Why Men Don’t Understand Women (LA 988)

Why Men Don’t Understand Women (LA 988)

Transcript:

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.

You Don’t Need a License to Buy and Sell Real Estate (LA 987)

You Don’t Need a License to Buy and Sell Real Estate (LA 987)

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 how you don’t need a real estate license to buy and sell real estate.

Jill DeWit:                            What?! Wait, what?

Jill DeWit:                            Yes, that’s true.

Steven Butala:                   Of all the things that you need a license for, and I’m sure Jill’s got a whole list of them she’s going to describe, because some of them are silly, like being a barber.

Jill DeWit:                            Yup.

Steven Butala:                   You do not, in any way, need to a license to buy and sell real estate.

Jill DeWit:                            Yup.

Steven Butala:                   [inaudible 00:00:38] we have a lot more freedom than we all think.

Jill DeWit:                            Yup.

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

Jill DeWit:                            Damien asks, I primarily wholesale residential buildable lots inside … okay, wait, wait, wait. Can you go back up here?

Steven Butala:                   I primarily wholesale residential buildable lots inside of sub-divisions.

Jill DeWit:                            [crosstalk 00:01:07] Inside of sub-divisions. He put a question mark and that’s what threw my there. I’m like is that a question or a statement? Looking to branch out to other markets, however, I was wondering if there was a way I could find only counties with land that primarily uses public water and sewer and don’t need perk tests, wetlands tests, environment tests, et cetera.

Jill DeWit:                            Okay, so we want to find infill lots that don’t need those items.

Steven Butala:                   What he’s asking is, is there something in a data set in RealQuest, DataTree or whatever you’re using that identifies the buildability of a given piece of property, land.

Jill DeWit:                            Thank you for translating.

Steven Butala:                   The answer’s no.

Jill DeWit:                            [inaudible 00:01:51].

Steven Butala:                   So these data sets, while they’re extraordinary in the amount of information that they provide.

Jill DeWit:                            That would be cool.

Steven Butala:                   What they generally provide, this is how I mentally see it. What they generally provide is all the stuff that you could put on a piece of paper about a piece of property, but no so much the stuff about the physical asset. Now, there’s lots of exceptions to that, so you can get square footage very easily if it’s a house, and certainly if it’s land most of the time. Does it have a pool to how many bedrooms does it have and stuff, but we’re talking about land right now, so it’s almost all, does it have a mortgage? That’s one there, that’s one a piece of paper, but the attributes of the land, where utilities are? Is it in a flood plains? Things like that, those are happen afterward, and so if you’re brand new at this, this is a very good question, if you’re new at this, when you open this data set for the first time and you start horsing around in there, you don’t know what to expect. And a lot of times people, just because it’s curiosity, it’s not like they’re wrong, they don’t fully understand that the actually physical attributes about the property, access, and specifically access, nothing, it’s not there.

Jill DeWit:                            I look at it this way, which is true, the reason we have this data is around assessors, and it’s really what the assessors need to know or what to know so they can justify the taxes that are charged on the property. Do they really care at the end of the day what direction, what the view’s like or access, really, or buildability? No, that’s stuff we want to know as the buyer or seller or even end user.

Steven Butala:                   Yeah.

Jill DeWit:                            It’s different than what, they don’t really care about that. The type of house, if I go to the county, and I’m going to build a house on a piece of property, they’re not really concerned, they’re not going to tell me build bigger because we’re going to charge you more. It’s just kind of like whatever you’re going to do, let us know. They don’t really kind of care about that.

Steven Butala:                   I mean Damien asked this question in Land Investors and then many people answered. Many, many people came to a very quick answer. Mike Marshall was one of them who works at the LA county office, in Planning and Zoning, I think, and he gave a dissertation about what’s included and what’s not, and why there’s so many variables involved, and it basically summarized what Jill just said. Assessors need to know X, everything after that, we’re investors, we need to know it.

Jill DeWit:                            Right.

Steven Butala:                   And it’s not that hard to put the puzzle together after you do a few deals.

Jill DeWit:                            Well yeah.

Steven Butala:                   I will say this. Here’s a potential silver bullet, if you buy property, infill lots let’s say, in a very, very urban area, Phoenix, Albuquerque, Los Angeles, and the area’s relatively flat, there’s a darn good chance the property you buy is gonna have utilities right at the lot line. So there is somewhat of a silver bullet. Here’s an example of San Diego County itself, is very difficult to buy infill lots in, because it’s not flat. Oh wait Steve, Phoenix isn’t flat wither, Phoenix has mountains all over the place. Phoenix is completely flat, or it’s got massive mountains.

Jill DeWit:                            I love it when you have a conversation with yourself, and I don’t have to. That’s the best part.

Steven Butala:                   Same thing with-

Jill DeWit:                            Oh wait Steve. Can you imagine? I’m going to start doing that. I’m going to say, “Oh wait Jill, put that down.” Do you really need another?

Steven Butala:                   We really talk out of both sides of your mouth constantly.

Jill DeWit:                            Yeah, you do.

Steven Butala:                   I feel compelled to tell you.

Jill DeWit:                            Yeah. Do you know what that is? It’s this little guy on this shoulder, and the little guy on this shoulder, that’s what’s going on in your head right now.

Steven Butala:                   The angel and the devil.

Jill DeWit:                            And you just verbalized it for all of us. [inaudible 00:05:54] babe.

Steven Butala:                   If you look at infill lots in like places like Oklahoma, they all have utilities, especially urban places, right to the lot line.

Jill DeWit:                            So good.

Steven Butala:                   It’s just that San Diego is just packed full of unusable infill lots, as an example, but people who mail there buy incredibly awesome property at a very cheap price. You just have to, this kind of thing, it takes experience.

Jill DeWit:                            It does.

Steven Butala:                   I can tell you right now, buying infill lots in Phoenix is awesome.

Jill DeWit:                            Right.

Steven Butala:                   Buying infill lots in like any of the center states, and a lot of places in Texas, really good, especially urban areas. When it starts to get hilly, there’s problems, and California’s nothing by hilly.

Jill DeWit:                            Sorry, I’m just still laughing at you. I just love your vocabulary today. Whatever’s going on here, it’s great. I don’t know what it is. What was in your coffee this morning?

Steven Butala:                   You know what? I don’t think I’ve had enough coffee, [crosstalk 00:06:50] probably overcompensating.

Jill DeWit:                            That might be it.

Steven Butala:                   Today’s topic, you don’t need a license to buy and sell real estate. This is the [inaudible 00:06:58]. Okay, in true to form, that’s great Steve. I meet so many people. Why do real estate agents have-

Jill DeWit:                            Oh let me do it, let me do it.

Steven Butala:                   Go ahead Jill.

Jill DeWit:                            Well why not Steve? Please tell us more. Pick me.

Steven Butala:                   That’s great Steve. Everybody I know who buys and sells real estate or in a real estate business, they have a license.

Jill DeWit:                            I think they need it. They’re saving on the fees.

Steven Butala:                   They have a real estate agent license. They either had it, because they’re buying and selling houses for people, or they have it hanging on the wall over there, but they only do their own deals.

Jill DeWit:                            And I think it leads more credibility, doesn’t it lead more credibility?

Steven Butala:                   Let me clear all this up for everyone, one and for all.

Jill DeWit:                            Thanks Steve.

Steven Butala:                   You need a real estate, issued by the state your in to represent somebody in a purchase or the sale of their property, not yours.

Jill DeWit:                            Right.

Steven Butala:                   So you’re representing someone else in the purchase or sale of their property. Whether it’s a seller or a buyer. You do not need a real estate license to buy your own real estate.

Jill DeWit:                            Yup.

Steven Butala:                   And there’s no limit. I think the car industry confuses this a little bit because you don’t need a license to buy and sell your own car either, but if you buy and sell more than your own cars three times in a year, in Arizona anyway, you need a dealer license. There’s no such thing in real estate. You can buy a skyscraper without a license and without the use of a real estate agent, by the way, and you can buy 400 of them.

Jill DeWit:                            And your purchase agreement could be on a cocktail napkin, by the way.

Steven Butala:                   It often is. Commercial real estate is way less complicated, ironically, than a residential, and it’s because residential real estate agents can make it complicated.

Jill DeWit:                            Well, you know what I think about too? And I think, especially as an investor, you don’t want one, because if you think that, well first of all, having a real estate license, I know you said some of this already, it opens you up to all these things that you have to disclose now. There’s things you need to know and you have to disclose about the property and go into it.

Jill DeWit:                            The other thing is, I look at some people that, I think that they go into it, because they think they’re going to save money. Like okay, I’m going to do all my own deals, so no one else is going to get the percentage, I’m going to get the percentage. Just don’t have any agents, and then you get all the money anyway, and if you think that, you’re getting the full percentage because you’re the only agent that’s involved in the transaction, we’ll don’t forget, you’ve got to pay that broker a fee, often broker’s take a percentage of your cut. So you’re not getting the full commission like you think you are, versus just not having an agent or a broker involved at all.

Steven Butala:                   There used to be reasons for people who buy and sell real estate like us, to be a real estate agent, and the biggest one was access to the MLS.

Jill DeWit:                            Right.

Steven Butala:                   Well that’s not, if you just go to realtor.com, you have access to all the MLSs in the whole country, plus all that data.

Jill DeWit:                            Right.

Steven Butala:                   Plus a tremendous amount of backend data.

Jill DeWit:                            Exactly.

Steven Butala:                   If you dig through there, you can find some that’s downloadable. There’s no reason to be a real estate agent at all, unless you’re going to go out every day in the morning and look through listings or you’re going to represent couples and their new baby on buying a new house. That’s it, and that’s a whole different business. It has nothing to do with what we do, nothing. There’s no real estate agent who’s ever been a career real estate agent that knows anything about data at all. If they knew something about data, they would be an investor.

Jill DeWit:                            Exactly. I find it interesting the number of agents that say oh I want to be an investor, I’m like well why? They’re like because they make all the money and they have all the money. I’m like, well hold on a moment then, why aren’t you transitioning to that, and they just like throw their hands up, they just can’t possibly-

Steven Butala:                   Completely different town.

Jill DeWit:                            Yeah, and so.

Steven Butala:                   It’s apples and oranges. But my point to this is that, I’m trying to end this question once and for all, because there’s a lot of, and it’s not your fault.

Jill DeWit:                            Yeah.

Steven Butala:                   It is a lot of misconception about real estate licensure. So let’s just say it once again, it all has to do with representing someone else. If you represent yourself, you don’t need a license, and there’s no limit.

Jill DeWit:                            And you’re buying it yourself.

Steven Butala:                   No limit.

Jill DeWit:                            And you own it yourself, it’s your name on the deed, it’s your property. You’re not representing anybody, you can do whatever you want and make all the mistakes you want. They’re trying to look out, and I get it, having a licensed person. You work at Toyota let’s just say and the whole plant’s moving and you’re a professional and you’re busy, you don’t have time, there’s a need to agents sometimes, and they’re looking out for you and your wellbeing, and helping you make these decisions. That makes sense, and you want them to licensed and educated.

Steven Butala:                   Yeah.

Jill DeWit:                            That kind of a thing, but for this.

Steven Butala:                   So in the House Academy Program, we talk about the necessity for what we call boots on the ground, which is if Joe and Sally seller call me back, because they got a letter and say, “You know what, your time is perfect, I would love to sell you my house for $185,000. What’s the next step?” And it’s in Tennessee and I live in California. Somebody, and the sooner the better, has to go out there and sit them down and find out why they want to sell and establish a relationship, put a face to name, and we call that BOG. Well that’s great Steve. Isn’t that BOG thing, aren’t they representing you, the seller? Don’t they need a license? No, here’s why. Let’s take a step further, because they’re a partner in the deal. No they’re an owner, and they’re the seller, just as much as I’m the seller, and we cover that all in the program. That’s not even what I would call workaround. That’s total, full blown, we’re in business together to buy and sell real estate, their job as a partner is to handle the stuff on the ground, the boots on the ground piece. My job is to raise the money, keep the transaction going, employee transaction coordinator, get a title agent, all that other stuff, that I can do from behind a desk in a different state.

Jill DeWit:                            Right.

Steven Butala:                   You don’t need a license to sell real estate.

Jill DeWit:                            Well that’s great Steve.

Steven Butala:                   You just like saying that.

Jill DeWit:                            I do.

Steven Butala:                   Partners, partners, partners.

Jill DeWit:                            Yup.

Steven Butala:                   Well you’ve done it again, you’ve spent another 15 minutes or so listening to the Land Academy Show, join us next time of the episode called Why Men Don’t Understand Women.

Jill DeWit:                            And we answer your questions, plus at [inaudible 00:13:33] landinvestors.com, it is our online community and it is free.

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

Steven Butala:                   We’re getting a little creative with the Friday shows.

Jill DeWit:                            I was wondering what it was. Something going on there?

Steven Butala:                   No, it’s all real estate driven.

Jill DeWit:                            Okay.

Steven Butala:                   It’s because people in general handle real estate deals differently, sometimes it’s gender specific.

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

Steven Butala:                   We are Steve and Jill. Information.

Jill DeWit:                            And inspiration.

Steven Butala:                   To buy undervalued property.

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

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

The BuWit Family of Companies include:

https://BuWit.com

https://offers2owners.com

https://landinvestors.com

https://landacademy.com

https://landpin.com

https://parcelfact.com

https://countywise.com

https://deedperfect.com

https://houseacademy.com

https://ownersdata.com

https://houseacademy.com

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

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

Member Matt Rogers Shares Land Academy Success Stories (LA 986)

Member Matt Rogers Shares Land Academy Success Stories (LA 986)

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 with member extraordinaire, Matt Rogers, and he shares his success stories, hopefully, and maybe some of the reason why he got here. That’s really what I’m interested in.

Jill DeWit:                            Exactly!

Steven Butala:                   Before we get into it, I would love to… actually, this is the question. Love to know how you got here. And don’t leave out any details!

Matt Rogers:                      In the summer of 2017, I had taken a break from television producing, which I had been doing for 15 years, and was just kind of burnt out with the travel. I had been on the road for almost 10 years and had some great experiences, met a ton of cool people, have a million awesome stories to tell at parties. But at the end of the day, I didn’t really have a ton to show for it.

Matt Rogers:                      The money was good, but when you’re on the road that much, you get burnt out after a while. So, I started looking for ways I could work less in production and do something more for myself, and I started just digging into bigger pockets and figuring out different real estate avenues, things that could… You could get in with not a ton of money, and it kept coming back to land. And honestly, there’s three or four kind of main educators in the space, and with you and Jill being one of them, I just started listening to podcasts, and kind of connected with you guys and listened for a couple of months, tore through all the podcasts.

Matt Rogers:                      And just decided to join. I joined in September of 2017, and just said, “You know what? Let’s give this a shot and see what we can do.” And I had about $10,000 I wanted to kind of ante in with, and just see where it could take us.

Steven Butala:                   What’s your bank balance now, Matt?

Matt Rogers:                      It’s a little more than 10,000.

Steven Butala:                   Oh, wait, we need to hear… What was the answer? I didn’t hear that.

Jill DeWit:                            He just said, “A little more than 10,000.”

Steven Butala:                   12,000’s good.

Matt Rogers:                      No, it’s been a pretty crazy ride for the last, oh, I think we’re going on a little under a year and a half now, and honestly, the first three or four months was just almost dipping your toe in the water. And kind of testing for reason, as you like to say, and just making sure that you weren’t going to lose a ton of money or just want to make sure it works!

Jill DeWit:                            Yeah.

Steven Butala:                   What does a television producer really do? Every time I see it on a credits, in the before and after anything we watch, it’s like, “Produced by X,” and I just, my initial reaction is, “Yeah, they just put a bunch of money into that thing, and that’s it.”

Matt Rogers:                      There’s those type of producers. Those are usually on movies and things like that, executive producers, people that just are the money people.

Jill DeWit:                            Okay.

Matt Rogers:                      As we know, what we do, there’s money people in our business, too. And on my level, I did more of unscripted things, like Travel Channel, Food Network, HGTV shows, so I would run with a small team. I would usually have a couple of camera people, an audio guy, maybe a couple of assistants, and my job was to direct and also make sure all the logistics were in place while we were on location.

Matt Rogers:                      Basically, I was the boss. It all fell on my shoulders, and we would sink or swim based off of my leadership.

Steven Butala:                   Like, make sure people show up and stuff?

Matt Rogers:                      Make sure the talent shows up on time, make sure they know what to do, make sure the crew shows up. When you’re on location out wherever across the country or across the world, and some people go out and have late nights so you’ve got to make sure they show up the next day! In whatever condition they’re in.

Matt Rogers:                      So, there’s all kinds of… It’s basically adult babysitting. I’ll just put it simply.

Steven Butala:                   That completely explains why you’re so good at buying and selling real estate.

Jill DeWit:                            Yeah!

Steven Butala:                   Because that’s what this is. That’s what we do. Jill and I-

Jill DeWit:                            Deal babysitting.

Steven Butala:                   Jill and I babysit our staff. I mean, I’m not afraid to say it, because they listen to this stuff now.

Jill DeWit:                            [inaudible 00:04:00] Yeah.

Steven Butala:                   We babysit our staff, and you babysit these real estate deals.

Jill DeWit:                            Yep.

Steven Butala:                   We were ready to go out to dinner last night.

Jill DeWit:                            Yep!

Steven Butala:                   And we’re signing stuff, trying to figure out how to print stuff off like it’s 1968, and sign it and scan it and send it back.

Jill DeWit:                            Because they didn’t give me a DocuSign, which is silly, but, yep.

Steven Butala:                   That’s what this business really is, truthfully.

Jill DeWit:                            Mm-hmm (affirmative).

Matt Rogers:                      It’s amazing how many parallels there are between what I did and what this is. This is obviously a lot more data-driven, but I thrive more in the people aspect of it, and that part of it is kind of what I feel like has really helped me out in being able to do a fair amount of deals in a little over a year.

Steven Butala:                   Right before we started this episode with you, I turned to Jill and I said this:

Jill DeWit:                            Yep.

Steven Butala:                   “I am fascinated and vastly respectful,” because you and Jill have the same… you approach real estate investment and flipping properties, it’s the same way. It’s all very personal, personality and person-based. And I’ve spent the last 30 years devising these systems so that I don’t have to talk to anyone. That’s what the [inaudible 00:05:11] was.

Jill DeWit:                            [crosstalk 00:05:11]

Steven Butala:                   And then you guys just, you have no problem diving right in.

Jill DeWit:                            Pick up the phone.

Steven Butala:                   And calling people and saying, “You’re going to buy the property or you’re not going to buy the property,” or whatever. So, that’s really what I wanted to talk about with you today. Were you born with that? Were you like that in grade school?

Matt Rogers:                      No, not at all. And in fact, it wasn’t until… I’m originally from Indiana, and went to college there at Indiana, moved out to LA in ’03, and got into the television production world and it took a few years of really kind of grinding the way. And I started as a production assistant, where you’re doing all the dirt work and you’re just kind of doing what anyone tells you to do. And you have to kind of suck it up and deal with it, or you’re probably not going to work.

Matt Rogers:                      After a couple of years of that, you kind of start developing a thick skin, and then you have to… It’s all relationship-driven, you know? Pretty much everything is. But especially in the entertainment world, everything that’s production-driven, aside from camera people, editors and audio people, there’s not people with a ton of skill.

Matt Rogers:                      It’s all who you know and who knows you, and besides that, it’s all personality-driven.

Steven Butala:                   The three of us are sitting in front of a camera right now producing audio and video, and we have no skill, I can say.

Jill DeWit:                            Yeah. But we showed up!

Steven Butala:                   Yeah, we’re here on time.

Jill DeWit:                            We’re here!

Steven Butala:                   We started the thing on time.

Jill DeWit:                            [crosstalk 00:06:38] and we-

Matt Rogers:                      That’s another thing, too, showing up! Right? Just show up and turn the mics on, turn the cameras on, and you’re beating 90% of the rest, right?

Steven Butala:                   That’s it!

Jill DeWit:                            Exactly! Yep.

Steven Butala:                   My favorite book is by Bill Gates Sr., Bill Gates’ father, called Showing Up For Life. And he says, the first paragraph is, “I wrote this book to stop answering questions about, ‘How do you produce a kid like Bill Gates, Jr?'” And it’s called Showing Up For Life, and that’s what he says. He’s like, “I just showed up for my kid’s childhood, Bill showed up for his whole thing, and the rest just kind of fell into place.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   I wish it was that simple.

Jill DeWit:                            Or it’s true.

Matt Rogers:                      And I think a lot of it, too, is just, there’s that saying, “Be where your feet are,” right? So, wherever you are, try to be present, and if you’re doing a deal and you’re talking to somebody, and… you know, you talk to so many different people in this business that if you’re distracted, and it happens. You could have 10 deals going on at once, and the phone’s ringing, and you’ve got emails flying in, but if you’re able to just kind of hone in and connect with the person you’re speaking with on the phone or whatever that is, it really shows.

Matt Rogers:                      If you feel distracted by what you’re doing, people pick up on that, you know? And it doesn’t foster a good relationship, especially when you’re trying to buy or sell something for what we buy and sell for.

Jill DeWit:                            Exactly.

Steven Butala:                   Everybody remembers their first deal. What was your first deal like?

Matt Rogers:                      It’s funny, because it took me about a little over two weeks to finish the training, and once I got through the videos, I just said, “Okay, you know what? I’m putting the mailer out. We’ll see what happens.”

