala:                   I just figured nobody would listen to it. That’s really what I thought.

Jill DeWit:                            And then our weekly member calls, I’m like, eh, let’s see how it goes. Let’s turn it on and see if everybody wants to do it.

Steven Butala:                   Our listenership’s wide.

Jill DeWit:                            I’m like, wow. There’s a lot of people that show up and they want to talk. They like this. So we’ll keep doing it.

Steven Butala:                   Before we get into the topic, let’s take a question posted by one of our members on the LandInvestors.com community. It’s online and it’s free. We will keep doing it until people stop listening. I’m serious.

Jill DeWit:                            Thank you. It says Steven Jack Butala asks Jill DeWitt. Is that right?

Steven Butala:                   Yeah. I’m asking. Because I wrote a question.

Jill DeWit:                            Oh. I didn’t see it.

Steven Butala:                   Steven Jack Butala asks Jill DeWitt the following.

Jill DeWit:                            What common personality attributes you see in successful people and unsuccessful people? Well, this caught me by surprise. I’m like why is my name up there? What are you doing? Okay, so, what common personality traits do I see in successful people versus unsuccessful people?

Steven Butala:                   Because it leads into the topic. The answer to this question is all really about this topic. In fact, let me just say, this is the meat of the show.

Jill DeWit:                            Okay. Gosh. I mean, we’ve talked about it recently. There’s an underlying drive. It’s nature, obviously, more than nurture. It’s your personality. You don’t stop. You don’t give up at things. You solve problems. You’re not afraid of things. And I think that’s what makes people successful. I’m really having to think about this for a second. Unsuccessful people, that’s easy. They give up at the first sign of any kind of a hiccup in the road, bump in the road. They’re like, “Oh, that’s it. I’m out. Never going to work. Done.” And usually it’s something else going on. It’s really not that. They were afraid of it. Or I think it’s usually fear and that’s why.

Steven Butala:                   So I could not agree more and here’s a glaring example of something that happened to me before we started recording today. I took a staff member under my wing recently, to help me do a bunch of land acquisitions. There are several places where I kind of go back to the well, so to speak, and it doesn’t happen all the time, but they have a tremendous amount of back tax property that just… They don’t advertise it. They only send it to like 10 of us that have purchased back tax properties directly from the county in the past. They don’t want to go through the whole process so I got one of these notices.

Steven Butala:                   And it said, “Hey, I just wanted to let you know we have like 17 million properties that we just put back on the… Come and purchase it and write a check and buy it.” To get the list, you have to send a check for… To get the list, go here and we will send it to you. And I said to my new assistant, “Please go do this.” And he came back and said after talking to everybody there 50 times, “You have to come and pick it up. It’s on a CD. To come to the county and pick it up. So we can’t do it.” And that’s where he left it. And this guy is one of the brightest guys I’ve ever worked with. I mean, truly, he’s a treasure. Once in a lifetime employee. And it stopped right there for him. So I got on the phone, because this is a place that I’ve lived in the past and I know a lot of people. In the end, we’ve got people going down there to pick the thing up and it’s working. It’s that. That’s what I think is the trait, because I didn’t even flinch about it. It’s we’re going to get that list.

Jill DeWit:                            That’s just so funny. You and I are the same way. It’s good news and bad news. You and I, my parents told me this a long time ago, you’re going to be either… You’re going to do great in something. You don’t take no for an answer kind of thing.

Steven Butala:                   Yeah.

Jill DeWit:                            And I don’t take no for an answer. I’m like there’s a way around this and I will get to the bottom of it and that’s what you just described. Well, that’s easy. Let’s hire someone. Heck, if I have to go on Craigslist and hire someone $50 to drive over to the county, pick up a dumb thing. I can get a notary that I can hire to go over to the county-

Steven Butala:                   Listen to yourself-

Jill DeWit:                            … pretend to be a representative of mine-

Steven Butala:                   Jill, listen to yourself.

Jill DeWit:                            I can send them a business card.

Steven Butala:                   You’re solving the problem already.

Jill DeWit:                            And they can walk in and say, “Hi, I’m here. I work for… I’m here for the CD.” “Oh, here you go.”

Steven Butala:                   Actually, I like your solutions better than mine.

Jill DeWit:                            And they’re leaving and they shove it in an envelope and they send it to me. Done. That was too easy. And I trust these notaries. I mean, I look them up, I know where to get them. I have a relationship with them. That’s easy done. They would do that.

Steven Butala:                   We were made for each other.

