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Land Investing Online

Student Plans to Hit $1 Million in 2024 by Flipping Land

In this episode, the Apke Brothers Daniel & Ron are joined by guest and student of Land Investing Online, Matt Pamfilis!

Matt reveals his reasoning behind his decision to move from wholesaling to land flipping.
There were two major reasons for his career switch:

1.) Ability to be creative using the land flipping business model.

2.) The increased profitability and creative opportunities in the land flipping business model.

When asked about his future financial goals, Matt shares that he intends to hire more employees and reach a million dollars in revenue in 2024.

He also plans to start adding additional cash flow from notes to his investing portfolio! 

Matt has been a valuable member of our land investing online community, and we are thrilled to see him taking such great advantage of the lucrative land flipping industry.

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Listen or watch the full episode below ⬇️ to get the full breakdown of how Matt started out in Real Estate and how he plans to profit $1 Million in 2024 through land flipping!

Listen to the Podcast Here

View Transcript here

Ron: Daniel, I talk about this a lot with you. It’s like, you like, you’ll find like diamonds and shit, like in a pile of turd, you’ll find like diamonds in there. How is Matt subdividing this property? And then it works out

Matt: like, and I guess it took me some time to realize this, but you can be more creative with this.

It’s just having like more tools to the tool belt real estate. It’s not like that creative or like

Dan: On the member success in the discord channel, I remember you saying like. Had a rough start the first six months, but then got through it, hit my first six figure month. And this was like in November.

Ron: We’re a week, two weeks into 2024.

What are your goals for this year? I know you have big goals. What, what do those look like?

Matt: On the back of my bones on the ground. So I can’t show you, but I’ve had like a hundred thousand dollars a month, like subconscious messaging. So a million dollars a year is the goal overarching.

Dan: What’s after a million dollars.

What are you thinking? Like, you’re not just going to stop there, right? Hey everyone. Welcome back to the real estate investing podcast. Today we have our host Matt Pamfilis on here live in Tampa, Florida and the topic today We’re gonna talk about transitioning from wholesaling to land flipping Matt. How are you doing today doing great?

Matt: Nice to meet you guys. Finally in person.

Dan: It’s good, man Give us a brief update. We’ve interviewed you two or three times now, right?

Matt: Yeah. Yeah I think this is our third time

Dan: Give us an update on what’s going on since our last interview

Matt: Last interview a couple months ago Where are we from? I think we had a couple of sub device going at the moment or at that time.

We’ve since sold them. Um, we got rid of a lot of our inventory that we had, uh, from last year. I’m trying to get more inventory in the pipeline. Uh, we’re working on a few. Uh, one more subdivide, a few double closed transactions. Um, yeah. Um, actually, yeah, that’s all, that’s all we’re working on right now.

We’re kind of slowly, but surely, um, starting to like work on doing our own deals, funding our own deals and implementing double closing, uh, just to kind of increase our profitability on deals, but yeah, things are going well. Right now. Do you have any employees now? Um, we actually just onboarded a new VA this week.

So, uh, he’s going to be responsible for like SMS management and doing preliminary market research. Uh, and other miscellaneous like data entry type things. Um, but I’m definitely looking to hire some more people this year, uh, looking to bring on like a transaction coordinator type role to handle, uh, like deliverables in a sense.

You actually, I think made a podcast on this the other day and I was, it was very impactful of like a person who’s responsible for, uh, helping with our listings, putting deals, uh, under contract with buyers and more so like a customer support role. Um, and then another. I want to make this year is going to be somebody who’s responsible for our marketing, uh, as it relates to like the data side of everything.

So those are two hires that I want to make later in the year, but yeah, we’ve got a, a virtual assistant who’s full time right now, who’s getting trained up to be, you know, We’re onboarding him this week.

Dan: Very nice. You said subdivide, are you getting more into it? Like what’s, what’s the deal with that?