Matt Rogers:                      And I mailed… I did it exactly how you guys taught, and I did three counties, 1,500 mailers, 500 each county to diversify, and the first two counties, I bombed. Those were the first ones that came back, and I got a bunch of hate, and one county, I had no response. It’s like I didn’t even mail it. It’s like the mail never showed up; it did, obviously, because I sent myself a letter. And I just got nothing! It was kind of weird.

Matt Rogers:                      And then, about a week later I started getting calls, and I mailed some county in Tennessee in the middle of nowhere. I don’t even know how I picked it. And I started getting deals! And the very first deal was exactly as you taught in the original Cash Flow from Land program. Some lady calls and says, “Hey, I have a 1.2 acres, it’s in the middle of nowhere, I’ve never been to it. My mom died and left it to me. I have nothing I’m going to do with this. I’m just paying taxes on it for no reason.” The taxes were nothing; they were, like, 12 bucks.

Matt Rogers:                      But she just said it was a hassle, and, “Sure, I will take your $1,200 offer. When can I sign, and when can I get paid?”

Steven Butala:                   That’s it!

Jill DeWit:                            Perfect!

Matt Rogers:                      And that’s exactly what happened. And I bought it from her, and she… The way you talk about it in the original program, it happened to a tee. And I put it on Facebook, I put it on Craigslist; I didn’t really have any kind of business structure set up. I did it in my own name, and it took about six weeks, and some guy bought it for four grand.

Jill DeWit:                            There you go!

Steven Butala:                   Wow.

Jill DeWit:                            Haha!

Steven Butala:                   You can’t pay for that kind of testimonial.

Jill DeWit:                            That’s it. Yeah. And then, that started the whole thing.

Matt Rogers:                      Yeah, it started the whole thing. And to be honest, it was the longest six weeks, because I had no idea how long this is supposed to take.

Jill DeWit:                            Right.

Matt Rogers:                      A lot of the things we talk about is trying to get out in under 30 days, and that doesn’t always happen, but I got to the 30-day mark and I’m like, “Ooh, is anybody going to buy this?” I’d been getting calls, and I was nervous talking to a potential buyer because I didn’t really know what I was talking about. Kind of had impostor syndrome, almost. You’re just kind of faking it and trying to figure out what you’re doing.

Matt Rogers:                      And some guy came along, said, “Hey, I know where this is and I just want to park my camper there, and there’s no restrictions, and where can I pay you?”

Steven Butala:                   Did you get a check, did you get a wire transfer, did you put it in your personal bank account? Did you roll it into the next deal? I’m asking these silly questions, Matt, because we live close to each… I can ask you these kinds of questions and I can’t ask some other members these kinds of things.

Steven Butala:                   Give us the details, because everybody loves that.

Jill DeWit:                            Yeah.

Matt Rogers:                      Yeah! No, it’s not silly at all. I had a mobile notary go out and meet the guy, and did the deed just like Jill talked about in the original Cash Flow program. And the guy handed her over a cashier’s check, and she, I had a FedEx envelope waiting for the notary to overnight it back to me.

Steven Butala:                   Just like the program!

Matt Rogers:                      She sent it right back and I went to the bank and two days later, it was in the account.

Jill DeWit:                            Love it!

Steven Butala:                   What’s your favorite part of this business model, and your least favorite part?

Jill DeWit:                            That’s a good question.

Matt Rogers:                      I really struggle sitting in front of the computer and scrubbing data. And I do it, you have to do it, there’s no way around it. It’s not my favorite thing to do. I don’t hate it, because I’ve kind of gotten in a rhythm of how I like to do things. And I don’t know if that’s how other people do them. There’s probably a much more efficient way to do it, which I would actually love to learn from other members.

Matt Rogers:                      But I just kind of have my own system, and I find an area, download a ton of data, sit down for a day or two, scrub it all out, price it, and I kind of like to be out and about, and I’ll go ride my bike on the beach, walk on the beach, take my dogs out, and then I can do business on my phone, right? I can answer calls and emails from pretty much anywhere, which is the great part, but that’s what I love about this business. You can be anywhere! It’s great.

Jill DeWit:                            That’s great.

Steven Butala:                   What’s your favorite part?

Matt Rogers:                      Kind of a long-winded answer…

Steven Butala:                   Aside from cashing the checks, what’s your favorite part?

Matt Rogers:                      You know what’s really cool, is I’ve had a couple of sellers come back to me… or, sorry, buyers, people I’ve sold to, and one guy in particular, this is kind of a cool story. I had this kind of weird three-acre property that was landlocked, and probably bought it for nothing. I bought it for 2,000 bucks, and it was a little over three acres in Tennessee. It had a really cool creek running towards the bottom of it, but there was really no way to access it. The only easement was a guy had a fence up, and I sent a photographer out to go look at it, and the guy wouldn’t get through.

Matt Rogers:                      The guy came out with a shotgun and was like, “You’re not going past this gate.”

Matt Rogers:                      And the photographer said, “No problem.” Okay? Turned around and hightailed it back, and so I got no photos.

Matt Rogers:                      And I just did some Google screenshots and things like that. Ended up selling it to a guy. He bought it. Wasn’t quite sure what he was buying, but he thought he liked it. And I ended up giving him the info for the guy who owns the property on this side, right, that has street access. And I said, “I don’t know if this guy’s interested in selling, but I have access to his information. Call him and see if he’ll sell to you, and then you’ll have six acres with road from it, and power.”

Matt Rogers:                      And sure enough, this guy called him for six months. Finally got a hold of him, and the guy goes, “Where have you been? I’ve been dying to sell this thing. I bought it for my dad. He just died. It has septic on it. It’s literally ready to go.”

Matt Rogers:                      And this guy turned around and bought it from him for 10 grand! So, I sold him three acres and then put him in position to buy three more acres. He called me a month ago and was almost crying, really nice guy, and was just like, “You have no idea what you did for my family and I. We live in Illinois. We’re trying to get down to Tennessee, and we now own six acres with septic on it, and we can literally go move and build our little house on there immediately.” He’s like, “I just can’t thank you enough.”

Jill DeWit:                            That’s so cool!

Steven Butala:                   This is why I was excited of talk with you this morning, because this is what happens to Jill all the time. You guys approach this like you just create transactions.

Jill DeWit:                            Right.

Steven Butala:                   And I do not approach this this way at all, and it’s fascinating for me. If I had to guess, the majority of the people that are in our group are data people, because that’s just how we sell this. You know? That’s what we talk about. But it takes personality, and Jill just doesn’t stop! You don’t stop. And that’s what I think, you just, you created a transaction that changed somebody’s life.

Jill DeWit:                            Exactly.

Steven Butala:                   It’s not just real estate deals that we do, you know?

Jill DeWit:                            Well, you saw, Matt just said, we just did some shows on this that are coming up, that you’re solving a problem for the seller, and you’re solving a problem for that buyer! You solved it for him, and you came in at the right price, and he couldn’t be happier, and that’s so cool.

Steven Butala:                   By the time this airs, those shows will have aired, and they’re called Solving Problems for A Buyer, one show, and Solving Problems for A Seller. And that’s what we do.

Jill DeWit:                            Right.

Steven Butala:                   It’s not a real estate agent thing.

Jill DeWit:                            Nope.

Steven Butala:                   We don’t maximize price, or put up curtains and stuff.

Jill DeWit:                            Exactly.

Steven Butala:                   We’re really… You described your first deal; that’s perfect, you solved that woman’s problem.

Jill DeWit:                            Yep.

Matt Rogers:                      And it was simple. I didn’t have to do a whole lot. I just sent her a check, and she sent me the deed, and I had recorded it myself and did all that fun stuff, and turn around, sold it in six weeks.

Jill DeWit:                            Great. I want to hear some of the deals that you’re doing now. I know you’ve taken it to another level, so if you would share with us what you’ve got going on.

Matt Rogers:                      Well, let me say first that for, let’s say, maybe the first nine, 10 months, was kind of toiling in the buy-for-two, sell-for-eight, which is fantastic margins. There’s nothing wrong with that at all in that world. And then I just decided I wanted to try to do a little bit more, and what really inspired me was coming to the live event in last October.

Jill DeWit:                            Oh, I’m so glad.

Matt Rogers:                      And it’s really kind of odd, because you work on this island, you’re all by yourself kind of in your office, and you wonder, “Does anybody know or care what I’m doing?” Of course you’re selling, you’re buying and selling properties, but at the end of the day, I mean, honestly, it’s kind of a lonely business, you know?

Matt Rogers:                      Obviously, you two work together and you have a team so you have people to bounce stuff off of and get stuff done. I’m kind of a one-man band, and it kind of wears on you sometimes. So, going to the live event and meeting a bunch of people who literally said the exact same thing… Everybody was like, people couldn’t have been happier to meet each other! Thank you for that. That was really cool.

Jill DeWit:                            Aw! I’m so glad.

Matt Rogers:                      And out of that, I made several business partners. I’ve done deals with probably three or four different people in the group since then, and we’ve all made money, and, hey.

Jill DeWit:                            Yep.

Steven Butala:                   Are you coming to that one…

Jill DeWit:                            You’re coming!

Steven Butala:                   Is it in October, Jill?

Jill DeWit:                            [inaudible 00:16:50] You know about the next October, right?

Matt Rogers:                      I’ll be there.

Jill DeWit:                            Okay, I know.

Steven Butala:                   Perfect. Yeah.

Jill DeWit:                            Exactly.

Steven Butala:                   Do you wake up in the morning now and just… It’s all standing on its own legs now, right? You’re making enough money to…

Matt Rogers:                      Oh, yeah! Oh, yeah.

Steven Butala:                   You’re in for life, kind of thing?

Matt Rogers:                      I’m not sure we covered that earlier, but when I stopped working in production, I didn’t necessarily aim to start doing this to replace working in production full-time. It just kind of happened.

Matt Rogers:                      The first six months were a little lean, turning deals and making a few bucks here and there and stuff like that. But I had savings set aside from having worked for a while, and that wasn’t really that big a deal. But over the course of the last six to eight months, there’s definitely enough money coming in now where if I want to work in the production world again, I can. And be choosy about what I do, as opposed to years ago, having to take whatever job came down the pipeline as a freelancer because you need the money, or whatever it may be.

Matt Rogers:                      And just for the record, I haven’t worked in production in two years, so I’ve been doing this… You could say full-time for a year, year and a half, but really, I feel like the focus has been the last six to eight months, really making some money.

Jill DeWit:                            That’s cool.

Steven Butala:                   You guys don’t have any kids, right?

Matt Rogers:                      No kids, no.

Steven Butala:                   Do you wake up in the morning and just look at yourself in the mirror and say, “Man, I figured this all out”?

Matt Rogers:                      No, not at all.

Steven Butala:                   “I have some awesome dogs, and I love my wife, and I don’t have any children, and I buy and sell land, and I can go to the beach today.”

Jill DeWit:                            Yeah.

Matt Rogers:                      That part’s cool, yes. That part is great. In terms of [inaudible 00:18:29] or not, absolutely not. I still feel like I don’t know what I’m doing, but…

Steven Butala:                   You do, actually.

Matt Rogers:                      You know, it’s pretty simple. The great thing about the original Cash Flow for Land program was you made everything so linear. You and Jill very easily spelled out A to B to C to D, and just follow the steps and you can kind of get creative and improvise after you get the basics down.

Jill DeWit:                            Yep.

Matt Rogers:                      And I feel like a lot of the people I talked to in our group kind of have their own way they do things, and so do I, but it’s really cool to learn how different people do different things, especially once you get out of the beginner phase and know that you can kind of put your own little spin on how you like to operate.

Steven Butala:                   Yeah. I mean, once you get the confidence to turn deals on your own and make it your own, which is obviously what you’ve done, you’re in advanced group and that’s why, because everybody in advanced group’s got a different opinion about the same deal.

Jill DeWit:                            Right.

Steven Butala:                   And that’s what I think, that creativity, I’m sure that’s what happened in production, too. [inaudible 00:19:31] production. You bring that creativity to it, and that’s what makes it come alive.

Matt Rogers:                      Well, this is better because at the end of the day, there’s a scoreboard, right? You can see the dollars you make, you can see what you buy for, see what you sell for, and there’s a scoreboard involved. In production, which I love; the creative aspect of entertainment and making television and all that is great, but there’s no scoreboard! It’s all subjective.

Matt Rogers:                      You make something and then it disappears into the abyss, and you don’t see it for a year, and then it shows up on TV, and then you might now know how something got edited or whatever the end product might be, you sometimes don’t have any control over. Well, here, you have all the control, which is awesome. I love it.

Steven Butala:                   There’s no way to explain that to somebody who’s never been through it, because we’re talking into a camera right now and it’s actually fun. This is unusual to talk to somebody in an interview.

Jill DeWit:                            Right.

Steven Butala:                   But the vast majority of what we do is just talking into a camera, and you’re just, “I don’t know if that worked or not.”

Jill DeWit:                            Right.

Steven Butala:                   We’re coming up on Show 1,000, so it must be working, right?

Matt Rogers:                      Let me tell you, it works. Whatever-

Steven Butala:                   [inaudible 00:20:40] just nothing that comes back.

Jill DeWit:                            Yeah.

Matt Rogers:                      I know. It’s tough. But you also have, you two have a direct line to the people you’re talking to, whether it be the member call, the advanced call, other avenues of communication that you have. I feel like you guys are definitely able to get the feedback, I’m sure, if you really want, and I’m sure some people aren’t shy about giving it to you, I’m sure also.

Steven Butala:                   No, they’re not shy at all! It’s funny you mentioned the original program, the Cash Flow from Land program, a few times now and we never get any positive feedback on that. We only get positive feedback on version one and version two, you know, 1.0 and 2.0. And it’s interesting that…

Steven Butala:                   Because you must think, because I put that together and I’d look back on it now and it seems disjointed, and it’s interesting that you see it as a linear thought process. That’s how I see it, but a lot of people… It’s a lot longer than the other stuff that we’ve produced.

Matt Rogers:                      Well, I think also, some of the technology and data services and a lot of that, has just rapidly changed since then, so part of it is kind of dated with that, but the nuts and bolts of it are the same. You’re downloading data, scrubbing it, pricing it properly, and sending out offers, right? That’s the lifeblood of this.

Steven Butala:                   That’s it.

Matt Rogers:                      So, if you don’t continue to do that, then you’re not going to get any deals.

Steven Butala:                   Right.

Jill DeWit:                            Exactly. What’s going on now? What are your goals for this year, and what are you working on?

Matt Rogers:                      I’m working on quite a bit right now. I’ve done some partnerships with a few other of the advanced members in the group. Just did a deal in Sacramento that closed last month, with one of the advanced members that took about 90 days to tell. It was a commercial property and we got in at a really good price, and ended up, we doubled our money almost. And probably could have got a little more for it, but we ended up…

Steven Butala:                   [crosstalk 00:22:37]

Matt Rogers:                      Well, the crazy thing is, it was in the middle of the city of Sacramento, and as we know… I’ve never dealt with this before, so this was all new to me. Homeless people had busted through the fence on our property and set up a little camp, and it took a couple of weeks for the police to shoo them out, and they trashed the property.

Jill DeWit:                            Oh!

Matt Rogers:                      And so, I ended up getting a letter from the city saying, “Hey, you have 30 days to clean this up or you’re going to start getting fined pretty heavily.” And this is right around the time we started talking to a buyer who was as flaky as they come, and he ended up kind of buying at the 11th hour at… we’re literally a week or two away from having to figure out, “Do we get people up there and go clean this up? What do we do?”

Matt Rogers:                      It’s long-distance for both me and the partner on the deal, and just something we really didn’t want to deal with. And of course, we told the buyer what was happening, and he was getting such a smoking deal on it, we doubled our money and he got a smoking deal on it! So, you know, I know that’s what is talked about a lot, is make sure your buyer gets a good deal, too. This guy got a great deal.

Matt Rogers:                      And we said, “Hey, part of the great deal is, this is now your problem.”

Matt Rogers:                      And he said okay.

Steven Butala:                   Can you share the numbers with us? What you bought it for?

Matt Rogers:                      Yeah! We bought it for 27,000 and sold it for 56,000.

Steven Butala:                   And what is it worth?

Matt Rogers:                      We had it originally listed at 80. We thought it was actually worth closer to 100. There were some other commercial properties in the area that were going for somewhere between 80 and 100, but they were kind of longer days on market. And we had a couple of false starts with some buyers in the 65 to 70,000 range that kind of flaked out for whatever reason.

Matt Rogers:                      And so, this guy came around and kind of… I don’t want to say he low-balled us, but he shot us a number and we said, “Hey, look, okay…”

Matt Rogers:                      Well, around the time that we started getting violation notices, 55 grand didn’t sound that bad. 56, whatever it was. Somewhere in between there. So, we took it and doubled our money, and got out inside 90 days, and who’s going to complain about that, right?

Steven Butala:                   Yeah.

Jill DeWit:                            Exactly. Exactly. That’s awesome.

Steven Butala:                   How many deals are you doing right now? Just ballpark.

Matt Rogers:                      I have two deals that are closing on the sales side right now that are going to be pretty nice, and I have four I currently own that I’m selling, two of which are problem properties that I should have never bought.

Steven Butala:                   Yep. We’ve all had those. All of us. Even at this stage in our career, we are dealing with, there’s one property…

Jill DeWit:                            Yep. Oh, yeah.

Steven Butala:                   We are spending… I bet we’ve put together 10 hours on this thing.

Jill DeWit:                            It’s driving me nuts. Yeah.

Steven Butala:                   Anyway, go ahead.

Matt Rogers:                      But that’s where you learn! Right? You don’t learn from your successes; you learn from the failures. And this is kind of a funny story.

Matt Rogers:                      I [inaudible 00:25:16] a county just outside of Nashville. I do a lot of work in Tennessee. And this guy gets back to me and says, “Hey, I got two acres, would love to sell to you. The county-assessed value’s 18 grand.” I got him down to 10 grand.

Matt Rogers:                      And I never saw, I never had anybody go out and look at it, which is a huge mistake. I’m not doing that anymore. You have to have somebody go out and look at the property.

Steven Butala:                   Yeah.

Matt Rogers:                      I just kind of bought it completely sight unseen, and I’ve been sitting on it for six months now, and I can’t sell. I’m going to end up taking a thousand or $2,000 hit on it, but basically, I bought it with the intention of, this old man was telling me, “Hey, I have a hundred more properties that I’m willing to sell to you, but let’s get this one in the books first.”

Matt Rogers:                      And we got it in the books, and then kind of disappeared shortly after that, so I’m guessing this was his problem property, too.

Steven Butala:                   Yeah.

Matt Rogers:                      So, shame on me! You know? Now I know better. If we’re going to do it, and you’ve discussed it before, get a release. Get a list of properties, very specific; “What are you going to sell me next after I buy this?” And get a release signed on both sides.

Steven Butala:                   Yeah.

Jill DeWit:                            Yeah.

Steven Butala:                   What’s wrong with this one? Why isn’t it selling?

Matt Rogers:                      It’s heavily… Well, [inaudible 00:26:28]. It’s almost two acres, but it’s very narrow, so the property hugs almost too much of the street, and it’s pretty heavily sloped. And you can put a mobile on it, which is great. The problem is, somebody’s going to have to spend some money for some dirt work to put a pad on there.

Matt Rogers:                      And I’ve had… I’m not kidding. I’ve had 40 to 50 people go out and look at this thing. And even when I had it listed at 20 grand, people thought it was a smoking deal, and they went out, took one look, and said, “Nah. No, thanks.”

Jill DeWit:                            Sucks!

Matt Rogers:                      But that’s okay, you know. I’m going to end up at least breaking even or maybe losing a few thousand, and this is going to be the first deal that’s really gone sideways, so…

Jill DeWit:                            Right.

Matt Rogers:                      Not a big deal.

Jill DeWit:                            Exactly.

Steven Butala:                   I know you’re looking at a lot of properties in San Diego County. Did you have success there?

Matt Rogers:                      No, I didn’t. All the properties that came back on that one just had… I might have been a little gun-shy about a couple of them, that maybe somebody else might have done. But the ones that came back that were looking to sell just didn’t feel like great properties, and there would be something, I feel like, that would have prevented me from selling them. And down there, people know their worth a little bit more than maybe out in the sticks somewhere else.

Matt Rogers:                      And there are deals to be had, I know Luke does a ton of deals down there, but I’ve only mailed it once and did a pretty hefty mailer, and just nothing really worked out for me there.

Steven Butala:                   San Diego County, in my opinion, a lot like Los Angeles County. The terrain is very, very, very diverse. There’s a lot of property that was subdivided, and it has an APN associated with it that’s completely non-usable in a massive metropolitan area.

Steven Butala:                   And so, I’ve been kicking around, Jill and I have been kicking around the idea, and I know this. And I know this because I’ve mailed both of those counties, and we’ve actually hit a couple out of the park, but the vast majority are… No one’s ever going to be able to use this property! I’ve been kicking around the idea of doing some advanced content, or I don’t know what we would call it, some type of content that shares that experience to help people in the future kind of avoid it or not.

Steven Butala:                   But Luke’s killing it there, and it’s just not for you, but you’re killing it in Tennessee, and I’m sure there’s some people in Tennessee that just couldn’t make it work for whatever reason, so…

Jill DeWit:                            Totally!

Steven Butala:                   Then I ultimately decided not to do it, because of those things, you know?

Jill DeWit:                            Exactly.

Steven Butala:                   It’s to each his own, kind of thing.

Jill DeWit:                            Yep.

Matt Rogers:                      Absolutely! And it’s just one of those things where the properties that came back with willing sellers just didn’t feel like a great fit for what I was trying to do. And that’s fine.

Matt Rogers:                      There’s other areas of the country that… maybe more kind of desert-y properties in San Bernardino, or Riverside or something, where it’s a little more flat and there’s just kind of a desert square. But I’ve never really nailed those, either, so I’ve always kind of stayed, honestly… I’ve done some Sacramento stuff, but other then that, east of the Mississippi, really, is where I’ve done most of my work.

Steven Butala:                   Eastern San Diego County and Los Angeles, northeastern Los Angeles County, we’ve done great there. It’s flat and usable.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   It’s everybody’s… It’s whatever makes sense to you.

Jill DeWit:                            Isn’t that funny? We all have different things. Justin’s like, “I don’t do desert property.”

Steven Butala:                   Yeah!

Jill DeWit:                            He’s real vocal about that. I understand!

Matt Rogers:                      No, absolutely. And I don’t have anything against desert property at all, and there’s people making a killing out there doing tons of deals with it. I just, my first mailer that hit and got me traction happened to be in Tennessee, so I just kept mailing Tennessee, and kept getting deals.

Matt Rogers:                      As I branched out to look at other areas, I’ve done deals in different states besides Tennessee, but that’s been the one that’s been the best so far, for me.

Jill DeWit:                            That’s cool.

Steven Butala:                   Where are you from in Indiana?

Matt Rogers:                      I’m from Indianapolis.

Steven Butala:                   Okay. Have you considered mailing there?

Matt Rogers:                      It’s funny you say that. I did mail the surrounding areas. I had some properties that came back, and this was during the in-fills. I was doing almost exclusively in-fill mailers for about six months, and I had really good success with it the first three months, and then kind of tailed off pretty hard the last three months.

Matt Rogers:                      And in central Indiana there, I struck out. There was a few lots that I could have bought, but their price just didn’t quite work out. But I’ve since kind of gone into bigger acreage, and I’ve mailed areas in southern Indiana, which I know pretty well, where I went to school. And actually working with a realtor in the area, and he works exclusively with land. So, he and I have kind of developed a game plan for areas to target, areas he knows, and the mails I was going to hit this week.

Steven Butala:                   What’s the deal? You have a land-specific realtor. What’s the deal that you kind of cut with him?

Jill DeWit:                            Yeah.

Matt Rogers:                      He tells me where the good spots are to mail, I mail them, and if I buy them, he lists them.

Jill DeWit:                            Perfect!

Steven Butala:                   That’s great! So, you’re solving that problem.

Jill DeWit:                            That’s great!

Steven Butala:                   Is it working out?

Matt Rogers:                      Well, we’re going to see. I literally just sent my first mailer out that we’ve kind of… I don’t want to say we worked on together; I did it, but he gave me some good parameters of areas to look at, and kind of what price per acre would be in these areas, so it really helped me with my pricing. He’s a great guy, too.

Matt Rogers:                      Yeah, there’s two lots that I’m about to close on in that area from a previous mailer a month ago that he’s going to list for me. We’re going to see how these first couple go, but so far, it’s been good, and I had not really worked in realtors a ton, but in this case, it feels like it might be something that can be very beneficial for both of us.

Jill DeWit:                            That’s wonderful! Commercial or residential? Or both?

Matt Rogers:                      This is all residential.

Jill DeWit:                            Okay.

Matt Rogers:                      Some ag land.

Steven Butala:                   You know, when you can remove… I look at real estate investment in three stages. There’s acquisition, engineering or marketing, and sales. And when you can remove two of those… because I’m very, very good at acquisitions. I’ve spent my whole professional career in some, one way or another, in acquisitions. And I have also spent all of that time attempting to remove the engineering and the sales piece.

Steven Butala:                   And I’ve successfully did that with Jill.

Jill DeWit:                            Yeah! Here I am!

Steven Butala:                   And it quadrupled the volume, probably quintupled, the volume that I did before we had this partnership. So, I hope that-

Matt Rogers:                      That’s huge!

Steven Butala:                   With you.

Jill DeWit:                            Yeah.

Matt Rogers:                      No, absolutely. And the way you two work, seem to complement each other very well, which is fantastic. And I probably skew more towards Jill’s side. I enjoy the people part of things. I don’t dislike the data. I’ve learned to work with it, and how to use it, and make it work for me. Which is great! It’s been actually really fun to learn. Which, I’ve enjoyed that part of it. It’s just not something that comes really naturally to me, so I have to kind of push through to make sure that gets done.

Matt Rogers:                      But it has to get done, or no deals!

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   Matt, you’re welcome in our office anytime. You don’t have to be lonely up in El Segundo by yourself.

Jill DeWit:                            Yeah!

Steven Butala:                   I’m serious. And we don’t say that to anybody!

Jill DeWit:                            Yeah, it’s true.

Steven Butala:                   I’m serious. You want to come over and screw around and I’ll take you to lunch and stuff, we’re so close.

Jill DeWit:                            Yeah.

Matt Rogers:                      Yeah! No, absolutely. I love any chance I get to get out of the house, usually around lunchtime or something, and get a little fresh air before I go back into the hole and stare at a screen for another four or five hours.

Steven Butala:                   So, if you go from El Segundo where you are, go straight to the beach, turn left on The Strand and take it til it ends, that’s our office.

Matt Rogers:                      That’s Redondo.

Steven Butala:                   Well, you’ve done it again, spend another 20 minutes or so, probably more than that, 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’s free.

Steven Butala:                   You are not alone in your real estate ambition, Matt. You’re not alone, pal. You don’t have to be lonely there.

Jill DeWit:                            Exactly!

Matt Rogers:                      Oh, cry me a river.

Steven Butala:                   Yeah.

Matt Rogers:                      This is no… I’m not looking for any tears, but it’s, yeah, for somebody who’s used to working with people a lot, it takes some getting used to to work by yourself. But when you’re on the phone and you’re actually communicating with people, that’s great. I like that part.

Jill DeWit:                            Exactly.

Matt Rogers:                      And the money’s great.

Jill DeWit:                            And you could do it from anywhere! You could pack up your laptop and go sit on the beach if you really want to.

Matt Rogers:                      Which is the part I love the most. My wife and I can travel and I can keep my phone on me and do deals from anywhere. It’s fantastic.

Steven Butala:                   You know, last time we met, incidentally, talking about your wife, she loves her job and wants to work, right?

Matt Rogers:                      Yeah! No, she has a very good job at a big company here in the South Bay, and she’s been there about 15 years now, and is climbing up the ladder and doing very well. And yeah, no, she really likes her job, and she works with some great people, and she enjoys the structure of that world, which is great for her. And I’ve never been like that, though. I’ve always been…

Matt Rogers:                      I’ve never really enjoyed nine-to-fives. I just have always kind of done my own thing, even in production, which are crazy, weird hours. I don’t mind those, as long as I don’t have to show up to an office and be told, “You have to be here by eight, and you can’t leave here until 5:01.” That drives me nuts. I can’t stand that.

Matt Rogers:                      I will work 12 hours, 14 hours a day, I don’t care, but I don’t need somebody hanging over my shoulder telling me when to do that.

Jill DeWit:                            Exactly.

Steven Butala:                   I know where she works, too, and we don’t need to name names, but it’s the darling of South Bay, you know? That company. So, it’s got to be really fun to show up there, I would think, as an outsider looking in, and really succeed. Because it’s rapidly growing, it’s a breadwinner for…

Matt Rogers:                      Oh, yeah. No, absolutely.

Steven Butala:                   [inaudible 00:36:08] pretty good, too.

Jill DeWit:                            Yeah.

Matt Rogers:                      Yeah! No, no complaints at all. We’re very lucky, we live in an awesome area, we have a lot of awesome friends, great life. Things are fantastic, and this…

Matt Rogers:                      And a lot of it, honestly, is attributed to finding you guys, and working on land and buying and selling, it’s opened up a whole other avenue for me. It’s like, I’ve started a second career! And it’s really cool. It’s all in my hands, too, so I can work as much or as little as I want and how much I’m going to make is dependent on that. And I know it.

Matt Rogers:                      The next part is getting to the point where I don’t have to be as hands-on, and get some people in place to do some of the nuts and bolts, where I can just rubber-stamp some things and push them through, or say yes or no. And not kind of have to grind it out every day.

Matt Rogers:                      Which, I really don’t feel like it’s a grind, but you know what I’m saying.

Jill DeWit:                            Exactly.

Steven Butala:                   Yep.

Jill DeWit:                            Awesome. Well, thank you again for coming, and wherever you’re watching or wherever you’re listening, please rate us there.

Steven Butala:                   We are Steve and Jill!

Jill DeWit:                            We are Steve and Jill.

Steven Butala:                   Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

Jill DeWit:                            I lost my place.

Steven Butala:                   Thanks again, Matt. It’s awesome talking to you.

Matt Rogers:                      Yeah, no, absolutely! Thank you so much. I hope that went well. I feel like it did.

Steven Butala:                   It went great. It was perfect.

Jill DeWit:                            It went awesome! Yeah, I’ll see you in about an hour and 20.

Matt Rogers:                      Yeah! I’ll be on the call here at one o’clock, so thank you so much. I really appreciate it.

Steven Butala:                   All right. See you.

Jill DeWit:                            Bye.

Matt Rogers:                      Okay. See you.

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.

Our Most Recent House Flips Net Us 100K (LA 985)

Our Most Recent House Flips Net Us 100K (LA 985)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

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

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

Steven Butala:                   Today Jill and I talk about how our most recent house flips net us about a hundred thousand bucks. Jill’s like right before the show, “What do you mean it net us $100000?”

Jill DeWit:                            I don’t even look anymore. I’m like and did it what? What are you talking about?

Steven Butala:                   We made $98000. These three properties generated.

Jill DeWit:                            I get so-

Steven Butala:                   $98000. When you think about that, it’s actually pretty amazing.

Jill DeWit:                            It is.

Steven Butala:                   And you think about doing one a month. It gets to millions pretty fast.

Jill DeWit:                            Yeah. Do one a week.

Steven Butala:                   Yeah. I need it. Yeah.

Jill DeWit:                            That’s really what you’d like.

Steven Butala:                   If we didn’t have a show and we didn’t have Land Academy and House Academy. If we were you, listener.

Jill DeWit:                            We’re going to get back to one a week. All good.

Steven Butala:                   We’re putting food on the table. 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:                            Kevin says, “Hi everybody. Yesterday, I received a call from a property that we just put on the market”. And the caller asked, “Why is it so cheap?” I love this. Isn’t this funny how this happens? It’s so darn funny. Half the time I feel like I’m going to mark it up just because they don’t believe it. “That is my second favorite question when talking to buyers. One, it tells me that I got the comps right. That is important feedback when there are very few comps. In this case I really had to dig to look for listings and recent sales to get a number. Two, if the buyer is serious, he isn’t going to haggle much. He already knows that the price is great. Three, the buyer won’t drag his feet on a deal because he knows that other buyers will be attracted to this price. In this case, I have two buyers out looking at the property after being on the market for two days. And number four, I have the opportunity to explain my business to the buyer, so he knows how we purchase properties and why the price is so low.”

Jill DeWit:                            “I also explained that there are no liens or back taxes. That way you can stop worrying about the property being a toxic dumping ground and get on with making a good purchase decision. Oh yeah. My favorite question is how can I buy it? If you want to hear people asking you these questions? Send more mail.”

Jill DeWit:                            And I agree. That was good.

Steven Butala:                   That’s a Luke Smith call.

Jill DeWit:                            I like that.

Steven Butala:                   Stop asking all these questions. Just send more mail.

Jill DeWit:                            Isn’t that funny? And it’s so true. That happens all the time because our whole motto is buy a right, mark it up, this is, we’re talking land of course, mark it up so you double your money, but you’re still way below everything else out there. And then it’s going to sell really fast. And you are going to get these calls and these people going, “What’s wrong with this?” And the question is nothing and you better hurry up because I got, there’s other people looking at it, kind of thing. It’s great. What do you want to add?

Steven Butala:                   Nothing. Because Kevin’s actually a moderator on Land Investors.

Jill DeWit:                            One of ours, yeah?

Steven Butala:                   Oh, he’s just… Are there more than one moderators?

Jill DeWit:                            Yeah.

Steven Butala:                   Oh, I didn’t know that.

Jill DeWit:                            We’re moderators.

Steven Butala:                   If I’m a moderator on Land Investors, I think I’m failing at my job.

Jill DeWit:                            Yeah, you might be. That’s why we have Kevin.

Steven Butala:                   Kevin’s been with us for a long time. He’s super successful and he got the distinction of moderator because he’s just has a very unique way of looking at things and a very positive way.

Jill DeWit:                            And good at explaining things to people too. So it’s really, really good.

Steven Butala:                   Good writer.

Steven Butala:                   Anyway, I love answering questions like that for sellers. Like why is this so cheap? And what the heck? That’s why we started Land Academy because of questions like that.

Jill DeWit:                            Exactly.

Steven Butala:                   What do you mean you send out mail? And then we have to explain it. Instead we just have a show about it and sell it to everybody once at the same time every day.

Jill DeWit:                            Right. Hopefully.

Steven Butala:                   Today’s topic. Our most recent house flips net us about 100000 bucks. This is the meat of the show.

Steven Butala:                   What I love about houses is that every single transaction almost without exception, is a single. Speaking in baseball. You almost never, in fact, I’ve never personally hit a triple wholesaling houses. When you buy a house, it’s usually 75% ish of its value. Or you can look at it like I’m going to mark it up 30000 to 40000 bucks. In this case, that’s what it was, about $30000 for each of the three houses.

Steven Butala:                   And you can very, varies with great, with a high degree of accuracy. Expect when you’re going to sell it and for how much? It’s very consistent. And to make it even more consistent, this is like the accountant in me coming out, to make it even more predictable, all you got to do is send out x amount in letters and you know you’re going to buy a house. That number for us is about 3000 to 3500, it’s actually closer to 2500, but Jill is very, very selective these days about which houses we actually purchase. So when we send, this last mailer went out in a subdivision or it’s a city in Metropolitan Phoenix. I bet we bought half of the properties we could have bought.

Jill DeWit:                            Oh my gosh.

Steven Butala:                   Because you were so like, you know?

Jill DeWit:                            I’m not messing around. I’m just picking the, I want the good ones that are going to go fast. And you tapped into it. My favorite word here is consistency. And that’s one of the things that I really love about houses. From day one when you’re looking at the data and figuring out the pricing going out, you have so much quality data look at, it takes the guesswork out of it. It’s awesome. But then so you know, we know going into it pretty much by the time it gets to me there’s nothing to talk about with the offer price. It’s done, it’s set, we know it’s good. They’re either in or they’re out.

Jill DeWit:                            And then when it gets to me, and this is good because this is what I’m working on with wrapping up House Academy, I just recently finished was the due diligence part. Now I’m only looking at are there any fatal flaws that we couldn’t find in the data? Did somebody do an add on and the roof’s about to collapse? That kind of stuff. We’re going to smoke that out. Or is there something weird about it that we didn’t account for and we might not want to do it? So that’s really all I’m doing. But for the most part they’re great and they’re consistent. And I love that.

Steven Butala:                   I use the word consistency in the House Academy program probably a thousand times.

Jill DeWit:                            It’s good.

Steven Butala:                   When you’re looking for a market, you’re looking for consistency. When you’re looking at pricing, you’re looking at consistency. When you actually probably, I just filmed this chapter. When you’re looking for pricing because, House Academy itself is all about pitting these situations against each other to help you make a good decision about where to send mail, which zip codes are better? And then we get into the actual pricing itself in the spreadsheet before you send it to go out in the mail. You pitted against each other from a cash perspective and from a price per square foot perspective. And you mess with those numbers until you get really close and then you know. So it’s so predictable. That’s what I love about it.

Jill DeWit:                            Exactly. I know it’s funny, I was just thinking, I wrote that down because that’s a good little quote. I remember in the cashflow from land program, the big word that we hit over and over and over again was reach. Reach, reach, reach, reach, reach. And this one, the keyword is consistency. Like how cool is this? I love that.

Steven Butala:                   I just got done writing and filming a chapter, I don’t know, what a couple of days ago, about scaling your business. And because it’s so consistent, land is not as consistent. There’s always what, both are great, but land provides you the possibility of hitting a out of the park, home run. You can, we have people in our group that’ll regularly report marking up hot properties for 100, 250000 bucks, sell it in the same day. So while that’s a lot less likely with houses, you can outsource every single thing. Every single thing about, except for the decision, should we do this deal? And I would argue even then you could.

Jill DeWit:                            You know I have something interesting. I want to hear your take on this. I feel like when you’re doing houses, one of the things that, I think the buyers pool that you need to have lined up is smaller, as long as it’s a good buyers pool. I think it’s easier. Is that what you think?

Steven Butala:                   I think because houses are in an urban market and the quality of the data is way higher. And what you just said, the sales process is really to a very closed end group of people. It’s not open.

Jill DeWit:                            That’s the point.

Steven Butala:                   I mean I would argue that buying and selling houses is way easier for somebody who’s experienced then land. And faster and more consistent and predictable and all of it. It’s also more expensive. So there’s pros and cons.

Jill DeWit:                            I’m also writing down one of the things I love about, with House Academy. This is a good column so [inaudible 00:09:25] Are here because it’s in the program. Driving for dumpsters. I think that’s great. You’ve heard me rant about driving for dollars. Driving for dollars is not good. Driving for dumpsters. That is good. Those are your buyers. Makes it easier.

Steven Butala:                   It’s very, what Jill’s saying is it’s very simple to find out who’s going to buy a potential house renovation project from you because you’re the wholesaler.

Jill DeWit:                            Exactly.

Steven Butala:                   All you got to do is drive around the neighborhood, see who’s got dumpsters in their driveway because they’re already renovating houses in the neighborhood. They’d be happy to, they’ve already figured out how to finance it, how to price it, how to, and renovate it. Adding your property two blocks over because you marked it up for 20000 bucks is easy.

Jill DeWit:                            I love it. That’s a dream for them to have three in the same neighborhood at the same time is the greatest thing. They send the same guy, now when he’s done with the wiring here, he goes over there, he goes over there. It’s perfect.

Steven Butala:                   So it’s a, House Academy, that program, we’re just about done with it. I think my [inaudible 00:10:25] It’s all in editing now. I’m proud of it. And whenever we start these projects, I’m like this is an insurmountable amount of work and then when we’re done with it, I’m like, you know that wasn’t that bad. It came out pretty well.

Jill DeWit:                            We’re writing books by the way. We’ve actually, it’s like they really are novels that we’ve done. It’s really good.

Steven Butala:                   Anyway 30000 bucks, SFR flip, a house flip is pretty close to what happens on average. Some of them make 15 some of them make 40, but about 30, 30 to 33. And it’s easy.

Jill DeWit:                            It’s not hard. You’re right.

Steven Butala:                   Especially when there’s no real estate agents involved, then it’s really easy.

Jill DeWit:                            Ding, Ding.

Steven Butala:                   Well you’ve generally [inaudible 00:11:13] Spent another 15 minutes or so listening to the Land Academy Show. Join us next time for the episode called Member Matt Rogers Shares His Land Academy Success Stories.

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. What I really meant to say is both are good.

Jill DeWit:                            Which are good?

Steven Butala:                   Houses and land and influence and all of it. It’s all systematization.

Jill DeWit:                            I love the diversity of what we have going on. I really, really do. I know the land is so easy. That’s flowing nicely. You don’t have to think about it. Houses in there, info lots. It just, you can’t go wrong when you diversify like that. Love it. Wherever you are watching, wherever you are listening, please subscribe and 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.

Marketing is Everything (LA 984)

 Marketing is Everything (LA 984)

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 how marketing is everything.

Jill DeWit:                            It’s an amazing … Where would we be?

Steven Butala:                   You know, we were just talking before we started the show. This whole internet thing, if you’re very young, you don’t know what it was like before the internet and how hard it was to market. We all have businesses, every single one of us in Land Academy, and soon to be House Academy.

Jill DeWit:                            I remember with you being at a bookstore, I was looking at a magazine. This was way before Land Academy. It was just selling land. I was thinking, “Maybe we should create one of these magazines to promote our land.” I’m glad we didn’t do that.

Steven Butala:                   In marketing, you’re never going to sell a piece of real estate if you just purchase it and never tell anyone about it.

Jill DeWit:                            Exactly.

Steven Butala:                   So even if you sell a lot of property, just bring it on Craig’s List, and it’s free, you’re still marketing the property.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s what made realtors and the MLS so popular before the internet. We’ll talk about that and get into some detail in a second here. 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:                            Tanner asks, “Morning everyone. I’m interested in hearing some thoughts and opinions on how to gain good credibility as a new investor. I understand the importance of having a professional online presence to begin with, but how am I able to boost my credibility beyond that? Land Academy in itself is an incredibly credible source, so is that acceptable to say that I’m a member of this group so that a seller or buyer may be able to reference that as well? Would love to hear thoughts around this. Appreciate it.” On the way in, by the way, I’m listening to my Sirius Radio and the Wharton Business School, which I talk about a lot because I just love that dumb channel. It was just, there was a little excerpt from a show that I had heard a couple weeks ago about a guy saying, “Your website, when people are looking you up, right away your appearance and how it looks and everything, it makes them real quick decide quickly if they want to do business with you or not.”

Steven Butala:                   In two seconds.

Jill DeWit:                            So number one, you better have one. And number two, it needs to look good and professional. I would absolutely put us on there. We probably still have somewhere, our members would use it. It’d say, “Land Academy certified member,” like a little image that you could put on your website.

Steven Butala:                   Like a stamp.

Jill DeWit:                            I would totally use that. And it does make a difference when people trace you to us, then it stops it right there.

Steven Butala:                   I mean, there’s a lot of ways. This ties right into the show that we’re talking about. So, promoting yourself and what you know and the fact that you have maybe a different or unique angle on how to buy real estate maybe cheaper, you’re going to sink or swim by that. This goes right into the topic actually. In fact, let’s just make it the topic. Today’s topic, marketing is everything. This is the meat of the show.

Steven Butala:                   We have all extremes in our group. I very distinctly remember having this conversation with a member about a year ago, and he said some version of this. “You guys talk about a website and you talk about all the stuff that you have to do. I really think you’re over-complicating it. I’ve sold 42 properties. I don’t have a website.”

Jill DeWit:                            That’s right. I did it on Craig’s List.

Steven Butala:                   “I sold them on Craig’s List. I didn’t pay a dollar for any of this stuff.” And you know what, he made it work. He’s still a member. He’s not a very vocal member. That’s just not his personality, but that’s fine. Then we have the opposite extreme of one guy who’s a marketing professional. He came to us not knowing much about real estate and does a full blown HGTV show about people who buy land from him, and move on it and start farms and stuff. Then there’s people like us who are in between. We have this silly little show. Does this help us sell real estate? I don’t know. I don’t think so.

Jill DeWit:                            I don’t think we’re in between, by the way. I think they’re following in our footsteps a little bit. Let’s just call it that.

Steven Butala:                   Oh really?

Jill DeWit:                            Oh my goodness, yes. How many of our members have podcasts now because we said, “Hey you want to do something? Go get a podcast.” I mean, we have a couple.

Steven Butala:                   I didn’t put us on the top end of that scale. I just looked at us like we’re doing what’s necessary.

Jill DeWit:                            Where do you think it came from? My argument is the person who’s doing it with one way of promoting only free, not spending money, and making it work, I think that’s great slash however, how much faster, how much better could your properties sell if you put a little marketing effort into it? I bet you’d get more money for your properties. You’d get more eyes on it, that’s for sure, and probably sell them faster.

Steven Butala:                   I mean, what Jill said about yourself and your website, it’s absolutely true about the real estate too. If you make your real estate look great online, and you’re excited about it while you’re narrating it, or even if you do a 10, 15 minute video, it doesn’t have to be perfectly produced or any of that stuff. People are going to get excited about it. Look at the way other people do it and just improve on it.

Jill DeWit:                            This is making me think of some … We’ve all seen bad videos. We’ve all seen good videos. My favorite, just talking about property selling and marketing your property first. You’ve all seen videos with an intro and a beautiful drone flying. I hope you have. If you’ve not, I’ll show you where to look, but this is what you want to do. Drone flying in the area, showing the property, showing the creek and the trees and houses in the area, what’s possible and you narrating it. I mean, that’s marketing. That’s top notch. You could do this. It doesn’t cost a lot of money. If you don’t have a drone, you could kind of do a version of it like we used to back in the day with Google Earth Pro.

Steven Butala:                   Yeah, just fly in there that way.

Jill DeWit:                            Exactly. Then could you imagine horrible screen shots of well here’s the property at day, here’s the property at night. Here’s the property with snow, here’s the property without snow.

Steven Butala:                   Oh, the old snow property.

Jill DeWit:                            Could you imagine? Here’s my foot. See my foot on the property? It’s me. That’s my shadow. Sorry. You know it’s out there. You can find them and you can tell. Yeah, the whole thing is, for me marketing is two parts. Not only getting the word out in the right ways, but the right content because if you have a horrible article and a horrible video and you blast it on the planet, that’s going to still fall flat.

Steven Butala:                   Here’s the good news. Marketing doesn’t come natural to me. I have an accounting background. My best friend in college was a marketing major. All the way through school, I’m going through accounting, he’s going through marketing. I’m laughing at him, right to his face like, “What your learning is so stupid. It’s intuitive.” Yeah, shoot a good picture of whatever you’re selling. Yeah, get a sales force to sell your product. I mean, it’s so logical. But I was wrong. Marketing is everything.

Steven Butala:                   I’ll tell you, here’s the good news too. What I started to say is this. We’re in a business that you almost get rewarded for being under-produced. So, if your stuff doesn’t look perfect or your speech isn’t perfect or it’s clearly a first take and you’re getting through it, it makes you seem real. So, I don’t think the people that watch HGTV are flipping houses. I think they’re just doing it to get entertained.

Jill DeWit:                            That’s exactly right.

Steven Butala:                   It’s just a source of entertainment for that. If somebody’s watching your videos, or whatever, or have found your property, they want to buy some property. They saw it on Land Watch. Maybe you have a YouTube channel with five or 10 videos on it. They’re going to buy the property if it’s presented correctly that sings to them, and it’s priced right. There’s not so much pressure … If I’ve learned one thing at Land Academy since we’ve started it, it’s that we can choose to entertain-

Jill DeWit:                            Or bore.

Steven Butala:                   … or we can choose to sell something.

Jill DeWit:                            Hopefully both.

Steven Butala:                   And I lean more toward entertaining.

Jill DeWit:                            Entertaining, yeah. Here’s a fun fact.

Steven Butala:                   I know because I get criticized for it on the email every single week.

Jill DeWit:                            Here’s my fun fact. Did you know that over 25, or over 20 let’s just say, more than 20% of our workforce is marketing?

Steven Butala:                   No.

Jill DeWit:                            When you really think about it-

Steven Butala:                   Where’d you hear that, on the radio show?

Jill DeWit:                            No. I mean, our force.

Steven Butala:                   Oh, us. You mean the people who work with us.

Jill DeWit:                            Here’s what I do. You add up all the employees. You divide by the number of marketers you have. And that’s your percentage. We can do this on a spreadsheet if you’d like, Steven. Where did you get that?

Steven Butala:                   I didn’t know you meant you and I. I thought you meant our country’s workforce, 20% of the people are in sales and marketing.

Jill DeWit:                            I bet that’s even higher.

Steven Butala:                   No. I bet it’s lower.

Jill DeWit:                            What do you think? Do you think it’s lower? All right. Well, our personal workforce, it’s more than 20%.

Steven Butala:                   I think if you were to ask somebody who runs a McDonald’s, you would say, “Oh yeah we’re all in marketing.” Everybody’s responsible for selling and marketing. But if you ask the people who work there, they’re like, “No.”

Jill DeWit:                            Exactly.

Steven Butala:                   “I’m just taking their money.”

Jill DeWit:                            “No, I’m the french fry guy.”

Steven Butala:                   “I’m just taking their money, and I’m not happy about it. In fact, I never wanted this job at all.”

Jill DeWit:                            Exactly. “Great, I get the drive-through window again. Thanks.”

Steven Butala:                   “I started this job as a part time job when I was a teenager, and I’m 48 now.”

Jill DeWit:                            “And I’m a key holder. Yay.”

Steven Butala:                   What’s a key holder?

Jill DeWit:                            I’ve heard that term, it was years ago, because one of my good friends worked at McDonald’s. You got to be up to the point where you were … There was a key holder, and you got to open up McDonald’s in the morning. That was a very big deal for my friend named Steve. Seriously. It’s a very big deal.

Steven Butala:                   I do everything I can to not have any keys in my life. There’s lox boxes everywhere. I do not want to be a key holder.

Jill DeWit:                            Yeah, no. That’s awesome. That’s so good.

Steven Butala:                   Marketing is also one of those things that it’s not like accounting or it’s not finite. It’s not like if you do these five things, you’re going to be successful at marketing your property that you purchase. In accounting, if you do these five things, you’re going to succeed at it. Even in having a show like this, it’s running down a checklist every episode. With marketing it’s like, I don’t know maybe this will work.

Steven Butala:                   Here’s what I personally found really frustrating about marketing up until like a year ago, and it stopped because you and I had a conversation that went like this. Every time we produce a piece of content, and you stick it on the internet, there’s this … This is how they trick you. There’s this hope that it’s going to go viral. And only 500 people looked at it. Then they’re bored with it and they want something else.

Jill DeWit:                            Isn’t that hilarious?

Steven Butala:                   I got over that fast because if you have 50 things out there and 500 people watched them each, then you’re good.

Jill DeWit:                            Exactly. What I find interesting too is you think that marketing is all about ad spend, and all the money you put into it, but it’s not. You think that the more I spend, the more this, but no. You get strategic at your spending and better with your content and you tweak your content, and that’s really how you want it. Without that, we’re forever … I don’t think it’s ever going to change. I think you’re never going to find a perfect balance. It’s never going to be perfect that you can go, “Well I guess we’re all done. We can let somebody go now because we know what we’re doing.”

Steven Butala:                   I personally-

Jill DeWit:                            No, it always changes and evolves with new platforms and people and strategies.

Steven Butala:                   I micro manage our click-through rate and our click percentage every day. So when you get to a certain point, you really need to do that. Let’s leave it on this. Every week we have a member call and we have an advanced member call. A couple weeks ago, we were talking about marketing and how to sell property, and a guy piped in and said, “I own a home renovation company. That’s why I’m part of your group, because I buy properties to renovate,” and all that. He said, “Five years ago, eight years ago, to get customers to renovate their homes, I had to spend a quarter of a million dollars a month.” He said, “It cost me $20000 a month to do the exact same numbers now.” So, we’re in a great time for marketing. If you can provide unique content about your property and find some attribute in that property that not a normal person sees, you’re going to do great. You’re going to sell it. And it’s very, very economical. It’s never been cheaper ever in the history of the world. Never been cheaper to start a successful small business than right now.

Steven Butala:                   Think about that for a second. It’s amazing.

Jill DeWit:                            It really is. It’s true.

Steven Butala:                   Well, you’ve done it again. You’ve spent another 15 minutes or so listening to The Land Academy Show. Join us next time for the episode called how men and women approach land investing.

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

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

Jill DeWit:                            Do you have any more to add?

Steven Butala:                   No, I really don’t.

Jill DeWit:                            Isn’t that amazing? I feel like I’m always learning something.

Steven Butala:                   You’re right.

Jill DeWit:                            It doesn’t matter if you do it in-house or you outsource. It’s going to be expensive. There’s going to be a learning curve and you just have to get over it. You have to do it.

Steven Butala:                   You know marketing really is one of those things that never changes. How we buy real estate, and the tools we use basically stays the same, but I’ll tell you, marketing, like right now Facebook marketing, we’re in it, neck-deep in it because it’s just efficient, and Instagram consequently because of that. But there’s other places.

Jill DeWit:                            YouTube. It’s going to be fun. I would love to see … I can’t imagine where we’re going to be 10 years from now and what marketing’s going to look like, because 10 years ago, who knew what we’d be doing? It’s cool.

Steven Butala:                   You know, it’s interesting you say that. I saw an interview with George Lucas about that. He said, you know the Star Wars. He said, “Think about how movies have transformed in the last hundred years.” If you watch a movie from 100 years ago, which was about 1920-ish, it’s all black and white. Then he said, “Think about the way technology is. Think about what the movie industry is going to be like 100 years from now.”

Jill DeWit:                            I know, it’s going to be amazing.

Steven Butala:                   It’s going to be like holograms and stuff.

Jill DeWit:                            It’s going to be scary, really scary. Are we going to need actors anymore? We’re just going to do it all on the computers.

Steven Butala:                   I don’t know.

Jill DeWit:                            Half of it is that way anyway, a lot of it.

Steven Butala:                   Right.

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

Steven Butala:                   We are Steve and Jill. Information.

Jill DeWit:                            And inspiration.

Steven Butala:                   To buy under-valued 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.

Illinois Governor Pritzkner Property Tax Evasion Investigation (LA 983)

Illinois Governor Pritzkner Property Tax Evasion Investigation (LA 983)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Happy Friday.

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

Jill DeWit:                            And Jill DeWit broadcasting from sunny Southern California.

Steven Butala:                   Today, Jill and I talk about Illinois Governor Pritzker, property tax evasion investigation. Sounds boring, but I promise you it’s not.

Jill DeWit:                            This is a good one.

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:                            Michael A. Hello. Michael asks, “Hello friends, for those of you who have subscribed to PATLive, how’s it working out? Sure, PATLive can take messages, but are they really helping out? Are you simply calling back at the calls that PATLive takes? Is it really helpful? Every call is different and often there’s amount of rapport building that’s needed to convince the seller that you’re not a scam or that your offers legit? Is PATLive able to do this for you? Please share your experiences. Thanks.”

Steven Butala:                   Jill’s an expert at this, but I must say before she answers, I’ve never seen so many answers, membership answers. There’s probably 35 answers of positive experiences from our users about PATLive. So, there’s an underlying meaning here to this question. Jill’s going to answer the actual question. Does PATLive work, yes or no? And I’m going to answer, what I think is the underlying meaning here.

Jill DeWit:                            Okay, I love it. So here’s the deal about… So PATLive, there are other different services out there, but we all, as a group, use PATLive and it’s nice because they are a little bit real estate based. I think we have a group and they know us.

Steven Butala:                   They understand our group.

Jill DeWit:                            They do and they understand our calls and what we’re doing. We’ve got some seasoned people now, so it works out great. But what’s funny too is… What it is, is you send out mail, and the offers come back. You can pick up the phone yourself and weed through all the calls, either the good and the bad and the, “Hey, take me off your list calls.” Or you can have someone like PATLive answer the phone, weed through those calls and then, just send you the responses. Which is a beautiful thing because it saves you so much time and energy.

Jill DeWit:                            Maybe you have a day job. This covers that for you and then, all you get at the end of the day is a list of who you want to call back. You may have six no’s, one person that was really unhappy and you can see that. Then, you have four people that said, “Love your offer. How fast can we close?” And those are the ones you call back.

Jill DeWit:                            So it’s really great and they’ll take down some of the details too, which I appreciate. Because what you can do then is have a chance to look up the property and just look over some things and go, “All right, I remember what I offered. They liked it. There’s the property.” So when you call them back, you’re ready to in that… Now you’re only making that one phone call, you can efficiently, really close the deal on that call.

Jill DeWit:                            You could have already looked it up and said, “Hi, I just want to make sure I’m talking to Mr. and Mrs. Smith? Yep. Well, I looked it over and you accepted my offer of $1,293? Yep. We love it. Can we do it on Tuesday like you said? Absolutely. Is this the right address for you [inaudible 00:03:11] notary? Yes it is.” And you can see how that goes. You could really in one call, with this service, close your deals, why I think it’s efficient.

Jill DeWit:                            What’s funny too is… And we’ve used it in the past. I don’t know because I have my own staff taking the calls for us and what we could do in-house, my own staff cannot effectively close the deal on that one call. Look things up right as we’re talking, know that it was our offer price and what’s basically pre-approved and do it for certain transactions.

Jill DeWit:                            But what’s funny, all I keep thinking about it was one of our members who is sending out so much mail. This is his full-time gig now and he’s sending out so much mail. He sent us a note the other day that said that his PATLive bill has exceeded his mortgage payment. So it doesn’t mean that PATLive is that expensive. It means that he uses them that much. That many calls are going out because he’s sending that much mail and it is saving him so much money. I mean, he’s thrilled. That was a bragging moment for him, like, “I got this.” So what were you going to…

Steven Butala:                   Everybody who I’ve ever talked to who has used PATLive or an answering service, me included, this is even before Jill. It’s one of those things where you say, “Boy, I wish I would’ve done this a year ago.” It’s a life changing thing and it’s very efficient from a financial standpoint and a time standpoint to outsource that.

Steven Butala:                   We send a lot of mail out, if you do it correctly. You get real positive phone calls back, but you get a lot of negative stuff too because you’re sending offers out, in general, for less than the property’s worth, so some people get upset about it. That gets removed from your life entirely and gets shoved on the people who are answering the phone and they separate those calls, so you never have to deal with it. It’s completely out of your life. You don’t even know.

Steven Butala:                   But my point is, the underlying meaning here is this, we’re all entrepreneurs here and we’re all people and we’re all theoretically trying to move forward in life and move up. It is essential in almost every situation, if you’re going to move up in life or move up in your company, to give up some control. You can’t do it all. You start out in this world with a finite amount of minutes in the day or in the week, work minutes specifically. You get to a point where to grow, you have to outsource, you have to give up control. That’s very hard for a lot of people. We see some people that stay in one spot in their career as members of Land Academy for too long because they’re not willing to do something, like get PATLive and then, free up that tremendous burden, time burden. It’s a huge time burden for very small amount of money. Just a few hundred dollars a month, in general. So you have to look at it that way.

Jill DeWit:                            You’re right.

Steven Butala:                   Is that person who answers the phone a PATLive, are those bank of people going to answer the phone the way you do? Nope. Is it going to cost you a deal? Probably a month, maybe. But you got to get your head around that or you’re never going to move forward and you know what, I’m really talking to myself here. Because when it comes to really given up control and moving onto the next thing, I have problems with that. So does Jill, actually.

Jill DeWit:                            Mm-hmm (affirmative). It’s true.

Steven Butala:                   Everybody who’s human and who’s an entrepreneur does. It’s like giving up part of yourself or part of your kids or something like that. So, move on to the next company here or make this one bigger.

Jill DeWit:                            It’s true.

Steven Butala:                   So PATLive’s a tiny little example of that, but that’s why I chose this question.

Jill DeWit:                            It’s a good question. No, and I understand your underlying meaning and theme here and I’m glad that you said that. Thank you.

Steven Butala:                   Today’s topic, Illinois Governor Pritzker and his property tax evasion investigation problem. This is the meat of the show. Cook County, Illinois, which is where Chicago is and Orleans Parish, which is where the city of New Orleans is, are historically the most corrupt counties in the country. It’d be tough to argue that. I’m going to get so much email on this episode about all kinds of stuff. We get a bunch of email anyway, but I can already tell.

Jill DeWit:                            Good thing somebody else is answering the phone.

Steven Butala:                   Of the nine most recent governors of the state of Illinois, five of them are in federal prison right now. That’s a fact.

Jill DeWit:                            I did not know that.

Steven Butala:                   Plus or minus one or two of the people or the timeframe, but I got the basic statistic right and this guy’s on his way. This is what he did. He’s a multimillionaire. Now I’m talking a huge multimillionaire and he got elected to office, he bought a mansion. He and his wife bought a mansion that was very, what he believed to be undervalue And in the state of Illinois and specifically, in Chicago, there’s a way that you can… If a property is being renovated/not tenable, you can apply for and receive, based on an inspection, a huge break in property taxes.

Steven Butala:                   This is a big, huge property in the city of Chicago, so you can imagine how much it is. So he proceeded to buy this property and remove stuff to make it untenable with intent and with a paper trail. He and his wife both traded off emails and phone calls to the contractor and said, “Hey, can you remove all the toilets and remove the sink in the kitchen and make this thing untenable because we’ve got a scheduled appointment with somebody from the assessor’s office to make sure this thing qualifies for the tax break.”

Steven Butala:                   There’s a year of conversations recorded like this making a mass massive paper trail and the guy’s going down. He’s going to go to federal prison for this. All he wanted to do was take the toilets out and take… I think he took a bunch of stuff out of the kitchen to make sure that no one could live there and he got the massive tax reduction. I don’t the numbers, it’s something like, $30,000 less a month.

Jill DeWit:                            So was it supposed to be an investment property or they were supposed to live there? Do you know?

Steven Butala:                   He shut up after awhile, fortunately for him. His intent was to just wait. He bought it and let the market go up and just… Or maybe even clean it up, part of the renovation. Who knows? That’s his story.

Jill DeWit:                            Oh, that’s part of his whole-

Steven Butala:                   That it was part of the renovation.

Jill DeWit:                            I’m going to sit on this asset and have lower taxes than everybody else for a while.

Steven Butala:                   Yeah.

Jill DeWit:                            Got it. I thought it was like the day before the were caught. I thought he was living there. When I heard this story, I thought maybe he and his wife were living there and the day before the inspection they moved out and did all this. Then the inspection happens and then they moved back in and put it all back. That’s what I thought was going on.

Steven Butala:                   So that’s the whole governor of Illinois story. But here’s the real topic today. Why do you have to cheat? There are some people in our group, I’m obviously, not going to name names, that have a long history of these types of operations. I don’t understand why you have to cheat or try to sell somebody something that they don’t want or this hard sales, classic hard sales thing.

Steven Butala:                   Listen, there’s no tricks to this. You send out a bunch of mail at a certain price to a bunch of people who own property. They might be skyscrapers, they might be rural, vacant land or anything in between. The people who are interested in selling their property because they’re at a situation in their life or a time in their life that they want to do that, they respond to you. And the ones that don’t, don’t and that’s it.

Steven Butala:                   So I don’t know why there’s always this undertone. I think it’s real estate agents. I really do. I think real estate agents give this whole industry a terrible name. This seems to be this undertone of, you’re taking advantage of this situation. I don’t mean an undertone for us and how we buy and sell property, but stuff like this. He didn’t have to do this.

Jill DeWit:                            Right? He could afford to pay the taxes. He could have bought the house, he could afford that.

Steven Butala:                   Or maybe he looks at the deal, he says, “The mansion costs X. The [inaudible 00:11:14] costs Y. I’m going to make 22% on this thing, or I’m going to make 48%. You know what, 48% of my money, it’s not good enough. I’m going to move on to the next deal.”

