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  • 1276 » PART 3 – Do or Die Series: Starting a Brand-New Land Investing Business from Scratch with Josh Howard

This is part three with my good friend Josh Howard, who is a missionary in the South Asia area. The goal of this session with Josh was to look at some of the counties that he's picked for his vacant land business. Josh and I have been an open book about our process in this series, and he’s been targeting several counties in Texas. He’s got access to the MLS through a realtor friend, which you’ll definitely need if you want to get historical data.

Josh is also looking at some other states, and here, we zero in on North Carolina and look at the data. Some of you may be out there thinking that you won’t be able to go into the counties Josh and I show here, but you can’t avoid competition. Any time you go into a county where no one else is doing deals or there’s nobody marketing, it’s a bad sign. We’re focusing on a county that has a lot of demand, a ton of activity, and a bunch of recent land transactions. I walk through how to pull a list of leads in a target county, how to set up a call automation campaign, and how to use data to figure out the best range for offers.

Listen and learn:

What’s inside:

  • How to pull a list of leads in a target county.
  • How to set up a call automation campaign.
  • How to determine the right range for your offers.

Mentioned in this episode:

Download episode transcript in PDF format here…

Joe: What's up, guys? Joe here, Real Estate Investing Mastery Podcast. This is part three with my good friend Josh, who is in the South Asia area. He's a missionary doing some really cool things there. And last time we talked was a few days ago. Last week. No. Yeah, last week I was in Iowa, hang out with my dad and I had a good time there. The goal of today's call with Josh is to look at some of the counties that he's picked. And listen, we're going to be open book about this because it's just too hard if we're going to be publishing this for the world to see. It's going to be too hard for us to hide which counties Josh is going in. But here's the cool thing, too. We're not we're just going to be going with one county right now. But Josh is going to be going after eventually ten, 12 counties, because you can't usually buy a list big enough to do what you need to do when you're marketing. And one of the states Josh is going to be going in, which is I'm excited to help him with, is Texas, because he's got access to the MLS there. He's got a realtor friend who's there who's willing to share with him the MLS access. And pretty much in Texas you have to have my experience and I may be wrong, but you kind of have to have MLS access to get any kind of historical MLS or sold data because it's just not publicly available, which makes it really hard to count properties, It makes it hard to find who owns the properties. But now that he kind of has backdoor access to that stuff for public for purposes of this call, we're going to be setting up a campaign in one of the other states that Josh has chosen in one of the counties in that state. But kind of offline is we're not recording. We're going to be doing this also in Texas. So I'm saying that because some of y'all are thinking, oh, no, this county that Joe and Josh are going into was the county that I just picked or I'm definitely not going to go into that county now. And some of you are going to be like, Oh, I'm going to go into that county, because if these guys are doing it and I'm going to do it too. So you can't avoid competition. I want to just clarify this. I know you'd know this, Josh, but like any time if you go into a county where there is nobody else doing deals there and there's nobody marketing, that's a bad sign. That's a sign that you don't want to go into that market. So we're going to be focusing on a county that has a lot of demand, is a lot of activity, a lot of recent investor or a lot of recent land transactions where people are buying properties there. Right. So, Josh, how are you doing?

Josh: Doing great, man. Yeah, doing very good. Really excited about this, Joe and pumped about, you know, pulling out a list and starting to get some marketing out there. It'll be it'll be good, man. Yeah.

Joe: All right, So what were some of the states that you looked at?

Josh: So I looked at North Carolina. I looked at Florida, I looked at Tennessee, Georgia, Virginia, Arizona and Texas.

Joe: Okay, cool. So what's for purposes of our demonstration here, what's the of the state that you want to go into now?

Josh: Yeah, North Carolina is where I feel best about that state. Just on the research that we did on sold comps and all that type of stuff. So I think it'd be great to go to North Carolina first to give it a go.

Joe: Good. I like North Carolina a lot. And what are the top two or three counties you like in North Carolina?