Matt: Uh, that particular deal was just a mailer that got returned and it was like a perfect subdivide fit. It’s like buy for 61. And I think we’re going to sell, I mean, we haven’t closed yet, but, uh, we’re going to sell for around 140, I think. So with that particular deal, I actually am trying to. Um, pre sell one of the lots so that I can close on this with my own funds, immediately resell the lot so that I can like reduce my cost basis to where I’m into the deal for only about like 10 to 15 K and then sell the other two lots because that will allow me to not have to take on a funder.

So yeah, make up like end up making like 70, 80, 000 instead of, um, you know, 40, 50. But yeah, that’s, I’m trying to do more subdivides for sure, but, um,

Dan: yeah, yeah. And it’s cool to see your journey there, but I want to bring everyone back if they haven’t seen your first and second episode about your infill lot experience, because that’s where you came from.

You came from wholesaling infill lots, right? Yes. So let’s talk about your experience with infill lots. And I want to focus on that for a little bit and kind of transition from there to the rural vacant land like you’re doing now and some of the differences. And I want to kind of touch base because flipping infill lots and wholesaling infill lots is much, much more popular than.

Flipping vacant land. In my opinion, there’s just more people doing it. It’s more competitive in these markets. So I want it to attack there. Like talk about your infill lot experience.

Matt: Yeah. So, uh, in order to kind of tell my journey, I need to go back a couple of steps. So I was doing a single family wholesaling and then I was.

Um, I didn’t properly plan my marketing that week and my VA needed more, uh, you know, marketing material. So I just pulled a list of vacant rural land in six counties. It was tax delinquent. We ended up pulling like six deals out of that list, which was a ton of the time. Um, and then I kind of dove deeper into infill lots as a business model and 2022 we kind of honed the process and I did 39 deals, which.

Uh, you know, it’s a good amount of volume, but our average profit per deal was, I think, 4, 500 and change. We have to do a lot more volume to make that make sense. But I mean, that, that worked out great, you know, doing infill lots. I had builders that I was working with. We had markets that we were, we were in that were pre established.

And then for me, at least interest rates rose and I just found it very challenging to continue doing deals like builders stopped buying. The price has decreased substantially. Uh, sellers still wanted, like they wanted more, uh, for their asking prices. So I personally just found it very challenging to like continue to do, to do deals.

So I was looking for a new, um, you know, business model, um, as I, you know, needed to make money. I don’t have another job. So, you know, real estate was what I was doing. And then I transitioned into like, I found your guys course. Um, and I mean, it took me a while to get going. I got some deals quickly after starting, but.

You know, my thought process was, okay, let’s maximize the value on these deals. Like I’m, I’m looking at a, when I got these, uh, three deals, uh, they were in, you know, Tennessee and, you know, we thought that we could sell it for X price. Uh, and I was like really married to that number. Um, because going from infill, infill lots, uh, the builders, they would usually like set a price that we, that they would be willing to pay.

So I thought it was similar to Like retail buyers. Yeah. Um, and I was trying to price it like 100 percent of the market value, uh, which I think was, you know, not the right move. So I made a shift in the business where we would price lower, obviously to, you know, quickly sell deals, which I think you guys teach that as well.

But I was kind of like married to the idea of trying to maximize our profit instead of like doing a higher volume of deals. So after we made that shift and started to get more marketing out, we started to get a lot more deal flow and. Towards the end of the year, I mean, once everything was said and done, our average profit per deal this year was about like 25, 000, so like almost four times or whatever that comes out to like four or five times higher than, uh, you know, infill lot.

So

Dan: the same amount of work, less work, more work than the 4, 500 profit?

Matt: A different level of work. I would say like infill lots are easier because like if you have, you know, a builder right here and you have a, uh, lined up right away, you can line up very quickly, get deals done in like under 30 days. Some of these deals.

Like the rural land deals, they take longer, but like the profit, it makes it worth it. And if you just line up more at one time, you know, you can have several closings in a month where you can make, you know, 75, a hundred K in a month, as opposed to like, if you tried to do that with infill lots, it’s so hard.