Jill DeWit:                            Thank you.

Steven Butala:                   Your solutions are better than mine and cheaper. Faster.

Jill DeWit:                            Thank you. Thank you.

Steven Butala:                   But there’s no way I’m not getting that list.

Jill DeWit:                            Yep.

Steven Butala:                   There’s just no way. I’ll fly somebody out there.

Jill DeWit:                            Yeah. I also have that personal assistant’s business card if it’s near that person’s area. She’ll drive over there in a heartbeat and get it. Done.

Steven Butala:                   I have approached everything that way in my life since as long as I can remember. I have to ask, since we’re talking about markers in your childhood, were your parents like this?

Jill DeWit:                            My dad was, yes.

Steven Butala:                   Neither one of my parents were like this.

Jill DeWit:                            Actually, my mom was, too. You know what, they were. Yeah, they were. They both left town at 18 to start a new life in California and gone. And didn’t have any fear. It was weird, because they obviously didn’t know each other. They came from different states.

Steven Butala:                   Is your brother like this?

Jill DeWit:                            Oh, gosh. Yes.

Steven Butala:                   My sister is, too.

Jill DeWit:                            Same thing. No fear. None.

Steven Butala:                   Yeah. My sister is afraid of nothing.

Jill DeWit:                            Like all right. We’ll just figure it out.

Steven Butala:                   And she’s been like that as long as I can remember, too.

Jill DeWit:                            For me, too. You know what’s funny? It’s not scary for me. This is even more, though. I wrote down childhood markers which are not like in your soul childhood markers, but these are kind of in your soul. But for me, the challenge of figuring it out makes it even more fun and more exciting. You know, like all right. I got this. I’m going to figure out a way. It’s going to be good. I don’t know how I’m going to do it. But I’m going to get it done. And the fear of not knowing, like all right, I’m going to try this. Watch. Got my back? That kind of thing. Here we go. That makes it even more fun.

Steven Butala:                   The older I get, the more I don’t want to execute it, I just want to oversee it and make sure the outcome’s going to be how I need it to be. And that’s kind of the attribute, I think, or I don’t know. That’s-

Jill DeWit:                            Funny.

Steven Butala:                   That’s the voice of experience coming out, because not even that long ago, I had to do it myself. I had to design the website. I had to create the graphics. Do the Photoshop piece of it. Add all the content. All the parts of the startup. I had to have my hands in it, and so I knew about it and then turned it over to somebody else. And I think, personally, looking back on that, that’s taking it too far.

Jill DeWit:                            Back to your first point. Like now you’re up here. That’s what Land Academy is. Now you and I are helping others and teach others and it’s more exciting for me to watch them do it and them to experience and them to get the excitement, like, “Oh, my gosh. I just sold this property. I’m so happy.” I’m like, “That’s great.” That gives me the inspiration and I love it.

Steven Butala:                   I still get completely jacked, off of buying a good piece of property cheap.

Jill DeWit:                            Yep.

Steven Butala:                   I mean, it’s the core of what we do. That’s the driver for this whole real… It’s just a great deal. And you created it by sending an offer. It’s not that somebody sent it to you or there’s a broker involved or any of that stuff.

Jill DeWit:                            Okay. I have a couple things I want to run by you. I have four things on this topic. I want to see how you feel about it.

Steven Butala:                   Yeah.

Jill DeWit:                            Number one, what do you think about, do you think it has anything to do with growing up in an area where there’s serious development all around you?

Steven Butala:                   Like real estate development?

Jill DeWit:                            Yep.

Steven Butala:                   No.

Jill DeWit:                            Really?

Steven Butala:                   No.

Jill DeWit:                            Well, I attribute some of that-

Steven Butala:                   Not anything. Because I grew up in an area where there was no development.

Jill DeWit:                            But it was a very affluent area. Weren’t there people moving up and getting homes and you’re seeing new homes being built and-

Steven Butala:                   No.

Jill DeWit:                            No? Interesting. See, I did. All right.

Steven Butala:                   Everybody I grew up with who was influencer in my… was all ordinary income. This is a chapter in my book called Ordinary Income. Nobody knows what it is. If you own a manufacturing facility, you make ordinary income. If you own a retail store, like a convenience store, ordinary income.

Jill DeWit:                            Cool.

Steven Butala:                   If you own a real estate company that buys and sells real estate constantly, ordinary income.

Jill DeWit:                            Well, I’ve got one, then let me get you my second one, then, and I think you’ll agree on this one. Family investing or someone else successful that you saw.

Steven Butala:                   Yeah.

Jill DeWit:                            Thank you.

Steven Butala:                   That was a massive influencer for me.

Jill DeWit:                            Thank you. Me, too.

Steven Butala:                   In fact, chances are, none of this would’ve happened if I didn’t have… There’s several, two or three, a handful of key people that-

Jill DeWit:                            Kind of role models. They didn’t mean to be role models.

Steven Butala:                   Yeah.

Jill DeWit:                            They didn’t know they were role models. But they were role models.

Steven Butala:                   Yeah. They didn’t go out of their way to even have a conversation about it, but-

Jill DeWit:                            But we knew.

Steven Butala:                   … kids are sponges, you know.

Jill DeWit:                            Exactly. Okay, that’s cool. What about did you have a job-

Steven Butala:                   Yeah.

Jill DeWit:                            … that was somehow related, early on, in land investing? Okay. What was yours?

Steven Butala:                   Oh, no. You mean in real estate?

Jill DeWit:                            Yeah.

Steven Butala:                   No.

Jill DeWit:                            Okay. See mine was… I don’t know if I was drawn to it or if it was just my first full-time gig, but that was my first full-time gig working with these developers and for me, it just kind of hit it home again, like look at what these guys are doing here. They buy a piece of dirt. They built it. They literally got a construction loan, built an office building or a strip mall, lease it up, and kept it. That was the funny thing, too. They didn’t sell it. They leased it up and kept it.

Steven Butala:                   When I was a kid, my parents, the house that I was born in, they paid $13,000 for it. This is way before I was born. And then when I was about in sixth grade, we moved to another house, a much bigger house, in a different neighborhood. And so I started asking all the questions that a sixth grader would, like what did you pay for this house and what did you pay for this new one and where did you get the money for it? And how does it work with the loans and the whole thing? Or maybe normal kids don’t ask that. I don’t know.

Steven Butala:                   But I asked it at that time and I distinctively remember them saying, “We purchased the house for 13,000 bucks and we sold it for 87. And we’re buying the new one for 125 and we’re putting this 87 into it and we’re getting a loan for the rest.” Or they got money out of their savings. I don’t remember. It was a long time ago, in the 70s. And I specifically stopped and asked my dad this question, “Well, why doesn’t you just buy every single house in the block and do that?” And he laughed. And everybody laughed. And then that was it. I never got an answer to the question, but I was really, really answering that question. If it’s that easy to buy something, live there for five or six or eight or 10 years, sell it for that much more money, why wouldn’t you just buy the whole town?

Jill DeWit:                            Exactly.

Steven Butala:                   And that was the beginning of all this.

Jill DeWit:                            Right. Well, that ties into my last point which is, at a young age, you were able to see the value in real estate.

Steven Butala:                   Yes.

Jill DeWit:                            And many people can’t do it.

Steven Butala:                   Hell yes. That’s the answer.

Jill DeWit:                            Right. Same here. I was watching it and going, “Hey, wait a minute.” Watching my parents move up and do different things, too, and I’m like, yeah, wait a minute. Watching my dad buy multiple… He did buy a bunch and rented them out. I’m like I need to be doing that.

Steven Butala:                   My dad bought a farm that he saw the value and he took us there. And he said, “See, this is a farm. But it’s going to be all houses.” And he was smart enough to meet us from where we were coming. We’re little, tiny kids. We’re in grade school. It’s a farm now. But look over there. See all of those houses? That’s what this is going to be.

Jill DeWit:                            Exactly.

Steven Butala:                   So he purchased… Back then, you could do crazy stuff, because there’s no internet. He went to the farmer and said… The farmer didn’t know back then, what it was worth.

Jill DeWit:                            Right.

Steven Butala:                   Everybody knows everything now, because of the internet. And so he bought it and immediately resold it. That was probably the first land deal I was involved in, I’m sure.

Jill DeWit:                            There you go. This is good. This is a good topic. I wonder-

Steven Butala:                   It leads in to, so hopefully everybody’s thinking, having these thoughts, whoever’s listening or watching this, is having these thoughts about how it applies to you. Because if you experienced these things or even if you experienced them last week and you’re still asking yourself these questions and everybody around you and they’re all looking cross-eyed like they don’t get it but you do, these are good markers for you to be a real estate investor. All kidding aside, if you ask a regular real estate agent any of these questions, they’re going to look at you like, well, do I get to dress up? Do I get to have a new Lexus?

Jill DeWit:                            Right. That’s not what this is.