Jill DeWit:                            That’s true.

Steven Butala:                   Instead, he goes into it. Really, If you read the media and all this stuff about this specifically case, you have to ask yourself, what else has he done? This is the one thing that he got busted on. But what has he done in his whole career, if this is how he approaches stuff? To really bend the rules and bend them to the point where they break and be so cavalier about it to leave a massive paper trail and a video trail. Don’t run your business like this? You don’t have to… If there’s some shady stuff going on, just stop it.

Jill DeWit:                            I agree.

Steven Butala:                   Or do a different type of deal.

Jill DeWit:                            I agree. Yeah. I completely agree.

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

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

Steven Butala:                   You are not alone in your real estate ambition. I just don’t think you have to cheat to win.

Jill DeWit:                            I apologize. I didn’t have a whole lot to add.

Steven Butala:                   That’s okay. I knew you wouldn’t Jill.

Jill DeWit:                            I know the story. I know how you feel about it. I think we all feel the same way. I hope we all feel the same way and the only thing that’s shocking to me, is it’s still going on. A, he could afford it. I mean, and B, come on, you really think you’re above the law here and no one’s going to catch up with you?

Jill DeWit:                            Look, we personally took our Google, not that there’s anything going on, but I just don’t want Google on my counter listening to my, every word’s. Nevermind, my cell phone’s picking it up, but, whatever. But, you shouldn’t be doing anything wrong and if you are, don’t be… He’s just like talking about it in the emails and everything. So to me, it’s like a cavalier, I’m above it all-

Steven Butala:                   Yeah, me too.

Jill DeWit:                            … kind of thing too that makes it a little bit worse.

Steven Butala:                   Have you ever split property? I have, tons of times split property. It’s very hard. You’ve got to do with a bunch of people at the county and if you walked in there… Here’s one extreme. If you walk in the county and say, “I’m going to split this property.” What they’re going to say to you immediately is no. You can’t split it.

Jill DeWit:                            Yeah. No.

Steven Butala:                   Even though you can, and most people are going to say, “Okay, thanks. I guess I would try.” And walk out.

Jill DeWit:                            It’s true.

Steven Butala:                   And walk out. I’m not talking about… That’s not what this guy did.

Jill DeWit:                            No.

Steven Butala:                   Because Jill and I wouldn’t take no for an answer. We would sit there and manipulate the situation and I’m not saying break the rules or even bend them. We would say, “Yeah, we’re going to split it because [crosstalk 00:14:02] we read the statutes.” In fact, you’ve never read the statutes.

Jill DeWit:                            Exactly.

Steven Butala:                   I’m sure of it. I’ve read them. I’m right, you’re wrong and so together, we’re going to split this property.

Jill DeWit:                            Exactly.

Steven Butala:                   So we can do this real hard and take a long time or I can give you this package that I put together with some cupcakes by the way, because we respect what you do here at the county and we’re going to go through it together and hopefully, maybe in a few weeks we’ll get it done. That is not bending the rules. That’s acclimating yourself to an environment and getting the stuff that you want out of the end and everybody’s smiling and laughing while it’s happening, hopefully.

Steven Butala:                   It’s not lying and illegally splitting property or buying a property with the intent to split it illegally and then letting the people who purchase the property from you-

Jill DeWit:                            Yeah, figure it out.

Steven Butala:                   … deal with all the BS for five years from now.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s my point to this Pritzker thing present.

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

Steven Butala:                   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.

Difference Between a Wholesale and Retail Deal (LA 982)

Difference Between a Wholesale and Retail Deal (LA 982)

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 DeWitt. Broadcasting from sunny, Southern California.

Steven Butala:                   Today Jill and I talk about the difference between wholesale and retail transactions.

Jill DeWit:                            There’s a difference? Hey, you keep saying I’m crowding you. Am I okay? You want to come a little-

Steven Butala:                   No, you’re fine.

Jill DeWit:                            Am I okay? All right, good.

Steven Butala:                   It’s all good.

Jill DeWit:                            Okay.

Steven Butala:                   Both of our shoulders are in the frame, it’s perfect.

Jill DeWit:                            Cool. Nice.

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:                            Brian asks, “I’m looking at picking up six adjacent parcels in Riverside County, California, in a developed area that has other small apartment complexes in the same block area. This is a high density zoning, as well as SFR residential, and I would like to target developers interested in putting in apartments. How would you recommend finding such potential buyers?”

Steven Butala:                   This is a great question. It’s the kind of question I love answering on the show, because it’s a complicated question on the face of it, and very advanced, I’d say, but the answer is so simple. The answer applies to every person who’s listening to this that’s ever owned a piece of real estate or aspires to own a piece of real estate. When you find specific use property like this, high density residential apartments, they’re very specifically zoned, typically, or there’s a range of zones, like multi-unit one to multi-unit four, that kind of thing. It’s just for sake of argument.

Steven Butala:                   In that county, or in that zip code, or the adjacent zip codes, are going to be other owners that own the property that you can see in the data based on how it’s zoned, or being used. I mean, and I’m talking about in less than two minutes you can find these, because you already pulled the data, you sent the mail out. These are the people who are going to buy these properties, and if they don’t, 50% of all property gets sold. All property and all property types gets sold to people who live or work in the immediate one mile radius of that property. Small apartments and specialty use properties, no different.

Steven Butala:                   If you talk to anybody who owns any type of real estate, or any business for that matter, they’re going to say one of two things. “Oh, this company … if I had two of these companies, I’d be done. I love this company. I love going to work there, and it’s great.” Or, “I hate this apartment building. If I could sell it right now, I would, it’s just not working.”

Steven Butala:                   So, by sending a letter to these people, whether it’s companies or [inaudible 00:02:43] owners, you’re looking for the ones who say, “Man, I really want another one, or another. I’m looking for another development project, this one’s really close to the one I already own.” You’re going to smoke those people out really quickly.

Steven Butala:                   This kind of deal is how I started in real estate back in the early ’90’s, before the internet and stuff. It’s a very special … in my case, it was healthcare facilities, like assisted living buildings and stuff. It’s specialty use, there’s only a limited number of owners in certain markets, and they’re going to buy the stuff if they’re happy with the one that they already have.

Steven Butala:                   So, you can make a little career out of this, I did for a decade, and did extremely well. A huge amount of seed cap we could put in the company that … the companies that Jill and I now have, we’ve never had to take on any debt because of that. So, you put yourself in a great spot, I don’t know if it was intentional or not, but you’re sitting a good situation.

Jill DeWit:                            That was fantastic, I have zero to add.

Steven Butala:                   That’s unusual. Today’s topic, the difference between a wholesale and a retail deal.

Jill DeWit:                            I have zero to add, just kidding.

Steven Butala:                   This is the-

Jill DeWit:                            I have one zero, zero to add.

Steven Butala:                   This is the meat of the show.

Jill DeWit:                            Uh huh.

Steven Butala:                   I overtook that question, because I know Jill’s got hours of stuff to talk about the difference between a … let’s define them first.

Jill DeWit:                            Okay.

Steven Butala:                   I’ll define it, and then you go.

Jill DeWit:                            Okay.

Steven Butala:                   You send out a bunch of mail, whether it’s house, it’s [inaudible 00:04:05], land, no matter what, a bunch of purchase agreements come back, tons of phone calls come back, and there’s two or three or five of them in there that you love, that work financially, and you buy them. You have two choices, you can mark it up and sell it to somebody else who kind of does what you do for a living, but has a different take on it. In the case of a house, it would be somebody who doesn’t really … isn’t a data person at all, but they’re an interior decorator or a contractor, and they love to renovate houses.

Steven Butala:                   So you sell them your whole … you’d mark it up for a reasonable amount of money and resell it to them very, very, quickly, within weeks. There’s no real estate agents involved. Or, you can say, and we’ve done this recently, “This house needs nothing, and we got a smoking deal on it. Let’s replace the carpet, list in on the MLS, and play the retail game.” It takes months, and there’s heartache and pain, and talking to real estate agents and users, and arguing over [inaudible 00:05:04], and all kinds of stuff. That’s a retail deal.

Jill DeWit:                            Yep. Oh, and don’t forget agents are involved.

Steven Butala:                   How’s that for a biased description of hotel and retail?

Jill DeWit:                            Wholesale, the beauty of wholesale I love, is that you’re dealing with like-minded people. You know, I’m an investor, they’re an investor. We all think the same way, we want to get it done, we don’t need to spend money on unnecessary commissions. That money needs to be spent on the assets, so everybody gets more out of it.

Steven Butala:                   Unnecessary commissions. That’s the name of the show next week. If I was a lead singer of a group, I would call it Unnecessary Commissions.

Jill DeWit:                            Unnecessary Commissions. That’s awesome. I’ll just get a T-shirt that says, “Commissions,” with a circle and a line through it. So, yes, versus … and that’s the thing, again, you’re dealing with a like-minded person. The retail … and you did a beautiful job explaining it. I think most of us know how that is. You know, we see it on HDTV all the time, where they walk in and go, “Oh, it stinks in here, I couldn’t possibly live in this house.”

Jill DeWit:                            Really? You don’t think we can’t clean this? We can replace the carpet, we can repaint, we can pull down that ugly wallpaper, we can even move a wall and make a closet there if you want it. You know, all those things can happen, and that’s the retail.

Steven Butala:                   Here’s the … were you done? I’m sorry. Here’s the financial implications of both. You know, I’m going to use an example, so here’s [inaudible 00:06:34] use the wrong the numbers. We buy a property for $50,000, we know it’s worth $200, I can wholesale it out to somebody for a 100 grand, double my money, make $50,000 in weeks, and move on to the next deal. Get a reputation for that in that environment, by the way.

Jill DeWit:                            Right.

Steven Butala:                   I know it’s worth $200,000, I can clean it up, spend some time, not move walls [inaudible 00:06:58], even if it’s just … let’s say it’s a piece of land, you’re not going to do anything to a piece of land. Maybe post it in different places, maybe hire a broker.

Jill DeWit:                            Yeah.

Steven Butala:                   Post it in different places on the internet. Spend a little more time on it. Take some drone shots.

Jill DeWit:                            Professional photographs, professional drone. Yeah.

Steven Butala:                   List it for 200 grand, knowing that, and how I’m doing this with a broker and stuff, is going to attract an end user.

Jill DeWit:                            Right.

Steven Butala:                   That’s where the problems start.

Jill DeWit:                            And sit and wait.

Steven Butala:                   The problems start in real estate with the end user, whether it’s the homeowner who’s going to move in and live there, try to never deal with them. Whether it’s the apartment owner themselves, versus the apartment renovator, apartment building owner or manager, and on and on.

Steven Butala:                   So, dealing with a customer and the end user is a whole different talent, than what we choose … the business that we choose to be in. We choose to just wholesale property out, make a 20% to 100% margin, get a reputation for that in the environment, and just keep doing it.

Jill DeWit:                            Exactly.

Steven Butala:                   We’re data people, you know? We’re not sales people in our souls.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   We just happen to be sales people by default, because we have to get this stuff done.

Jill DeWit:                            Exactly.

Steven Butala:                   Retail sucks. Retail is not set up … I’m not set up for … that’s not my personality.

Jill DeWit:                            That’s the thing, if I wanted to do retail all day long, I would be a real estate agent, because that’s really who they’re working for and with. They’re working with that end user who walks up and goes, “Ah shucks, I really wanted yellow flowers out front,” you know, kind of thing. The curb appeal didn’t appeal … didn’t do it for them, so they’re just going to keep on driving. “Okay, let’s go to the next one, and the next one, and the next one, and the next one.” That’s retail.

Jill DeWit:                            Wholesale, is really for me too, it’s a spreadsheet, it’s a line item. You’re not looking at the asset like how pretty it looks, you’re looking at, “What are the numbers on that one? Wow.” I mean, you don’t even … I mean, even to this day still with land or houses, we’re not looking at them, we are seeing them as a spreadsheet. What is a price for square foot? If it’s a house, and what is a price for acre? If it’s a piece of land. That’s even to the wholesale mentality.

Jill DeWit:                            What’s interesting too, is I wish that I could find the right agent, because when we do, sometimes accidentally, you get properties where you just know that it’s going to be sold retail, that’s really the best way to get it done, you know? Or, you don’t even plan that, but that’s who comes to you, is the retail and user/buyer. Then they’ll have an agent, and unfortunately, I wish the agents … You know, what’s interesting, is that I’m dealing with an agent right now, and it’s kind of a bummer, because he had said, “Wow, I want to be a wholesaler, I want to be an investor like you.”

Jill DeWit:                            He’s never going to get there, because he doesn’t think that way. He cannot think in the numbers part of it. I said, “Look, well all know this is the cheapest price per square foot in the subdivision, and he doesn’t … he can’t comprehend that.

Steven Butala:                   Really?

Jill DeWit:                            No, cannot.

Steven Butala:                   Oh, there’s no hope then.

Jill DeWit:                            Yes. Exactly, he’ll never get there.

Steven Butala:                   That’s all you’re buying with houses is price for square foot.

Jill DeWit:                            Exactly.

Steven Butala:                   You’re not actually buying a house, I don’t look at it that way.

Jill DeWit:                            Right.

Steven Butala:                   If the price per square foot is where it needs to be, the house doesn’t matter at all.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s the person who we’re going to sell it to, we’re going to wholesale it to? That’s their issue.

Jill DeWit:                            Right.

Steven Butala:                   In the vast majority of the wholesalers of rehabers out there, the people that go clean it up, they want a dead house, they don’t want a half done house.

Jill DeWit:                            It’s true.

Steven Butala:                   They just want it to be an absolute tragic mess, because they can go in … if you [inaudible 00:10:27] done a house, you can take everything out anyway.

Jill DeWit:                            Right.

Steven Butala:                   Even if it’s 1985 and totally tenantable, you’re still taking it all out and making it 2012 … or 2019. So, I’ve never understood retail at all.

Jill DeWit:                            I know.

Steven Butala:                   Retail real estate.

Jill DeWit:                            You know, what’s funny? What’s kind of nice? Even my parents didn’t operate that way, you know?

Steven Butala:                   Me either.

Jill DeWit:                            Which is actually really good. My parents did not operate on the retail thing. Yeah, my parents, we rented our house forever, because that was the cheapest thing, and the person didn’t change the rent, so why bother? So my parents … we stayed there for a long time, through I was graduated high school, and then they had saved up a whole bunch of money, and what did my mom do? She got a real estate license and bought a house from a bank. It was only the numbers, it was a-

Steven Butala:                   Geez, Jill, I never knew that.

Jill DeWit:                            Mm-hmm (affirmative). Bought it from the bank. You know-

Steven Butala:                   That’s why you’re crazy like that.

Jill DeWit:                            Oh, I have that like, “Ugh, got to win.” I got to win.

Steven Butala:                   Me too.

Jill DeWit:                            I got to win financially, I don’t care. I remember my mom and her girlfriends spending, you know, all weekend one time ripping off this horrible, you know, 1970’s wallpaper that was all over the house, because it was all about the numbers. The house needed all kinds of work, but, you know, it was the square footage, and it had a pool, and it was the location that they wanted. It wasn’t even that exact street, again, the numbers did the talking.

Jill DeWit:                            So yeah, that’s probably where I … I’m sure … I know a lot of that, and you too, is how we were raised. You know, where we got this mindset.

Steven Butala:                   I mean, there’s value involved, there truly is. We do both types of deals … you know, we do way more [inaudible 00:12:02] than we do retail. But once in a while, one sneaks up, and truth be told, every time it does, I regret it. I regret going down that retail path, because I know what we could have gotten … because here’s what happens at the end of a retail deal for us, we micro look at the numbers involved.

Steven Butala:                   So, and it always goes back to, “Wow, we got a … we really did sell this house for a lot more, or this piece of land than we purchased it.” But, we had all of these carrying costs, we had all this angst and talking, and there’s agents involved, and they love the process more than the end, like we talked about yesterday or two days ago. So, it’s like, “Man, if we would just would have wholesaled this out like we always do, we probably would have ended up making more money.” I certainly had a lot more fun.

Jill DeWit:                            Right.

Steven Butala:                   So-

Jill DeWit:                            You know, I think-

Steven Butala:                   But I think there’s a lot of people in our group that do great … the opposite. “Oh man, you know, I do five deals a year, and I make 100 grand on each deal, and I make half a million bucks, and I’m happy as a clam.”

Jill DeWit:                            I was thinking along those lines that the mindset … the wholesale person mindset like us is, “Let’s just buy it right, sell it right, and move on, and do a lot of them.” I like that, everybody walks away happy. The retail way for me is like, “Buy it good, and then reset the market. I want to sell it for … I want to be the one that gets top dollar, and look at what I did, and I’m justifying my existence, and I’m justifying this home is worth this, because it has the … it’s the only one around that has a tankless heater and a double oven,” or whatever you want to call it.

Jill DeWit:                            You know, it’s just like, “I don’t … why … I don’t …” What’s so funny?

Steven Butala:                   I don’t know. A tankless heater.

Jill DeWit:                            I know. So, I like those, by the way. You can add that on your house, by the way. So, you know, where I’m going with that. It’s just like I don’t have the … I can’t do it. I don’t have the patience. I think it takes patience too.

Steven Butala:                   It’s patience, and when you really, truly, look at how money works, and how fast it moves, and how to make it and all that, then there’s something driving … people who do retail deals, there’s something else driving it besides pure money.

Jill DeWit:                            That’s good.

Steven Butala:                   So, it’s not just that they’re approaching a real estate transactions this way, and that’s their model or their acquisition criteria, there’s something below the surface that wants them to reset the market from a price per square foot, or in the case of land in a subdivision, or in that area, is to reset it. They want to be the person who can high five each other … I always envision the same person who does that, is the same person who works at an auto dealership. Right when they sell a car for, you know, a sticker price, and that customer who drives off, they high five each other and say, “Oh my gosh, we screwed that guy good. We haven’t screwed a guy like that in a transaction in a long time. Congratulations, congratulations, congratulations.”

Steven Butala:                   That’s how I see retail real estate. You know, and I don’t think that it’s … it’s an extreme example. I do think that there are … there’s a subsection of people who do never … they want to move into a house, the end user, and it is perfect. Their favorite song’s playing, and they, you know, they move in a toothbrush, and it’s done. They’re happy to pay $5,000 more a month, or whatever the number’s up, it’s usually $300 more a month, than they would have if they had to, you know, move into a regular house. They understand that, and maybe they’re off doing some other type of job, and that’s fine.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   So it’s not that extreme, but we’re in the business, you know? We’re in the real estate business, and I just think hosing people and resetting the market, is just not part of the language that we should ever be just talking about or using.

Jill DeWit:                            I know. It bums me out, it just makes me sad I don’t think that way.

Steven Butala:                   Me too. That’s how I see-

Jill DeWit:                            I can’t get it.

Steven Butala:                   That’s how I see retail.

Jill DeWit:                            Yeah.

Steven Butala:                   That’s how I see real estate agents. You know, I’ve … we’ve all been pitched by a real estate agent to list our house [inaudible 00:16:03], and the first thing they say is, “Okay, we’re going to sit down and figure out how to maximize the price that you get for this house.”

Jill DeWit:                            Right.

Steven Butala:                   That’s where I stop, because that’s not the business [inaudible 00:16:13], and I think it’s disrespectful to the person who’s going to buy it, and disrespectful to the real estate industry in general.

Jill DeWit:                            I agree. I have nothing to add. You’re like … no, it’s perfect, it’s great. I mean, we could go on for hours, and I don’t … but …

Steven Butala:                   Well, you’ve done it again, you spent another 15 or 20 minutes listening to the Land Academy Show, just before Jill cut us off. Join us in the next episode called Illinois Governor [inaudible 00:16:38] property tax evasion investigation. One of my favorite topics.

Jill DeWit:                            Really?

Steven Butala:                   This guy’s a mess, you’re not going to want to miss the show.

Jill DeWit:                            Okay, good.

Steven Butala:                   Because like all shows, it’s not just about that, it’s about what motivated him to do this, and how people make decisions and why people make decisions when they are multi-bajillionaires, and they’re messing with the system. I promise it’s going to be interesting.

Jill DeWit:                            Cool, and we answer your questions, plus on our online community, landinvestors.com, it is free.

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

Jill DeWit:                            Yeah, I’m looking forward to the show tomorrow, because I do not know the whole backstory. I know you’re going to fill us all in.

Steven Butala:                   When’s the last time you’ve been really wrong in a real estate situation? In a deal? Assuming you ever should really even talk that much to a buyer and seller. What if you just said, “You know what? Man, I made an acquisition mistake on this, or …” Where you really just kind of sit … you know, those moments in life where you sit yourself down and say, “Wait, I took this in the wrong direction for a while.” Can you even think back to a time, real estate-wise?

Jill DeWit:                            No.

Steven Butala:                   Either can I.

Jill DeWit:                            I’m thinking like-

Steven Butala:                   You know why? Because we’re driven by doing the right thing.

Jill DeWit:                            Well, and I won’t do the deal, I’ll pull the deal.

Steven Butala:                   Biggest tragedies I see that people go through in life, is because they see something that’s not there.

Jill DeWit:                            Right.

Steven Butala:                   They’re trying to reset the market, they’re trying to date out of their league, or they’re just setting themselves up to fail, be disappointed, and extreme cases, go to prison, which is what we’re going to talk about tomorrow.

Jill DeWit:                            Wherever you are watching, or wherever you are listening, please subscribe and write 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.

