How to Handle Calls from Old Mailers (LA 1263)
Steven Butala:
Steven and Jill here.
Jill DeWit:
Happy Friday.
Steven 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 Butala:
Today, Jill and I talk about how to handle calls from old mailers.
Jill DeWit:
And old people.
Steven Butala:
Right now, in this market, and it always happens in downturn, everybody's, you send all these old offers out, and a pretty material percentage of people stick them in a file somewhere and they just keep them for a rainy day. They don't respond, they don't do anything, they just keep them there. Stuff happens. Maybe they pass away, maybe they're-
Jill DeWit:
Maybe a virus hits and they lost their job.
Steven Butala:
Yeah, maybe a virus hits. And they say, you know what, there's a property-
Jill DeWit:
Maybe they're sick of where they are.
Steven Butala:
I think I got offered 14 grand from those people a couple years ago, I don't know what I did with it. I'm going to go dig for that. They keep it in the same files they keep their tax bills. We're never going to use this property, we bought it 10 years ago, Dad bought it 25 years ago, let's just turn it into cash.
Jill DeWit:
Yep.
Steven Butala:
That's what this is all about. Jill's an expert at converting these old mailers into money.
Jill DeWit:
I'm getting these calls every day.
Steven Butala:
Yep.
Jill DeWit:
It's awesome.
Steven Butala:
Before we get into it, though, let's take a question posted by one of our members on the LandInvestors.com online community, it's free.
Jill DeWit:
Joey wrote, "Hello all pro members. We have a seller that needs to sell several thousand properties. We have years and years of experience in single family, but don't have the transactional experience or capital for this, and are looking to partner with someone who does a lot of volume and has extensive experience and a team in place to make it happen. The properties are in different entities in different counties in X state. Hit me up if you've got what it takes, and love to work together to make this a win-win for us. Joey."
Steven Butala:
There's no question here, and I already responded to this person.
Jill DeWit:
Cool.
Steven Butala:
Because this is right up our alley.
Jill DeWit:
Call Jill, she's got time.
Steven Butala:
[crosstalk 00:02:00] I'll review the deal first before it gets to you.
Jill DeWit:
Okay, cool.
Steven Butala:
Because it's going to be a lot of work.
Jill DeWit:
Okay.
Steven Butala:
This can take days, to analyze these deals, and again-
Jill DeWit:
But it's profitable.
Steven Butala:
I'm hardwired to set up for this stuff. So there's no question here, my point is this: this is what happens. In the land business, you can hit home runs like this. This is a home run. I can guarantee it right now, we will make an offer on this, and it will be a win-win for everybody involved, specifically Joey here and us.
Jill DeWit:
Yep.
Steven Butala:
This seller's just, he's exactly the situation we just described. This virus hit, they need some dough.
Jill DeWit:
Exactly.
Steven Butala:
And where these properties are located is a very new and interesting place for us, it's not the same old, same old out on the West Coast.
Jill DeWit:
I'm familiar with that part of the country right now.
Steven Butala:
I know you are.
Jill DeWit:
So that's good.
Steven Butala:
So this is what's possible, that's my point. It's very, very likely that at some point, I've done probably eight or 10 deals in my career like this, all of them we netted well over one or two million bucks on each deal.
Jill DeWit:
And it can tie up for a long time, which is ... nothing with that.
Steven Butala:
Yep.
Jill DeWit:
Cool.
Steven Butala:
Today's topic, how to handle calls from old mailers, this is the meat of the show.
Jill DeWit: