Jill Friday – Pricing Like a Seven-Year-Old (LA 1856)

Jill Friday – Pricing Like a Seven-Year-Old (LA 1856)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Hello.

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

Jill DeWit:
And I am Jill DeWit, broadcasting from the valley of the loyal sports fans. We have the Brewers, we have the Packers, and we have the Bucks. You think I’m kidding?

Steven Jack Butala:
No, we’re not kidding.

Jill DeWit:
We have, in the days that we have been here, seen some amazing, awesome, loyal, crazy fans, in a good way crazy.

Steven Jack Butala:
And some real estate too.

Jill DeWit:
Oh yeah, that too.

Steven Jack Butala:
Some great real estate.

Jill DeWit:
Do you think they picked the green because everything else is so green?

Steven Jack Butala:
Yeah.

Jill DeWit:
Okay.

Steven Jack Butala:
I do.

Jill DeWit:
Okay.

Steven Jack Butala:
Jill’s from Southern California where everything’s brown.

Jill DeWit:
Yeah.

Steven Jack Butala:
So she’s getting a good taste of Fall green and some colors changing.

Jill DeWit:
These are what trees are supposed to look like.

Steven Jack Butala:
Yeah. This is what nature looks like Jill.

Jill DeWit:
I didn’t know that.

Steven Jack Butala:
Not in a desert.

Jill DeWit:
Sorry. That painted wall with the cow on it, isn’t that the same thing?

Steven Jack Butala:
Today’s still Friday. She’s going to talk about pricing like a seven year old.
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. And I want to tell you about a time back in the day when it was impossible to find land that didn’t have a post office address, like 123 Main Street. People don’t assign properties an address until they want to do something with them. So all you have is an assessor’s parcel number and a state and the county that it’s in. Well, it was very hard to find property. We solved it. We wrote, we commissioned parcelfact.com. So where you can just type in the state, the county, the APN, right when you’re on the phone with the seller and find out a lot about the property. Enough to know anyway, really quickly whether or not you want the deal to continue or stop right there.

Jill DeWit:
Exactly.

Steven Jack Butala:
Check it out. parcelfact.com. We’re proud of it.

Jill DeWit:
Cool. All right, back to the question.
Mark wrote, “My partner and I are looking at mailer pricing. We are using concierge data to scrub and send the mailer. We’re using many counties next to each other to get enough properties to do the mailer. The prices per acre very considerably on the different counties. Any thoughts on how to price?”

Steven Jack Butala:
Absolutely. At the end of concierge data, you’ll get the entire mailer file back in Excel. Just like we teach, it’s nothing out of the ordinary at all. Just like we teach in chapters three and four of the of Land Academy 3.0. And you have to assign a pricing scenario, usually a percentage of resale, 25%, 30% or whatever number you choose. And it can vary widely from county to county, state to state and certainly zip code to zip code.
So, what we do is we enable a concept called testing for reason, which is not my concept at all, it’s actually an accounting concept where you test for reasons. So what we do, just like on the Thursday call, you have to ask yourself this question, “If this mailer came back priced just like this, would I buy it?” That’s testing for reason. And if so, at 25%, if you’re saying, “Heck yes, I would absolutely buy it.” At 30%, “Yeah I still would buy it.” At 40%, “I’m not so sure.” Then maybe 30%, so I should price the mailer. And I go over this in great detail all the time on a Thursday, we have a weekly Thursday webinar call where everybody in the whole group gets together, throws a bunch of deals at Jill and I and we say, “Yeah, you should absolutely do this deal,” or “Well wait a minute.”

Jill DeWit:
And here’s why, both ways, here’s why I love it and here’s why I don’t love it.

Steven Jack Butala:
So that concept or that train of thought, “Oh my gosh, yes, you should do this deal.” That’s what I want you to do before you send the mailer out. I want you to take 20 or so per zip code tests and get it to that pricing to the point where you’re saying, “Heck yes, I would do this deal.”

Jill DeWit:
That’s an easy way to look at it. Kind of like a seven year old would.

Steven Jack Butala:
Yes. Yes. Today’s topic, well it’s still Friday, she’s going to talk about pricing like a seven year old.

Jill DeWit:
Yeah.

Steven Jack Butala:
This is the meat of the show.

Jill DeWit:
The wording I’m going to explain today is more like why pricing a seven year old can work. Because that’s really it. So what the heck are we talking about? So you’re new to Land Academy, like Matt was saying here, you’re trying to figure out pricing. I did the concierge, it came back and you gave me all the answers I need like how much right now active and sold, what the price per acre is for all these properties that I’ve had you scrub for, download and scrub.
Now the last piece for me is to put the dollar amount on the offer. What percentage of those numbers am I going to use to send them out in the mail? How much time do I need to spend on it? So the joke came from the advanced call of the day, “Pricing like a seven year old and why it can work,” is because when you’re new, you don’t have to spend the time to have a PhD in it, to get the mail out. If you wait and don’t send any mail until you feel comfortable enough that your like, “If I’m as close as I can be at Jack’s level, I’ve spent a year and a half on it, I’m now going to get the mail out because I need to really dig in and understand this and have a PhD in Excel and this and pricing and whatever. Now I can push the button and confidently send the mail out.” You’re never going to get there. Sometimes you have to take a step back and do the best you can and just get the mail out.
And the point is today, wait a minute. Well how can I make that work? So here’s the deal. This is why you have both of us. You have Jack to ramp you up as fast as possible. You have the screen share. If you’re [inaudible 00:06:18], you know what I’m talking about. You are going through it next to him side by side. You have one screen on Jack and one screen on George and you’re doing this and you’re doing that and you’re like, “Okay, that looks like okay I got it,” and then I’m sending the mail out and then you may feel like I just priced it like a seven year old. How the heck is this going to work?
Well you know what? That’s why you have me. Because I’m here and I’m showing you and telling you and helping you and talking to you, like on these Thursday calls, exactly what to say to make it work. You can find a deal. I can find a deal out of darn near everything or darn near anything I should say. So what I mean by that is once a mail goes out and now the calls come back, maybe you priced way too low. Okay, we can work with that. I can add money. I can talk to these people and find out why and I can explain, I did my best. It might have been off, I’m now understanding why and what is your number and let’s talk.
And then maybe I came in way too high. Great. Now everybody loves me. I get to reel them back in. But the advantage there is I had so many deals come back at me. Everybody freaks out about everybody loves me. I price these offers way too high. Everybody wants to sell. Oh my gosh, I totally missed something. So what? You’ve got now even more to sift through.
See these are good too because now instead of getting 20 back, you got 200 back. So what? Go through them. You know how to do this. Put them in your spreadsheet, put them in air table like I do, assign them all a number, however you want to organize them all, the best ones down to the worst ones. What I mean, what’s the best and the worst? You know what to do. You know the six A’s. You should have those columns in your spreadsheet. Does it have access? You could even make little columns. This is what I would do. Access, yes, and is it paved or dirt or gravel? Whatever it is. Make 20 columns if you have to. For your six A’s make it be 16 A’s. And then you’re going to go, “Oh, these properties have all my little check marks. Well those go to the top and all the ones go to the bottom.” Now, and again this is because you over mailed, but I would do this on every property anyway.
But now just take those top ones, go back, look them up, go back to those people and just say, “I know I sent you 30,000, I meant 12 and I’m really sorry, I didn’t realize it was not as close to X. I thought whatever…” You can come up with something and say, “I know you’re all excited but this is my new number, if it works for you, great, I’m ready to go. And if it doesn’t, I totally understand and please hang onto this and sleep on it and if a week from now 12 makes sense and you can wrap your head around that, I’ll be right here and I will get this deal done so fast it’s not even funny.” And just move on. Go down the list. And you’d be surprised how many people would say, “I kind of thought 30 was high.”

Steven Jack Butala:
You’d be surprised.

Jill DeWit:
Yeah. I kind of wondered where you were all going with that one, because you’re not my next door neighbor and you’re not trying to expand your farm. That would be the only thing I could think of why you would over offer because we all know it’s not worth that. So pricing like a seven year old can work.

Steven Jack Butala:
I think if you ask a seven year old basic questions like, “Do you want the pretty one or the ugly one?” “I want the pretty one.” “Do you want it to be cheaper or more expensive?” “Oh, cheaper.”
And so that’s where this topic came up, because a person in the career path alumni group literally is involving his children in the pricing and that’s where the whole title came from. We were all laughing about, it’s like I asked my seven year old to review my pricing, literally.

Jill DeWit:
That’s funny.

Steven Jack Butala:
And so I think that young children, you can learn a lot about simplifying all the crap that we put ourselves through, through asking young children.

Jill DeWit:
Isn’t that great? Daddy’s going to teach you Zillow tonight after dinner. Wouldn’t that be cool? And we’re going to talk about Zillow. See this? You’re going to put in the zip code and you’re going to look up… Yeah. Yeah. That’s called acres. Yep. See the five, the four. There you go. Once you put in two to 10, there we go. And you’re going to get it and then sort price low to high. And I want you to, in this little box here, write down the number that pops up for the very first property.
Wouldn’t that be great?

Steven Jack Butala:
Yeah.

Jill DeWit:
We could all do this.

Steven Jack Butala:
Sure.

Jill DeWit:
By the way, I’m not condoning this, I don’t need to have your whole family sitting around. That would be funny. The fastest way to have everybody turn against you is every night at dinner they all have to do this. “No TV for you.” But if you pay them, that could work. Pay them in ice cream. That Steven, you could pay your seven year old in ice cream and teach him Zillow.

Steven Jack Butala:
Simply is almost always better than harder.

Jill DeWit:
That’s true.
Happy to join us today. Five days a week. You can find us here on the Land Academy Show.

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

Jill DeWit:
Why didn’t we do that? Maybe we did it wrong. We took the kids when they were older and tried to teach them.

Steven Jack Butala:
They were older.

Jill DeWit:
Yeah, I know. If we started them younger like this and taught Zillow at the age of seven, we might be a lot further.

Steven Jack Butala:
Some kids love it, some kids don’t. I think that earlier you get them involved the better. Jill and I have three kids and none of them are really interested in doing this, but they’re all interested, very interested in other stuff. So that’s all that matters.

Jill DeWit:
You know what’s funny? Is number one’s coming back around though and asking about some stuff.

Steven Jack Butala:
Oh, I didn’t know that. That’s good.

Jill DeWit:
Yeah. And this is a good thing to talk about. We should make a whole show on this. I’m going to end on this, because there’s a lot of people that come to Land Academy with the intention of making it a family business. And we should have some open discussions about this and Discord. I’d love to know what other people have done to get their college age or maybe they have young children age. A lot of people have said, “Hey, I’m here Jill, learning Land Academy and I want to teach my kids because I want to know that they’re always going to be able to put food on the table.” I’m like, “Brilliant.”

Steven Jack Butala:
Yep.

Jill DeWit:
So it’d be fun to talk more about. Thank you for tuning in.

Steven Jack Butala:
Career Path is coming up in October.

Jill DeWit:
Oh yeah. And we’re probably three and a half weeks away. It starts October 12th, FYI. So if you’re interested, go to landacademy.com/careerpath and if you have any questions, send a note to support@landacademy.com.

Steven Jack Butala:
We are jack and Jill. Information…

Jill DeWit:
…and inspiration…

Steven Jack Butala:
…to buy undervalued property.
Out.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com
https://houseacademy.com
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.

Jack Thursday – All the Decisions You Make Add Up (LA 1855)

Jack Thursday – All the Decisions You Make Add Up (LA 1855)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Hello.

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

Jill DeWit:
And I’m Jill DeWit. Broadcasting from the valley of the cheese curds. I first-

Steven Jack Butala:
Burned Wisconsin.

Jill DeWit:
I first learned about cheese curds in Seattle. Now why Seattle has good cheese curds? I don’t know, maybe a lot of people from cheese areas like Wisconsin have relocated to Seattle. If you know The 5 Point Cafe, that’s the first time I experienced them. And then I have to say here in Wisconsin, now I found some even better cheese curds. So sorry, Seattle. They rock here.

Steven Jack Butala:
Maybe it’s because the weather’s the same.

Jill DeWit:
That’s it. Wisconsin people can move to Seattle because they can handle it. That actually makes sense.

Steven Jack Butala:
This is a personal note. I don’t know why you need to deep fried cheese. It’s already good enough.

Jill DeWit:
It’s really good. I know.

Steven Jack Butala:
It really kind of wrecks the taste.

Jill DeWit:
I know, but you know what? And then it’s breaded and there’s maybe beer in there a little bit? I don’t know. There’s just-

Steven Jack Butala:
They’re not bad.

Jill DeWit:
They’re super good. And you know what’s great? When you get good ones, you know they’re good ones. They’re not all tater tot shaped. You know they’re real. And so thank you. I love them.

Steven Jack Butala:
Today’s topic, all the decisions you make, add up. 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. Don’t forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. It actually helps us create content that’s similar to what you like.

Jill DeWit:
Cool. Will wrote, “Has anyone funded a deal as a JV? Anyone that has…” Excuse me. “… funded a deal as a joint venture, were you listed on the deed? And is anyone willing to share a sample or template of the agreement you used?” I will.

Steven Jack Butala:
It sounds out too well.

Jill DeWit:
Yeah. It’s on landfunding.com. And it’s on landinvestors.com. So if you want to go and see my sweet little EC two page agreement… And that’s just a starting place. That’s kind of what we use. I mean, it really is what we use. But if you want to change it up like, “Can we do this? Can we do that? Can I change this? Can I change that? I’m going to put in some money and then I’m going to do this. And then you put in money, you do that. And here’s the percentages now because of this.” It’s all negotiable.

Steven Jack Butala:
A contract is an agreement between two people and the content of that agreement and the provisions and all of that stuff is what you both decide on and sign and date. That’s it. If you’ve ever taken a law class or basic law class, they’ll teach you that. Or if you’ve ever spoken with a good attorney, usually with the drink in hand they’ll tell you that. Why-

Jill DeWit:
Is that what makes him a good attorney?

Steven Jack Butala:
Yes. In my mind.

Jill DeWit:
Okay.

Steven Jack Butala:
What gets confusing about this, especially in real estate is because we are so brainwashed by the National Association of Realtors that… And the state departments of real estate where we are, whatever state you’re doing deals in. And real estate agents have no idea. They just do stuff that the person in the cubicle that sits next to them does-

Jill DeWit:
Told them to do.

Steven Jack Butala:
… or their broker. So you end up that way with a two inch thick document that allows you, air quotes, to buy a piece of real estate. And none of that’s necessary. And so contracts for joint ventures… People who do joint ventures like us are a little bit more intelligent about it. And so we know that a one or two page contract that spells out what’s going to happen if it goes south or what’s going to happen if it goes great. That’s all you really need and if something does go south, who’s going to handle it? You can put all that in your two pages.

Jill DeWit:
And whose name is on the deed and how that’s going to go.

Steven Jack Butala:
And maybe 50-50 works for you. Maybe 60-40 does, Maybe 70-30. I don’t know. So there’s no… We’ve been brainwashed to think that there’s some form-

Jill DeWit:
You have to use it.

Steven Jack Butala:
… when you do a… There’s no form. You can create your own form. I have a peeve about this.

Jill DeWit:
I hate paperwork.

Steven Jack Butala:
Real estate agent… I do too.

Jill DeWit:
I hate it just for people to just do it.

Steven Jack Butala:
Real estate agents have no idea that you can buy a piece of real estate without that damn contract. It’s really frustrating. Or they have no idea, and especially not because we sign everything online, that you can take a red pen and cross out 90% of it and still get a real estate deal done. They really believe that you have to do it. And their brokers are telling them they have to sign here and here and here and here. Or you can’t do the deal. That’s just not the case.

Jill DeWit:
Isn’t that funny? I got one sent back just today, as a matter of fact, because there’s one initial missed. Big whoop.

Steven Jack Butala:
Oh, but geez. An initial?

Jill DeWit:
An initial on a page. In the middle of the page was a missed of initial. Everything else was signed. I’m like, “Really?” It was fine. We just did a quick little DocuSign. But the fact that the agent had to go to my transaction corner, who then had to come to me, it’s like, this is really… It’s funny.

Steven Jack Butala:
Boy, you really just got to swallow that.

Jill DeWit:
Oh yeah. We just laughed about it.

Steven Jack Butala:
If you get philosophical about it, it’ll crush your soul.

Jill DeWit:
Oh yeah. Let it go.

Steven Jack Butala:
Today’s topic is, well, it’s Jack Thursday. And I’m going to talk about quite simply how all the decisions you make add up. This is why you’re listening. You have choices. It might not feel like it if you’re younger. You have a lot of choices. You can choose to join Land Academy or not join. You can choose to go to college or not choose. Those are big decisions. You can choice to have children or not have children. But if you’ve made a choice to join a group like Land Academy and then you don’t send a mailer out, that’s a choice. And it’s a pretty small choice in life, but it’s pretty much going to end one way.

Jill DeWit:
That’s true. You’re right. This is good stuff.

Steven Jack Butala:
All these tiny little… If you choose to rob a liquor store when you’re 16, they don’t… And then the choices that you make after that may not be, but maybe you might be attempting to make up for that for a long time. They all add up. So the choices that Jill and I have made for what’s better or for worse, have us sitting next to each other in a 24 foot RV in the middle of Madison, Wisconsin happy.

Jill DeWit:
Talking about cheese curds and beer.

Steven Jack Butala:
And happy. Yeah. I mean I’m happy. I hope you are.

Jill DeWit:
I am.

Steven Jack Butala:
I wasn’t always this way.

Jill DeWit:
Where did this come from? I’m just curious. This is such a big picture. Awesome.

Steven Jack Butala:
It’s Jack Thursday.

Jill DeWit:
I know, but it’s not data related, so that’s why I’m confused. You have me all confused. I don’t know who this person is.

Steven Jack Butala:
I really think that we all need to, and you and I included, all the time need to step back and say, “I’m making a bunch of decisions today.” Including, “Should I have a Coke or a Diet Coke?” Because there’s results that happen with that.

Jill DeWit:
That’s fair.

Steven Jack Butala:
And they all add up and we spend a lot of time, I know I do, undoing a bunch of decisions that I made that I wasn’t thinking about at the time and they add up. 152 Cokes are going to add up in not a good way.

Jill DeWit:
So interesting when you think about it. Even though you’re like, say you have a boss. You have a job and a boss, and your boss is telling you what to do. You have a decision. No, seriously. To do it or not. And how well you’re going to do it and get up and go to work. And every little thing it’s really up to you how hard you want to work at it.

Steven Jack Butala:
I’m a huge fan of playing out of bounds. I always have been. But if you go too far out of bounds with a lot of things, with anything, it’s not good. And so you have to decide where you are in that line.
I distinctly remember a conversation really early on when we started Land Academy where this woman that joined said that she’s a rule follower. And I never really heard anyone say that out loud. I knew there were people that did follow rules. But so she wanted a lot of direction and of course we gave it to her. But she said over and over, I am a rule follower. What’s the rule on this? And it made me start to think how much… And Jill’s middle name is “how do I get out of this?”

Jill DeWit:
My rules don’t apply to me.

Steven Jack Butala:
Yeah. Rules don’t apply.

Jill DeWit:
Exempt. My middle name-

Steven Jack Butala:
Exempt.

Jill DeWit:
… is exempt.

Steven Jack Butala:
Right. Just all I’m saying is, and this episode does not need to drag out, every tiny little decision you’re making is going to add up to something where you want. And I think that if you first decide what do you want it to add up to and then work it backwards to making out all those decisions that lead up to that, you’re going to be a very happy and satisfied person. Rewarded.

Jill DeWit:
That’s the key. I was just thinking that. If you have this goal up here and all your decisions are going to that goal… Or even not just a goal, your mantra. Or just like, “I’m going to be a good person.” And so all my decisions are going to be, “Ugh. Yeah. But I’m a good person. This is the right thing to do.” Then you won’t. That’s how you do it. I love it. Thank you. Happy you could join us today. Five days a week. You can find us here on the Land Academy Show.

Steven Jack Butala:
Tomorrow is Jill Friday and she’s going to talk about pricing like a seven year old.

Jill DeWit:
Yep.

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

Jill DeWit:
Exactly. Looking forward to that.

Steven Jack Butala:
Me too.

Jill DeWit:
It’s good. It’s going to be good. Yeah. “Jill Friday, talk about pricing? Oh, I got to tune into that one.”

Steven Jack Butala:
Yeah, I got…

Jill DeWit:
That’s what everybody’s saying now.

Steven Jack Butala:
I want to see this too.

Jill DeWit:
Wait, wait. We just had the big picture, philosophical Jack. Now we have Jill talking about pricing. Oh, but like a seven year old pricing. This is going to be good. Yeah, it’ll be fun.
Hey, thank you for tuning in. And again, we hope you find our content valuable and we really do appreciate your support. So if you haven’t already, zip on over to our YouTube channel. Hit the subscribe button and please comment on the shows you love. We are Jack and Jill. Sorry. Want to do again?

Steven Jack Butala:
Yeah.

Jill DeWit:
Okay. We are Jack and Jill.

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

Jill DeWit:
… and inspiration…

Steven Jack Butala:
… to buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com
https://houseacademy.com
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.

Jack’s Career Path Alumni Advice (LA 1854)

Jack’s Career Path Alumni Advice (LA 1854)

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 the Valley of the Beer.

Steven Butala:
Oh yeah. Milwaukee’s close.

Jill DeWit:
Yeah.

Steven Butala:
Didn’t think about that.

Jill DeWit:
Oh, exactly.

Steven Butala:
We’re going to test that tonight.

Jill DeWit:
Oh yeah, we had something night. What was the Amber? The Shocks?

Steven Butala:
Yeah. What was that?

Jill DeWit:
I can’t remember the name of that Amber Beer, but it was delicious. There’s a… I’m going to cycle through a few of them tonight too.

Steven Butala:
Yeah,

Jill DeWit:
I’m going to get to know.

Steven Butala:
We’ll give you a report.

Jill DeWit:
The good. All I keep hearing is good Wisconsin Beer. I know about the other good stuff you have.

Steven Butala:
Yeah.

Jill DeWit:
So cool.

Steven Butala:
Today Jill and I talk about, well, I’m going to talk about Jack’s career path alumni advice, because I was asked to.

Jill DeWit:
Oh, by whom?

Steven Butala:
By somebody. Well, on the first Tuesday of every month.

Jill DeWit:
Oh.

Steven Butala:
We have a career path alumni.

Jill DeWit:
Oh yeah.

Steven Butala:
It’s somebody this time asking-

Jill DeWit:
The call.

Steven Butala:
… Hey, what’s the advice you’d give us?

Jill DeWit:
What’s your top thing? And that was good and I’m glad you’re bringing that up. So…

Steven Butala:
Before we get into it, let’s take a question posted by one of our members on the online investorscommunity@landinvestors.com. It’s free. And I want to tell you about Concierge Data. Last year, several people came to us and said, “We don’t like doing mailers. We just want to be on the phone and do deals. We’re deal makers help us.” So we developed a product based on how we send our own mail out called Concierge Data. If you go to offers to owners.com, that’s our mailing company and ask about career, about Concierge Data, they will tell you exactly how we will do your mailer for you and take it right to the bitter end with the exception of pricing it. We’ll do the whole thing for you. It works. Tons and tons of people use it. It got so overused a couple months ago, we had to shut it down, but it’s back.

Jill DeWit:
Sure.

Steven Butala:
We had to restaff it and we hired a bunch of people and it’s working out great now.

Jill DeWit:
Yep. It got bogged down. We fixed it. All right. Aaron wrote. Okay, equity planner type question. Maybe Jack has an idea about this. How many properties would you need to have on the market at any given time to have a very high chance of closing that month? I’ve reached out many of you, and of course everyone will feel differently based on what areas they target, et cetera. But what do you think? Do I need 10 properties on the market at that time to be confident? You’ll see some income in a month. Maybe you feel like you need 20 or just five. Any thoughts?

Steven Butala:
So this is a sales funnel question and the only way that you can ever quantify a number like this two days ago we did. This is all subjective. Some people need to have 40 properties in the pipeline to feel great. Some people need 10. Some people don’t think about it and they still do a lot of deals. So it becomes a sales funnel scenario at the top of the funnel. Our is the largest number. You send out 10,000 thousand mailers, you’re going to get 90, a hundred, 200 phone calls back. You’re going to get 10, 20, 30 viable transactions. And depending on who you are, you’re going to choose from those transactions how many deals to do. And I can tell you, if you do the exact same thing over and over and over again, you’re going to get a different result. It’s just how it is. So this is very, very, very subjective and I can’t give a number.
I can tell you what I think and I would love for you to tell us what you think. I like having 10, at least 10 properties on the market. Some of which are properties that are priced at or over retail that we just know we’re going to sell. Because the attributes are so great and it takes a year to sell them. And we make hundreds of thousands of dollars. We have several properties like that because of where we are in our lives. Some property we just price and listed two properties today that are grossly underpriced in my opinion, just because we kind of want to get rid of them.

Jill DeWit:
My turn.

Steven Butala:
Yeah.

Jill DeWit:
This is a hundred percent I think based on what’s happening in that area, days on the market current and how well you priced it, period. If you want to do one a month, you can do one a month. I’d have a couple at least five in there. But if you priced them, if you have five good properties, right with all six A’s you bought them. You bought them well. You priced them very competitively. Not retail, not too cheap. They’re in there and you are in really good areas and you’re reaching the right people. You’re going to sell, You are going to sell two or three a month and you won’t have to think about it. That’s my answer.

Steven Butala:
That’s good. I haven’t talked about it in a while, but I have a bucket three concept. Bucket one is exactly what Jill described. Buy for 10 or 20, sell for 40, 50. You know it’s worth 90. It sells that day. That’s bucket one. Bucket two is I’m going to sell, buy this property. I’m going to list it for a little bit more than I think maybe retail and I’m going to hang out and wait. Bucket three property is, I’m buying this property, I’m subdividing it. It’s going to take a couple years when I’m going to make a few million dollars. And so I think you should always have, and not just bucket three is subdividing you. You’re doing something to it for some type of long haul result.

Jill DeWit:
Right.

Steven Butala:
So a good healthy mix wherever you are in your career, for the longest time we only ever did bucket one property. So it’s up to you. Subjective.
Today’s topic, my career path alumni advice. Bless you.

Jill DeWit:
Thank you.

Steven Butala:
This to [inaudible 00:05:28] to the show. Somebody asked me on the last career path alumni call.

Jill DeWit:
This is cool.

Steven Butala:
All right. All right Jack, just give us some advice. So big picture advice to really start blowing it out. The person that was asking those questions already doing incredibly well. He and his wife. They just wanted some advice and I gave it. And then other people in the-

Jill DeWit:
I like this.

Steven Butala:
… In the group said… Gave us all their opinions too, which is really invaluable.

Jill DeWit:
Before you launch into the answers, can I just say, I like this. It was really well thought out and put together. It was like, all right, I heard it was towards the end of the conversation, we’d already been talking for an hour and a half and it was like. They needed one more nugget. Jack. Just come back to big picture stuff here. What’s your high level advice that you think I should do to really hit this home? And you’re like, All right, I’ll tell you right now. And you just, it’s like you sat back and rolled up your sleeves and it came right out like natural.

Steven Butala:
Yeah.

Jill DeWit:
It was really good. So will you please share.

Steven Butala:
Number one, create a subgroup of people that you identify with in Discord. Or if you’re in a career path, create a group where you all get together on at three o’clock in the morning on Wednesday or whatever works for everybody and talk about stuff. I still have a lot of friends from high school and college where we’ve done professional things in the past and we still keep up and we have. So that’s a natural progression to being in an education group and all getting to kind of know each other. And the vast majority of the people that are in the group you don’t really identify with, but there’s two or three or four people and you end up doing deals together. So I found out about this last career path that this four or five people, they’re all doing deals together. They talk and so-

Jill DeWit:
Yeah, they have their own little, their own get togethers and stuff. I’m like, this is brilliant.

Steven Butala:
… Right. Number two, look for partners with different skills. If Jill and I were both great at doing mailers, this wouldn’t work. She loves doing the sales part. I love doing the mailer part. I handle the education, She handles the real estate and it seems to work out really well. She’s got her employees, I have my employees, we have our own money. That just seems to work out. But if we are all the same, I don’t think it would work.

Jill DeWit:
No.

Steven Butala:
I know it wouldn’t.

Jill DeWit:
No, you’re right. This is good.

Steven Butala:
So look for partners that if you don’t have a lot tons and tons of extra money, look for a partner with a ton of money. Because I can tell you right now, we’re the partners with a lot of money and we’re not that interested in doing our own real estate deals as much as we are partnering with somebody who continues to do all the work .

Jill DeWit:
And it’s the perfect fit for those people. They’re like, Jill, good because I don’t need you. I calling me every day.

Steven Butala:
Yeah.

Jill DeWit:
I got this. I just need you to give me the money. Done.

Steven Butala:
I can’t express this enough. Number three, you have to send out at least 10,000 pieces of mail, maybe 20. Twenty’s good. And you need to be really careful about it. Where you send it. You need to spend a tremendous amount of time trolling for places that… Look at the past mailers that you sent out. If you had real good experience between five and 10 acres in a one area, then go back there and mail out one to five acres or 10 to 20 acres or mail out mobile homes. Get real creative with, But you got to get that mail out or this doesn’t work. It’s like if you own a convenience store that, and it said, we’re open 24*7 and you’re only open eight hours a day, you’re going to make one third of the money or whatever the number you just have to that. I.
T’s the equivalent of opening the store doors. They have to be open for you to make money. And then the third thing is try to hit new markets. If you’re into that, we don’t do that so much anymore because we have so much experience about where we’re comfortable and we have teams built there of real estate agents. But if you’re new, you need to find new markets. And the way to do that is troll and send out mail.

Jill DeWit:
I’m still open to new markets. Are you?

Steven Butala:
I’m totally open to new markets.

Jill DeWit:
Yeah.

Steven Butala:
In fact, we inadvertently are involved in new markets all the time because it’s deal funding.

Jill DeWit:
So it may not be like, That’s not my passion every month to go sit there and do it. It just happens now.

Steven Butala:
Yeah.

Jill DeWit:
You get enough momentum, things just start happening automatically, which is beautiful. Thank you so much.

Steven Butala:
Sure.

Jill DeWit:
Happy to join us today. Five years a week. You can find us here on the Land Academy Show.

Steven Butala:
Tomorrow. The episode on the Land Academy show. Well, it’s Jack Thursday. As if this wasn’t. I’m going to talk about a how all the decisions you make, they all add up. You are not alone in your real estate ambition. Heard that in a movie released recently and it just smacked me in the face.

Jill DeWit:
What’s that?

Steven Butala:
All the decisions you make add up.

Jill DeWit:
Oh yeah. I wholeheartedly believe that-

Steven Butala:
Craft beer.

Jill DeWit:
… Sometimes good, sometimes bad, right?

Steven Butala:
Craft beer here we come.

Jill DeWit:
Craft beer.

Steven Butala:
Yeah.

Jill DeWit:
Craft beer. [inaudible 00:10:14] Oh, okay. Got it. I’m seeing Kraft the cheese company. I’m like, there’s a Kraft cheese beer.

Steven Butala:
Oh my god.

Jill DeWit:
I got all excited for a second.