Member Steve Manus Shares Mobile Home Lot Success Stories (LA 981)

Member Steve Manus Shares Mobile Home Lot Success Stories (LA 981)

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 with member Steve Manus, who shares his Land Academy success stories. Steve comes to us from Palo Alto, California, and BlueSkyLands.com. Before his land career, he worked with grad students and professors at Stanford University in the Department of Chemistry, and I’m sure there’s a lot more to this story than I know at all.

Steve Manus:                    Okay, good morning.

Jill DeWit:                            Welcome.

Steven Butala:                   Steve, tell us a little about your experience at Stanford and how it ultimately led to this conversation we’re having.

Steve Manus:                    Sure, and it actually did, there is a direct route. It’s interesting. I had been mostly in sales my whole life. I’ll give a very brief background, but I was not… I was always smart and did well in college and all of that, but I wasn’t some driven or motivated student in particular, and I didn’t have a real career path. In fact, I remember vividly the day I threw out all of my law school applications.

Steven Butala:                   Oh, that’s beautiful.

Steve Manus:                    It was, it was a very fine day because that’s sort of the track that I was on because I grew up in a family of lawyers and my Mom was also a paralegal when that actually meant something in the early days of paralegals when it was more of a substantial position. I just thought, “Okay, of course, I’ll just go to grad school.” I was a history major, I’ll go to grad school or I’ll go to law school in this case, and I just… the thought of actually becoming a lawyer was so abhorrent to me that I couldn’t do it. I couldn’t even apply to the schools.

Steve Manus:                    I’m sure I would have gotten in somewhere, but you grow up in… There’s a lot to say here, which I won’t, but I just remember years later going back home. I moved out from Chicago to California and I’ve been here for more than a couple of decades in Northern California. I went back for my Dad’s birthday one year, a few years ago, he’s since passed, but we were sitting around the dining room table and all of a sudden it turned into this political discussion and my politics happen to be different from theirs, it was if I was sitting in the witness chair. Prosecutor… They’re just grilling me relentlessly. I thinking like, “What has happened? In two minutes’ time I’ve gone from loving son who flew in for your birthday to God knows what?”

Steven Butala:                   That’s [crosstalk 00:02:31] the Midwest. The culture in the Midwest is like that. I’m from there, too.

Steve Manus:                    Yes, yes it is. We’ve talked about this. In fact, the Detroit, the… Yeah, because Chicago and Michigan are connected. Anyway, I went into sales and I enjoyed it and was good at it and I just didn’t have direction for many years. I wound up at Stanford some years later. I needed a job and there it was, and it was a good job. It was administrative work in the Chemistry Department. I was familiar with universities. I went to grad school myself ultimately, but this was a different world because it’s a very, very high-level world. Very high achievers, incredibly hard-working individuals. Those who become professors at Stanford, and particular in the science and engineering, are just the very best in the world, and there aren’t that many of them who qualify.

Steven Butala:                   You [crosstalk 00:03:22] mentioned in the earlier part of the pre-show that’s not on air that they were also the most unhappy group that you’ve ever met, so I love other people’s misery and so do our listeners, so I’d love to hear about that.

Steve Manus:                    Oh, happy to tell you. Yes, the single-most unhappy group I’ve ever encountered, and over the years you encounter a lot of people in life, but they stand alone. The grad students were nice. It’s fun working with them, and the postdocs are basically are the people who come after. You decide a few years after you’re a grad student to do some postdoc before you move on to whatever you’re going to do professionally. The professors themselves are in a little world of colleagues who it’s just around the planet, in all of these departments, and they travel to one another’s campuses. They give talks. This is what they do. Their activities revolve around giving all those talks, supporting their grad students and the research, and writing grant proposals day in and day out.

Steven Butala:                   Wow.

Steve Manus:                    Most of their time is spent writing grant proposals-

Steven Butala:                   Wow.

Steve Manus:                    Because everything revolves around that and competing… ultimately in competition for awards. I had [crosstalk 00:04:32]-

Steven Butala:                   It’s like [crosstalk 00:04:32]-

Steve Manus:                    That’s a huge part of it. I had one professor in particular, this guy was so good. Every year the Nobel Prizes are awarded and I was privy to his correspondence just because of the nature of my work and I would see he didn’t win, but he would send out these very nice, he’s a good man, very nice letters of appreciation and congratulations to those who individuals. This one would be in Germany and he would write in German, and this one would be in France and he’d write in French. He was a good man, but year after year you could see the disappointment in his face.

Steven Butala:                   Asking for money and trying to get published, just like Hollywood.

Steve Manus:                    It’s very similar. Yeah, it’s [crosstalk 00:05:14] just continual outpouring without fulfillment, generally. Ultimately [crosstalk 00:05:20]-

Steven Butala:                   When you were asking for grants constantly, as a percentage, do you get a grant 50% of the time? 1%?

Jill DeWit:                            Good question.

Steven Butala:                   What happens? I [crosstalk 00:05:29]-

Steve Manus:                    I think their percentages are fairly high because they’re specialists and they’re known. Again, people at that level, it’s different than some department somewhere.

Steven Butala:                   Different than us.

Steve Manus:                    Yeah, it’s different, the Academy, us, exactly. I’m sure their percentages are good, but nonetheless, they need a ton of money because they support all their grad students. They pay. If you’re getting a PhD, you don’t pay anything. You are completely paid for by that professor and therefore beholden to them for five years, day and night.

Jill DeWit:                            [inaudible 00:06:02]

Steven Butala:                   Amazing.

Steve Manus:                    Ultimately, this professor himself did win a Nobel Prize. This was years later. I happened to see it in a newspaper locally a couple of years back. I ran into him at Stanford. I was having lunch there one day not long ago and I was asking him about it and he was even more unhappy now because as a result of having won the award, people are tugging at his sleeve 24 hours a day.

Steven Butala:                   Oh, sure. He went from a four-star restaurant owner to a five-star and it wrecked his life.

Steve Manus:                    It wrecked his life. Same phenomenon, or similar enough, yeah. There we are. This is life in a nutshell and thank goodness we’re not in that world.

Steven Butala:                   As the hippie black sheep son of the family, how did you get into the land business?

Steve Manus:                    Well, I suppose I am because I’m the only [crosstalk 00:06:54] one who moved away from Chicago. I just… like you, Jack, you know how it is, everybody else remains in the Midwest.

Jill DeWit:                            That’s right.

Steven Butala:                   I’m right there with you, pal.

Steve Manus:                    Yeah, yeah. Exactly, and then you just come out here and you end up flying in periodically. I left Stanford knowing that I wanted to be in real estate. I had an inkling, and I’d had an interest, but I didn’t know anything so I was able to leave and be supported financially for a time, but I didn’t know anything and I lept off a cliff. This was 2006. It was a little bit before the downturn and I knew just enough to get myself in real trouble, serious. Things that I… I look back on it like, “How in the world would you make such a level of commitment financially without knowing anything?” I did, but the interesting part was I learned a lot in the process.

Steve Manus:                    I learned… First of all, I realized pretty quickly I had to keep us above water, my wife and myself, just the two us. I did what I needed to do and I learned very quickly, “Okay, this is what you do. You adapt. You figure it out. You move forward and you keep persevering.” You just have your eye on some type of prize. It’s a good phrase, actually, eye on the prize, but even if it might be a little nebulous in the distance, it’s very important to move in a direction. It took me a number of years until I finally landed on the land business.

Jill DeWit:                            Great.

Steve Manus:                    Having had a couple bouts of success along the way in other areas of real estate, I knew I could do it. Whatever it meant, I knew I could make money and I learned a lot also in terms… For me, a core strength is dealing with people. I’m not a particularly adept person technically, but I do have a facility apparently to get people to trust me, and it’s a sincere thing, it’s not just this people do it and they pull the wool over other people’s eyes, but I’m very sincere with people.

Steve Manus:                    In land, once I started… I actually learned the business first time around from someone who became a friend of mine. It was just one of these happenstance things and our fathers had passed around the same time, and I don’t even know how this came about, but this was like a Facebook contact of a real estate guy who I had contacted with once because I was putting together like a whole training webinar series and he was one of the people I was asking to be a part of it some years before that actual contact. He wound up calling me one night. Literally, my wife and I were walking on the Stanford campus and he wound up calling me.

Steve Manus:                    This was in the evening and we just… he was telling me about his Dad and I was telling him about my Dad and we’re kindred spirits and we’re a very similar age and he started telling me about this business he had learned from his Dad. He had gone the full circle in real estate. He was very successful and very smart and a trainer and a real teacher, not a marketing kind of guy teacher. He was saying he had been feeling nostalgic before his Dad’s passing because he had recently readopted this training method he had learned from his Dad I think 30 years before that and was again making money with it selling land, just land. His Dad was doing it until figuratively the day he died, into his 80s. I thought, “Oh, this is interesting. Something you can do until the day you die if needed, and it seems like a good gig.”

Steven Butala:                   Was the nascence of his training method essentially what we do now?

Steve Manus:                    Essentially what we do, yeah. It’s all… what we do is relatively basic. There are variations on a theme, there’s nuance, of course, but it’s the same business. I just said, “Yeah, okay, whatever. I feel like I’d be very interested to learn if you have any inclination at all.” He said, “I don’t want to generate competition for myself, et cetera, et cetera.” Lo and behold a week later, he contacted me and said, “Let’s get started”, and we did. He was extremely helpful and I began a business.

Steven Butala:                   Are you guys partnershipping deals still?

Steve Manus:                    You know, we never partnered, but we’re friends. I actually connected with him a week ago. We talked via Facebook Messenger or we’ll follow one another after that, and I was just asking for a little counsel and getting his perspective on some things because it’s… you know how the business is. Everything is evolving, and especially now because more people are getting into the business. You have to continually adapt. In one way or another you just have to figure out a way to stay on top of the wave and ride it. My wave is going to be a long one because I’m going to be doing this for a number of years yet.

Jill DeWit:                            That’s good.

Steven Butala:                   That means us, too. Obviously, we’re in this for good. What motivates me… what you just said, one of the things that you just said is… what motivates me is that, and not that I need a lot of motivation anymore, but what really motivates me is that what’s possible with this is endless. There’s an endless number of people that are doing extremely well at it in our groups and everywhere else. If I’m having a bad month, it’s just because I’m not putting into it what it needs. It’s not like the system doesn’t work. It’s not like there’s not enough land or too much competition or any of these external factors that I hear all the time. It’s just because I’m not putting enough into it.

Steve Manus:                    Yes, every time. Every time it’s exactly the same thing. I’m not getting my mailings done, I’m not getting my marketing done.

Steven Butala:                   That’s it.

Steve Manus:                    There’s nothing else. If you get your mailings done, you have to do everything else.

Jill DeWit:                            That’s [crosstalk 00:12:45] right.

Steve Manus:                    You have no choice. The phone will ring, the letters will come, whatever it is, and you then are forced to respond. There’s only one thing you need to do, and that’s mail.

Steven Butala:                   I agree, and then on the other side, you just got to post it for sale. You got to stay up with that and then it’s all the money comes pouring back in.

Steve Manus:                    Yeah, obviously you have to sell, and that’s one area that I really concentrated on because I… well, one thing is I don’t like putting out any money if I don’t have to, and I mean none, and I don’t want to get stuck with any property, period. I’ve never been stuck with one. I don’t think I ever will the way I do it, and I like to have them sold before I market them, basically. That’s my real [crosstalk 00:13:26] working plan now.

Steven Butala:                   Tell us how you do it, Steve. How do you do it?

Steve Manus:                    Okay, so I have two levels of my business, and I run a very simple business. I know you talk to a lot of people and I marvel at the levels of sophistication of some people. Seriously, it’s a wonder to behold and I’ve very impressed by what people are able and willing to do. For all of us, it’s about putting a lot of energy. In my case, I run a simple operation because I want to balance life the way… my wife and I live a very simple life. I do other things, I do teaching. I like to be able to do that and, of course, aside from the financial part, just the freedom of time. I make my own schedule and I love it.

Steve Manus:                    Very simply, right now… I began experimenting a little while ago because I knew I had to get out of where I was. It was too confining, my level of business, so I began experimenting probably last summer at this point. I put out a lot of irons into the fire and some have born fruit, which is what we want, and then, of course, I have that many more now because I want to continue to do so. Very simply, I do it at two levels. I started out with mobile home lots, and I have my little corners of Texas, and Texas has a lot of little corners, right? It’s a good place. People have their favorites. Some people have Arizona, Colorado, et cetera, but what I do you can do and see you can do it in North Carolina, Florida, it doesn’t make any difference.

Steve Manus:                    I never gave up on that area of the business, so in those areas I said… I’ve gotten to know some divisions, I’ve gotten to know areas, and I send out my offer letters. I know exactly what I can sell them for and I know exactly what I can buy them for.

Steven Butala:                   That’s the confidence piece, Jill, that we’ve been talking about.

Jill DeWit:                            Exactly.

Steven Butala:                   The confidence to pull the trigger. Essential [crosstalk 00:15:17] is that.

Jill DeWit:                            Exactly.

Steve Manus:                    There’s that funny period in the beginning where you don’t know what you’re doing. I was fortunate in that I had somebody to guide me through the beginning part of that, but even so, that always ends. You’re on your own. Oh no, of course, you provide a wonderful environment for people. Gives people the opportunity to connect, but regardless, at a certain point it’s you and your computer.

Steven Butala:                   You buy a mobile home lot, and what happens?

Steve Manus:                    In my case with the mobile home lots, I take them in. Now, I don’t pay people. Maybe once… I don’t pay anybody before I get a deed. People sign their deeds over to me and send them to me and I record them and I have a property to sell. I let them know as soon as everything is okay I’ll send them money, and I turn around and I post it on Craigslist, because that’s where I’ve sold every parcel of that type.

Steven Butala:                   Wow.

Steve Manus:                    Every parcel, and my buyers tell me about the land. I’m in California, these parcels are in Texas. They go on, they take a look, they tell me what it looks like, road is washed out, so all these things that we know about, this, that, and the other, and then I get a sense. Is it going to be a normal family that’s just looking for a homestead? There’s a lot of that outside of these cities. They’re stuck in some mobile home park with their kids, they want to give them a better life, and they’re so grateful to find a piece of land for a few thousand dollars they can move their family on.

Steven Butala:                   Steve, I’ve never [crosstalk 00:16:50]-

Steve Manus:                    That’s-

Steven Butala:                   I remember talking to you like two years ago on a consulting call-

Steve Manus:                    Yes, exactly.

Steven Butala:                   And I remember being amazed at it back then, and I’m still amazed. I don’t want you to give all your secrets up, but it’s… I remember you taking this business [crosstalk 00:17:02] model and making it your own in this very specific way.

Steve Manus:                    I did, I did and [crosstalk 00:17:07]-

Jill DeWit:                            The trust that you’ve built with these people is amazing.

Steve Manus:                    It’s really interesting, and they’re always grateful. The sellers are grateful, the buyers are really grateful. Again, for me, I get great fulfillment out of dealing with the people. I know there are people who would like never to talk with anybody, and I understand that because sometimes they drive you crazy. Yeah, right. Right. No, because you have a business where you don’t have to. It’s fun for you because the person sitting next to you happens to love talking with people. I’m a one-man show and I work with my support people in the Philippines who are great, but otherwise I get great fulfillment particularly with the buyers because they are so… I just got this couple right now. I can’t tell you how grateful they are, and yes it’s a good deal, but at the same time there’s a substantial profit in it for me. You can buy a parcel for this much and you sell it for seven times on terms, it’s pretty good but they’re thrilled. There’s a lot of that.

Steve Manus:                    Those parcels now I sell primarily on terms, and I do it very simply. I work with a loan servicing company, so they handle all the payments.

Steven Butala:                   Excellent.

Jill DeWit:                            That’s great.

Steve Manus:                    I set it up so my buyer pays the monthly fee. I don’t pay anything. I just facilitate. I get it all set up, they handle late fee, everything. I just get notices every month. Money has been deposited, and then [crosstalk 00:18:37].

Steven Butala:                   Builds our whole business around that model, around making sure that both in Land Academy and all the other companies that we have, offer sellers, that everybody’s happy. You want to make sure that the end user, person that’s writing the check, is incredibly happy. Not just us, not just the people in the middle, but all of it, including our employees. I think that’s a West Coast thing. You’re back from the Midwest. I don’t think that attitude, that we’re all in this together attitude, happens so much back there.

Steve Manus:                    I didn’t really notice it growing up, let’s put it that way. I think you’re right, but there is a Midwest friendliness that you can bring to the West Coast that’s every helpful. It’s [crosstalk 00:19:20]-

Steven Butala:                   Work ethic.

Steve Manus:                    Yeah, absolutely. It’s a tad different out here, isn’t it? No, I remember when I first came out, I couldn’t believe it. I was just like, “Who are these people?”

Steven Butala:                   Me too.

Steve Manus:                    I became one and so I understood [crosstalk 00:19:36]-

Steven Butala:                   I’m still not totally acclimated. I still [crosstalk 00:19:41]-

Jill DeWit:                            I have worked in Stockton or anything [crosstalk 00:19:42]-

Steve Manus:                    No, I believe it.

Steven Butala:                   When I get to a crosswalk, I still have to look left and right before I just barrel through, unlike the natives here just [crosstalk 00:19:52] believe that all the traffic and the whole world should stop because they’re walking down the street.

Steve Manus:                    Oh, I know. A lot of people will mention now the way things are in colleges and college kids and all of that, there’s one thing and one thing only I appreciate about their education is they learn how important it is to stop at crosswalks. It’s drilled in from age five apparently.

Steven Butala:                   In preschool in the Midwest, but not out here.

Steve Manus:                    Who knows? Who knows what’s going on? I don’t even want to know anymore. I tell you.

Jill DeWit:                            Funny.

Steven Butala:                   Can you… I’m sure… Jill, go ahead [crosstalk 00:20:31]-

Jill DeWit:                            I was going to ask about when you… with your wife, does she get it? Does she want [crosstalk 00:20:39]-

Steve Manus:                    Oh, yeah.

Jill DeWit:                            To be a part of this?

Steve Manus:                    No, she does not want to a part of it. She definitely gets it, so she works a job. We’re very different in that respect and I’ve very grateful for it because… there a number of nice things about this. One is that because of the success in my business, she was able to cut back on her house a year or so ago. She went to part time which is great. So much more relaxed and so it’s all good, but she could never live like this, not knowing how much money is coming in at the end of the week.

Steven Butala:                   I understand that.

Steve Manus:                    I [crosstalk 00:21:15]-

Steven Butala:                   Most people are like that.

Steve Manus:                    Oh, most people are, yeah, and for myself I’d just had it with these jobs and could never do it anymore.

Steven Butala:                   Me, too.

Steve Manus:                    Even in my real estate career, I had to. Yeah, right, if you really think about it, it’s just such a different life and you’re beholden in a way that either suits you or does not.

Steven Butala:                   There’s so much stuff between you and I that we’ve never actually had a conversation about.

Jill DeWit:                            Yeah, this is one of them.

Steven Butala:                   It is, I’ve never asked you if you want a real job or the job just said you. We all just assumed with each other that we just never want to do that again ever.

Jill DeWit:                            I know, and I grew up with a family which was… my Dad was a pilot, so it was a union thing. There was definitely a paycheck, everybody knew what was happening kind of thing. For me, I just couldn’t stand the time clock life, and I lived that for many, many years and

Steven Butala:                   Decades.

Jill DeWit:                            It drove me nuts. It’s very true, we all know it, Steve, you know it, that we all work more hours now, but it’s I’m doing it for me. I’m getting the benefit of it. I’m doing it by choice and I love it and I [crosstalk 00:22:26] this and I’m sure you are, too. I’m not afraid about what’s going to happen next Friday. I know we’re going to figure it out. I have all the tools and resources to figure it out. Even if it all goes sideways, there’s going to be something in here that we can work with, you know?

Steve Manus:                    Oh, yeah. Look, we have systems that we know work and we’ve got enough experience. Occasionally I have to remind myself of this or if I have some problem property that hasn’t yet sold, but every one of them has sold and it’s a very simple formula. If it’s not selling, lower the price, and it works every time.

Steven Butala:                   Every single time.

Steve Manus:                    Every-

Steven Butala:                   You got this mobile home thing going and that’s great. Do you ever consider doing other types of properties? Ranch land? Wholesaling houses or anything like that?

Steve Manus:                    Yeah, so I do have another level of business that I’ve introduced. I have that platform and it’s less… it was central, well, it was my exclusive business for quite a while, then central, and now of less importance, but it’s nice because I can bring in those monthly payments. The heart of my business now is working with what you could technically call infill lots, but I just call buildable lots.

Steven Butala:                   Oh, great.

Steve Manus:                    2.0 came out, when, was it September or something like that?

Steven Butala:                   Yeah.

Steve Manus:                    I’ve been thinking about this for a while because, I don’t know, a year or two ago, Seth Williams sent to me one of his guys who did… he was in Texas also, in Houston working with builders. He had this whole methodology and it was always in the back of my mind, and then 2.0 came out and I studied it and realized, “Oh, I can figure out a way to bring these things together.” Along the way, of course, in my business with the mobile home lots, all sorts of people contact you. I would keep notes of potential… well, just potentials, let’s put it that way. Whatever they become, but basically potential buyers. Some of them were builders and I thought, “Okay, let’s see what we can implement here after studying 2.0.” I realized they build in certain areas… they have their favorite subdivisions. Why don’t I find out what those are and mail for them? I’ll be their marketing arm and then we’ll see what that really looks like.

