Jill Friday - Land Love Language (LA 1692)
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, well, it's Jill Friday. Jill's going to talk about land love language.
Jill K DeWit:
This came up a couple weeks ago. I realized, "What's your land love language?" Because we look at things differently and I say we meaning him and I, so I'm sure that's probably going on in your world. First, let's take a question posted by one of our members on the Land Investors online community. It's free, and don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. You want to read it?
Steven Jack Butala:
No.
Jill K DeWit:
Okay. Kyle wrote-
Steven Jack Butala:
I don't know where you're going with this.
Jill K DeWit:
You could just sit back this show.
Steven Jack Butala:
Jill's on a mission today.
Jill K DeWit:
I am. Kyle wrote, "So I've been doing a lot of red, yellow, green testing in the past 48 hours."
Steven Jack Butala:
Good.
Jill K DeWit:
"Hundreds of rows. Is it weird that 80 to 90% of all of them are passing as green for infill lots? I'm just worried that I'm doing something wrong."
Steven Jack Butala:
No, in fact the opposite. I think you're doing something very, very right.
Jill K DeWit:
Like you picked the right areas out of the gate?
Steven Jack Butala:
I think you did everything. You followed the program. I think-
Jill K DeWit:
If you are in doubt.
Steven Jack Butala:
... probably, you trolled for the correct areas. I think you tested and retested and tested the zip codes that you found against each other and then you priced it correctly, because 80 to 90% of what's coming out is a go. And so that's what these fail-safe stopgap measures that I put in place for all this stuff, they're working for you. So step-by-step you're doing this, at any point when you go back and test it, if you're coming up with 20 or 30% are green, then you go back and go back and choose different areas, or choose different pricing, or trace your steps back so that you don't send out a bad mailer. That's what these steps are all for.
Jill K DeWit:
So he's got hundreds of zip codes that are working for him. So there's going to be a way, Kyle, that you could... You picked the hottest. Even though they're green, they're hitting your green criteria, whatever that is, like days on market less than 30 and this percentage and that percentage. You know what I'm talking about. So I would pick the hottest ones first, obviously. And then my question to you, Steven, is how long is this data going to be fresh? Can I use the same? So he's got hundreds of rows. He's not going to send out 900,000 units of mail this month. So he's going to stretch it out. How many months is this data good for?
Steven Jack Butala:
Six.
Jill K DeWit:
Six months. Okay, good. So you can use this and divide it up, pick your hottest ones and hopefully have six months worth of mailers ready to go, which, in my world, I think that's awesome. I think that'd be great.
Steven Jack Butala:
I'll tell you, I mean, when this happens to me, and it doesn't happen that often where it's 80 to 90%, that's really pretty strong, I would just send it all out.
Jill K DeWit:
But again, unless it's you don't have the staff to handle that much mail. You don't want to-
Steven Jack Butala:
I would-
Jill K DeWit:
You want to be able to handle the calls.
Steven Jack Butala:
... comfortably send out 25,000 units at a time.
Jill K DeWit:
Yeah.
Steven Jack Butala:
Do you think that's too many?
Jill K DeWit:
Yeah. It depends on who's taking the calls now. I do.
Steven Jack Butala:
Well, I don't take the calls. I just send the mail out.
Jill K DeWit:
I know. But, see, you have us. This is my point.