Steven Butala:
Oh geez. How bad would that be?

Jill DeWit:
Wait a minute. We put beer in the cheese, but we don’t put cheese in the beer. Why is that?

Steven Butala:
Let’s test it.

Jill DeWit:
Okay. Thank you for tuning in. Hey, we would love to connect with you on Clubhouse in case you did not know we are commonly there. Let me think about this week. I can’t remember what the day is today, but.

Steven Butala:
This is an off week.

Jill DeWit:
Okay. God, this is an off week. Okay. Typically on the first and third Thursdays of every month at one o’clock Pacific Time. No noon Pacific Time. Thank you. How do you think about that? You can find us on Clubhouse.You know what, whatever I say. Go on Clubhouse, do the Land investing Club.

Steven Butala:
Yeah.

Jill DeWit:
Follow that. Follow me. And you’ll see the schedule right there. How is that? And you won’t go wrong. And if you join and follow those, you’ll be notified when we go live so you won’t miss it also.

Steven Butala:
We are Jack and Jill.

Jill DeWit:
We are Jack and Jill.

Steven Butala:
Information

Jill DeWit:
Inspiration.

Steven Butala:
So buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com
https://houseacademy.com
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.

Learning How to Run a Business (LA 1853)

Learning How to Run a Business (LA 1853)

Transcript:

Steven Jack Butala:
Steven and Jill here.

Jill DeWit:
Hello.

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

Jill DeWit:
And I’m Jill DeWit broadcasting from the valley of the cheese.

Steven Jack Butala:
We’re in Wisconsin today.

Jill DeWit:
Yes we are. You know what? And I’m looking for that chocolate cheese. I’ve had it. I know of it. I don’t know where to find it but I’m on a mission.

Steven Jack Butala:
If anybody knows where to get the chocolate cheese, we’ll be here for a while. Please let us know or staff know or put it in there.

Jill DeWit:
Yeah.

Steven Jack Butala:
YouTube or anyway, you can get to us.

Jill DeWit:
Yeah. Please tell me the home of the chocolate cheese. Because it’s so good.

Steven Jack Butala:
Today Jill and I are going to talk about learning how to run a business. As I said yesterday, an integral part of what we do here. It takes up at least 50% of the time of what we talk about during career path. From people who have been running businesses their entire professional life. And people who are brand new. I always learn something new and make those changes based on what goes on in career path. So there’s a lot of career path talk right now because we’re starting to back up. The next session is in October and we just had the career path alumni call, which we have once every-

Jill DeWit:
Month.

Steven Jack Butala:
Once every month. Before we get into it, let’s take a question posted by one of our members on the land investors.com online community. It’s free. And I hope you know by now we have a full blown printing company to send your offers to owners.com. It’s called offers to owners. The number two, we send out between 500,008 or 900,000 mailers a month on behalf of members and non land academy members.

Jill DeWit:
And ourselves.

Steven Jack Butala:
Yeah. And they do our mail.

Jill DeWit:
Yeah.

Steven Jack Butala:
Completely born out of our frustration, Jill and I of having to deal with commercial printing companies that didn’t understand mail urges or what we’re doing or how we’re doing this.

Jill DeWit:
Our urgency, or why we’re doing it.

Steven Jack Butala:
Trying to sell us color printing. When we know we don’t need it.

Jill DeWit:
Stuff like that.

Steven Jack Butala:
Things like that.

Jill DeWit:
Exactly. Matt wrote, “Hello, all I’m closing on my first piece of land and selling it retail value. Looking for advice on the best way to go about selling it. Should I get a real estate agent? Is there an inspection process I should go through before buying it? Soil test. See if something’s available? Where is the best place to list it on the MLS?” Is that more of the question there? Okay, “So I’m buying it for $7,000 and I think it’s going to retail between 25 and $30,000. I often use flat fee listing companies when selling houses because I haven’t sold land yet. So I was considering an agent as I’m not exactly sure what information I need to market it appropriately.” You want me to go first?

Steven Jack Butala:
Sure.

Jill DeWit:
Okay. So yeah, if you are not sure and you’ve not experienced with this then I think getting an agent is stellar.

Steven Jack Butala:
Me too.

Jill DeWit:
You can do flat rate MLS postings, just like you did in the past. There’s companies like… Can’t think of the one that we used to use out there. But now I use Broker Direct, MLS.com. Because they cover all over the country and they’re a great service to help you put it up there. So the great thing about those companies, if you do flat rate listing service, you’re going through a title or going through a real estate agent, I should say, but they’re not taking a commission. You’re just paying them a fee to use them to get on the MLS. They’re going to send you the forms you fill them out. They’re going to say how many pictures you want? What order you want? And they’re just going to spit it out there. Not make it pretty or anything. They’re going to do exactly what you tell them because they’re just the resource for you. But the flip side is, and now you’re selling yourself. You’re taking all the phone calls, the emails and everything like that. You’re acting on your own behalf.
If you go get a real estate agent. I love that. Especially when you’re new to an area. Why not? And you know what, Matt, you’ve got the numbers to support it. Buying for seven selling for 25 to 30, this price point. They’ll either going to take a 10% commission. So be like 2,500 to three grand or they’ll have a dollar amount that they’ll say, “Hey, I’ll do it for… Fill in the blank amount.” Because it’s got to be worth their while. Either way say they do the 10%, which a lot of land people do. I think it’s worth it. Think about it. You’re buying for seven. You’re selling for 30. You do no work. They take 3000. Okay. So now you’re in it for 10. Right? So you’re going to profit 20. Again, they’ll take the photos. They’ll pay for the photos. They do the drone shots. They take the phone calls. They manage the driving people around and the emails and so on.

Steven Jack Butala:
This is a really popular topic. This was the very beginning of a… This is the first question that Matt asked that sparked probably 20 answers in discord.

Jill DeWit:
That’s good.

Steven Jack Butala:
From all different… And everybody. I think without exception said, you’d need to get a real estate agent here.

Jill DeWit:
Yeah.

Steven Jack Butala:
You need to get a land specific, very successful local real estate agent to tell you exactly how much it’s going to sell for what you need to do or not to. And pay that person well. To pay them 10%, you’re going to buy for 7,000, sell for 30,000. You’re going to end up paying that agent three grand. It’s totally worth it.

Jill DeWit:
I’m sure people are going, whoa, whoa, whoa, whoa, whoa. What happened to three or 6%? A little different with land and a little different with smaller numbers. That’s why. My best guys are 10% up-

Steven Jack Butala:
Yeah.

Jill DeWit:
To a hundred thousand dollars. Sale price to make it worth their while I agree. And then over a hundred thousand dollars sale price they rock it back to 6%.

Steven Jack Butala:
But the amount of consulting and free advice. Not free but advice that you’re going to get. The agent might come in and say yeah, you think it’s 25 or 30. I probably can get 60,000 for this.

Jill DeWit:
Right.

Steven Jack Butala:
And then you would never have known that.

Jill DeWit:
That’s true.

Steven Jack Butala:
When it’s a good real estate agent we never ever regret it.

Jill DeWit:
Yeah.

Steven Jack Butala:
We only ever regret hiring a real estate agent that we hired. Because they blew a lot of smoke, which doesn’t happen too much anymore. Because we have some experience.

Jill DeWit:
Right.

Steven Jack Butala:
But they blow a lot of smoke in the beginning and the property doesn’t sell.

Jill DeWit:
And then they come to you and say, I guess we should reduce it. I’m like, I guess you should sell it. Well, thanks. I’ve paying you to sell the thing.

Steven Jack Butala:
Hey, stop it. Learning how to run a business. This is why you’re listening. Jill and I spent the last two or three days driving through Nebraska and Iowa. Nothing but agriculture in every direction.

Jill DeWit:
Yeah.

Steven Jack Butala:
This month it’s September.

Jill DeWit:
Yeah.

Steven Jack Butala:
The middle of September. So where there’s leaves they’re changing. Harvest season is coming up and all I had was questions. Because I knew nothing about this.

Jill DeWit:
Yeah.

Steven Jack Butala:
Nothing about agriculture. So I’m sitting in the passenger seat and half the time researching. How much is a bushel of corn? How much does it cost it make to grow it? Is it subsidized? Why is there so much corn? Why are there beans? Soybeans. And then I see sporadic cattle and I look up how much it costs. It costs three, $400 or 600 close to $600 to raise cattle throughout its lifespan. And you sell it for 1600. Usually net a thousand dollars cattle. My numbers are probably off here but that was the result of my research. Knowing full well I know nothing. So then I start to think, well a thousand heads of cattle, I can buy land cheap. We know about how to do that. But what if I start doing this? What if we buy a ranch? Then I’m thinking to myself and sometimes telling Jill when she puts up with it. Why would I do this? Why would I ever go through a learning curve like that?

Jill DeWit:
Pizza.

Steven Jack Butala:
Well, no. Why would I ever go through a learning curve when I don’t know about it? What I would do is get to know if I was serious about it which I’m not. Get to know… But I’m serious about buying land here. Get to know-

Jill DeWit:
I would go to cattle academy.

Steven Jack Butala:
Or no. What I would do is at this age is get a partner. And I would go to cattle academy if I knew there were people in there that knew how to raise cattle profitably.

Jill DeWit:
Right.

Steven Jack Butala:
And they’re flying around in their own helicopters. And they’re in that group to learn more. That’s what Land Academy is. So if you don’t know how to run a business, this is the topic now. You need to be hanging around people who have been successfully running businesses for a very, very long time. I don’t care if it’s a manufacturing business or a land or investment business. But that’s what goes on a career path and I’m not selling anything here. Every single time I talk to the people in career path-

Jill DeWit:
I am. Just kidding.

Steven Jack Butala:
I find out something, well, no, no. This is how we do our taxes. And we file these this form and this is the reason. And so I learn a lot. I would never start a cattle ranch without standing right next to somebody who’s done it 42 times. And they’re saying sentences like, yeah, you think this is going to work out but this is how it goes. This is where we should get the water. I know this guy over here, we’ve had a long relationship. Yeah. We used to auction the cattle off when we were done. Now we do this. It just makes complete sense. So why would I have go through that learning curve. And what I’m bringing to the table is a ridiculously cheap land. Undervalued land I should say. So as far as learning how to run a business. Please. And everybody who’s listening to this either is running a business or wants to run a business. Put yourself in front of people who already successfully run businesses.

Jill DeWit:
This is a natural progression in Land Academy as you grow, we have a lot of people that come in with WTWO jobs still working the WTWO jobs doing this on the evenings, doing this the weekends, getting up early and they get to a point where they’re making so much money and they can replace their own income. Right. That’s usually the… Sometimes they replace their own income or sometimes they hire somebody. Right? But there’s a progression and a shift that happens they’re like, okay, I see it now I can turn transition here. And then it starts to turn into a company like you said. And it turns into a business and it turns into, I can look at my taxes differently and I got to hire people. And really, you are running your own little business even if it’s just you. You could be running a business with you’re the only employee but you’re still running a business.
So that’s one thing I want to think about. And that’s like you said, it is true. It’s stuff that goes on all the time within our community. People don’t realize that. They think you just land academies. I’m just going to show you how to buy it, sell it and let you just see ya. That’s it. No, no, no. We’re going to take you all the way to the end. We’re going to help you make this as big as you want it to be. If you want to be like us rolling around in an RV and in the rain buying chocolate cheese. Don’t you think it’s great? Because I do.

Steven Jack Butala:
Don’t be like us.

Jill DeWit:
Yeah.

Steven Jack Butala:
Whatever you do.

Jill DeWit:
I do. I clearly. When you get out here and you go, I had no idea that I’m a land person. I just love it. You know what I mean?

Steven Jack Butala:
Me too.

Jill DeWit:
It’s beautiful. I love this green grass. It’s so fun. My second point is that some of our best people in Land Academy are former business owners. So you don’t have to be that. Coming into Land Academy will help you grow into that. But/however if you have experienced running a business and all the trials and tribulations and things that you have to do to be successful running any kind of business and you just have a hint of, oh, I know there’s money to be made in real estate, buying and selling this whatever. I just don’t understand the nuances about that product. Those are some of our best-

Steven Jack Butala:
Yeah.

Jill DeWit:
Best members and we welcome you. Especially, I love those too because you bring something different.

Steven Jack Butala:
Yes.

Jill DeWit:
It makes me think like Lori. Our sweet member, Lori Phillips. Lori has so much executive experience from a prior lifetime, if you will. So she came to us learning what the heck is this buying and selling land thing? And then she could apply corporate America stuff. Like I said, just some of her life experience to this and make it great. And I love it. Because then I learned something too. You want?

Steven Jack Butala:
Yeah. My second and final point on this is the title of this episode is learning how to run a business. Now more than ever you choose where you can learn. And learning how to run a business is that topic is plastered all over YouTube or the internet or wherever you get information. So-

Jill DeWit:
I didn’t know that.

Steven Jack Butala:
Learn from people that you can identify with somehow. I’ll tell you there are probably five or six or more and more tiny little popup shops here about how to learn to buy and sell land without exception. Well, one exception is Jack Bosch. But everybody else has been a Land Academy member.

Jill DeWit:
Yeah.

Steven Jack Butala:
And if you really press people to ask them how many deals they’ve done or when were… You ask them when were you a Land Academy member?

Jill DeWit:
That’s a good one.

Steven Jack Butala:
Maybe they’ll lie. Maybe they’ll tell you the truth. But all I’m saying is-

Jill DeWit:
Wouldn’t that be funny?

Steven Jack Butala:
Just please have this thought. Whoever you’re going to learn from make sure that they have some experience and make sure that you identify with them somehow. For us, we do really well with people who take this very seriously. Jill and I, we have a lot of long, long time loyal members that do incredibly well because we all get along. We all seem to identify with each other and want to learn from each other. And most of the people out there that are learning to buy and sell land from other resources, maybe resources that have been educated at Land Academy. Don’t take it as seriously. I think. So if you are in one of those groups and you’re like, (beep) this is not what I expected. It’s because you’re probably not taking it that seriously. So-

Jill DeWit:
Will help you.

Steven Jack Butala:
So part of… It’s not just buying and selling land here. It’s all cumulative years and years of experience that we all have of running a business.

Jill DeWit:
Yeah. That’s for sure. Including other kinds of businesses.

Steven Jack Butala:
That’s what all this gray here is right now.

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

Steven Jack Butala:
Tomorrow the episode of the Land Academy Show is called Jack’s Career Path Alumni Advice. You are not alone in your real estate ambition. Here’s that career path-

Jill DeWit:
Is this your career path week and I didn’t know it?

Steven Jack Butala:
No, it just ended up being that way.

Jill DeWit:
Okay. Got it. This on our minds.

Steven Jack Butala:
Again, we had this call. The monthly call was because there are more and more and more career path, diverse types of career path alumni. These calls are getting great. So…

Jill DeWit:
Oh yeah.

Steven Jack Butala:
I was asked to give some advice, which I’ll share here tomorrow.

Jill DeWit:
You know it’s funny. We only have 500 people that I keep at in Land Academy. The career path alumni group is even smaller.

Steven Jack Butala:
Oh geez.

Jill DeWit:
Because we only do three a year.

Steven Jack Butala:
I bet it’s probably 40 people. What do you think?

Jill DeWit:
A little more than 40. I mean, because we’re on number five but-

Steven Jack Butala:
Oh sure. Okay.

Jill DeWit:
Yeah. We’re going into number five right now. But it’s a really tight, solid group. Yeah. We’ve only done four of them. That’s pretty cool. Thank you for tuning in. By the way, Jack and I are fully aware not everyone has a couple hundred thousand dollars lying around to buy a property like we do. Not to worry. We are here and happy and ready and want to fund your deals. What the heck am I talking about? Go to landfunding.com or you can go on one of our online communities which is landinvesting.com and you’ll find a deal funding tab at the top. Either place, we’ll get you the same thing. Or if you’ve got some great deal and you don’t have the [inaudible 00:15:47] to get it done. Submit it to me, I’ll look at it. And if it looks great to me too, I’ll be your bank. And we’re happy to do that. And then even within Land Academy there’s millions of dollars. We have never had to deal. We just had someone put like, what was it about three million self or eight million?