Steven Butala:                   If you’re a real estate investor, you don’t care about either one of those things. In fact, you don’t want a new Lexus and you can’t stand dressing up.

Jill DeWit:                            Yeah. That’s not what this is. Exactly. I was thinking, too, the number of member that we have that are they’re family, they saw it from their parents. I can think of a number of members right now that their fathers are involved with them, you know what I mean? And they saw it. They grew up in it, in their childhood, so this is really good. Good topic. I’m glad you brought this up. Thank you. I like this.

Steven Butala:                   What I think is even in more depth I ask myself this all the time, why would someone… Let’s say that you have all these markers and these childhood experiences, then what makes you become like the CEO of Shea Homes, where for whatever reason, it makes a lot of sense for you to buy a bunch of farmland or ranch land and subdivide it, do the entitlement process, put rows and stuff in and go vertical. Go vertical with the houses is what the industry calls it. So why would choose that over strip malls or inner city apartment buildings or there’s a million little facets of real estate that you can go into? Why raw land? Why not something else? Because there’s a lot of arguments. If you get six or seven or 10 people sitting around who are in different facets of it, they’ll argue great points about why theirs is the best.

Jill DeWit:                            True.

Steven Butala:                   And it’s not always, well, mine’s more profitable. It’s always just, well, it just kind of makes sense to me to bulldoze a 40 acre farm situation on the outskirts of Phoenix-

Jill DeWit:                            It’s true.

Steven Butala:                   … and slap up tract houses. That’s never made sense to me. It’s a massive freaking… When there’s arguing with municipalities, I’m out. Jill and I just tried to subdivide a piece of property in Mesa, Arizona and I lost patience after, I think, two months.

Jill DeWit:                            Yep.

Steven Butala:                   And we probably could’ve gotten it done.

Jill DeWit:                            We sold it before that, so that saved us. We were getting it done.

Steven Butala:                   Well, and here’s why, because I asked myself that question for a lot of years. I’m an acquisitions person.

Jill DeWit:                            Right.

Steven Butala:                   I was an acquisitions person when I got out of college and I am right now. I just happen to be buying a different product and I’m buying it for myself without lenders. Or partners, for most of the time.

Jill DeWit:                            Ding ding.

Steven Butala:                   What are you?

Jill DeWit:                            I’m a salesperson.

Steven Butala:                   Yeah.

Jill DeWit:                            I like talking to people. I do like the investing part of it, but I like more of the sales side of it.

Steven Butala:                   I ended up in data and I ended up with all these schemes of trying to reach sellers more effectively, because I’m truly an acquisition person. That’s the root of it.

Jill DeWit:                            Right.

Steven Butala:                   And so if you’re sitting around saying, unfulfilled somehow, it’s probably some version of that. Professionally unfulfilled, it’s like, God, I’m an acquisition person or I’m a startup. I see it with startup people a lot. It’s in their soul to just start something.

Jill DeWit:                            It’s true.

Steven Butala:                   It doesn’t matter about the money anymore. Once you have enough money, this is in my book, too, once you consistently, for over six months, have enough money to pay your bills and some leftover, so it’s going into your savings, even if it’s like 10 grand a month left over, it stops being for money.

Jill DeWit:                            Yeah.

Steven Butala:                   That, in my opinion, is when you really start to make some good decisions and get that thing out of your soul. It’s in there and it needs to get out. Am I making an idiot out of myself?

Jill DeWit:                            Nope.

Steven Butala:                   No, seriously, am I?

Jill DeWit:                            Nope. No, you’re not. It’s really, really good.

Steven Butala:                   What’s just nope?

Jill DeWit:                            No, no, it’s great. No, I love it. There’s nothing for me to add. It’s perfect.

Steven Butala:                   Well, what’s in your soul, because you’re very passionate, every day. There’s something in there for you that you just need to get out every day.

Jill DeWit:                            I do. It sounds cliché, but I get the biggest kick out of passing on the tribal knowledge and helping the next guy, whether it’s helping our members, our kids, somebody else. I’m doing just fine. There’s nothing more that I need. Nothing more that I want. I just have so much fun seeing… I like seeing other people light up like, “Oh, my God. I just did that.” Yes, you did.

Steven Butala:                   Yeah.

Jill DeWit:                            Even our employees, watching our employees grow.

Steven Butala:                   Yeah. Me, too.

Jill DeWit:                            And get better at things and they’re like, “I did it all by myself.” I’m like, “Yay.” There’s part of me that goes, “Yay. I don’t have to do it anymore. And yay, now you know how to do it. And you’re good. And you might be better than me. And I think that’s awesome.”

