Finance Friday with Steven, Jill & Justin (LA 943)

Finance Friday with Steven, Jill & Justin (LA 943)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   With guest, Justin Sliva. 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 with guest, Justin Sliva, about the transactions that we’re funding and completing this week.

Jill DeWit:                            Exactly.

Steven Butala:                   Welcome, Justin.

Justin Sliva:                         Hey, how’s it going?

Steven Butala:                   This is like show 13 or 12, or 13 so, so we’ve got to [crosstalk 00:00:24]-

Justin Sliva:                         Yeah.

Steven Butala:                   Guests. It’s a little bit more permanent than that.

Justin Sliva:                         You did talk to your script writer.

Jill DeWit:                            Exactly.

Steven Butala:                   Yep, that’s … yeah, sure. Before we get into it, let’s take a question posted by one of our members on the LandInvestors.com online community. It’s free. Jermaine … oh, sorry Jill. Go ahead. I’m slowly taking over.

Jill DeWit:                            Are you okay?

Steven Butala:                   Yeah.

Jill DeWit:                            How much coffee did you have today?

Steven Butala:                   I only had like two cups. Maybe that’s the problem.

Jill DeWit:                            Oh, there we go. Okay, I’ve got three things: white [inaudible 00:00:55] … wait, MTV, coffee, we’ll get into all that.

Steven Butala:                   Yeah.

Justin Sliva:                         This is going to be therapy session today.

Jill DeWit:                            It is. Oh, [inaudible 00:01:03].

Steven Butala:                   Let’s talk about the 80s and 90s, I can tell.

Jill DeWit:                            Okay. Jermaine asks, “Has anyone sold their land business? If so, please describe the experience.” I am curious.

Steven Butala:                   We alluded to this … we danced around this yesterday, but I put this in here intentionally because I’d like to hear what Justin has to say about that. Because I know you’re all exit strategy driven like we are.

Justin Sliva:                         Yeah, I mean you put together the business and the LLC and you could sell the LLC as an entity, and everything that’s attached to it, all the assets, with it. So it’s pretty straightforward, if everything’s all together which one of the problems is if you have stuff in your personal name, stuff in your not LLC name, or other LLCs and you don’t have it tied together in one family. I mean, I have never done it, so I just assumed that’s how it would be done though.

Steven Butala:                   I mean, I’ve bought and sold a lot of companies-

Justin Sliva:                         Okay.

Steven Butala:                   And I really think what he’s asking here, and what I’m interesting in getting to the bottom of, is is this attractive to a potential buyer where you’ve got a bunch of 40 acre properties somewhere, you’ve got a website up, you’ve got inbound traffic, you sold some property, you’re buying some property, you’re all in the process. You obviously figured out whatever CRM you’re using, or whatever version of all that is all put together. Is it sellable or marketable? And is it too tied to our faces?

Jill DeWit:                            That’s what … I don’t think it’s-

Steven Butala:                   Is it too much tied to, “Oh yeah, only dealing with people who can run their businesses are Steve and Jill.”

Jill DeWit:                            Well that would be my fear. I would think that it would be a problem.

Justin Sliva:                         Yeah.

Jill DeWit:                            How can you say … because there’s parts of this business that’s not a normal franchise kind of set up, that you can’t just throw them the keys and say, “You got this,” you know, kind of thing. It’s the whole picking a county, and pricing the mailers, and that the talent behind that takes a long time to develop. So I would say the only way it could work is somebody has to A, stay on for a while and run that part of the business and I guess until they’re comfortable and they can train somebody else to do it as well.

Steven Butala:                   I don’t know, what do you think Justin?

Justin Sliva:                         I think the only way that you’d be able to sell it is … what you’re saying is exactly right, the knowledge base which we’re taught, but if you created a business ahead. Say I had a client this week that had $80,000.00 a month, or $90,000.00 a month in cash flow properties coming in, so and he says he has a million dollars in receivables. If somebody made an offer on that, they may say, “Hey, I’ll give you half a million dollars for your million dollars in receivables,” so you’re buying that part of the business, but it’s by the knowledge that somebody’s generated with our business as land investors, we can’t necessarily do that. So I think it’s kind of splitting hairs there, but yeah that’s kind of my thoughts on it.

Steven Butala:                   Jill and I talked about this a little bit yesterday, but in every business there’s a cash flow component like you just mentioned. Let’s call it “The income statement”, and then there’s the balance sheet part where you’re just building this entity and eventually can sell it. Think of a manufacturing facility where there’s nobody, except for the CEO who’s kind of just sitting in the back watching everybody do stuff and solving problems, nobody’s face is attached to it.

Jill DeWit:                            Right.

Steven Butala:                   So that’s what this business is missing, I think. Hopefully, the fact that it’s so profitable, like we’re not operating on 20% margins here. We’re operating on 198% margins. That’ll make up for the fact that that balance sheet component is slightly non-present potentially.

Justin Sliva:                         Yeah, no you’re exactly right. You’re exactly right.

Jill DeWit:                            I’m sorry, what? Just kidding.

Steven Butala:                   She doesn’t feel it. You know what?

Jill DeWit:                            And you lost me.

Steven Butala:                   You know what else we’re talking about? We’re getting all these comments. For some reason, recently in the last couple of weeks we have gotten comments all over the Internet about how Jill and I are just screwing off too much. [crosstalk 00:04:40] you guys, [crosstalk 00:04:43] yourself.

Jill DeWit:                            You should show those to me. I never [crosstalk 00:04:44]-

Steven Butala:                   “Why do you think you could sit there and have fun and laugh? You’re the only two people who really understand the jokes.” They’re all inside jokes.

Justin Sliva:                         Yeah.

Steven Butala:                   “Will you just teach us how to buy and sell land, please?”

Justin Sliva:                         Wow.

Steven Butala:                   Yeah.

Justin Sliva:                         Wow, I was thinking about that last night. A buddy of mine’s took a vacation during spring break, and he’s like, “Oh, I’m just living that Land Investor lifestyle, you know?” And I’m like … It was 9:30 last night, and I was going through deals. I’m thinking, “Land Investor lifestyle?” You know, a random time I’m doing it, but we’re still going through deals. You have to generate deals to be able to enjoy those quiet times.

Jill DeWit:                            Exactly.

Justin Sliva:                         Yeah.

Steven Butala:                   Today’s topic, Finance Friday, with me, Steven, Jill and Justin Sliva. This is the meat of the show. So both of you, and not necessarily in any order, [crosstalk 00:05:26]-

Jill DeWit:                            Well I would like to know, Justin, because since the beginning of the year and fast forward to now, so we’re two and a half almost three months in here, both of us doing deal funding in some way or another, I’ve sensed, and I felt it too, the workload grow and I’m really curious how you’re doing. Are you getting any sleep? Have you got a good system going now? How’s it working out for you?

Justin Sliva:                         Yeah, my second employee just came on.

Steven Butala:                   Wow.

Jill DeWit:                            Wow.

Justin Sliva:                         Yeah, and he’s actually based in LA so I’ll probably come out and see y’all here in the next month or two, come for a couple of days, so I’ll swing by and see y’all. But he’s actually based out there. He’s an intern with the Air Force, and so we brought him on full-time as he transitioned back into civilian life.

Jill DeWit:                            Do we know him?

Justin Sliva:                         Yeah, he is a Land Academy member.

Jill DeWit:                            I’m saying-

Justin Sliva:                         Yeah.

Jill DeWit:                            Was he at one of the events, and I think I know who he is?

Justin Sliva:                         He was at our event. I don’t know … I know you’re thinking of his partner.

Jill DeWit:                            Okay, got it.

Justin Sliva:                         You’re thinking of his partner. Yep, you’re thinking of his partner.

Jill DeWit:                            Oh, okay. Well I know the group you’re talking about.

Justin Sliva:                         Yeah, so-

Jill DeWit:                            Oh, good.

Justin Sliva:                         For me, I sit here and I’m in kind of awe because I have Beth who’s been with us since December, and she’s been knocking it out of the park. She’s MBA. He’s got a masters from MIT, and I’m sitting here like, “I’m just a land guy just trying to figure this out,” so it’s great to see the talent pool that’s coming in. The load is starting to go to them on some of the sexes of the business, so it’s nice seeing them take ownership and do some of that, and give them a couple of tasks and they’re handling it. It’s automated, and it just comes back on your desk and it’s done. You’re like, “Wow, that was nice.”

Justin Sliva:                         So yeah, the deal flow had kind of slowed down this week, but we had some really profitable properties that we put contracts on. Nice deals. We had six that we okayed this week, five of them east of the Mississippi, one west of the Mississippi. The biggest margin was a $13,000.00 contract on a $90,000.00 property. Then a second was a $50,000.00 contract on a $180,000.00 property.

Steven Butala:                   Great.

Jill DeWit:                            Nice.

Justin Sliva:                         Yeah, good numbers. Then your regular small ones, the 12 for 35, your 17 for 50, five for 16, so some smaller ones. Then an 11 for 30. So just our normal small gamut ones, but it’s been crazy. I’ve just been busy.

Jill DeWit:                            Right.

Steven Butala:                   How much equity do you think you and your managers combined will generate this year? A ballpark.

Justin Sliva:                         If we can keep the money turning, we’ve seen some slow down on sales just because of just escrow, and just not getting the money back out. Man, I think that we’ll probably see somewhere in the six to eight million dollars in equity we’ll generate in off-market deals and what we paid for it, for what it’s worth, pretty easily. I say that conservatively. Right now, we’re sitting on about three million dollars in value with a couple hundred thousand out there, $500,000.00 working right now.

Steven Butala:                   We crossed over the million dollar mark this week.

Justin Sliva:                         Wow.

Steven Butala:                   That’s kind of what my goal has been without a tremendous amount of effort, and always helping our members, trying to generate I don’t know $1.2 million for ourselves in equity manually.

Jill DeWit:                            Right.

Justin Sliva:                         Yep, and I tell people it’s pretty simple for us. I wanted to do a $10,000.00 a deal profit, and then two a week. That was what our goal was when we started [Plum 00:08:46], and we’re just smoking that.

Jill DeWit:                            Yeah, no funny, I know.

Justin Sliva:                         Yeah, I’m like, “Oh man, we need to slow down a little bit.”

Jill DeWit:                            Exactly.

Justin Sliva:                         Take a break. It’s not all sunshine though. One of the house deals we got … We get hail in Texas, right? So we had a hailstorm come through Texas, and I have a house that’s closing within a week. A hailstorm comes through. They send a roofer to check it out. It needs a new roof now.

Steven Butala:                   Oh wow.

Jill DeWit:                            Oh.

Justin Sliva:                         You go, normally not a big deal right? You go get insurance, call your insurance agent and they tell you that they can’t find the policy number because their agent that they let go didn’t hit submit on your binder when you okayed everything. So, for those listeners who think it’s all sunshine and rainbows in the investment world, no we have issues. We smile about it. We laugh about it, because we know we’re just going to get blasted anyways. We’re going to take care of it and keep moving.

Steven Butala:                   You know, the hailstorm hit on the land you guys own too, and it didn’t matter.

Justin Sliva:                         Yeah, that’s what Adam told me on our podcast this week.

Jill DeWit:                            Exactly.

Justin Sliva:                         Yeah, because you know what doesn’t get a roofer up? Land.

Jill DeWit:                            Exactly. Yeah.

Justin Sliva:                         Yeah, the land side of our business, we nailed seven counties this week so a lot of fun there. So we’ll see that just start booming in a couple of weeks.

Jill DeWit:                            That’s good.

Steven Butala:                   Did you have any fantastic deals come in this week?

Jill DeWit:                            I had a bunch of small ones, and I’m happy with those. You know, I have a lot of those. I’m with you, it’s buy for 15 sell for 50, in other words 70/80. I like those. Those are easy and those are fine. I had one come in that I just redlined because a guy was a little too eager. First of all, it was one of those, “We have to hurry,” deals because there’s a tax situation going on. Well, that already bothers me. The hurry price is $650,000.00. It’s a whole section. I’m like, “All right,” and he think it’s worth $1.2. Well, I went looking for the comps, and I found double that. I found a comp for 1280 acres at one point, like four or $1.6. And I’m like, “Your numbers don’t support what you think we could do.”

Jill DeWit:                            It does two things. When you tell me to hurry, I’m not interested. And then I can find comps in my two minute quick little review, so now I went back and said, “Unless you can come up with some magic, we’re probably not going to do this.”

Steven Butala:                   Yeah.

Justin Sliva:                         Yeah. We had a deal like that come up, and it was a, “Hurry up. We have some health issues we need to cash,” and the deal was bought to me to fund. It’s in an area that I like to buy, and I’m pretty familiar with the market. The price just looked high. It looked out of the box. Then when I looked at it, people bought it for $8,000.00 in 2010. They’re wanting $32,000.00,” which the manager offered. I was like, “No,” so this is a $10,000.00 property. It’s going to sell for $32,000.00, and you feel bad for the health issues, but this is the best I could do in this situation.

Jill DeWit:                            Exactly. Exactly right.

Steven Butala:                   You know, our whole motto was based on … We self-funded a certain amount of money, and literally put it into a new LLC in a bank account, and we’re trying to-

Jill DeWit:                            We’re keeping it separate. It’s cool.

Steven Butala:                   Generate more than a million dollars a year. [crosstalk 00:12:00]

Justin Sliva:                         That’s what we’re doing. I mean, it’s the exact same thing we do.

Steven Butala:                   [crosstalk 00:12:02] on it. We’re not going nuts about it, you know?

Jill DeWit:                            Exactly.

Justin Sliva:                         Yep.

Jill DeWit:                            I really am, that’s true. My time is valuable. I want to pick the solid deals, and the nice thing is … well here’s a beautiful thing, is if it doesn’t work for me, somebody will fund it, like you Justin-

Justin Sliva:                         Yeah.

Jill DeWit:                            Or Land Tank. I’m telling everybody, “Hey-” I’m helping them out right away telling them good or bad, and if it’s a good one and I don’t want it, get it on Land Tank, and heck I’ll put it there for you. Like, [crosstalk 00:12:32] do that. Because it will get funded, and that’s totally cool. I’ve got something else even more exciting. Should I tell Justin? Do you want to tell here what we’re doing with the house thing?

Steven Butala:                   Sure. Sure.

Jill DeWit:                            Talk about cool. So I am flying with a cameraman-

Justin Sliva:                         Uh-oh.

Jill DeWit:                            Right? On Tuesday, to Scottsdale for the day.

Justin Sliva:                         Nice.

Jill DeWit:                            Yep, so when this airs, it will have been last Tuesday right? Anyway, but-

Steven Butala:                   Yes, you already were there.

Jill DeWit:                            I was already there. I’m already back.

Justin Sliva:                         I’m already back. So let me tell you about my trip.

Jill DeWit:                            Yes, it was great. The weather was gorgeous. So we’re doing House Academy, right? It just ties into what you’re talking about with deals, and how great land is, and the thing about house deals. So I’m going there because a thing that we did, one of our many mailers that we bought and sold a property, we bought it in March 2018 for I think it was 302-

Steven Butala:                   Yeah.

Jill DeWit:                            We sold it … Actually, it was March 9th because April 9th escrow opened, the escrow closed. 30 days in there. So we sold it in like-

Steven Butala:                   Cash in, cash out.

Jill DeWit:                            Five days, but two and a half weeks to get escrow closed. Anyway, for 330. So, it was $28,000.00. We did nothing. Didn’t even sweep the floor. I have all the photos. I still have the posting showing what we did. Well, on March 6th this year, it just got done. The renovation just got done.

Steven Butala:                   Sold [crosstalk 00:13:58]-

Jill DeWit:                            Because I sold it to a flipper.

Steven Butala:                   A renovator.

Justin Sliva:                         Okay.

Jill DeWit:                            Yeah, and I’m going there to interview her, and stand there and walk through it. I want to show the before and the after and everything, and hear her story about what she went through to get to this point. We sold it to her for 330, she’s got it on there for like 535, something like that-

Steven Butala:                   She’ll have [crosstalk 00:14:20]

Jill DeWit:                            Just to make fortune.

Steven Butala:                   And make $100,000.00.

Jill DeWit:                            So yeah. But what’s-

Justin Sliva:                         But it’s taken a year.

Jill DeWit:                            That’s the funny part. I talked to her and I said, “Hey, Maggie I want to interview you,” and she goes, “You don’t really want me to talk about all the problems I had, do you?” And I’m like, “No, that’s not really what it’s about. It’s okay. But I want to really just talk about how we found this deal for you.” You know, I did nothing. “I made this much money. You’re going to make this much money,” and what a great relationship we have now, and we can keep doing this again, and again, and again.

Steven Butala:                   We’re wholesale people, so that was my first response too. You know, “Yikes,” but she’s got 10 of them going a time. She’s making a million bucks a year.

Justin Sliva:                         Oh, exactly. I know exactly what.

Steven Butala:                   And she’s using somebody’s else’s money-

Jill DeWit:                            She’s happy.

Steven Butala:                   And the whole thing … right. Right, so that just would make sense to them.

Jill DeWit:                            It does.

Steven Butala:                   That’s just not what I want to do.

Jill DeWit:                            Exactly.

Justin Sliva:                         Not what I want to do. I’m taking a break from that. [crosstalk 00:15:09].

Jill DeWit:                            Right?

Justin Sliva:                         I’m getting away from that as well.

Jill DeWit:                            Well like you said, it’s taken her a year so I will get … I’m going to find out when I’m there and I interview her, like what really went down. Because I do know that there was like a contractor issue, and people going dark, and it just further why-

Steven Butala:                   The house looks great though.

Jill DeWit:                            Oh, it looks gorgeous.

Steven Butala:                   It’s all staged.

Jill DeWit:                            Yeah. There’s one down the street for 595 with a pool that’s under contract right now.

Justin Sliva:                         Wow.

Steven Butala:                   These are houses that when I moved there in the early 90s we were buying for $85,000.00 and selling them for $110,000.00.

Jill DeWit:                            Right.

Justin Sliva:                         Wow. Wow.

Jill DeWit:                            It’s just crazy.

Justin Sliva:                         The market-

Jill DeWit:                            Yeah, you’re right. I think that’s right. I think that one, I looked it up today, that 595 one, I have it on my computer right now. I think it sold for like 105 or 108 or something back in ’99.

Steven Butala:                   Right.

Justin Sliva:                         [crosstalk 00:15:52]-

Steven Butala:                   Back then without any data, any real-

Justin Sliva:                         [crosstalk 00:15:56] tools.

Jill DeWit:                            Exactly. This is a natural progression. It’s great.

Steven Butala:                   And I had a real job and everything. It was pretty funny.

Jill DeWit:                            You know, land flipping, as you know Justin, turns to house flipping. Now, imagine what you’re doing right now you just marked it up $30,000.00, Justin, and somebody else is dealing with the roof.

Justin Sliva:                         Mm-hmm (affirmative).

Jill DeWit:                            Wouldn’t that be better?

Justin Sliva:                         Yep, that’s why we did 21 of those year.

Jill DeWit:                            There you go.

Justin Sliva:                         So I had a couple of houses bought to me this last week, and I said, “Yeah, if I can find a wholesale buyer, I’m not touching them.”

Jill DeWit:                            There you go.

Justin Sliva:                         [crosstalk 00:16:26] nope, I’ll wholesale it, but that’s it.

Steven Butala:                   Yeah.

Jill DeWit:                            Exactly. I’ll make less and get out.

Justin Sliva:                         Yeah.

Steven Butala:                   Absolutely, way less.

Jill DeWit:                            And let somebody else deal with that totally. We still have one that we’re dealing with right now. It’s our own fault for trying … it’s like, “Oh, it’s perfect retail.” It’s our own fault. I mean, that’s not who we are and I don’t want to be that person. So a whole different thing, and I wish them well.

Steven Butala:                   Yeah, that deal is … We’re going to make a lot of money on this.

Jill DeWit:                            I know [crosstalk 00:16:52].

Justin Sliva:                         Yeah.

Steven Butala:                   And a partner on that’s happy, so-

Jill DeWit:                            Yeah.

Steven Butala:                   We made the right decision.

Jill DeWit:                            We did. It just takes longer. It’s not my normal thing. You know, I’m like … 30 days in my comfort zone.

Steven Butala:                   Yeah.

Justin Sliva:                         Exactly right.

Jill DeWit:                            Cash in, cash out, or less. If it’s a great land deal, one day.

Steven Butala:                   The thing with retail, too, is you don’t have any control over it.

Justin Sliva:                         Yeah.

Steven Butala:                   With this wholesale you can talk to people that renovate houses and you have to have control over who … And you can sell them stuff.

Jill DeWit:                            Yeah.

Justin Sliva:                         Yep.

Steven Butala:                   Retail, it’s just like you put in the MLS and kind of wait.

