What Your Average Work Day Looks Like (LA 744)
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 from sunny Southern California.
Steven Butala: Today Jill and I talk about what you're average work day looks like.
Jill DeWit: It's probably not what ours looks like. Especially based on today.
Steven Butala: If you're not bright ...
Jill DeWit: What's your day look like?
Steven Butala: If you're not really bright, you have a podcast. That's what my work day today looks like actually.
Jill DeWit: Wait but I made breakfast.
Steven Butala: The theme for this week is: so you've done 100 deals, now what? Today is, what does that work day look like? And I'll tell you what, my feet are up on the desk right now.
Before we get into it, let's take a question. Posted by one of our members on the landacademy.com online community. It's free.
Jill DeWit: Okay. Matt asked, "Hey everyone. After a successful first year trying out the land investing business, I'm hoping to scale up. Jack often says that the most experienced members of the group have scaled up from the $1,000 Profert Properties to $10,000 Profert Properties or higher. I would like to sign properties for cash. And so I'd like to find a balance between time on market and profit per deal. Has anyone experienced where the tipping price point might be for cash buyers?"
Steven Butala: Yeah. Good question.
Jill DeWit: "Obviously fewer and fewer people kind of buy for cash the higher up you go. I'd like to hear from people's experiences where that might fall off. I made these numbers up, but for example: a $5,000 selling price for a $10,000 market value, property flies off the shelf. $10,000 for a $20,000 market value sells for fairly quickly as well. But $20-$30,000 selling price takes a little longer, takes a long long time. Most cash buyers are $10,000 or below, or something along those lines. Please reference your selling price and your determined market value. Thanks in advance for your time and consideration of this question."
I didn't read the whole thread too by the way. I'm gonna go back and see what people have said their experiences have been.
Steven Butala: What better to answer this question than to just give you an example. If you go to LANDiO, L-A-N-D-I-O, dot com, we have no affiliation. And his name's Tory, who owns this property, owns this [inaudible 00:02:24] company. And he's been a member now for over a year, and he went from zero to making exactly what you're shooting for here. And he makes six digits a month. He's easily made a million dollars so far. He's a perfect working example of pricing and sales. And here's what his trick is. He's a fantastic marketer. Look at his posting. Look at the graphics that he creates and the way that he sells his properties in a video. That, more than the selling price, is gonna make these things fly off the shelf. You have to post them really well. Especially this higher, expensive property.
Try to send a mailer off for 10 grand, for property that you know you can sell for 50, that's probably worth 100. $10,000, when you get a letter in the mail that is offering $10,000 to sign your name, it's very compelling. I don't care who you are, 10,000 bucks for a piece of property I'm never gonna use? Do I want 10,