Millionaire - What You Own (CFFL 569)

Transcript:

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to the show. In this episode Jill and I talk about millionaire. It's our final episode in a five-part series. This one's specific about what do you own. Do you own a ton of real estate? Do you get a better brand of underwear?

Jill DeWit:                            Do you have an airplane?

Jack Butala:                         Yeah, we talk about it. Before we do, though, let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            Okay. Marcy asked, "I have sent out mailers in the past and am now looking to send out more. But the issue is I have more data and I'm hand writing my letters." Uh oh. "But I'm not getting responses back."

Jack Butala:                         There you go. She answered her own question.

Jill DeWit:                            Let me see. I'm hand writing my letters and I'm not getting responses back. Okay. "I have received return mail stating, 'Stop sending this scam mail.'" That's funny. "I love the idea of a hand-written letter because I feel it's more personal. But how can I get more response with my letters? What information do you suggest that the letter or postcard contain?" Both of us are like, "Pick me! Pick me!" Go.

Jack Butala:                         There's a guy in our group who started exactly where you are, Marcy, and did this exact same thing. This is about two years ago. I talked to him recently, and here's how the conversation went. I said, "Man, I cannot believe how far you've come in such a quick amount of time. I really would like to share this with the whole world. What's different about you? How did you do this so quickly?" This is what he said, "I put myself aside and what I think was right and I followed the system that you guys put together to the letter. Right down to the letter. I used the same format you guys did, I used the companies that you did, all the support companies, and I put all this pre-notion stuff and I did exactly what you said. That's what I did."

Jill DeWit:                            Even when it felt wrong.

Jack Butala:                         Right.

Jill DeWit:                            Didn't make sense, but I did it. I know exactly who you're talking about. I remember that show.

Jack Butala:                         If you want to get creative, and I am all for getting creative, I want you to get creative with two things. Where you're sending the letters out, very, very creative with that. The more creativity, the better. Which subdivisions, which counties, and how you're pricing it. But I do not want you to veer very far from how many letters you need to send out, whether or not there needs to be a purchase agreement involved, whether or not you're hand writing letters, whether or not you put a cute little watermark right down the center of your letter because you think you're going to get a better response, Cathleen.

Jill DeWit:                            That's for Cathleen. This is Marcy's question.

Jack Butala:                         I've heard from other people that hand writing envelopes is the only way to go. You know what ... Go ahead, Jill.

Jill DeWit:                            Can I weigh in on this?

Jack Butala:                         Go ahead.

Jill DeWit:                            Here's my thoughts.

Jack Butala:                         You're never going to be able to scale this thing up if you're writing stuff.

Jill DeWit:                            That was what I was going to say. Marcy, do you want to buy one property a month, or do you want to buy one property a day? If this is a hobby for you and you're not in this for anything more than, "Yeah, you know, it's just something I do on the side.