I’ve been flipping land for a very, very long time and there are some really stupid myths out there. The truth is, flipping land is a lot of fun and in the last couple of weeks, we made over $50,000 in net profit. Here, I walk through the most common land investing myths and show you why they’re false. The first one is that you need a lot of money to get started in the business. You can wholesale or flip vacant land and sell it without ever buying it. You can also use private money to fund deals. Another myth is that you need to have a lot of time, which I know firsthand isn’t true. My sons and I have done a ton of deals and only work on our land business part time.
You also don’t have to talk to a ton of sellers. You can use a direct mail strategy and send out cheap postcards or letters directing folks to a recorded voicemail. You can actually wind up getting more calls this way and I’ll show you why. Other myths I bust include that selling land is complicated and that you have to do something to the land before you sell it. If you want more information on how to set up a winning vacant land strategy, head to the link below to get my free nine-page strategy PDF. It’s a step-by-step guide on how to find deals, pick the right markets, and more.
Watch and Learn:
Listen and learn:
- Why you don’t need a ton of time and money to start flipping land.
- Why you don’t need to talk to a ton of sellers to do deals.
- Info on my free strategy PDF.
Mentioned in this episode:
Download episode transcript in PDF format here…
Joe: Hey, what’s up? You know what? You need a lot of money to get started in land investing. You’ve got to have a lot of time. You got to talk to a lot of sellers. No one’s ever going to take your offer at $0.25 on the dollar. Land investing must be really, really complicated. It’s actually a pointless investment because it just sits there. It doesn’t make any money. You can’t buy a property that you don’t live close to. You have to go look at it. You have to see it. You have to do something to the land and subdivide it to sell it. Land doesn’t generate cash flow. Are you crazy? Properties that are listed for sale, those are the only ones that you can buy. And it’s hard to sell vacant land. Who would ever want to buy this land out in the middle of nowhere? There must be a lot of rules and regulations. If land is so good, why isn’t everyone doing it?
Joe: All right. Hey, my name is Joe, and on the Real Estate Investing Mastery podcast, I’m going to be walking through some of the biggest, most common stupid myths that are around there for land investing. Listen, I’ve been flipping vacant land for a very, very long time and I have a blast. Doing it is a lot of fun. We’ve made a lot of money, just did, and I’ve got to be careful here. I can’t make any income claims and all that. But just in the last couple of weeks we’ve made over $50,000 in net profit. That’s not revenue from the land that we sold, that’s net profit after we paid back our private investors, after I paid myself back for the money that we used to buy the deals. Yeah, it’s a great business. I’ve been doing a long time. I’ve made a lot of money doing land, even with my teenage sons. And if you want more information and I’ve got a cool little thing here I want to give to you. It’s called a step by step hundred and $50,000 land flipping strategy in a nine page PDF that you can get for absolutely free. This is the same strategy I use with my sons to flip over $150,000 in vacant land. My teenage sons and it’s a nine page pdf. It’s absolutely free Get it at strategy pdf dot com, strategy pdf dot com and check it out.
