The Old Way of Land Investing Doesn't Work Anymore

In this episode of The Real Estate Investing Podcast, Ron Apke interviews Dave Denniston, a longtime land investor, financial advisor, and host of the Land Unconference. Dave shares how he first entered land investing in 2017 by buying inexpensive desert properties and eventually built a portfolio of roughly 500 owner-financed notes.

As his experience and risk tolerance grew, he transitioned into larger cash flips, but eventually found himself running a complicated operation with a large team, rising inventory, and marketing costs that were eating into his margins. After sending as many as 50,000 to 60,000 mailers per month and seeing strategies that once worked become less effective, Dave made the decision to dramatically change how his business operates.

Today, he's focused on fewer states, larger opportunities, minor subdivisions, and becoming much more specialized in the markets and deals his team pursues.Throughout the conversation, Ron and Dave talk about what it takes to adapt as the land investing industry changes.

Dave explains why simply doing more marketing isn't always the answer anymore, how his team reduced a portfolio of roughly 160 properties, and why he's now prioritizing focus, specialization, and better deals over pure volume. They also discuss the growing role of AI, building and managing a team, learning from your own business data, and why investors need to take action without constantly jumping to the next strategy.

Whether you're just getting started or have been investing for years, Dave's experience is a great example of why successful investors have to keep learning, testing, and adjusting as the market evolves.

Watch the full episode to hear Dave’s land investing journey, the major pivots he’s made in his business, and what he believes investors should focus on to succeed in today’s market.