Josh: Yeah. So originally when I started pulling data, I did 1 to 20 acres of land. But then when we took that away and did 0.2 acres on up, there were a couple more counties that popped up that were really popular. Brunswick County was one of them. They had way more sold than any, but it was a lot of smaller lots. Number two, though, was Jackson County. Jackson County had a ton of sold comps, which I think, again, that one actually wasn't on my top three or four when I did 1 to 20 acres. But when we pulled it down a little bit to see other infill lots and things like that that popped up on when it's one or 20 acres, it was Macon County that was actually the highest. That was number one on 1 to 2 acres. But then when we pulled in, the smaller, the smaller was Brunswick and Jackson kind of came to the came to the top.

Joe: Okay, cool. So I'm going to share my screen here and we'll kind of just look at them real quick. Okay. This is Redfin. We're looking at Jackson County, North Carolina. So those are you don't know where it is. Too great area near Asheville, kind of in the mountains there. That kind of It is. It's gorgeous, beautiful area. And if I go here to Souls last three months now, these are our homes and everything. Let's make it just land. Boom. There we go. We've got 191 vacant lots sold in the last three months, 90 days. And that's a good number, 191. That means there's a lot of activity. I like Jackson County, done deals there before. I know people, again, they're watching this thinking, oh, no, I just picked you're going into my county. The nobody houses has a secret grip on this county or what do you call it, a stranglehold or I don't know what I'm looking for, but like, there's a lot of activity here. There's a lot of deals. And I like Jackson County, North Carolina, so let's just go for it. And again, we're not like we're not going to be married to this county for the rest of your life. Right. So this is just one county of a dozen that we're going to be going into over the next three months or so. But that's a good place to start because there's. A lot of recent activity. In the other cool thing about going into a county like this is you can find a lot of realtors that are willing to list and sell your properties and do things like this for you. You know, like this property here, 1.3, four acres probably sold really quick. Look at the views that they have here. But they were able to go and hire whoever listed this property and sold it, knew how to take good professional photography photos. Right. And well, yeah, these are decent photos. Some of them are right. But you can see look, Wanda Herron. And sometimes you can see who the buying agent was here, or at least the contact phone number. So you can find the listing agent and the buying agent. So when you're actually selling your deals, it's much easier to get comps and it's easier to find realtors that can actually help you that are doing a lot of land deals in these areas, which is again, why I love this. And you can get you know, you can sell these properties are selling for pretty pennies here. You know, these are really good deals selling for high profit margins. All right. So Jackson County, North Carolina, let's get a phone number. And one of the things we need to do on your freedom, stop to count is buy a phone number. Right? Unless the level you're at, you get three free phone numbers a month. Let's just pick one that's kind of somewhere in North Carolina. So normally what I like to do is let's just look at Jackson County, North Carolina area codes. Let's do let's just do this North Carolina area codes. And you can usually find if you go to images, you can see maps of area codes. I think this is Charlotte down here, isn't it? For sure.

Josh: I'm not sure what I I'm not sure which one has Charlotte 04980.

Joe: So let's just pick one of those zip codes. Let's pick 704. So I'm going to go into your freedom to count, go to settings, go to phone. We're going to add a number. What number did I say again? 704 All right. So there's one number available. It's interesting not only to give you a lot more than that. Let's look at 980. All right. Any of those numbers that you like?

Josh: Oh, let's see. I mean, they all look pretty good. Six one, two, one is good. 562, six is good. Those are all they kind of have a good ring to.

Joe: Do this one right here. I'm just going to pause my screen share 9836101 because the next phone number is going to show your American Express in your address.

Josh: Okay.

Joe: It says 395 a month, but you get three, five, three phone numbers a month as part of the plan that you're in. All right. There you go. This is we're just going to call this Jackson County, North Carolina, now. Okay. Sometimes what people do is they get one phone number for every county that they're in. Some people do one phone number for every state that they're in. You can have one phone number per one campaign. You can't have one phone number go to multiple campaigns and you can't have multiple campaigns use the same phone. And I just said the same thing. But anyway, what you're going to need to do later is you're going to need to go in here into the settings and phone and update, either upload or record a custom message. Okay. I'm just going to do it real quick myself here because it's very simple. What's the name of your company again?