Steven Jack Butala:
Yeah.

Jill DeWit:
They got funded into the community.

Steven Jack Butala:
Yeah.

Jill DeWit:
So if you’ve got a great deal. You will find the money within our group. I promise. We are Jack and Jill.

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

Jill DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com
https://houseacademy.com
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.

Career Path Alumni Call Topic: Mailer Yield is Subjective (LA 1852)

Career Path Alumni Call Topic: Mailer Yield is Subjective (LA 1852)

Transcript:

Speaker 1:
Steven Jill here.

Speaker 2:
Hello.

Speaker 1:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.

Speaker 2:
And I’m Jill DeWit, broadcasting from the Valley of the Rain. If you’re watching this and you are looking over my shoulder like, “I see a lot of green.” Yeah, that’s a lot of green. And it’s wet green. We are literally sitting… As you can see, it’s not as glamorous. I may or may not be in an RV dinette. Yes, that’s exactly where I’m sitting. Highly encourage you to go on YouTube and you’ll get a kick out of this. And, “Jill, why is your hair frizzy?” Oh, because it’s big hair day here in the Valley of the Rain. It’s a-

Speaker 1:
Our final child is officially in college, and the same week we left, Jill and I left in our RV and are driving across the country. We’re in Madison, Wisconsin today. We were in Nebraska for the last couple of days before that, in Colorado for an entire week. Tomorrow will be in Michigan and we’ve got a wedding to go to in Northern Michigan. And then, who knows?

Speaker 2:
I got to tell you, this has been a blast. We’ve talked about this a lot. If you worry about, is there enough land out there? Take a drive across the country just once. I don’t care where you go, what state you cross, just get out of your little bubble and drive around a little bit. You’re going to go, “Oh yeah. There’s a whole lot of land out here.” There’s also a whole lot of corn out here. We’ve found all the corn.

Speaker 1:
And beans.

Speaker 2:
And beans.

Speaker 1:
And-

Speaker 2:
Soybeans. Yup.

Speaker 1:
We obviously spent a couple of days in the heartland. Nicest people you ever want to meet.

Speaker 2:
Oh, we’re having so much fun.

Speaker 1:
Yeah, absolutely a blast. Yeah.

Speaker 2:
I find myself saying things like, “I had no idea Iowa was so cool”, and “I had no idea that…” Yes, we did watch the Green Bay Packers and the Minnesota Vikings game. This is what’s so cool, we got to see Iowa and Iowa State play, in Iowa, in a bar. And then the very next day, that was on a Saturday night, and the next day on Sunday night, we watched in Wisconsin, at Green Bay-

Speaker 1:
In Madison, Wisconsin.

Speaker 2:
In Madison Wisconsin.

Speaker 1:
Close to Green Bay.

Speaker 2:
Here. Yeah, we watched the game, the Green Bay and the Vikings game. Not going to talk about how that all went.

Speaker 1:
Yeah. We’re the wrong

Speaker 2:
Those who live here where we’re sitting, we won’t bring that up. But anyway, it was fun and cool to say that I’m here and I get to be here with everybody watching I’m going to have such a blast.

Speaker 1:
The point is, we’re in an RV doing our job’s pretty effectively.

Speaker 2:
Yeah.

Speaker 1:
All the land academy roles we have, and buying and selling land. So if we can do it, you can do it.

Speaker 2:
You can do anything. You really can.

Speaker 1:
If we only had to buy and sell land, we would work like half a day a week.

Speaker 2:
Once a week. That’s it. Four hours, that’s all I need

Speaker 1:
Today. Jill and I talk about career path alumni topic: how mailer yield is subjective the first Tuesday of every month. Everybody who has been through our career path program, and I think Jill’s got another one start in October, we all get together and kind of have a mastermind group and this topic came up, and it was so… it hit me so square in the face in a good way that I want to talk about it today, because I think it’s really going to help everybody.

Speaker 2:
Thank you.

Speaker 1:
Before we get into it, let’s take a question posted by one of our members on the land investors.com online community. It’s free

Speaker 2:
And can I say about this? Can I give this little-

Speaker 1:
Sure. Oh sure. Yeah, yeah.

Speaker 2:
So before you launch into Career Path, let me talk about career path for just a second. We are T minus 30 days. What is career path? It is the top level personalized coaching, spend 10 weeks with us program, period. If this is your career or you want it to be, if you’re already a career investor and you’re trying to take it to the next level or what’s going on, you have a handle on what we do, and you’re like, “I just want to make this my career.” And you want to fast track it and be with the masterminds, and be with the top level, and you’re not messing around. That’s career path. So check it out. We are, like I said, we’re less than a month out. Go to Land Academy/career path for the details. If you have any questions, reach out to my team support@landacademy.com and they will help you out. I do have seats. Don’t know how long I’m going to have seats because it’s a very small group. I don’t let more than 20 in, usually less than that. We’ll see how it shakes out.

Speaker 1:
I have to tell you, since we’ve been on the road, I’ve worked a lot less and I have this feeling…

Speaker 2:
Oh you have more feelings now.

Speaker 1:
Yeah. I have a feeling that it’s like, I don’t know, I should be doing more. But the fact is we’re getting everything done and so I don’t know. Do you feel that way?

Speaker 2:
You know what it is? We used to say it a long time ago, every time we leave the office we make more money.

Speaker 1:
Yeah. That’s happened now

Speaker 2:
Yeah. The staff that’s, thank God they’re gone.

Speaker 1:
And then I said-

Speaker 2:
It’s our kids. Your kids are like, “Thank God they’re gone.”

Speaker 1:
Then I started thinking today, “has anybody ever said this sentence?” Have you ever heard of any… Our staff, or any member, or anybody ever say, “Boy, I really wish you guys would kick out more content.”

Speaker 2:
Oh, that’s for sure.

Speaker 1:
No one’s ever said that.

Speaker 2:
No, That’s true. All right, so here’s back to the whole point and back to the question that was posted here. Matt wrote, “I have a hole in my current knowledge on why we should close with a local title company. My local title company says it can close anywhere in the country with a mobile notary. Is it mainly an issue of making the seller as comfortable as possible?”

Speaker 1:
Partly.

Speaker 2:
“Maybe sellers don’t know or trust the mobile notary the same as going to an office. Any suggestions or reasons you could share about why to use a local title company would be appreciated.” I got to say honestly, Matt’s plan is the best. If I had one, most title companies don’t have an… Let me say here, most title companies don’t have nationwide extended access, and I question his title company because what they do is hang up and call the local person there.

Speaker 1:
That’s right.

Speaker 2:
And you’re adding a layer.

Speaker 1:
And they mark it up.

Speaker 2:
Exactly. And they’re taking a cost for that. So I’m not really a fan of… So I would like to find out are, “Gee Sally, are you guys really officially… Are you Sally and your ABC title company officially licensed, if you will, to close titles yourself in all 50 states? If you are, or at least all the states I’m working in, great.” I’ve had some that do four states and for a while I’ll use them for those four states. That’s great. Go ahead.

Speaker 1:
I had this happen to me a very, very long time ago where I found a title company, a local title company in Flagstaff, Arizona that was doing my deals. And I asked them if they could do a deal in Nevada and she said sure. And that ended up being my first transaction coordinator before I ever called it that. So what I was doing was utilizing this person in Flagstaff to do all my deals all over the country. She was marking each deal up, whatever the numbers end up being, $200 to $400 a deal. And boy did I not care. That took all the responsibility off of me, I had one point of contact for all the transaction I was doing all over the country. So this can be a beautiful thing, just go into it knowing it’s going to be more expensive. And if that transaction… That the person that you found is, let’s say doing a deal two states over, you don’t need to get to know the two states over pedal. You’re just causing problems for yourself. Just go through that one person and it should be okay.

Speaker 2:
It’s pretty cool actually. It’s worth it sometimes.

Speaker 1:
I Agree. Today’s topic, career path alumni call topic: what is mailer yield and why is it subjective? This is the meat of the show. So like I said earlier, every Tuesday… Or the first Tuesday of every month, we get all the career path alumni, all the people that have been through the program, and a few people from the original Advanced Atlantic Academy group, gets together on a mastermind type call and ask each other questions, like, How much mail are you sending out? Are you making enough money? Are you happy, are you unhappy? And on and on and on. So we’ve had some people come through the career path that are very, very successful and one of those person’s name is Ike, three to five million dollars a year. He makes pretty consistently with Land Academy, and he was total sleeper member. Jill and I didn’t know of him at all until he joined Career Path and we all got to know each other. So, another member asked this question, “I’m trying to get to the next level. We’re making about five or 600,000 a year, I want to get to the next level. What do I have to specifically do from a mailer standpoint, so I can times two, times four?” And, to which, we all said, “You just got to send out more mail.”

Speaker 1:
This member who’s asking this question has been in our group for a very long time. They’ve attended both live events way before covid. And this member’s had this same question for quite some time. And so other members have heard, other career path alumni have heard this question from him, and other people many times. And we really kind of kicked our gloves off, put the gloves off during this call and said this is subjective. And this very successful member said some version of this, “Sometimes I send out a 500 unit mailer and get three deals. Sometimes I’d send out a 15,000 unit mailer and get nothing. I get five hate calls and that’s all. The trick is to send out incredibly diverse high number mailers, as many as you can, and in the end it’s all going to work out great.” It’s very subjective, it’s how you feel about it.

Speaker 1:
Jill and I are very comfortable buying properties, for some reason 30 to $40,000 and selling them for 80 to $140,000, over and over and over again in about four places in the country. And we do very, very, very well with that methodology. Every book, there’s other people who do it completely differently, but I’ll tell you what you can’t do. In most cases, not all, is do the same thing over and over and over again, in the same place, and expect your yield to be… You can measure it with a stick. And so the people that have a tough time quantifying this are usually recovering accountants like me, former engineers or software developers, people that they need to know they’re going to get three deals out of sending 5,000 unit mailers out. That’s just not how this works.

Speaker 2:
Well, I mean sometimes I wonder if you… I can find a deal in there. Sometimes it comes down to the person too. It’s about subjective. You’re going to get calls back, do you like them? Did you like them in the end? Did you kind of go, “Ah, you know what, the margins aren’t as good as I thought they were.” Or fill in the blank. Maybe I don’t like that area. After all, one time we had, I ended up ditching West Virginia when I found out that over 80% of them were undivided interests. I’m like, “Duh, got it.” So I just told my team, “Scrap it.”

Speaker 1:
Yeah.

Speaker 2:
Don’t even go there. Don’t even dig. If someone calls back from this mailer, it’s not even worth our time to dig. I’ve got Marked mail going out on Tuesday, hang on. That’s totally fine. I could have got something out of it. I just didn’t care.

Speaker 1:
That’s right. And we are at the point in our careers, clearly, because we’re driving around the country where we only do deals now. Geez, the deals we did two or three years ago even, were pretty dramatically different than we do now.

Speaker 2:
We could do a lot more deals.

Speaker 1:
It’s subjective, this is my point, it’s subjective, It’s what you want it to be. If you’re really young, huge go getter, and you’re comfortable talking to people, you’ve got somebody to do the mail, and you’re happy financing or funding properties with other people in our group are just happy just doing a lot of deals. You have a dynamic personality, you should be just all over the place doing. And that’s the people that are, a lot of the people in career path are like that.

Speaker 2:
You know what else I was just thinking?

Speaker 1:
It’s very different person by person.

Speaker 2:
Remember back in the day before we had Discord and the other communication things, we made a thing called the deal board. And the deal board was for me to put my discards. Because you know what, I constantly have good deals that I’m just like, “Nah, too much work.” “No, I got to chase too many people.” “Eh, I’m not going to make that much money. I’m only going to make 10 grand? Nah, I’m out.”

Speaker 1:
Exactly.

Speaker 2:
So that’s the whole other thing too, is that you just painted a beautiful picture. If you’re young and hungry or young or hungry, you could be, if you’re young and hungry or old and hungry, you can do this too. You can have the yield you want to have, depending on how hard you want to work it, I really think. Cause I know, like I said, I discard so many deals that people would be like, “Why aren’t you doing this one?” No, I just don’t, Don’t want to, I don’t like that area. “But Jill, you could make 25 grand.” Yeah, I know. I don’t, I’d rather be on these, I got these three beautiful ones.

Speaker 1:
We have slam dunks over here.

Speaker 2:
I Got to these one and I got other things going on, so I’m just going to do these three, give them good luck for the next guy.

Speaker 1:
Yep.

Speaker 2:
So that’s why… that’s another reason I think why it’s just all subjective in how you look at it.

Speaker 1:
It’s important to follow the program if you’re brand new, the way that it’s designed. And then after you have a bunch of deals under your belt, make it your own.

Speaker 2:
Yep. I always say that once you’ve done like 10 deals, you know like this and you’ve got, I don’t know, $15,000 in the bank, you’re going to take a step back and start making some different decisions.

Speaker 1:
That’s right. I love doing these deals over here. This one took so much time, I only made 18 grand.

Speaker 2:
Right. I love-

Speaker 1:
That’s learning.

Speaker 2:
I hate doing deeds, I’m now going to do this. Whatever it is, it’s awesome. Happy you could join us today. Five days a week, you can find us here on the Land Academy Show

Speaker 1:
Tomorrow, the episode on the Land Academy show is called Learning How to Run a Business: you Are Not Alone in Your Real Estate Ambition. Such an important part of what we do is learning in the background. Who’s going to manage payroll? I’m not doing it myself. Who is going, and this is what we talk about in Career Path a lot. It’s not just how to buy and sell real estate or complete deals, it’s all this other stuff. What do you do about taxes. How do… This is my tax bill last year, How can I make it less?

Speaker 2:
Right. That’s a really, really good point.

Speaker 1:
We’ll talk about that tomorrow.

Speaker 2:
Thanks. Thank you for tuning in by the way, In case you did not know, Land Academy 3.0 is available and here for you and new in 2022. You like that? So check out land academy.com and if you have any questions, of course, just send a note to my team at support@landacademy.com.

Speaker 1:
We’re Jack and Jill.

Speaker 2:
We’re Jack and Jill.

Speaker 1:
Information.

Speaker 2:
And inspiration.

Speaker 1:
To buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com
https://houseacademy.com
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.

Jill Friday – How to Talk to a Seller (ReAir LA 1682)

Jill Friday – How to Talk to a Seller (ReAir LA 1682)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill K DeWit:
Happy Friday.

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

Jill K DeWit:
And I’m Jill Dewitt, broadcasting from the Valley of the Sun.

Steven Jack Butala:
Today, Jill and I talk about … Well, it’s Jill Friday. She’s going to talk about how to talk to a seller. Sounds trite and silly, especially to a data person like me, because people like me … How to talk to a seller? This is how you talk to your seller.

Steven Jack Butala:
“Hello.”

Jill K DeWit:
“What do you got?”

Steven Jack Butala:
“I’d like to sell … Yes. I got your letter, and wondering if it’s legit. Yeah. Come on. You’re talking too slow. Let’s go.”

Jill K DeWit:
“Hurry it up.”

Steven Jack Butala:
That’s not how you talk to sellers.

Jill K DeWit:
“I sent out 3,000 offers today. Hurry up, ma’am. Hurry it up. Come on, lady. Get to the point.”

Steven Jack Butala:
“You want to sell or not? Going to the bar. I’m on my way to the bar. Want to sell or not?”