Joe: Okay. All right. So let’s talk about these myths. The first one that I want to talk about is it takes a lot of money to get started in the business. And you know, I’ve been doing real estate full time since 2009, part time since 2006. And one of the first things I learned early on and I believe the gurus that said this on late night infomercials are the Carlton Sheets, you know, the Russ Whitneys, who else it was back then, Robert Allen, And then I went to a lot of boot camps and seminars, and I guess I was gullible enough to believe them, but I believed that you didn’t need a bunch of money or a bunch of good credit to actually get started and do deals. And I did a lot of deals. But the cool thing about land is you don’t need a lot of money to get started. You can buy and sell land without ever buying it. You can wholesale or flip vacant land. So two of these deals that we just did in the last couple of weeks of the five or something that we flipped and sold, two of them were 40, $20,000 assignments. So we didn’t even buy the deal. We got it under contract and we assigned it for 20 to $22000 to other investors. All right. So you can do deals now. It helps if you have money. It helps if you have money to spend on marketing, if you have money to spend on virtual assistance. But when you’re just getting started, one of the things I teach in this channel and in my land investing course is how you can actually start doing marketing and talking to sellers and making offers without any money. All you have is a telephone, cell phone. You can make money in this business. You know, I talk about this a lot because if you’re not on the phone, you’re not making money and sales is $1,000,000 skill. This does cost a little bit of money. Right? But you can go to Walmart and get a mint, one of those mint mobile phones or something like that. This isn’t an advertisement for mint, but you can get a cheap phone. We had one student one time when I was teaching houses who actually we were teaching how to flip leases. Okay, he was homeless, this guy was homeless. But where there’s a will, there’s a way. And he would go to the library because he didn’t have a computer. He’d go to the library, use the libraries at the computer, find landlords who wanted help finding tenants, and then he would get on the people at the library and start calling landlords and say, Hey, you want some help finding a tenant? And he started from the homeless living in his car within a few months doing what we were teaching. I did this with a good friend of mine, Todd Toback. What’s up, Todd? If you’re watching this, this is a program called Quick Turn Leasing. All right. This was ten years ago or so, but within a couple of months, he was actually in his own apartment with his own furniture. Now, he told us it was lawn furniture, but he had his own furniture and he eventually bought a new car within about six or eight months or something like that. So where there’s a will, there’s a way you if you think that you have to have money to get started in real estate, you just don’t want it bad enough. You just don’t want it bad enough because if you did, if you understood the power of this thing getting on the phone and talking to people, you would find there are really no excuses. So that’s a huge myth, number one. Number one big myth is you have to have a lot of money to get started. Guys, if you can just make a phone call, what are something you could do? You know what? Go to Redfin, find vacant land or houses that have been on the market over six months and there’s a ton of them. There’s thousands of them and all these different markets and call the realtors and say, hey, listen, I’m a land investor, I’m a house investor, and I’d like to make an offer on this property. Tell me a little bit about it. Why has it been on the. Mark. It’s so long. Why hasn’t it sold yet? Is something wrong with it? What’s going on? Right. And talk to them and tell them that they can represent you as the seller’s agent and then buyer’s agent. When you flip the deal, they can represent you and listed for you and all of that, right? And then you can make offers. Do you have to have money to buy the deals? Now you can use private money, but half of my deals that I do, I use private money. I use private lenders. The other half, I use my own money. So it helps to have money, but you don’t have to have it. If you think that in your head, you have to have money to get started doing deals, you just giving yourself limits. All right.
Joe: The other big myth is you have to have a lot of time. This is something that I just know is not true because when my when I was doing vacant land deals with my sons, my two teenage sons, and now they’re going off to college, then this was probably three or four years ago. Strategy pdf dot com. I show you how we did this all here. And by the way, here, is it okay? Sure. You don’t believe me? This is an actual contract that I did with my teenager son Luke, who’s going to college to be a chiropractor right now. So proud of him. He’s such a smart kid. All my kids are super smart. 