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Land Investing Online

From Zero to $269k: Justyn Bostic's 6-Month Land Flipping Journey

In this episode, the Apke Brothers are joined by fellow land investor and member of the LIO Community, Justin Bostic!

He shares his journey from working for others to starting his own land flipping business. He reveals that he did face challenges along the way, but remained determined and resilient.
He made mistakes and learned from them, ultimately achieving success and generating $270k in profit!

Justin's WHY

Growing up in a large family, Justyn quickly learned independence and resilience and knew he wanted to use these skills to create a successful business. 

Seeing local businesses or start-ups finding their financial freedom inspired him to build his own business.

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Overcoming Challenges

Justyn reiterates how important it is to remain unfazed by setbacks, such as unsuccessful mail campaigns.

One must recognize that persistence pays off in the long run, and focus on internal problem-solving instead of blaming external factors for challenges.

2024 Goals

The 2024 goals Justyn shares with the Apke Brothers is that while he would love to hit $1 Million this year, he truly just wants to continue building his skills as a land investor. 

His immediate goals for the year are focusing on skill mastery, acquisition, building funds and growing his marketing efforts.

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Listen or watch the full episode below ⬇️ to learn more about how Justyn hit $269k in just 6 months, and how he plans to grow his land flipping business!

Listen to the Podcast Here

View Transcript here

Justyn: The things that I really enjoyed was like starting businesses. And I had a lot of admiration for local business people in my community, um, and just how they served the community, but also how they were able to create financial freedom for themselves. Um, I got a little bit tired of working 12 hour days for somebody else’s dream.

And I knew that. I had my own dream and wanted to move closer to ultimately starting my own company, but one thing that I had a mental block with early on was the sales process. And what I ended up doing as a, as a remedy to that, um, is I actually skip trace the list and I just cold called for a couple of weeks, um, just for the sole fact of facing rejection.

Ron: You’ve only sent 40, 000 mailers or so. Is that correct? Yeah, that’s great. Like it’s 30, 000 of costs, maybe 40, if you say a dollar per mail, but it’s not that much really. And you’ve made 289, 000. There’s like, you do not have to be overly efficient. With almost nothing. The first six months. He hasn’t been efficient with mail overall.

If he sent 40, 000, he’s got nine deals start to finish. He’s got three more in the pipeline. He’s not overly efficient with mail, but it doesn’t matter.

Dan: Hey everyone. Welcome back to the real estate investing podcast today. We have a special guest with us. Justyn Bostic. Justin drove down from Columbus to Cincinnati to our new headquarters.

And it’s our first in person recording with a guest. Welcome in, Justin. We’re pumped to have you.

Justyn: Yeah, guys. Thank you so much for having me today. I really appreciate the opportunity.

Dan: Good stuff. So first I want to talk about your journey. You know, what’s your background from college? Did you go to college?

I want to hear about your whole background in general, your childhood and just take us through to when you started land flipping. And then from land flipping, we’ll get later on in the episode from that journey forward.

Justyn: Yeah, perfect. Um, so I grew up, uh, in a, in a large family with, with eight kids. Um, and in that came a lot of independence, um, and just keeping myself busy.

And, and one of the things that I really enjoyed, um, in my, in my free time was like starting businesses. Um, and I had a lot of admiration for local business people in my community. Um, and just how they served the community, but also how they were able to create financial freedom for themselves. Um, so I was, I was flipping candy bars and, uh, wrestling shoes.

I was a wrestler growing up, um, all the way from a young age. And when I went to college, I knew that I wanted to study business, um, specifically finance. I knew I wanted to create my own company, um, try and bring a new product or concept to market, uh, and learn the, the kind of the principles behind raising capital, um, and being a part of a venture backed startup.

And so after college, I went into a venture back startup in the cannabis industry, um, and spent a few years there. Um, we, you know, raised 50 million and I served in a marketing and sales capacity. So I learned a lot about, um, you know, converting somebody from, you never contacted them. It was a brand new industry.

In fact, um, all the way to bringing them to the close point, um, in a B2B sense. Um, and so gathered some marketing experience at that, at that startup, eventually, um, I got a little bit tired of working 12 hour days for somebody else’s dream. And I knew that I had my own dream and wanted to move closer to.

