Undoing Old Real Estate Habits (LA 1374)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Hello.

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 sunny southern California.

Steven Jack Butala:

Today, Jill and I talk about undoing old real estate habits. Yesterday, Jill and I were lucky enough to be the guests on somebody else's show, where they primarily flip houses, and not to our surprise, but maybe to you as a listener your surprise, we were explaining to seasoned real estate professionals why sending out mail is the best way to create deal flow for yourself, and to create the best opportunity to find the cheapest property on the buy side, whether you're going to renovate it or not. There were a lot of jaws just on the desk, on the other side of the camera where people were just saying... These are people that are older than me.

Jill DeWit:

It was cool. It was flipping America. I don't know if you guys know I'm Roger Blankenship, I think it is. We had a really great conversation.

Steven Jack Butala:

Yeah.

Jill DeWit:

Before and after, and then I got a really nice followup email from him.

Steven Jack Butala:

Oh, you did?

Jill DeWit:

Yeah. It's going to tie into this. Got a nice email, after the show going, "Wow, oh my goodness." Literally saying, "I just learned some stuff." I'd love to talk about it more when we get into the show, because this is what happens.

Steven Jack Butala:

Good.

Jill DeWit:

We're undoing old real estate habits, and there's just another professional that said, "Oh my gosh, there's a little bit better way I could be doing this part of my business."

Steven Jack Butala:

Yeah. It made me personally question who our customer is, Land Academy, but we'll talk about that in a second, too.

Jill DeWit:

Okay.

Steven Jack Butala:

I thought I knew, but like everything, I didn't really know. 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.

Jill DeWit:

Matthew wrote, "My name is Matt. I'm 24 years old, and I'm just finishing graduate school. I have some money saved up and I'm looking to start my land business before jumping into a full-time career. I have always dreamed of being an entrepreneur, and I'm particularly interested in real estate. Combine the two, and now I have a land business. Cheers, and good luck to all." That's super cool.

Steven Jack Butala:

On land investors, when people join our group, we ask them to just-

Jill DeWit:

Introduce.

Steven Jack Butala:

Yeah, and that's what this is.

Jill DeWit:

Say hi, introduce yourself.

Steven Jack Butala:

What this question or this comment caused me to think about, personally, and if you don't know already, Jill runs all the real estate part of all of these companies, and I handle the education part of it, and the lines of business, like NeighborScoop and O2O, and things like that. Jill gets to do all the fun stuff.

Jill DeWit:

Oh, right.

Steven Jack Butala:

I get to do the administrative stuff.

Jill DeWit:

Thanks. Last time I checked, you picked. You picked what you want to work on.

Steven Jack Butala:

This is causing me, lately, especially with the show we did yesterday... We're talking seasoned real estate professionals. It's caused me to question who our customer is, and I've decided I'd love to hear your opinion on this, Jill, because it ties right into Matt's thing here. Who's our customer? Who's the Land Academy customer? And I think there's two.

Jill DeWit:

Oh, I think there's many.

Steven Jack Butala:

Oh, really?

Jill DeWit:

Oh gosh, yes.

Steven Jack Butala:

You can't profile it?

Jill DeWit:

Nope. Just like our buyers, I stopped trying to assume I know what people want. The first time I assumed that no one's going to want this property way out here, you got to take a four wheel drive to it, I sold it so fast.