5.08 acres in Wilkes County, North Carolina, out in the middle of nowhere, five acres. We purchased this thing for seven, $600, and we sold it for $19,300, made a profit of 11,224 bucks. And we didn’t have a lot of time. We didn’t I mean, my sons were homeschooled. They were working hard. They were having part time jobs. I was doing my other real estate stuff. So you can do this part time without losing your nights and weekends. This is how we do deals and this is why it doesn’t take a lot of time. We sent a lot of direct mail, real cheap mail, and sends people to a 24 hour recorded voicemail. The seller’s and it’s got a letter reference ID on the postcard or whatever. The seller leaves a voicemail a couple of times a week. We listen to all the voicemails and then we send offers. We send offers. We don’t even call the sellers or talk to them. We just listen to their voicemail, send them an offer at $0.25 on the dollar and on average, one out of every 25 or 30, it’s accepted. I’m not making any guarantees or promises. I can do that. And it wouldn’t be fair, honestly, because most people don’t make any money in this business, right? Most people, they buy a course and they don’t do anything with it. So I can’t say that what I’m doing is going to happen to you. I’ve had here’s the thing. Here’s a crazy, awesome thing, like, you can do this without losing your nights and weekends. It’s not that hard. You just have to have the right systems in place and you just got to make a lot of offers. All right. I was going to say that I’ve got a lot of students that are doing a lot of deals right now, and I’ve taught real estate since 2011 when I started my podcast 12 years ago. Now over 1200, 1100 or 1200 episodes or something like that. In fact, this is why I’m going on all these ravages. Sorry, but if you go to ChatGPT and you type in like I just did this last night, this is so vain said, what are the oldest what are the longest running real estate investing podcast? And mine was, I think, number two or number three. And then I asked something about, like what? Who are the top real estate investing marketing experts that talk the most about finding motivated seller leads or something like that? I asked a question about who are the top experts in real estate investing that teach how to find, how to do marketing and find motivated leads for sellers or whatever. And I was up there. I was up there with Ron Legrand. What’s that guy from? Oh, I forget who? A guy from San Diego. Anyway, I was up there in like the top five of these gurus. Anyway, it was a proud moment. Humble brag Okay, so you didn’t have to have a lot of time to do this business. Me and my sons, we did $150,000 doing it very, very part time, a few hours a week. Now, obviously, when you get started, you have to spend more time in the business to learn it. You got to go through the program, you know, But if it’s taking you more like this, I just did a workshop. If it’s and we were talking about this, we were making offers to sellers at this workshop, you know, and we were trying to come up with offers in less than 15 minutes. So when we look at a vacant lot, we say, all right, let’s just look at it. Keep it simple. Don’t need a complicated if it’s taking longer than 10 minutes or 15 minutes to come up with an offer with a seller, you’re spending way too much time because it’s a numbers game and your speed to income is directly proportional to the number of offers that you make. Write that down TV Video editor guys, write that down right here in this bubble text. You know, your speed to income is directly proportional to the number of offers that you make. Thank you, video editing, guys. I appreciate you very much. But so what does that mean? Well, it’s all about the number of offers that you make. So the more offers you make, the more money you make, the more deals that you do So the faster you can get to 30 offers, the faster you’re going to do a deal. So when you learn this business, it doesn’t take a lot of time. You don’t have to analyze RV or the after repair value. You don’t have to know repairs. All you need to do is make simple, fast offers. Think about what would I have to sell this property for? And then you make an offer at $0.25 on the dollar. All right.
Joe: So the other big myth is you’ve got to talk to a lot of sellers, which just isn’t true. I don’t in fact, I don’t talk to many sellers at all. Now, occasionally we do, but what we do is, like I said before, we send out a cheap postcard or a cheap letter which says, Please texter, call our 24 hour recorded voicemail. Why do we do that? Because it gets more calls. Then when they call and leave a voicemail, they get their letter reference ID and we send them an offer just like this. For 25, $0.35 on the dollar. And then one out of 20, one out of 30 depends on the area that you’re doing, except it then sends it back. I’ve done there’s another deal that we did. This was in the middle of nowhere, Florida. If you’ve ever sorry, if you live in Suwannee County, Florida, I have no idea where it is. Never been there. This is a deal that we did while I was on vacation in Colorado at 1.39 acres. We made a $12,454 $450 profit on this deal with a text and electronic signature. See, I can prove it. I wrote it down right there. And you can see I know you can see it, but the signature right here was electronic signatures using Freedom Software tool. We texted the guy, He texted us back, Let’s do it. We sent him an electronic signature contract through Freedom Software and he signed it. So, yeah, you don’t have to talk to seller. It certainly helps if you can. And if you don’t have