How to Generate $100K per Deal (CFFL 517)
Transcript:
Jack: Jack Butala, Jill DeWitt.
Jill: Hi there.
Jack: Welcome to our show. In this episode, Jill and I talk about how to generate a hundred grand per deal. I feel very qualified to discuss this. Before I get into it, let's take a question posted by one of our members on landinvestors.com online community is free.
Jill: Okay. Vlad and Nadia ask, "So, my husband and I are new members to Land Academy. I really enjoy the material in the course so far. But now that I'm actually getting starting to research which county to target, I'm getting a bit discouraged. Maybe because I hate taking risks. Or at least I'm willing to take a risk if I see some logic in my decision. I've been spending a lot of time reading the forums. I feel states like Arizona, New Mexico, California, et cetera are targeted a lot. Should I even bother with these popular states? I'm getting the feeling that there's much more competition now than even just two years ago. Maybe if it wasn't as expensive to send a mailer out, I wouldn't stress out as much and just give it a shot. I'm looking for a word of encouragement or any advice you're willing to share."
Jack: You go first Jill.
Jill: I didn't think it was expensive. No. So, you know what, so here's where I'm coming at this from. These are all valid, good points. I first question commitment. And I see, how do I say this -
Jack: Waffling?
Jill: - Yeah. And getting in her own way.
Jack: Yep.
Jill: So, I'm trying to think of another example of what something that in a whole different business. You know what. Every business has risks. Every business you want competition. Competition is healthy. And in the real estate world, there's a lot of competition out there. Let's be honest. That's okay. That's why you need to do it right and be efficient and be the best and have the best property at the best price. And there's nothing to think about. And that's where we are. And that's what we share.
Jack: We have a handful of members, actually now way more than a handful, and I ask them because I talk to them regularly. They do a ton of deals. And almost all of them started with nothing. They have a little bit experience flipping houses or some other business, and it didn't work out. So, the light bulb went off. They heard this show. Or they talked to Jill or whatever. And light bulb went off over their head, and they're making six figures every month. And it's because they just get it. It sung to them. And this is clearly not singing to you. I'm trying to be nice about it actually.
Jill: That's what I -
Jack: It either works or it doesn't. I feel compelled to quote Dr. Phil. You know, you either get it or you don't. And if you don't, that's okay. Move on. I mean there's a lot of fish in the sea.
Jill: Yeah.
Jack: I'm not a big Dr. Phil fan by the way. But that is pretty damn good advice. Captain Obvious type advice.
Jill: Exactly. Well you know, it's kind of funny. Makes me think of when I run into, we go, Nell and them will be in investor group settings. And the majority investors don't understand the whole direct mail thing. And they can't wrap their heads around it. And I tell them in there. And I'm like, "Yep." And usually my parting comments are, "Yeah, but who am I to say 15, 16,000 deals later, maybe I don't know. It's just a test." And they go, "Wait a minute." I know they think about it later. But -
Jack: Where's the risk in sending out ... spending $500 to send out a thousand offers on houses or boats or whatever you choose.