Um, ultimately started my own company. And so, um, I quit that job and actually went into working in construction and I was renovating multifamily real estate in the city of Columbus for friends. Um, and I had already purchased some rental property on the side that I had, uh, renovated and furnished and was renting rooms out.

Um, but this to me was a next step in the direction of, um, finding my own business and specifically real estate started to make more and more sense. And I got some great mentors on that journey. Um, and so I was, I was doing construction for, uh, one of my buddies, renovating a 14 unit, seven unit, 11 unit for about a year and a half.

Um, and as I was, uh, doing construction last year at this time, I, I heard your guys podcast and got introduced to the concept of land investing. And I saw my path going more in the direction of, of doing construction and doing new builds, um, but I was just, you Intrigued by the idea of finding an off market lead.

Um, I knew the way, uh, the, the power position that you got in the marketplace. If you found a great deal off market, um, just from friends and colleagues in the real estate space. And so I wanted to give it a try with the idea of potentially doing a new build. Um, but after learning your guys’s business model, a lot more, uh, intricately and, and getting into the principles and the details.

Um, and just the mastery of the flip, um, I got way more interested in just doing the traditional flipping model, uh, full time. And so I started in April. Um, it was April 17th of 2023. Uh, we’re like March, I think it’s 14th today. Um, so a little under a year and, uh, to this point, my company, by the end of this month, we’ll have generated 280, 000 in deal profit.

And we have another about 80 in the pipeline right now. Nice. Um, so it’s been a good start, a fast start. A lot of great learnings. Um, being a part of the community has been a critical component of, uh, early success. So, um, yeah, happy to be here and answer any questions about, about the land flipping business.

Dan: So you were running a construction company, then heard a land flipping it. Is that construction company completely gone now? What’s that going on?

Justyn: Yeah, it was, it was more of like a shell company that I was kind of the project manager. We hired on team members, but it was really just for, um, renovating, uh, properties that my friends owned.

Dan: Got it. And you said you grew up with eight. siblings. Yes. So it’s a family of nine, including you. Uh, yes. Yeah. And then 11 with your parents. Yes. Wow. Talk about that a little bit.

Justyn: Yeah. So I’m the second oldest of eight and, uh, it was a wild, uh, family dynamic growing up. Uh, we’re still all very close to this day.

Um, but. A lot of that just build in sort of a sense of resilience and kind of the need to just be in an individual or to individuate earlier on to find my own interests, the things that I was passionate about and bring that to the table, um, with my family. And so, um, part of my journey, even now, uh, I I’m always trying to learn and then pass that on to, to my younger siblings, but it was a, it was a really fun dynamic.

I’m, I’m hoping that a couple, A couple of my younger brothers want to come on and join the land flipping business full time. So one of them, yeah, one of them’s graduating this year and I think he’s going to come online with us so.

Ron: Very cool. Very cool. So Justin, a lot of people talk about like their first six months in the business.

And obviously we’re talking about, you’re almost a year in, can you talk about those? There’s a lot of hurdles that go into like, Starting this business learning one thing from you, like you being pretty active in the community, not the most active person in community, not the least, but it was, you always had like a positive mindset.

Like you’re always excited. You’re always pushing forward, always getting deals reviewed, but talk about your first six months in the business as a whole, what that looked like, if you’re successful, or if there’s a lot of learning lessons, everything like that.

Justyn: Yeah, a hundred percent. Um, there’s been a lot of learning in a lot of the way that I looked at my Jump or dive into land investing was it was a new environment where I could apply new principles and change my thinking in the way that I relate to, to my life, to my process.

And so when I started the land investing journey, I wanted to make sure that I was operating at my edge as far as where I was comfortable and uncomfortable. Um, so a lot of the data side of things made a lot of sense to me early on and, and just getting the marketing out, sending the mail. But one thing that I had a mental block with early on was the sales process and dealing with hate mail, uh, or, or hate mail returned or hate calls.

Um, and that really weighed on me. And, uh, it took, uh, for me early on, like what I ended up doing as a, as a remedy to that, um, is I actually skip trace the list and I just cold called for a couple of weeks, um, just for the sole fact of facing rejection and feeling uncomfortable. Um, and I was doing this in an environment.

Um, where there was other people cold calling and in the real estate brokerage in Columbus, um, so I didn’t feel so alone in that process. I can imagine that would have been more challenging if I didn’t have other people around me. Um, but it, that cold calling for two weeks really kind of got me out of my own way and out of my head and these conversations and allowed me to build a script and test that script.

