Totally. But it has to have some sort of cash flow to offset the taxes otherwise you're speculating. Ideally, a cell tower or some sort of oil and gas lease because those would provide a solid return in and of itself.
Great Video. I have been spending months (since last summer) going through each individual step in your land flipping lifecycle blog post, additional blog posts, and videos to learn and practice each step to get a general overview of the land business. I plan to start a land flipping business this summer in Canada as I reside there. Thank you for all your helpful resources and blog posts you have put out. It has been very helpful for me.
you prolly dont give a shit but if you guys are bored like me atm then you can watch pretty much all the new movies and series on Instaflixxer. Been binge watching with my girlfriend these days :)
Can someone please tell me How do you find the people to send your mailers to? I guess im having trouble understanding how you find the people to make offers to??
Wonderful video! I’d love to hear you talk in detail about how you do your due diligence. Do you happen to already have a video about this? Thanks again for all the useful information!
You did not talk about how much a property could cost. You could have given an example of the property u bought. Do you buy cash? Do u buy in installments? How can you make money by instantly flipping them and not waiting for the property to appreciate. Can this be done part time with a full-time day job?
@@ShowBizJunkie look for people behind on their taxes. Most likely they don’t want it, make offer 30% of value. Most people say no, some say yes. Buy it , then sell for market value. (Very dumbed down so I don’t have to type a lot)
Interested in learning more about the valuation process of vacant land. Any resources you'd recommend? Do you do paid coaching calls? Currently execute alot of SFR wholesales/flips/buy&holds, looking to foray into land.
That's a great question, and one of the bigger challenges with land (not insurmountable, though). I've actually got a couple big blog posts about this subject, you can find them here: retipster.com/valueofland and here: retipster.com/vacant-land-valuation
I do both, actually, depending on who I'm mailing to, how much time I want to put into exploring each lead and how much money I want to put on the line for each campaign. You can see some examples of both. Here are the postcards: retipster.com/postcards and here are the blind offers: retipster.com/blindoffers
@Marc Tonzillo in cities or built-up areas a good rule of thumb is 20% of the sold values of houses in the neighborhood where the plot of land is. In more rural areas, 3%-5% of the tax assessed value is a good starting point.
Hi Seth, do you know of Jack and Michelle Bosch??? Could there Land investment program possibly be worth the $40,000.00 dollars they ask??? After seeing your detail which is by far more detail and info than they share! 40k seems like that is overpriced. Please respond. I am totally totally doing homework on programs and am ready to crush it! I have flipped a few homes and wholesale a couple homes. I am familiar with good amount of this.
I bought a pice of land for 35k, I invested 20k on it, “ installing a driveway, clearing the building area”, I’m selling it for 68K, Question???? How much will I pay in CAPITOL GAIN TAXES?
The best part? You can skip the entire concept of utility. You can buy impractical, undesirable land that lacks location-relevance and speculate there's someone in the market that you can resell it to for more than you paid (with enough margin to cover all your marketing, time, and transaction costs to acquire). This is a classic flavor of content RIPE for guru hustling and general help selling. The key to making money flipping dirt is making look-worthy content, or scalping on "shipping costs" for a book. It's a hope hustle, like all the guru grifts, the dream of wealth, prosperity, and financial freedom for those with little to no skill, depression, debt, and all the other attributes needed to trigger with hope.
i really want to get started, but i cant seem to get past feeling worried about not getting paid. Do you have any videos, blog posts, or materials i.could read/review in regards to the repo process?
Are you talking about if you offer seller financing and need to foreclose? You could avoid this scenario by just selling for cash and not offering seller financing in the first place. Or you could do some basic underwriting (get a credit report and larger down payment) to lower the likelihood that your borrower will ever default, and even if they do, you can hire a foreclosure attorney to get the property sold at auction or repossessed. There are plenty of ways to overcome that problem or avoid it altogether.
Hello Seth! Very concise video! I had a question about how you gauge the potential interest in a plot of land though. My concern would be to get one and it sit forever because there is minimal activity in the area. Thank you!
Thanks, Aaron! That's a totally valid concern. We've actually got a blog post that addresses this a bit, you might find it interesting: retipster.com/market-research
Hi Nostahlgia, good question. I put together a pretty detailed answer about that on our forum. You can see it here: retipster.com/forum/topic/60/blind-offers-or-postcards/5
@@Retipster Seth! just wanted to thank you for the blog and the videos . I've got some cash set aside to start my businesses and start making deals within a couple months . I'll be sure to come back and to you how your work has helped me
Yes, coaching is a very expensive and time-consuming endeavor for both the coach and the client. For most people, the course is a more cost-effective way to go.
So let me get this straight…. you're saying just send out junk mail with a low ball offer hoping to find a literal 1 in a 1000 sucker? Got it. The problem I see is that this is way more saturated than you suggest. I have 4 properties in colorado and i get offers--sometimes several offers--every time i check my mail. I probably get 100 pieces of mail a year for these properties. These same properties I bought in a tax auction 12 years ago and nobody even bid against me! Lots and lots of people are piling into this, and all I had to do to actually get 4x the money of these offers with no work was call a realtor! So you're relying on idiots who don't know how to call a real estate agent. Why don't you try making an honest living for a change? 🤣😛😎
What I'm saying is your entire business model seems to be finding rare idiots via junk mail and then low balling them. But the problem is that lots of people are actually doing this now. You are literally competing with a bunch of other people to sucker the same few morons that can't pick up the phone and call someone who can sell their property for 2-4x what you pay. It's never been easier to sell properties than today. I say morons, but that's kind of mean spirited. My guess that it's mostly old people and I feel sorry for them. I wasn't mentioning my properties for kudos, but rather to say that it's not just desirable properties that get this attention, but stuff that 12 years ago literally nobody wanted. Now, like I say, I probably get 100 pieces of junk mail from people like you in a single year. Why not just make an honest living? I'm not saying give up on real estate, but do something that actually creates real value. Ironically, in an age where people generally have no real skills it's kinda easier to make a real product or provide a real service rather than going against every other schemer and scammer who can't do anything worthwhile.
Most land owner they are more smart than you , they getting offer every one min from 1000s buyer and investor and the owner give opportunity for most of them , when the owner find out that his land not gold and its really dirt then they will take your offer and give you this dirt , FYI : all owner they own land they are more hungry for money than you and us ... my advice for everyone is Go the the Auction cuz its get out of owner and gov selling it ..
Interesting insight. I actually had the opposite experience when I tried bidding at a lot of county auctions last year. Auctions bring in *a lot* of competition and makes it very hard to get great deals (unless it's a property that nobody wants, which means there's an obvious problem with it). You can see what I found with that strategy here, in case you're interested: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-awWEkeoQCb4.html
You’re not actually doing anything? There’s no development or improvement of the land. This is so lame. It’s just arbitrage. The only potential value you offer is seller financing.