Steven Butala:                   Well, you’ve done it again. You’ve spent another 15 minutes or so listening to the Land Academy Show. Join us next time when Jill and I talk about how a one year investor is not a veteran.

Jill DeWit:                            And we answer your questions posted on our online community, LandInvestors.com. It is free.

Steven Butala:                   You are not alone in your real estate ambition.

Jill DeWit:                            Good show.

Steven Butala:                   Heartfelt show.

Jill DeWit:                            That was really good. You brought up some really good points.

Steven Butala:                   Thank you.

Jill DeWit:                            It’s funny to see… We obviously don’t talk about this before our show, and it’s what’s fun to learn what you saw as a marker versus what I saw as a marker. There are some things that were different and then plenty that overlap.

Steven Butala:                   Exactly.

Jill DeWit:                            It’s really, really cool. Wherever you are watching or wherever you are listening, please subscribe and rate us there.

Steve and Jill:                     We are Steve and Jill.

Steven Butala:                   Information…

Jill DeWit:                            And inspiration.

Steven Butala:                   To buy undervalued property.

If you enjoyed the podcast, please review it in iTunes . Reviews are incredibly important for rankings on iTunes. My staff and I read each and every one.

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

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

Acquisition Attributes Need to be Communicated to Sales (LA 972)

Acquisition Attributes Need to be Communicated to Sales (LA 972)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Buenos dias.

Steven Butala:                   That’s the most Spanish I’ve ever heard you say in my life!

Jill DeWit:                            Wait a minute. Wait, there’s a few other words that I know. I’m trying to think of them. Donde es banos? Uno mas. Cerveza. What else? Me llamo es Jill. What?

Steven Butala:                   Do you know how to say butter?

Jill DeWit:                            Mantequilla.

Steven Butala:                   How about butterfly?

Jill DeWit:                            I don’t know that one.

Steven Butala:                   Mariposa.

Jill DeWit:                            Okay.

Steven Butala:                   I don’t know. This became-

Jill DeWit:                            Like my butter one? I got that one.

Steven Butala:                   Every time we go to Mexico, I can get through it just because of high school Spanish. Just with nouns and verbs.

Jill DeWit:                            Right.

Steven Butala:                   And Jill thinks that there’s wizardry going on.

Jill DeWit:                            Yeah, I get the point across.

Steven Butala:                   I speak probably second grade Spanish, at best.

Jill DeWit:                            That’s great.

Steven Butala:                   Maybe. No, no. Probably. Whatever. Anyway.

Jill DeWit:                            Welcome to The Land Academy Show.

Steven Butala:                   Entertaining land investment talk.

Jill DeWit:                            Entertaining land investment talk.

Steven Butala:                   I’m Steven Jack Butala.

Jill DeWit:                            And I’m Jill DeWit, broadcasting from sunny southern California. Not anywhere else.

Steven Butala:                   Today, Jill and I talk about how acquisition attributes, they need to be communicated when you go to sell the property.

Jill DeWit:                            Yup.

Steven Butala:                   There’s all this cool stuff about the property. When you buy it, you’re like, “Oh my gosh. Look at this, this, this, this, this.” And then for some reason, a lot of people, they go to sell it and they’re like, “Here’s the property. It’s for sale.” Instead of all the stuff that excited you, that needs to excite the new person.

Jill DeWit:                            Yeah. That just described the whole show.

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

Jill DeWit:                            My good friend Kathleen [Denotridge 00:01:39] asks, “I’m looking at a county to mail. All of the data in the red, yellow, green… ” Hold, please.

Steven Butala:                   Sorry.

Jill DeWit:                            You’re cool.

Steven Butala:                   This is my fault.

Jill DeWit:                            It’s okay.

Steven Butala:                   Technical difficulty.

Jill DeWit:                            We got this. It’s talking about…

Steven Butala:                   So, we’re going to read it again.

Jill DeWit:                            All right.

Steven Butala:                   Sorry, everyone.

Jill DeWit:                            Take two. My good friend Kathleen Denotridge said, “I’m looking at a county to mail. All the numbers look good on the red, yellow, green equity planner, including a reasonable for land days on market.” The red, yellow, green equity planner is a tool that we provide in a spreadsheet in Land Academy 2.0, infill lots. And in 1.0 for the other Land Academy.

Steven Butala:                   And in House Academy.

Jill DeWit:                            And in House Academy. So, great ways to look at things, and really help you pick a county and laser focus in. Okay. “When looking deeper at the days on market for land listings on Zillow and Redfin, the days on market for rural vacant land is crazy high. As the equity planner uses the Realtor.com days on market from all residential, including houses, the days on market is not necessarily going to be reflective of the actual days on market for land.”

Steven Butala:                   Exactly. So, remember that for the end. The days on market reflected in all of this analysis… The whole point to all this is, let’s get some good data, and decide where to send mail.

Jill DeWit:                            Right.

Steven Butala:                   Go ahead, Jill.

Jill DeWit:                            “I understand the questionable validity of the days on market for land, as Steve has indicated. However, when there’s such a huge difference between the Realtor days on market, and the Zillow and Redfin days on market, specific to land listings, is it still reasonable to use the Realtor.com data to guide a county choice for rural vacant land? If choosing to mail said county, would you figure out your pricing and then apply a general discount to your pricing, to accommodate for this possible discrepancy of days on market? If so, what type of discount? Five, 10, 20%?” I love this.

Steven Butala:                   So do i.

Jill DeWit:                            I love solving this. I love the whole way that she’s looking at it. Going, “Okay… ”

Steven Butala:                   Me, too.

Jill DeWit:                            “I see this county’s good because of this data here. Now I see because I’m doing rural vacant land, it’s not going to necessarily sell so fast, based on this data here. But overall, this is a good area. I feel it. I know it. Now I want to come in at it maybe a little bit hotter, and my pricing… Maybe what she’s asking, five, 10, 20% lower than I would in other areas, because of the longer days on market. Because I don’t want to be stuck with something. I want to flip it fast.”

Steven Butala:                   Here’s my answer to what she’s really asked. What she’s asking is this: Because there’s a longer days on market that she’s discovered on Zillow and Trulia, that are a little bit more… There’s more rogue land listings than there are on, let’s say the MLS and Realtor.com. Because of that, and she’s uncovered this, does it justify a cheaper asking price in a mailer? My answer is unequivocally no. What it does is tell you to move on to another county. Realtor.com and Redfin.com provide tremendous library of what seems like real-time or up to date data for all of what we do. It’s very heavily skewed towards houses, single-family residences, as all things are in real estate.

Jill DeWit:                            Because there’s the most.

Steven Butala:                   There’s only tiny little people involved in commercial real estate over here, tiny little people involved in land over here, and the rest of the planet, they think real estate, houses. It’s the same thing for them.

Jill DeWit:                            But isn’t volume for sure more higher?

Steven Butala:                   Yeah. Everybody’s got to have a place to live.

Jill DeWit:                            True.

Steven Butala:                   And I’m not disagreeing with any of that.

Jill DeWit:                            Right.

Steven Butala:                   What I’m saying is here’s the takeaway from all of this, and it’s the reason that I really included this question in this type of venue, this show. It’s very technical. This is usually the type of stuff we discuss on our Thursday call. When you have this data, this massive amount of data, the days on market for single-family residences in any given market is going to trickle down and/or up, depending on how you see it, to land and to commercial. What it’s telling you is everybody wants to live there, or the pricing is good. It’s a very, very solid indicator.

Steven Butala:                   In my 30 years of experience, if houses are selling well… Days on market’s low, everybody’s happy… then vacancy rates are going to be low for apartment buildings and office buildings and strip malls. Land is going to be selling quickly, because developers want to develop new stuff, and on and on and on. Houses are a direct… Not indirect, but direct… indicator of what goes on with land and other types of commercial real estate in a local market. Kathleen, thank you, because it’s these kinds of questions… She has a PhD, by the way.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   In something else. It’s these types of questions… You know, I talked to Kathleen. I talked to maybe five members in my whole life, before they started.

Jill DeWit:                            Oh, okay.

Steven Butala:                   Because you weren’t around, for whatever reason.

Jill DeWit:                            Okay.

Steven Butala:                   I remember I was on a motorcycle trip, and I pulled over in a Taco Bell and had like a two-hour conversation with her.

Jill DeWit:                            Cool.

Steven Butala:                   And it worked out great, because three years later, she’s here.

Jill DeWit:                            Yup. Would you chalk this up to taking a step back, and testing for reason? Because you even look at that. At least, you know what? It’s obviously tripping her radar, so she did that. She took a step back, and one solution was, “I offer less.”

Steven Butala:                   Yeah.

Jill DeWit:                            Your solution is, “Don’t go there.”

