In the last two or three years, my boys and I have flipped 35 vacant lots all across the country. Land has its own complexities, but it’s still so much easier than houses. And that makes it easy for beginning investors. Casual Fridays REI hosts Justin Sliva and Adam Southey are dropping golden nuggets of investing on how to dial it in and specialize in flipping vacant land no matter where you’re at in the country.
The volume of people trying to buy land right now is off the hook. Justin and Adam are seeing properties sold in a week, and there’s a bottleneck with the title companies. These smaller towns just don’t have the capacity to keep up with the sudden influx of sales. Driven by what we might call “pandemic demand”, urbanites are looking for a place to go off-grid to get away from it all.
Justin and Adam have focused their business model on what they call “bass boat properties”. They buy and sell 20-acre lots for an average price of $33,000, which puts the property at an accessible price point for someone who’s just looking to get away for the weekend. And they’ve found that partnering with a Realtor who has great ads is the best way to find a land-specific broker who’s willing to walk through a wooded lot up in the mountains.
Justin and Adam talk marketing with me, plus how to figure out when you have enough land inventory to leave your day job behind. Check out their podcast Casual Fridays REI for more conversations about land investing.
Watch and Learn:
Listen and learn:
- They love the 20-acre lots, which is just enough land for someone who loves to go hunting or fishing.
- How Justin and Adam develop a working relationship with local Realtors and brokers who make their virtual wholesaling so much easier.
- If you wanted to quit your job, Justin and Adam talk about what it takes to get to that point.
- Justin and Adam’s favorite tools for figuring out how much a property should be worth.
Mentioned in this episode:
- Casual Fridays REI Podcast
- Coffee Money Real Estate
- CasualFridaysREI on Instagram
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