Steve Manus:                    I began experimenting, so I did my mailings and it was… it’s much more refined now, but initially it would be I get to… Now, I should say this up front because it’s a little different model, and Land Academy people are very creative. I’ve noticed this, and people do many, many variations on a theme. There is the tried and true offer letter, and then I have found that in other cases, for me it works to send out what some people call the neutral letter, where it’s just sort of a “I’m interested”, that sort if thing, and it is nebulous, there’s no question.

Steve Manus:                    I’ve put together a letter with a picture of my wife and me and it’s very folksy and we just like to make friends, that sort of thing and people call or they… I have a simple business. I use Google Voice and I use a CRM. There’s a CRM that I found that works very well for the land business. I put in my spreadsheets, it accepts them. I’ve got everybody there. They call, I don’t answer the phone. I respond to messages, and then I see, “There they are. Joe Smith. Oh, you have half an acre in such and such a county.” I [crosstalk 00:25:56]-

Steven Butala:                   I’m sure that really plays well to your sales background because once you get them on the phone, you can probably folksy get them to sell their property or whatever.

Steve Manus:                    Yeah, and as you know, it’s a numbers game. It’s a certain percentage. Maybe my percentages are good, but yes. Again, I’m playing to my strength. I know I can talk with people and I’ve got my buyer guides who are so grateful because in any area where it’s an active market, a geographic growth area, these builders cannot get enough properties. They’re just scrounging tooth and… they tell [crosstalk 00:26:33] me what they go through. Even though they’re building on a lot… this case, certain ones, they’re building a lot already. Can’t get enough, always need more, always great to get a property.

Jill DeWit:                            Isn’t that great?

Steven Butala:                   I’ve never talked to a builder who said, “Oh, no, I’ve got enough land right now.”

Jill DeWit:                            Yeah, exactly.

Steve Manus:                    He doesn’t exist. Doesn’t exist, and that is their life blood. It’s similar to a house wholesaling model, which I had done previously where you’re buyers are rehabber guys, and my objective, and I tell this to all of my builders is, I want to get to the point where I just tell you the address, you go out and you tell me what you can pay for it. That’s what I do with the rehabber guys. That’s all I needed from them.

Steven Butala:                   Wow.

Steve Manus:                    I can pay 90,000 for the house and I know I can buy for 80? Great, we got a deal.

Steven Butala:                   Wait, let me get this straight because this is great. You send out a letter of interest, they call back and say, “Yeah, I actually do want to sell the property.” Nobody talks about price-

Jill DeWit:                            No money.

Steven Butala:                   You call your builder, tell him to go out there, and he says, “You know what? I can pay easy 55,000 on this.” You go back to the seller and say, “I’m happy to pay [crosstalk 00:27:37]-

Jill DeWit:                            Give me a 40.

Steven Butala:                   “40,000 for it.”

Steve Manus:                    That’s right. That’s right [crosstalk 00:27:40]-

Jill DeWit:                            They’re all [crosstalk 00:27:40]-

Steve Manus:                    That’s exactly what I do, and I actually try to find… I feel them out. Not everybody knows or is wiling to say, but I always ask them just very simple, sort of in the middle of the conversation, “What are you looking to get out of this property? What do you think?” I just wait. As you know, if you ask questions and wait, oftentimes people will talk.

Steven Butala:                   They’ll trust you. They obviously trust you by the time you talk to, the seller does, by the time you talk to the builder, and that’s the key.

Steve Manus:                    Absolutely. Not everybody, but most. You know how some people are, but generally, absolutely they do. Look, I’m in the midst of it now this week, right? I’ve got a guy, we just talked yesterday, but it was the same scenario where my guys went out. I have a couple of different builders and this one will send out. In any case, they tell me and I go back and I know exactly what I can and can’t do, or I can adjust my spread, right? If I think, “Yeah, I’d like to make nine but I can make six”, I’m not going to throw away $6,000. There’s the model, and see, one of the things that I learned from you was the double your money model, because I had sort of a different mindset before that of reaching for the stars. You know how it can be. I wouldn’t take it unless.

Steve Manus:                    Now, I don’t want to do a $1500 deal, I won’t. I sort of have my limits, but I have a fairly wide range. I’m not going to throw away $4,000, because what are we talking about here? I send out a contract. These are closed through a title, so a month later I go to a notary and get a signature and send a contract back and then they send me a check or I get a wire transfer of some number of thousands of dollars. That’s my job.

Jill DeWit:                            That’s worth your time.

Steve Manus:                    I think I can manage this for $4,000 even though it wasn’t 7.

Jill DeWit:                            Exactly.

Steven Butala:                   It really is if you want it to be an eight-hour work week, max.

Steve Manus:                    It literally can, yes.

Steven Butala:                   Might not be eight hours all in one day, but you’re kind of on call but it’s still your own time if you want it to be. It ends up being a lot more for Jill and I. I don’t know why we do this to ourselves.

Jill DeWit:                            We can’t stop.

Steve Manus:                    Well, it’s your natures. It’s your natures, you guys really like working. I like being busy, but I don’t like working that much, to be honest because I like doing other things. No, it’s exactly that, and I don’t care if it’s 7 o’clock on a Sunday morning, it’s just-

Steven Butala:                   Yeah, me, too.

Steve Manus:                    None of it bothers me, it’s great. Are you kidding? If I have properties that are listed and people are calling me at 7 AM California time and we make a deal by 7:30 and then they send the money via PayPal that morning before I even get them a deed? It’s wonderful.

Jill DeWit:                            Totally.

Steven Butala:                   That’s a win.

Steve Manus:                    It’s a win. It’s a win.

Steven Butala:                   Well, you’ve done it again. You’ve spent another 15 minutes or so [crosstalk 00:30:36] listening to The Land Academy Show. Join us next time for another interesting episode 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:                   Steve, it’s a pleasure talking to you. It’s really all came back to me.

Jill DeWit:                            That’s so cool.

Steven Butala:                   I remember you scheduling a call and if I remember right, you sold out of a subdivision, like a whole sub, right?

Steve Manus:                    I did. I did, and I actually went back to that subdivision recently and I got five more deals.

Steven Butala:                   Yeah, something like 40 or 50 or [crosstalk 00:31:07]-

Jill DeWit:                            That’s awesome.

Steven Butala:                   70 transactions or something [crosstalk 00:31:09]-

Steve Manus:                    I did, yeah.

Steven Butala:                   In one little area.

Steve Manus:                    I know, it’s amazing. I thought it was played out by now. I know how many people are mailing there because I get these letters. Doesn’t seem to make any difference. If you hit them on the right day, it just [crosstalk 00:31:21].

Steven Butala:                   That’s it.

Jill DeWit:                            That’s it. That is so awesome. We’re [crosstalk 00:31:24]-

Steve Manus:                    The gift that keeps [crosstalk 00:31:26] on giving.

Jill DeWit:                            It does. Wherever you’re watching or wherever you’re listening, please subscribe and rate us there.

Steven Butala:                   We are Steve and Jill [crosstalk 00:31:34]-

Jill DeWit:                            We are Steve and Jill.

Steven Butala:                   Information-

Jill DeWit:                            And inspiration-

Steven Butala:                   To buy undervalued property.

Steven Butala:                   Great to talk to you, man.

Steve Manus:                    Thank you, I appreciate you both very, very much. You’ve made a great [crosstalk 00:31:42]-

Steven Butala:                   Thank you [crosstalk 00:31:42]-

Steve Manus:                    Difference in my life.

Steven Butala:                   Thank you, that’s [crosstalk 00:31:45] great to hear and thanks for the short notice. Not a lot of people just jump in and turn a camera on. When I say a lot of people, I mean, Jill.

Steve Manus:                    That was good. I tend to work mornings and then I have my afternoons free. I was out at the ocean walking and I thought, “Yeah, well, we can do this, even if this is afternoon. All I have to do is call in”, so yeah [crosstalk 00:32:05]-

Steven Butala:                   Great.

Steve Manus:                    Happy to do it, so absolutely.

Jill DeWit:                            We’ll [crosstalk 00:32:08] see you on the call later today, right?

Steve Manus:                    Yes, I will be there today.

Steven Butala:                   Great.

Steve Manus:                    1 o’clock.

Steven Butala:                   Thanks, Steve.

Jill DeWit:                            Thank you.

Steve Manus:                    Thanks a lot, guys. Bye-bye.

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.

How Men and Women Approach Land Investing (LA 980)

How Men and Women Approach Land Investing (LA 980)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            I was going to say something like “Guten tag.” Then, I was trying to think, “Hola.” I’m like, well, that’s boring. And then I was thinking of another language and, buenos dias. Here we go.

Steven Butala:                   This is perfect reaction and entrance intro. The differences between men and women.

Jill DeWit:                            Uh oh.

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to the Land Academy show. Land, investments, real estate talk. I’m Steven Jack Butala.

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

Steven Butala:                   Today, Jill and I talk about how men and women approach land investing.

Jill DeWit:                            I love it differently among other things.

Steven Butala:                   It turns out, there’s some differences between men and women in general in life, and it’s not that far off from the differences in how we approach investing in land, and they both have equal and incredibly valuable merit and contribution to getting stuff done. That’s kind of what the show is to talk about. It’s not to dog on each other, although that may happen. It’s actually to celebrate our differences and use them to make some dough.

Jill DeWit:                            Exactly.

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

Jill DeWit:                            Nancy asks, “Hello. At the moment, I am paycheck to paycheck, but I can probably get $250 up in the next month for a deal. What I’m asking is would someone be willing to go half on, say, a $500 wholesale deal and split any profit? This way I can get my feet wet and hopefully earn some cash so I can do other deals on halves and split again. Then, eventually do deals on my own. I have to benefit and learn from the sales side of business and eventually earn enough money for a monthly membership, where I can then learn the acquisition side. The only experience that I have real estate as a few years back, I wholesaled a house.” Well, that’s good.

Steven Butala:                   That’s good. Really good start.

Jill DeWit:                            “Got it under contract. Then assigned the contract to another, the second one I did. I was not able to find anyone for the contract and had to let it go back.”

Steven Butala:                   You got your feet wet.

Jill DeWit:                            Yeah. Yeah. That’s really great.

Steven Butala:                   What’s your advice to this person?

Jill DeWit:                            Hey, it’s a creative way to get started and I don’t think it’s nuts. The only thing is I’m not sure how much … I guess I’d have to talk to and just find out what she’s able to contribute, including the $250 towards it. Could you help me with the marketing part of it? Can you help me with this? Each person’s equally doing some of the work to justify splitting the profit, not just one person doing all the work of one person sitting back and observing. I’m just being honest. What are your thoughts?

Steven Butala:                   I’m going to paint a picture here. It’s a very accurate picture of a material number of people who are listening or watching this right now.

Steven Butala:                   I don’t have any money. I have a pretty good job. I live in her house or an apartment, and I’m going to work just like the rest of the world every day, wondering what’s going to happen. Not Wondering, but trying to put a plan together because I really just don’t want to do this job that I’m in the rest of my life, but I don’t have any money. I make enough to pay the bills with a little bit extra, which I end up spending on beer every month, even though I tell myself I won’t. Just to keep my sanity.

Jill DeWit:                            This is awesome. You’re like, let me just give you a hypothetical situation, and it’s down to the beer money. This is awesome. Let’s talk about specific. Yeah, and my car payment came due and I forgot, and shoot, I have to register my cat. I forgot all about that.

Steven Butala:                   That’s real life right there.

Jill DeWit:                            Yes, okay.

Steven Butala:                   In the back of my mind, I’m thinking, like every other person who has started in real estate, me included, and this is incorrect by the way, I’m thinking I got to save up some money for a down payment on some real estate, or in our case, some dough to buy a piece of property to just get this thing kick started. That couldn’t be further from what you should be thinking about. Forget about the money. I’m telling you, you probably heard the all guys like me say this, you’re going yeah, yeah, forget about the money, but that’s because you have a bunch of money. That’s not what I mean. I really mean this.

Jill DeWit:                            You do sound like you’re 80.

Steven Butala:                   Forget about the money. If you come to us or anyone else in this group, and you spent the last six months learning how to buy and sell real estate listening to these podcasts, you don’t have to join. It’s just learn how to use the mail, understand data, and really absorb.

Steven Butala:                   We have a person who is on our staff right now who sleeps, eats and breathes every time they’re off work, buying land. Of all the people we’ve ever had work for us, I’ve never seen any more potential than this one guy. If that’s you, forget about the money. Learn how to do this. Eventually get a subscription. If you want to save up for anything, save up, and I’m not selling anything. Become a member or figure out how to get access to some data somewhere or whatever, until you can actually afford to do it the right way, which is join our group.

Steven Butala:                   Then, get some mail out and bring in some great deals. At that point, you still don’t have any money, right?

Jill DeWit:                            Right.

Steven Butala:                   You’re still going to this stupid job and you’re buying a quarter barrel every month.

Jill DeWit:                            You’re buying a what?

Steven Butala:                   A quarter barrel of beer because it’s cheaper than … Nevermind. See, that’s the difference between men and women. I know what a quarter barrel is, and she knows what kind of champagne she’s going to drink tonight.

Jill DeWit:                            I did not know what a quarter barrel is. That’s true.

Steven Butala:                   That’s what we’re going to talk about in the real part of the show.

Steven Butala:                   Now, you send a bunch of mail out, you still kind of don’t know what you’re doing and you don’t have any money. Totally okay. Some deals are going to come back. Some people are going to sign some. You’re going to look at these deals and you’re gonna say, all right, this looks, to me, because I’m so educated, self educated over the last six months, like a great deal, I’m going to go on the Thursday call with us or Wednesday webinar and ask about it. Ask if somebody wants to do the deal, and people are going to come out of the woodwork to partner this thing with you.

Steven Butala:                   Shoot a lot higher than an extra $250. Don’t let money stop you. Forget about the money you need to find a great deal, a signed purchase agreement. That first deal, let’s say it’s $14,000, 8,000, $6,000, some number like that and you know it’s worth 40.

Jill DeWit:                            Right.

Steven Butala:                   Jill and I will do that deal with you all day long through our deal funding channels and so will 400 other people in our group.

Jill DeWit:                            Exactly.

Steven Butala:                   That’s what you should focus on. Is that?

Jill DeWit:                            Beautiful.

Steven Butala:                   Okay, good.

Jill DeWit:                            Thank you.

Steven Butala:                   Today’s topic, how men and women approach land investing differently. This is the meat of the show.

Steven Butala:                   It’s no secret that men and women are different, and I will go as far to say this, it is never going to change. You can spend a lot of time like my parents did, arguing about that, and sitting there and staring at each other saying, “I just don’t understand why you don’t understand me,” or you can manage it like Jill and I do personally and professionally and say, “Yeah, Jill is driven by emotions and generally about talking and feeling your way through a transaction, making sure everybody’s happy at the end of it, including herself.”

Steven Butala:                   That’s not to say she’s not technical, because she’s a licensed pilot and she can rip through a spreadsheet like nobody I’ve ever seen. I’m just saying she approaches doing a real estate transaction 180 degrees differently than I ever will. That’s what makes us great partners.

Steven Butala:                   I think a lot of people really look at anyone else that’s different than themselves, male or female, or from another country and say, “Man, that person’s really different from me. There’s no way I can work with that person or get along or I’m not going to keep an open mind about it,” when what they should be saying is, “Yeah, Joe completely approaches this stuff differently. How can we work together to make this better?”

Steven Butala:                   That’s the gist of it. Men and women look at everything differently. Since the 1960s in this country, there’s been this massive movement to, some people call it equality, some people call it all kinds of stuff, when in fact we should celebrate it, and really not just celebrate it, but utilize it to our own benefit.

Steven Butala:                   I mean, did you write some stuff about how we do deals differently? That’s the big picture difference here. I’ve always wondered why this is such a big problem.

Jill DeWit:                            Well, you know what interesting about this, I was thinking about it and I don’t think I’m the typical woman, honestly.

Steven Butala:                   I don’t either.

Jill DeWit:                            For me, it was kind of hard to come up with some things. I do know that we are typically, as far as the decision making process, we are typically more conservative, which is often a good thing.

Steven Butala:                   But together I think we are. Oh, you mean women?

Jill DeWit:                            No, I mean women aren’t typically … I mean, excuse me.

Steven Butala:                   She says we, not Jill and I as a lifelong dedicated committed partners.

Jill DeWit:                            No, I’m talking about talking about the topic.

Steven Butala:                   A different “we,” the gender “we.”

Jill DeWit:                            I’m talking about the topic of the show “we.” We women, you men. You quarter keg, whatever that is, quarter barrel. I know what a keg is. You don’t do a quarter keg. That’s quarter barrel.

Steven Butala:                   Oh, Jill.

Jill DeWit:                            Sorry, I am all confused. I know what trawler is, right? Is that what that is called?

Steven Butala:                   Oh, a growler. A trawler is a large fishing boat.

Jill DeWit:                            Boat. Anyway, clearly, I’m not a great beer … I appreciate a good beer, but I’m not a beer connoisseur, obviously. So, there we go.

Jill DeWit:                            Okay. Anyway, traditionally, we make decisions differently. I was trying to think about, okay, how we approach land investing differently? I think, yeah, number one, our overall business set up might be different. The way we would organize our things for men. Again, when it comes to making the decisions, we are typically a little more conservative on the buy side. Hopefully, not on the sell side, but just kind of extra checking things, which is not a bad thing.

Jill DeWit:                            I’ve seen this in other relationships where he’s all in to this and she says, “Wait a minute, what about this?” And he goes, “Oh, I missed that.” Where it’s a good thing. It’s usually a good Yin and Yang. It’s a really good thing.

Jill DeWit:                            About the communication, I mean, the way people communicate, I mean, I know men that talk a whole lot, too.

Steven Butala:                   Let me ask you a couple questions.

Jill DeWit:                            It’s a tough one.

Steven Butala:                   Let’s take it back to the third grade level here. Let’s just ask you a bunch of questions.

Steven Butala:                   Forty acre property comes in in San Bernardino County, and it comes in from the mail, from a former offer campaign. What’s the first thing you do?

Jill DeWit:                            Look it up.

Steven Butala:                   Where? Give us a lot of detail.

Jill DeWit:                            ParcelFact. I just wrote a blog on this.

Steven Butala:                   You look it up on ParcelFact. What do you check for?

Jill DeWit:                            Well, here, let me tell you real quick. I wrote a blog on it. I did a blog real quick and it’s how to do a quick due diligence in five minutes, and it’s two minutes in ParcelFact, two minutes in Google Earth, and one minute in just somewhere out there just to double check your pricing, [crosstalk 00:11:43] comes back.

Steven Butala:                   Well, can you answer it because I want to see if it’s the same thing I do.

Jill DeWit:                            Okay.

Steven Butala:                   Because I want to know if it’s different based on gender or just maybe how we approach this. I don’t know.

Jill DeWit:                            Okay. The deal comes in. I pull up on ParcelFact, I’m checking, confirming I’m talking to the right person, first of all. If I’m not, I’m not even going to bother anymore there. Make sure I have the right person. I’m looking over the … It’s in my face now.

Steven Butala:                   Go ahead.

Jill DeWit:                            Thank you. I’m looking at it on the map real quick. I’m looking at access. I’m looking at the grading. I’m doing some quick eyeball stuff there, just-

Steven Butala:                   Have you talked to the seller yet?

Jill DeWit:                            Well, you know what? Honestly, I’m looking at a signed offer. I’m either looking at a signed offer, [inaudible 00:12:23], or I’m talking to him on the phone, theoretically. This is while I’m on the phone with them.

Steven Butala:                   You don’t go through any of this until you actually in your head know it’s for real?

Jill DeWit:                            Oh yes. Correct.

Steven Butala:                   You’ve already established price.

Jill DeWit:                            Yeah, I’ve got the signed offer. I’m now deciding if I want to do with the deal.

Steven Butala:                   Good. Me, too. I won’t spend any time on it unless I know it’s real.

Jill DeWit:                            No. That’s the same with deal funding. When people submit things, they … I had one submitted the other day where there was no signed purchase agreement and they said, “I have them at this price. I’m trying to get them to this price.” I’m like, why are we even talking? Please don’t submit it until you have a deal and you’re happy about it, thrilled about it, and you’re comfortable with and confident with it. You’re not just like, “Hey, what do you think?” That’s for this deal thing.

Jill DeWit:                            We’re on the same page there. It’s got to be done, locked in with an offer price, seller ready to go, purchase agreement in hand. Now, I’m going, how good is this property? Was it priced right? Do I even want it now? What if it doesn’t have access? What if it’s on a hill? What if it’s got so much back taxes on it, it’s more than what the property is worth? All these things are possible. Or what if, too, the person that I just sent whose name it’s in, died six years ago and no one did anything about it. We need to confirm all those things first and I can do all of that in ParcelFact real quick.

Jill DeWit:                            Then, I go to the next phase. Now, I’m getting more eyes on it. Checking the grading. Does it look like a flood plain? Is there going to be an issues there? Are there people building around it? Does it look like that area has utilities? Some other things there. This is just a quick five minutes.

Jill DeWit:                            Then, last, I’m double checking the price, too, if it passes all those tests. If I spot something, it doesn’t mean I’m going to stop. It means I’m making a note like, all right I need to pull that and I need to pull that, kind of thing, or somebody does.

