Power of Data in Real Estate Investment (LI 701)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Investors Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: I am Jill DeWit, broadcasting from sunny southern California.
Steven Butala: Today Jill and I talk about the power of data in real estate investment. Surprise, surprise. We're gonna talk about data. How can you guys, this is a question we get.
Jill DeWit: We talk about data all the time.
Steven Butala: How can you guys possibly have 700 shows about land?
Jill DeWit: Right?
Steven Butala: It's gotta be the most depressing, awful, monotone, Ferris Bueller type discussion there ever was.
Jill DeWit: No way.
Steven Butala: How do you keep it fresh?
Jill DeWit: I love data.
Steven Butala: Any of you have been in a relationship for longer than 10 years, you know the tricks. Gotta keep it fresh.
Jill DeWit: There's tricks?
Steven Butala: You either just accept the fact that you're gonna be ... Jill and I just have a really close friend and he just disclosed a, and he does not listen to the show. He said, "I just accepted the fact that I'm gonna be unhappy."
Jill DeWit: Yeah, that was really sad.
Steven Butala: Both of us just gasped, just like Jill did.
Jill DeWit: Really sad. I'm like, wait. He's making some changes in his life right now, and remarried, and I would think it'd be the most exciting, happiest time in your life.
Steven Butala: Right.
Jill DeWit: I was asking about that, and it was the exact opposite. I hope you don't feel that way.
Steven Butala: I don't. I have the exact, exact opposite sentiment about data and real estate and whether it just keeps getting better, and better, and better. We live in a perfect time.
Jill DeWit: Isn't it?
Steven Butala: To buy real estate using data, because data gets better and better.
Jill DeWit: Hold on. Part of me is ticked off that there's so many people in the real estate community that are not using data and don't understand data, number one. I'm like, you guys are ding dongs. Why is this so hard? Then number two is, you know what? That's great.
Steven Butala: Good.
Jill DeWit: I'm happy that they're spending 20 hours a week going door to door-
Steven Butala: Or placing bandit signs.
Jill DeWit: Handing out business cards and showing up at little meetings. I'm like, you know what? Actually, that's great, because then I'm gonna get there faster. So-
Steven Butala: Today's, this week is data week. It's all about data. All five shows. This is obviously the first one, but in a minute here, we're gonna tell a story about we just bought a house and sold it for $25,000 more. Didn't even sweep the floor.
Jill DeWit: Exactly.
Steven Butala: Three days later, the person who's cleaning it up put a dumpster out in front, and we got a call from somebody down the street, three doors down, who got a letter because we sent out the same mailer and said, "Wait a minute, did you guys buy that house?" This is all, I'm gonna let Jill tell the story in a few minutes here.
Jill DeWit: Okay.
Steven Butala: Before we get into it,