Steven Butala:                   Well, I’ve always struggled… To answer your question, no. I don’t think that this is a test for reason. I think this is a full-blown, let’s look at this-

Jill DeWit:                            There’s a problem.

Steven Butala:                   This is a full-blown, let’s really analyze where we’re pulling this data, and does it work or doesn’t it work?

Jill DeWit:                            Okay.

Steven Butala:                   The answer is, it totally works. If you look at real days on market for land, it’s not beautiful. It’s very long. But it’s also not going to be meaningful, because the data set is too small. That’s really what’s going on. The data set for land parcels that are sold in any given market is going to be so small that it’s meaningless. You have to look at a data set that’s indicative of the real estate market, not specific to the land market, in my opinion. And I’ve tested this. Jill’s waiting for me to be done. You know, the best way to [crosstalk 00:08:01]-

Jill DeWit:                            This is one of your hot topics.

Steven Butala:                   It is.

Jill DeWit:                            Man.

Steven Butala:                   If you keep asking me questions, I’ll keep answering them.

Jill DeWit:                            Okay. It’s good.

Steven Butala:                   Today’s topic, acquisition attributes that need to be communicated during the sales process. This is the meat of the show. Go ahead, Jill.

Jill DeWit:                            I love this. It’s just like you described in the beginning. It’s what got you excited. It’s funny how we forget this. But when we, back in the day… You know, when you were doing it, I was doing it. Everybody’s done this. When you’re reviewing a property, there’s something you go, “Ahhh,” immediately. “Wow. Look at this.” We do it right now every week, when we do Would You Do This Deal with our members.

Steven Butala:                   Yeah. Exactly, Jill.

Jill DeWit:                            Every week on Thursday, part of our show, or part of our weekly member call, is Would You Do This Deal. We leave time for people to… They can give us the county and the state and the APN, and we’ll look it up. We say, “All right, what can you get it for?” We look at it with them, and then we look at comps in the area, what’s around. All the things that we need to do to see would we buy this property, you know? Then we ask other experienced members on the call, too, “What do you think about this?” It’s so much fun.

Jill DeWit:                            But often, right when you punch in that information, when you’re zeroing in on the property and you’re looking at it, you’re going, “Ahhh.” There’s a moment of wow. This whole show is about, you got to remember this moment of wow. Make some notes. Save those images. This is part of your engineering part here, because you’re spending some time doing your due diligence up front. It excited you. You see the value in it. You see the trees in it. You see what’s possible with this property. This is what you have to convey to your buyer, and you have to put this in your posting.

Steven Butala:                   The best way to do it is with a video.

Jill DeWit:                            Right. So many of us, we get all excited. We buy the property. Now, after… It’s seven days later by the time I got the notary to the seller, got the deed back, and now I’m posting it for sale. By then, I’ve moved on. I often forget what the excitement is, you know? You’ve got to save this stuff, make notes, and replay this, basically, in your posting, because you want that same person to find your property, and go, “Ahhh. Wow.”

Jill DeWit:                            You’re right. The videos are the best. Because when we’re zeroing in on the property, when we do… You don’t have to have a real drone. Especially if you’re starting out, you don’t have the money for it. You could do it with Google Earth Pro. They’re the equivalent of a drone, and flying in and seeing… [crosstalk 00:10:36]-

Steven Butala:                   [crosstalk 00:10:36] talked about it.

Jill DeWit:                            “Like here we are, coming in and zooming down the street. Wow, look how beautiful this is. Look at the lake. Oh my gosh, and look at this home next door. Look what’s possible. Oh, and look. They have horses. Look, here’s your power lines.” You know, these are all the things that we just talked about on… This is exactly what we do on Would You Do This Deal. You know, show the slope. Get down in there and show the elevation. Show, “Look, there’s a flat spot here for something, and a flat spot over here for something.” Everything that we looked at, you have to convey to your buyers.

Steven Butala:                   Yeah. If you’re excited about the property, they’re going to get excited.

Jill DeWit:                            Yup.

Steven Butala:                   You know, it’s a Sales 101 rule.

Jill DeWit:                            Right. And you have to try to remember. It’s hard sometimes, because you almost have to make yourself a little system. Remember. Like for us, in a spreadsheet. We always have notes. Well, here’s a thing. I’m doing this right now with deal funding. When I’m personally looking at properties to fund for Land Academy deal funding, I will make notes in there right away. Like, “Okay, did anybody check this? Did anybody check that? I love this. I love that.” I put it in there, and it jars my memory, too. When I go back, and I can easily go, “Gorgeous lakefront property. 500 yards of waterfront beach,” whatever it is. Then I can make sure everybody properly conveys that in the posting, as well.