Justin Sliva:                         The market dictates everything in retail.

Steven Butala:                   Yeah.

Jill DeWit:                            Yeah. Very true. So what’s coming up this week for you?

Justin Sliva:                         Just finishing up the editing for our e-book we’re about to drop.

Jill DeWit:                            Cool.

Justin Sliva:                         So it comes pretty quick. That’ll be fun. We’re getting the cover page done, and then it will get syndicated so it will drop through the [crosstalk 00:17:40].

Jill DeWit:                            Are you just trying to get more people to do deals for Plum?

Justin Sliva:                         No, actually it takes the COSO model, buying tax fee properties and selling them. We wrote it a while back, and it’s called … the title is still working, but Land Investing for Coffee Money. So, how you can start your land investment business for $5.00 a day.

Steven Butala:                   That’s great, man.

Justin Sliva:                         Yep, and then we talk about Parcel Fact, using the day pass in there for $5.00, and then we mention y’all in there.

Jill DeWit:                            Well there you go.

Justin Sliva:                         Once it’s final edit is done, I’ll send you a copy pre-release so y’all can say okay or no, if I need to pull your names out. But y’all are mentioned in there, and Land Academy by name.

Jill DeWit:                            Yeah.

Justin Sliva:                         But yeah, it’s-

Steven Butala:                   Syndicated?

Justin Sliva:                         We’ll drop it with a digital marketing group that’s going to list it on every medium that actually sells e-books. Then it’ll be available there. First of all fee, and then half of that we’re going to donate to a home here. It’s called TK Ranch in Texas, and they help special needs adults live outside of their home and work. My grandmother founded it back in the 80s and somebody else bought it and took and ran it when she passed away. So we like to send a little bit of money every now and again up there to them. It’s our little give back.

Jill DeWit:                            Yep.

Steven Butala:                   Awesome, man.

Jill DeWit:                            That’s cool. Super cool. Good, I can’t wait to read it.

Steven Butala:                   Yeah, me too.

Jill DeWit:                            Good.

Justin Sliva:                         I’ll send y’all a copy over today if y’all want, and you can take a look at it.

Jill DeWit:                            Yeah, I’d love that. [crosstalk 00:18:57].

Steven Butala:                   Well you’ve done it again, you’ve spent another 15 or 20 minutes or so listening to The Land Academy Show. Join us next time for another interesting episode.

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.

Steven Butala:                   I’m trying to keep you guys on track.

Jill DeWit:                            Oh, we’re going off? Well-

Justin Sliva:                         We segway a lot.

Jill DeWit:                            Totally. So tell me again, how are Jessica and the kids?

Justin Sliva:                         They’re doing good. Spring break, so the kids are at camp. They’re at big kid camp, so they’ve got five year olds to fifth graders with them, so they’re just loving life. They’re getting to hang out with big kids, and they’re just telling us all kinds of stories.

Jill DeWit:                            That’s really cool.

Steven Butala:                   That’s great.

Justin Sliva:                         Yeah, yeah.

Jill DeWit:                            I hope they’re not coming home with any fifth grade bad habits.

Justin Sliva:                         Yeah, they are. They are. You know how that goes.

Jill DeWit:                            Yeah, yeah, yeah. Oh, totally. It’s like, “Ugh, I have de-program them every day.” Remember that.

Justin Sliva:                         Yep.

Jill DeWit:                            “I’m not your friends.”

Justin Sliva:                         “I gotta spank you. I gotta spank [crosstalk 00:19:57]-”

Steven Butala:                   I’m really happy for you, Justin. I’m also really glad it’s your turn and not mine.

Justin Sliva:                         Yeah. Yeah, that’s why I like coming to LA every few months so I can out and kind of get away from that for a little bit.

Steven Butala:                   Yeah.

Jill DeWit:                            For work.

Justin Sliva:                         Yeah.

Jill DeWit:                            You’re looking for work [crosstalk 00:20:15]-

Justin Sliva:                         I’m going to for work. Is anybody coming? They don’t really know I’m coming, I just show up.

Jill DeWit:                            Two weeks for work.

Justin Sliva:                         Yeah.

Steven Butala:                   [crosstalk 00:20:22]

Justin Sliva:                         Yeah.

Jill DeWit:                            Double bag.

Justin Sliva:                         You’re just kind of there. “Hey guys.”

Jill DeWit:                            Shovel the hair, and a bottle in a paper bag.

Justin Sliva:                         Yeah. “I know you’re there. I can see you inside.”

Jill DeWit:                            “Let me in. Let me in.” That’s awesome.

Steven Butala:                   This is exactly the type of nonsense that all of you on the Internet are referring to.

Jill DeWit:                            Well great. On that note-

Justin Sliva:                         Yeah.

Jill DeWit:                            Wherever you’re listening or watching, I know you like it, so please rate us there.

Steven Butala:                   We are Steve and Jill. Information.

Jill DeWit:                            And inspiration.

Steven Butala:                   To buy undervalued property.

Steven Butala:                   All right kid, we’re out.

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.

Where Does This Business Model End (LA 942)

Where Does This Business Model End (LA 942)

Transcript:

Steven Butala:                   Steven and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talk about this topic, where does this business model end?

Jill DeWit:                            Oh, I have a road map.

Steven Butala:                   This topic came from-

Jill DeWit:                            I made a road map.

Steven Butala:                   … a question by Jermaine.

Jill DeWit:                            Really?

Steven Butala:                   In the last weekly call, he says, “Has anybody out there ever sell their company?”

Jill DeWit:                            Oh, exit strategy. Oh yeah.

Steven Butala:                   “Do you ever build it all up and sell it?”

Jill DeWit:                            Got it. I forgot about that.

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

Jill DeWit:                            Marcus asks, “What should I be doing while waiting for my first mailer to hit?” It’s good.

Steven Butala:                   So there’s two weeks, but once you send a mailer out, it takes two weeks for office owners-

Jill DeWit:                            Yep, and you’re sweating it.

Steven Butala:                   … to get it to where they’re opening the mail, potential sellers are actually opening the mail in the office, so he’s asking.

Jill DeWit:                            That’s kind of funny. “What do I do? What do I do?”

Steven Butala:                   First of all-

Jill DeWit:                            I’d start getting ready. Get your systems in order.

Steven Butala:                   No matter how much you study and no matter what you listen to, how many podcast episodes you listen to or how seriously you take this, around the second week, the middle of the second week, and I swear to God I do this too-

Jill DeWit:                            Yeah, he does.

Steven Butala:                   You sit there, you look in the mirror and you say, “This didn’t work.”

Jill DeWit:                            Yep, “I failed.”

Steven Butala:                   “I failed.”

Jill DeWit:                            “The phone’s not ringing.”

Steven Butala:                   “I must’ve missed something.”

Jill DeWit:                            He does that, too. It’s so funny. You’re right.

Steven Butala:                   Jill laughs every time.

Jill DeWit:                            Yeah. I’m like, “Sit tight.”

Steven Butala:                   To this day.

Jill DeWit:                            “How many times do I have to tell you? You did it right. I promise,” and then another week goes by and we’re overwhelmed.

Steven Butala:                   We’re buying dirt.

Jill DeWit:                            Yeah, and he’s like, “Oh sorry, yeah, I guess I overreacted there, didn’t I?” Yeah, you kind of did.

Steven Butala:                   Everybody wants something to just smack them in the face and for it to be great and easy. That’s how we all want our lives to go.

Jill DeWit:                            Exactly.

Steven Butala:                   This is easy and great and profitable.

Jill DeWit:                            “I don’t have to do any work.” That’s right. All right, so let’s go ahead. We’ll talk more about what we think I kind of did, but some of our members put in some replies, so I’m gonna read some of the responses.

Jill DeWit:                            Robert replied: “Congrats on your first mailer. That’s a big step and I totally understand the feeling you’re having right now. Sure, there’s lots of things that you can be doing while you wait. Of course, which things would actually be of value to you is a determination you’re going to have to make, but here are a few things that I can recommend. One, organization.”

Steven Butala:                   Yes.

Jill DeWit:                            “Consider your deal flow and making a checklist or standardized explanation of how you got to this point. The idea being you will be training someone eventually to help you as an assistant or maybe even a VA, virtual assistant.”

Steven Butala:                   This is brilliant.

Jill DeWit:                            “Also, when it is time for you to do this again, you’ll have a record of exactly what you did and it’ll be easier to tweak your process.”

Steven Butala:                   I couldn’t have answered that better myself.

Jill DeWit:                            This is great, too. “Number two, social media. Since you will likely be buying property [inaudible 00:02:58] you can start to join Facebook groups in your target area if you haven’t already. I love that. Garage and yard sale groups, classified and swap groups are great key terms along with city and or county names to search for when looking to join.”

Steven Butala:                   Great things.

Jill DeWit:                            I also look for too, like I mentioned on another call, who might be the user of this. What if it’s [inaudible 00:03:22] property wherever you’re doing your mail or it’s-

Steven Butala:                   Preppers.

Jill DeWit:                            Something like that, too.

Steven Butala:                   Tiny house people.

Jill DeWit:                            Exactly. Get yourself in those groups.

Steven Butala:                   Yeah.

Jill DeWit:                            “Three, research future markets. Since you just got done researching your first target market, you’re already in research mode. This is true. You should be prepping your next mailer while you’re waiting for your first mailer to hit.”

Steven Butala:                   This guy’s brilliant.

Jill DeWit:                            Thank you, Robert. This is great.

Steven Butala:                   Brilliant people in this group.

Jill DeWit:                            “So look for your second target market. Familiarize yourself with what makes a particular area attractive. Get onto Facebook and join groups and ask questions in potential areas you are looking into. Say you’re considering buying property in an area for a getaway spot or for weekends and ask what people would suggest you to buy since you are new to the area.” This is kind of cool. “You can learn from the locals a reason a particular area’s attractive or where to avoid. Just a few ideas. Anyway, congrats again.”

Jill DeWit:                            I think that was awesome.

Steven Butala:                   And don’t freak out.

Jill DeWit:                            Yeah, don’t freak out. I was just gonna say too, you know you’re gonna be buying some property. You know the area. You know how the county works. You know you’re gonna be doing special warranty deeds. Start prepping up and being ready to do deeds. Start prepping up and being ready to post a property when you buy it.

Jill DeWit:                            He’s talking about the marketing property, but we still gotta buy the property. Make sure you know where to go to do your due diligence. Get familiar in parcel fact, so when people call you up, you’re going to parcelfact.com, you’re popping in the state, county APN. Get practice looking it up and looking at the properties and getting to know the area a little bit better. What else do you want to add?

Steven Butala:                   Yeah. So when there’s downtime like that, specifically for info lots or for houses, you need to find buyers.

Jill DeWit:                            That’s true.

Steven Butala:                   Unlike real vacant land, which tend to either wholesale out to other people like you or retail it out, for info lots and for houses, you already know who’s gonna buy the house. You already know who’s gonna buy the info lot. It’s the developers in the area or in the case of houses, people that-

Jill DeWit:                            Other flippers.

Steven Butala:                   Renovators.

Jill DeWit:                            Yeah, the flippers.

Steven Butala:                   Not necessarily end users. So two weeks, you should have a fantastic list of when these properties start hitting-

Jill DeWit:                            What you’re gonna do with them.

Steven Butala:                   You should now who’s gonna buy the property.

Jill DeWit:                            Exactly.

Steven Butala:                   You should have maybe a list of five people at least that are already buying property in that area anyway.

Jill DeWit:                            You know what’s funny about this? It reminds me of the first time being pregnant. We all, men and women, okay, when your significant other is pregnant, what do we all do? We study all the books about pregnancy, about the pregnancy, what’s growing, how this works, how it’s gonna happen, and maybe we start to get into about the delivery but we don’t even really get into that so much. We’re really about what’s happening right now.

Jill DeWit:                            Then one thing we never really look for is what to do when the baby’s actually here. We all skip over that part like, “Oh yeah, shoot. I didn’t think about that part. I was so focused on this part.” So thank you for asking these questions, and thank you everyone for thinking about what to do after the baby is actually here.

Steven Butala:                   Every time I have downtime, I don’t know why. I don’t when I picked this habit up. This is about everything.

Jill DeWit:                            Okay.

Steven Butala:                   My gut reaction is document what I’m doing, whether it’s film it, write about it [crosstalk 00:06:38]. I don’t know why that is.

Jill DeWit:                            That’s interesting. That’s not what I do.

Steven Butala:                   What do you do, enjoy it?

Jill DeWit:                            Yeah. Heck yeah. I’m outta here. Does anybody need me? I know it’s 2:00, but I’m leaving. Just kidding.

Steven Butala:                   That’s exactly what’s gonna happen right after this recording for me. Today’s topic, where does this business model end? This is the meat of the show.

Steven Butala:                   When you own a business there’s two financial components to it. This is an accounting concept, and it’s actually very … I don’t know we haven’t talked about it somehow. There’s the income statement part of it, the money that’s coming in, so hopefully there’s more money coming in than goes out, and there’s the balance sheet part, this thing that you’re building and building and building and it’s got his value, right? In the simplest terms, think of a rental house. There’s the money that you make every month theoretically ’cause you charge rent. There’s expenses. You have a little bit left over. But the real juice in rental houses, the thing’s going up in value every year.

Jill DeWit:                            Right.

Steven Butala:                   At the end, you sell it, so you get kind of a two for one deal. So when you own let’s say a manufacturing company, you got the money coming in every month, but you’re building this thing and the sales are going up and at the end of the thing, you could have an exit strategy and a solid thing. So, you’re building this land business. Where does your business model end? You’re obviously making hoards of money every month, hoards and hoards of money. Can you sell it at the end?

Steven Butala:                   The easiest and best types of businesses to sell, I’ve bought and sold tons and tons of companies in my life and broke tons as an investment banker and accountant before we got into this. The best companies that you can sell have this profile. They have no real customer concentration, meaning it’s not like a government contractor where you just build one part for a helicopter and that’s it. That’s just one customer and that’s bad. You want lots of customers. Check if this business has that, tons of new customers.

Steven Butala:                   It has diversification of products, so you’re not just making one product like that government contractor. You’re buying and selling, in our house, houses and land and you’re doing it all over the United States so you’re not subject to one economic depressive area, like let’s say Detroit, Michigan. If you don’t want to do it there, you can pack up the stuff in 35 seconds and go do it in Oregon or anywhere else you want.

Steven Butala:                   It’s scalable, meaning you can control how much you sell or don’t sell. You’re not subject to, let’s say a convenience store or a restaurant where you have 22 tables and breakfast, lunch, and dinner. That’s it, unless you open another location. Check.

Steven Butala:                   And then finally, the new person who buys the company is going to effectively be able to run the thing without you. Fail. That’s the problem with this business model. 95% of it’s all positive, but the new person, the person who buys this company from you and you turn over all your social media accounts and give them the usernames and passwords to everything and you teach them how to do a mailer, it’s still you.

Jill DeWit:                            Right.

Steven Butala:                   It’s still your face. So Jill and I talk about selling Land Academy. We never talked about it. I think about it.

Jill DeWit:                            We’ve never talked about it.

Steven Butala:                   We’ve never talked about it and never will.

Jill DeWit:                            Don’t worry. Yeah, don’t worry.

Steven Butala:                   Land Academy will not ever get sold.

Jill DeWit:                            No.

Steven Butala:                   In that case, if we had to sell Land Academy or if you had to sell your land business, you’d probably sign an agreement that says, “I’ll continue to do the mailers for you but you do everything else.”

Jill DeWit:                            Right.

Steven Butala:                   So an institutional buyer who’s got tons of money might come to you and say, “We buy apartment buildings in Illinois and I don’t think we’re doing it right anymore. We want to buy your company, but we want to have you send the mail for us indefinitely, and let’s sign a contract so you’ll be a full-time consultant for us,” and I don’t know.

Steven Butala:                   So you can sell it. You can also franchise it. There’s all kinds of stuff you could do. But it is not a very good business. The balance sheet part of your land business is not typical for a business owner.

Jill DeWit:                            Right.

Steven Butala:                   The income statement, in my opinion, and this is why we do this for a living, more than makes up for end of the business model.

Jill DeWit:                            Right. Is it my turn?

Steven Butala:                   Yeah.

Jill DeWit:                            I took this topic and I wrote down kind of a roadmap of what I see the majority of us doing, us included. So where does this business end? I just took it like, where would I end? What’s gonna happen for me in the next couple years? How is this gonna change? I’m not gonna keep doing buy for 500, sell for 2000. I will die. Somebody will die. I can’t do that, right?

Steven Butala:                   Probably me.

Jill DeWit:                            Exactly. Something’s gonna happen. You can’t do that. You can’t sustain that. So, what’s the roadmap? So I say and what we do, as you progress and move along, you might stay with your same property type. We have so many members that just love land. This whole house thing? Who cares. Don’t want to do it. Don’t want to do it. Don’t want to do it. They love land.

Jill DeWit:                            What are they doing and what have we done? Moved onto bigger deals, either larger properties or more money involved, higher dollar amounts. Usually it’s the same. Not always, but that’s what you do. So you move onto higher properties. I’m doing maybe the same number of deals, but I’m making more money on those deals.

Jill DeWit:                            The other thing that we do … We’re diversified. We do all kinds of things, but some of our members have also moved on to other property types. Some are going to info lots and said, “I’m done with that. I want to do this, and then when I’m done with that, I’m gonna do the house thing,” whatever it is. They move on to other property types. That’s how you can grow your business, make more money, and be profitable.

Jill DeWit:                            And then the very end, though, you said this and I love it, you can replace yourself with a lot of the tasks but there’s some things you can’t do. You can’t replace yourself, like you just said. The mailer, your face. You’re the front whatever [inaudible 00:13:13]. So there’s some key tasks that you still want ’cause you want this to keep going.

Jill DeWit:                            I’m not worried about it. I’ve never set out to have this be the type of business that we’re never gonna do it. What we have done too is we’re setting this up to make this a legacy, a family legacy. I don’t know if that’s the right term, but a business that we can pass on to the kids-

Steven Butala:                   Yeah, and so should you.

Jill DeWit:                            … and keep it going. So at some point-

Steven Butala:                   Pass on the tribal knowledge if your kids are into it.

Jill DeWit:                            Exactly. So, maybe then we will be backing out of it, but it will still be our family, our business, and it will go on hopefully forever.

Steven Butala:                   For the sake of argument, if you’re the kind of person who’s interested in an exit strategy when you start a company and you’re kind of shaking your head trying to figure this out, where the exit is, here’s what you might want to do. So when you buy a piece of property and you sell it, you have a bunch of dough, you’re converting money into land and back into money.

Jill DeWit:                            Right.

Steven Butala:                   Let’s say for sake of argument, every other property, you just keep it. Buy a piece of property, sell it, now you have a bunch of dough. Buy two pieces of property, resell it, one of them, keep one of them. At the end of 10 years, you’re gonna have millions and millions and millions of dollars worth of real estate accumulated-

Jill DeWit:                            That’s good.

Steven Butala:                   … for nothing, because you’re using the profit margin from the last sale.

Jill DeWit:                            Right.

Steven Butala:                   So there’s something to sell there. You can very easily set an exit strategy-

Jill DeWit:                            That’s perfect.

Steven Butala:                   There’s lots of ways to save for retirement.

Jill DeWit:                            Right.

Steven Butala:                   That’s a real good one.

Jill DeWit:                            That’s perfect.

Steven Butala:                   You have complete control over this.

Jill DeWit:                            Exactly. I love it.

Steven Butala:                   Well, you’ve done it again. You’ve spent another 15 minutes or something listening to the Land Academy Show. Join us next time, where Jill and I interview Justin Sliva on Finance Friday.

Jill DeWit:                            Yeah, and we answer your questions posted in our online community, landinvestors.com. It’s free.

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

Jill DeWit:                            That was good.

Steven Butala:                   I love talking property.

Jill DeWit:                            That was good.

Steven Butala:                   Oh, you know what I didn’t mention? There’s no law against selling two companies either.

Jill DeWit:                            That’s true.

Steven Butala:                   If this is a great income statement company and it is really is-

Jill DeWit:                            True.

Steven Butala:                   … there’s other companies that are out there that are great balance sheet companies.

Jill DeWit:                            That’s true.

Steven Butala:                   Like a Christmas tree farm. You don’t really make any money doing that, but long haul, it’s really good.

Jill DeWit:                            Exactly. That’s good.

Steven Butala:                   I say that jokingly. Christmas tree farm.

Jill DeWit:                            I don’t think that’s crazy.