Dan: Yeah. Yeah. Yeah. Kind of reminds me of the, uh, uh, desert squares that everyone used to do back by for 2000 sell for 6, 000 in it. You could get such a high volume to make six figures. What do you need to do? You need to do like 50 deals, you know? So it just, it’s a lot of moving parts and pieces for not that much.

Ron: Yeah. I remember Matt, the consultation I had. So we do consultations obviously before we have members come in and You seemed hesitant, I think, like what sold you on this business model? Cause I remember the consultation. I know exactly where I was in the consultation. I was walking around my basement, pacing back and forth, talking to you on the phone or whatever it was, but, uh, what kind of sold you on this business model?

Was it, uh, was it the margins, the potential, or were you just kind of moving away from something that you knew wasn’t going to work long term?

Matt: Yeah, I think that I knew it wasn’t going to work long term and I wanted to create a more sustainable business. Um, it’s also like you guys talk about this, like blue ocean strategy.

Like, I don’t think that there’s a lot of people doing this compared to infill lots. So like there is the aspect of like less competition being like an early adopter in a sense. So that aspect of it, um, I think it’s more scalable with like building a longer term business. Another thing is that. Well, the reason that like I was sold on like making the transition was first off, I probably listened to 50 of your guys’s podcasts before doing anything.

Yep. And like, I’ve bought a lot of courses, so I feel like I can kind of differentiate between like good and bad products, if you will. So after having watched a lot of them, like having the call with you, I was already kind of wanting to move forward with this. Um, but like another point of this business model that.

Sold me, I guess, is that, and I, I guess it took me some time to realize this, but you can be more creative with this with, whereas with infill lots, there’s one single exit strategy with what we’re doing, there’s several exit strategies, so like, okay, you can sell cash, you can sell like owner financing, you can subdivide, you know, you can do a lot of different things you’re doing all of right now.

Yeah. Yeah. So it’s just having like more tools to the tool belt. Okay. Where, you know, we can be more creative real estate. It’s not like that creative of an industry unless like you’re developing or doing some interesting project. But like this offers more creativity, um, which I like.

Ron: It’s not like you’ve been doing this a long time.

Like, is it a year? Have you been doing this for a year? I think just over a year, just over a year, like in this year, third time on a podcast, you’re killing it. Um, what are your goals like going into 2024? What are you like? We’re a week, two weeks into 2024. What are your goals for this year? I know you have big goals.

What, what do those look like?

Matt: Yeah, so the overarching goal is to hit a million in revenue, um, which on the back of my, my phone’s on the ground, so I can’t show you, but I’ve had like a hundred thousand dollars a month, like su uh, subconscious messaging. Yep. So we’re gonna, and really it’s only $85,000 a month.

So, um, anyway, uh, a million dollars a year is the goal. Overarching. Along with that, there’s gonna be some hires that I would like to make in order to delegate certain processes. You know, other things I don’t necessarily want to do, like, like I said earlier, hire a transaction coordinator, uh, like a data person.

Um, and then I would also like to add in some, uh, notes into my portfolio this year, like five or 6, 000 a month in notes, just cause you know, if we find a deal that has, we can get into it for a very low, or if we can reduce our cost basis on certain deals that just come into the pipeline, that makes sense is, you know, let’s just buy this ourself and resell it on financing.

Um, you know, you can make a thousand bucks a month off of this deal. I’m going to consider those, um, instead of just flipping everything. So a million dollars a year or this year, and then like five or 6, 000 a month in a cashflow from this.

Dan: that’s, that’s different. We don’t hear that a lot with the cashflow.

That’s cool though. With the, the note cashflow, what what’s after a million dollars. What are you thinking? Like, you’re not just going to stop there, right?

Matt: No, definitely not. I mean, we’ll see. I think that again, this kind of comes back to the whole, like. Scalability. And if you think about like infill lots, it would be really hard to do a million dollars a year flipping infill lots.

I think it’d be really hard, not impossible. I think it’s definitely possible if you incorporate deal funding, but I think it would be harder to do a million dollars a month with just this business model. So like implementing larger subdivide deals and like doing entitlements, like you need to do that in order to get like a million dollar profit per deal.

Right. Um, I mean, there’s obviously outliers to that, but. Like, I’ve heard some crazy stories about people doing entitlement deals and making, you know. Eight figures on deals. So I would like to get into that space. Um, so that’s like, that’s longer, longer term, not really super well defined goal yet. Yeah.

Ron: Makes sense. That’s the cool thing about land is like, it’s just, you say blue ocean, you, you, you said that this episode and it’s just the opportunity. That’s what I always tell people when you’re coming in like, yeah, we teach buying and flipping buying as is flipping as is. But then you get into entitlements, subdividing and all these things that you can make six figures on an entitlement is tiny.

Like, seven figures is a very normal entitlement profit. Dan, from your perspective, like, cause Matt’s been in the program for a year. We’re very close with him in terms of talking to him quite a bit. Like what’s separated Matt from the pack in terms of how he’s taken on this program and where he is today?

Dan: That’s a really good question. I think just the aggressiveness of, uh, you coming in, knowing what you want, knowing how to get there, following through with it and not giving up. Cause you said you had a slow start, like on the member success in the discord channel, I remember you saying like, had a rough start the first six months, but then got through it, hit my first six figure month.

And this was like in November, right?

Matt: Uh, I think it was last month or December.

Dan: Yeah. So you hit it. Yeah. So, and you just put that in there. And I think that’s the main thing is a lot of people come in. They’re very shy. They’re shy with their marketing, their mail, their texting. They’re just really timid I’d say.

And I think that’s the difference. You are already doing this with info lots. You already knew real estate worked. A lot of people coming in aren’t, don’t have that, uh, proof of concept either yet. And Matt just was completely bought in, stuck with it. And you have such a growth mindset. Like before this, you were talking about.

Uh, traction, right? The book traction and implementing all those things. And when you’re thinking like that and you have that mentality, of course you’re going to naturally scale. Like it goes with the, there’s not a lot of people thinking like that. It’s the 1 percent of the 1 percent essentially.

Ron: You’ve always looked at it like a business and not like maybe this is going to work.

It’s always like, I’m going to make this work. Uh, I guess I’m going to kind of ask that same question to you, Matt. Like, what do you think you’ve seen people fail in this business? People not make it your, I don’t think you’d call yourself the smartest person in the world or the top 1%. It’s just what has separated you and made you successful in this business?

Like what’s the one, two, three things that you’ve done?

Matt: Yeah. I would say like, you don’t need to be humble either. No, I would say, uh, the marketing aspect for sure is like a, I feel like that’s just something that’s reiterated constantly of like getting marketing out there. But like it can be really hard to do that and like manage cash when you’re starting out.

Cause it’s like, okay, how do I, if there’s like a couple of slow months, like how do I maintain enough cash to like, you know, have this same amount of marketing go out every single month. So trying to like come up with a plan for marketing is a big, uh, important thing. Um, and I feel like at starting a business, like having a high propensity to pain and like just being rejected all the time.

That’s an important thing. And then what would make me successful, I would say like strong negotiating. Yeah. Like I don’t care if somebody is going to tell me no, like I really don’t care if I’m going to offend somebody with like an offer, like I’ll offer very, very low and like, what are you going to do?

Say no. It’s like, I don’t care. Like we’ll renegotiate from there. Um, so yeah, I think negotiating has helped. A lot on everything. Like I’ve, I’ve negotiated like on every single property that we buy, even if it’s like a signed PA that comes back, like I’ll look at it. I mean, not that’s not entirely true because I just accepted an offer that we.

Locked up, but like being really good at negotiating. I think it’s helped me. Yeah. Um,

Ron: The one Dan that uh, We we gave it Matt an assignment fee. I think it was he’s like, yeah, I’m under contract for 23, 000 Can you give me 7, 000 or something? I’m like, yeah, we’ll we’ll match it at 30, 000. We went back negotiating He tried to negotiate with me.