Steven Butala:                   I like 500 yards of waterfront beach.

Jill DeWit:                            Wouldn’t’ that be [inaudible 00:12:05]? We could afford that. Just not right here. We can buy that, just not doing it right here.

Steven Butala:                   This reminds me of Jill and I went to a photo shoot. We had a photo shoot a while ago, and the woman that was doing Jill’s makeup said some version of this: “Oh, the property prices around here are getting so high. I just don’t know what our kids are going to do.”

Jill DeWit:                            Oh.

Steven Butala:                   I stopped, and I turned around and said this: “There’s a reason I don’t wear Versace every day. Because I can’t afford it.” She looked at me like I was the devil. Yeah, prices are almost exponentially increasing here, way more than anywhere else in the country that I know of, in southern California. And so, yeah. Kids are not going to be able to buy a house the way that we did.

Jill DeWit:                            Maybe not.

Steven Butala:                   That’s just how it is.

Jill DeWit:                            Right.

Steven Butala:                   That doesn’t mean it’s bad or good, or some government agency should get involved and artificially stick their arm in it and stop it, which I think is the definition of affordable housing.

Jill DeWit:                            Right.

Steven Butala:                   But that’s a topic for a different show.

Jill DeWit:                            Not one that we do together in this format. Maybe that’s a in the shower rant. Maybe that’s what that is. Speaking of which, you have an ocean view from your shower. We haven’t brought that up in a while.

Steven Butala:                   I know.

Jill DeWit:                            But anyway, we have an ocean view from our shower. So, did we cover that? Was that good?

Steven Butala:                   I think-

Jill DeWit:                            Gotta convey that. It’s really good.

Steven Butala:                   You’ve got to get excited about the property you’re buying, and convey it. Marketing is everything.

Jill DeWit:                            It’s true.

Steven Butala:                   Marketing is everything in this business. And online, you’re going to reach tons and tons of people. It’s never been easier to reach people who want to buy real estate from you. Never been cheaper and easier. Man, it’s just about free to convey what you’re excited about with these properties. I used to do a video back in the day on every single property. I would fly into it. I would say, “This is how you get to it,” and take everybody down this little road. “This is how close it is to the Grand Canyon,” or whatever it’s close to.

Jill DeWit:                            “Here’s Walmart. Here’s whatever.”

Steven Butala:                   “Let’s go to Walmart.” You fly over to the Walmart. It’s real easy in Google Earth Pro… Which is free, by the way… to plot points. You just click on it, it takes you there, and you talk about it.

Jill DeWit:                            Love it.

Steven Butala:                   If you go into YouTube, it’ll take you… The learning curve is maybe 10, 20 minutes on the whole thing.

Jill DeWit:                            Yeah.

Steven Butala:                   People loved it. It sold property. One of our members… Yesterday, we talked to Luke Smith. He’s got a whole show. That’s all he does. He puts a piece of property up on the screen, and he talks about it and flies in and out.

Jill DeWit:                            Exactly.

Steven Butala:                   Well, you’ve done it again. Spent another 15 or 20 minutes listening to The Land Academy Show. Join us next time, when Jill and I talk about childhood markers that lead to serial land investing.

Jill DeWit:                            This is going to be fun.

Steven Butala:                   Guess who wrote that description?

Jill DeWit:                            I know. And we answer your questions, posted on our online community at LandInvestors.com. It is free.

Steven Butala:                   You are not alone in your real estate ambition.

Jill DeWit:                            Yeah, that’s pretty funny. I wonder if we all had them. This will be fun. You and I will talk about them, and I know our people listening are going to go, “Yup, that was me. Yup, that was me.” It’s like, you know, if you’re a mechanic. Like if you’ve ever known a mechanic, and you talk to their mom, they used to take apart the blender. They took apart the toaster.

Steven Butala:                   Or an engineer. Yeah.

Jill DeWit:                            You know, there were some childhood markers that led to them. Like, “We knew they were going to do something with their hands.” They just, they couldn’t stand it.

Steven Butala:                   I’m going to save it for tomorrow, because I have a lot to say.

Jill DeWit:                            Okay, cool. Wherever you are listening or watching, please subscribe and rate us there. We are Steve and Jill.

Steven Butala:                   We are Steve and Jill. Information…

Jill DeWit:                            And inspiration…

Steven Butala:                   To buy undervalued property.

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