Jill K DeWit:
“Just sign it and send it in, would you?”

Steven Jack Butala:
That’s not how you do it.

Steven Jack Butala:
Before we get into it. Let’s take a question posted by one of our members on the landinvestors.com online community. It’s free. What’s so funny?

Jill K DeWit:
It’s just really funny. There’s a reason why we don’t let you talk on the phone. It’s totally true.

Jill K DeWit:
Wait, wait. Truth time. Our phone ring in our office, back when we had an office, and I get excited. I’m like, “Let me answer.” Steven’s like, “Get me away. Is it still ringing? Why am I hearing ringing?”

Steven Jack Butala:
That’s my exit.

Jill K DeWit:
Steven’s like, “See ya.”

Steven Jack Butala:
You’ve clearly forgotten to subscribe to the Land Academy YouTube channel, but please do so now. Comment on the shows you like.

Jill K DeWit:
Right. You would also sneak over and go … Close my office door. Here they go again.

Steven Jack Butala:
I have 30 minutes of peace. Jill’s talking to a seller.

Jill K DeWit:
That’s funny.

Jill K DeWit:
All right. [inaudible 00:01:47] I was sharing yield data with another member here. I can’t remember who. We figured out that his yield was so far off because he was using an employee to handle the incoming calls.

Steven Jack Butala:
Ding, ding.

Jill K DeWit:
I’m set up differently from him in a lot of ways, but I still worry that handing off my least favorite part of this could ruin it.

Steven Jack Butala:
Yep.

Jill K DeWit:
Jack and Jill talk a lot about the benefits of doing this as a partnership, but I’m not looking to give away half of the pie.

Steven Jack Butala:
I did.

Jill K DeWit:
I would only consider having the Jill work done by a paid employee or a VA. That’s okay too.

Steven Jack Butala:
This is all you.

Jill K DeWit:
Oh.

Steven Jack Butala:
Honestly, I got pure luck with Jill.

Jill K DeWit:
Well, we didn’t have to make this a partnership. You chose to do that. There’s probably people … There’s lots of people out there that would … The way it worked out, yes, we are partners in every way you can imagine. “Mommy, what does Miss Jill mean by that?”

Steven Jack Butala:
“Mommy, I want a partner.”

Jill K DeWit:
“Can I have one like Miss Jill?” Anyway. Oh no.

Steven Jack Butala:
The kids are in the back seat. Jill’s imitating them. She doesn’t talk like that at random.

Jill K DeWit:
Could you imagine? No. That’s true. All right.

Jill K DeWit:
I understand. Yeah. I would not go into this with that intent myself. If I didn’t know you … Let’s back up. I’m this person. I’m not that good on the phone. I need someone that’s good on the phone. Or I’m doing it, and I’m okay on the phone, but I could be better on the phone, and it’s something I don’t like to do. I would be searching and finding someone.

Steven Jack Butala:
So would I.

Jill K DeWit:
I wouldn’t make them a partner. Maybe give them a percentage on what they bring in or something like that. That’s motivating. Because someone like me, who has a sales background, just because that’s all they know and they’re good at it, they are motivated, they might be, like I am, motivated by money. So giving them a percentage is not nuts, but you don’t have to give them 50%. Don’t even worry about that.

Steven Jack Butala:
We have a very successful Career Path member who structures it like this. He found a person like Jill and said, “For every deal that … I’ll …” He pays for everything. She didn’t put a dollar in. So for every … He says, “We need to buy this at 30,000.” She goes and buys it. From there, he’s off. He’s done from there. She goes and sells it for 80 or whatever the number is, and he pays her 25% of everything.

Jill K DeWit:
Yeah. Something like that. It’s per transaction, by the way.

Steven Jack Butala:
Yeah. It’s per transaction. It’s not-

Jill K DeWit:
Then it’s not … They’re motivated.

Steven Jack Butala:
There’s no salaries or any of that.

Jill K DeWit:
Exactly. There’s a lot of ways you can do this. You could also … Seriously, I would totally consider having someone in your office learning from you, and then answering the phones. That’s their job. It could be a salaried position, if you don’t want to give up that much of it, and make it a little bonus on the stuff that they sell, because they do get a salary. Just depends on what everybody needs and wants.

Steven Jack Butala:
Look. I wouldn’t go into this with a calculator first.

Jill K DeWit:
Correct.

Steven Jack Butala:
I would go into this first trying to find the right person.

Jill K DeWit:
Correct.

Steven Jack Butala:
And ask them what they want.

Jill K DeWit:
Correct.

Steven Jack Butala:
I’ll tell you what. What they’re not going to say, “Oh, I want to be your partner, and I want 50% of this company.” They’re not going to say that. No one would ever say that.

Jill K DeWit:
Well, if they do, they’re the wrong person.

Steven Jack Butala:
That’s right.

Jill K DeWit:
Truth time. You remember? We were going to do this a couple years ago. We were going to spin off our land company and run it a different way. This is many years ago. We had, basically, some friends of ours who had time. He was a data nut. He wasn’t even going to really be involved. It was her that was going to be involved and really help me.

Jill K DeWit:
She sat me down and told me what the percentage was going to be with this new company that we built up, you built up, over two decades, and then she was going to get involved with this here, and how she deserved half of it. I’m like … That was the last meeting we had, not kidding.

Steven Jack Butala:
Yeah.

Jill K DeWit:
It was in our office, by the way, in our conference room. She’s telling me how … I’m like, “Well, and we’re done.”

Steven Jack Butala:
Yeah.

Jill K DeWit:
Didn’t happen. There’s lots of ways.

Steven Jack Butala:
Some people are just addicted to negotiation. They’re like, “Oh, I can get it for more.” I have a really good friend, well, a family friend of ours. It’s a couple, and the guy, he’s addicted to negotiation. He’s got to get it for $50 less. He’ll walk away.

Jill K DeWit:
Right.

Steven Jack Butala:
And I mean like a motorcycle or something. I don’t like that.

Jill K DeWit:
You got to have a … That’s a little too far, too far gone. Because you’re trying to get a deal done here. That’s the point, and I’m going to talk about it in a minute.

Steven Jack Butala:
Today’s topic … It’s still Friday. How To Talk To A Seller. This is the meat of the show.

Jill K DeWit:
That was a good segue, talking about that individual, because they do … They’re so stubborn on the price, they’re going to walk away from what might be a good deal because they didn’t get to the bottom of it. They just have something in them to get it.

Steven Jack Butala:
Well, math isn’t driving it.

Jill K DeWit:
No. That’s true.

Steven Jack Butala:
It’s this lust for negotiation. If it’s priced at $500, it’s worth 1,000, and you need to get it for 400? That’s a personality problem.

Jill K DeWit:
I know. [crosstalk 00:07:02]

Steven Jack Butala:
Why not just pay 500?

Jill K DeWit:
That’s true.

Jill K DeWit:
Today, we’re talking about how to talk to a seller. I’m going to talk about nuances today, because we have many other shows, and I’ll do many more shows about the specifics and the situations, and really get detailed.

Jill K DeWit:
But the bottom line is you’re going to have many different people calling you. They’re motivated by many different reasons as to why they’re selling. So number one, I want you to answer the phone with a good attitude, and speak to them like they’re your best friend.

Jill K DeWit:
This is where I lose Steven. Like right now. You don’t like that?

Steven Jack Butala:
I pushed my microphone away and sat on my hands.

Jill K DeWit:
Okay. You don’t like that.

Steven Jack Butala:
No. Jill, just leave me out of it.

Jill K DeWit:
Okay. Got okay.

Steven Jack Butala:
I forever talk on Jack Thursdays. Forget about that I’m here.

Jill K DeWit:
Okay. I will forget you’re here. Just kidding. I’m just kidding. All right.

Jill K DeWit:
So what, Jill? I answered the phone. There’s different things than going, “Yep?” when you answer the phone. Seriously.

Steven Jack Butala:
This is good stuff, actually.

Jill K DeWit:
It really is. People do that. A call just comes in, and you’re scrambling or whatever it is. You’re not ready. Do your best to be ready. If you’re not ready, have a … I used to carry around a notepad and a pen with me. So I knew I was ready. But the moment I answered, I’d have it right there, so at least I could quickly start writing down the situation.

Jill K DeWit:
Have a good attitude and speak to them nicely. That immediate thing sets the tone for how the whole rest of the transaction’s going to go. If you are a jerk when they call you to sell your property off the minute, do you think that they’re going to work with you on this? Probably not. You pissed them off right away. You might have pissed them off when they got your letter. So don’t add to it. Don’t make it worse. Have a good attitude, and really talk nice to them.

Jill K DeWit:
When I say nice to them, really go … Ask them about their day. Ask them what’s going on. “Do you live nearby?” There’s so many things I’m going to talk about, that you’re going to uncover here, that’s really going to help you talking to a seller. That’s one.

Jill K DeWit:
Two. Listen, listen, listen. I can’t tell you how many times we’re sitting on our Thursday member call, or I get properties submitted to me for deal review, and I’ve never spoken to the person, but I’m looking at the facts here, and I’m thinking something’s going on. There’s some situation. What’s really happening? Why are they selling? Nobody knows why. There’s some driving force here. I can see it. I can see it in the deal.

Jill K DeWit:
So I’ll write, and you know who you are, because I write notes back to you saying, from me to the deal manager, “What’s really going on? Why are they selling this and not this? Why are they … see this as a profitable …” whatever it is.

Jill K DeWit:
You’ve got to get that out of them. You can do it in just a few minutes on the first phone call. Again, that tells you how this is all going to play out.

Jill K DeWit:
“My sister and I …” We had one the other day where it’s this guy selling these two properties now, he was trying to sell. A lot of it is his sister lives … has a property next door. They’re not speaking. He now wants to get rid of it. He’s so unhappy with his sister, he doesn’t want to sell it to her, which is the likely person.

Steven Jack Butala:
Can I stop you just for one second?

Jill K DeWit:
Sure.

Steven Jack Butala:
When you uncover a situation like that, that’s non-financial or non-economic, sister-in-law, sister, ex-wife, guy want to move, this is the best … This is what you’re trying to uncover by sending this mail.

Steven Jack Butala:
I don’t know if it’s intentional or unintentional, but part of Jill’s MO is to uncover why they’re selling it. Any of those social reasons are great reasons to get a good bargain on property.

Jill K DeWit:
Mm-hmm (affirmative). Well, not only that, when you listen to this too, you might uncover things that are deal killers. “I couldn’t get a well done.” “I couldn’t get this done.” Think about it. “The county wouldn’t let me do what I wanted to do.” You need to hear that stuff, because it’s going to make a decision on whether or not you buy it or what price.

Jill K DeWit:
“Nobody else around here wants it. You sent me this letter. I’m going to call you.” You’re like, “Well, okay. The neighbors don’t want it. I need to think about that. What’s the problem?” “I couldn’t build a house I wanted to, because it would cost too much.” All right, well that’s going to make a difference when I try to sell it, because the slope is so great, or whatever it is.

Jill K DeWit:
You’re going to get all kinds of information. That’s just something … I watch people missing that. They’re just so about the facts.

Jill K DeWit:
The third thing is you’re striving to get to a number, and get on the same page with some number. When I say number, I mean a sales price. Then your job is to decide if you want it at that number. So the whole goal when you’re talking to sellers is get all the information that you can. Again, you’re trying to find out why they’re selling. How motivated are they? Do they really want to sell? There’s a lot of times too that people …

Jill K DeWit:
We had one the other day. … We talk about this on a Thursday call. When you’re presenting a deal to me, I can hear what’s going on.

Steven Jack Butala:
Me too.

Jill K DeWit:
I can hear the seller going, “All right. You talked me into it. Fine. I’ll sell you this one, but I’m only going to let it go for $80,000.” This guy doesn’t want to sell. He doesn’t need the money. You wore him down, and he said, “Sure. I’ll give you this,” and it’s a make me move number. So you should be done and long gone, and not even thinking about it when it’s that.

Jill K DeWit:
Versus some of the other situations that we were talking about that come up, like, “I inherited it. My husband just passed, and I’m so distraught. I need the money. I need to pay for his stuff. We’re clearly not going to build our cabin there now. I got to get out of here, and I got to do it fast.” They’re excited to talk to you, and you’re helping them.

Jill K DeWit:
The whole goal here is you’re striving to get all the information you can, and get to a number that you guys can agree on. Maybe the number is a number that you sent the offer on. They get it and they’re excited. “What’s the next steps? What do I do? I’m so happy.” Or it’s like, “Shoot. That number’s nuts. 20,000 is really ridiculous. 45, I’d do.” whatever it is.

Jill K DeWit:
Your goal is to get whatever their bottom number is, get it out of them, and then you go off and see if you can make it work. That’s it. Don’t start getting excited too and doing your stuff before you get that number. You can do all of this in less than five minutes on one phone call. It doesn’t have to be an hour.

Steven Jack Butala:
I have some outsider observations.

Jill K DeWit:
Ready.

Steven Jack Butala:
If you accomplish this, as Jill’s been doing for decades, if someone, they get another offer during the transaction, or if they’re staring at a couple offers, which it happens, not that often …

Jill K DeWit:
Not that often.

Steven Jack Butala:
It happens in buying and selling houses all the time. There’s tons of competition. People are staring at six letters. Who do you think they’re going to call back? They’re going to call Jill back because they want to talk to her. They’re going to take her call when some stuff goes on in the transaction that slightly goes sideways and she needs to them about it. Because they want to talk to her. Because it’s not painful. They’re not just waiting for her money. It’s actually not painful to talk to her.

Jill K DeWit:
You do this right, you have a relationship with them, and now, you’re in it together. That’s the goal you want. I can’t tell you how many times I’ve had sellers call me because they’re confused by escrow, whether it’s a house or land.

Jill K DeWit:
I’ll never forget this one lady. She was just so worried about this house deal. It was a house thing. The parents had passed 10 years ago. The house was sitting for 10 years. You remember this one?

Steven Jack Butala:
Yeah.

Jill K DeWit:
Great property.

Steven Jack Butala:
Great property.

Jill K DeWit:
The family all finally decided, “Now, let’s just get rid of it. Nobody wants it. It’s been sitting for 10 years.” They put it up to this one sister. Bless her heart. She was afraid we were going to walk, and she would get confused by escrow things.

Jill K DeWit:
I remember one time, we were out of town, on a trip, at the beach. I’m walking through shops and I like, “I have to take this call.” Remember that? I step out of the shop. I’m on the phone with her. It’s Friday afternoon. I’m like, “Don’t worry. We are not going anywhere.” She’s like, “They sent me this form. Are we still okay?” I’m like, “Oh gosh, yes. Don’t worry about it. I’ll be in my office on Monday. I’ll help you fill it out then. We’ll go through it together on the phone. I’m not going anywhere. The money is set aside. We’re going to get this done together.” She’s was like, “Oh, thank you.” That’s all they needed.

Jill K DeWit:
You develop that relationship with them. Like I said, you’re doing this together, and everybody’s happy. They’re going to say, “Thank you for helping me. Thank you for making this easy. Thank you for making my family getting paid out. Yeah, I know I could have gone with an agent, and got more money for it, and done 18 things. It was worth it to me to not have to go through that crap.”

Steven Jack Butala:
Let me drive this point home. It’s really important. We spend a lot of time talking about data and finding places to send mail. That’s all my stuff. My stuff’s easy. Once you get the hang of it, and get used to the tools, and replace the tools when they’re needed, and you troll for environments, and you get the mail out … I’ll give you … My job’s easy.

Steven Jack Butala:
What Jill does is imperative.

Jill K DeWit:
Both are imperative.

Steven Jack Butala:
If I screw a lot of stuff up, she still can fix it and does.

Jill K DeWit:
That’s true.