Steven Butala:                   Another good non-cashflow company would be real estate in very expensive areas. They don’t make any money, but they accumulate in value. We live in a neighborhood that pretty dramatically accumulates in value but the rent to market, you can’t charge rent on a flat $5 million house. You’re gonna charge $20000 to make it work. They don’t just rent out well. But, the long haul on those houses, if you’re making 8% on a balance sheet, you’re looking at 8% of an increase in value on a balance sheet over a year, on a $4 asset, that’s awesome.

Jill DeWit:                            Exactly. Wherever you’re watching or wherever you’re listening, please rate us there. 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.

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.

Difference Between a Successful or Failed Mailer (LA 941)

  • Difference Between a Successful or Failed Mailer (LA 941)

    Transcript:

    Steve and Jill here.

    Hello.

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

    And I’m Jill DeWit broadcasting from sunny southern California.

    Today, Jill and I talk about the difference between a successful or a failed mailer.

    Sorry. I feel bad, but we can help you.

    In prefaces like this.

    Yeah.

    I’ve done millions, and millions, and millions of letters.

    Yeah. Oh, my gosh.

    Millions since the ’90s.

    We should’ve add … That’d be a good thing to know. We all talk about how many properties that we’ve turned, but …

    Talk about proving.

    Right. The number of offers …

    I should calculate it.

    You should go back and calculate that, because it’s staggering, and it’s not stopping. I mean, now we’re doing it with houses and other things, too, so it’s comical.

    I’ve had exactly one failed mailer in my life.

    Will you save it for the show?

    Yeah.

    Thank you.

    My point is to preface it with this. The name of this episode is The Difference Between A Failed Mailer and A Successful Mailer. I would say 90+ sure I know the answer that everyone is using it, because I know when I talk to them.

    Yeah.

    So yeah.

    It’s an incredibly helpful tool. I’ve got nothing but positive people reaching out to me saying, “Thank you, thank you, thank you. It’s so much easier to do this.” Here’s the thing with Equity Planner, and specifically this red, green, and yellow methodology/exercise. If you copy and paste data for one county or one zip code, and you slap it in there, and you stare at it, and it stares back at you, it’s meaningless. It’s only useful if you look at it compared to adjacent or surrounding areas.

    So if I’m going to, let’s say … I’m filming House Academy right now, and we’re using Mesa, Arizona. Jill and I sent 10,000 letters for houses in Mesa, Arizona, and bought several properties, like five or eight properties. I can’t remember the total. I pitted one zip code … There’s like 10 or 12 zip codes in Mesa, I think … pitted one zip code against the next, against the next, against with next, and we ended up choosing to send to all the zip codes, because it worked out great, except for one. Because there’s one really wealthy area in Mesa that’s just not conducive. The days on market are too long. It’s not a good house flip area. I pitted it against all the surrounding communities and decided just to use Mesa based on that. It’s only useful in its relativity.

    That being said … It sounds like you.

    No, that’s it.

    I was waiting for you to say that. This is a good question, Robert.

    You pit them against each other and decide which one you’re going to … It’s a tool to decide where to send mail.

    Exactly. So that’s it. I want to just recap. What Steven’s saying, Robert, is, “Yeah, the numbers don’t change, because it’s up to you,” and that’s what we talked about at our live events. We talked about this in detail with, especially, the intermediate group, because that’s who this was really kind of targeted for at that point. It was really … It’s up to you to decide where’s your threshold for green. My green might be your yellow. My yellow might be your red, because you’re new and you’re like, “I’m not going there. It’s got to hit me in the face before I green-line it,” so that’s it.

    I’ll tell you.

    That’s what he’s saying right now. You can’t just pull one in and expect it to be green. You need to be looking at 20, and then you’re going to see the pattern. You’re going go, “All right. These have sucky days on market. These all have good days on market. All right. I bump those up.”

    That’s it.

    “And now I’m going to look at this.”

    You nailed it, Jill.

    “Okay. And these, I don’t like the way … There’s to many properties …” One variance we look at is how many properties are in that area altogether, and are there more properties posted for sale every month, or is the inventory going down? Inventory going up, that’s an easy one, too. You go, “Oh, inventory’s going down. All right. Now I got number two that makes this even a green line. What’s the other things?” That’s really what it is. You’re probably not doing it wrong, Robert. You’re just not pulling enough in, so it jumps out at you, and that’s the only thing that’s missing.

    More data’s always better, right?

    Yeah. Totally.

    I didn’t say, “Hey, I’m going to go mail Mesa, Arizona.” I didn’t do that. I looked at Phoenix. I looked at Scottsdale. I looked at Chandler. I looked at Mesa. I look at Apache Junction, and on, and on, and on. And decided that Mesa was the best based on the data.

    It’s very true.

    You’re right. I’ll tell you, the way Jill and I do this now, we red-line the hell out of everything.

    Yeah.

    I mean, if it’s not perfect, we just move on.

    Exactly.

    It wasn’t like that always.

    No.

    It used to be, when we started out working together, you were very much more forgiving. And much more …

    That’s funny.

    But, now, it’s like, “You know what …” You know why? It’s because she has so much experience now. She’s like, “You know what? This is just going to lead to a bunch of crap.”

    Yeah. That’s very true.

    “I want the low-hanging fruit and the most successful, profitable, easy deals, and I just want to send out more mail to get them.”

    You know what else? I have no, no, shortage of deal flow. That’s the other beautiful thing.

    Yeah.

    I’m reviewing 10 a day very commonly. [inaudible 00:08:11] so it’s so easy for me to go, “No. No. No. No. No. Yeah, I like you.” Done.

    Let’s say she rejects 90

  • rejection, plus. If she chooses one a month, only make $50,000.

    I’m good with that.

    Now she’s making $600,000 a year. You know how hard it is for Jill to do a deal? It takes about a half-hour total if you add it all up.

    Yeah. Exactly.

    If you add every single thing up, so she’s working a half-hour a month making 600 grand a year. That’s the opposite of a rant. That’s like a weird dad celebratory thing.

    It is true. No, that’s great. Thank you. That’s perfect.

    It’s not just Jill.

    No. It’s not just me.

    Many, many members are spending a half-hour a month.

    I got people right alongside me doing the same thing and some doing it better.

    Yeah. Today’s topic The Difference Between A Successful Or A Failed Mailer. This is the meat of the show. Jill, I noticed that you wrote down some notes.

    I did.

    I notice that you’re actually going to participate in this episode.

    I usually do. You stinker.

    This is kind of a technical one, so I just assumed that I was going to talk, so go ahead.

    No. I have a lot to say about it. As the new CEO, I would like to share a few things. I was thinking about this. What’s the difference between a successful mailer and a failed mailer? Well, first of all, a successful mailer, we kind of get it. It was great. It was priced well. Say you sent out 15,000 units for rural vacant land. It came back. You had … I don’t know … 20 or 30 signed offers to review. You picked your five favorites, and you move on. That’s great. That’s kind of the definition of a successful mailer.

    Yeah. A successful mailer … Let me jump in real quick-

    Sure.

    … is mailed by yield. For every 300 or so offers you send out on rural vacant land, correctly, you’re going to buy property.

    Right.

    For infill lots, which are properties that are buildable, that are, let’s say, in between a house and an urban area, about every 1,500 or so, maybe 2,000. And for houses, SFRs, detached residential, single family residential, it’s about 3,000.

    Exactly.

    It’s closer to 1,500, but I like to say 3,000, so people don’t get upset.

    Exactly.

    A failed one doesn’t yield those numbers.

    Exactly. And the question is, “Well, then, why? How could that possibly happen?” Well, number one, bad data. You might have bad data that you bought from somebody or you have incomplete data, too, by the way.

    Or it’s old.

    It’s old, it’s incomplete. You’re sending them to who knows where, or like I said, you don’t have the criteria that you need to successfully get your offer.

    Price it.

    Right. So that’s the second part-

    That’s what she means by incomplete data.

    Right.

    When you have the assessor data, it’s like 300 columns long. So you have all this background on individual properties, so you can price them correctly. Or you know who owns it, so you can scrub out the stuff you don’t want to buy, like the federal government owns it.

    Exactly. Make sure you know the right size. Make sure you know how it’s zoned. You got to have that.

    If you don’t have complete data, you’re wasting money and time.

    Don’t waste your time. Exactly.

    I’m not trying to sell you anything, because I’ve done this. I’ve done it the wrong way for … I did it the wrong way for a decade. Go ahead.

    Before we knew how to get the great data that we have today.

    Right.

    Yeah. The second thing that will happen that leads to a failed mailer is poorly priced. Usually, I find with poorly prices, A, it starts with you have bad data, so you’re failing going into it. You didn’t have the right information to really price it properly. The other thing is you didn’t spend enough time on it. You didn’t really study the area a little bit and the market a little bit. Because you really want to go in there and price them effectively, that you’re going to get people’s attention. You don’t want to offer too much, obviously. You don’t want to say, “Hey, name your price.” We don’t want to do that, because everybody’s going to call you back. I think that’s a failed mailer.

    And you don’t want to come in too low, or you’re going to piss everybody off and have to struggle when they call you back yelling at you to see even if they are interested in selling. And that does happen. So you can recover from that situation, too, by the way. Both of these you can recover.

    But the perfect scenario is you spent the time. You know the area. You priced them well. You can see that it’s basically $X per acre and create your mailer based on that.

    My dad had a saying when I was a kid. He said, “If it’s worth doing, it’s worth doing right.”

    Spend the time on it.

    Yeah.

    This is the stuff, too, that we talk about. No matter how big your business goes, and hey, maybe it’s fast forward 25 years, and you’re us.

    Yeah. 25 years.

    Fast forward 25 years … Not to scare you, Steven … and you’re us right now. What are some of the things that you still-

    Proven.

    You are proven. You had all those deals under your belt. You have the experience. What are some of the things that you still don’t give up? Pricing your own mailers, and knowing that area, and doing that.

    I still do that.

    Because no one’s going to do it better than you. There’s stuff that we don’t sub out, because we want to make sure it’s done right. And you know why, too? We’ve done it for so long … He has done it for so long, so successfully, it’s doesn’t take him long. He knows how to do it.

    Yeah. And it’s fun.

    He can sit down in a couple hours … I can say, “Hey, we need some mailers out. I want to buy this kind of property in this area.” He’s like, “All right. Give me two hours.” “Okay. Thank you.”

    Jill and I are in the very first stages of purchasing a cabin for ourselves in …

    Southern California.

    Yeah. A place close to Los Angeles. I’m just about to do a mailer, and actually, I’m going to … Because the mailer itself is entirely different. How it reads is entirely different for a personal primary residence like that. In fact, I’m going to actually put it on Offers2Owners as an example.

    That’s great.

    I’ll say, “Primary residence mailer.”

    That’s perfect. Share that. I like that.

    In fact, I was kicking this idea around-

    We should share that one, too.

    … buy houses from a data standpoint, and how you do a mailer is entirely different than land.

    Yeah. It’s true.

    I was thinking about doing a HouseAcademy 2.0: Primary Residence.

    I like that.

    Because HouseAcademy 1.0 is single family residential for flipping purposes.

    For flipping. Do one for, “This is one you want to keep,” whether it’s a cabin, your next home, your vacation thing.” I love it. I think that’s great. I love we should … Because we share them already, in case you didn’t know. If you go to our mail site, Offers2Owners.com, and you look under … I think it’s under Forms.

    Yeah. Downloads or Forms.

    If you want to see our standard house and-or land template for a mailer, yeah, you can download it into Word and use it, and change it, whatever. Have at it. It’s there for you, so check it out. And we’ll put this up there, too, when it’s done. Thank you.

    If you have bad data or incomplete data … I mean, if you go into BiggerPockets and type in the word mailer and listen to what people are saying, the vast majority of what you’ll read do something like this, “Yep, just failed at another mailer again.”

    And you know why?

    Here’s why-

    Oh, I forgot. Yep.

    Here’s why they fail. They sent out a postcard. First of all, postcards do not work, period.

    Yep.

    Or they sent it to current resident. They didn’t send it to John and Sally Smith.

    Right. They also said, “I want to buy your house.”

    They didn’t put a purchase price in there, all right?

    Yep.

    Every time I actually talk to a seller … and I don’t actually do it too much anymore. Our staff does, or Jill does. I used to ask them, “Hey, do you get a lot of letters like this?” And every single one say, “I get a bunch of letters, but none of them with the purchase price in it.”

    None like this.

    So we utilize a mail merge, right?

    Right.

    That’s what we teach. So it looks like the person who’s opening that letter … It looks like you just sent it to them.

    Right.

    You didn’t send it to 25,000 other people in the area.

    Like you single them out.

    It’s because of this mail merge concept. There’s a right way and a wrong way to do this, and we obviously teach the … A couple days ago on the podcast, somebody said, “Do I really need to buy the stupid LandAcademy thing?” It costs 50 cents a letter to send out. You might as well do it right, or you’re just going to be wasting a lot of postage, and you’re going to upset a lot of people if the price is too low. Or you’re going to get way too many responses if your price is too high. So just learn how to do it right.

    Exactly.

    Or go buy a convenience store. One of the two, but don’t do it halfway.

    Right. Or something else. Maybe a mall Sunglass Hut. To would be good.

    Yeah. That be easier than a convenience store.

    Much easier.

    All right, Jill, so what do you do?

    How do I recover? Okay.

    Yeah. How do you recover?

    Here we go. You did a failed mailer, like, “Oh, great. I didn’t listen to Steven and Jill, and I overpriced it.” This is things that comes up on our member calls. When these people call back mad, or they’re thrilled-

    The sellers.

    Well, here’s the thing. We laugh about this.

    Not our members, the sellers call back.

    No, no, our sellers. But what’s so funny is sometimes now and then on our member calls, our members will say, “Well, I obviously failed, because every single person called me. They all love my price, and I clearly over-offered too much money. Oh, my gosh. What do I do?” That one, what you do is you go look it up. Say, “Thank you very much.” Go look it up, check it out, do your due diligence. See what you want to offer, and then come back. And there is a nice way that you can say, “I clearly goofed. I’m really sorry, but actually, my acquisition fund shows that I can pay X.” It’s harder to recover from that one, by the way, when you over-offer. But in a nice way, say, “Hey, I actually pulled some comps in the area, and this is what I really do think it’s worth.” And, “Hey, I understand if that doesn’t work for you, but I’m willing to pay X.”

    They can turn it around.

    You can. Let it go the ball in their court, and leave it at that. And be silent, by the way. We talked about this on one of our member calls, too, the value of silence. Letting them think about it. Don’t be the first one to talk. Let them do it. If they need to sleep on it, they might say, “I don’t know. No, that doesn’t work for me.” Leave the door open.

    We have members who intentionally do this just to get them on the phone.

    Yeah. Leave the door open.

    We don’t do that, though.

    Let them know that, “Hey, if you change your mind 30 days from now, then …” Or whatever you feel like. “… call me back. I’ll still buy it. That’s my price,” and then let them go. By the time they walk around saying, “I have an offer for X. I want to sell it for Y,” and they realize no one’s willing to pay Y, they’re going to call you back and go, “All right. You know what? I get it. I’ll take your X,” kind of thing. That happens a lot.

    The other thing that happens is the failed mailer you went in too low, and you pissed off everybody. Those are the calls that I think happen more often, and those are the fun ones. I think they’re funny and hilarious, because I like … Maybe because I’m a girl, too. I get them on the phone, and I’m comfortable, and like, “I clearly missed a zero,” or, “I totally botched that up. I am so sorry.” There’s a way you can that and calm them down. Then after you’re done, all you’re really trying to do is figure out are they calling you because they’re mad, or they’re calling you because they’re mad at the offer, but they do want to sell?

    Once you determine that real quick, go, “All right. Now that we figured that out, do you want to sell?” “Yeah, actually I do.” “Great. Okay. Well, how about this? Let me go back. I will re-look at this, see what it’s worth, and get back to you,” kind of thing, if you need … I’m assuming you’re new, and you need to do this. Then I go do my … Then I come back, too, with, “Here’s why I think it’s worth this,” and spell it all out. Then the same thing, the ball’s in their court.

    Did you want to add anything?

    Pricing’s imperative.

    Yeah.

    If you are a member, you already know the value of a mail merge versus the stupid postcards and all … There’s all the wrong ways to do a mailer, which is the vast majority of people do one mailer … that are non-members. They do one mailer, and they never do it again.

    Right.

    Jill and I have gone to real estate meet-ups, and like institutional apartment people will say something like this, “Yeah, we tried a mailer once. It just didn’t work.”

    We have the other thing, too, that they did a mailer. They didn’t really understand what they were doing. They still bought something.

    Yeah. That’s my point here.

    Like, “Yeah, it was great.” I’m like, “What just happened. Why are you not keep going on that?”

    That’s my point. Let’s say … You know the yield figures that I threw out in the beginning?

    Yeah.

    Let’s say your yield is twice as bad, okay?

    Right.

    Instead of 300 mailers, you bought one for every 600 you sent out.

    Right.

    Is that really failing?

    Exactly.

    It costs 50 cents to send a mailer out.

    Exactly.

    If you send 3,000 mailer out, it’s going to cost $1,500. And you buy a piece of property, mark it up 10 grand, and resell it that week. Did you win or lose? Let’s say it’s 9,000 mailers. It costs 4,500 bucks, and you sold a property for $10,000 more. Did you win or lose?

    Exactly.

    Failed mailer is very, very, very rare. A failed mailer … I mentioned earlier I did an unsuccessful mailer. It was in Michigan, and I completely priced it incorrectly and people … This was a lot of years ago. I priced it like it was Arizona, which is … People in Michigan are falsely proud of … I’m from Michigan. I can say all this stuff.

    Right.

    They have this false sense of … Most of the people I’ve ever met from Michigan have the sense of their stuff’s not … They think it’s worth way more than it is.

    I understand.

    It was failed, because I stopped answering the phone, because people were angry and all kinds of stuff. If Jill was answering it, it would have been successful.

    Thank you.

    We’d be batting a thousand.

    Thank you.

    It happens once in a while. And I decided to do this show based on a question that somebody asked a week ago on a call, so I hope I’ve clearly-

    You did great.

    My point is this. It’s very, very rare to have a failed mailer.

    But you know what? And so what if you do? We talk to members all the time like, “Yep. I did a bad one. I learned it. And then I solved it, and I fixed it,” and that’s it. Don’t let it slow you down.

    Well, you’ve done it again. You’ve spent another … I don’t know … 15, or 20, maybe 30 minutes … 25 minutes. Wow, 25 minutes.

    Not that long.

    … listening to The Land Academy Show.

    That was long.

    Join you next time for an episode called Where Does This Business Model End?

    Oh, that’ll be fun tomorrow. And we answer your questions posted on our online community, LandInvestors.com. It is free.

    You are not alone in your real estate ambition.

    No, you’re right. That was long.

    Jill kicked me under the table.

    I did. I had to put my hand on his leg going, “All right. It’s good.”

    Hey, wherever you are watching, or wherever you are listening, please rate us there. We are Steve and Jill.

    We are Steve and Jill. Information …

    … and inspiration …

    … 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

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    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.

Already Successful Members Succeed (LA 940)

Already Successful Members Succeed (LA 940)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talk about how already successful members succeed at this.

Jill DeWit:                            Love it.

Steven Butala:                   What the heck does that mean?

Jill DeWit:                            That’s it. I wrote it down wrong. I put, “Already Successful Members Being Successful Here,” which is still true.

Steven Butala:                   It’s the same thing.

Jill DeWit:                            Same thing.

Steven Butala:                   So without exception, this is without exception, I was thinking about, because somebody asked me recently like, “What is it? Give me the profile of a member who really does well at this.” And I said, “Well without exception it’s somebody who’s doing incredibly well at whatever they’re working on right now. They just don’t like it anymore.”

Jill DeWit:                            Right.

Steven Butala:                   Here’s a great example, I mean if you’re an aerospace engineer and you’re doing great at it, and you make a ton of money and you’re just tired of it and burnt out, which happens to everybody, you’re going to do great at this because you already know how to do great at whatever you’re doing.

Jill DeWit:                            Remember we used to have a checklist? We used to say … It started with what three things do people need to be successful members? We were almost stuck to a point where we were going to make it a requirement. I’ll have to remember this, I was going to make it … it was a long time ago, I wanted to make sure everybody was successful so we were going to pre-screen and interview people.

Steven Butala:                   Oh yeah, I do remember that.

Jill DeWit:                            And there were three things that we knew that they had happened.

Steven Butala:                   In fact, we did that for a while.

Jill DeWit:                            I can think of two of them, and I can’t think of number three. So let me give you the first two that I could think of.

Steven Butala:                   Well let’s save it for the show.

Jill DeWit:                            Okay. What if I forget it by then?

Steven Butala:                   I’m going to write these down.

Jill DeWit:                            All right, three things.

Steven Butala:                   Three things.

Jill DeWit:                            Okay, all right, all right.

Steven Butala:                   I’ll remind you.