a lot of money to do direct mail, then the best way is on the phone. Okay, cool. So the other big myth or the objection I hear from people is no one is going to take an offer at 25 or $0.35 on the dollar, which just isn’t true. I don’t know what to tell you, but it’s working for us now. In some markets we’re making offers at 40 to $0.50, but never more than $0.50 on the dollar. And that’s only in competitive markets where we know there’s a lot of demand and we can sell these things really quickly. So it’s actually very, very easy. And if you don’t believe me, just try it. Just try it. Send out a bunch of postcards to vacant land owners that have owned vacant land for over ten years who don’t live in that county. Send them a letter, send them a postcard. You know, there’s a lot of land investors that just send blind offers. They just figure, I’m going to offer a thousand bucks an acre and they send out a thousand of them. And depending on the numbers, you get one out of every thousand, maybe one out of every 1500 blind stupid offers accepted. That’s the way it works. Why would somebody even ever want to sell their land for so cheap? Well, you know, I don’t know. People just don’t want it any more. It’s the same reason why somebody would go and buy a $2,500 treadmill and then sell it at a garage sale three years later, because every time they walk past it, it reminds them of how fat they are. Their wife is mad at them forever buying that stupid thing in the first place and only using it twice. All it does is sit in there and they’re in their living room collecting laundry or whatever, right? And they’re just like, sick of this thing. This is so stupid. Nothing’s wrong with it. It still works. It just hasn’t been used in three years. So the next garage sale comes in. Get rid of this thing. 35 bucks. I don’t care. I’ll pay you to take it, you know, because it’s just so stupid. Heavy. That’s what. It’s the same thing with land. People just don’t want it anymore. They’re tired of dealing with it. They inherited the property from their dad. I hear this. That’s funny. Well, we. A dad bought this thing and he passed away. You know, that’s not funny, but he passed away, and we didn’t even know that he owned it. So people just like they’re sick of it. We were talking at the workshop I did yesterday. One of the sellers we were talking to was saying that they just they’re renovating their house. They have this vacant lot that they bought that they just never used and they needed some extra money to help finish the renovations so they could sell their house. So this house has been a huge money pit. It’s sucking them dry of all of their money. They just need a little bit so they can finish the rehab and then sell it and get all their money back. They don’t care about the land, right? I bought another property from a guy who owned in fact, it was this one, I think maybe in Putnam County. The guy was he bought it because I forget the numbers, but he bought it for six grand. We were offering him four grand and he bought it seven years earlier. And I felt bad kind of, because then he told me I did feel bad and not kind of I did. But let me tell you a story. His daughter was getting married and he wanted to he wanted to help pay for the wedding. And so he had this vacant lot and he just wanted some extra cash. And so I sent him an offer. This wasn’t this deal is another one. He said, Hey, listen, can we instead of closing in 90 days, can we close in 30 days? And I said, Well, sure, what’s going on? And maybe and he said, Well, I just need the money for my daughter’s wedding. I said, Oh, well, that’s cool. Congratulations. And I said, Well, tell me about the property. Why did you buy it? You said, Well, we bought it six or seven years ago. We’re just going to go right four wheelers and have some fun. We will. We have only used it once and now we just don’t care about it anymore. I’m tired of paying the taxes. I just want to get rid of it. I said, Well, how much did you pay for? And he said before, and I was offering him four, and he said something like six or seven grand. And I felt bad. I’m like, Oh man, you should probably listen with a realtor, which, by the way, is a sales technique, right? You pull away, you take the offer away. And because I wasn’t being desperate, I wasn’t chasing him, I was making him come to me. And, you know, and it wasn’t a silly manipulation trick either. I’m just like, I want it. You know what? You should probably listen with an agent if you want more money. And he’s like, Nah, man, I just don’t want to mess with it. My daughter’s getting married in a month. That’s why I want to close in 30 days instead of 90 days. It’s like, okay, I get it, you know, that’s cool. So he knew what I was doing. He knows I’m an investor. I’m going to. Flip it. I want to make a profit. I suggested to him that he listed with an agent, which, by the way, again, I tell that to every seller that we talk to, I tell I’m not going to give you the most for your property. Your property’s worth more than this. If you want to sell it and get the most possible, I can recommend three or four realtors to you. And that’s the truth. But most sellers, again, they just don’t care. They’ll trade their equity for the speed and convenience of closing it fast for cash. So anyway, sellers do take your offers at 25 to $0.35 on the dollar.
