Common Misconceptions about Property Flipping

Jack Butala: Common Misconceptions about Property Flipping. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

Jack Butala:

Jack Butala here for Land Academy. Welcome to our cash flow from land show. In this episode, Jill and I talk about the questions we've received as speakers at a local REI event.

Jill, this is so much fun giving talks like this with you. It's so fun to face to face get everybody's... We'll explain what an REI event is in a second here. It's a lot of fun.

Jill DeWit:

It is a lot of fun.

Jack Butala:

Let's share the whole deal with our listeners. Before we do, we'll take a question from a caller.

Jill DeWit:

Carol from St. Louis called in and asked, "I work full time, and I'm trying to do this on the side. What is the best way to handle calls that come in when I'm at my day job? Hoping to leave that in a year."

Jack Butala:

Wow, that's a good question.

Jill DeWit:

It is.

Jack Butala:

Do you want to answer it?

Jill DeWit:

You start, please.

Jack Butala:

This is actually incredibly important. I made this mistake when I started out. You really don't want to use your cell phone. It's going to catch up with you pretty quickly. If you're sending out mailers and offers... If you're doing it properly, these are documents that recipients are going to stick in the physical file folder forever. You want to have a phone number on there that's going to last forever. This is good, free advice. Don't use your cell phone. Cell phone numbers change, people move, stuff happens.

You need to find a place maybe online like ringcentral.com ... we have no affiliation with these people... You need to find a place where you're going to get a phone number that you're going to have for an extremely long time. I know it costs money. Nobody likes to pay monthly fees for all this stuff. We get calls on mailers that we've sent out from the early 2000s because of that. If we ever changed our phone number, it would be lost.

To answer your question, Carol from St. Louis, you need to hire a service that's going to answer your calls, a live service. You're going to dramatically increase the number of deals that you do. If someone live answers the phone, and they're nice, and they say, "Carol is not here right now, but she usually returns her calls at XYZ. Thanks for calling." That makes a world of difference in my opinion. Some people will say no and maybe just a cell phone message.

Jill DeWit:

In success plant, I see a couple different people doing different things, trying different things, and even having different scripts on their ... they have recordings and scripts. I don't know what all the percentages are, but I've been watching people try different things. There are a lot of folks in the same situation. This is not their number one thing. They're hoping it's going to be their number one thing. They just can't take the call at that time.

Another interesting point is: A lot of times I have sellers calling on weekends too, because they have jobs. So sometimes it works itself out. Be available if and when you can.

Jack Butala:

Here's how Jill and I do it. A long time ago, probably 2001 or 2000 I moved my office from my house to an office share situation. Different parts of the country call it different things. Out here we call it office share or executive offices. It's certainly not the cheapest way to go but it's the most convenient. You're in an office building with a bunch of other people like attorneys and whatever who have different practices or do different things for a living. We have a common receptionist/admin help, which we never use.