Jill DeWit:                            Okay.

Steven Butala:                   This happens with Jill all the time. “Let me talk, let me talk. I’m going to forget what I’m going to say. I’m forget what I’m going to say.”

Jill DeWit:                            [inaudible 00:01:45]

Steven Butala:                   Like, in our regular normal life that sort of happens all the time.

Jill DeWit:                            You’re a stinker. That’s why.

Steven Butala:                   Did you ever talk to somebody, and you’re sitting there talking to them-

Jill DeWit:                            Thanks a lot.

Steven Butala:                   You know they’re not really listening to what you’re saying. They’re thinking about what they’re going to say next.

Jill DeWit:                            Oh, that’s not true. That is bad. Steven-

Steven Butala:                   It just happens only when … When you have some-

Jill DeWit:                            Steven.

Steven Butala:                   It happens like 5% of the time-

Jill DeWit:                            Steven.

Steven Butala:                   And it cracks me up.

Jill DeWit:                            Move on. This is not a session.

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

Jill DeWit:                            It sounds like you’re venting about me here.

Steven Butala:                   Oh, no.

Jill DeWit:                            Thank you.

Steven Butala:                   Nobody loves you more than me, Jill.

Jill DeWit:                            Thank you. Steven K. asks, “So I’m moving into this social media channel for advertising properties.” Love it. “And I am clueless on best practices for using Facebook, but I have been doing some research on getting going. A couple of questions I’m hoping to get answers: Is it best to use a personal page or a business page in your selling entity name for doing the property ad post?” That’s one. Two, “What is meant by boosting a post?” Three, “Any tips on finding a local group relevant to what we sell?”

Jill DeWit:                            These are great questions by the way, and I want to go back and read them all, and then I want to go back and do one by one, by one answers okay?

Steven Butala:                   Sure.

Jill DeWit:                            So four-

Steven Butala:                   Oh, I didn’t know there was another one.

Jill DeWit:                            “Do you use a website or YouTube video link in your postings, either the marketplace or by sell groups? Truthfully, I’ve avoided social media, so I already struggle with the time, suck-”

Steven Butala:                   The time suck.

Jill DeWit:                            “The time suck that is the Internet.”

Steven Butala:                   That’s how I describe our kids.

Jill DeWit:                            Yeah, they do suck time. But, I really-

Steven Butala:                   There’s so much derogatory stuff I could say right now.

Jill DeWit:                            This is so horrible. I feel bad. This is just like a let it all show.

Steven Butala:                   You suck time.

Jill DeWit:                            I’m sorry. I’m going to start naming our kids Time Sucker #1, Time Sucker #2, and Money Sucker #3.

Steven Butala:                   And Time Bandit.

Jill DeWit:                            Time Bandit. All right, because one and two are reasonably efficient and they don’t cost us anything, or not a lot. Number three is getting expensive, man.

Steven Butala:                   Yeah.

Jill DeWit:                            All right, “But I really feel I should start up another marketing channel to help move properties. Any help appreciated.” All right, let’s go back-

Steven Butala:                   Okay, these are very, very good questions.

Jill DeWit:                            Again. And this is, again too, this is a great one too. If you want to read this, you could go onto our online community and find it for yourself. Okay, so is it best to use a personal page or a business page, and your selling entity name if you’re doing a property ad-

Steven Butala:                   Can I just this before we answer these questions? I was exactly-

Jill DeWit:                            Posts.

Steven Butala:                   Where you are in 2019.

Jill DeWit:                            Yeah. 19?

Steven Butala:                   I’m sorry, 2011.

Jill DeWit:                            Thank you.

Steven Butala:                   I could not stand the thought of even having a Facebook anything.

Jill DeWit:                            Correct.

Steven Butala:                   I was the last guy-

Jill DeWit:                            He’s against it.

Steven Butala:                   To get on the boat.

Jill DeWit:                            He thought it was stupid. It’s no place for business stuff, let alone it’s just stupid. You were there, that’s true.

Steven Butala:                   I could not be more wrong.

Jill DeWit:                            Right.

Steven Butala:                   And since then, even as recently as this morning, Jill and I were debating on whether or not to use a new app that somebody just referred us to as a new way to pay somebody.

Jill DeWit:                            And I did. I’m like, “You know what? Get over it, Jill.” I did.

Steven Butala:                   My gut reaction is, screw all that new stuff.

Jill DeWit:                            Exactly.

Steven Butala:                   And then I started thinking and I’m like, “You know what? That’s crazy. You’ve got to embrace this new technology or you’re never going to do it.” Anyway, go ahead.

Jill DeWit:                            I have Post Mates now. I have Vimeo now. You name it. I’m like, “Bring it. Let’s do it all. I’m in.” Oh, and it ties into this, you’re right, the old mentality of [inaudible 00:05:29] your business, or don’t let that much information out there, get over it. It’s out there, and it’s fine.

Steven Butala:                   I’m constantly, as a side note, a victim of age discrimination with technology.

Jill DeWit:                            Right?

Steven Butala:                   So if you’re over, hold on a second, if you’re over 50 you know what I’m talking about.

Jill DeWit:                            Yeah.

Steven Butala:                   Where people will just walk up to you and just assume-

Jill DeWit:                            Yeah, that you don’t know.

Steven Butala:                   By your age, that you have flip phone and you’ve never been on a computer.

Jill DeWit:                            [inaudible 00:05:55]. That’s funny.

Steven Butala:                   It really cracks me up, because you know-

Jill DeWit:                            And we do circles around them.

Steven Butala:                   Because I started programming in basic in 1986.

Jill DeWit:                            Right.

Steven Butala:                   I was just that weird guy.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   So it’s just funny, man. I really have a lot of fun with these kids, and they just assume I can’t do anything.

Jill DeWit:                            We’re just ready to figure it out. Like if I have to go to the back end of the website and change the pricing table-

Steven Butala:                   Yeah, both of us.

Jill DeWit:                            I can do it.

Steven Butala:                   Yeah, me too.

Jill DeWit:                            Big deal. Everyone’s like, “Why do you not do that?” Well, you just figure it out. It’s not that bad. It’s not that hard. All right anyway, so is it best to use a personal page or a business page? Well, if you’re just, just, just starting out, you probably don’t … maybe you haven’t even picked your business. Maybe you don’t even have an LLC. You don’t even know what you’re going to call yourself. It’s just you, Steven K., buying and selling property.

Jill DeWit:                            So it’s okay to use your personal page. I would recommend though promoting your business sooner than later.

Steven Butala:                   Yeah, it’s [inaudible 00:06:50]. My answer is [inaudible 00:06:50].

Jill DeWit:                            Yeah, and get that rolling. That’s what we have. We have our pages. I have my personal profile. I have a Jill DeWit profile you probably have seen, and then I have a Jill DeWit page.

Steven Butala:                   Yeah.

Jill DeWit:                            I tried to keep them separate. I’m over it. It’s hard to. Even that’s hard, because I know I’m going to reach, on my personal side, I’m going to reach a limit and they only let you go so far.

Steven Butala:                   5000.

Jill DeWit:                            Right, and then you have to go to a page to get more-

Steven Butala:                   5000 friends.

Jill DeWit:                            Followers and things.

Steven Butala:                   And it’s limitless on a page.

Jill DeWit:                            So that’s why I kind of set that up, so I’ve kind of got them both going together so I’m set. As do you.

Steven Butala:                   Chances are, if you’re asking this, you haven’t really developed a personal page, but most people who have a personal Facebook page have had it for quite some time and-

Jill DeWit:                            Maybe you don’t want to use that.

Steven Butala:                   The people that are on there are just the people you went to high school with. They don’t need to know that you just bought a piece of property in Nevada, and you’re selling it.

Jill DeWit:                            Right, so ahead and do that. We have our Land Pen, and Land Stay. Both business Facebook pages. Offers2Owners has one. Land Academy has one. House Academy has one. So, do that.

Jill DeWit:                            Number two, what is meant by boosting a post? That’s paying money to get it seen by more people. Do you want me to say anymore about that, or I’m sure you can Google that and get all kinds of details.

Steven Butala:                   There’s a whole world-

Jill DeWit:                            Yeah.

Steven Butala:                   And I’m bringing this up on the show not to waste time, but because it’s truly beneficial, a whole world called Facebook Business, and you can, with incredible amount of efficiency and accuracy, reach people to sell them a piece of real estate.

Jill DeWit:                            Yep.

Steven Butala:                   Especially if it’s a 40 acre property in Nevada, and a ZIP code obviously, you can reach anybody who’s on Facebook in that ZIP code who has some relevant interest in owning a 40 acre property like they’re interested in hunting. They’re interested in camping. They’re interested in real estate.

Jill DeWit:                            Right.

Steven Butala:                   They are a licensed real estate agent, and then all of the surrounding ZIP codes. So it’s very, very worth it to explore the back of what’s … If you just Google “Facebook Business,” it’s truly amazing. Jill and I have … I have launched whole companies that are just based on the fact that there’s so such powerful marketing in Facebook.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   So boosting a post is just a tiny little tip of doing that. What you’re really doing when you hit that boost button is trusting Facebook to make all those decisions for you. Like, do you want women to see it? Do you want men to see it? Do you want men over 40 to see it? Or under 40? Or on and on, and on. Or, men who are only interested in collecting rain water. It’s insane.

Jill DeWit:                            Yep.

Steven Butala:                   It’s insanely good.

Jill DeWit:                            Now, any tips on number three, on finding local groups relevant to what we sell? Well, there’s a couple of ways to do this. You could go out and organically look for and like you know have a beautiful Oklahoma property on a lake. It’s going to be perfect for an Oklahoma fisherman. You could easily search in social media and find a group specific to Oklahoma fishing, and put your property in there. That’s one way.

Jill DeWit:                            Then the other way, like Steven said, through the business ways of promoting and marketing your property, you could in there select people that are in an area, in a state, even in a ZIP code, however you want to drill it down, and they have expressed interest in fishing and in camping, and in collecting rain water, living off the grid, whatever it is. You know, cabin life, you can go and do that. So there’s a couple of ways that you could do it. I would suggest try them and see what you think works best for you.

Jill DeWit:                            Then number for, do you use a website in your YouTube video link? YouTube video link in your postings to either the marketplace or Buy/Sell groups. I’m trying to think exactly how to say it, but should you have a video? Heck yeah. So I would totally do that. What I would say too real quick, to make it really, really easy starting out for anyone starting out, just make it easy. Set up your Facebook Business page. Let’s just cut to the chase here.

Jill DeWit:                            Link your Facebook, your Twitter, your YouTube, your whatever it is, link that platform to your profile in Land Pen because when you’re a member, I’m a [inaudible 00:11:10] member, you’re going to go in and post your property in Land Pen. Once you have it in Land Pen, you put your video in there, your photos and everything like that. It is so easy at the push of a button to share it from there to all the social medias, and then once you share it to your page in Facebook, from there you can share it all over to these different groups-

Steven Butala:                   You can market it and pay it-

Jill DeWit:                            And market it all that stuff.

Steven Butala:                   We own Land Pen.

Jill DeWit:                            Right, that’s our site.

Steven Butala:                   Land Pen is literally just a click of a button, and it’s all linked up.

Jill DeWit:                            Yeah.

Steven Butala:                   It’s pretty cool.

Jill DeWit:                            So that’ll make it really easy for yourself. That’s what I would say.

Steven Butala:                   It’s not just Facebook too. It’s Twitter and a few other ones.

Jill DeWit:                            That’s why I said I stopped listing them-

Steven Butala:                   Instagram.

Jill DeWit:                            But there’s a bunch.

Steven Butala:                   Yeah.

Jill DeWit:                            So, ding ding.

Steven Butala:                   Hey, all of this, all Facebook and all of social media is meant to drive traffic somewhere. If you don’t have website, or you don’t have a place to drive traffic to-

Jill DeWit:                            Good point.

Steven Butala:                   What’s going to happen is this, you’re going to have a tremendous amount of success generating all this traffic to your cell phone, or to your email inbox. The vast majority-

Jill DeWit:                            Or nowhere if you don’t put it.

Steven Butala:                   Of the people are going to be tire kickers.

Jill DeWit:                            Yeah, right.

Steven Butala:                   So what you need to do is have a way to some place, whether it’s your own website or somewhere, where they can just click “Check out.”

Jill DeWit:                            Right. Get them to the posting where they could buy it.

Steven Butala:                   Yeah.

Jill DeWit:                            Perfect.

Steven Butala:                   These are good questions.

Jill DeWit:                            Yeah.

Steven Butala:                   I can guess your age. Your age is close to mine. Oh, I’m doing age discrimination now too.

Jill DeWit:                            What the heck? Okay.

Steven Butala:                   He goes on to say, “Truthfully I’ve avoided social media as I’ve-” oh, the time sucker, already did that.

Jill DeWit:                            We already read that. Thank you though.

Steven Butala:                   Today’s topic, Already Successful Members in Life Succeed at Land Academy. This is the meat of the show.

Jill DeWit:                            I remember there was a time-

Steven Butala:                   Three things.

Jill DeWit:                            Right, I’m bringing that back. You and I quickly identified there were three things that we could see a majority of our members all had in common that made them successful. Number one was they were prior business owners.

Steven Butala:                   Yes.

Jill DeWit:                            That was very helpful.

Steven Butala:                   Although it’s not necessary.

Jill DeWit:                            But not necessary.

Steven Butala:                   It’s a very good indicator.

Jill DeWit:                            But let me explain why. That was super helpful because having already owned a business, and got it successful to some point, meant that you know how to deal with obstacles, how to get stuff done. You know, when a door closes in your face, you find another way to do it.

Steven Butala:                   You know how to manage time.

Jill DeWit:                            You know how to manage time, maybe negotiate … all the obstacles that you had starting your business, because there are many even if you’re in a franchise, there will be obstacles. You got through it all, and you knew how to run your own business. I don’t care if it’s your own online consulting business. Whatever it is, you figured out how to take payments, and have a budget. So all those things are important.

Jill DeWit:                            Second thing that we knew everybody had coming into this, and we want … Because then I started doing this because I wanted to be very honest with people and I want them to have good expectations and not fail coming into this. Let’s face it, you need to have some money coming into this. You cannot be successful in any business if you’re walking in A, borrowing money, or just trying to do it on a really tight, small budget. It’s not going to work.

Jill DeWit:                            You’re going to be stressed. You can’t afford to do stuff. What if you can’t send out enough mail? You can’t afford to get enough offers back. Oh, and now you can’t afford to really buy some good properties. You’re not going to be successful. You really need to have some funds behind you. So what I tell people too to get around that is, “Save up.” I don’t care.

Steven Butala:                   This is good.

Jill DeWit:                            I had so many members-

Steven Butala:                   Good advice, Jill.

Jill DeWit:                            Thank you. They had conversations literally with me, and I said, “You know what? We are not going anywhere. Call me in six months. It sounds like you have a budget figured out. Save up that money and when you have it, come back.” I can’t tell you the number of people that came back and said, “Jill, I did what you said. I am back. It was a year ago next month that we talked, and I saved it up. You were right, and I feel so good. Now I’m ready to do this.”

Jill DeWit:                            I’m like, “Yay, thank you. I told you we’d still be here. Now you can do it right.” So if you don’t have the money, that’s okay. Pause, absorb all you can, be in our online community, and listen to all this stuff, save up the money and then do it right.

Jill DeWit:                            The third thing was the one I was racking my brain. All I could think of was maybe they had … Do you remember what the third one was?

Steven Butala:                   No.

Jill DeWit:                            I thought maybe the third one was a little bit of a prior understanding of real estate.

Steven Butala:                   I think it was patience for computers.

Jill DeWit:                            You think that was it?

Steven Butala:                   Yeah.

Jill DeWit:                            Oh.

Steven Butala:                   If you don’t have patience for computers, this will not work.

Jill DeWit:                            Okay.

Steven Butala:                   Period.

Jill DeWit:                            That’s fair.

Steven Butala:                   All the people [inaudible 00:15:51] that are the top tier people in our group, myself included, we spend 12 hours a day on a computer.

Jill DeWit:                            That’s true.

Steven Butala:                   Then when we go home we watch Netflix or something.

Jill DeWit:                            Oh, oh, oh, oh, I know what it was. You just jarred it. Not being afraid of data.

Steven Butala:                   I jarred it?

Jill DeWit:                            That was it.

Steven Butala:                   I jarred it out of you?

Jill DeWit:                            You jarred my memory. You jarred it. See, I love the correct … but anyway.

Steven Butala:                   You know what? When you’re in a relationship with somebody, and they do stuff … and it’s cute, man. Like, you do cute stuff, love.

Jill DeWit:                            Okay, thank you. That was it.

Steven Butala:                   It’s just only cute to me.

Jill DeWit:                            That was number three, data. I used to say if you are afraid of data, and spreadsheets make you break out in hives, then you need to either A, get a partner who can do it, or B, don’t do this. Go do something else. Maybe write a book, I don’t know.

Steven Butala:                   Yeah, buy a convenience store or something.

Jill DeWit:                            Do something else, yeah.

Steven Butala:                   Yeah.

Jill DeWit:                            Even there, you need to know data though, for doing your inventory stuff.

Steven Butala:                   Yeah, you should.

Jill DeWit:                            There’s something else for you if you can’t do spreadsheets and data. That was the third thing.

Steven Butala:                   Jill and I were recently at a trade show for the industry. It’s not real estate or it’s not anything related to Land Academy, or land, or real estate at all. It’s entirely completely different, but it was the International Trade Show for that. There was the one that the whole world goes to. Literally, over the world, people were there. There was a speaker and he said, and he was talking to people who owned businesses.

Steven Butala:                   He said, “Think about the way people ride an escalator.” There’s several ways that people can ride an escalator. I’ll tell you how Jill and I do it. First of all, if there’s stairs as an option we’ll take the stairs.

Jill DeWit:                            We’ll take the stairs.

Steven Butala:                   Number two, if we’re on the escalator, we’re going to run up the thing. That’s just how we-

Jill DeWit:                            We don’t just get on and stand there, and move.

Steven Butala:                   Jill was like this when I met her.

Jill DeWit:                            Yeah, thank you.

Steven Butala:                   I found her this way. I didn’t … We’re like an influence on each other. It’s even worse.

Jill DeWit:                            “I pulled her out of the lake this way.” “I found her this way.” What, was I lying alongside the road?

Steven Butala:                   Pulled her out of the lake this way?

Jill DeWit:                            That’s what it … “I found her this way.” I’m never … that’s-

Steven Butala:                   So it’s like, you know two alcoholics meet [inaudible 00:18:01], and they drink together.

Jill DeWit:                            Oh, yeah you’re right.

Steven Butala:                   That’s what happened to us.

Jill DeWit:                            That’s perfect.

Steven Butala:                   Anyway, there’s a lot of people, some people is just standing-

Jill DeWit:                            It’s true.

Steven Butala:                   On the escalator and kind of look at their nails and wait.

Jill DeWit:                            Oh, I couldn’t do that.

Steven Butala:                   Some people-

Jill DeWit:                            Thank God you’re not like that too.

Steven Butala:                   Will not only stand on the escalator and look at their nails, they’ll take up the whole escalator-

Jill DeWit:                            Oh yeah.

Steven Butala:                   Through the people who are-

Jill DeWit:                            And block the ones behind them.

Steven Butala:                   Trying to walk … yeah. So he showed this little video, and the escalator stops, right?

Jill DeWit:                            Yeah.

Steven Butala:                   And there’s people on the escalator.

Jill DeWit:                            It’s good.

Steven Butala:                   It’s the different ways people react to … Some of them are calling for help. They couldn’t even like-

Jill DeWit:                            Yeah, the escalator stopped, and the video was-

Steven Butala:                   They couldn’t walk up it.

Jill DeWit:                            Yeah, they didn’t know how to get to the top. They’re like, “Hello?” They’re calling, “Hello? Somebody come get us. It stopped.” And they couldn’t think-

Steven Butala:                   If you’re the kind of person-

Jill DeWit:                            It’s good.

Steven Butala:                   Who runs up an escalator and takes responsibility for getting to the top and not relying on that escalator regardless of what happens, you’re going to do okay in this.

Jill DeWit:                            That’s wonderful. Do you want to talk about some of our successful members already?

Steven Butala:                   I said that in the beginning. I said, and I’m sitting here racking my brain thinking of the top tier, the advanced group. Every single one of them has been … They came to us already successful at something that they for whatever reason just didn’t want to do any longer. I’m sitting here thinking about intermediate live event. I mean every single person, we had bracket scientists literally-

Jill DeWit:                            Yeah, literally.

Steven Butala:                   In that room. We had an online Amazon retailer that’s exceeding-

Jill DeWit:                            Killing it there.

