Uncover the Most Affordable Areas to Purchase Land in the US
The Most Affordable Areas to Purchase Land in the US
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May 29, 2024Whether you are looking to buying land to build a home on, for long-term investing reasons or if you are planning to flip it, it's extremely important to know WHERE to look.
Land prices across U.S. vary greatly, with some states going as high as $350,000 ?
To put things into perspective, average price per land in Arkansas is somewhere around $11,600 per acre. In Hawaii, you can plan to spend around $75,400 per acre!
If you are buying land to hold or for investing purposes, there are areas in the country that are much cheaper.
Based off of 2024 medium data from World Population Review, the least expensive states for land are going to be found mostly in the rural western parts of the country.
We are here to break down which states are going to yield you the most affordable land prices so you can get out there and start buying!
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#1: ARIZONA
AVERAGE PRICE PER ACRE: $4,200
#2: NEW MEXICO
AVERAGE PRICE PER ACRE: $6,000
#3: MISSISSIPPI
AVERAGE PRICE PER ACRE: $10,800
#4: ARKANSAS
AVERAGE PRICE PER ACRE: $11,600
#5: COLORADO
AVERAGE PRICE PER ACRE: $11,600
#6: NEW YORK
AVERAGE PRICE PER ACRE: $12,000
#7: MISSOURI
AVERAGE PRICE PER ACRE: $14,100
#8: OREGON
AVERAGE PRICE PER ACRE: $16,200
#9: ALABAMA
AVERAGE PRICE PER ACRE: $18,100
#10: MICHIGAN
AVERAGE PRICE PER ACRE: $18,300
NEXT STEPS
After you've narrowed down your search to state, you can delve down even further into each county.
The interactive map below was updated at the end of 2023, but has relevant data for median price PER COUNTY.
After you find a piece of affordable land, you’ll want to consider the other factors involved.
Is it buildable? What is the condition? Are there zoning & restrictions? Are there utilities or environmental hazards?
These are all factors that can influence the price, and also tell you whether or not it will be a good investment down the road.
We go over how to do due diligence on a property BEFORE you buy it HERE,
on our Real Estate Investing Podcast!
Learn how Ron Apke built his land flipping business and is already going after 6 figure deals in 2024!
Watch the FULL video below! ⬇️
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View Transcript here
Ron: A huge, huge focus of ours was how do we acquire bigger deals? Buy for 80, 000, sell for 200, 000. Funding deals become very, very big for us, where we have taught hundreds of people how to do this. They bring us deals and we partner on them. You bring a deal to us, it's not just, here's the money. It is, here's the money.
And we also have this Discord chat. We're also here to help if you guys need anything. And there's a ton of value in that. That's our business model right now. Spend a lot of money on mail, send a lot of mail, get a lot of leads, then close them every once in a while. It's hard when you spend three, 4, 000 on mail, then you get a rinky dink deal.
Hey everybody. Welcome back to the real estate investing podcast. I'm your host Ron Ackie for this episode. Really happy to be here with everybody today in this episode, I am going to be simply talking about. Our future, my future goals in land, investing, doing deals, how we're going to do deals, how many deals we're going to do, the size of the deals we're going to try to do and everything around that.
Uh, we've been in the business for quite a few years now. Um, we've obviously started educating. We've started bringing in. Different avenues of doing deals, what that looks like in our business. So in this episode, I'm going to transparently open up about our future business goals with more so with how we're going to do deals, uh, what kind of deals we're looking for and everything like that.
But like I said, really appreciate you guys hopping in here today. If you guys have not already, hit the subscribe button if you're watching on YouTube. If you're listening on Spotify, on Apple, you can please share this with one person that you think could find this episode valuable. One person who could maybe be a future land investor, whatever that is.
But, uh, let's get into it. So As our business has scaled, uh, we've hired employees, one thing over the years, or one thing we've kind of hit a wall with probably not hit a wall, but in the last 12, 18 months was doing deals for 10, 000 profit, 15, 000 profit. Became, I don't want to say it wasn't a profitable business model doing that cause it is, and you can make a ton of money doing even sub 10, 000 profit deals.
There are people who are doing 5, 000 profit deals and doing a hundred of them a year making half a million dollars. They're very happy. They're making a ton of money. Um, and that is a possibility. But what Daniel and I realized, Daniel is my business partner and brother. Um, if you guys do not know, if you guys have not listened before, but one thing we realized was it just was the resources we were putting out to get one of those deals was not worth.
Not necessarily worth the reward, and it didn't have the final destination that we really wanted. Not so as much as like, we're not making money on the deal. It's just the final destination of doing a targeting. So what it looks like is when you got a target, you send mail, you send text to get a 10, 000 profit deal.
Then we have a sales persons who we have a answering service. Who's answering the phone for that. Then you have a salesperson who's calling them back in the purchase agreement. Maybe that takes. Maybe that happens on the first call. Maybe it takes a week, two weeks of following up, whatever that looks like.
And then once that happens, we get a purchase agreement. Now we have our transaction coordinator coming in, doing due diligence, and we have our COO reviewing that final due diligence. And it's a lot of people, a lot of time that is happening to make one deal happen. And when Dan and I met. Probably 12, 18 months ago in terms of like future business things, a huge, huge focus of ours was how do we acquire bigger deals?
What does that look like in our business? What do we need? What kind of operations do we need for that? Um, what does our focus have to be when we're sending mail? Do we need to send a higher volume mail? It's going to be harder to find deals. Like, is it going to be, take more mail to get one deal and I'll get all into that.
But that's what our conversation looked like probably it was around. It was beginning of 2023 when we really started talking about this, and that's when we were reviewing 2022 goal or 2022 results. I remember this conversation very well. We were looking back at it like, yeah, we did really well in 2022, but how do we get our average profit margin up, our average profit margin in 2022?
I, I don't have the numbers in front of me, but I wanna say around 18, $19,000. That's after fund. We paid fund or funders, investors, whatever that was. Um, so. Going into 2023 at the start of 2023, when we're talking about those goals, that's when we really were looking at like, okay, how do we get that 18, 000 profit up to 25, 27?
We are, we were not re when you have a business model that's working so well, you don't want to just cut everything out. That's working. Like we don't want to just like, okay, we're only doing a hundred thousand dollar profit deals and above. I think that's stupid. I think it's a way to go out of business.
If you don't know how to do a hundred thousand dollar deal, not saying we didn't, but we didn't know how to do five of those a month, three of those a month, even one a month. That's not what we were doing in the past. Uh, so we're not going to throw out everything that's working. But what our plan was, was, okay, let's shift our focus.
Let's send nail for bigger lots. Let's be a little more aggressive with our pricing on bigger lots. And one of our huge goals, quarter one of 2023 was get six figure deals. And this was more so the purchase side, get six figure deals. And it was something that we were doing every once in a while before that, but it was not a high volume, our business.
We wanted this to be producing. 50 plus percent of our profit, not necessarily 50 percent of our deals, but we wanted this producing about 50 percent of our profit. We were still going to take those by for 20 sell for 40, 000 by for 18 sell for 35, 37, 000 whatever it looks like, you know, those other deals, but we wanted to figure out how to get six figure deals.
And what we set to do was one very simple target them. If you're not targeting six figure deals, you're not going to get them. So if we do not have a larger volume of offers out the door that are offering a hundred thousand dollars plus, we weren't going to get those deals. So that is something that we really, really focused on.
And every single mailer we sent, every County we chose, we were mailing up to a thousand acres. It didn't matter. Like we were mailing up to, I don't want to say for sure a thousand acres, but 200 to a thousand, sometimes if it's a really, really expensive County, 200 acres might be going for 6 million. Um, so that's what that looked like.
That was our like starting point. We want to do more six figure deals, target more six figure properties, period. Um, so then we had a conversation with our salesperson who dealt with all the salesperson. Inbound leads. And we kind of told him like, this is our goal. Some of them are going to, we think, because we hadn't done as many of these, like, it's not a high volume, but we kind of put in plan some operations behind longer lead time in terms of.
Maybe these six figure leads are going to take six months to close three months to close. So we started putting in some operations for lead follow up for other things when you get these bigger things. And we kind of told him like these smaller deals, buy for 15, sell for 35, buy for 20, sell for 40. Let's try to close these fast.
Let's be aggressive on the phone with these. Let's get these deals through. We want our business to be bigger deals. That is how we scale. We have a team of eight, nine, 10 people, and the amount of people that go into doing one 20, 000 deal doesn't change if it's a hundred thousand dollar deal. And that was our huge reasoning is.
The operations, our cost, uh, in terms of the people doesn't change with a 20, maybe a salesperson makes a few more calls with a hundred thousand other deal, but overall the business model doesn't change. Our cost doesn't change in terms of the time output, our employees, our people need to put into a deal, but that was what it looked like.
Send more mail, talk to our salesperson, explain the process with that. And then it was like, okay, let's see what happens. So quarter one, 2023, we hit a really, really good quarter. It was one of our best quarters, if not our best quarter ever. And that was the biggest reason we had a hundred feet. Like there were, we always, we always wanted in our pipeline five to 10 legitimate leads for six figure deals.
And we looked at, we knew when we were offering higher acreages, a six figure deal could be also a project based deal. It could be a subdivide deal because we're offering higher acres, so it could turn into a subdivide deal. And we knew that when we were sending that mail out, like we knew that and we talked with our salesperson.
We explained that like where we might be able to pay a little more on some of these properties where we were not offering anymore. Based on expected potential subdividing, we didn't want to do that. That wasn't our business model. Let's still get a volume mail, 20, 30, 000 mailers every single month and see what we can do with that.
