Self-Discipline 101 (LA 1455)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Howdy.
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 sweet Scottsdale, Arizona.
Steven Butala:
Oh, that's better.
Jill DeWit:
I don't know. It just came off, just came out.
Steven Butala:
Today, Jill and I talk about self discipline 101. It is not something you're born with. People think that.
Jill DeWit:
Oh, I have a ton of it. I'm happy to share. Just kidding. Could you imagine?
Steven Butala:
Yeah, we'll use ourselves [crosstalk 00:00:27]. Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community.
Jill DeWit:
Sure.
Steven Butala:
It's free.
Jill DeWit:
You know.
Steven Butala:
If you're a Land Academy member, please join us on Discord.
Jill DeWit:
Oh, I'm commonly going, "No, just put down the cookie. I got this."
Steven Butala:
This is exactly what happened a half hour ago.
Jill DeWit:
Right.
Steven Butala:
Jill, will you please turn your phone off.
Jill DeWit:
Oh, yeah.
Steven Butala:
We need to record these shows. Because you're going to California tomorrow. We're not going to be in the same room. To her credit, she can't put her phone down because we've got a very successful mailer going on right now.
Jill DeWit:
It's so [inaudible 00:01:03].
Steven Butala:
And she's like, "Listen man, you want to make money buying real estate today? Or do you want to record shows today?"
Steven Butala:
And I said, "We need to record these shows." So you're going to have like, 10 deals when we're done.
Jill DeWit:
I know, the mail's hitting, and it's awesome.
Steven Butala:
It is. We got three properties out of this mailer already, and they're ...
Jill DeWit:
Mm-hmm (affirmative), phenomenal.
Steven Butala:
We'll make six digits on each of them. And I bet, there's probably like, 10 more.
Jill DeWit:
And nobody's mad. I'm really going to up my game, by the way. Side note, we're totally off topic.
Steven Butala:
Yeah.
Jill DeWit:
But I'm working on more content and to help everyone, because as time goes on, I'm getting better. And I can really help everyone here with these phone calls coming in. And winning them over in just a few sentences so they want to sell to you, and they're not mad.
Steven Butala:
Here's what I did on this mailer. It's a very low volume mailer, about a thousand units-ish. But I went in at about 60 to 80 percent of the retail value, because I know the area very, very well. And I know that ... I was just explaining this to somebody on Discord. I know how fast they're going to sell.
Steven Butala:
So think of it in houses, from a housing standpoint. If you live in a neighborhood where there's a lot of similar houses, and three of your neighbors sold like kind houses really recently for 300,000 dollars, would you pay 250,000 for the house across the street?
Jill DeWit:
Yeah, mm-hmm (affirmative).
Steven Butala:
Absolutely. And that's a pretty high percentage. That's 70, that's 85 percent of retail value.
Jill DeWit:
Mm-hmm (affirmative).
Steven Butala:
Because you know you're going to sell it really fast. And you know the neighborhood, and you know the whole thing. So, people were pretty surprised that I was talking about this on Discord, because there's always somebody in the group that says, "Oh my gosh, you've been telling us for two years just to do it at 25 percent." I said, "You know what? It's not engraved in stone."
Jill DeWit:
I know, it's true.
Steven Butala:
Going into a new market like we are still buying property from an old mailer.
Jill DeWit:
Mm-hmm (affirmative). I got a couple [crosstalk 00:03:01].
Steven Butala:
We went in at 20 percent on that, and she's still buying property.
Jill DeWit:
Yep. All right, Jason wrote, "I have an accepted offer on a parcel in Blank County.