AH-HA Moment in Every Acquisition (LA 1382)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWitt:

Hello.

Steven Jack Butala:

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

Jill DeWitt:

And I'm Jill Dewitt broadcasting from sunny southern California.

Steven Jack Butala:

Today Jill and I talk about that aha moment that every good acquisition should ... topic, and it's, I think ... Yesterday we talked about title insurance and stuff. This is what separates people, this type of topic, or really it's the specific topic, what separates people from being great at acquisitions and people who just are probably either brand new or just don't have a real knack for it. So we'll do a question and then we'll get into the topic.

Jill DeWitt:

I was going to add real quick, the reason this is important is for sales. It's not just thinking about, do I buy it, not buy it? You know when you look at it like, "Oh." But this is the beginning of how you're going to sell your property because whatever jumped out at you is going to jump out at your buyer, and I'll tell you all about what to do with that.

Steven Jack Butala:

I also think it applies to everything in life that's important. Every one of us ... a dress. You know what? I need to have this. And it makes me have a feeling like I've looked at a hundred dresses before, but this one, wow. And if the shopkeeper has got that dress in the window, they're smart. They know that it's going to bring you into the store. It happens with cars. It happens with girls. It happens with children and real estate.

Jill DeWitt:

Here's a problem with the dress analogy. Over 50% of the time, I'm here to tell you right now, this is true. Any woman listening will back me up on this. The dress looks better on the model than it does in life. So we won't use the dress anymore.

Steven Jack Butala:

Okay. Okay. I have a lot to say from-

Jill DeWitt:

All right. Is it for me to read the question now?

Steven Jack Butala:

... a man's standpoint. I have some stuff to talk about. Take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWitt:

Jessica wrote, "Hi. I've only done a few micro mailers and I'm ready to scale up. I'm curious how people send multiple thousands of mailers to the same county. Are people who are doing this sending mail to all vacant parcels across a very wide range of lot sizes? For instance, in my last data poll, I requested all vacant land with no improvements and property sizes from five to 15 acres. This resulting record count was 876 records. This is not an overly rural area. So am I not searching for the data correctly or are other members sending to a larger variety of property sizes or something else? Thanks." This is you, Steven.

Steven Jack Butala:

Yeah, for sure. What I want you to do, Jessica and everybody else, is go into DataTree, go into the advanced search option, choose your state, choose your county and then start clicking the button for count requests. This is much more laborious and much more difficult and painstakingly slow to do in RealQuest Pro. So DataTree's the best place to do this. Even if you end up downloading the data from RealQuest, that's fine, but this is an almost immediate ADD type way to see what's going on. As far as the problem with Jessica, what's going on, it's not a problem. You're learning is with no improvements. So some of these data sets the way that they're put together by the developers, there's a real big difference between zero and null. Null is just an empty space. Zero is the value zero. So sometimes the way that the assessors send their data to these aggregators, like DataTree, they might have a zero in there. If they're accountants, they have zero in there. If they're artists, they have null.

Jill DeWitt:

[crosstalk 00:04:21].

Steven Jack Butala:

Everything has to have a value. Go ahead, Jill, make fun of me.

Jill DeWitt: