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Extraordinary Deal Funding Volume (LA 1710)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill K DeWit:Hi.

Steven Jack Butala:Welcome to The House Academy Show, entertaining real estate 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 the extraordinary deal funding volume we're experiencing.

Jill K DeWit:It's so good.

Steven Jack Butala:I, for years and years said, "We've created Land Academy and House Academy to create business partners for ourselves." Well, it's happening.

Jill K DeWit:Well, you know what's so funny? We didn't plan for everybody... The way it worked and doing deals together and having more money and helping people with our money was, we thought about, but the fact that other people are helping other people with their own money, I never thought about.

Steven Jack Butala:This is one big legal syndication that we have going on here. I've never said a sentence like this in my life and never thought it was possible. Jill and I could get anything funded, any deal of any size. If we believed in the real estate deal and sent out mega crazy mailers, which we're doing this year, and we will run out of money at some point that we've allocated to buy land, we'll very easily get funding on the rest. And that goes for you too.

Steven Jack Butala:As a Land Academy member, you have access to tens of millions of dollars or more if the deal's good. I'm really proud of that. It's a serious accomplishment. It was one of the things that I tried to set out to do with this right from the beginning. Before we get into it, let's take a question posted by one of our members on 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 K DeWit:Erin wrote, "Anyone have a suggestion for this one? I need a mailbox to get back offers, but I'm not sure what to do since I may move in the next six months from the West coast to the East coast. If I set up one on the West coast, then I guess I could forward the mail to the East coast, but it seems very inefficient and would create a lag in responding to potential deals. Any ideas on how to better do this? Piggybacking on my last question, how about a phone number? Should I try and get a local area code number for Texas, let's say if I'm after Texas land, if no one cares what area they're calling back as long as you have the money?" I'll read this one response. Is it one response in here?

Steven Jack Butala:Yeah.

Jill K DeWit:Okay.

Steven Jack Butala:Just one.

Jill K DeWit:And then I'll add to it. Member Leonard already wrote in to help Erin here, and it says, "Hi. What I typically do is keep the phone number to the same area as my mailing address. We have used local area numbers and I don't think it makes a considerable difference. It does help if you're calling local realtors to have a local number. Don't overcomplicate it for yourself. We use," this is what I was thinking anyway, "www.virtualpostmail.com, and they email us a scanned copy of any letter." This is the best. That's what I was going to say. "Our phone system is open phone and it's $10 per number per month. Keep your business address forever." There you go.

Steven Jack Butala:This response is-

Jill K DeWit:Perfect.

Steven Jack Butala:- from a father and son team in Ireland.

Jill K DeWit:Yeah. [crosstalk 00:03:16].

Steven Jack Butala:If anybody has figured this out, it's somebody from a different country and got a time zone that's what, seven or eight hours different?

Jill K DeWit:Yep. There you go. I can't do it any better, but I was going to mention, thank you, Leonard, for putting in there the name of the company. I couldn't think of the name of the one, but I knew they existed, where you have a physical mailing address where your mail will go. They open it, they scan it,

How many Land Academy Members are There Really (LA 1709)

Transcript:

Steven Jack Butala:

Steven and Jill here.

Jill K DeWit:

Hello.

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 many Land Academy members are there really?

Jill K DeWit:

Well, there's got to be like five million of you guys, right?

Steven Jack Butala:

We asked this question to our Career Path people. We said, "You know what? Just type in-"

Jill K DeWit:

What you think.

Steven Jack Butala:

Jill and I ... Hold it. We have Career Path, we're in the middle of Career Path right now. "Please type in how many members you think there are, and then how many members you think are active." And we got crazy responses.

Jill K DeWit:

We'll share.

Steven Jack Butala:

We'll clear it up here in a second.

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

Jill K DeWit:

Luke wrote, "With all this talk of the IRS." I guess it is the beginning of the year and it's tax time, that's true. "With all this talk of the IRS, taxes and our business model, I think Steve and Jill should nail down a CPA to have on a Thursday night call or one of the newbie calls. I'm sure we'd all learn a ton and have a general idea of what to take to our own CPAs. Just a thought."

Jill K DeWit:

Boy, I wish we could.

Steven Jack Butala:

How many times-

Jill K DeWit:

We tried to nail down our guy.

Steven Jack Butala:

Here's my question to Jill, this is unrehearsed. How many times have we contacted lawyers and accountants to be part of our group and help educate us and, "Give you a free time slot. Join us on the Thursday call, join us on the podcast. Maybe, I know it's crazy, maybe you offer your services to a closed group of people that have the same interest."

Jill K DeWit:

"And maybe you can charge for it, and maybe build your business."

Steven Jack Butala:

And here's their answers, across the board, "Nope, nope, nope. We have enough clients. Thanks, no. No."

Jill K DeWit:

It's shocking.

Steven Jack Butala:

Just the answers have been from all different types of lawyers and accountants-

Jill K DeWit:

Shocking.

Steven Jack Butala:

... and CPAs. Across the board, no.

Jill K DeWit:

Shocking. Yeah, it's hard. I get it. I'm with you, Luke. It's hard to find a CPA who connects with you. We were talking to one of our ... Speaking of Career Path, we were talking to one of our moderators and helpers in Career Path. And his accountant is more on the ball a bit than our guy. And we're doing fine with our guy, thank goodness I have Jack here to make sure our guys stays ahead of the game.

Jill K DeWit:

But Brandon's guy's even better than that. I'm like, "I want your guy," but I know the answer. They're going to be like, "Nope." They're happy. So when you find an accountant-

Steven Jack Butala:

Or if you are one.

Jill K DeWit:

... or an attorney, and you guys connect and they understand your business, I mean really understand your business. Don't have you getting an LLC and filing tax return on all 50 states.

Jill K DeWit:

That's a pet peeve of mine. If you're listening to this right now and your accountant says, "You need to have an LLC and do taxes in all 50 states," you need to interview another accountant. And here's the point.

Steven Jack Butala:

Let's not give advice here, Jill.

Jill K DeWit:

No, but here's my point. Let me finish my thing.

Steven Jack Butala:

Yeah.

Jill K DeWit:

Accountants and attorneys all take things ... They all read things differently. So my point ... Even down to how you're going to pay your employees. Some people say you should pay them this way, W-2,

Evolving with Land Academy (LA 1708)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hi.

Steven Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Stephen Jack patella.

Jill K DeWit:

And I'm Jill DeWit, broadcasting from the valley of the sun.

Steven Jack Butala:

Today, Jill and I talk about evolving with Land Academy.

Jill K DeWit:

Yep.

Steven Jack Butala:

There's so much new stuff that constantly happens in real-time here. Land Academy evolves at the same speed that the internet involves evolves.

Jill K DeWit:

Yes, evolves revolves.

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 K DeWit:

Would you like a drink of my water?

Steven Jack Butala:

No, I'm going to... While you read this question, I'll handle it.

Jill K DeWit:

Okay. Just checking. Here's [falls 00:00:50]. Heard a little tickle there. Troy wrote, "Has there been any discussion here on Russia and Ukraine? If a war happens, and the effects on land sales, could sales increase or decrease? I personally think sales will stay steady." You know, I never thought of tying them together.

Steven Jack Butala:

Well, Jill, you don't have to worry your pretty little head about such things. That's my job.

Jill K DeWit:

That's perfect. Okay. Troy, why? What are you talking about? What do you mean about, "What's going on with Russian Ukraine?" That's what I should have said. Is something wrong?

Steven Jack Butala:

Every once in a while, I have to go into discord. This Russian came from discord and I have to address some of these political things, because this is not the place for politics. And so that was my immediate reaction to this, but it found its way onto the show. So I think it's a very, very good point. And what the, really the question is, what happens to land purchases and sales or what happens to land market-

Jill K DeWit:

If we go to war.

Steven Jack Butala:

When there's a recession, when some stuff in happens. Is it like the stock market? And the answer is no.

Jill K DeWit:

That's a good question.

Steven Jack Butala:

No, it's not.

Jill K DeWit:

Yeah.

Steven Jack Butala:

What would ultimately end up happening, if we find ourselves in a recession, which I don't personally think is going to happen for economic reasons, anytime soon. For political reasons, like this, nobody knows, nobody knows what's going to happen next. I know that there are more, and more, and more, especially in this country, people that standing on the sidelines, waiting for stuff to happen and then buying everything cheaper.

Jill K DeWit:

Right.

Steven Jack Butala:

Specifically with the stock market. And I know that happens last. It happened with us last time with land. So you want to make sure that you're not overpaying for real estate, but that goes... That's any time. So, no. Do I think this is going to have any real negative effect? There's a possibility it might affect things short-term, but I doubt it. It's not like the stock market. When those things happen, you buy for lower and you sell for lower. And when it recovers, like we're in a total real estate bull market right now, you buy for a little bit higher and sell for a little bit higher.

Jill K DeWit:

Thank you for the visual. Oh, is that supposed to be me? That's supposed to be you, isn't it?

Steven Jack Butala:

Hold on.

Jill K DeWit:

Okay.

Steven Jack Butala:

I'm having computer malfunctions.

Jill K DeWit:

Has our script kind of goofed up? I can help.

Steven Jack Butala:

Today's topic: Evolving with Land Academy. This is the meat of the show.

Jill K DeWit:

Yeah. I looked at the script and it was rolling by so fast. I'm like, "Am I missing something? Am I supposed to be talking?" Oh my goodness. All right. Here's what's going on.

Jill Friday - A Little Kindness Goes Along Way (LA 1707)

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 DeWit, broadcasting from the Valley of the Sun.

Steven Jack Butala:

Today's Jill Friday. She's going to talk about how a little kindness goes a long way.

Jill K DeWit:

Yep.

Steven Jack Butala:

Boy. Isn't that the truth?

Steven Jack Butala:

Why is it so funny?

Jill K DeWit:

I'm just laughing. No, this is not directed at poor Jack here.

Steven Jack Butala:

Sure, it is.

Jill K DeWit:

I'm sure he might get something out of this. I don't know. Just saying. It's funny, this is not what the show is about. I mean, it is kind of, but we have different management styles. This is not about your employees. But it kind of could be. But Jack and I have different ways of coaching and motivating and mentoring our staff and this could apply there.

Steven Jack Butala:

I'm very kind, right at the beginning.

Jill K DeWit:

Oh sure.

Steven Jack Butala:

We all are.

Jill K DeWit:

You start off great. That's the best part. You start off great and then the person's going, "What just happened?" Myself included.

Steven Jack Butala:

Before we get into it, let's take a question. We're going to roast Steve today, 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:

Erin... Is this the same Erin or a different Erin? Oh, it's the same Erin?

Steven Jack Butala:

I don't know. I'm not sure if it's the same person.

Jill K DeWit:

All right. Erin wrote, "It is clear now from the many videos I've watched that the biggest thing is to..." All caps, I love this. "SEND OUT MAIL. It solves all problems. More deals, better selection to choose from, more money, et cetera, et cetera. Okay, I get it. But does anyone have a good metric on the number of mail pieces on average it takes to get one closed deal?" We have all this. Yes.

Steven Jack Butala:

Yes.

Jill K DeWit:

"Like 2,000 mailers on average will lead to one closed deal because I'm trying to work backwards. I like to have three good deals per month on my desk. How much mail will that take on average?" That's in the Equity Planner. Isn't it?

Steven Jack Butala:

Yeah. It's all in there. 2,000 is a really good number. 2,000 mailers is a... Per closed, make money, deal is great. If you want an insurance policy, let's do some math real quick, because this is a Jill show and I want her to get to it.

Jill K DeWit:

Okay.

Steven Jack Butala:

Let's just say it costs 50 cents a mailer to send out. So you send out 2,000, you spend a $1,000. If your target net equity per deal is $30,000, you spend a 1,000 bucks to make 30. Nobody's going to argue with that, no one. Let's say you want to buy the best deals ever. You want to remove all the risk from anything that you're doing here entirely. So you send out 6,000 and you pick the best one. Now you spent $3,000 to make $30,000. You see where I'm going with this?

Jill K DeWit:

Mm-hmm(affirmative).

Steven Jack Butala:

You want to make super share, because you've got pricing and you get it and you've got somebody to answer your phone, whether it's yourself or somebody like Jill or however you're manipulating. And all the answers to all this are in the Land Academy program. You send out 10,000 units, you spend $5,000 to make 30. It still works.

Jill K DeWit:

We got it. Do you want me to read what Lori wrote here today?

Steven Jack Butala:

Sure.

Jill K DeWit:

Lori, one of our moderators, this is very sweet, responded with this. "This is like asking how much for one entree. It depends on the quality of the restaurant. Is it a good zip code? How popular it is. Is it obvious that many people are mailing there? Your budget.

Jack Thursday - Just Do it then fail and succeed and fail again (LA 1706)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hi.

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's Jack Thursday, and my show today is called, Just do it, then fail, then succeed, and then fail again.

Jill K DeWit:

I'm just going to let you go.

Steven Jack Butala:

It's my take on the whole Nike slogan, "Just Do It." Well, it's a little bit more complicated than that in land investing. 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 show as you like.

Jill K DeWit:

[Aaron 00:00:40] wrote, "If you mailed an area at a price per acre of let's say, 30%." I'm guessing, 30% of-

Steven Jack Butala:

Retail.

Jill K DeWit:

Retail. Okay, got it. "And you get a certain response, then you like the county, and want to do more, and you would even mail the same people at 40, 45% of price per acre. But you remind yourself that sometimes Jill and Steven have said that sometimes they get responses from people two, three, six months later, sometimes longer." That's true. "Are you shooting yourself on the foot by remailing people who might have responded to you in a month or so later? In that case, would it be better to have a set time to wait before remailing maybe, three months?" I know what my answer is-

Steven Jack Butala:

Go ahead.

Jill K DeWit:

... I don't know about your answer.

Steven Jack Butala:

Go ahead.

Jill K DeWit:

Okay. My answer is, you find an area you're doing well, right? You did all the one to five acres, or five to 10 acres, or whatever your mailer was, and instead of hitting those people again, I would do all the 10 to 20, 20 to 40, 40 above. By the time you work through all those, you've given these people more time, and then you may have moved on, and your stuff's still out there. So we are not remailing like you think we're remailing.

Steven Jack Butala:

This is exactly what the show is about, just do it. Here's what... For everybody out there, who's a Land Academy member, and has questions like this, and I'm not picking on Aaron at all, I'm not, it's because this is a good question, and I can tell he is going to do well, very, very well, and it's well thought out. This is not the type of business model where you spend nine months asking 1000 questions, and eventually getting a reasonable, satisfactory number on every tiny, little thing that possibly could happen when you send a mailer out, "30%, 35%, is it 40%? Is it 20%? I don't know. Should I remail it? I don't know." I mean, on and on and on. Real... This is what you need to do. I'm going to cut to the... You know what? This is Jack Thursday. The show is called, just do it, then fail, and then succeed, and fail again. This is why you're listening.

Jill K DeWit:

When you're done, I have a follow-up to Aaron.

Steven Jack Butala:

Go ahead.

Jill K DeWit:

Okay. So my last follow-up to Aaron is, the point of the mailer is uncovering who wants to sell, because you might send them an offer at $30,000, but you end up buying at 35 or 40 anyway, because they come back and counter you, and you say, "You know what? It's worth it, I'll do it." So sometimes that works out. And that's my final, I will be quiet now.

Steven Jack Butala:

At the time of when this airs, I believe Land Academy 3.0 will at some point [inaudible 00:03:26] will be launched [crosstalk 00:03:28].

Jill K DeWit:

[crosstalk 00:03:28] I know, it's coming.

Steven Jack Butala:

Soon.

Jill K DeWit:

Yes.

Steven Jack Butala:

What I want you to do, is watch Land Academy 3.0 as many times as you need to. Jill and I spent a ton of time updating the program.

Learn More About House Academy Here

Has Your Real Estate Agent Been Around the Block (LA 1705)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill K DeWit:Hello.

Steven Jack Butala:Welcome to the Land Academy Show?

Jill K DeWit:House Academy show.

Steven Jack Butala:Oh, sorry. House Academy Show.

Jill K DeWit:That's okay. That's why you have me.

Steven Jack Butala:Entertaining real estate 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, has your real estate agent been around the block? Do they have experience? Do they have experience in land? Have they ever done a deal?

Jill K DeWit:It's houses. We're going to talk about everything.

Steven Jack Butala:Well, yeah, we're going to talk about everything. Have they done more than 10 deals in the last month?

Jill K DeWit:Mm-hmm (affirmative). Or a year? Seriously, even 10 deals a year analysis, I'll take that. We'll talk more.

Steven Jack Butala:Not me. Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free. Don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:Dan wrote, "Okay. I sent a mailer to a few counties in Maine a while back. I may not do that again because it's a literal checkerboard of what shows up in NeighborScoop and what doesn't, and there are tons of decommissioned roads that make it look like there's access, but not anymore. Anyways, I picked up a 13-acre wooded property on a county road with mobiles on adjacent parcels. It has a gas pipeline running across it and I figured I could sell it for around $20,000, no problem. Got it for seven. Fantastic, right? I called a local broker and she said with the current market and demand, she would have zero problems selling it for $52,000. We'll see how it goes, but that would definitely make it worth the headache, with headaches with the area."

Jill K DeWit:Isn't that great? I'm with you, Dan. Well, a couple things. Number one, wow, how I love it when that happens. You're like, "I don't even realize what I bought," and you're like, "Woohoo, home run," and two, you're like, "Now I'm eating my words. I don't care if I got this one deal out of that whole mailer that paid for it."

Steven Jack Butala:Yeah. Sure.

Jill K DeWit:All the struggle, all the aggravation, that's just fine.

Steven Jack Butala:$40,000 that.

Jill K DeWit:Yeah, I'm totally cool with that, and that's the right attitude. We've had that sometimes. We've had states or different things that were like, "Oh, I didn't realize." And now you know too, you need to add that to your list of your due diligence when you're picking an area, make sure it's in NeighborScoop. That's the little things you don't know until you're into it sometimes, like, "Oh, I can't find anything," or, "Shoot, good luck getting the county on the phone because they're only open two days a week from noon to 2:00," or something crazy like that. Or the county's not computerized. This is even really hard kind of thing. They don't even know where the properties are. That still goes on, by the way. So, good job.

Steven Jack Butala:Yeah. Well, this happens a lot. You know, people send out their first mailer, they get a little antsy, like, "Oh my gosh, is this going to work?" Honestly, I get a little antsy every single time to the day. I'm concerned if the mailer works, and it always does. All it takes is one deal to cover all the costs of the whole thing, so congratulations.

Jill K DeWit:You know what too, Dan? Some people would say, "Oh, it was a fail."

Steven Jack Butala:Yeah.

Jill K DeWit:This is the right attitude. I want everyone to hear, too. This is not a failed mailer. Some people would say, "I only got one deal and I made $40,000. It failed." Please listen to yourself.

Steven Jack Butala:Well, I'd go back. I'd send it out again.

Buyer Management in this Hot Market (LA 1704)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

Steven Jack Butala:

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

Jill K DeWit:

I'm Jill DeWitt broadcasting from the valley of the sun.

Steven Jack Butala:

Today, Jill and I talk about buyer management and this super hot market we're all experiencing.

Jill K DeWit:

Isn't it great.

Steven Jack Butala:

Yeah. Greatest real estate market I've ever seen my entire life.

Jill K DeWit:

Who was I talking to? I can't remember who I was talking to the other day, but I was just like we all need to take a step back and just think about what's going on right now and how great this is. I was going to say this at the end, but lately the longer I have a property in inventory, the more the price goes up and I'm watching this too.

Jill K DeWit:

There's a property behind us. It's a spec home, and every six months they raise it $500,000. Instead of lowering it, they're raising it.

Jill K DeWit:

We've done that. We've had some properties that we priced a while back and then an offer comes in. And we countered it. Not only our full asking price but we went, "You know what, we actually priced it too low." So we countered with something else. And they're like, "What?" And they walk, and that's fine. They're like, "You know what, we're going to reset this with the agent." [inaudible 00:01:19] like, "All right." We're like, "This [inaudible 00:01:21] right now that we doubled." That's the price it commands. We'll talk about it more, don't be too fast here.

Steven Jack Butala:

When I was in public accounting in the late '90s at KPMG, I was working under a partner and our specialization was healthcare. But there were other partners that were in the same office building and their specialization was Y2K readiness. We all thought that computers are going to go haywire and all of that. Those guys retired and the amount of consulting that they delivered between 1997 and 2000 to get huge systems ready. We're in a situation now where if you wanted to, you can.

Jill K DeWit:

You go nuts in retire.

Steven Jack Butala:

A return of $20 million a year for the next few years can just be done. Or whatever your magic numbers.

Jill K DeWit:

Yeah you don't need that much.

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

Jill K DeWit:

Where would you retire with those numbers by the way? If you want to retire in Paris, then you need that money. If you want to retire in Mexico like we are talking about, you don't need nearly that much money.

Steven Jack Butala:

[inaudible 00:02:41] retire in Mexico at our age, honestly if you wanted to on a million bucks.

Jill K DeWit:

Exactly. And have a great life.

Steven Jack Butala:

Sure.

Jill K DeWit:

Yep. Austin wrote, "Just listed a property on the MLS on Friday with my broker, buying for $13,500 and selling for $38,000. I have two parcels in title right now, will probably be three next week. Land wheel turns."

Steven Jack Butala:

Austin is... he was reporting that in the subsection on Discord of Success. Success stories and he's also in our career path right now.

Jill K DeWit:

He's working him through the system.

Steven Jack Butala:

Yep.

Jill K DeWit:

And the great thing is with that a broker, the broker's doing the work and Austin can focus on getting more of them. That's perfect.

Steven Jack Butala:

Today's topic, " How do you manage your buyer in this market of total hotness." This is why you're listening.

Jill K DeWit:

I'm going to say once... I don't know if it's once a week, but a few times a month, I get a call because whether it's a deal funding or whether it's a deal that we have. But the message gets to me like this, "Hi Jill,

Undoing preconceived Real Estate Habits and Notions (LA 1703)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hi.

Steven Jack Butala:

Welcome to the Land Academy Show, entertaining real estate 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 undoing preconceived real estate habits and notions.

Jill K DeWit:

This makes me think of this clubhouse talk, this room I was in earlier today. It was a real estate group, and it was multifamily apartments and things like that they were talking about. The conversation part of the way through, like halfway through shifted to not talking about that at all, the nuts and bolts, but talking about the mindset of a person coming into this environment. It was so interesting to me because that part doesn't change, and the whole point of what this person was saying was, why do you not trust someone who has experience? Usually a mentor doesn't say, "Hey, you want me to mentor you?" Usually, you go to them and say, "Will you please mentor me?"

Jill K DeWit:

And you're doing that because you recognize that they have experience, and they've made a lot of mistakes, and by not trusting them, and... hold on a moment, this all relates, trusting their experience and their way of doing things and getting out of your own head is nuts because that mentor is going to probably shave years off your learning curve. That's what this whole topic is for me today, and I really want to dive into this that, why people have a hard time dropping their habits and things. When someone's right there saying, "I've got 16,000 reasons why I do it this way."

Steven Jack Butala:

This, what you're saying specifically, in this topic, absolutely baffles me.

Jill K DeWit:

Right.

Steven Jack Butala:

And Jill and I talk about this often. Not often, once a week, usually when we're prepping for a show like this, or when something strange happens in the Land Academy Group, or there's a slew of questions in Discord, or when we have the opportunity in a real positive way, to get immediate and direct feedback, audio and video feedback, on career path. And we're on, what? We're in the middle of career path right now. So, we're on module 5 of 10. It's just shocking to me that how, I don't know if it's generational, I don't know what it is, but it just shocks me that people's minds, we're saying the same thing, just aren't open to listening to somebody that's got decades of experience. I've been fighting it.

Jill K DeWit:

We're going to talk about it.

Steven Jack Butala:

Oh yeah, this is the start of the show. Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free, and please don't forget to subscribe on the Land Academy YouTube channel, and comment on the shows you like.

Jill K DeWit:

Sarah wrote...

Steven Jack Butala:

By the way, if you don't like this, which I completely understand, don't subscribe. We take pride.

Jill K DeWit:

All right. Please subscribe or not subscribe, however you see fit. And if you need to hit the off button, we understand.

Steven Jack Butala:

Our subscribers, we take pride in the fact that our subscribers are into it, and we actually, when we communicate with our subscribers, not just on YouTube, everywhere, they respond really well.

Jill K DeWit:

There we go. Sarah wrote, "I have someone who wants to sell a property with some liens on it, but she doesn't know how much they are." I can relate to that. Who does know exactly?

Steven Jack Butala:

This is a perfect question for you.

Jill K DeWit:

Could you imagine? I know exactly what I owe. Really? Okay. "With the resources that we have here, is there a way to check for liens? I've only closed for attorneys, so I don't know how to do my own title search."

Steven Jack Butala:

You just answered your question. No, yeah, is there a super easy,

Jill Friday - How to Get Over the First Deal Jitters (LA 1702)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hi.

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 is Jill Friday, and she's going to talk about how to get over the first deal jitters.

Jill K DeWit:

This is a thing. I understand. I always tell you, if you want to wake up tomorrow and be an investor, you can. Just wake up, you're an investor today.

Steven Jack Butala:

I love that.

Jill K DeWit:

Yep. This is what I'm going to do. Making some changes. This is it. And then it's like, "Oh crap. I told everybody."

Steven Jack Butala:

Now you have to do it. Now I have to be one. Now I have to be one.

Jill K DeWit:

Oh my gosh. I sent out all these letters. Now they're going to come back. Holy moly. I'm pretending to be an investor. I'm going to fail. No, no. You got it.

Steven Jack Butala:

You're going to be fine.

Jill K DeWit:

You will be fine.

Steven Jack Butala:

Because you have a massive group here that was where you're sitting right some time ago.

Jill K DeWit:

Right. And I'm going to tell you, I got three things that I'm going to tell you right now that are really going to help you and calm this all down.

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. I bet that I'm not one of those things that's going to be calming.

Jill K DeWit:

No, that's why this is Jill Friday. Yeah. Yeah. Get a partner like this.

Steven Jack Butala:

Putupwithapartner.com.

Jill K DeWit:

Oh boy. Ian wrote, "I sent out a 2,400 unit mailer last Monday, and I have another 1400 letters going out today. This is awesome. I thought they were really good zip codes with good numbers, and I just wanted to things moving. Yesterday, I listened to a podcast where Jill talks about talking to sellers. And one of the examples I used was a member of Career Path who had good deals coming back, but he just wasn't picking up the phone enough to get the deals. So now, since I work a lot, I'm worried that I'm going to be negatively impacted by the calls from these mailers going straight to voicemail."

Jill K DeWit:

Yeah. "Jill has mentioned in the past how you want to wait until you have some experience to go with something like PATLive, but I'm wondering if I should set up PATLive? I have enough money saved up, and I think I'm really more worried about missing phone calls, and thus, mail being wasted than I am paying for pat live. Any insight?" Yeah. I'd rather have the phones being answered.

Steven Jack Butala:

Me too.

Jill K DeWit:

You're right. I really want a live body on the other end.

Steven Jack Butala:

And I love that you're this concerned about it.

Jill K DeWit:

And you planned for it and you could afford it.