I won that negotiation, obviously But then I looked at the PA later and like he talked the guy down to 18 So he ended up making 13 14 thousand dollars on the assignment, which is fine. Like we got the same deal And we bought that deal for 30 and sold it for 60.

Dan: Did you know that? We sold that one for 60?

Matt: I think so. Yeah, I ended up, I think I ended up negotiating down, uh, I made 10 on that

Ron: Yeah. But I mean, you made money in negotiated. That’s the-

Matt: I tried to negotiate coaching, I think is what it was. Yeah.

Dan: No, I’m trying to get coaching. We couldn’t overlap the two because that’s the investment business where we actually fund the deals.

And then the coaching is like the educational and we try to keep those as separate as possible with that.

Matt: But the worst thing you say is no. Yeah,

Ron: Dan and I, Dan and I talked about this a lot with you. It’s like you like, You’ll find like diamonds and shit, like in a pile of turd, you’ll find like diamonds in there.

I’m like, how is Matt subdividing this property? And then it works out like that one triangle property. Like you just find diamonds in places that a lot of people wouldn’t look like, or they’re just not willing to negotiate whatever the situation is. And that’s, I think it’s made, made you such a good land investor.

And I think it really will lead a good future.

Matt: That, um, that property, the triangle one, I didn’t even get that lead. That was like the neighbor’s property. Who was like the nephew. Of the owner and like they own a ton of land in that area. So I was just like talking to referral. Yeah. He owned, he’s like a private equity guy and his wife or his wife’s private equity and he’s something in it.

So I was like, Oh, this could be a funder. So I just like had the conversation. Cause like, who knows? And then his. And sold me that property and I tried to buy his mom’s property across the street. That’s 50 acres. That’s double sided, but she signed a contract to like sell the timber. So unfortunately that didn’t work.

Dan: I got a question for you. So you just hired another VA cause yours quit, right? Yeah. That’s what you’re saying. I showed Matt last week about the IQ on onlinejobs. ph. The IQ. Did you use that while hiring?

Matt: Yeah, I think his is one 25 too. There has to be a discrepancy

Dan: 125 is common to see

Matt: So common.

Yeah. I don’t know how they like determine that, but it’s, I guess a good sign.

Dan: So on onlinejobs.ph , where we hire a lot of our virtual assistants in the past, um, have had a really, really good success there. Matt and I met last week. We kind of went through everything and I showed Matt a hundred, uh, they have an IQ score on the online jobs from the people that come and, uh, are looking, are seeking for jobs.

And it was just a interesting thing we talked about last week. It’s kind of wild how they put that on there.

Ron: We just had someone start yesterday and like the capability of them. It’s, it’s pretty cool. I don’t know what you’ve seen so far with your, and just, it’s a cheap, like anyone hangers.

Matt: Uh, five 25 an hour.

But he negotiated. We talked about that too. He like, I sent him a low ball offer and he renegotiated, which was cool to see. Cause like, yeah, values himself. So I liked that.

Ron: Same thing with ours Yeah. Same thing with ours. But, uh, yeah, don’t miss a payday. And then they’ll, they’re, they’re like, yeah, they, you can’t miss paydays with them.

Uh, they’ll, uh, they’ll get on you for like, did you send that? Did you send that? But, uh, yeah, I mean the, uh, the capabilities of what you can do. And that’s what a lot of people don’t understand. It’s 5. 5. An hour. What is that? 200 a week, 800 a month. And you can get a legitimate, like added value to your company.

And like we talked about on that episode last week, like take away low level tasks from your business. I think that’s what you’re kind of moving towards.

Matt: And my guy, he’s got like 15 years of experience in real estate. I don’t know how, like he has that much experience, but like, yeah, he’s super high level.

Yeah. Cool. Which is cool. Yeah.

Ron: So going from there, Matt, like you’re trying to take on bigger deals. What’s your strategy? Yeah. Yeah. Strategy like is it has it changed a little bit since you’ve like you’re talking about a hundred thousand a month this year And I think you’ll hit that pretty like I think based on where you’re going you’ll hit that but um What’s your acquisition strategy changed or evolved over the year you’ve been with us?