Steven Butala:                   A million dollars a month. We had all kinds of sales people and insurance people, they were already very successful at something.

Jill DeWit:                            Stock.

Steven Butala:                   Or they were tired of it.

Jill DeWit:                            Market people.

Steven Butala:                   We have one person in our group that has just killed it in the solar panel industry, and he’s just tired of it.

Jill DeWit:                            Exactly.

Steven Butala:                   You know, the technology and the customer service part.

Jill DeWit:                            Right.

Steven Butala:                   So there’s all kinds of things that you … You know, being successful at something … Recently Jill and I sent out a very detailed survey to all of our members, and we had a huge response.

Jill DeWit:                            Yep.

Steven Butala:                   I mean it’s like an hour long to take the survey. You know what the number one concern that they had was? The number one thing that was stopping them from being succeeding, time, management and their personal life.

Jill DeWit:                            Yep.

Steven Butala:                   Not real estate. Not knowledge. Not money.

Jill DeWit:                            Not data.

Steven Butala:                   So if you can lick that in whatever you’re doing now, you can manage three kids, and still have a job and do well, and have a mortgage and all of the stuff that’s associated with that, you’re going to do just fine with this. If that kind of regular stuff just bogs you down and you’re shaking your fists at life and saying, “I didn’t get a fair shake, and this escalator sucks,” this is not for you. But you wouldn’t be listening to this show anyway.

Jill DeWit:                            Thank you.

Steven Butala:                   You’re going to watch a sitcom or something instead.

Jill DeWit:                            Perfect, I could not have said it better.

Steven Butala:                   Like we said, again, you’ve spent another 20 minutes or so listening to The Land Academy Show. Join us next time where Jill and I talk about the difference between a successful mailer, and a failed mailer.

Jill DeWit:                            Oh, 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.

Steven Butala:                   I just realized that every single episode now, there’s some version of a rant.

Jill DeWit:                            I was going to say that. Are we changing the whole tone here?

Steven Butala:                   So then I was thinking earlier this week, I was thinking, what if I did another show … We’re going to do another show called The House Academy Show-

Jill DeWit:                            Right.

Steven Butala:                   When we launch House Academy here in April.

Jill DeWit:                            Right, because we don’t have enough on our plates.

Steven Butala:                   And it’ll be similar to this one with a different twist.

Jill DeWit:                            Right.

Steven Butala:                   Then I was thinking, what I did a show on top of that by myself, audio only-

Jill DeWit:                            Oh, that’d be great. You’d get the rants out there-

Steven Butala:                   That I just talk about the stuff that I want to talk about.

Jill DeWit:                            That’d be awesome.

Steven Butala:                   But then I started thinking, like let’s say a business leader like Bill Gates, or even a celebrity, I’m just throwing people off the top of my head like Brad Pitt. What if they got on the radio, or in front of the microphone and really told you how they feel? Because I put Bill Gates on the highest pedestal ever. I don’t really want to know how he feels.

Jill DeWit:                            Oh, okay.

Steven Butala:                   I don’t want to know that. I want Bill Gates to be the Bill Gates that I know, or Brad Pitt to be the bad actor that I have this perception of.

Jill DeWit:                            Yeah, we don’t want you to burst that bubble of you, the just the loving, patient, sweet, calm individual that we all see every day.

Steven Butala:                   You know what we could to even top that?

Jill DeWit:                            Huh?

Steven Butala:                   Is just we can fill in some of the tips that Jill and I get into at the kitchen table.

Jill DeWit:                            Oh, because that’s a good idea. No, no, no.

Steven Butala:                   I will take this opportunity and publicly announce that yesterday I stepped down as CEO of Land Academy and became a full-time at-will consultant. The new CEO’s name is Jill.

Jill DeWit:                            Thank you for sharing that. I appreciate that.

Steven Butala:                   I feel calmer, and I feel like a nicer person already.

Jill DeWit:                            I am so happy.

Steven Butala:                   Do you feel massive pressure?

Jill DeWit:                            I do not. You know why?

Steven Butala:                   We hit financial milestones.

Jill DeWit:                            Because you handed me a beautiful, well oiled-

Steven Butala:                   Well staffed.

Jill DeWit:                            Well staff operation, and we got this. Now we can work on The House Academy-

Steven Butala:                   And that’s it.

Jill DeWit:                            And whatever else you want to roll in.

Steven Butala:                   I am on to House Academy.

Jill DeWit:                            We got this. Thank you very much, Steven.

Steven Butala:                   Land Academy hit it’s financial milestone-

Jill DeWit:                            Thank you.

Steven Butala:                   That we were all trying to-

Jill DeWit:                            Hey, is there a monetary thing that comes along with my promotion? Or not really?

Steven Butala:                   You’re CEO.

Jill DeWit:                            Oh, okay. Oh, duh. Well the answer is yes.

Steven Butala:                   Give yourself a raise if you want.

Jill DeWit:                            I’m going to get to that right now. Wherever you are watching, or wherever you are listening, please rate us there.

Steve & 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.

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.

Proven (LA 939)

Proven (LA 939)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            And I’m Jill DeWitt, broadcasting from sunny southern California.

Steven Butala:                   Today, Jill and I talk about the word proven. And full disclosure, I was watching a basketball, a college basketball game, and Ford commercial came on and it said, “Proven.” And I’m like, you know what?

Jill DeWit:                            Is that where this came from?

Steven Butala:                   Ford is proven. We’re proven.

Jill DeWit:                            Oh.

Steven Butala:                   There’s a lot in that word.

Jill DeWit:                            There is.

Steven Butala:                   A lot. I have a lot to say.

Jill DeWit:                            I’m sure you do.

Steven Butala:                   Hey, before we get into it, though, let’s take a question. Before we get into the question, even, I have been … I don’t think you see the comments people make about this show.

Jill DeWit:                            No, I don’t look at them. I don’t.

Steven Butala:                   Recently, there’s been a couple of comments about how-

Jill DeWit:                            Uh-oh.

Steven Butala:                   … will you guys quit screwing around?

Jill DeWit:                            Oh.

Steven Butala:                   You’re making … This wonderful somebody says …

Jill DeWit:                            Or I’m here to get some education.

Steven Butala:                   “You guys are so unprofessional-

Jill DeWit:                            Oh. Seriously?

Steven Butala:                   You’re laughing and joking and the only jokes are inside jokes. No one cares.” Yeah. Stop having so much fun. It’s like my high school-

Jill DeWit:                            Teacher. Yeah, don’t enjoy this.

Steven Butala:                   … social studies teachers.

Jill DeWit:                            You’re not supposed to enjoy your childhood.

Steven Butala:                   Stop having so much fun.

Jill DeWit:                            Or enjoy your adulthood.

Steven Butala:                   Stop laughing.

Jill DeWit:                            Exactly. We’re here to get serious, young man.

Steven Butala:                   Yeah. Yeah. We’re here to buy and sell real estate.

Jill DeWit:                            Not enjoy this. I don’t care how big your bank balance is. Do not enjoy it.

Steven Butala:                   Before we get into it, let’s take a question by one of our members on the landinvestors.com online community. It’s free. And do not laugh. Whatever you do.

Jill DeWit:                            I promise.

Steven Butala:                   And don’t smile.

Jill DeWit:                            I won’t. Nope. Sorry. I will not have fun. It’s like I used to do that with the kids. Ben C. asks, “Hi, everyone. So this is my first official post. Tested out a comment yesterday, but figured this was the best place to start. My wife and I have been researching vacant land investing somewhat passively, I might add, for the better part of six months.” Good.

Steven Butala:                   Good.

Jill DeWit:                            “Over the past two months, I figured it was time to take it seriously and really buckle down the research and looked at something other than YouTube videos and gave myself a launch date of June 1, 2019.” This is awesome.

Steven Butala:                   This is great.

Jill DeWit:                            Yeah. “The goal is to target vacant land residential lots between a quarter and five acres to start, supplement with larger wholesale lots to get experience with bigger deals without the risk and scale upward from there. I would really like to test a soft start and do a mailer to start. Here are the main things I have questions on. One. What is the least amount of set up? Entity, a PO box, mailers, et cetera, that you need to perform your first mailing? Two. What would be the first things that you would set up after your first mailer? Buyer seller site-

Steven Butala:                   This person is going to be incredibly successful.

Jill DeWit:                            He’s kind of got it all figured out.

Steven Butala:                   Way thorough project list.

Jill DeWit:                            Three. How worth it is, how has the pro membership been and would you recommend enrolling right away for a beginner?” I would love to … Did you see any of the comments? I’m just curious what people weighed right in, because I have an idea.

Steven Butala:                   Oh, I expect there’s a lot of comments.

Jill DeWit:                            I know how they would answer this, so …

Steven Butala:                   Well, let’s take them one by one.

Jill DeWit:                            Okay.

Steven Butala:                   You go first.

Jill DeWit:                            Okay.

Steven Butala:                   What’s the least amount of set up? Entity, PO box, mailers, et cetera-

Jill DeWit:                            Okay.

Steven Butala:                   … that you need to perform for your first mailer.

Jill DeWit:                            Entity, not needed. LLC not needed yet. But you do need an address and a phone number that you’re going to keep forever, because once you start this process, you don’t want to be changing it.

Steven Butala:                   Not your home address.

Jill DeWit:                            And don’t use your home address. Exactly.

Steven Butala:                   We cover all of this in the education, by the way-

Jill DeWit:                            It’s true.

Steven Butala:                   … but that’s okay.

Jill DeWit:                            And you can, Ben, especially your first couple deals, you can put them in your name.

Steven Butala:                   Yeah.

Jill DeWit:                            We talk about this before, too. There’s nothing wrong with putting them in your name in the beginning, while you’re learning this, you know, your first five or 10 deals. Whatever it is. And then after you’re into it, you figure out, “Oh, this works. I love it. We want to do it.” Now, go do the LLC and set that up. But still your address and your phone number did not change. And make sure it’s number that you own, that you can port with you, because trust me, throughout your career here, in this business, you will have different phone systems, a different phone. You’re probably living in a different place. All this stuff is going to change so that’s why you need those things to be constant, that you could forward them and port them-

Steven Butala:                   Yeah.

Jill DeWit:                            … wherever you need to.

Steven Butala:                   That’s right.

Jill DeWit:                            So, like for us right now, it’s our same … How long has it been our same mailing address? 25 years?

Steven Butala:                   Since 1994.

Jill DeWit:                            This goes back to proven, by the way.

Steven Butala:                   Yeah.

Jill DeWit:                            So since 1994, it’s the same mailing address. Has not changed. Have our offices changed? Heck yeah. States have changed.

Steven Butala:                   States have changed.

Jill DeWit:                            Exactly. Relationships have changed. But you know what?

Steven Butala:                   You know what? That mailbox-

Jill DeWit:                            You might get divorced, Ben, but you’re still going to have that PO box.

Steven Butala:                   That mailbox is older than all three kids.

Jill DeWit:                            I was just kidding. That’s funny. It is older than all three kids. That’s very true.

Steven Butala:                   That’s amazing.

Jill DeWit:                            You’re right. That’s what’s constant and that’s important.

Steven Butala:                   Okay. I want you to picture, you listeners and caller, writer, I want you to picture … You send out all this mail. And picture a woman sitting at her kitchen counter in the morning, opening the mail. She’s got a cup of-

Jill DeWit:                            What’s she drinking? Oh. There we go. I knew it.

Steven Butala:                   A cup of coffee. She’s got a cup of coffee and some incident in the last five to seven days.

Jill DeWit:                            She has a Kleenex in her hand and she’s crying ’cause her husband just passed on.

Steven Butala:                   Oh, stop. That’s terrible.

Jill DeWit:                            I don’t know. I’m sorry.

Steven Butala:                   Jeez.

Jill DeWit:                            I don’t know. I’m sorry. Her dog-

Steven Butala:                   Some incident-

Jill DeWit:                            Her dog got hit.

Steven Butala:                   Okay. That’s bad, too.

Jill DeWit:                            Okay, well, I’m sorry.

Steven Butala:                   Some incident in her life is causing some financial stress. We have all been there a million times. It doesn’t matter what it is.

Jill DeWit:                            Kid going to college. I’ll make that a happy thing.

Steven Butala:                   Kid going to college. Yes.

Jill DeWit:                            He needs money for college.

Steven Butala:                   That’s right.

Jill DeWit:                            Because we’ve dealt with this situation, too.

Steven Butala:                   That’s right. So and she’s got this crazy piece of property that her husband bought or somebody bought her or she inherited. For whatever reason, she’s got a bunch of vacant land that she never has no intention of using, ever. She opens the mail, she reads the letter, and says, “Heck, yes. I really do want to sell this, but I bet it’s a scam.” This is what everybody … Every single business. So you need, and then I’m answering this question. What’s the least amount of set up that you need to do? What you’re doing is preparing to ease that person’s concern about whether or not this is real.

Jill DeWit:                            Right. And you’re legit.

Steven Butala:                   So you need a website. And you don’t need an overdone website. You need maybe a single page or two or three pages.

Jill DeWit:                            Show who you are and you’re legit.

Steven Butala:                   It has a picture of you and your dog and your wife, or whatever make you seem like a normal person.

Jill DeWit:                            Right.

Steven Butala:                   And some information about how you buy and sell property and you’re part of a group called Land Academy and you help people by liquidating unwanted assets.

Jill DeWit:                            And making it very easy for them.

Steven Butala:                   Yeah.

Jill DeWit:                            And you pay cash.

Steven Butala:                   And in your spare time, you race Golden Retrievers or something that makes you really identifiable. That’s what you need. That’s the answer to that question. They’re going to look you up. What do you do? What do you do when you get a piece of mail and you’re concerned or what do you do before you go out to eat?

Jill DeWit:                            Google them.

Steven Butala:                   You Google it.

Jill DeWit:                            Then you look on Yelp, you read the reviews-

Steven Butala:                   Yeah.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s what they’re going to do.

Jill DeWit:                            Yep. Can I say more on question two?

Steven Butala:                   Yeah.

Jill DeWit:                            So what would be the first things that you set up after your first mailer? So that answer’s a site and the Google Voice, we’ve covered that, too. Let me go back, too, Ben. I’m not a fan of Google Voice.

Steven Butala:                   Yeah.

Jill DeWit:                            I really want somebody to the answer phone.

Steven Butala:                   Yeah.

Jill DeWit:                            So because you’re going to miss … I can absolutely tell you you’re going to miss deals if you don’t have somebody-

Steven Butala:                   Half. You’re going to miss half the deals.

Jill DeWit:                            … answering the phone. And it’s not expensive. Just … I think they have a thing down to $89 you could start. And through us, you get 20% off that. So how cheap. It’s very cheap.

Steven Butala:                   She means PATLive. Set yourself up on PATLive.

Jill DeWit:                            That’s where I was going to end with. PATLive.

Steven Butala:                   Oh.

Jill DeWit:                            So I was going there. I just hadn’t-

Steven Butala:                   Or get yourself a burner phone. If you intend-

Jill DeWit:                            And forward the number to the burner phone.

Steven Butala:                   Yes.

Jill DeWit:                            Exactly. And if you can kind of answer the calls maybe. It might be hard for people. Let’s just say Pat probably, like everybody, has a day job.

Steven Butala:                   Yeah.

Jill DeWit:                            Just invest in PATLive. It’ll be money well spent.

Steven Butala:                   Okay.

Jill DeWit:                            Then.

Steven Butala:                   Question number three.

Jill DeWit:                            And it has how worth it, how’s it been, the pro membership been and would you recommend enrolling right away for a beginner? I don’t think you can do this without it. The tools that we have, you have to have access to the data. So right there, you’re dead in the water, if you don’t have it. You have to have that.

Steven Butala:                   You have to get the data somewhere, okay? And that’s my stock answer for, “Is Land Academy’s membership worth it?”

Jill DeWit:                            Right.

Steven Butala:                   I mean, where else are you going to get the data? I guess …

Jill DeWit:                            It’s not this cheap.

Steven Butala:                   And the education. That’s how I look at this. The education’s free. What you’re really paying for is the data.

Jill DeWit:                            Okay.

Steven Butala:                   Access to the data.

Jill DeWit:                            I think you’re paying to learn how to do this, though, too, in the programs.

Steven Butala:                   I mean, I’ll tell you, Jill and I fund a lot of deals, so if you go to Land Investors and go to get funded or I think it’s funding.

Jill DeWit:                            Deal funding.

Steven Butala:                   That’s one of the menu items. We partner with a lot of people and we also entertain partnering with people who are not members.

Jill DeWit:                            Exactly.

Steven Butala:                   And I’ll tell you, there’s a massive difference between the people who are educated and the people who aren’t.

Jill DeWit:                            Exactly.

Steven Butala:                   And the deals that they choose, how they choose them, and how they just handle the whole thing.

Jill DeWit:                            It’s very true. Exactly. So back to-

Steven Butala:                   Ask other people in Land Investors if this is worth it. Don’t ask us.

Jill DeWit:                            Yeah. So, yeah, I’m sure he’s doing it.

Steven Butala:                   We obviously believe in it.

Jill DeWit:                            Well, you know what, and for listener, by the way, if this is something that’s of interest to you, please go on the landinvestors.com website right now. You can find this thread that was written by Ben. We really pulled it out of there. And read what our members have said and you can see, read a lot more about it, too. Right there. But, yeah, the membership, I’m serious. You’re dead without the membership, because I need the data. I need the cheaper mail. I need to be able to do my due diligence-

Steven Butala:                   You need ParcelFact.

Jill DeWit:                            That’s one thing.

Steven Butala:                   You can’t do this without ParcelFact.

Jill DeWit:                            When the calls come in. Yeah, you have to have it looked up on ParcelFact. I also need TitlePro247, because I’m doing my due diligence there. I need to check the chain of title.

Steven Butala:                   Yeah.

Jill DeWit:                            Because the county’s not always that great and I don’t always have it up to date there. So I need that information. And now I need to do a deed. Well, I need DeedPerfect, so there we go, and oh, by the way, now I have a question. Well, you know what? You need us on a Thursday call.

Steven Butala:                   Yeah.

Jill DeWit:                            To ask us that last question. Maybe even on a Thursday call, because you’re a member, is just like, I know this is a huge value. You just want to do a would you do this deal with us and give us the state county APN in our closed group and have Steven really look it up right there with you.

Steven Butala:                   Yeah.

Jill DeWit:                            For free. And say, “Yeah, I would do this deal.” And you’re going to go, “Okay. Great. I’m on the right track. Baby, we got this.”

Steven Butala:                   So, all of that said …

Jill DeWit:                            Yeah.

Steven Butala:                   Is it possible to succeed without Land Academy membership? Yeah. There’s people, if you go over Land Investors, all over the place there’s people that buy and sell land that are not members of Land Academy, so-

Jill DeWit:                            Right. They’ve taped it together.

Steven Butala:                   Yeah.

Jill DeWit:                            It’s a slower … There’s a learning curve.

Steven Butala:                   It’s going to take a lot more time.

Jill DeWit:                            That’s the thing.

Steven Butala:                   That’s it.

Jill DeWit:                            There’s a learning curve if you want to kind of tape it together then on your own. And there’s nothing wrong with that. But if you want to ramp it up faster, jump in.

Steven Butala:                   Yeah.

Jill DeWit:                            Thank you.

Steven Butala:                   Today’s topic, the word proven. This is the meat of the show. What I never anticipated when we started Land Academy … This is not a profit center for us. Land Academy is not a profit center. We buy and sell land and now we partnership with people, and that’s how we make money. We do this show as kind of a way to give back to the whole industry and just to help. And frankly, Jill and I enjoy it most of the time.

Jill DeWit:                            Right.

Steven Butala:                   What I never anticipated when we started Land Academy in 2015 are the offshoots of people-

Jill DeWit:                            Oh.

Steven Butala:                   … holding their own webinars and their groups and all kinds of stuff and I think it’s great.

Jill DeWit:                            Starting their own little side things.

Steven Butala:                   I think it’s great. The real estate business and the internet in general is riddled with unproven events.

Jill DeWit:                            Yeah. I see.

Steven Butala:                   Or products.

Jill DeWit:                            So your point here is-

Steven Butala:                   There are some people-

Jill DeWit:                            … do your homework on people?

Steven Butala:                   There are some people that I don’t think they’ve shaved yet-

Jill DeWit:                            That’s-

Steven Butala:                   … that are trying to teach other people how to buy and sell real estate. Or they’re dying, dying to get in front of a camera and have their own show.

Jill DeWit:                            Are you talking about … So you’re saying experience. There’s nothing to whether it’s life experience-

Steven Butala:                   How can you have a show?

Jill DeWit:                            … and/or-

Steven Butala:                   Real estate experience.

Jill DeWit:                            Right. Real estate experience. Okay.

