Jill Friday - How You Know You are Good at Something (LA 1621)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Happy Friday.

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 sun.

Steven Jack Butala:

Today Jill and I talk... Well, it's Jill Friday, and she's going to talk about how you know you're good at something.

Jill DeWit:

Do you know what you're good at?

Steven Jack Butala:

Yeah, I'm probably a unhealthy level of confidence in about two or three things in life. And then everything else is just like, "Wow. I need to improve on that."

Jill DeWit:

Oh, come on. You're good at more than you think, and I actually have a couple of things here. This is not going to be all like, "Oh, this is great. We're going to hear them tell each other how great they are." No, but I'm going to give some good examples of some things so you can figure out what you are good at.

Steven Jack Butala:

I have several questions. Please don't answer now, but my biggest question on this is, do you think that... It's nature/nurture, you know? How much actually can you change?

Jill DeWit:

We can talk about that.

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, and don't forget to subscribe on the Land Academy YouTube channel, and comment on the shows you like.

Jill DeWit:

Buckley wrote. "Hi, all. Question on utilizing a checkout card processing feature on your land sell website. At what point should this be set up? My first mailer is just now getting out the door, so I don't actually have any property to sell, but I'm trying to get ahead of the stumbling blocks later. I know Land Academy has the Heartland payment systems set up for Land Academy members. Thought someone implement this, and the ease of use. I'm totally new at it all and trying to learn. Thanks."

Jill DeWit:

I love this. This is so funny. Do you want me to just jump right into one of our answers? So one of our members, he goes by Old Steve, put a comment in here. We're going to read his answer to this question.

Steven Jack Butala:

To which my response is, I'm Older Steve.

Jill DeWit:

That's right. Old, not Older, Steve wrote, "Specialization is key. We buy 100 plus installment contracts a month in another vertical. Since we're first and last a lending business, we have those issues managed. Because it's what we do, I don't sell land or buy land and take pictures of land to post for sale. I take payments and collect or repossess on past due accounts. I agree that there is only one way to do this, hold title..." Does this really apply to this? I'm confused.

Steven Jack Butala:

Can I read it?

Jill DeWit:

Yes, please. Go ahead. Because I'm not getting it.

Steven Jack Butala:

Old Steve says this, "Specialization is the key. We buy 100 plus installment contracts a month in another vertical. Since we're first and last a lending business, we have those issues licked because it's what we do. I don't sell and buy land. I don't take pictures, I don't post land. I don't mess with that. I take payments and collect or repossess on past due accounts.

Steven Jack Butala:

"I agree that there's only one way do this. Hold title until paid in full, collect a decent down payment, so the buyer has something to lose. 40 years in the credit and collection business. All the noise is under the $5,000 deals. How about actually underwriting? Nobody seems to do that. Proof of sufficient income through bank verification.

Steven Jack Butala:

"We have a full online scoring model. 500 applications a month go through the machine. So sell on terms. I'll buy all the risk that's associated with that and discount it. Be a great land investor." This is his advice. "Let somebody else be the collector." Namely him. "Maybe a group Zoom on how to put these terms deals t...