Steven Jack Butala:

Me too.

Jill K DeWit:

So you're right. Because the voicemail, it's not effective. It's not as good as that. And I'm not... And I want you to call everybody back, by the way. Any missed calls, call them back, every one. But yeah, I think you're right. Good. You're exactly right.

Steven Jack Butala:

Today is Jill Friday. She's going to talk about how to get over your first deal jitters. This is the meat of the show.

Jill K DeWit:

Okay. Yeah. This kind of came up a little bit from Career Path, because we have some newer people in there, and a little bit from the session that we did, that first session that we did. Those of you listening know who you are. That was really fun. We budgeted an hour to answer some newbie questions with a really small group. There were 20-something people in that room. And it went a little over two hours because we wanted to get through all your que...

Jack Thursday - Concept of Deal Flow (LA 1701)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Howdy.

Steven Jack Butala:

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

Jill K DeWit:

And I'm Jill DeWit, broadcasting for The Valley of the Sun.

Steven Jack Butala:

Today's Jack Thursday and I'm going to talk about the concept of deal flow. Grossly, taken advantage of, not taken advantage of, taken for granted in this group and in our Land Academy group, because Jill and I are doing our jobs and we're teaching everybody. Instructing everyone to create an amazing amount of deal flow that's controllable and manageable. I'll talk about it in a minute.

Jill K DeWit:

Is there a problem?

Steven Jack Butala:

No, it's a great thing ever.

Jill K DeWit:

Are we in trouble?

Steven Jack Butala:

No.

Jill K DeWit:

Okay.

Steven Jack Butala:

It's just the greatest thing ever and I'll talk about it. 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, comment on the shows you like.

Jill K DeWit:

Edgar wrote, "I got the chance to meet Lori Phillips over the weekend in person, while she was on a trip down to Florida. We met at a nearby diner for coffee," this is funny, "and maybe a big breakfast for me. It was surreal because she is just as one would expect and really genuine person who wants the best for you. We talked for hours about a variety of topics. Although I'm sure she had millions of other things to do, she made me feel like I was her top priority that day."

Steven Jack Butala:

That's what you get out of being a Land Academy member, is access to people like Lori.

Jill K DeWit:

Mm-hmm (affirmative). That's it, that's all there is?

Steven Jack Butala:

Yep.

Jill K DeWit:

Okay.

Steven Jack Butala:

Today's Jack Thursday and I'm going to-

Jill K DeWit:

Thanks for sharing Edgar.

Steven Jack Butala:

... talk about concept of deal flow.

Jill K DeWit:

Yeah and thanks for doing that, Lori, by the way. That was so cool.

Steven Jack Butala:

This is why you're listening, I want you to clear your mind for a minute and think from a philosophical or academic standpoint about why people are successful at anything. In my opinion... my goodness.

Jill K DeWit:

Let me cover for you.

Steven Jack Butala:

No, my goodness. People are successful in my opinion, because they have choices and when you are in a business where you have control over which deals you do and which deals you don't do at the level where we do, because we have so much self-generated deal flow, that's truly amazing. In all the companies and businesses that I've ever been involved in and responsible for bringing in new business, like in accounting bringing in new clients. You're sitting in front of 22 choices of new clients and you get to pick the best two or three, the ones that you think you're going to be able to make the most money with and get along with the most, they've all succeeded. When you don't have deal flow opportunities, it's very hard. When I started out in real estate, I wish somebody would've sat me down and said, deal flow is the whole key.

Steven Jack Butala:

If you're a real estate agent and you have 14 opportunities to list 14 opportunities to list properties that day, you're going to smash it out of the park in your career and it's your responsibility to generate those opportunities, not anyone's else's. Well, we make that easy through these mailers. If you send out 25,000 mailers and you do it correctly, like we teach, you're going to buy up to 50 properties at least 10. If you're making $10 or $20,000 per property, now you're making a quarter of a million on a mailer, all because of deal flow. This gets overlooked in this group. Jill and I get hundreds of questions all the time in different formats, the Thursday call hourly on discord,