Joe: Now, another big myth is land is complicated. It must be complicated because it can’t be that easy. Or I don’t know why people think it’s complicated, but it’s not. I’m telling you, when you compare it to houses, it’s so much easier. You don’t have to deal with repairs, inspections, maintenance. You don’t have to deal with pesky buyers walking through the property. You don’t have to deal with code inspections and violations and things. Now, there are things that there are codes and rules and zoning with vacant land, but a lot of the land that we flip is unrestricted, which means there’s no way you can put whatever you want in there. You can put a camper, you can put down, you can go hunting, camping. So land is actually not that complicated. It’s dirt. It’s an indestructible asset. And some of the most wealthy people in the world are investing in land, a lot of them. Two of the biggest private landowners in the United States is Bill Gates and Warren Buffett. And they each own about 260, 270,000 acres. So I don’t know. I mean, if the rich are buying land, maybe you should look at it and think maybe that’s a safe place to put your money. It’s a great place to protect your cash. God’s not making any more of it. Now, another big myth is land is pointless because just sits there does nothing. It doesn’t make any money, which is bogus, right? We buy land for 25, $0.35 on the dollar and then we sell it for about 85, $0.90 on the dollar with cash for cash. And then we sell it for maybe a little bit higher on owner financing. So it doesn’t just sit there, it actually can make money. Which leads to another myth. Land doesn’t generate any income or cash flow of any kind. And I don’t get this, you know, it’s maybe people just don’t understand. But there you see the deals that we do. They’re usually cheaper, vacant lots. Okay. And we usually our target sweet spot is maybe the property that sells for 25 to $100000. Listen, and this is rural recreational land. Sometimes we’ll do a little infill lots, but banks will not lend money on these vacant lot. So we will. We will finance this vacant land. Who buys this land? What’s another big myth? Who on earth buys this stuff? Campers? People want to go hunting. People want to go. Just get off the grid and hide their guns and hide from the government when they come to give them the jab. Hopefully that doesn’t get my video edited. I’m not saying I agree with that. I’m just saying that’s what they think. We’ll see if this video is up in two weeks. I don’t know. But, you know, people buy land sometimes to just hide from the government because, well, for whatever reason, they might want to just ride their four wheelers. They might want a place to go and just camp and get off the, you know, get away, which is cool. They might want to build a house. We’ve sold land before that was like in a wetland and we didn’t know it. And it was all it was underwater two or three months out of the year. And but we still saw the because people wanted to go mudding. They wanted to get their four wheelers in the drier season, I guess, and get really muddy and dirty. So that’s cool. So there are lots of people who buy the land. And when banks don’t do financing on this land and you’re selling it for $30,000, do you think you’re going to get more calls from somebody who’s got 30 grand who wants to pay cash, or are you going to get more calls from somebody who’s like, Yeah, I’ll buy it. Only a thousand bucks down and 300 bucks a month for five years or whatever. So whenever we are selling land for every one call we get from a cash buyer, we’ll get 3 to 5 calls from somebody who wants to do on our financing. So it’s a great way to get cash flow. This deal here. Yeah, we’re getting $250 a month. We bought this property for 30 $700. So debt we’re debt free. We don’t owe any money on this property we bought it for It’s 1.4 acres in Florida in the middle of nowhere. Florida. We bought it for 30 $772 and we’re selling it with owner financing for 13 grand and we’re getting $250 a month. So let me ask you something. What other investment can you pay 30 $800 for and get $250 a month in cash flow on that thing? You know what our cash on cash return on this deal is? It’s about 100 and 120%, which means what means you get your money back within a year or less. So when I was studying first getting started, I was reading Rich Dad, Poor Dad, and I was reading all this stuff. And the cash on cash return is that money you put in $10,000 and you get back $2,000 in the first year from your cash flow. That’s pretty good. That’s a 20% cash on cash return. And so you would learn that if you were using leverage or debt and you’re looking at an investment property, if you can get at least 12, 15% cash on cash return in the first year, that’s a good investment. Well, what if you could get 120% cash on cash return? From buying and selling vacant land. Now, one of the things you have to understand with vacant land is this know it is only good for five years. What does that mean? Well, in five years, the buyer’s going to pay it off. And so I don’t get a lot like it with a house. You can rent it out for 40, 50, 60 years. Right. But with vacant land, I don’t have to pay for any maintenance and repairs. There’s nothing to fix. I don’t have to deal with stupid deadbeat tenants. And when they are with, they stop paying me. Or if they’re whatever, I don’t have nothing to go clean up. I mean, they just find another buyer.