Um, and ultimately understand the, the conversation dynamics a little bit more thoroughly. And, you know, that first six months, um, I bought and sold one deal total. Um, it took me from April 17th, I think the first day that I recorded a sale was, uh, it was October 29th. Um, and so it was a long while of, of waiting, continuing to apply the model.

Um, I still had other leads coming in. Um, but you know, I made mistakes early on and, and I made mistakes on my first deal. There’s one story in specific that, um, on this first deal, I purchased this property. Um, I did not know that the mineral rights were separated from the, the ground estate. Um, and, um, I didn’t know that that was a defect specifically in this area.

And so, um, we had purchased the property at a great price. We still knew even without mineral rights, we could sell it. But I went as far as to finding the owner of the mineral rights and trying to reach out to this individual and come to a way that I could reacquire those mineral rights, sell the estate back together, um, and reached out to this guy.

I had a great dialogue and we got to the point where I put probably 12 hours of research into what was a good, even fair price to him, send it off to him. And the guy called me and he called me a clown and you know, this and that, and, and just, it was a, it was an experience where. I still hadn’t been paid.

Um, I felt relatively like low as far as the response to all this effort that I was trying to bring, bring this guy some value. Um, and it really made me question like, Hey, what, like, do I actually want to keep doing this? And I think it was in that moment that I was just like, it was painful, but I was like, you know what?

I’ve put it on the line for this far. I know it can’t get any more painful than this. Like, I’m just going to keep going. Um, it doesn’t get much worse than someone calling you a clown. And so, um, so pretty much like I just took that, that, that loss kind of in stride, um, also learned that, you know, maybe it wasn’t the most efficient time trying to reconnect the mineral state to the land estate, um, ended up getting out of that deal and still making a great profit on it.

Um, but it was, it was really just being at that edge and being uncomfortable. Um, making an offer I had never made before structuring a deal I’d never structured before, um, in a mineral state, which I really didn’t have a lot of background or context in. And so there, for me, a lot of it was just a willingness to, to be the beginner, to, to be the fool in the process and to get real time feedback and take that feedback to heart and make better decisions faster.

That’s something I’m always telling myself in my businesses. Try and learn from this decision. Don’t be afraid to pull the trigger and make a decision. Um, and keep moving things forward and good things are inevitably going to happen if I keep keep that posture.

Dan: Yeah, really good points. And one thing I want to point out, like the first six months, always the hardest, and you’re obviously getting momentum now.

I mean, just speaking to the numbers, you said you had 280, 000 of profit since yes. And you had one deal in the first six months. Yes. And you said October 29th, was that last? Uh, what’s your first deal for? Yeah. First deal that disposed on the sell side. Correct. So since November two, it’s only March. You’ve had majority of that 280.

Justyn: Yeah. Yes.

Dan: So the momentum is definitely picking up. I mean, those are really good numbers. Just thinking the last six months, what got you through those first six months to see like what mentally got you through that? Like how’d you stay every day? Like you’re putting everyday work into this every single day over and over again with only one deal.

What got you staying pushing?

Justyn: Yeah, there, there was a point in time for me, just the way that I had, had set things up personally in my life. Um, I kind of burned the boats when I was coming into this business model. Um, I was funding it on a home equity line of credit as far as my deals getting funded, um, getting creative as far as, uh, you know, having 0 percent APR cards to, uh, fund my mail.

Um, and really just, just kind of fighting tooth and nail to, uh, Get my mail out and get as much learning as possible. Um, and then, you know, there was just this willingness that, you know, if I have to lose my house, like trying, trying to get this business going, like I’m willing to lose that. And it was, you know, there was times where I actually thought that was a possibility, but I also knew the principles that I was being taught and the community that I was surrounded with.

I felt. Relatively safe on that front. And I knew that the deals that were in my pipeline were ultimately going to mature. It was just a matter of time of committing myself to, to, um, to mastering the principles that would allow me to be successful with those deals.

Dan: Talk about the community a little bit.

Cause Greg said the same thing.

Ron: Greg, literally said the same thing. Like, would you have quit without the community or if you’re alone, pretty resilient in terms of it, but, um, everyone’s different. Yeah. Yeah. Talk about that.