Matt: Yeah, so in terms of like marketing it hasn’t really changed too much. I mean, I’m just I’m getting more marketing out. So our goal for this quarter is 22, 500 for the quarter. So 7, 500 a month in direct mail pieces, along with SMS marketing. Um, I’ll likely implement cold calling this, uh, this quarter or next quarter.

My current VA, he wants to like build out that for me, which is, he wants to build out a cold calling team for me. So that’s pretty cool. Yeah. He’s like pretty excited about it. I’m like, dude, let me onboard you first and then we’ll talk about that. Pierce to seal that one plans out. Yeah. Uh, and then, so not really anything different in terms of like what we’re targeting.

I’m trying to do bigger deals. So anywhere from like five, depending upon the county, five to 10 as our, uh, like our acreage range to start all the way to a thousand. Like I’ll always do a thousand cause I want to, you know, look at a assigned PA for 850 acres, which hopefully will happen sometime, you know.

But yeah, something I’m doing now, which I’m kind of validating this as a feasible option, but putting a deal under contract and giving myself some more time, like 30 days due diligence, 60 days to close and trying to pre sell the property. Um, because then I can just double close it and like not have to get, take a funder on it.

So like. With pricing, accordingly pricing competitively, we can, um, you know, sell the deal more quickly, uh, which, you know, I’m, I’m trying to decrease our average days in inventory as well, which it’s currently at like 128 days, uh, average days in inventory, which is in my opinion, too, too long. Yeah. Um, so I’m trying to decrease that by pricing competitively and doing a double close, uh, transaction.

So, I mean, that would be my biggest shift, which I really like just implementing now. But yeah, that’s, that’s, I would say our biggest shift.

Ron: So what are your thoughts like on this business model as a whole? Cause we, we hear people all the time, like complain, like I had 3000 mailers, not work. I didn’t get a deal from 3000 mailers.

And I had a coaching call with someone today, like you’re going to have months where you don’t get a deal on five, 7, 000 mailers. It happens. What are your thoughts on the business model as a whole going forward, 2024 and beyond?

Matt: I think it’s going to still work for sure. I mean, I don’t think. It’s real estate.

Like people are always going to buy and sell real estate. I’m seeing a ton of people with, with cash right now, which is surprising. Like most of the deals that I’ve sold lately are all cash offers, which I love cause you know, we make the most on it and it’s the easiest to work with. Um, so I’m not really seeing anybody and buyers pull out of the market from, you know, what we’re doing.

But I mean, there’s still ways to sell deals. Like if you want to sell a property using owner financing, you can sell that note on the backend and still, you know, Make money on the deal in terms of like flopped mailers, like that’s from what I’m seeing now, like trying to get more volume out, I’m not really even concerned with a single mailer.

I just realized that over the course of, you know, 3 to 6 to 9 months, it’s going to average out to look at that coming in because you’re trying to maximize your money as much as possible. But like, if you look at it more from a business standpoint of this is the total amount of money that I’m willing to risk.

Or not risk, but like I’m willing to allocate towards this opportunity. It’s like you can have KPIs to like see what the return on that money is. Um, and like, yeah, you’re going to have flopped mailers. That’s like always going to happen. But. You know, just getting enough volume out there, you will get a deal that will, you know,

yeah. Pay for everything.

Ron: Do you think it’s a mindset thing, Dan? As far as like, I don’t know. Cause I, as far as like you understand, some people come in with five, 7, 000 and it can go fast. Like that money can go away fast with mail, really fast. You need to take sales extremely seriously when you’re in this business and you’ve done a good job of that, Matt, but what’s your thoughts on.

That mindset as a whole Dan, a lot of people, even experienced people like, okay, I had 3000 mailers not work. What are your thoughts on that?

Dan: Well, that’s just not enough sample size really to look at anything. I don’t think, but also you got to understand, like, I don’t like to overanalyze, but also you got to make sure you’re taking care of every lead because what’s the cost of a lead at the end of the day?

Not a texting lead, actual mail lead and a mail leads 200 bucks almost. Right. So you got to look at, and that’s what we talked about earlier. Like Ron said, it’s like finding diamonds in a piece of shit. Right. You got to look at every single lead and take it very, very seriously. And I think a lot of the people who fail or have that mindset aren’t the sales driven people and 3000 mailers at the end of the day just isn’t a big enough sample

Ron: it’s just like, yeah, you just need, you cannot take leads for granted. Like being an entrepreneur is not an easy thing.

Dan: The aggressive people usually win. They’re 100 percent and that’s what, that’s the consistency we see.

Ron: They find ways to make deals happen instead of waiting for the deals. Like there’s a time when you could just send 3000 mailers and you’ll get two deals and it’s just gonna, it’s not.

It’s not going to be like that all the time. Like some mailers are going to be like that, but other times, like you need to work to get deals. And if you take these calls for granted, I think that’s when you really lose the, uh, you just, you’re going to have failed mailers.

Dan: And people look at the ratio rather than the ROI too much.

I think also, yeah, because like if you send 5, mailers, but you’re getting a hundred thousand dollar. Uh, you know, your average profits a hundred thousand dollars. I take that all day, but all of a sudden, like Matt was saying earlier, his old, uh, probably used to be 4, 500 then things, if you’re taking two, 3, 000 to get there.

But obviously the ratio kind of balances out, but I look, you got to look at ROI on your mail spend and your advertising marketing in general, rather than. The amount of letters it’s taking to get a deal. I think that’s a bit, one of the biggest things.

Ron: How many deals did you do last year, Matt?

Matt: Uh, I think we did like 12 deals and we did like 208, 000 in, uh, revenue from this business model.

Uh, I had some other stuff closed in the beginning of this year. Uh, and I did a few single family deals last year, but, um, yeah, I think it was nine deals that we had, uh, that we got funding on and I did a couple assignment deals, which I don’t like. Totally, uh, you know, encapsulate into all of our revenue, but based on the deals that we got funding on, I think our average profit was like 24, 000.

Yeah. So we did a low volume honestly. And how much mail did you send? Do you know? I’d have to look at my, uh, maybe around like 35, 000, which was honestly like, and

Ron: that’s a crazy thing, Dan and that 200, 000 Matt’s talking about is not talking about mail. It’s not talking about the deals that are closing this year as well, that he’ll make money on that mail.

So he sent 35, 000 mailers 20, 000 of expense and he made 200, 000. And that’s, I was talking to someone earlier today. I told him you sent spend 20, 000 on mail. You make 200 grand, you spend 10, 000, you’ll make eight 90 to 110. And it’s just always 10 X’s. And those are exactly Matt’s. Numbers. He spent 20, 000 made 200 grand.

Dan: And one thing you’ll see when you scale to the ratio is gonna eventually, like when you start outsourcing salespeople, marketing data, you’re not going to see as good as a ratio as you’re getting now, because you’re doing the work you’re following up, you’re doing the acquisitions, you’re doing everything.

I feel like for a little bit longer, you’re going to see a better and better ratio come, but eventually as you scale, like that number does have, um, it’s kind of like ads in general, like the wider you go out. The worse of a return you see. And I feel like it’s the same thing with this once you start scaling and hiring.

So I’m curious to see how that pans out as you hire your TCs and hire everything else. When you’re not in full control of every single aspect.

Ron: Yeah, exactly. Yeah, I think at scale, everything’s gonna, but at scale, you’re going to make more money when you send more mail. It’s just things will slip through the cracks.

Um, it’s just a matter, but I think Matt should be the person that’s doing sales for his business for quite some time. Absolutely. Um, I don’t have anything else though, Dan,

Dan: let’s wrap it up there, Matt, thank you for joining today. Yeah. Thanks for having me. Any last comments you got for the fellow land investors out there?

Send your mail. I like that. I like that. Well, as always, guys, thank you so much for joining today’s podcast. Please like, and subscribe our YouTube channel. It really helps drive our mission. 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.

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