Joe: So that brings up another question is, well, what if they stop paying? I just find another buyer is not a big deal. I own this property free and clear. I don’t have a big mortgage to pay. It’s only 30 $700 that I’m into it and I usually get my money back within a year. What a great investment. I don’t know of any other real estate investment that gives you this much cash, this passively. You want to know the true definition of passive cash flow. Buy little cheap vacant lots and sell them on owner financing. You also, Dodd-Frank doesn’t apply because nobody’s living on the property. It’s a vacant lot now. There are advantages to houses, right, that you don’t get with land. You can’t depreciate it, You keep you. You have less write offs with land than you do with houses. So as a long term investment, maybe houses, commercial storage units, apartments, you know, maybe those are better for long term cash flow. But I got you got to take on a ton of debt and there’s just so much more risk. So do both. That’s what I’m saying. If you want quick cash flow, I’m telling you guys, you do two of these deals a month, this one or two of these a month, within a year or two years, you’re going to have enough passive, truly passive cash flow to be able to quit your job. All right. Another big myth with lane investing is it’s pointless because it just sits there. No, I already said that, didn’t I? Another big myth is that you can only buy property near where you live because you have to go out and look at it and you have to inspect it. Not on every land deal I’ve done. I’ve lived on deals in about five different states, six. I’ve never gone to look at it. Never. So how do you know it’s a good deal or not? What is it? We hire local realtors. They go look at the property. We hire people to go take pictures of the property and they do a lot of drone footage and stuff like that. And a lot of times our buyers tell us about the property. After we start advertising it, we put it on the MLS or whatnot on our website, we put it on different websites. The buyers go out and look at it and we get feedback from them. I’m like, Yeah, did you know that there is no road access? That thing that looks like a road on the satellite is actually a driveway, somebody else’s driveway, there’s a gate and I go, Well, thanks for telling us, you know, appreciate it. Sorry to waste your time. Lower the you know, hey, it’s under water. There’s no way to get to it. But like there so your buyers, your realtors, your local photographers, they will go inspect the property and tell you all about it. So here’s the other cool thing, because you can’t go out and see there is a little bit of risk. You don’t know exactly what you’re offering on, but that’s okay because we give ourselves three months to close on. Oh, I don’t have one of the contracts in front of me here, but we get results. 90 days to close for due diligence and we don’t put any earnest money. I should have talked about this like you need a lot of money. When we buy land, you don’t need earnest money deposits and you don’t need proof of funds. I’ve never of all the deals that we’ve done, I’ve never given the seller an earnest money deposit or any kind of proof of funds to prove that I have the cash. It’s just not like that. And because land is not as competitive as a house is, we don’t have to close in 30 days. We don’t have to have a one or two week inspection. We tell the seller we will close within three months and I can also cancel my contract for any reason. It’s just it’s vacant land. People just don’t care as much about it. That’s Sellers not sitting on 20 different offers from other house investors that are trying to steal the deal from you. We have more time to slowly excuse me we have more time to slowly get into the deal and buy it or flip it. Okay. And then here’s the other cool thing. We only buy the land when we know we have a buyer. Okay?
Joe: Another big myth is you have to do something to the land. You have to subdivide it, you have to put underground utilities, you have to plot it, you have to entitle it. You have to clean out the underbrush. You got to put a road yellow, something to it. Who would want to buy just dirt, Never done anything to land all the land deals. I’ve never done anything to it. You go to Land.com, go to the lands of America, go to Zillow, Redfin, look for land that’s for sale. Better yet, go look at land that has already sold in the last three months. You’re going to see a lot of land that saw that they’ve done nothing to. There’s nothing about it. It’s just like dirt. I know the fact sometimes the less you do, the better to it. That’s what people want. They want to be able to go and do their own thing on that land so you don’t have to do anything to the land. Now, certainly if you’re in an area that’s kind of growing on the path of growth or whatever, it might be a good idea to take that ten acres and parcel it up into five to little acre properties, sell it to a homebuilder. I know a lot of guys are doing that and killing it, but when you’re just getting started, you don’t need to do anything to the land, you know? And some people are saying, Well, again. It isn’t going to be hard to find a buyer. No, this is what you do. This is why it’s not hard. We only go into areas where there’s already a lot of demand you can go to. This is what we do. We go to land, watch dot com. We see all the most popular counties, the most popular states. The most popular counties in those states where most of the land deals are being bought and sold. And then we go into each of those counties. So we’ll pick a couple of states and pick the top 12 counties, and then we’ll go into Zillow or Redfin and see which of those counties have had the most sold in the last 90 days. It’s all free information that you can get. Okay. When we find the properties, the counties that have the most sold in the last 90 days, guess what’s going to happen when we go in and do our marketing? Two sellers that own vacant land or that they have owned for over ten years and they don’t live in that county. When we go send postcards, we get calls, we send offers, we get one accepted guess what happens? We sell these things like that because there’s already so much demand. We can go in and see what these and these buyers are, retail buyers and investor buyers. What are they buying the land for? What kind of what areas are they buying them in? Who are they? Where are they? And so when we get a deal under contract, all we need to do stick it out on the MLS. We do sometimes a flat fee listings. We put it on our website, we put it on Facebook. Sometimes we’ll send letters to all the other people that are buying land in that area and we sell them very, very quickly because we price them aggressively and because they’re in areas where there’s already a lot of demand. So we follow the demand. We’re not afraid of competition. Competition’s a good thing. We want to be in the most competitive areas because we know that when we get a deal, they’re going to sell fast and we’re going to make more money on them. We’re going to be in and out. It’s about the speed of capital in these deals. Does that make sense? It’s about the speed of capital. So you want to make your job easier. You don’t want to spend a lot of time. You don’t want your money out there for very long. And how do you do that when you go where the money is and you do deals where there’s already a lot of demand? All right. Another big myth. The properties that are listed for sale already on the MLS are exempt, represent all of the properties that are available for you to buy. So the only properties you can buy are the ones that are on market already wrong. That’s a good place to go. If you don’t have money, make contact. Realtors make offers on some of the older listings that have been on the MLS for over six months or whatever, but almost all of our deals that we do, our off market deals, we go directly to the sellers, we send them ugly, cheap postcards. They call it 24 hour news. I’ve already told you all this, but there are way more deals out there off market than there are deals added cheap discount on market. It makes sense. Another big myth I’ve already talked about this a little bit, but there’s a lot of rules and regulations. I don’t know. I mean, there are rules and regulations, but not a lot. And when you compare them to houses, it’s way easier. You know, you don’t have to get an inspection of any kind. Now, there are rules in terms of the counties of the houses will have restrictions. You can’t go just dump toxic waste on your land, right? Yeah. When you compare it to houses, it just doesn’t compare.