Justyn: Yeah. Yeah. I, I don’t know if I would have quit because of the community, but what the community allowed me to do was it would, it allowed me to see a large volume of deals and watching, watching Ron and you comp land, um, every Wednesday, like that, that was something I watched religiously.

I went back and I watched. Previous comping videos. And this was something that I really wanted to master, um, very early on and very quickly. So even when I didn’t have deals that were necessarily super profitable or in the pipeline, I knew that the deals that were coming in. I had a lot of confidence in them.

Um, and so that element of, of seeing the community, um, really investing themselves into the marketplace, testing this business model, being willing to make mistakes, being surrounded by other people who are doing that gave me a lot of confidence that I could do it too. It was just a matter of time and skill building until I got there.

Ron: And he kind of, Dan, I’ve never heard someone say it in terms of like, He cold called to make himself uncomfortable, essentially, which is like, I don’t want to brush over what you did in terms of that. Cause that’s, I’ve never heard it. Honestly, a lot of people cold call because they don’t have money. You had some mail money behind you or credit card money behind you or whatever it was, but you did it literally just to get reps and being uncomfortable, which is a really, that was the reason you did it.

Right. Essentially.

Justyn: Yeah. And, and a lot of what I’ve learned on my business journey and talking to high level business owners is, There’s just this thorough commitment to mastery. And so when I learned about the land model, I knew that there was the mastery of the operations, the mastery of the marketing, the mastery of sales, and then the mastery of relationship building and disposing of these properties.

And you could add funding in there as well. But I knew that the sales area was the area that I had the least amount of experience and I felt the most uncomfortable with. And so I knew that that was going to be my Keely seal if I didn’t address it. And so that was the intention behind that was, Hey, I want to.

Uh, continue to develop as a salesperson. And so, you know, it’s reading sales books, it’s doing cold calls. Um, sometimes when I’m uncomfortable now, I’ll skip trace numbers and just. You know, bang a bunch of cold calls out to get reconditioned to, uh, you know, being willing to put an offer out there, being willing to sit in silence on the phone, um, being willing to, to learn from what this seller is giving me as far as feedback, um, every single.

phone call was a learning experience. And that’s still to this day, how I really view that, that relationship with sales. Yeah.

Dan: Yeah. And I want to touch on that because that’s something I’ve talked about in the past, taking a D salesman and bringing them to a B minus or B or whatever you think you’re at now, but that’s possible.

Like you might not ever, you might not be the greatest salesman ever, you know, from just repetition, but you can certainly get good enough. And the people who struggle in this business are the people who come in and they’re scared of the phones and they’re not calling people back. There’s people who don’t call, call people back if they don’t leave a voicemail.

Um, and they’re like, you just got to be so aggressive on the phones. And I just want to shout that out because arguably like those are the pillars you just listed out. But the sales pillar, like acquisition pillar is probably more important. It’s, it’s towering over most of those other pillars in terms of importance.

Justyn: A hundred percent. It’s said in real estate, you make your money on the buy. And that is the key to opening up the doorway to, to, to making great money. So. I think, yeah, the sales element, I think is the most important element in the business. And it’s something for me, I’m going to continue to focus on learning and growing.

Ron: And we, uh, to be honest to everyone listening, a lot of people aren’t members of the community or members of our program. Like some of the stuff Justin’s used is from our program, obviously, but like these other things, like I’ve never told anyone cold call people, like I’ve said, be aggressive on the phone.

We said, call people back. But a lot of this stuff that Justin’s doing, it’s just like, okay, I need to work on my salesmanship. How do I do that? I get reps in. So. Props to you with that. Like you’ve done an unbelievable job. We didn’t know all this coming into this interview. I just know you’ve been successful.

Um, but let’s kind of talk about those. How many deals have you done so far?

Justyn: So nine will be through maturity at the end of this month.

Ron: Start to finish. Yep. Okay. And then how many do you have you’re buying right now or under or for sale?

Justyn: Another three on the buy side.

Ron: Okay. So you’re, you’re staying busy, uh, for sure, which is awesome.

How much mail have you sent?

Justyn: So the first wave in 2023 was 24, 000. Um, we have probably about 36, 000 lines of data that we’ve downloaded since the start of this year. And we’re just working through sending out that mail, probably about 10 K a month.

Ron: You kind of slowly filter it out or send it out. Is that correct?

Justyn: Yeah. So we, we send out about two counties a week.