Steven Jack Butala:
We had a person in one of the Career Paths that said, “I don’t get it. I’m sending out all these properties, these mailers. We’re getting all this activity coming back. I don’t understand why we’re not buying any property. Something’s wrong with Land Academy.”

Jill K DeWit:
Yeah. And it’s not.

Steven Jack Butala:
Here’s what happened. He wasn’t … no one was answering the phone. All this inbound … They were getting voicemails. They were getting emails and all kinds of inbound correspondence. They were sending emails back saying, “Great. We do want to buy your property. Thanks very much.” And no one picked up the phone at all. So they weren’t doing any deals.

Steven Jack Butala:
It took a couple weeks in Career Path … Because these people owned other businesses. They owned other businesses. So that’s the way they were, apparently, getting away with running those other businesses. I don’t know. I finally got through to them saying … Jill got mad, in a good kind of mad Jill way.

Jill K DeWit:
Mm-hmm (affirmative).

Steven Jack Butala:
And said, “Look. You’re not hearing us.”

Jill K DeWit:
“There’s deals. There’s deals there.”

Steven Jack Butala:
“You are not hearing us. There’s 10 deals on your desk right now. You’re just not picking up the phone, and befriending these people, and walking them through the transaction, holding their hand all the way to the end until they get paid.”

Jill K DeWit:
Right. Exactly.

Steven Jack Butala:
This is really, really important, imperative part of this business. It gets downplayed. It gets put in the shadow of all my technical stuff often. I don’t do it intentionally, but it’s really important.

Jill K DeWit:
Thank you very much. That was a great way to end this.

Jill K DeWit:
Happy you could join us today. Five days a week, you can find us here on The Land Academy Show.

Steven Jack Butala:
Join us next week for another interesting episode, You Are Not Alone In Your Real Estate Ambition.

Jill K DeWit:
Thank you. That was really good [inaudible 00:18:33]

Steven Jack Butala:
It’s a good talk.

Jill K DeWit:
Yeah, it is. It’s important. It really is.

Steven Jack Butala:
It’s imperative.

Jill K DeWit:
Once you get them talking … You can add money. You can take away money. People freak out about that. “I did it all wrong. Everybody was mad.” So what? Find out what their bottom number is, and maybe you come up a little bit. You still get some great deals.

Steven Jack Butala:
Yep.

Jill K DeWit:
Maybe you did go in too hot. Maybe there’s something else going on. You got to talk to him and find that out.

Jill K DeWit:
Or heaven forbid, I talked to somebody recently, I’m like, “What happened?” They’re like, “Oh, I overpriced. Everybody loves me.” I’m like, “Oh shoot. Well, here’s the good news. You got many sellers you get to dig through,” I said, “So dig through. Find the ones you love. Then go back and talk to those people, and just say, ‘Shucks. I know you’re excited about my $48,000. I’m sorry. I meant 28,000. I goofed. Is any way … I really like the property, but I can’t do 48. [crosstalk 00:19:34] I screwed up.'”

Steven Jack Butala:
“Here’s why. It doesn’t have the access I thought.”

Jill K DeWit:
“I thought it was closer to this.”

Steven Jack Butala:
Yeah.

Jill K DeWit:
“I thought it had that.”

Steven Jack Butala:
If you’re in it together, they’ll adjust with you.

Jill K DeWit:
Yeah.

Steven Jack Butala:
They shouldn’t and probably won’t give you exactly what you want, but they’re in it with you.

Jill K DeWit:
There might be still something there. You just have to talk to and find out. So good.

Jill K DeWit:
Thanks for tuning in. We hope you find our content valuable. We appreciate your support. If you haven’t already, you’ve heard this before, please check out our YouTube channel. Hit that subscribe button.

Jill K DeWit:
We’re Steve and Jill.

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

Jill K DeWit:
… and inspiration …

Steven Jack Butala:
… to buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com

https://houseacademy.com

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

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

Jack Thursday – Land Deal Flow Machine Consistency (ReAir LA 1686)

Jack Thursday – Land Deal Flow Machine Consistency (ReAir LA 1686)

Transcript:

Steven Jack :
Steven Jill here.

Jill K DeWit:
Hi.

Steven Jack :
Welcome to the land academy show entertaining land investment talk. I’m Steven, Jack [inaudible 00:00:08]

Jill K DeWit:
And I am Jill DeWitt and we are broadcasting from the valley of the sun.

Steven Jack :
Today’s Jack Thursday. And I’m going to talk about land deal flow, machine consistency. This whole episode is about one basic concept and I’ll phrase it as a question. Is it better to buy [crosstalk 00:00:28].

Jill K DeWit:
Sorry.

Steven Jack :
Better to buy a piece of real estate and decide what to do with it every single time, or is it better to buy the same type of real estate over and over and over again and do exact same thing? The same process, the same people are involved over and over and over again. I bet you can guess which one I think is better. 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. And don’t forget to subscribe on the land academy YouTube and comment on the shows you like.

Jill K DeWit:
Steven wrote. “Hey guys, I am currently scraping data from Zillow for my next mailer, and I noticed that in Zillow, many of the listings don’t show the acreage anymore. You have to click in the listing to find out. So because of that, when I scrape the acreage is not spit out, I need manually go into each listing to find out. Does anybody know of a workaround when scraping?”

Steven Jack :
There’s two. And inconsistent data in Zillow is fairly common. And here’s why. Some of the places in the country Zillow collects data from the MLS. Some of the places they have to be manually input by whoever’s listing the property. There’s two types of people that list the property, real estate agents, who don’t usually don’t know their ass from their elbow, or people like us, but it’s mostly the ass from the elbow kind. And scraping data from Zillow can go great sometimes because sometimes they implement anti scraping software. Sometimes they don’t. So it very much varies from area to area. Don’t get discouraged, the sure fire away to fix this is to get a virtual assistant overseas, to manually input some of that data. It is not expensive at all. Usually wait if you order it, you’ll get it back overnight because they’re working, their day is our night. I’ve done it both ways for years, years and years, we manually order data mining from the Philippines in our case. And now we scrape. But the truth is if I can’t get good data, when I scraped to price and mailer, I moved to a different area to send mail.

Jill K DeWit:
Peaches and cream. What’s, peaches and rainbows [crosstalk 00:02:57].

Steven Jack :
This show it’s been on since 2015, every day.

Jill K DeWit:
Yep. Yeah. You’d think I would not be shocked.

Steven Jack :
Even real estate agents have reached out to me. And said I don’t like your attitude. I don’t think your description of the average real estate agent is accurate. Zero, zero.

Jill K DeWit:
Okay. [crosstalk 00:03:20]. Because they’re not listening to this. Because they know.

Steven Jack :
Yeah.

Jill K DeWit:
All right.

Steven Jack :
Today’s Jack Thursday, by the way. So I get to say what I want.

Jill K DeWit:
Yep.

Steven Jack :
I’m going to talk about land deal, flow machine consistency. This is why you’re listening. Jill and I have struggled with this. So for years and years and years, I bought and sold real estate through one venue, eBay for years, 10,000 plus deals. And then around 2011, Jill and I joined forces and we did it a little bit differently and I have to say, we make a lot more money together than we did separately, but it was a totally a different type of company. We would buy property the conventional way, the way we buy property now. Sending out mailers a lot of times back then I went to tax sales, but we would buy it the same way every single time, process it, get it up on the internet and auction it off the same way.

Steven Jack :
And so we had at one time, 20 or 30 auctions closing a day, Jill and I joined forces and eBay was no longer an option because it changed. The website changed and the money that we were generating, that wasn’t possible. So my dream consistency machine was gone. So for several years we did it in a hybrid way where I bought the property the same way I’ve always been buying it. But Jill sold it and Jill sells it. And so Jill’s the kind of person who has to, and I’m not complaining. It’s just how it is. And she’s very successful at it. Touch every deal, look at it, love it, feel it. And then list it with a real estate agent or close it herself or depending on when and why and the property. So, we’ve actually recently really tried to take in what’s great about how she does it.

Steven Jack :
And what’s great about how I do it and meld it into this machine. And I’m starting now to share it with the entire community, because we’re doing a lot less deals and making a lot more money.

Jill K DeWit:
And a lot less work by us.

Steven Jack :
Yeah. We maybe have if combined, maybe have a whole hour of work into an entire real estate transaction and it’s not like we ever don’t you think?

Jill K DeWit:
No. Yeah. I agree.

Steven Jack :
Don’t you think? What was that face?

Jill K DeWit:
No, no, I’m sorry. I’m just listening. That’s just my face.

Steven Jack :
That’s just your face?

Jill K DeWit:
What face that I made?

Steven Jack :
I don’t know, like a Muppet face.

Jill K DeWit:
I’m just hanging out, listening, letting you run.

Steven Jack :
Check Thursday.

Jill K DeWit:
That’s why I just got here.

Steven Jack :
And it’s not like she and I sat down and planned this out. I think that we both just got tired of each other’s stuff, honestly. And so these deals come in and what’s really changed is we’re building businesses around a sell side, real estate agent that Jill likes.

Jill K DeWit:
I have several and that’s-

Steven Jack :
She has multiple agents that she deals with. So buying them is easy. Buying really cheap real estate is easy.

Jill K DeWit:
Right.

Steven Jack :
Selling it consistently can be like hurting cats. And so recently we’ve really figured this out. So you want to strive for this. You want to strive for that machine consistency. You don’t want to touch and love on every deal and make it some type of-

Jill K DeWit:
Personal-

Steven Jack :
[crosstalk 00:06:42] Making a birthing event.

Jill K DeWit:
Yeah, here’s the same picture-

Steven Jack :
That should have been the title.

Jill K DeWit:
Here’s my truck and my chair in every property that I buy. It’s not going to always work out that way.

Steven Jack :
In fact, if you can have absolutely no emotion about it at all.

Jill K DeWit:
That’s the best. That’s the downside. That’s another good thing to talk about being a machine here you don’t want to get too hung up on something. You might not sell it maybe and you might make a bad decision if you are just really routine, it does better.

Steven Jack :
Yep.

Jill K DeWit:
It may sound monotonous, but it’s better.

Steven Jack :
Well, wait a minute Jill, you just said real estate agents suck. And now you’re building a line of business around a real estate agent. Yeah. Here’s the difference. Residential real estate agents who have beehive hairdos and an old Cadillac, you don’t want to list your land with them. You want to list it with somebody who’s got a cowboy hat on, who is very, very intelligent about the local market that you’re buying and selling real estate in and has a whole long constituency of buyers and home homeowners and people who live there. So he can, he or she can and reach them with the property that you own and sell it to them.

Jill K DeWit:
Right.

Steven Jack :
You want a guy in a cowboy hat to tell you, well, if you go into this zip code north of this street and south of this road, and it’s more than 5,005 acres and less than $5,000 per acre, I could sell that on all day long.

Steven Jack :
But if you go east of that road-

Jill K DeWit:
Don’t go there, don’t bother.

Steven Jack :
So now you’re building a whole business around a really intelligent, knowledgeable real estate agent in the local market. That’s changed our business and we keep adding lines of business to it. So one line might be in one county. Then we move three counties over that agent may or may not be good for that county. You just keep building lines. And that’s how you really, really get that machine going. Not if you’re spending an hour on every deal and you’ve got land [inaudible 00:08:52], all the funding that goes on in discord for land academy. So now you don’t have to come up with any real money and you’re using concierge data to do all your mailers. This is millions and millions of dollars that we are, and many people in our group are generating.

Jill K DeWit:
And not doing a lot of work.

Steven Jack :
Yeah.

Jill K DeWit:
That’s my best part.

Steven Jack :
Yeah. I mean, I would argue, correct me here. I bet we spend 10% of the time in our land business that we do in land academy.

Jill K DeWit:
Oh wait, wait.

Steven Jack :
It’s 90% land academy and 10% land business.

Jill K DeWit:
That’s true. That’s correct. Yeah. I agree. Happy you could join us today.

Steven Jack :
That’s it? You don’t have anything to say.

Jill K DeWit:
No, you covered it beautiful.

Steven Jack :
She’s done.

Jill K DeWit:
Rainbows and cupcakes.

Steven Jack :
Good thing tomorrow’s Jill’s Friday.

Jill K DeWit:
Thank you. Happy you could join us today. Five days a week, you can find us here on the land academy show.

Steven Jack :
Tomorrow is Jill’s Friday, your goals are your goals alone. You are not own in your real estate ambition.

Jill K DeWit:
This came up on week one of career path, number three, which we are into right now. And it was so great. Everybody went around the room, introduced each other, shared where they are, what they’ve done, not just in land investing, but in prior businesses and careers. And then they laid out their goals and it’s such a variety, huge variance in goals of what everybody wants to do. And so we’re going to talk more about that tomorrow. I thought that was. I love week one. That’s really fun. We really get to know each other. I love career path too. It’s really kind of fun. Thank you for tuning in. We hope you’ve found the content valuable and we appreciate your support. If you haven’t already, please check out our YouTube channel, hit the subscribe button.

Steven Jack :
We are Steven and Jill

Jill K DeWit:
We are Steven and Jill.

Steven Jack :
Information.

Jill K DeWit:
And inspiration.

Steven Jack :
To buy undervalued property.

Jill K DeWit:
Actually. It’s not kind of fun. It’s very fun.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com

https://houseacademy.com

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

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

How to Buy Your First Parcel of Land (ReAir LA 1679)

How to Buy Your First Parcel of Land (ReAir LA 1679)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill K DeWit:
Good day.

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

Jill K DeWit:
And I’m Jill DeWit, broadcasting from the Valley of the Sun.

Steven Jack Butala:
Today, Jill and I talk about how to buy your first parcel of land, the ever present question.

Jill K DeWit:
Yeah. People watch, they hear us, they see us. They’re like, “I can do this. Okay. What do I do? Ready, I’m here. I showed up. What do I do? Is there a list somewhere? Do I just pick from them?”

Steven Jack Butala:
Keep going. This is great.

Jill K DeWit:
Do I just, I don’t know, go online and pick one that looks good to me and just call the person, just call the agent? Is that the best way? And they just handle it all. I just write a check.

Steven Jack Butala:
I’ll tell you a hint, and we’re going to obviously cover this all in just a few minutes here. The secret to buying your first piece of land is in our ebook. If you haven’t downloaded our ebook, even if you’re a long time Land Academy member, it’s like 10 or 15 pages, I think. It’s just blow through a read, but it tells you how to get your first land deal done fast. 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. Please don’t forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:
Steven wrote, “Hope the holiday preps are going well for everyone.” So this is obviously from a couple weeks ago. “A question I’m curious about. When listing with a flat fee MLS service, do you provide for the buyer’s agent commission?” I have lot to say about this.

Steven Jack Butala:
I know you do. It’s perfect. I’m going to zip it here. You go for it.

Jill K DeWit:
“I have had some horrible experiences with unprofessional realtors. The problems have been with the poor quality of the listings they prepare.”

Steven Jack Butala:
Unprofessional.

Jill K DeWit:
I know. And in parentheses he wrote, “Why don’t you use the pictures I gave you?”

Steven Jack Butala:
Unprofessional realtors is a-

Jill K DeWit:
I know, we could talk for a whole nother month.

Steven Jack Butala:
That’s a redundant sentence, unprofessional realtors. Go ahead.

Jill K DeWit:
“Use the pictures I gave you, the ignorance of marketing outside the MLS.” I know.

Steven Jack Butala:
And out and out laziness.

Jill K DeWit:
“And the out and out laziness. If you get an offer on my property, forward it the same day, not the next week. I could go on and on. I like the flat fee”-

Steven Jack Butala:
I wish you would.

Jill K DeWit:
“I like the flat fee because I can control the listing details. I’ve been offering buyer’s agents the full 3%. No problem paying that if they bring a buyer. Do you guys think it makes any difference on the sales end to give the realtors their cut on the flat fee listing?” Okay. So here’s what-

Steven Jack Butala:
I like fat fee listing. I like your way better.

Jill K DeWit:
Thank you. So Steven’s talking about companies like Broker Direct MLS, and we’ve had other local companies that we’ve used. So what the heck are we talking about? Well, there are a number of places, brokers that say, “Hey, look for a flat rate fee, I’ll put it on the MLS for you. You’re doing the work. I’m not getting commission, but you can use my licensure and everything. This is all legal and legit. And through me, by paying me, I don’t have to get a commission. I’ll just take a flat rate. I’ll put it on the MLS for you.”

Steven Jack Butala:
It’s a tech company.

Jill K DeWit:
And some of them, they might help you with the work. I’m sure there are people out there that do that. Most of the ones I work with, and this is the way I like it anyway, they just say, “Here’s the paperwork. Fill it out how you see fit, check all the boxes that I would normally check. We’ll input it for you,” because they’re doing that. “And we’ll get it on the MLS for you. Give me the pictures that you want. Put the order that you want. Write the description that you want.” And that’s part of why it’s a win-win for both of them. They’re like, “I’m not doing any work. I’m getting on the MLS for you.” It’s probably great exposure for them because their names show up on there in some way. But it’s just getting on the MLS is what I want.

Jill K DeWit:
So when I first did this, like Steven’s talking about, I did it wrong too, by the way. I went in thinking, all right, I’m using this flat rate service, nobody’s getting a commission. I just want to get it out there. How I usually buy it without an agent, I also want to sell it without an agent. I’m not paying the listing guy anything other than a couple hundred bucks. Why the heck would I pay somebody bringing somebody to me a commission? Well, I lost sales because of that. I realized, oh, there weren’t brokers that are bringing because it’s now in the broker’s arena, not just places that the public is looking. So by not putting on there that I’m happy to pay a buyer’s agent commission, they were not putting my properties in front of their customers. I went, oh ding, ding. So I did change that, and I do happily pay that.

Jill K DeWit:
And you’re right. So why would I do this? Maybe it’s a property that it doesn’t command a lot of money, but I need more eyes on it. I don’t really need someone running out there. Well, maybe it’s an area like you’re finding, Steven, that you can’t find a good agent, and that happens sometimes. It just may not be a rocking land person working that area. There might be a lot of house people, but not land people. That’s what I’ve found. But I need to get eyes on it. So I will do the flat rate listing, make it look fantastic. Do all my own copy, all my own photos, all my own drone shots. And then when people call, they’re getting me, which is so nice. They’re getting me. I can put my phone number right in there, and I will happily, like I said, pay those agents the commission that they’re due. No problem with that. What do you want to add?

Steven Jack Butala:
So, Jill did a very good job of describing what a flat fee listing is. What you don’t get out of a flat fee listing … By the way, this cost maybe a hundred bucks instead of 3% of the purchase price, which is what you pay typically when you list it with a regular real estate agent. What you don’t get is any service at all, which is okay for us. We’re used to doing this stuff anyway. But consider this, finding a good realtor, it’s very hard, but once you do, you’ve got to stick with that person and you can create a business around them. If they’re responsive, they understand the market, they understand land, they understand you-

Jill K DeWit:
Wear a cowboy hat.

Steven Jack Butala:
… they understand you and how you do business and the fact that they’re going to get a listing a week, or three listings a week in some cases. We have one person where we shove everything to them in one state, and we do great. So you have to ask yourself, is it appropriate to flat fee list and do a lot of work and still pay 3% instead of 6% or in some cases 10? Or is it appropriate eventually to find the right person the way that you would find the right business partner or to find the right mate in life. It takes a lot of work and a lot of time and a lot of research, but once you do, it pays off great. So I would suggest if you’re down this flat fee listing path, it’s temporary. In the end, you need to find the right person.

Jill K DeWit:
That’s what I’m saying. I would use it when I can’t find somebody good. That’s really it. That’s what makes sense to me.

Steven Jack Butala:
Listen, it’s different. I don’t know, a year ago, this is all we did. This is all we talked about on the show, flat fee listings are the greatest thing ever. So, stuff changes.

Jill K DeWit:
Yeah, and only use social media, only do this, do Facebook, do all this stuff.

Steven Jack Butala:
So, stuff changes all the time.

Jill K DeWit:
Sell it all those ways. And if you really want to spend some money, do flat fee listing. And now it’s evolved into, well, class two, as a community, we’re all doing bigger and better deals. So, keep that in mind. When you’re selling a property that’s $90,000, you need to get it in front of the right eyes, and it probably is not TikTok.

Steven Jack Butala:
Yeah. Yeah. Well, here’s the math on it. Buy for 30, sell for 90, which is a lot of what we do right now. Maybe buy for 50, sell for 150. We have a broker that has proven himself over and over and over again to Jill. So we’re happy to pay 10%. In a lot of cases, we pay a flat fee listing to him of 4 or 5,000 bucks just to make sure that we’ve got his attention, because he’s that good. So for $150,000, 10% is $15,000, and we paid 50 grand for it and we don’t have to do anything. We trust that the guy’s got great drone shots and he answers a phone and he’s on time. And just about every time we list something with him, he’s got it under contract in a week or two. That’s worth it.

Jill K DeWit:
I agree.

Steven Jack Butala:
That’s what you’re after. Today’s topic, how to buy your first piece of land, first parcel of land. This is why you’re listening. In the ebook that anyone can go download on the Land Academy website, I wrote a long time ago, a lot of years ago, the first chapter says something like this. Drop everything you’re doing. If you want to be a land investor, do this. And I say, go into Craigslist, which is still true. I can’t believe Craigslist is still around.

Jill K DeWit:
I know. Isn’t that funny?

Steven Jack Butala:
But it still works.

Jill K DeWit:
In its same basic archaic form. I can’t believe it hasn’t really evolved.

Steven Jack Butala:
I read somewhere like a year ago-

Jill K DeWit:
Is there even an app for it now? I don’t know if there is.

Steven Jack Butala:
I read somewhere a year ago that a couple of guys got together. They were either graduate students or PhD candidates. And they rewrote Craigslist for free and submitted it to get college credit. They submitted it the Craigslist itself and said, “You guys need to get in the 21st century. If you want to do it, here, it’s free, and we’ll support it.” And they’re like, “Nope.”

Jill K DeWit:
No, we’re not doing it.

Steven Jack Butala:
When have you ever heard anyone be successful in the tech industry by digging their heels in-

Jill K DeWit:
By not making changes.

Steven Jack Butala:
… and saying, “The old way’s better”?

Jill K DeWit:
That’s hilarious. Nope.

Steven Jack Butala:
Go to Craigslist, go to wherever you see real estate, either the wanted or where people are selling real estate and type this in, some version of this. Cash waiting for your unwanted rural vacant land, phone number. And it’s shocking. To this day, it’s shocking how many people-

Jill K DeWit:
How many people just pick up the phone and call you.

Steven Jack Butala:
… reach out to us, reach out to me specifically and say, “Well, I did my first land deal. I’m not a Land Academy member, but apparently this works. Tell me where to sign up.” Is that the absolute right way to get into this business? Not at all. But if you’ve got some Jill like moxie and you understand real estate in general, yeah, you can get away with that in certain markets, for sure.

Jill K DeWit:
Here’s the point of that exercise, if I can just jump in for a second.

Steven Jack Butala:
Sure.

Jill K DeWit:
It’s not like I was joking in the beginning talking about, well, I can just go find one online and I’ll buy it. So, you’re not necessarily in a lot of situations dealing directly with the seller. That’s the piece that we’re trying to hit home with.

Steven Jack Butala:
She’s exactly right. So in my Craigslist example, as well as the entire Land Academy model, there’s no stuff, we don’t buy for sale property. We buy property directly from an owner that’s off the market, which is why it’s such a great deal. And we generate that transaction. So my Craigslist example is equivalent to walking into a casino, pulling down a handle, and winning the first time, which never happens. It might happen on Craigslist once in a while. It might happen in a casino once in a while, but that’s not the business we’re in. We’re in it to make hundreds of thousands of dollars, if not millions of dollars a year.

Steven Jack Butala:
So how do you do your first land deal the right way? You do a ton of research about how we buy and sell property, how we orchestrate a blind offer campaign, how we get involved, all of our members, us included, on a daily basis are involved in Land Academy Discord to ask questions. You go through all the education. So starting today, you’re about two months, maybe three months away from your first acquisition.

Jill K DeWit:
That’s what I wrote down.

Steven Jack Butala:
This is not get an E-Trade account, deposit 10 grand and buy Tesla stock.

Jill K DeWit:
In an afternoon.

Steven Jack Butala:
In an hour. That’s not what this is. And for that reason, and I say this with gleaming pride, that’s why the whole world doesn’t get it. If you get it, you’re one of the few and you’re one of the Land Academy group of people that understand this. You’re patient and you’re analytical and you have a little bit of sales in you, or you have enough in you to know that you need a salesperson. Or vice versa, you have enough sales in you to understand you need a tech person.

Jill K DeWit:
You’re a data guy.

Steven Jack Butala:
It takes a few months. What do you have down?

Jill K DeWit:
Well, I was going to say, that was kind of funny, because that was my first point too. Even the Tesla example, I’m not going to go and get an account in an hour because I heard one newscast and dump all my money in it. I’m going to do some research. You should be doing a whole lot of research.

Steven Jack Butala:
Months of research.

Jill K DeWit:
Study the area. And then it’s not even studying the whole process, but it’s studying the areas that you’re thinking of doing this. We have a version of, it’s our red, yellow, green test, where we know how to look at an area and then really dissect it, and then pit regions or zip codes or something within that together to really fine tune and make sure we’re not making a mistake before we ever download any data and ever send out any mail. That’s not how you test an area, by the way. We don’t just let her rip.

Steven Jack Butala:
We don’t leave any of this to chance.

Jill K DeWit:
Exactly.

Steven Jack Butala:
There’s no dart boards in our office. Jill had a, I’m going to let her describe it, but this week, actually … What is this, Tuesday? Tomorrow, we are launching our third Career Path, which is, if this is your career, then you need to look at joining Career Path. Jill had a conversation with somebody who signed up for it last week, who said, “Hundreds of thousands of dollars I made last year. I just quit my job. I’m scheduled to make one 1,500,000 this year.” So these are real stories that happen. I’m not sitting here trying to sell you anything. This person clearly gets it. Do you want to tell the story or?

Jill K DeWit:
You just did?

Steven Jack Butala:
Oh.

Jill K DeWit:
I don’t what else to add.

Steven Jack Butala:
I don’t know if there’s much more to it. I tend to extrapolate all the numbers out of a story and just say the numbers.

Jill K DeWit:
That’s all you get out of that. I know. I understand. I can tell you where they live. I can tell you about their family. I can tell you what’s going on in their world right now. That’s okay. That’s why you have me.

Steven Jack Butala:
But there’s a methodical A to B to C way of buying real estate, all real estate, not just land, through doing a ton of research about defining your acquisition criteria, finding the properties that fit your acquisition criteria in general, sending everybody an offer with an actual price on it.

Jill K DeWit:
Step two.

Steven Jack Butala:
And then fielding those offers with somebody that-

Jill K DeWit:
Step three.

Steven Jack Butala:
… understands how to talk to people, unlike me, and buying the property and then reselling it for more quickly. That’s how you do this. And it doesn’t happen overnight.

Jill K DeWit:
No. So that’s why I said, so one is study the area, of course. Two, send mail. And three, answer the phone. This is about just buying it. Not selling it, not building a business, not quitting your job. That comes later. All this is about just starting with step one and making sure you buy it right. There’s a lot of research that we do that goes into not only picking areas and sending out the mail and pricing offers, and that’s on Steven’s side of the sheet. And then when it comes into me, there’s still due diligence involved. Let’s make sure we can do what we think we can do with this property. Do we really want it? Does it have the six A’s. Yes, hold onto your hat. There are six now. It used to be four A’s. Now there are six.

Jill K DeWit:
That’s going to be another show, where we’ll cover all that. But doing that. And before you even get to the due diligence part, one of the main steps people miss in how to buy your first parcel of land is answer the phone. People, they’re like, “Oh, I’ll just let it go to voicemail. See if they fill out this form online. I’m going to direct them here.” Don’t make it hard for them. Make it easy for them. That’s my best tip on buying your first parcel of land. You make it so darn easy and they love you, that they want to sell to you. And they’re like, “I just want to get X out of it. It’s yours.” And you go, “I’ll take it from here.”

Steven Jack Butala:
I spent almost 25 years making mistakes doing this. I did failure after failure, not so much failing, failing, but wow, I could have really done that better. I made some money, but we can do it better next time. So if you’re going to spend two or three months of research and some money on education or invest your time, however you look at this, why would you just buy one property? That’s what Land Academy’s all about. We’re not hobbyists here. We’re here to become multi-millionaires in 12 to 24 months. So, my point to writing this title was how to buy your first piece of property, it all starts with your first property, but how do you buy 1000 properties might be a better discussion.

Jill K DeWit:
That’s another show.

Steven Jack Butala:
Because it’s the same process.

Jill K DeWit:
It’s true.

Steven Jack Butala:
Exactly the same process.

Jill K DeWit:
I haven’t said that in a while, but that was one of our sayings. If you can buy one, you can buy 10. And if you can do 10, you can do 100. Hang on. Happy you could join us today. Five days a week, you can find us here on the Land Academy Show.

Steven Jack Butala:
Tomorrow, well it’s House Academy. It’s the House Academy Show tomorrow, and we’re going to talk about house deals made as easy as land deals. You are not alone in your real estate ambition.

Jill K DeWit:
People don’t realize that the same techniques that we use here also carries over to anything you want to buy.

Steven Jack Butala:
Strip malls, trailer parks, ice scrapers.

Jill K DeWit:
Once upon a time, there was going to be a car academy and a airplane academy and a boat academy, which there’s a lot more to those things, and we’re land people. But it’s the same concepts, especially for all ways of real estate. I know we’ll talk about that more tomorrow. Thanks for tuning in. By the way, don’t forget, if you’re a Land Academy member, make sure that you are with us on Discord. We are Steve and Jill.

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

Jill K DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. 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://ownersdata.com

https://houseacademy.com

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

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

How to Schedule Your Days Successfully (ReAir LA 1529)

How to Schedule Your Days Successfully (ReAir LA 1529)

Transcript:

S Jack Butala:
Steve and Jill here.

Jill DeWit:
Hello.

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

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

S Jack Butala:
Today, Jill and I talk about how to schedule your days successfully.

Jill DeWit:
All right, brain, go for it.

S Jack Butala:
Full disclosure, this is one of my favorite topics, and here’s why. Not because I love to live in my calendar, but I love to make money. And this is the only way I know how to actually run a crew and make money and sleep at night, quite honestly.

Jill DeWit:
I thought you were going to say, I love to make fun of Jill.

S Jack Butala:
No, I don’t want to … Jill’s amazingly good at this. She doesn’t realize it, but we’ll make fun of her in a minute.

Jill DeWit:
I kind of am. I mean, I do, on the big stuff. Maybe the little stuff, I kind of slack on, but remember I have my reasons why. We’ve talked about that.

S Jack Butala:
Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free. And if you’re already a member, please join us on Discord.

Jill DeWit:
Sandy wrote, “I just joined Land Academy a couple months ago. Honestly, I have stuck with my mailing procedure. Oh, I stuck with my mailing procedure instead of starting from scratch with Offers 2 Owners.” I’m curious what her old procedure was. I hope it wasn’t handwriting letters with the family at dining room.

S Jack Butala:
You’ll see. There’s a reason this made it into-

Jill DeWit:
Oh, it’s coming? Okay, good. I’m excited to see what this is. Okay, Sandy. Here we go. “Unfortunately, I received an email today that states I have to send my mailers first class.” Oh, that’s funny.

S Jack Butala:
But it’s hilarious.

Jill DeWit:
Here come the questions. “Number one, is it standard practice to send first class?”

S Jack Butala:
Not at all.

Jill DeWit:
“Number two, does O2O require that offers be sent first class?”

S Jack Butala:
Heck no.

Jill DeWit:
“Number three, how many people send first class versus standard?”

S Jack Butala:
Very, very few, if that.

Jill DeWit:
“Four, other than the obvious price difference, has anyone tested to see if there are any other differences, ie. performance, ease of mailing, et cetera? Thanks so much for any help you can give, Sandy.” Sorry.

S Jack Butala:
If you’re over 80, this matters.

Jill DeWit:
I don’t think it matters.

S Jack Butala:
If you’re over 80 and you’re receiving a letter. I don’t even look at how it’s stamped ever. I mean, none of us do.

Jill DeWit:
No. No, we don’t.

S Jack Butala:
First class is something that happened like in World War II and, I’m not exaggerating. No. And it goes on, everybody had some stuff to say about this, me included actually on … And if you want to see it all-

Jill DeWit:
Was she licking stamps?

S Jack Butala:
… it’s either he or she, we don’t know. And no, they were using click to mail. And so Click2Mail, it’s not even a competitor, but it’s another way you can send mail for twice as much money, and it’s very popular with non-members of Land Academy and everybody changes over. And even Sandy now goes on to say at the bottom of the string. It was too long for me to include in this.

Jill DeWit:
It said, so I get it? I hear ya?

S Jack Butala:
So Click2Mail went into this whole thing about, they sent it to all their people saying, “If you’re sending these, this and this, and here’s the regulations from the Post Office,” and they cited it all.

Jill DeWit:
How sneaky. That’s sneaky, making you think you have to do that.

S Jack Butala:
Our other members just jumped right in and took screenshots of how this is all fiction.

Jill DeWit:
Wow.

S Jack Butala:
So look, I don’t want to blow my own horn here, but I am for a second, our horn. O2O rocks. O2O is set up to do this. If you want a pizza place, use Click2Mail to send out a mailer.

Jill DeWit:
Like postcards or something.

S Jack Butala:
Or whatever, anything, colored stuff, all of that, colored mailers, four color bleed mailers. If you’re sending offers to owners, this is the place to do it. This is what we specialize in. This is all we do.

Jill DeWit:
Thank you.

S Jack Butala:
We’ll leave it at that. It’s ludicrous. There’s so many silly … Jill and I started Offers 2 Owners because of stuff like this, because we got sick of sending … We sent out millions of letters before O2O.

Jill DeWit:
And the expense.

S Jack Butala:
Yeah.

Jill DeWit:
The ease and the expense and setup fees and rigamarole. And that’s not cool.

S Jack Butala:
It’s you get fee’ed to death. There’s no fees with Offers 2 Owners. I’m not going to make this a commercial, but if you already send mail out, you know.

Jill DeWit:
Yeah. So, well let me back up. The only difference I would think that someone would really consider sending first class mail is maybe they want to try to get it there faster. And you know what? I don’t think that matters.

S Jack Butala:
I don’t either.

Jill DeWit:
It’s really going to be days, not weeks, of a difference, number one. And number two, so what? Your first mail goes out, it takes two weeks to hit instead of one. Do I care? No.

S Jack Butala:
I agree, Jill.

Jill DeWit:
Because the cost saving is what’s important here. And that two weeks, if you do it right and you set up yourself in a system, you only have that two week waiting period one time, because now you’re in a system. So you know that every two weeks, this hits and then this hits, and you have it consistent. So you never have a lag. And that first two weeks, big flipping deal. That’s when you make sure your phone works, your spreadsheets are set up. You maybe start doing some recon about, well, if this comes back and it looks great, I’ve already got brokers that I’m to run this by. I’ve already pre asked some questions to the county. So I know how this goes. Whatever it is, you use that time wisely, and then you don’t think about it.

S Jack Butala:
Just about every mistake that a person can make sending mail out, offers to owners to buy real estate, I’ve made it.

Jill DeWit:
Yep. We’ve done that.

S Jack Butala:
And this is the 25 years of mistakes, results of how it works. And every single time or every let’s say monthly slot of people that join Land Academy, there’s two or three that say, “I don’t believe you, and I’m going to do it this way.” And they always come back.

Jill DeWit:
They spend more money.

S Jack Butala:
Come back and say, “Yeah, I guess that’s why they do it.”

Jill DeWit:
Yeah, oops.

S Jack Butala:
Mailer yield, like getting a couple more offers or a couple more signed purchase agreements out of a 3 or 4,000 unit mailer is an obsession with some people.

Jill DeWit:
I understand that.

S Jack Butala:
Which leads me into the topic today. Today’s topic, how to schedule your days successfully. This is the meat of the show. If you want to succeed at this, you’ve got to set goals and you have to set timeframe milestones, and you have to follow through on them. Man, I sound like your father.

Jill DeWit:
That’s true.

S Jack Butala:
And I know I do. And I know this is not the most favorite topic for a lot of people, but I can say this with confidence. All the people, with very, very, very few exceptions in the advanced group, live and die by their calendar. Not only with their land company, but in most cases with their engineering jobs or their other companies that they own. That’s the only way to get anything done. So this is how I do it. Picture a triangle on its nose, an equal triangle on its nose or a funnel like in the kitchen, where you’re funneling something, liquid into a smaller hole, or a motor oil, filling motor oil with a funnel.

S Jack Butala:
At the top is all these big picture goals that you have and what you want to accomplish. And as you move down the funnel, as the liquid moves down the funnel, you want to achieve that singular goal, which for new people should be getting that first deal purchased. That’s the first, the hardest part. Once you get that first deal purchased and then sold, you’re either going to love this or you’re going to hate it, or you’re going to see the light. It happened to me. I purchased and sold my first property quickly and it looked like a big, huge train wreck mess, but it was profitable. And then that was it. For some reason, I knew that I wanted to do that for the rest of my life. So you need to get a calendar. This is all in the education, by the way. But we don’t write these topics anymore. Our customer service people do, so people must be asking about it.

Jill DeWit:
I have some questions to ask you when you get your first point across. I have follow-up stuff.

S Jack Butala:
Okay, good. So, my first point is just about ending. Start with the end. If you really want to purchase a piece of property for less than half of its existing value in its existing condition, if that’s the bottom of your funnel, then work all the way back piece by piece by piece. And don’t rush through this. There’s nothing fast or easy about Land Academy. Our sales team, we have one sales person and he’s like, “Oh, you said stuff again that’s going to make my job harder.” This is not fast or easy. There’s a huge learning curve to it, and it’s very brainy. At least getting that first piece of property purchased is. So without going into all the details of do this, do this, do this, because that’s very personal. It ends with buying a piece of real estate for half, and it starts at the big top of the funnel with education and learning from other people, which if you’re listening to this show, you’re at the top of the funnel.

Jill DeWit:
Our team would like you to please speak on how you get your inbox to zero and then how you use your scheduling system with your emails.

S Jack Butala:
Right. So, this is self-taught. I don’t know why I started doing this. I started doing it about two or three years ago. I see a lot of people, maybe some people on the stage with me, use their inbox and it equals their to-do list. So something will come in or a phone call will come in, they stop what they’re doing, and then they deal with the phone call or they deal with the thing that popped into their inbox, and they do it. And that’s the fastest way to fail at anything.

Jill DeWit:
That’s very true. You can’t do that. We don’t do that. You have to schedule it out.

S Jack Butala:
You have to schedule your … You have to-

Jill DeWit:
Like have dedicated time.

S Jack Butala:
Yeah, exactly. Schedule all the tasks that you need, including hiring people. If you’re too bogged down and you can’t answer your own phone, which I understand, then schedule some time to hire PATLive or whoever you use to answer your phone. And any time that something comes in to that inbox, what I do is I either, in the morning I go through it all. Actually I do this two or three times a day when I have gaps of time.

Jill DeWit:
Perfect. I want to ask the questions about this. So it’s not like 9:00 AM, 1:00 PM, 3:00 PM.

S Jack Butala:
It’s like that.

Jill DeWit:
Okay. But it’s not in the calendar that way. It’s you do first thing in the morning, midday and whatever.

S Jack Butala:
Yeah.

Jill DeWit:
Okay, cool.

S Jack Butala:
It’s in the calendar.

Jill DeWit:
Okay. That’s why I’m asking. All right.

S Jack Butala:
Clear out your inbox is in my calendar three times a day.

Jill DeWit:
Okay, cool.

S Jack Butala:
Actually it’s rolled into, I do a bunch of stuff before 9:00. One of the things is clean out your inbox. It’s not scheduled in the middle of the day. I just naturally do it. And then at the end of the day, I have a bunch of day end activities that I do, which is clean out my mailbox. So unless something’s on fire, and even then, if something’s in there that I get … Right now, Jill and I are doing all of our estate planning. So if I get an email, for example, from the lawyers that are asking me questions or clarifying stuff, I don’t answer it. What I do is I schedule it to be answered the next day or whenever it’s appropriate.

Jill DeWit:
That’s the tip. I want to touch on that for just a second. And that’s a good tip and that’s how I do it too. You could in an email, schedule it in 365, or depending what email system you have, you could just copy and paste or highlight, whatever, put the meat of that into an invite on your calendar. And then you delete the email. That’s the whole point is get the email down, have it on your calendar, and you don’t stress about it. You don’t have to think about it. You know it’s going to get done. You know when it’s going to get done because it’s scheduled, and you have all the information that you need to do that.

S Jack Butala:
This part of what I was going to talk about today, and I’m glad you brought it up. This takes all the stress out of my life. I was a stressed out mess in college because I didn’t have a system like this. I didn’t know what to study for or when. I was always behind. I was always running around, a running around mess to get to classes or to get to the library or get textbooks or whatever.

Jill DeWit:
It sounds like a normal guy thing at that age.

S Jack Butala:
I failed at it.

Jill DeWit:
It’s a normal guy thing, right? You had to learn.

S Jack Butala:
I didn’t literally fail, I got out of there okay. So no, you learn stuff the hard way. And then when you get a job, here’s the thing that I really want to make this clear, because you get out of school and you get a job and then somebody else has a calendar for you. And if you work for a huge company like Jill did right out of the shoot, they’re telling you where to stand and what to say and how to do it. They’re training you. So, you get real lazy. As an entrepreneur, you need to make a schedule and you need to stick to it harder than you did when you were employed.

Jill DeWit:
You know what’s funny, I have something to share when you’re done.

S Jack Butala:
Yeah.

Jill DeWit:
So I started out that way and then I ended that way because before I had a job with a time clock basically, I had all the freedom to do what I wanted. And I used to care because my dad taught me the spiral daily calendar things, he carried one, so I started carrying one. I always had a calendar. And then I went to, it was before cell phones. It was a little, like a Sharp flip-up calendar thing. It was a little electronic thing. It wasn’t FranklinCovey.

S Jack Butala:
Oh, I remember that too.

Jill DeWit:
It was Sharp or something like that.

S Jack Butala:
It was called a daily planner or something.

Jill DeWit:
But it was a little thing that you could put in your purse. There was no color involved. It was the one color. It was a really cool thing. It didn’t interact with anything, but it was electronic.

S Jack Butala:
I remember that.

Jill DeWit:
And I could use it to put notes in there. So I started doing that. I’ve always been very minutely calendar focus detailed. I just have relaxed it over the years to a point that it makes you uncomfortable, but it still works for me.

S Jack Butala:
No, I think now you’re Johnny on the spot.

Jill DeWit:
Okay, good.

S Jack Butala:
I think that when Jill got let out of her cage from her W2 job and we joined forces-

Jill DeWit:
I got really comfortable a little bit. For the beginning, that’s true, because you know what, I needed a little downtime.

S Jack Butala:
No, I understand. I completely understand.

Jill DeWit:
It’s like someone, like the people that sell a company and they hole themselves up in Mexico in a hotel penthouse for a year. It was kind of like that, but not like that. Like Brockmire, I can afford to take a little break there and catch my breath.

S Jack Butala:
Well speaking of breaks, this is literally what Jill and I do. We schedule our breaks.

Jill DeWit:
Yeah, fun time.

S Jack Butala:
So sometimes we have whole days where we’re not going to do anything, and we, without guilt, go have a rip-roaring blast because I know everything’s going to be scheduled or is scheduled. I know exactly what I’m supposed to do on Monday morning, and I can take Monday afternoon off with no guilt. You have to schedule everything. And in the beginning, I would schedule every single tiny little thing. If you’re going to workout for 20 minutes in the morning, schedule it, and then do it and mark it off and give yourself a reward, some reward.

Jill DeWit:
I know Land Academy members, I love this, that are huge fishermen, for example, and they’re only doing like one deal a month, one big deal a month. And it’s like hunting week or fishing week or every Friday, every Thursday and Friday, whatever it is, they schedule it out.

S Jack Butala:
Drinking week.

Jill DeWit:
And I love it. Okay, that might be you. Do you do that?

S Jack Butala:
No.

Jill DeWit:
Okay.

S Jack Butala:
If I do, it’s with you.

Jill DeWit:
Oh, okay. That’s true. That’s awesome.

S Jack Butala:
And this leads me to my final point. So great, Jack, how do you do it? I cannot say enough positive stuff about Microsoft 365. I think that if you’re in the beginning of your career or even in the middle and you’re not using it, I urge you to take a look at it, and here’s why. It will grow with you. There’s different levels and subscriptions. There’s no upfront cost. The initial subscription’s free.

Jill DeWit:
We get nothing, by the way. We’re not paid anything.

S Jack Butala:
Oh, yeah. Yeah.

Jill DeWit:
We’re not affiliates or anything. I wish we were.

S Jack Butala:
You can build an empire on Microsoft 365 with limitless employees and all the access levels. You can lock it down. You can launch websites from it. You can take it … I don’t even, we probably use 3% of what it’s capable of.

Jill DeWit:
It’s true.

S Jack Butala:
It ties to everything. So, every employee around the world. And it’s universal. You talk to somebody in the Philippines and ask them to use Microsoft 365, they’re going to say, “Oh yeah, I don’t need any training on that. I know exactly how to do it.” Google Drive is a go-to free tool for kindergartners, and Microsoft 365 is for people who want a career. For instance, I was the administrator and set it all up. At some point, I stopped being the administrator and we hired somebody, and then she became the administrator, Erin in her office. So I didn’t have to any longer, and then she managed it. And there’s nothing really to manage. It’s a file sharing system. It’s everything that you could want to run a land business. And its costs, you pay by employee, so you can completely control it. It’s totally affordable. Jill’s right. There’s no money for this that we get.

Jill DeWit:
It’s cool.

S Jack Butala:
And it loops you into Outlook, which we all have used at one point. People have tried to create a better product and not succeeded.

Jill DeWit:
So we not only talked about everything, our scheduling and our tips, but what we use. So if you’re not set up now, I don’t know what to say.

S Jack Butala:
I will not leave my desk at the end of the day, at the end of a work day with anything in my inbox, in my voicemail or any missed calls that aren’t rescheduled, those three things.

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

S Jack Butala:
Tomorrow, the episode on the Land Academy Show is called Career Path: What We’ve Learned. You are not alone in your real estate ambition.

Jill DeWit:
That was awesome. You covered a lot. You covered way more than was asked of you. So I think that was really beneficial. I’m sure it was beneficial. So, thank you. If you need access to any sort of ownership or property details, including owner phone numbers and FEMA flood map overlays, check out NeighborScoop.com or ParcelFact.com, created by investors, that’s us, for investors like you. We are Steve and Jill.

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

Jill DeWit:
And inspiration.

S Jack Butala:
To buy undervalued property.

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