Real Cost of Bad Real Estate Data
Jack Butala: Real Cost of Bad Real Estate Data. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala here for Land Academy. Welcome to our "Cash Flow from Land" show. In this episode, Jill and I talk about the cost, the real cost, of getting data from an old or a bad source. Jill, I think this topic was designed for me. That's how much I love this topic.
Jill DeWit: I do too, though. I get calls on this all the time.
Jack Butala: There's so much ...
Jill DeWit: I have a lot to say about it, too.
Jack Butala: Oh, good.
Jill DeWit: Yeah.
Jack Butala: There's so much bad data, and only a few places to really get good data. Before we really get into it- and I can't wait to get into it- let's answer a question from a member.
Jill DeWit: Okay. This individual called in. Her name's really Bernadette?
Jack Butala: Yeah, that's what she said.
Jill DeWit: Okay. I haven't seen that name in a while. That's a pretty name. It's a long name. Bernadette from Maine says, "I concentrate on buying property at online tax sales. Why would I send out a mailer, too?" Ooh, I like this question.
Jack Butala: Yeah, and I love this question, too. That's why I chose it. Jill and I have, in a million different ways, said that ... It comes up with Driving for Dollars and everything. What Bernadette's doing, and my hat's off to her, because it's great, I think ... She's going out and seeking an opportunity out. She's either logging on to, let's say, BidForAssets.com, or there's a lot of little web sites ... Florida has its own web site where they auction property off, I think every single week or every other week.
That's great, but what she's doing is actively going out and finding property. You could use this for Driving for Dollars, which we all think is awful. You could do this to search through the MLS, multiple listing service. What you do when you effectively do a mailer is that you reach a million people, or as many people as you possibly can, very intelligently, by choosing the people that you think are sending you the message that they want to sell their property or at a reduced price, and then you're having them contact you.
Every morning, you wake up, you open the mailbox and you look at the phone, and there's 15 messages in there and a ton of mail in there about all the purchase agreements that you sent out, and they're bringing it back to you. You've sent it out, but it's all coming back. It's so much more efficient from a time standpoint and from a financial standpoint. You're not actively waking up and seeking out properties to look at and review.
Jill DeWit: It's just so much more time efficient, I think. You've talked about ... You want to wait, you want to spend all Sunday finding a good property and doing all your research, and then next Sunday you got to do it again, and next Sunday do it again. How about we send out one mailer, let everybody call us back.
Jack Butala: Right.
Jill DeWit: I already know the area, already done my research, I know all of that in this area.
Jack Butala: Right, Jill. It's all coming back.
Jill DeWit: Totally.
Jack Butala: Plus, you send ... We get calls regularly from 2005, 2006 mailers that we sent out, and everything in between. People get these offers. We're not sending postcards out, by the way.