Ron: Yeah. So do you think like the thing that, cause obviously first six months of not having it, you have one deal, um, which is normal, like it is a normal thing and so many people quit at that point where like it is a learning phase. Like that’s what I talked about in the episode the other day is like, it is a learning phase.

Those first six months, you might make some money. You’re probably like, you might be breaking it and you might make a little bit of money. You might lose a little bit of money. It’s just the reality of it. Um, but talk about like, How’s your mail efficiency improved over? Is that just directly rated your sales or a combination of things?

Justyn: Yeah. So, um, I think it’s just making the most out of every opportunity that you have. And you know, that first wave of mail, we sent out so 24, 000 in 2023, um, and, and that equates to about one deal for every 2, 600 mailers. Um, but you know, two of those uh, Two of those contracts that were signed recently were from mail that I sent back in October.

Um, and so these are people that are reaching out later on. Um, the other element to it, that I’ve done a little things a little bit differently in my business is I actually go out and view every property myself. And if possible, I try and meet the owner in person. Um, and so whenever I hop on a sales call with somebody, my intention is to create a Deeper relationship as possible.

So that because the likelihood that they have other mail is very high. I I’ve got gotten told that on three of my deals that, Hey, I have other pieces of mail, even a better price. And they ended up going with me because of the relationship that we had built. Um, and so a lot of the, uh, improving mail efficiency is just taking advantage of every opportunity that you have investing into that relationship.

Understanding why the seller wants to sell, um, understanding that the seller may not be ready to sell right now. But I’ve had this happen before. Somebody gives you a call two months later and they’re like, Hey, we’re ready to go. Um, we got this figured out with our family and I’m right there ready to seize that opportunity.

Staying ready, kind of in the crosshairs. to, to, to take advantage and to provide a great service to that seller. Um, and so a lot of, uh, the, the way that I think about mail and, um, ultimately turning that into a good purchase, um, is building the relationship with the seller. And ultimately just staying ready, being ready at, at, at any time to, um, offer a great service and delivering on that service over communicating continuously with that seller with the title company and making sure that they feel like they’re being taken care of by a true professional in this space.

Dan: Yeah. And you’re looking at everything internally. Like what, what can I do better? Never blamed in the business rather than blaming external factors or the economy or whatever the county you’re in or whatever it is. I just want to shout that out. You’re being very, very aggressive on the acquisition side, which is awesome.

Like when someone gets, if someone gets multiple mailers and they just see the piece of paper, but. Justin goes over and meets the guy in person, shakes his hand, talks to him, you know, reaffirms, he can get his money in a couple of weeks like that stuff. You are going to beat competition over and over and over again doing that.

So when you guys talk about like your mail rate and how many deals you’re getting per mail and all those different things, like think of how to lower that through relationships and things like that. I just want to shout that out. You’re not thinking within a box. You’re way outside the box. Like I don’t hear a lot of people doing this at all.

And I want to So I wanted to just reiterate that with anyone listening, like that’s how everyone should be running their business. This business, every person’s different. Justin didn’t have great sales experience. He was different. So what’d he do? He cold call. He’s coming up with solutions based on him, not the land flipping business model necessarily just based on you, your weakness, what can improve your business best.

So I wanted to just reiterate that.

Ron: Yeah. So just real fast. What are your 2024? So you did, how many deals did you go through maturity in 2023?

Justyn: So in 2023, that would have been six deals. Six deals and how much money? Uh, in 23, that would have been My first wave of mail in 23 was 24, 000 mailers. Those mailers generated 289, 000 of profit.

Ron: Okay. Awesome. So you have a lot of deals that are still in the back. Okay. Um, that makes sense. So what going forward, like you can see the momentum, I, you can feel the momentum that you have, like compared to where you were, like looking back six months, I’m sure it’s crazy. Like crap. I was fighting for my life six months ago in this business.

I’m worried about my house going under all this other stuff. And now you’re like, okay, am I going to make 500, 000 a year? 800, 000 a million dollars. What are your goals for 2024? Yeah. Cause your margins are like, I was looking at your little amazing document that you had, like your margins are just like steep incline, 40, It just keeps going up.

Justyn: Yeah. Um, you know, tangibly, like I want to hit the million dollar mark and if that happens in 24, great. Um, I, I’m ultimately in this for the long game, you know, I, I can see myself doing this for the next decade, two decades, um, continuing to play in the real estate space. So a lot of it for me is just continuing to focus on skillset mastery.

