Land Investing can be a difficult market to navigate. If you are coming in with no real estate experience, or only experience dealing with houses you may be left in the dark on where to start. In this blog we hope to cover everything you need to know when you are getting started land flipping. From the first steps of finding a market to sending deals, to scaling to multimillion dollars of deals per year we will be able to give you an overview of the entire process.
Picking A Market
When you first are getting into land investing there are plenty of locations that You can mail, with all of the options how do you decide where to start?
Picking A Region
Rather than going right into picking a county in a certain state, narrow your focus. Instead of picking counties over the entire United States, pick one region of the country, you would like to start with. Perhaps look into the region you live in first, or a region you believe may be better for your objectives.
Choosing A State & Counties
After you pick a region to focus on, drop down to a more granular level and research some locations within that region. It is recommended you pick a county with a lower population, as we focus on vacant & rural land.
While you look for a lower population, a good note is to look for counties that are not too far away from cities. The idea behind this is to be able to find a good piece of property that city dwellers can go for a weekend getaway, or just to put a mobile home on for vacations that is not too far.
For more advanced county selection tools, we provide multiple modules on this topic in our course. To learn more about that CLICK HERE.
Once you pick the counties you would like to mail, the next step is to pull your data. Here we are looking for two specific pieces of information.
Data On Houses In Your County
You will need the mailing address, APN number, amongst other things that you would need to get in order to send out mail to those counties you have selected in our last step. You can get this many ways, we teach our specific method of getting this information in our course.
Data On Comparables
This is the easier part. You can find comparables on Redfin, Zillow, Land.com, and many other places that allow you to view the for sale and sold prices of land over time in the area you are looking to mail. You can then find the average price per piece of land.
Note On Comparables
Be sure when you are running comparables that you are not using beautiful pieces of land that are rare with a lake or some other unique property when pricing your mail. You will not likely be able to acquire land like this due to its rarity and increased price. You want to use more normal land prices when running your comparable numbers.
We use mail as our preferred method of contacting land owners and offering below-market offers on their land. You can use other methods of contacting these landowners such as text message, email, and cold calling. We find the best numbers are in the mail, as there is less work and it is relatively cheap and easy to send out.
As you close more deals and grow with more profit, you have the opportunity to scale up and continue growing your business larger and larger, generating more profit and making a larger impact on your clients.
When you scale you are able to send out more mail. The name of the game is more mail. This will continue to improve your deal flow, leading to more profits and an endless cycle of more deals.
When we are buying land, we are positively helping our clients. We are providing a quick and cash close for people who may be in need and may not even know they own the land or never visit it. We have stories of clients who need the money from our deals for cancer treatment, family issues, and plenty of other payments. The more deals you do, the more positive impact you leave.
Here is a very brief overview of the entire process we go through when looking to buy and sell vacant land for our business. This is the same process we teach in depth to our students which has helped them get a deal in less than 30 days of starting in some cases!
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Want to learn more about our courses? Check out our plans and pricing page here to see our different options.