Steven Butala:                   How can you have a show-

Jill DeWit:                            Which I agree.

Steven Butala:                   … when you’ve done five or six deals?

Jill DeWit:                            Could you imagine?

Steven Butala:                   Or let’s say you’ve done none.

Jill DeWit:                            I’ve got this. I’ve done the whole program. Forwards, backwards, three times. I’m going to start something right now. I got this.

Steven Butala:                   So I’m glad you’re listening to the show.

Jill DeWit:                            That’s very, very true.

Steven Butala:                   I’m glad … You know, there’s this … Our group is packed full of great people. It really is. And they’re educated well and the vast majority are doing really well for themselves. So you obviously have a choice about what you listen to and what you watch. It’s just it cracks me up more and more for some reason, people are … I’m glad. It’s just funny. It’s funny for me.

Jill DeWit:                            I still, though … I’m sure you do, Steven. I still take it as a compliment.

Steven Butala:                   Yeah.

Jill DeWit:                            You mean, so let’s all back up here. And I just want to point a couple things out. What a great compliment that we have shared and taught and coached and helped people, supported people to the point that they’re like, “I can teach other people and I can help other people.” What a compliment to us about that.

Steven Butala:                   Yeah.

Jill DeWit:                            I think that’s huge.

Steven Butala:                   Yep.

Jill DeWit:                            Number one. And I love that we’re reaching … You know, I had someone the other day, just a couple days ago, I was in BiggerPockets putting some comments in there and this girl’s like, “All right. What are you trying to do here?” I’m like, “Nothing. There’s enough deals to go around.” She’s like, “Oh. Okay.” It’s like she thought … I don’t know what she thought I was trying to do or-

Steven Butala:                   Seriously. What-

Jill DeWit:                            It was really kind of weird. She was like-

Steven Butala:                   Tell us about it.

Jill DeWit:                            I was answering somebody’s question. I was sincerely helping them and answering a question and this woman’s like, “All right, what are you … What’s your … What’s your …

Steven Butala:                   What are you selling?

Jill DeWit:                            Yeah. Something like that. And I’m like, “Nothing. I’m really here helping people. Have you not met me and my group because if you come along-

Steven Butala:                   This is what I’m talking about.

Jill DeWit:                            … and see. I’m giving it all away, basically. I’m keeping the lights on and we have a huge staff.” But at the end of the day, we’re not making much money, so anyway, it’s really more giving than getting and, as it should be, you know?

Steven Butala:                   This show gets larger and larger constantly.

Jill DeWit:                            I love it. And that’s Land Academy. And you’re right. Land Academy is … pays for itself. Let’s just leave it at that. And then over here our investing. That’s still our business.

Steven Butala:                   Yeah.

Jill DeWit:                            And I love it and it’s never going to go away, so …

Steven Butala:                   It just cracks me up. There’s lots of critics out there and there’s lots of people that think they can do it and then when you really see what they’ve done, it’s nothing.

Jill DeWit:                            It’s like 20 deals. Now do your homework. That’s a good point. And I don’t want to pick on anybody.

Steven Butala:                   Jill and I have done almost 16,000 deals.

Jill DeWit:                            Yeah. And then of all types.

Steven Butala:                   This is show number 939.

Jill DeWit:                            It’s like do you want to talk about the commercial thing I’m doing right now? Do you want to talk about the house where I just told the lady go jump in a lake, kind of thing? Sure. What do you want to know? Seriously. That was just today.

Steven Butala:                   Jill terminated.

Jill DeWit:                            I did.

Steven Butala:                   She cut off a buyer.

Jill DeWit:                            I did.

Steven Butala:                   Terminated them-

Jill DeWit:                            They were playing games.

Steven Butala:                   … because they were taking too long and they’re whiny.

Jill DeWit:                            Wasting our time.

Steven Butala:                   And I won’t say-

Jill DeWit:                            They think I’m desperate.

Steven Butala:                   I won’t say they’re from Canada.

Jill DeWit:                            I paid cash for it. I’m not desperate. You can walk. I know what’s it worth. I don’t care.

Steven Butala:                   The amount of this conversation.

Jill DeWit:                            I am not sweating.

Steven Butala:                   That has gone on, because we’re down to the last $5000 purchase price and Jill said, “Do you know what?”

Jill DeWit:                            No.

Steven Butala:                   No.

Jill DeWit:                            They went lower. I’m like, “We’re not doing that.”

Steven Butala:                   Jill said no. No. See you. Don’t call back.

Jill DeWit:                            Yeah. Exactly.

Steven Butala:                   I love that about you.

Jill DeWit:                            I did as much as I’m going to do and we’re going to let it go. So because what was the whole … Can I back up here real quick? So I just want to recap here. Proven is, to you, making that we are proven.

Steven Butala:                   We’re proven.

Jill DeWit:                            And making sure that whoever you learn from and follow, if you will, that they’re proven. Do your homework.

Steven Butala:                   Yes.

Jill DeWit:                            Okay.

Steven Butala:                   Yes. You have a finite amount of time.

Jill DeWit:                            That’s true.

Steven Butala:                   And resources.

Jill DeWit:                            That’s true.

Steven Butala:                   Don’t waste it on some silliness.

Jill DeWit:                            That’s true.

Steven Butala:                   That just got your, something was shiny of Facebook or on the internet and it’s … Here’s why I’m saying this. The vast majority, not the majority, at least half of the people that are members now have come to us from other … They have other educator experience-

Jill DeWit:                            Right.

Steven Butala:                   … and they all say a different version of this, “Man, I wish I would have found you guys first.”

Jill DeWit:                            I know.

Steven Butala:                   “I spent too much money and time listening to these ding dongs-

Jill DeWit:                            Yeah.

Steven Butala:                   … doing X, Y, and Z. And it’s not just people. I wish I would’ve found you guys first, with this land thing first, because I wasted a lot of money and lost a lot of money.”

Jill DeWit:                            Yeah.

Steven Butala:                   Renovating a house, because it’s sure not like the HGTV episodes.

Jill DeWit:                            Right.

Steven Butala:                   So spend your time and money on something that’s proven. You deserve it.

Jill DeWit:                            I have nothing to say.

Steven Butala:                   Mic drop.

Jill DeWit:                            Well, you’ve done it again. You’ve wasted another, I don’t know, 15 minutes or so listening to the Land Academy show.

Steven Butala:                   Join us next time for the episode called Already Successful Members Succeed.

Jill DeWit:                            And we answer your questions posted on our online community, landinvestors.com. It’s free.

Steven Butala:                   You’re not alone in your real estate ambition. Hey, how was that for a rant?

Jill DeWit:                            It was a little bit of a rant. That’s what I was just going to say. I’m like, “Hmm. He had to get something out.” Did it work?

Steven Butala:                   The most popular-

Jill DeWit:                            Is it off your chest?

Steven Butala:                   Yeah.

Jill DeWit:                            Okay. Good.

Steven Butala:                   No. It’s never really gone.

Jill DeWit:                            Oh.

Steven Butala:                   The most popular radios shows, by leaps and bounds, are just guys ranting.

Jill DeWit:                            Well-

Steven Butala:                   They’re just frustrated as heck with the way the world is.

Jill DeWit:                            Well, hold on a moment.

Steven Butala:                   And I think that’s okay.

Jill DeWit:                            And I’m okay with that. But what I was going to say, too, when you started to say the most popular shows, I thought you were going to say the most popular shows are people, let’s just say experienced. I don’t … I’m not going to use age numbers here, because I’m a girl. I’m not a fan of age. So-

Steven Butala:                   Oh, shoot. We’re laughing. Don’t laugh.

Jill DeWit:                            That’s right. But you know, and they’ve been there. That sings to me. You know, I just wrote a blog last week about our online community and there’s I can’t remember how many thousands of posts in there. I’m like with the experience that we bring to the table, now, with the thousands of people that are in our online community and the thousands more post-

Steven Butala:                   Yeah.

Jill DeWit:                            … you can pretty darn bet that whatever situation you’re experience or what question you have, it’s probably in there.

Steven Butala:                   Yeah. That’s right. It’s proven.

Jill DeWit:                            It is proven.

Steven Butala:                   And it’s not just us that …

Jill DeWit:                            That’s-

Steven Butala:                   Look when we started this thing, Land Academy thing, there’s been several times where I’m like, “You know what?” Because we’d get comments like, “Come on, you guys. This can’t work.”

Jill DeWit:                            Right.

Steven Butala:                   And my initial reaction, Land Academy would never exist if Jill wasn’t involved.

Jill DeWit:                            Thank you.

Steven Butala:                   And even like last week, I don’t-

Jill DeWit:                            Thank you.

Steven Butala:                   I don’t need to do this. My whole reaction to anybody’s opinion is, “You know what? That’s fine. Don’t join. Don’t listen.”

Jill DeWit:                            I’m still cool.

Steven Butala:                   In fact, you know what?

Jill DeWit:                            If it doesn’t sing to you-

Steven Butala:                   Why create what’s just happened with this house in Arizona?

Jill DeWit:                            Yeah.

Steven Butala:                   Don’t buy it then.

Jill DeWit:                            Yeah, I don’t care. Doesn’t bother me. I’m not going to talk you into it.

Steven Butala:                   I’m not going to sit here and sell you something.

Jill DeWit:                            No.

Steven Butala:                   If you don’t see the value in this, then you don’t see the value in this. That’s fine.

Jill DeWit:                            And that’s okay.

Steven Butala:                   Hundreds and hundreds of other people are making, literally, making fortunes.

Jill DeWit:                            Right.

Steven Butala:                   Doing this in our membership.

Jill DeWit:                            Yep.

Steven Butala:                   They’re asking us for more products every single day.

Jill DeWit:                            Yep.

Steven Butala:                   To make it easier and they’re willing to pay. So I feel proud.

Jill DeWit:                            Me, too.

Steven Butala:                   And proven.

Jill DeWit:                            Me, too. Wherever you are listening or watching, please 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.

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.

Finance Friday with Steven, Jill & Justin (LA 938)

Finance Friday with Steven, Jill & Justin (LA 938)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talk about, talk with our guest Justin [inaudible 00:00:17] just like we do on every Friday about the transactions we’re doing this week. Welcome, Justin.

Justin:                                   Hey. How’s it going.

Steven Butala:                   Good. What’s been going on this week?

Justin:                                   Oh man. It’s been a busy week. We had the live event last weekend and great turnout there. It was, y’all came and spoke at it a little bit. To resume, we had some complications with the wireless but it was great feedback. 33 people total so it’s huge, good time.

Steven Butala:                   Awesome.

Jill DeWit:                            What was the reason that people were there? Were they, did they need to get over a hurdle?

Justin:                                   Yeah. It was a big mix. We had some people that had just kind of read our E book and y’all’s E book and then just didn’t really know what to do next for land investing and happened to reach out as we were getting this ready. Two people that were wanting to get to talk to us, 35 year land appraiser and sub divider. We had the [inaudible 00:01:07] there, they came, father and son. Trevor, we all know Trevor. So his dad came in and they spent the morning with us and went over some case studies on appraising and the sub dividing.

Justin:                                   So it was a good mix. And that was one of the things of putting that together, was the worry of, do you add value for every person there? You don’t wanna speak too high over people’s heads to not having enough information. But it turned out really, really good. We got a bunch of people over the analysis paralysis that they have when they get, when you’re looking at all the data and you’re going, “What do I do with this?” And we got them over that and how to pick counties and states really fast and kind of, one of the things that I took back from that, it was like, ‘Hey, I price for margin.” And we’ve always talked about how I shop, is just margin, margin. This is what I wanna pay for acre and this is what I’m gonna offer. I want it to sell so I don’t wanna offer and I worry about the spread there.

Justin:                                   So went through and did the whole country yesterday morning and for margin and priced every county in the whole country to see what margins were there. 115 counties in the country matched the margins I want and so that’s something I’m starting to work through. I’ve mailed three counties yesterday. I’ve got another two on the desktop that I’m finalizing the pricing on. I’ll probably get those out today or tomorrow.

Steven Butala:                   So what data did you make those decisions based on?

Justin:                                   Just the active market that’s out there. So say if somebody wants to buy something, they wanna sell 15 hundred dollar an acre property. You’re gonna offer a lot less than that, 25, 30, 35 percent of that. So the math is really easy if you take 15 hundred bucks an acre times 20 acres is 30 thousand dollars. So you just shop everything is 20 acre to 20 acre, under 30 thousand dollars by state and then it spits out property. And then you just look at the counties and say, “Okay, this county has potential.” And go from there. It’s super rudimentary. It’s not super scientific. But it gets you a list, gives you a direction to start working in.

Steven Butala:                   It’ll work.

Justin:                                   Yeah.

Steven Butala:                   That’s step one and then it drills you down to the next step.

Justin:                                   Then you pick, so say, I think we, I can’t even pronounce some of the counties I shopped yesterday but I’ll say the state ’cause I don’t mind doing that. It’s already out in the mail so you can’t beat me to it. And it’s gonna be next Friday. But Maine, have you ever thought about mailing Maine?

Steven Butala:                   Yeah, I did mail Maine and I had a great success.

Justin:                                   Did you? So we found three counties that work for us there that thin our margins. So we mailed all three of those. One super big mailers, but again, just getting mail in a box and start spreading it out.

Steven Butala:                   That’s great.

Justin:                                   But that was the cool thing about this is that some people had been spending two and three weeks trying to get their data together and their mailers together when they realized that we did it in an hour and a half. We went from the crowd picking a state to us mailing a county in an hour and a half.

Steven Butala:                   That’s fantastic.

Jill DeWit:                            That’s very tricky. That’s like what we did at our first one to show, it’s just to get you over that hump. [inaudible 00:03:42] you’ll learn it and you’re gonna make mistakes, who cares?

Justin:                                   Oh yeah, and that’s what we told them. We said, “You’re gonna be he difference of us doing it this way and you’ve been doing it is probably 10 dollars an acre.” So at 20 dollars an acre, you’re talking a 200 dollar difference. So what does that really matter? You’re gonna negotiate that anyways. So just get it in the mail, get it out. So it’s definitely a neat experience. And it seemed like everybody had a great time. We fed them well, they had drinks at the end of the night, played some [inaudible 00:04:06]. So that was cool.

Jill DeWit:                            Awesome. Hey, since we’re talking about mail, can I throw something in there right now?

Steven Butala:                   Sure.

Jill DeWit:                            So we’ve been talking about this all week. Today is the last day to save 10 percent for everyone across the board on all our orders through OfferstoOwners.com. So if you’ve already used the code, even if you’ve already used the code, I have a note here from my team, you can use it again. So if you mail on Monday, send mail on Friday, I don’t care. OfferstoOwners.com and use the code March Mail at checkout.

Jill DeWit:                            So it’s already cheap, now it just got a little bit cheaper.

Justin:                                   I wish I had known this yesterday. I missed that code. March Mail.

Jill DeWit:                            March Mail. Use March Mail.

Justin:                                   Awesome.

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:                            Kent Johnson asks, “Greetings, folks. I’ve been listening to the Land Academy podcast for a while in addition to another land investment podcast. I decided to take the plunge and join Land Academy. In the past, I have flipped a few houses and currently own some rentals but I’m really intrigued by this investment model. I’m looking forward to learning from and along with you guys.” Kent. So it wasn’t really a question, it was just kind of a hi.

Steven Butala:                   Well Mike and I had essentially put this in here. My question to both you guys is, what, I know you’re coming from different places both of you. What do you think, somebody’s already in the real estate business, he’s already got some rentals, he knows some basic stuff, what advice would you give somebody like Kent?

Justin:                                   I’d say, yes, go ahead Jill.

Jill DeWit:                            I know what I’d do because I talk to these guys all the time. I say, “Well congratulations. You’ve dealt with the hardest, most problematic properties. You are going to love this. This is gonna be a breath of fresh air and you might not go back and you might never swing a hammer again.” And I’ve had many, many members that said, “Yep, you’re right. Done.” And they feed deals to their friends and wish them well.

Steven Butala:                   What do you think, Justin?

Justin:                                   I would just say yes, it is that simple. It is that easy. It’s counter intuitive to what they believe. Because with houses, you’re so much more involved. You’re trying to get right on repairs and things like this. With land, you don’t have that. You put the mail out, the price comes back and you sell it quick. This price for the velocity of money. I know y’all talked about that last week. Velocity of money is one of my favorite terms just because land, it’s all about how quick can you turn it and keep snowballing it?

Jill DeWit:                            Exactly.

Steven Butala:                   Today’s topic, Finance Friday with me Steven, Jill, and Justin [inaudible 00:06:43]. This is the meat of the show. Last time we talked, speaking of houses, Justin, you’re closing on a couple of them and it seemed like they were kind of the last ones that you were doing for the moment at least.

Jill DeWit:                            How’s that going?

Justin:                                   Yeah, so appraisal was two days ago. Appraiser didn’t see anything they would see was wrong. Get that back. But that one closes, I want to post on the 19th, that’s the last one for a little while. We actually put an offer on one yesterday as well which, it’s a wholesale deal so it’s already sold if it goes through. So that’s kind of one of those type deals. But yeah, it’s last one for a little while. I wanna put that money towards land for a little bit. And we tied up quite a bit of funds between Plum and the houses, it backed up quite a bit of our funds and it kind of slowed down the land business. So it’s time to ramp that back up and so we’ll get back active in that. Because you can’t beat returns that you get on land. It’s hard to justify it. So I spent three months playing in houses and back on land now.

Jill DeWit:                            Isn’t it funny? Well you know, and like you just said, we had one, I’m like, “Doggonit, we’re not gonna do retail again.” We had a beautiful one land in our lap that it took us, it’s now closing right now. I’m like, “Thank goodness.” The wholesale ones, I can flip really, really fast. The wholesale houses like you do. We have the buyers lined up, they wanna flip it, they’re ready to go, they have the cash. But this retial one, we won’t do that again.

Steven Butala:                   It’s a fantastic return.

Jill DeWit:                            It is.

Steven Butala:                   It’s an amazing ROI and there’s no real work at all because we had the BOG handle it. It just took a long time.

Justin:                                   It’s the speed of the deal. And then you get those things out there. I mean on one house, it wasn’t worth our time. After the market stalled in the winter. The second house, it actually was worth it. It’s gonna, at the end of the day, after everything’s said and done, I think it makes 30, 35 thousand bucks. So it’s not a bad turn. It pays for the time that we spent. I had two months in it. It’s not a bad, but what would that money have done in land? The same amount of money. So that’s the big question is, you put 110 thousand dollars into a house or 110 in the land, what do you get a better return at?

Steven Butala:                   We’re doing both right now and I’m recording House Academy so when I look at the mailer, I’m basing the Mesa, Arizona, that’s the whole, start to finish the Mesa mailer. What we purchase and what we sold, we’re selling the last house onto that mailer.

Justin:                                   Nice.

Steven Butala:                   So it may not be the last one. And when you look at the return on them, it’s just actually truly amazing. We’re so spoiled, we’re land people. We’re used to buying a piece of property in different state, who cares really what it looks like? They just are in it so fast, it’s so easy. To each his own.

Jill DeWit:                            That’s [inaudible 00:09:23]. He’s gonna share our spreadsheet showing all our calls when they came in and the ones that are still coming in. It’s really cool.

Justin:                                   I’ve had quite a few people actually reach out to me about House Academy to say, “Hey, when is it coming?” I had a consulting call yesterday about that and I said, “They’re recording it, so it’s coming soon enough.”

Jill DeWit:                            It’s coming.

Steven Butala:                   It’s just a pleasure to record because it’s so organized. I had it in my head from the beginning about, and then we’ve got everything recorded so we have all the-

Jill DeWit:                            Calls.

Steven Butala:                   All the calls came in where they’re recorded and I can point to it. It’s really well organized.

Justin:                                   So imagine your technology difference, your knowledge base from when you shot the first Land Academy one for the cash flow for land to what you know now. Because I’ve seen y’all studio firsthand so I know the state of art features that you’ve had and I’m sure it’s developed as it got into this point. So I just imagine it goes a lot easier now.

Jill DeWit:                            We talked about that last Thursday or a week ago Thursday on the second call, the member call. They were joking about, “We miss seeing the gardeners in the background.”

Justin:                                   Was it a fly that was on that thing too that would just fly around on your, I feel like I remember when we’d go to different-

Jill DeWit:                            It’s like a bird.

Justin:                                   Is it a bird? There was like a fly or bird that used to fly around outside.

Jill DeWit:                            Yeah. It was hilarious.

Steven Butala:                   I recorded that on a, I still kept the computer just for nostalgia but I found a 300 dollar office computer from a former life and it had separate cameras and it was all, the audio was all wrong and it was just funny.

Justin:                                   But it worked.

Jill DeWit:                            It did.