And, you know, focusing on that acquisition, disposition, fundraising, operations, and marketing, and just, you know, having a real frame of how am I going to grow as a marketer this year, this month, this quarter, how am I going to grow in sales this year, this month, this quarter? And I have those broken down.

So it’s reading, you know, a sales book a quarter. Um, so I’m just focused more on the skillset acquisition and I think the results are going to come. And that’s just what my journey has shown me. Um, and so, you know, tangibly, I’d like to hit the million dollar mark. If it happens in eight months, great. If it happens in a year, great.

If it happens in three years, great. But I’m going to keep chomping at the bit and taking advantage of every opportunity and when that million dollar mark comes, that’s great.

Ron: So do you have certain types of deals that you’re going after? Um, and we’re definitely, we’re not going to talk about areas or anything like that location you’re doing deals in, but certain type of deals, sizes that you’re doing, double closes.

Maybe what, what’s kind of your strategy right now?

Justyn: Um, so I, I tend to try to stay away from anything in the lower acreage ranges. So typically I’m, I’m trying to look for something five acres or higher. Um, and ultimately, you know, the, the types of deals that we’re attracting more recently are more rec land focused and bringing on, I have partners kind of in the crop or like in the wings that are ready to do land management work, set things up for a hunting property, great realtors as, as well.

Um, so I think, uh, Focusing on kind of value add deals in that realm is interesting and where we’re headed. And then the other that we’re kind of engineering a process for is capturing more entitlement deals, um, which generally are going to have different contractual terms. Um, but we have this machine that ultimately finds off market deals.

We can do the same with entitlement deals. Um, and you, you’re going to have to offer that seller more money. So, um, currently building out those systems, but really, I mean, it’s not a whole lot different what I’m doing relative to what you teach in the course. You know, I have my, my kind of, uh, markets that I focus on that are local to me because I know those markets.

I know, you know, what land goes for in those areas. I can also call one or two people is, is a phone call away in order for me to, you know, understand what’s going on in that area. Just cause I work in the state that I live in and I will continue to do that.

Dan: I love it. Got it. I want to follow up something we didn’t really touch on individual deals.

What’s, what’s your average profit per deal? Roughly? Uh, I think it’s like 37. Oh wow. That’s after or before funding. No, that’s after funding. Oh God. So you’re getting, that’s the five acre thing. You’re just not getting anything under 15, 000 or so.

Justyn: Yeah. Yeah. Pretty much.

Dan: And do you have like, you’re talking about improvements and value add, do you keep wanting to bring, do you want to bring that 37, 000 up?

Or do you want to stay around there? Like what, what deal sizes are you looking forward to?

Justyn: I think we’ll continue to maintain our, our intention is to maintain the same pace that we’re going at right now, which is the flipping side of things. And then peppering in more entitlement deals. Like we’re working on an entitlement process right now.

Um, it’s a, it’s an entirely different process, but, um, you know, we’ll have one or two of those value add deals go on while we continue to run the core business model that’s taken us to where we’re at right now. And it’s going to take us where we want to go in the future. So I’m not changing a whole lot from the business model, but trying to, once again, get more reps, learning something as far as a niche that, you know, we could get pretty dangerous in, um, and continuing to try to bring those opportunities, uh, in for learning purposes only.

Dan: And your core business model right now is based off male solely.

Justyn: Yeah. It’s, and then your cold calling on the side a little bit. It’s, it’s all male that has driven, driven results. Um, cold calling is for training. Um, I’ve had a couple of deals that came through, but they weren’t, they weren’t great margins, uh,

Dan: From cold calling?

Justyn: Not like that. We actually closed on, we ended up not moving forward, but yes, like a couple of leads came through that, that direction. Um, so all of this has been driven by mail. We are doing followup texting now. Um, and you know, we’re one County in, uh, it’s been, All right. We’re, we’re mainly just learning how we want to filter these leads.

Um, and yeah, what are, what are our text rate is going to be as far as how, how fast we follow up. There’s a lot of learning. I think it’s going to take us a few months to really get our feet under us.

Dan: And someone came to me with the problem. They’re not getting enough leads from mail the other day. And I said, you want leads.