See what leads come in when we're sending high, high priced mail and we're sending high, high acres. So like I said, first quarter was great. Ton of big leads. We started closing big deals. We got a subdivide deal. That was by for one 20 sell for 350 we got, I'm not going to remember all these, but by for 80, 000 sell for 200, 000.
And it was like, it was just big deal after big deal. We were not cutting our acreage off. So we were just, these things were coming in. They're coming in fast. We're good at evaluating land. And that's one of the biggest things For us was we felt very confident in being able to say yes or no to these deals.
I can say like I'm not going to, it's not going to change my speed saying yes to 100, 000 deal versus yes to a 5, 000 deal. I'm going to be, we are going to make that deal for the seller the same speed. Some 5, 000 deals need a little further due diligence. Same thing with some 100, 000 deals. But overall, our average speed to close is not changing.
We had investors lined up if we need investors up to three, four or 5 million. So that was the whole thing. Let's see how much land we can buy at 40 to 50 percent of market value and go from there. And we blasted it off and we were pushing for these deals. Extremely hard. And that was our focus. And that's the thing, guys, when you start going for these big deals and you can offer cash, you have funding partners, you have these relationships, you can grow your business so darn fast.
Because these sellers, these landsellers who live in New Jersey and we're offering their land in Tennessee and they've never been to land or they've been to land once they inherited, whatever the situation is, then they get this letter offering 250, 000 cash. It's intriguing, like it really is intriguing, even if they know it's worth 454, they think it might be worth 400.
They think it might be worth like this is a cash offer. I say it a lot land. We make an illiquid asset, extremely liquid, and we're not just offering 250, 000 to close in X days. We're saying, we'll get you this money within two to three weeks. And that's what we made happen. And the power of that, the power of those cash offers is what makes these deals happen overall.
No matter what size deal you're really going for. But that is what we really pushed. So that's what 2023 looked like. It was a ton of growth. We did more six figure deals in 2023 than we have ever done combined, not than a single year than we've done combined in our lane career, because it was such a big focus.
The other focus going forward. So that is a huge focus going forward to kind of like, just scale that up. Let's do more big deals. Let's do more project deals. Um, the other big focus as we've built land investing in line to what it is as everything else, like obviously funding deals has been become very, very big for us where we have taught hundreds of people how to do this.
They bring us deals and we partner on them. We have some kind of profit split and we also, the great thing about what we do when we fund deals is the mentorship that they get with them. You bring a deal to us. It's not just here's the money it is. Here's the money. And we also have this discord chat.
We're also here to help if you guys need anything. And there's a ton of value in that to our members and people who partner with us that aren't members as well. But going forward, basically the two things that we are focusing on is one, helping our members out with deals, funding their deals, helping them take on bigger deals.
And then for us as a company, bigger deals, project deals, stuff like that. And I'm not saying like, if you guys are just coming into this business, we have gone away from offering land, cheap land. Like, like I said, initially, when we started, when Dan and I had this conversation 12, 13 months ago, we were like, okay, we think this will work.
We need to offer more big properties. But what has worked in the past is buying for 15, 000 selling for 40, 000. So we cannot just go away from that. That is something that we are phasing out because how much this has worked, because I don't care when I send 10, 000 mailers. If I get one deal or if I get three deals, I mean, yes, it's nice to get three deals from that, but I am not sweating over sending 5, 000 mailers and not getting a deal.
You start sending for big land and big land only. You're going to go five, 10, 15, 000 mailers at a time sometimes and not get a deal. But let's say it takes 20, 000 mailers to get a deal. That's 000 of expenses with mail and data. And then these profits are six figures, but like at scale, it works at scale.
It works. And that's what it is hard to conceptualize. Honestly, guys, it's not like it's something that's easy to spend five, 7, 000 on mail. And then it take that much money, time, whatever it is. It's hard when you spend three, 4, 000 on mail, then you get a rinky dink deal. But when you spend, that's our business model right now is spend a lot of money on mail, send a lot of mail, get a lot of leads, big leads, then close them every once in a while, not every once in a while, but you know what I mean?
Um, scale up from there. Big deals like that is. Think bigger, do bigger. That's kind of our focus. And then, like I said, partnering, hands off partnering, less hands on partnering with our members on their deal deals, being the investor side of that. And that's how we are scaling our land investing business.
Other than that guys, hopefully that was helpful for you guys. If you have not already hit the subscribe button below really helps. If you guys are watching on YouTube, if you guys are watching on Spotify or Apple, please share this with one person, make an Instagram story, make a TikTok story, whatever it is, tag us, tag this episode.
It really helps us push this mission forward. Everything around land investing. Other than that, thank you so much. We'll see you next time. 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.
Watch the Full Episode Here
https://youtu.be/r2TowY2H81g