Justin:                                   And that’s the idea behind all this. Sometimes you just have to try, whatever it is, whether it’s a piece of mail or it’s a letter or tweak to your business. If you don’t try, you’re never gonna know. And then three years later, here you are.

Jill DeWit:                            Amazing, here we are.

Steven Butala:                   All right, so here we are today’s Finance Friday to talk about the deals that you guys are funding, each of you. Justin go first please.

Justin:                                   We had some interesting stuff come in. Florida, just kind of the same gambit of states we’ve been in. We’ve had some stuff that sold, ran into some issues and title on some, the title company missed some stuff on the first buy, then on the sale. The next title company didn’t, cost us a bit of money. But overall, we’ve got some stuff coming in. East coast still, it’s been real hot east of the Mississippi and I’m not gonna go into too many specifics on the states but pretty hot on that side. And then a couple deals on the west side of the Mississippi. But it’s good to see some people reaching out with some deals all over the country.

Steven Butala:                   Did you guys talk about deal funding at the live event?

Justin:                                   We did. I didn’t actually do a commercial with it just because everybody, they see us on Finance Friday, they hear about it on casual Friday, our podcast, and some of those guys actually started and it was cool, they brought their wives with them. They actually started from a consulting call with us and then now they’re 50 deals in their first year, about 50 deals later and one of their wives actually know, “Hey, this actually works. Come meet the people that we worked with on it.”

Justin:                                   And as we tell them, we didn’t teach them the education, we just kind of helped you along where you got stuck. And that’s kind of what our whole mantra is. Y’all teach education better than us, but we can help you where you get stuck and push you through.

Justin:                                   And there was a range of people that shopped different places there. The farthest traveled was from LA, 11 hundred miles. We had from Wisconsin attend. Phoenix, Arizona and then the gambit of Texas. It was a huge crew and everybody shopped different type properties and were different areas. And so it was neat to see that.

Jill DeWit:                            Super cool.

Justin:                                   But on the finance side for us with Plum right now, real heavy on the east side of the United States and a few deals popping up on the West side. How about you Jill?

Jill DeWit:                            That’s what I’m doing. I’m doing a lot of, I have a lot of Florida, Georgia, Oregon one. I had one, it was so funny, I was talking to a guy the other day who is a flipper who’s up in Oregon. And we’re talking about properties and I was kind of telling him about the deal funding and one that came in and next thing, he’s like, “What are you selling it for?” I’m like, “Hold on a moment.” He’s like, I told him, it was actually totally fine. I even gave him the sub division because I know right where that is. I’m like, “It’s a big plot.”

Jill DeWit:                            And this house, it’s like, it’s in Oregon, I’ll say that. We have it under contract for 13 thousand dollars and the house right next to it, it’s totally a beautiful sub division, the house next door is priced on realtor for 226, valued at 226. There’s not a lot available on that area. It’s a perfect little thing. So he’s like, he wanted to pick it up. I said, “Wait a minute, I’m gonna market at least double. How about I just show you how to do this? Sit tight, it’s coming.” Or just get what we have right now.

Jill DeWit:                            And then I had one, it was a bummer, it was a person that you know very well too that we were working on a Georgia property. We went all the way down through it, we pulled the info report, we’ve all looked at it, this property, together-

Steven Butala:                   All signed off on it.

Jill DeWit:                            We all signed off on it. We had Mike Marshall involved in it. And at the very bitter end, the manager and I both had to say it’s not worth it because the setbacks to make it buildable pushed the house so far back on the property up against a commercial thing behind it, they were like, “Shucks, this is gonna make it. It’s gonna have to be the right buyer and the right builder.” And we looked at how long we could possibly be staring at this property in our inventory together that I kind of waited for him to call it and he said, “Yeah, let’s pass.” I said, “Thank you. I think that’s a good decision.”

Jill DeWit:                            And good thing we have all these tools. I’m glad that we, we both said, “Hey, it was money well spent.” Paying for the info report, going through the whole thing because not getting stuck with it was so much better.

Justin:                                   That’s a great thing to see. And usually we’ll take [inaudible 00:15:11] take the polygon, throw that on Google Earth and look at it. If it’s in an HOA and I know they’re gonna have setbacks, and you see houses all around it, you can kind of measure back with the houses and you’ll see a consistent setback and you start laying it out. And then when you throw topography on top of that and you have it in 3D, those are things that we look at really quickly. And some people get so excited, they skip that step when they bring the deals to us. And they’re like, “Oh yeah, I got this deal. Look at it this way.” And then you look at it and you’re like, “That one doesn’t necessarily, look at where you’re gonna be. So we’re gonna have to add this fill in here to get it there,” and they’re mad because all the numbers work. Well the numbers look great, but the buildability at the end doesn’t.

Jill DeWit:                            You go all the way through a soils report and get the point where they had to test what could handle, this part of the property could handle structure and this part couldn’t.

Justin:                                   Oh wow.

Jill DeWit:                            It’s like, we went all the way down.

Steven Butala:                   Buildability’s a huge, huge issue. And people, the people that I’ve spoken with that submit funding deals and they look like great deals, but it’s like, and they find out themselves it’s not buildable and they still wanna do the deal. And it’s like, it’s a hard conversation to have.

Justin:                                   That’s the hardest part about the whole funding thing for me is that tough conversation because you have it so many times and then you know that it’s affecting them because they reach out to you and they’re like, “Hey, I wanna be somebody that at least gets you one good deal because I know I’ve sent you all these bad deals.” And you feel bad about that. You know, I’ve got a conscience. I’m like, “Yeah, hey, don’t worry about it.” I always tell them, “There’s always somebody that’s been worse than you.” But it’s part of it. We try to mitigate the risk for all of us involved.

Jill DeWit:                            Exactly.

Steven Butala:                   We don’t check for buildability on a 40 acre property because it’s five thousand dollars and that’s got access anywhere.

Justin:                                   You’re exactly right. And that’s what I tell a lot of people is, “Hey, that 20 acre’s great but when we get down to this five acre or 1.3 acre in the middle of the subdivision, then you have to start getting a little bit more honed in on what you need and that’s where info reports comes in.

Jill DeWit:                            Exactly.

Steven Butala:                   So what’s up for next week, both of you?

Justin:                                   Spring break here. So we’ve got the kids out but we’ve got a couple one on one consulting things that people are getting their first mailers, getting them out, and then running through that. And then we’re gonna do their funding. Like we told y’all originally, we had that giveaway in our tenth episode. She’s bought eight properties so far, they’re coming back, she’ll sell those and she’s gonna do her first mailer and buy with that money. So how to go from zero to land investor really quickly. And so we’re gonna walk through that. So we’ll have a series on that as it comes up. But that’s gonna be a fun part of that. So that starts Friday, we do that Friday.

Steven Butala:                   Excellent.

Jill DeWit:                            That is awesome. I’m just loving right now. Just before this call, I pulled up my spreadsheet with my team and I’m looking at the deals and I’m seeing two of them, they say manager found issue with hood one, being sent back. And another one manager found this issue, something, I’m like, “This is great.” Everybody’s now doing what they’re supposed to be doing and they’re only calling me at the end. And I have to tell you, i have it down to a system with my team. So today, Friday, at noon, is a deadline. I need an email to me by noon telling me what deals are gonna close next week and how much money needs to be allocated so I can make sure it’s all where it needs to be. We have set days that I’m available for signings, days I’m not available for signings, like recording and things. So it’s like, yeah, we have it down to a science. Now it’s like, “Ah, I can breathe.” And now I’m getting, at first, I’m overwhelmed with all the deals coming in. It was so cool. Now I can sit back and go, “All right, come on guys, I’m ready now. Send them my way.”

Steven Butala:                   Systems are beautiful.

Jill DeWit:                            Everybody’s trained and figured it out.

Steven Butala:                   The whole week we already recorded the shows for all this week that’s all about staying on track with systems and inspiration on how to delegate and all that stuff.

Jill DeWit:                            Staying motivated.

Steven Butala:                   It was fun. It was nice to record.

Justin:                                   Yeah, I bet.

Jill DeWit:                            ‘Cause I’m sure you talked about that. I hope, did you guys talk about that actually at your event? Because that comes up. People are like, “Yeah this is great, but god, just getting started.”

Justin:                                   We actually did and we actually had Beth, our transaction coordinator, she was there. She actually spoke negotiations. Because we found a lot of our clients are managers or having problems with negotiating with people that actually have a little bit of negotiating training. So we put in some basic negotiating but then she’s there to answer the questions. How she does that is a system, transaction coordinator takes it from first escrow through the seller of the second one. And so what that looks like and how she does that, so she was able to answer some questions for some people. And as you know, we have people in this group to say, “Hey, I’ve got money, I just want somebody to do it. I don’t mind mailing, I’ll just do everything else.” And that’s where she fits into that. So it works out pretty well.

Jill DeWit:                            Cool.

Steven Butala:                   Awesome. Well you’ve done it again, you spent another 15 or 20 minutes listening to the Land Academy Show. Join us next time for another interesting episode.

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

Steven Butala:                   You are not alone in your real estate ambition. Justin, it’s always great to talk to you.

Justin:                                   Good talking to y’all as well.

Steven Butala:                   Assuming you need more deal flow, let us know where we can find you on the internet.

Justin:                                   Www.Pluminvestmentgroup.com or you can reach out to any of our social media pages, Facebook, Instagram. You can find us on all those. And then casual Fridays are [inaudible 00:20:09] podcast, Monday, Wednesday and Friday.

Jill DeWit:                            Awesome. Thank you. Hey, wherever you’re watching, wherever you’re listening, please rate us there. We are Steve and Jill.

Steven Butala:                   And Justin. Information.

Jill DeWit:                            Inspiration.

Steven Butala:                   To buy undervalued properties. Thanks, man.

Justin:                                   See y’all. I missed the [inaudible 00:20:26] sorry Jill.

Jill DeWit:                            All good.

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.

Learning from the Land Investors Community (LA 937)

Learning from the Land Investors Community (LA 937)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            I’m Jill DeWit broadcasting from sunny southern California.

Steven Butala:                   Today, Jill and I talk about learning from the LandInvestors.com online community.

Jill DeWit:                            I learn something sometimes from our community. I love it.

Steven Butala:                   Every day I go in there.

Jill DeWit:                            Yep.

Steven Butala:                   Every week I go in there, probably twice a week, maybe three times a week, for sure. One time a week to spend a ton of time pulling the questions on for this show, for all these shows. Man, it’s just … Jill can attest to this. These people, it’s an amazing tool.

Jill DeWit:                            I know. It’s the greatest thing.

Steven Butala:                   It is truly an amazing free tool.

Jill DeWit:                            Yep. We’ll talk more about that here. I have a lot to say.

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

Jill DeWit:                            Steven Kisch asked, “Hello. For those that use either Congress Reality, $299 list free, or BrokerDirectAnalyst.com, as low as $85 specialist fee, what is the commission structure you are using in listing to get deals done for selling land? How low can you go and still attract buyers, agents, or is that even an issue? Thanks, Steve.”

Steven Butala:                   Let me give some background real quick before … Another community member is going to answer the question. When you go to sell a piece of real estate, in the past, you have to hire a real estate agent or a lot of people thought you had to hire a real estate agent, and they would charge 3 to 6% of the sale price depending on the terms that you sign.

Jill DeWit:                            Right.

Steven Butala:                   There’s thing called fixed price MLS that came about recently because of the internet.

Jill DeWit:                            That was the only way that … What he’s saying is that hiring the agent used to be the only way to get it in the MLS.

Steven Butala:                   Yes. Now, you can do this thing where there’s this fixed price MLS, these services that are online.

Jill DeWit:                            Right.

Steven Butala:                   They’re tech people that happen to have a real estate license and can legally have access to their MLS-

Jill DeWit:                            And put properties in there for you.

Steven Butala:                   They’ll take all your information to 50, 80 bucks, a 100 bucks, 300 bucks, some number like that, and they’re not going to give you any services at all. They’re just going to post it on the MLS, so other realtors can see it, because they have buyers, and sell them the property.

Jill DeWit:                            Right.

Steven Butala:                   Go ahead.

Jill DeWit:                            It’s just a listing service.

Steven Butala:                   His question is, “That’s great. So …”

Jill DeWit:                            “I don’t have an agent with me. That’s not how I’m getting it in the MLS.”

Steven Butala:                   Well, his question is, “That’s great. That takes care one agent in the deal, the listing agent.” You pay him $50, or whatever you negotiate, and nothing else.

Jill DeWit:                            Right.

Steven Butala:                   “What about the other person on the other side that’s representing him? What do you do?”

Jill DeWit:                            “Is it still going to attract people? Because I’ve made it clear that I’m not using agents here, is the thing,” and he’s right. One of our members, Christian … Hello, Christian. Christian wrote and answered him, “Steven, you can put whatever you want in that section, such as 3% or a flat commission, like $1,000. Or you can simply put $1. The buyer’s agent will likely call you up and ask you what the $1 is all about. At that point, you could explain that you expect the buyer to cover their commission, that it won’t be coming out of your pocket, and that’s if you choose. MLS requires something to be in the commission field, and just putting $1 in there is sufficient.” That’s the same thing that we’ve done.

Jill DeWit:                            Usually that’s what I do. I like the $1, or a flat, or like a real low percentage just to get the ball rolling. And you can update it depending on the feedback that you’re getting. Also, too, it depends on the property price. If I’m doing a $10,000 couple acres somewhere property, most agents aren’t going to be involved, anyway. I just need to get it out there somewhere people see it, so putting a dollar in there is just so I can get into traffic. But if it’s a … I don’t know … a $300,000, $400,000 commercial property, who’s usually involved in those are usually our agents and brokers involved, so I’m going to put something in there maybe a little differently.

Steven Butala:                   That’s the academic version. Here’s how it really works. You list it on the MLS for 300 bucks for six months, and they do all the work for you, the listing network, for the most part. Two types of people call you. People that want to buy it. People that are represented by a real estate agent. And the real estate agent’s going to say … If you don’t put in 3% of the purchase price, they’re going to say some version of, “What the hell? This is how I make my living. You can’t just pay me $1,000 [inaudible 00:04:29]” So, academically, it sounds great to put $1 in there, or $1,000, but in fact-

Jill DeWit:                            You don’t want to piss them off.

Steven Butala:                   Yeah. In reality, they’re going to pay them 3%, and in some land deals, you’re going to pay them 10%. If they’re huge deals, you can actually stick your middle finger up and say, “I’m going to pay a half a percent.” But they’re stuck, because they have to clear it with their broker. Their broker’s never … This is all old skill, right out of 1968 methodology. It’s all propped up like a house of cards. Or if you’re lucky … and this is what really happens a lot of time, because the MLS itself is so prevalent on the internet, like on places like Realtor.com … the buyer will contact that listing broker directly, the guy that you paid $300 to. If he’s a cool guy, like the ones that we work with, he’s going to say, “Hey. Joe Smith called me from Seattle, and …”

Jill DeWit:                            “Here you go.”

Steven Butala:                   Yep. “… here’s his information. He wants to buy the property.” Then you close the deal yourself.

Jill DeWit:                            That’s how it goes. That’s exactly how it goes.

Steven Butala:                   And you end up paying nothing.

Jill DeWit:                            Usually, you’re paying for that service. They’re just kind of putting it in there and passing it through to you.

Steven Butala:                   That’s how it’s supposed to work. In the future, that’s how the whole real estate environment will work. Real estate agents will go away.

Jill DeWit:                            Yep.

Steven Butala:                   Thank God.

Jill DeWit:                            I know.

Steven Butala:                   Today’s topic, Learning From the LandInvestors.com Online Community. This is the meat of the show. I love LandInvestors.com.

Jill DeWit:                            Me, too.

Steven Butala:                   Here’s the story of Land Investors very briefly. Jill and I started Land Academy, and almost immediately, we had a flood of requests for people asking us, “Well, who else is in the community? Can I contact this person?” And all these questions and all this stuff.

Jill DeWit:                            Like, “I have a little thing I want to ask about this, or that, or this, or that.”

Steven Butala:                   So Jill said, “I’m going on vacation. Can you do something about this?”

Jill DeWit:                            I said, “We needed a community.”

Steven Butala:                   This is literally what happened. I spent 36 hours personally developing the Land Investors website, and it’s to this day … Lots of tech people, our staff now maintain it, and it’s … I’m taking a lot more credit than I should. But it’s still the single best way to get questions answered and to really interact with our community, because that’s what this is all about.

Jill DeWit:                            Exactly.

Steven Butala:                   This is a community. People ask us, “What’s different about you guys than other people?” We have a community.

Jill DeWit:                            Yeah, support.

Steven Butala:                   You have full access to the community.

Jill DeWit:                            Support, support, support. Yeah.

Steven Butala:                   I know you have some stuff to say.

Jill DeWit:                            Included support. That’s huge. I know people that have said that’s what made it for them. It’s great, “Oh, great.” I mean, like, “Oh, great. I know how to do this. I bought the book. If I don’t have the tools, I don’t have the support, can’t get these questions answered,” for a lot of people, that’s it. That will sink the ship. And we do all of that. Yeah. What I was going to say, too, is I love … Our community is fantastic, and that should be, whether you’re a member or not, it’s free to you to use. Go get an account. Get in there. That should be your number one place at 3:00 AM to go get questions.

Steven Butala:                   Yep.

Jill DeWit:                            Heck, there might be somebody on there at 3:00 AM with you, by the way. There’s several people, I am sure, that are on there with you, because we have people all over the world in our community, so you can get answers pretty fast in there. Also, it’s got, what, now going on four years of knowledge in there, so you can search and probably find the answer to whatever it is that you’re faced with right now, so use it.

Jill DeWit:                            My favorite way to describe this is our community, number one, they are you, they were you, and they will be you. I just came up with that. I think it’s so cool.

Steven Butala:                   I love it. Totally true.

Jill DeWit:                            “They are you,” means it’s your community. It’s your people. Where else can you go to somebody that knows exactly what you’re talking about? pricing offers, you don’t have to explain it to somebody. You can say, “Hey, what did you think about this? I have a question about that. Has any of you ever had this situation?” They understand it. They’re right there doing it right alongside you. How great is that?

Jill DeWit:                            “They were you,” because maybe you’re dealing with something that’s a little more advanced. Their business is a little bit bigger. They’ve done more transactions. You know what? They were you one time. They had their first deal, too, once upon a time. We’ve all been there on deal one, every single one of us. So just because you’re on deal one doesn’t mean you’re alone. So ask some of those questions, and they remember being that person, and they will happily help you.

Jill DeWit:                            Then, “They will be you,” meaning someday, you’re going to be that guy. So you could look at it two ways like you’re going to be that guy saying, “I remember when I was on my first deal, and someone helped me. I’m going to help you, and get you there.” So that’s one way to look at that. The other thing is, you’re looking at these people like, “Holy cow. Look at the deals these guys are doing, and what they’re talking about, and how they’re arranging this. And their business has grown, and all this good stuff.”

Steven Butala:                   It’s motivational.

Jill DeWit:                            Like, “That will be me. I’m going to follow that guy. I’m going to connect with him, or just this group,” or whatever. That is our group. That’s it.

Steven Butala:                   Imagine doing this alone. I mean, what else … Can you imagine becoming a medical doctor alone? No. There’s all kinds of programs and internships that are required before you can actually practice by yourself. In any real job situation that matters, you’ve got all kinds of training. Then for their whole career, you’re sitting next to somebody that’s doing a different version or the same version you are, so you can collaborate. You don’t want to hold yourself up and just do this alone without utilizing the resources that are available to you, especially now the way that the internet is.

Steven Butala:                   This is Organization Week. We’re wrapping up Organization/Motivation Week. LandInvestors.com, I don’t care where you are in your career, is an unbelievable resource. We use it, now, to partnership deals with people. I think it’s safe to say Jill and I are at our rounding out the curve of our real estate investing career. We do a lot of big deals a month, and we’re finding that it’s easier and more fun for us to fund other people’s deals as partners, than to actually go out and source the deals ourselves, although we do both.

Jill DeWit:                            I love being the bank.

Steven Butala:                   We still use the resources that we’ve created. All these resources that we created, we were already doing internally. We just web-enabled them, so that everyone can use them.

Jill DeWit:                            Right. Stuff we use, too.

Steven Butala:                   So whether you’re brand new or you’re on your almost 16,000th deal like we are …

Jill DeWit:                            You will get something out of it.

Steven Butala:                   … it’s a great resource. Yeah.

Jill DeWit:                            Absolutely get something out of it. Even if you’re not really … We have people that are in our community just being money people. They know who we are. They know what we’re all about. They know how smart our community is. They understand how we’re getting our deals, and they just want to be the bank. I know that they’re in our community. They are just saying, “Hey, I don’t want to send any mail, but thank you. I know your concept, and I know how smart you guys are.” I’ve had so many people reach out to me from other similar, but other communities, or just even other buyers at a certain level, wholesale buyers, saying, “I always know want I’m dealing with a Land Academy person. Man, there’s a difference.” I’m like, “Thank you very much. I appreciate that.”