Define leads. And then they define leads for me. I said, you want that start texting cause you’ll get 20 percent of those. Right. So you got to look at like what, what are your main KPIs you’re looking at in your business?

Justyn: Yeah. Um, I, I mean the number one is, is opportunities converted. Um, you know, it’s like if I have 13 qualified leads with great land at a great price, I want 13 deals in my pipeline.

Um, and so, you know, I’m trying to convert a hundred percent. So that’s, that’s the number one area of focus as far as KPIs. But we do track You know, what our, what our mail rate is per month, um, we want to be at that, you know, eight to 10, 000 mark, um, per month, at least in 24. Um, and then, you know, over time, like I don’t like to track KPIs as far as my process goals a whole lot, but like when we come and zoom back out and we look at 23, kind of this first season of land investing, if you will, that’s when I’m really looking deep at like, Hey, what was my most effective, um, county that I mailed?

What were the ratios as far as sale to sold? Like, what were my indicators is why I selected that market. I’m going back and looking at those markets that we were successful in. Um, and now I’m going to select my markets in 24 that look exactly like those markets going to remail the ones that we’ve been more successful in.

So really kind of try to stay out of, um, overanalyzing the data just cause I’m naturally a, you guys can see my sheets. I definitely overbuild things.

Dan: He’s got a pulse on his numbers. That his documents a full of everything he knows.

Justyn: Yeah. Yeah. But, um, yeah, main thing man is just staying in the process, um, and continuing to, to orient toward learning.

And, and I think the results come.

Dan: Yeah . And you’re like, when you talk, I’m just thinking you’re building a business. Like, uh, your pillars are so strong. Your skill sets are going to be so strong, no matter what the competition does, no matter where it looks like in five years, what it looks like. You’re going to have the skills to build this up.

Things are going to change. Maybe direct mail, something happens. Let’s say direct mail got illegal and there were people just stopped mailing. That’s not going to happen, but you’re going to build up systems for texting and all that. Just everything, your acquisitions model, all the pillars are going to be strong because you’re building a business, not an individual.

Like your skills are going up. Your business is really solidified. So I’ve like through these external factors, as things change, I feel very strong that 10 years down the road, you’re going to be in a really, really good place.

Ron: And it’s cool to see like everyone we have on the podcast who, Is that successful?

Justin more successful and they’ve been in a little longer, whatever it is, like they’re all doing something like a little tweak, a little niche. Like we don’t have everyone. A lot of people say they’re meeting people in person, just those little things that make you convert deals more or like huge. And it’s so the learning, like you’re doing learning by yourself for sure.

Like you’re going out, you’re testing things, you’re doing all these different things. Talk real fast, Justin about the minds like you care about mail. Uh, Success rate or how do you like so many people get so worked up in their their deals per mailer Like they didn’t send they sent 4 000 mailers didn’t get a deal Um, or whatever wasn’t in his kpis.

He just told us. Yeah, he didn’t he didn’t say it there But so you analyze what happened like did I overpriced underpriced mail whatever the situation is But what’s your kind of mindset? Do you care if you send 4 000 mailers or what you send 4 000 mailers and don’t get a deal or don’t get good results What are you looking at if anything?

Justyn: I might go back and check my pricing. Um, I might go analyze the market a little bit more to just get feedback. Like if I, if I blanked on an entire County, I want to know why. So I’m going to look at that and try to learn from that. But for the most part, I’m not going to sweat it. I know that it’s a game of attrition.

Like there’s only so many sellers in each County that are Ready to sell their land that are motivated that want to take advantage of our offer for those people that are ready We’re gonna be ready when they’re ready. We’re gonna we’re gonna capture that opportunity. We’re gonna provide them the best service We’re gonna be the best land company they’ve ever worked with But for the most part, like, I’m just, I’m just waiting for that opportunity.

And I don’t get too wrapped up if I, you know, blank on 6, 000 mailers in a row, like that’s happened. And I think, you know, even those ones that I quote unquote blanked on. You know, three months down the line, you have somebody reach out and they’re like, Hey, I have this mailer. Are you interested in still working together?

Yes, I a hundred percent am we’re ready to go. Um, and so, yeah, I think it’s just not getting too caught up in those numbers. I mean, you definitely want to be learning. I know of other investors that I’ve talked with or worked with that, you know, haven’t seen great results, um, on mail. So if you’re looking for outside feedback, you know, like only you can tell if, if you’re not, uh, maybe, uh, Understanding, uh, the, the exact model and how to price your mail.

Like if you need help, reach out and get help. But for me, like I feel confident in our pricing model. I feel confident in the numbers that we’ve sent. I have enough. Feedback from the marketplace that says we’re in a good position. Um, so I don’t get too wrapped up if we have four or 5, 000 mailers that lead to no contacts.

Ron: I think what you said, Dan, like wraps it up like so well opposed to him, like not talking externally about it. Like it hasn’t once been anything external. I mean I was surprised that he wasn’t going to say I cold call people. Every solution Justin has is I cold call people. If a mailer doesn’t do well, I cold call 20 people and ask them, why the hell didn’t you call me back?

Um, but, um, yeah, like it’s just always, you’re, you’re solving, you’re solving the puzzle. Like there’s puzzles in this business and you solve them opposed to like, okay, what happened? It’s the county’s fault. It’s the mail’s fault. It doesn’t work. It doesn’t work. There’s too many people doing this. It’s all the stuff we hear for sure.

But you weren’t making money at first. You’ve only sent 40, 000 mailers or so. Is that correct? Yeah, that’s great. Like it’s 30, 000 of cost. If you say a dollar per mail, but it’s not that much really with data and everything and you’ve made two hundred eighty nine Thousand dollars like you do not have to be overly efficient with mail almost nothing the first six months He hasn’t been efficient with mail over all if he sent forty thousand.

He’s got nine deals start to finish He’s got three more in the pipeline. He’s not overly efficient with mail, but it doesn’t matter because 37, 000 profit. Yeah

Justyn: Yeah. And if I had to give, and I was thinking about my intention for this episode today, and one thing was just connecting with other land investors who are on the journey, who maybe are in the process of taking their lumps.

And there’s two things for me that come to mind. The first is You know, making this business your own. So if you know that you have a strong skill set in sales, or you have a strong skill set in numbers, building that business around your skill set and ultimately figuring out what you’re not good at and creating a process that allows you to make it a game with yourself to get better.

Like it doesn’t, we don’t have to take ourselves so seriously. Like that was the biggest thing for me about cold calling was I was taking myself so seriously, these deals so seriously. I just needed to get out there and get rejected a bunch so that I, I could get a nice taste of humble pie and ultimately know, you know, what service we’re providing in the marketplace.

And the other one that came to mind for me was just. Knowing your why, knowing your story, um, that’s part of the sale. That’s part of the relationship that you build with a seller is, is telling your story, telling why you’re doing this. Um, now ultimately, you’re there to solve their problem. You’re not making the sale about you, but to know where you fit into the market, um, as far as offering cash transactions that are very efficient, um, paying for closing costs.

Like you hold a position in the marketplace and know what that position is, offer that service and deliver on that service as an exceptional level. And if you can do those two things, build it around yourself. And just stay committed to offering a great product and service. I think the rest will work itself out.

Ron: That’s a big time. I love that. Um, well, we definitely have to have a part two of one of these. Yeah, this was good, man. We can dive into all this stuff. He’s doing things differently, which I love. Like that’s what I really love learning other people’s stories. And you’re motivating too, for people who are listening, like you’re motivating

Dan: The six month things getting started.

Ron: Like you’re, you’ve learned six months. It’s so normal. Six months and breaking even six months and losing a little money six months and barely profitable, whatever it is. Um, but I don’t think I have anything else for this one, Dan. Like I said, we need to do a part two for sure.

Dan: Yeah. Where can people find you?

Where’s, where’s the best place to reach you?

Justyn: Yeah. If you’re a member of the community, you want to reach out. Um, I’m on discord, happy to chat, uh, you know, love to, to connect with people on one on one combos. Um, Yeah, that’d be probably the best place to connect with, with me in the land investing world.

Dan: Well, thanks for joining, man.

Justyn: Great. Thanks so much for having me guys really appreciate it

Dan: As always. Thank you guys for joining. Please hit a like, and subscribe on our YouTube channel. It really helps drive our mission forward. Thank you for joining. We’ll see you next episode. Thanks guys. As always. Thank you for joining.

Please do us a huge favor and like, and subscribe our YouTube channel and share this with a friend. It really means the world to Ron and I, but more importantly, it could help change the life of someone else. Thanks for joining and we’ll see you next episode.

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