Joe: Final myth, I think. Let me just look here, okay? Forget. Yeah. Final myth. If land is so awesome, Joe, why isn’t everyone doing it? I don’t know the answer to that. I mean, I don’t know. I’ve been talking about it, preaching it from the rooftops about how awesome land is. And I sell a lot of courses. I’m helping a lot of people do a lot of deals. It’s the most fun. I’ve been teaching the houses for a long time. I get more testimonials from people doing land than I ever did doing houses, way more testimonials from people that are having success and doing deals. I can tell you this, I guess it is becoming more and more popular. More people are doing vacant land maybe than they were three or four or five years ago. But let me tell you this as well. I’ve done some research on this. I’ve done some studies like deep scientific studies. I went to Google and I did a search. If it’s on Google, it must be true, right? Well, I did a search for like how many vacant how many houses are there in the U.S. and how many vacant lots are there in the US? Right. And then I looked at how many active house investors are there and how many active land investors are there. And so then I looked in the last 90 days of how many active house investors had bought houses. This is all easy to get from Google. And I also use list source, which is owned by CoreLogic. All right, so how many in the last 90 days when I did this, how many active investors bought properties versus how many are available, and then how many active land investors bought vacant land out of all the land that’s available? Okay. So here’s something that I found out. Proximity numbers here going off in my memory, but it’s pretty good for every 3200 houses. There is one active investor, but for every 27,000 vacant lots, there was one land investor. Does that make sense? So if you look at the numbers, there are seven times more vacant lots out there available for every active land investor than there is for houses. There’s over 3000 counties in the United States. There is I how I wish I can remember the number millions, 40 million vacant lots out there or something like that. If you look at a map of the United States and you can see what percentage. The United States is residential, commercial, industrial, you know, highways and concrete and stuff like that. It’s a small little percentage of the entire United States. I think like 15% of the entire U.S. is not vacant land. There is so much land out there. I’m telling you guys, if everybody listening to this podcast was just to focus on one of the more popular states where there’s a lot of land flipping right now going on, there would be plenty of deals for all of us to go around. So I’m not worried about competition in the least. If land is so awesome, why are more people doing it? I don’t know. But, you know, people come into the business, they try it out a little bit and then they leave. So you may think there’s a lot of competition, a lot of people doing deals, but a lot of those people, they just are dabbling in it. They get in it, they get out for whatever reason. I don’t know, maybe it’s too hard. Maybe they’re not willing to invest the time or the money into marketing. Maybe they thought that it was just like, push button and money falls from the sky while I’m sitting in my underwear in my parents basement playing video games. But it’s not like that. It’s harder than that does take some work. So a lot of people quit. That’s why a lot of people buy a program and don’t do anything. But here’s the thing. I remember when I first heard about land investing from a good friend, Jack Bosch shout out to Jack. He was a guy teaching this 12 years ago or more, and he was saying the same thing like, Land is amazing. Why are more people doing this? I’m doing a ton of deals and even back then, like nobody was doing it. Well, it’s still kind of the same today. Okay. There’s a lot of opportunity out there. There’s a lot of people that bought vacant land ten years ago. They’re done with it. They’re sick of it. They just want to get rid of it. It’s just, you know, like people think houses if housing is investing in land and wholesaling houses, rather, if wholesaling houses are so easy, why are more people doing it? It’s must be really competitive. Well, I don’t know, but like it is competitive. But you can we’re still doing a lot of house deals, are still a lot of people out there doing a lot of house deals. There’s a lot of wholesalers making a lot of money doing houses. Well, guess what? There’s still as much opportunity and I would say more opportunity flipping vacant land. So why aren’t more people doing it? I don’t know. I think maybe I don’t know. I don’t have a good answer for that. I don’t have a good answer. But let’s see.
Joe: Listen, if you want more information about how to flip vacant land, get this PDF. It’s absolutely free. It’s a nine page strategy pdf. I got real creative with the domain strategy pdf com and it’s going to show you step by step why I love land. And I’ve already kind of talked about it in this video, but it’s also going to break out how to do these deals. I must show you some examples and then I’m going to show you what we actually do, how we find the deals, how we here’s the step by step market number one, step by step, process number one, you pick a market. Now, I would tell you what kind of market we’re looking for. Then we pull a list and then we set up our voicemail systems. We send cheap postcards and letters. And then, by the way, the pricing that I give you on this is actually cheaper. Yeah, that’s crazy. We have a new resources now with Freedom Soft. We’re saving tons of money on direct mail. People send you, they leave you a voicemail, you process the lead, you send out an offer. I show you how, how we make the offers, we follow up. We just did two deals that came from follow up. We were looking at it the other day, and the two deals that we just sold came from the third offer that we sent to the seller. Follow up. We talk about due diligence and what to look for in the land, and then we advertise the property. We talk about where to advertise it and how. And then when we flip the deal, how do we do that? We double closed and we sell the deal and we talk about scaling and growing your business. So this is a little cool, simple PDF gives you high level real brief overview. Get it right now strategy pdf dot com. Appreciate you guys. Have a good one. Bye bye.
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