Recruiting is Your New Full Time Job (LA 753)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hello.
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 today from gorgeous sunny south Lake Taco, Tahoe.
Steven Butala: Today, Jill and I talk about recruiting is your new full-time job.
Jill DeWit: Oh, I love it too.
Steven Butala: What does that mean?
Jill DeWit: Isn't that great.
Steven Butala: What it means is this: Congratulations, you've done enough deals, and this is now your career, buying and selling real estate, and you need some help.
Jill DeWit: Yeah.
Steven Butala: I mean, man, is getting the right help imperative to making this a full-time gig.
Jill DeWit: It's true.
Steven Butala: We are literally at 11 to 1. For every 11 people we hire, 1 person sticks. It's tough. So we're gonna talk a little bit in the show about what we've learned. We're gonna share the positive stuff, and some of the negative stuff, and hopefully you can learn from it.
Jill DeWit: Mm-hmm.
Steven Butala: Before we do that let's take a question posted by one of our members on the landacademy.com online community. It's free.
Jill DeWit: Okay. Sarah asks, "Hi all, when selling a property I typically send the deed straight to the county recorder for my buyers, but occasionally they request I send it straight to them, or I've met a few people who purchase lots locally and gave them the deed. There were around eight people who just never got the deed recorded, and I continue to get their tax bill. Some are about to lose the property. I've contacted all of them letting them know a few times, but I don't want to spend much time on it. A few just lost the paperwork, so I would resend it, but I was wondering how often do any of you all buy back the lots from people? One of the guys who bought locally called this week and said he's low on cash and would sell it back to me for half what he paid for the property. Well then got-"
Steven Butala: We met.
Jill DeWit: "We met, sorry. Got the notarized deeds back and I paid the taxes on it, and will resale. Can't complain about that. Does this happen to many of you, and do you find it usually a cash thing, and people are willing to sell it back to you? Thanks."
Steven Butala: I love when people ask questions and then they answer it for themselves.
Jill DeWit: This is true.
Steven Butala: This is exactly what we do. You can bank on 5 to 15% of the properties that you deed to other people, they just never record the deed. What you don't want to do is sell it again for, and I'm not going to go into why. There's a thousand reasons why you shouldn't do that. But, if you wanna send them a check.
Jill DeWit: Can I back up on this here?
Steven Butala: We just pay them for the back taxes is what we do sometimes, go ahead Jill.
Jill DeWit: That was confusing to me, so I wanna reiterate. So what we're saying is, these examples are people that didn't record the deed. So they said, "No just send it to me, and I'll get it to the county," or maybe that's your policy. Your policy is, you send them out the completed deed with the recording instructions for them to then turn around and mail it to the county, get it all recorded. And now, the transaction's over with. So there's two parts to talk about here. So,