So, you probably know that I do regular wholesale deals and I also LOVE flipping lease options, too…
But I have a new strategy that I’m loving: land deals
I’m way into flipping land now.
In just my first 3 months of doing land deals, I profited $24,000! 🙂
Not too shabby, huh?!
What I really dig about land deals is that they are SO easy to do virtually. Heck, I’ve even coached my students and clients who are overseas to dive into U.S. land deals…
Personally, I think land deals are easier to flip virtually than houses.
What we do is simply get a list of landowners online, from sites like ListSource and RealQuest, and send them all letters…
Then, we send blind offers at .15 cents on the dollar.
So, what we do is research what similar properties are listed for—and our goal is to sell them for half that. I like to focus on properties that are at least 5 acres.
Let’s do a little math…
If a similar 5-acre lot in the same county is selling for $12,000, our goal is to sell a similar deal for $6,000—which means we need to get it for $1,500.
Still with me?
Good… here’s where it gets awesome…
For every 200-300 blind offers we send out on these vacant land lots, we get 1 accepted.
We’re spending $200-$300 on marketing per deal. And we’re profiting $3,000–$4,000—and that’s on the low end.
Now do you see why I like land deals so much?
But there’s more good stuff with this strategy…
We’ve actually been able to sell these land deals pretty quickly.
So, we’ve sold the land to a bunch of different people. Check this out:
- people who want to ATV on their own property whenever they want
- families who want to take a rural vacation
- farmers who are growing pot (it’s a new world, I tell ya)
It’s so interesting seeing the various people who are interested in land.
I’ll leave you with a few more reasons why land has become such a great strategy…
- There’s not a lot of talking to sellers
- Not a lot of negotiating with buyers
- There’s very little competition for land deals
Well, I think I’ve made my case for the land strategy.
I strongly encourage you to check it out and see if it’ll be a good addition to your investing business.
Sure as heck was for mine!