Steven Butala:                   Yeah. All set.

Jill DeWit:                            That’s it.

Steven Butala:                   Yeah. Well, you’ve done it again. You’ve spent another 15 minutes, or so, listening to The Land Academy Show. Join us next time for Finance Friday, with me, Steven, Jill, and our guest, Justin.

Jill DeWit:                            Justin Sliva will be here. That’s awesome. And we answer your questions posted on our online community, LandInvestors.com. It’s free.

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

Jill DeWit:                            I’m going to write a blog on this, because I think I’m next to do the blog for us.

Steven Butala:                   Yeah.

Jill DeWit:                            I’m going to really … This will be a good one. I can get into a little more detail, too, about what we just talked about, because the value of this community is amazing. I can’t wait … We’re about to do it again-

Steven Butala:                   I’m proud of it.

Jill DeWit:                            … with House Academy, so sit tight. If you’re a house person, you’re here just kind of listening along. Just say, “All right, guys. I get what you’re doing. I want to do it for houses,” or, “I’m a flipper. That’s really in my soul, but I need to buy it better,” and you want to know what that is, sit tight. It’s coming, and we’ll have our own community for that, too.

Steven Butala:                   Yeah.

Jill DeWit:                            Wherever you are watching or 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.

Calendar Based Schedules (LA 936)

Calendar Based Schedules (LA 936)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talk about our calendar-based scheduling concept.

Jill DeWit:                            I have to say something funny.

Steven Butala:                   Yeah?

Jill DeWit:                            Somebody, I don’t know if it was on a member call or on our online community or what, but they put in a thing, “Hi, this is so and so from sunny such and such, such and such.” I’m like, “Oh, that was very funny.”

Steven Butala:                   Making fun of us.

Jill DeWit:                            Yeah, totally. It was really cute. I’m like, “I got that, and I appreciate that.” That made me happy.

Steven Butala:                   Along those lines somebody-

Jill DeWit:                            I thought it was cool.

Steven Butala:                   Recently said, “This is the meat of the show.”

Jill DeWit:                            Oh, that’s great.

Steven Butala:                   That’s what they said to me. “This is the meat of what I’m saying,” or something.

Jill DeWit:                            “This is the meat of the call.” I love it. Hey before we get to the question, I would like to make one more announcement today. Yay. I said something about it on Monday and I’m telling you today on Wednesday, don’t forget 10% off is happening right now until Friday off all of your orders with Offers 2 Owners, which is our direct mail company. 10% off is a pretty big deal. I mean and it’s really cheap. It’s already cheap going into it. Take 10% off of it, it’s awesome.

Jill DeWit:                            So how do you do it? Go to Offers2Owners.com and get the details there. Thank you.

Steven Butala:                   That is cheap.

Jill DeWit:                            It is cheap.

Steven Butala:                   We’re already like at the bottom.

Jill DeWit:                            We’re already cheap. I know.

Steven Butala:                   If you’re sending out 1500 units a month, which is what I recommend. It’s the cheapest place on the planet, plus because we don’t have a scaling system like every other printer in the world, 1500 is … nevermind.

Jill DeWit:                            Exactly.

Steven Butala:                   It’s a good deal.

Jill DeWit:                            Thank you.

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

Jill DeWit:                            Patricia and Tom, hello. They say, “Hello everyone. We are in the process of selling 78 acres in-” can I say the county?

Steven Butala:                   Sure.

Jill DeWit:                            Okay, [“Karin 00:01:57] County, California, and the buyer would like to go through a title company. We decided to finance this deal, but none of the title companies want to insure a land contract-”

Steven Butala:                   This is very, very typical.

Jill DeWit:                            “The only way to go-”

Steven Butala:                   Very typical.

Jill DeWit:                            “Is a Deed of Trust. And, Mr. Steve Butala is always saying that land contract is the only option. Please advise.” Patricia, with land addiction. And I love this because one of our members, Kevin Farrell who’s a moderator on our site, already piped in and wrote an awesome response. Kevin said, “Patricia, when we do a land contract we do not require the contract. We hold the Deed to the property until all payments are completed. When a Deed of Trust is used, it will be recorded along with the contract. If the buyer stops making payments, there is a difference between the two. With the land contract you simply re-list the property and sell it to someone else. With a Deed of Trust, you have to go through a formal foreclosure process and that usually costs $2,000.00-$3,000.00 and takes time.”

Steven Butala:                   Six months.

Jill DeWit:                            Right. “My opinion on that is the higher value of properties, people are going to be more cautious and will want everything done in a title company. If this buyer defaults on this deal, will you be willing to sue for a foreclosure? Will it still be profitable even after expenses if you have to go to do that? It may come down to how you feel about this buyer.”

Jill DeWit:                            That is awesome. What do you want to add?

Steven Butala:                   Well you never can predict, as nice as they sound on the phone-

Jill DeWit:                            That’s true.

Steven Butala:                   Whether they’re going to perform financially. So what Kevin is really saying … Here’s the math to all that, 78 acre property, they probably paid $10,000.00-$20,000.00 for it. They’re going to sell it on terms for probably $40,000.00-$50,000.00 with two or three $400.00, $500.00 payments a month. If they get a $10,000.00 down payment, let’s say they recouped half of their purchase price, and six to eight months down the road after collecting, $3,000.00, $4,000.00, $5,000.00, the buyer defaults and it costs $3,000.00 to get the deal back on track, get it back in their name so they can resell it. Is it worth it is what Kevin’s saying.

Jill DeWit:                            Right.

Steven Butala:                   By the way, Kevin’s answer was perfect. I could not have answered it better.

Jill DeWit:                            Yeah.

Steven Butala:                   Think of a house. You buy a house. It gets recorded in your name, and the mortgage company collects the taxes on your behalf and your payment, and submits it all. It does all that stuff. That’s exactly what a Deed of Trust is. Exactly. In fact, when you buy a mortgage in most states it’s a Deed of Trust. A land contract philosophically is the same thing as a buyer. If you bought a house on a land contract, you would also call that seller financing.

Steven Butala:                   You would move into the house just like you own it, and it would be your own, and you would clean it and maintain it, unlike a rental situation.

Jill DeWit:                            Right.

Steven Butala:                   At the end of when you paid off the house, at the end of the 30th payment, 30 years or whatever you negotiate it, it would get recorded in your name.

Jill DeWit:                            Right.

Steven Butala:                   So it’s just a different way to skin a cat. A different way to get the deal done. So you have to decide. Here’s what Jill and I have decided, not to sell on terms anymore at all.

Jill DeWit:                            Right.

Steven Butala:                   It really complicates these deals.

Jill DeWit:                            It does.

Steven Butala:                   Yeah, it’s easier, it’s faster, it’s easier to sell these properties, especially if they’re really large like that and close to an urban area like Los Angeles, but have to ask yourself, “Is it worth it?”

Jill DeWit:                            Right.

Steven Butala:                   We have people in our group who make a career out of this.

Jill DeWit:                            It’s true.

Steven Butala:                   They’re all set up for it. They have customer service people.

Jill DeWit:                            Maintain it and manage them.

Steven Butala:                   They’re making $10,000.00, $50,000.00, $80,000.00, $100,000.00 a month in payments they’re taking in, but that just happens to not be our thing.

Jill DeWit:                            Right.

Steven Butala:                   So Tom and Patricia are going to find out at the search thing here real soon.

Jill DeWit:                            Exactly. Thank you very much.

Steven Butala:                   Today’s topic, calendar-based schedules. This is the meat of the show. I am secretly a little bit excited about talking about how we do all this stuff. People constantly ask me, constantly, “How do you guys have so much time?” That was a big topic. Whenever there was a break at the last live event, people were saying, “How do you actually have a Land Academy and stuff? How do you keep the schedule on this podcast?”

Jill DeWit:                            Right.

Steven Butala:                   “How do you get so much done during a day?” We’re going to answer that right now. I mean, here’s what happens, and I alluded to this yesterday, everybody’s got a bunch of stuff to do. There is inbound things that pull you away from the stuff that you’re supposed to be working on. We all know that. If you’re in Land Academy, and you’re reasonably new, you hopefully have yourself all scheduled out about the things that you need to do to get your first deal done, or your first 10 deals done, or wherever you are in your career.

Steven Butala:                   But the phone rings, and it stops me from doing it. So what do we do? There’s all these inbound distractions from what you’re supposed to be doing. Immediately when they come in, you delegate them or schedule them to complete on your time. You don’t immediately react to them almost ever. That’s a lot easier to do if you’re a one or two person show and the second person that’s working with you is sitting right next to you, so you can say “Do this,” or they can say, “Hey, what do you think about this?”

Steven Butala:                   So you’ll never grow if you don’t do that. Here’s what you need to do. When these things come in, you need to schedule them in a calendar-based system like Microsoft 365 where there’s no talking. There’s no communication with the person that you’re delegating. They understand it pops up into their system automatically. If you’ve never used a system like this, I would encourage you to try Microsoft 365. It’s been nothing but a Godsend for us.

Jill DeWit:                            Right.

Steven Butala:                   That’s how you have to use the calendar. I mean we would never survive.

Jill DeWit:                            Right.

Steven Butala:                   The other thing is that, and this is where I think a lot of people can’t get to the next level, it’s another thing that people ask us all the time, “How do you guys get to the next level? How do add a zero to these deals that you’re doing?”

Jill DeWit:                            Yeah.

Steven Butala:                   You have to eliminate this inbound traffic that’s annoying, by replacing outsourcing and giving it to someone on your staff, training them and then walking away. You know, give them the peace sign and saying, “I trust you.” Are they going to do it as you did it?

Jill DeWit:                            Nope.

Steven Butala:                   Never. They were never … I struggled with this for a long time-

Jill DeWit:                            I know. I know.

Steven Butala:                   They will never do the stuff as well as you, and you have to get over that over you’re never going to move forward.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   You should be chasing zero. You should be delegating and assigning, and scheduling stuff that … There’s only certain stuff that I can do in these companies. Very few things, like pricing a mailer. If I really wanted to outsource that I could, because there’s probably people in our group that are better than I am at it. You have to get to the point where you are actually doing nothing, except the absolute imperative things.

Jill DeWit:                            Exactly.

Steven Butala:                   So then what do you? “Oh great, Steve, so you want to just-” yeah. Then you’re going start another company because that’s what you do. That’s what I do. You’re an entrepreneur. That’s why you’re here. It’s hard for me in an audio format like this to show you how we do this in Microsoft 365, but keep this in mind, after someone’s trained, or after you know what you’re doing, remove the communication.

Jill DeWit:                            Right.

Steven Butala:                   I see people spinning their wheels for years because they’re looking over somebody’s [inaudible 00:09:25] shoulder trying to make sure that they do it right-

Jill DeWit:                            Exactly.

Steven Butala:                   Instead of just trusting them.

Jill DeWit:                            Training them and moving on. Exactly, you have to do that. I was going to add a couple of things too I love about the calendar-based schedules. It syncs everywhere and we use it all the time.

Steven Butala:                   On your phone.

Jill DeWit:                            For personal things and business things. All staff, including kids we have-

Steven Butala:                   Our kids are in our system.

Jill DeWit:                            Mm-hmm (affirmative), in the system. It’s not fair, I don’t know you had a game. How am I going to know? I’m glued to this calendar. It’s all one calendar. It’s not crazy. Do it. Include your kids.

Steven Butala:                   “I thought you were supposed to drive me there, mom.”

Jill DeWit:                            Right.

Steven Butala:                   No. It’s in the calendar.

Jill DeWit:                            If it’s in the calendar, now I know.

Steven Butala:                   “Hey Steve, you’re supposed to be getting dressed for the opera that we’re going to tonight.”

Jill DeWit:                            Ding, ding.

Steven Butala:                   It’s not in the calendar, Jill.

Jill DeWit:                            I know. Well, we got over that. I know to use the calendar, trust me.

Steven Butala:                   “Oh great Steve, I told you 13 times three weeks ago that on March 15th we’re going to go to the opera in Sydney, Australia.” No, actually Jill we’re not, because it’s not in the calendar.

Jill DeWit:                            Isn’t that funny? I know. I didn’t do that, but that’s a beautiful thing. That’s what you get. We have to think like that.

Steven Butala:                   One or two times with the kids, or with your spouse, and especially with your employees where if it’s not on the calendar I’m not going to do it.

Jill DeWit:                            That’s good.

Steven Butala:                   If it’s not in the calendar, I’m not doing it.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s where I’ve gotten to at this point.

Jill DeWit:                            No, that’s good. That’s so good. That makes it so easier for you and I love that.

Steven Butala:                   And it’s stress-free.

Jill DeWit:                            Yeah, you don’t have to think about it.

Steven Butala:                   Now the if the stuff catch on fire and you have to go address it, yeah. So you schedule time for that too.

Jill DeWit:                            That’d be funny. Fire in calendar. Hold on, [inaudible 00:10:59] this is the calendar.

Steven Butala:                   The massive majority have blocks of time now, two and three hours. This is where I wanted to go in the first place. I had a vision for this in the first place, blocks of time in my life right now that are called account and creation. That’s what everybody on the whole calendar system sees. My availability is red. It all connects to Instant Messaging and Skype for Business, and it’s actually a very, very inexpensive way to organize all this.

Jill DeWit:                            It’s true. It is. It’s not a plug. We don’t get any money out of this by the way, yeah.

Steven Butala:                   We have no affiliation for this. I’ve tried a lot of systems-

Jill DeWit:                            This is just what we use.

Steven Butala:                   And this is the best one.

Jill DeWit:                            It’s way better than Google. We used Google for a while, and that was years ago, but that never really … It wasn’t as robust and-

Steven Butala:                   Well it didn’t all connect.

Jill DeWit:                            Exactly, I mean somewhat.

Steven Butala:                   If it’s free-

Jill DeWit:                            Yeah.

Steven Butala:                   Don’t use it.

Jill DeWit:                            Yeah.

Steven Butala:                   If it’s like $25.00 a month, I think that Microsoft 365 is-

Jill DeWit:                            That’s hilarious. You just … excuse me, you just uttered … That’s like a female mantra-

Steven Butala:                   I know.

Jill DeWit:                            Which is, “You get what you pay for.”

Steven Butala:                   I know. I know, I’m not saying pay $300.00 a month for Salesforce, which I think is a joke by the way. I think Salesforce is a joke. I’m saying, pay $25.00 a month per user and get the greatest product on the planet, Microsoft 365.

Jill DeWit:                            Right. Thanks. You’re hilarious. I love it.

Steven Butala:                   I have actually a lot more to say.

Jill DeWit:                            Well you-

Steven Butala:                   Can I keep going?

Jill DeWit:                            It’s up to you. I’m out. I had three notes.

Steven Butala:                   I have this theory about going to free events like the state fair.

Jill DeWit:                            Okay.

Steven Butala:                   The state fair is free.

Jill DeWit:                            Is it?

Steven Butala:                   Have you ever been to the state fair?

Jill DeWit:                            I thought you had to pay some money to get in there?

Steven Butala:                   You might have to now, but-

Jill DeWit:                            Oh, okay.

Steven Butala:                   If you’ve ever been to the state fair and you enjoyed it-

Jill DeWit:                            Okay, what’s good that’s free-

Steven Butala:                   You’re probably not a good Land Academy member.

Jill DeWit:                            Wait a minute, I have been to several museums if I happen to find them on the right night. Like Friday night in New York, was it MoMA? I can’t remember. But the Museum of Modern Art, it was free. That was good, but normally you have to pay.

Steven Butala:                   What was the crowd like?

Jill DeWit:                            It was packed. Darn it, you’re right. I’d rather go on Tuesday and pay.

Steven Butala:                   Pay $10.00, $15.00 or $20.00. Nobody’s there. Everybody smells good.

Jill DeWit:                            Oh man, I hate it when you do that.

Steven Butala:                   Have you ever been to a free concert.

Jill DeWit:                            [inaudible 00:13:19] totally right. No I don’t think that I … wait, I’m sure I have. Yeah, yeah and appear all the time.

Steven Butala:                   See?

Jill DeWit:                            Yeah, you’re right. Darn it. Shoot.

Steven Butala:                   Free stuff is bad.

Jill DeWit:                            Well I do remember always talking to the kids, “But mom, it’s free. We saw it on TV.” “Oh, trust me sweetie. Nothing’s free.” I only have to pay shipping and handling. Remember those commercials? “Free, you just pay the $23.00 of shipping and handling.”

Steven Butala:                   That’s not free.

Jill DeWit:                            For a $0.99 cozy.

Steven Butala:                   That’s not free at all.

Jill DeWit:                            I know. I had something to say.

Steven Butala:                   There’s always … no free [crosstalk 00:13:53]-

Jill DeWit:                            They hear “free”. You know what? That’s personally why our program is not free.

Steven Butala:                   Oh yeah, we have a lot of stuff that is free leading up to it.

Jill DeWit:                            Right, a lot of free information.

Steven Butala:                   But in the end we cover our costs-

Jill DeWit:                            We do need to.

Steven Butala:                   And it’s just like everybody covers our costs, or it’s just not going to be around.

Jill DeWit:                            I swear you feel differently when there’s skin in the game too.

Steven Butala:                   Yeah.

Jill DeWit:                            I know that. I know I feel differently about some stuff.

Steven Butala:                   Jill and I used to … We started Land Academy with a whole free property program. You have to order our stuff and we will give you a free property that’s kind of left over from our inventory-

Jill DeWit:                            Right.

Steven Butala:                   Because we bought for so cheap, $10.00 in some cases, and it backfired on us.

Jill DeWit:                            I stopped doing that.

Steven Butala:                   People didn’t want it.

Jill DeWit:                            They didn’t want the property.

Steven Butala:                   They didn’t understand it.

Jill DeWit:                            I had people that got a free property, signed up, and they’re like, “Okay wait a minute, I don’t want to take it on yet. Can you hold it for me for a bit?” I’m like, “What are you talking about?” And some [inaudible 00:14:44] said, “I don’t want it.” I’m like, “You know what? And that’s okay.”

Steven Butala:                   I don’t know how this whole thing became “Free is bad.”

Jill DeWit:                            I know. This is you. Let’s wrap it up.

Steven Butala:                   So anyway, I have chunks now that the whole world can see. You can see all your people’s schedules and what they’re working on and the whole thing. If you look at mine, it’s big chunks of content. “Content Afternoon” it says right now, or “New Business Development.” And they are two and three hour chunks because the small stuff is getting done. The daily tasks are getting done elsewhere. But I can see within my content creation that no one else can see, what I’m supposed to be working on.

Steven Butala:                   I stay on a schedule every day. I will drop what I’m doing if the … And it’s all set with alarms, so your phone’s going off saying, “Hey in 15 minutes, you’re about to have to do … Hey idiot, it’s eight minutes. You better think about leaving or doing whatever.” Then is it too much?

Jill DeWit:                            It’s good. Thank you.

Steven Butala:                   I’m calling myself an idiot.

Jill DeWit:                            It’s okay.

Steven Butala:                   Jill’s tapping me under the studio desk. She’s like, “Just too much, man.”

Jill DeWit:                            It’s okay. I think you hit your point home. Well, you’ve done it again.

Steven Butala:                   Oh, she cut me off.

Jill DeWit:                            You’ve wasted another ah, 15 minutes or so listening to the Land Academy Show. Join us tomorrow for the episode called Learning from the Land Investors Community.

Steven Butala:                   And we answer your questions posted on our online community, LandInvestors.com. It’s free.

Jill DeWit:                            You are not alone in your real estate ambition.

Steven Butala:                   Hey, we did change it up a little bit there.

Jill DeWit:                            We did. I kind of like it when we do that anyway. That’s more fun.

Steven Butala:                   Then I get into a rant.

Jill DeWit:                            A little bit.

Steven Butala:                   I was too preachy?

Jill DeWit:                            A little bit. It’s okay. No, preachy’s good. I think you hit it home, but I think our third time we got it. First time, okay. Second time, all right [inaudible 00:16:29] you’re stating it. Now the third time, like “Got it, Dad.”

Steven Butala:                   The real reason is it’s like 365 changed my life.

Jill DeWit:                            I know that, and I know that you are a huge fan and I’m very happy for you. I will get you a shirt that says that.

Jill DeWit:                            Wherever you’re watching, wherever you are listening, please rate us there.

Steve & Jill:                         We are Steve and Jill.

Steven Butala:                   Information.

Jill DeWit:                            And inspiration.

Steven Butala:                   To buy undervalued property.

Jill DeWit:                            365-

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