Jill DeWit:                            Then, the last thing is I’m double checking my pricing. I might do a quick little glance around it to see what’s out there, available at the same size. What are they asking? Does it look like things are moving in this area still? Because some of these offers are how many years old, too, that we get returned?

Jill DeWit:                            Then, it’s either, after five minutes, it’s a yep, take it to the next phase, spend a little more time on it, or it’s we’re not doing it because one of those things it didn’t pass.

Steven Butala:                   I have a much more condensed approach. The property comes in and I assume that it’s a real deal. I immediately go into ParcelFact, find the boundaries, which takes seconds. I put it into Google Earth and realtor.com at the exact same time. I’m checking for exactly one thing. Can I sell this property for two to three times what I know I can purchase it for? That manifests itself in the following way. Is there like kind property that’s listed for a lot more on realtor.com right now, and in the very immediate area if not next to it, number one?

Steven Butala:                   Number two, while Google Earth is loading, I’m dumping in GPS coordinates, and I literally go into Google Earth and create a video, which I may or may not record. This is all in the first 30 seconds of the deal coming in. This video, how I perceive this video, usually doing a circular thing around it, standing as if I’m standing and looking up. Maybe there’s mountains around it or whatever’s around it, other properties, trees and stuff. Does this video look unbelievably fantastic? Because that will sell the property.

Steven Butala:                   I’m not even thinking about buying it. I’m actually thinking about the exit strategy in the first 30 seconds. How am I going to get out of this thing before I get in it? I think that may drive men specifically in their decision making. Men are famous for not wanting to commit to anything. They’re no different here. No different. I do not want to own this property for more than 15 seconds if I have to. I just want to create some equity.

Steven Butala:                   I don’t want to go through a big process. I don’t want to talk about it. I don’t want to have any emotion about it. Oh, run the other way. I just want to convert it to more cash.

Steven Butala:                   While I don’t think you’re the regular female at all, ever, I do think that there are people that enjoy the process more than they enjoy the end. We’ve all experienced both genders, both genders, but I specifically have been exposed to a lot of women in my life that, not socially or anything, just work people and all that.

Jill DeWit:                            That’s okay. You don’t have to explain anything.

Steven Butala:                   We have people that we work with right now, not in our staff, but colleagues that love the process of buying real estate. They’re still relatively new at this, and they love to go through the whole talking through it and looking at all the contracts. We buy and sell a lot of houses with them as partners. They love to go there and walk through the house and all of it.

Jill DeWit:                            Do you know what my cure for that is?

Steven Butala:                   Bankruptcy?

Jill DeWit:                            No.

Steven Butala:                   That’s where you’re going to be headed. If you love real estate and you just love everything about it, this isn’t for you. If you love data, this is for you.

Jill DeWit:                            Tell me when you’re ready. Are you ready now?

Steven Butala:                   Yeah.

Jill DeWit:                            That’s not my care. My cure for that is if you’re sending out enough mail, you quickly don’t have enough time to do that. That’s the bottom line. I don’t have time to, and I’m seeing so many deals now. It’s not my first, second, third, fourth, tenth, twentieth, hundredth. I’ve seen enough deals now that I can. I’ve learned a lot. I’ve learned from you. I learn from the best you know how to eyeball this and make quick decisions and move on to the next one.

Steven Butala:                   Well said.

Jill DeWit:                            Thank you.

Steven Butala:                   And I’ll wrap up on this because I did have making mental notes on the show. There are certain people on this planet that have to finish stuff. Jill And I happen to have that personality. When we start something we have to finish. In a lot of cases, and it’s probably to our detriment, we can’t start the next project unless the one before it’s finished or at least substantially finished in functioning, in good hands, let’s call it. Again, I got exposed to a lot of women in the workplace that have a problem finishing stuff.

Jill DeWit:                            Is this kind of, I need to get this out there? Is it weighing on you?

Steven Butala:                   When is it not? These shows are all read between the lines, it’s just Steven ranting about whatever he’s upset about. It’s all bundled up in a pretty package next to me and real estate.

Jill DeWit:                            The real topic is-

Steven Butala:                   Being angry.

Jill DeWit:                            … What annoys Steven about how women and men approach land investing. That’s really what the topic is. Let’s just call a spade a spade. Why is this not ending how I thought it would?

Steven Butala:                   I don’t think people choose listen to a podcast because they violently disagree with the people that are talking on it.

Jill DeWit:                            Violently. You vocabulary’s like none other, Steven. I got to tell you. I really do love that about you. I violently love you about that. I’m going to write that down, too. That’s our new word for the day. Whatever you do, go at it violently.

Steven Butala:                   We’re going to get sued over this stuff. Please don’t do anything violent.

Jill DeWit:                            No. Meaning with aggression and get it done. I want you to violently tackle that spreadsheet today. That’s what I mean. Not violently drive home.

Steven Butala:                   Oh, Jill.

Jill DeWit:                            That’s so good. Seriously. That’s a new one.

Steven Butala:                   Well, you’ve done it again. You spend another 20 minutes or so listening to the Land Academy show, if you can call it that. Join us next time for the episode called, “Member Steve [Minish 00:20:30] shares mobile home lot success stories.”

Jill DeWit:                            It’s good. We answer your questions, post it on our online community at landinvestors.com. It’s free.

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

Jill DeWit:                            The only thing I wrote down and I was trying to think, what can I talk about how men and women are different? But one thing that, I love that this is mostly a guy’s world, and I love being a woman in the guy’s world. Shaking things up.

Steven Butala:                   You’ve said that over the years, and I think that’s great.

Jill DeWit:                            Well, you know what I don’t think they expect me to know what I know, and I don’t think they expect me to come up with the ideas and get things done like I do. I actually just kind of love the shock.

Steven Butala:                   You’re very good at and very comfortable adapting to the environment that you’re in at the time.

Jill DeWit:                            Thank you.

Steven Butala:                   I don’t think it’s for unhealthy reasons. I think some people do that just to be accepted because there’s this underlying problem. I think you do it just because you want to get in there and have some fun and contribute and reap the benefits from whatever the environment is. I think there’s a lot of problems in the world, way bigger than this show, where people have a tough time acclimating to the environment that they’re in and they fight it. They fight to be accepted for who they are instead of when in Rome, acclimating themselves into …

Steven Butala:                   The behavior that I have on this show, in front of this camera is absolutely different than how we are in a live event and completely different than how I would be presenting in a board room to raise capital for a new company. That’s not just one Steve. It’s whatever environment, and you’re very, very good at that.

Jill DeWit:                            Thank you.

Steven Butala:                   I think I’ve seen a lot of women really fight that because they just want to be accepted for who they are.

Jill DeWit:                            That’s true.

Steven Butala:                   I can go into it. I can talk about this for hours and hours and hours.

Jill DeWit:                            No, we shouldn’t. That’s okay. Thank you. We’re good.

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

Steven Butala:                   We are Steve and Jill.

Jill DeWit:                            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.

Division of Responsibilities in a Partnership (LA 979)

Division of Responsibilities in a Partnership (LA 979)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Good day.

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

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

Steven Butala:                   Today, Jill and I talk about the divisions of responsibilities in a partnership.

Jill DeWit:                            Sounds boring.

Steven Butala:                   It just occurred to me that this is my all-time favorite way to avoid work is these recording sessions.

Jill DeWit:                            Who wrote this? Did you come up with this title?

Steven Butala:                   Yeah.

Jill DeWit:                            It sounds a little-

Steven Butala:                   Did I write this title?

Jill DeWit:                            I’m sorry.

Steven Butala:                   No. My personal assistants and full time staff did.

Jill DeWit:                            I know. It’s very corporate because you’re not usually a corporate guy. So I’m like division of responsibilities in a partnership.

Steven Butala:                   It’s not like, hey let’s sit down and see what you’re responsible for and what I’m …. That’s not what I mean. What I mean is I love doing the data and pounding it in the mail, and you and your people love to answer the phone and make these deals happen. That’s what this is all about. It’s not like we sat down and said, “You do that, and I’ll do this.” We just naturally fell into it.

Jill DeWit:                            Come on, let’s be honest. It was rock-paper-scissors. I lost. I’m just kidding.

Steven Butala:                   Here’s my big question, and we’ll get into it in a second. If we had to flip roles, would we succeed? If I had to be the wife and you were the husband-

Jill DeWit:                            Based on my laugh, what do you think?

Steven Butala:                   I know. [inaudible 00:01:23] the answer.

Jill DeWit:                            We’ll leave it at 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:                            Luke asked, I would like to know if parcelfact.com, our website that we use for due diligence, may have a GIS function so that there may be a layout … Hold onto this one, this is a good question … So that there may be a layout of all the adjacent and neighboring properties or lots with their addresses. We can use these lots or houses and to check the flood zones, comps, things like that. There’s all kinds of things you can use for the surrounding properties.

Steven Butala:                   What he’s asking is so when you go onto Parcel Fact, you look up a property. It’s state, country APN. It beautifully pulls up a property, with dimensions and exactly can really make a fast decision about whether or not you want to buy it. What he’s asking is, yeah there’s lots of properties that surround it all over the place. What if I could click on those and know who owns it so maybe I’d buy the property, maybe I’d contact the person next to it and see if they want to sell or buy this property really fast. And the answer is hell, yes. We are probably 30 days away from recording … By the time you hear this, it’ll be a lot less. 30 days-ish, let’s just say 60 from this functionality come into reality.

Jill DeWit:                            Yep. It’s being created right now.

Steven Butala:                   It’s something that … This is a great question. It’s one of the reasons I included it. I want this. Everybody does. I want to see who owns the property next door too.

Jill DeWit:                            It’s awesome. I actually looked at the beta. I was kind of approving it yesterday.

Steven Butala:                   Shut up. You saw beta?

Jill DeWit:                            Yeah, we’re way down this path. I got the beta and the only thing what I’m having them do right now is the beta has … I said, “Include everything.” I don’t want just a top 10 statistics. I want a box this long as I hover over that property so I can decide what information I want to extract from that. I don’t want it just to give me the normal ones like the name, the address, the APN, maybe the assessed value and things. I want all of it. I looked at that and I said, “This is great. But right now it’s all in abbreviations.” Right now I said, “Come back to me, give it to us all in not gibberish-

Steven Butala:                   Not developer speak.

Jill DeWit:                            Exactly. I just looked at that yesterday. So as a matter of fact-

Steven Butala:                   Was it cool?

Jill DeWit:                            Yeah. It’s awesome.

Steven Butala:                   Was it like, “Wow.”

Jill DeWit:                            Yeah. It going to be all this. It’s going to be so darn cool.

Steven Butala:                   Of all the things that you could film and leak to the internet, this would be one of them.

Jill DeWit:                            Yeah. Just imagine, you go in state, county APN, there’s all your property, and it has … You’re hovering over the property where you pull the property up, you have seller information, you might have mortgage information in there, you have zoning. And like Steven said, the full map and now you’ll be able to hover over and click all around it and go, “That guy owns that?” Oh I see what these are all worth whatever such-

Steven Butala:                   This is a classic example of the owner of the company is the last person to know. And all the cool stuff passed. It all goes live, and I didn’t even know anything. You know why they do that [crosstalk 00:04:42]. You know why people do that? Because they don’t want the owner’s opinion. And the owner’s only, at this point where we are now, I just slow stuff down.

Jill DeWit:                            You’re working on other more important things Steven.

Steven Butala:                   I am actually.

Jill DeWit:                            You really are.

Steven Butala:                   This episode, by the way, might be one of those situations where the question is a lot more interesting than the topic. Let’s find out.

Steven Butala:                   Today’s topic, The Division of Responsibilities in a Partnership. This is the meat of the show. Let’s answer the question. If our roles were reversed … I’m the data person, I’m the mail person, I’m the data scrubber and locating and all that stuff, and you’re the closer and seller. If we reversed our roles tomorrow, could we make this work?

Jill DeWit:                            Yes.

Steven Butala:                   I think so too.

Jill DeWit:                            Would it be as easy? No. Would it be as fun? No. Would it be as profitable? No. Would it be as smooth? Nope. And it certainly would not be as efficient. It would take me longer on the data side, and it would take you longer just getting up the gumption to answer the phone.

Steven Butala:                   What is this?

Jill DeWit:                            It’s a bracelet.

Steven Butala:                   It’s look like a shackle from the 18th century.

Jill DeWit:                            It’s a bracelet, but somehow whenever I move, it pops off my wrist.

Steven Butala:                   It looks like handcuffs from the 18th century.

Jill DeWit:                            You bought me that.

Steven Butala:                   Oh, I’m supposed to remember that.

Jill DeWit:                            You buy most of my jewelry.

Steven Butala:                   Why does it keep falling off [inaudible 00:06:06]?

Jill DeWit:                            I don’t know. It’s a sign. I don’t know. Break free.

Steven Butala:                   When your spouse’s jewelry looks like shackles, ask yourself some questions.

Jill DeWit:                            That’s awesome. All right so-

Steven Butala:                   I could not have answered the question more exact or more similarly than you did. I think we could do it because that’s who we are. We’re entrepreneurs and we’d get through it and we’d find a way to do stuff. Would it be fun or normal or natural like it is? No.

Jill DeWit:                            No. I have some other points if you want. As always, I pore over every podcast topic for at least an hour. I sleep on it. I review my notes the next day. But I did spend some time, seriously, thinking … I’m not kidding, I did.

Steven Butala:                   While you were writing the sentence of the topic title.

Jill DeWit:                            No.

Steven Butala:                   Spent some time thinking about it.

Jill DeWit:                            I wrote some notes. I did really spend some time on this because I do, I like to bring my best self to this show, and I have some things to share. What I thought about this topic is well, number one, about the division of partnerships. There’s always things that one person is better at, and I put use talent was my note. There’s things that, maybe you don’t even like doing it, but you’re good at it, you’re talented at it. You should do it. At least-

Steven Butala:                   There’s nothing that I’m good at that I don’t like.

Jill DeWit:                            That’s good. But for some people I’m sure that’s the case. I think some people there are things that like, man, you’re really good at X. I know I am.

Steven Butala:                   Yeah, there is. There’s some stuff I can’t stand that-

Jill DeWit:                            You don’t really like it, but you’re really good at it. You’re like-

Steven Butala:                   Like sports.

Jill DeWit:                            There you go. Football.

Steven Butala:                   I’m very good at sports, and I hate playing them.

Jill DeWit:                            There’s a good example. But you took one for the team, ha, ha, and played in high school. And then it stopped. There’s a good example. You have a partnership, I’m assuming, and you’re listening to this or you’re planning to have a partnership so as you’re doing that, think about the things that you are better at and think about, at least in the beginning, you should be responsible for those things. Don’t make your other person struggle and learn. When it takes you five minutes, it’s going to take them an hour. Do it and then you can train someone. Or hire someone who is also good at that to replace you at some point.

Jill DeWit:                            The second thing is with dividing up the responsibilities, a reason why you want to do that is you don’t want to be doing double work. What we have learned, you can’t really take your acquisition sheet and draw a line in the middle and go, “You call on those, and I’ll call on those.” They’re doing double work.

Steven Butala:                   No, geez, no. That would never work.

Jill DeWit:                            Right. I’m trying to help people here too.

Steven Butala:                   Here’s how we do it. The anatomy of an acquisition, if you’ve been with us for a couple of years you’ve heard me say this maybe a million times. The anatomy of a deal is exactly the same. It’s never changed since caveman times. There’s acquisitions, engineering and sales, and I’ll even throw in pre acquisitions, which is get the data, choose a county, scrub it all down. Acquisitions, engineering, sales you can visualize it. There’s a certain point where that stops, and I call it pushing it to sales.

Steven Butala:                   I do the pre acquisition, we get it all in the email, I purchase it. Jill’s involved in purchasing it only to the point where she speaks with the seller to make sure that they’re going to sell. Then we go through the engineering part, which is get it all ready for the internet with pretty maps and videos and stuff, and we push it to sales. From that point forward, I don’t look forward or back. I move on to the next deal. And usually there’s hundreds of these deals going on at the same time, and I don’t care what happens to it. I literally do not care and don’t want to know. Because we trust each other. That’s part of this. And she turns it back into money. I take some money, buy it, make it look pretty, and she converts it back into more money.

Jill DeWit:                            Thank you. Exactly. And that’s the thing. You don’t want to be doing double work. You want to have an arrangement at some point like that.

Steven Butala:                   There’s no circumstance where I say, “I was thinking about mailing this one county in Montana. What do you think?” Never. That never happens. She just trusts me. On the flip side at the end where she’s like, “I’m really having trouble selling this thing,” she doesn’t ever think to come to me to talk about it. It’s just a distraction.

Jill DeWit:                            Wouldn’t that be funny? That would be funny.

Steven Butala:                   It would be awful.

Jill DeWit:                            If you said, “Hey Jill, I’m not feeling good. Can you finish this mailer?” And I’d be like, “Sure. Will you follow up on these phone calls for me?”

Steven Butala:                   By the way, you cannot and should never attempt raising children this way.

Jill DeWit:                            Hey, did the first two years. It’s your turn.

Steven Butala:                   Yeah, that’s what I mean. He’s not a baby anymore, and he’s out of diapers. You’re up. I’ll see you when he’s nine.

Jill DeWit:                            Call me when he’s 18. I’m getting an apartment. Mommy loves you.

Steven Butala:                   He needs to talk about condoms now. You’re up. I’m going to leave for a couple of years.

Jill DeWit:                            Exactly. He stinks. Your turn. I was great where there was the puppy phase. Now I’m out.

Steven Butala:                   That’s actually how it went. That’s how it’s going. This is the truth.

Jill DeWit:                            That’s kind of true.

Steven Butala:                   I love the teenage years. I really do.

Jill DeWit:                            I did the girl.

Steven Butala:                   Yeah, that’s true.

Jill DeWit:                            That’s fair. My final point is when you divide up the responsibilities in your partnership, one key thing though is you have to have some form of great communication. And preferably … I want to say something about this … where there’s not a lot of talking. Because-

Steven Butala:                   God bless you.

Jill DeWit:                            You do things in a different way in a different pace. And I do things in a different way in a different pace. What’s really great … actually I didn’t tell you this … I’m watching our team develop this skill right now. I’m so thrilled. I have a Head of my IT working with the Head of everything else, and I’m watching them have less communication, less talking, and they have committed to this spreadsheet where they leave questions for each other. They’ve committed to replying to each other in there. They know exactly where they stand, when items are going to be completed, if there’s any hiccup in the process. And then that way too, I don’t have to drop everything at 1:00 because I have a meeting. My time might be best between 3:00 and 4:00 today, and their time might be best between 1:00 and 2:00. They do theirs. I do mine. It just works out beautifully.

Jill DeWit:                            I was also listening to this too. I was thinking about it because when I listen to the Wharton School of Business in my car on Sirius, and I was listening the other day about-

Steven Butala:                   You mean between the four blocks between our office and the house. You listen to the radio?

Jill DeWit:                            Yes, I have a five-minute chunk of time. Exactly right.

Steven Butala:                   Jill puts her car in first gear, burns the tires off. Just burning rubber for four blocks and then parks it. That’s how far it is.

Jill DeWit:                            I come in RRR as I slide in.

Steven Butala:                   Puts 1.2 miles on her car every day.

Jill DeWit:                            Pretty much, yes. We’ve taken a few trips in my car. I think I put 4,000 miles on my car last year. I was looking at that. It’s kind of funny. Anyway, I’m watching them do that while I was thinking about this company and they were talking about strategies and things that they do because they have employees all over the world. You have to do this. You can’t have a meeting every day when you’re all over the world in different time zones. You have to set up things like this for communication. Anyway, that’s my final point.

Steven Butala:                   When I was at KPMG and before that, wherever we worked people our age, communication’s a huge thing. This is even before email or email was used but it was only used for certain stuff and nobody really used it or understood it. Communication is part of continuing education constantly and the overtone was the more talking, the better. You’ve got to communicate what you’re doing. You have to constantly tell everybody, “I’m moving from this thing to this thing. I’m going in a little bit of a different direction. What do you think?” Constantly on conference calls. Remember that? You’d sit in a conference room on a conference call, that big spider looking thing is in the middle of the conference room table and everybody’s sitting there talking. That is so far from efficient, it’s ridiculous now. There’s CRMs and ways that people from all over the world can collaborate in a single application to get a transaction done in minutes. And it used to take months.

Steven Butala:                   I remember an old boss of mine talking about communication before FedEx. You’d either talk on the phone or send something in the mail. The U.S. snail mail. Keep up with those times. Get a partner that’s on the same page about the amount of communication that you need or don’t need. Jill and I are very lucky with that. Even in our personal life. Some guys can get talked to death by women. Literally. Literally they die because they’ve been talked to too much. And some women just sit around smoking a cigarette wondering why their husband never talks to them. You have to choose a partner in life and, all kidding aside, in business that where the communication level everybody just basically understands it.

Jill DeWit:                            That’s a very good point. You’re right. Thank you.

Steven Butala:                   Well, you’ve done it again. You spent another 20 minutes or so listening to the Land Academy show. Join us next time for the episode called, How Men and Women Approach Land Investing Differently.

Jill DeWit:                            Love it. We answer your questions posted on our online community landinvestors.com. It is free.

Steven Butala:                   You are not alone in your ambition to get a new teleprompter.

Jill DeWit:                            I’ll share mine. I have one.

Steven Butala:                   I really can read. I just can’t operate a … never mind. You do have one. Maybe we’ll use yours.

Jill DeWit:                            I do have one. You can use mine. All good. Wherever you are watching or wherever you’re listening, please subscribe and rate us there.

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.