Josh: Ignite Investment Group.

Joe: So I'm just recording one to see if it works. I don't know if my mic will work here because I'm using it in Zoom, but hey, this is Josh with Ignite Investment Group. Thank you for calling. Please leave your name and number and the reference ID on that postcard at the sound of the tone. And we will send you an offer and call you back right away again. Leave your name, phone number and the reference ID on that postcard, and we'll send you an offer. Thanks. Just something simple like that. Right. So go ahead and do that yourself. Josh with Ignite. All right, So it sounds like it works. And if you want to call notification, go to an email when you get a lead. You can add that here if you want, but I'm just going to save changes. So now that phone number has been updated with an outgoing voicemail. If you wanted to set it up where calls went to you and you answered live, you need to set up what's called a call automation right here. Just go to the tutorials and watch how to do that, because then you can set it up where on certain days, in between certain hours, they will forward the call to your cell phone. And if you don't answer it, it goes to it goes to voicemail. Also here in phone, one of the things I always do is I like to record all my calls and it costs half of a cent per minute. There are rules about that. So check, just read this stuff out here. But with the phone number now, it can record every inbound and outbound call. All right. The next thing we need to do is we need to create a list in a campaign in Freedom Stop. So the list is where we're going. We're going to download a list from priced and we're going to upload that list into Freedom soft. So all of those leads will be sitting in this thing called list. And then we're gonna have a campaign for Jackson County that's going to be tied to this phone number where every call that you get in that campaign will create a new lead in that campaign, and then you're going to link it to that record in the list, which has all the information in it. All right. So I'm just going to go to my pipeline and we're going to click lists. We're going to add new lead lists. We're going to call this Jackson County, North Carolina list. And this is going to be for direct mail sellers. We're going to make sure we're doing. Joe's Vacant Land Workflow Automation and Click Create Leads. That's it for now. To go back to my pipeline, we're going to create a new lead campaign. We're going to call it campaign. It's just going to be direct mail sellers. Phone number. We're going to choose a phone number. We just selected workflow automation. We're going to do Joe's Vacant Land. That's the only one selected. It's it leads campaign. So now we go to my pipeline. We have a list in a campaign here. We're going to we're going to upload into that from what we're downloading in Prycd here. All right. So we're going to we're just going to use my Prycd account because you don't have a Prycd account yet. I recommend you get the if you go to plans and pricing here from Prycd, I recommend you get just 500 bucks a year. If you use Joe McCall dot com slash Prycd, you get 200 free credits, I believe. But this gives you all of the extra reports, the research, the analysis, the comps. You can export a bunch of price data. You get to use the drawing tool when you're doing research and you get ten free comp reports a month. And these are really good when you start analyzing deals. So I recommend that level. Now we're going to go in and type in right here, Jackson County and a lot of Jackson counties, North Carolina. Then I do something here where I do acreage increments. I click on Add Acreages. So I'm going to do a little search and there's a lot of different ways to do it. It's just the way I like to do it. We're going to minimum acreage point two acres, and on this criteria we're going to do 1.01 and we have to do a 0.2 acreage increment. You'll understand when I show you the results why I'm kind of doing this. That's my increment for that 2.01 to 20.11 increment. So these are minimum there's three different levels of acreage increments and the one that has the most is probably 2.2 to 1. So that's why my increment is the smallest. The second most would probably be 1 to 2. So that's why the increment is point one. Okay. So we'll look at that in a minute here. The only other thing I really do is these are all of the vacant filters we're looking for from Data Tree I want in County, I want to exclude people who live in the county and I'm going to go down here last sale date. Let's just find all the people that have owned their land for over. Let's do eight years. So they've purchased it before eight years ago. Okay. Sometimes I do ten, sometimes I do five. I just said, Let's do it and let's see how many we have. Click search, analyzing comps, creating pricing models. And we got 6100 records there. It's pretty good. After we remove duplicates and all the owners we don't want, we'll probably get that down to 4000. This is why I said again, we're only going to be this is just one county of many that we're going to be going into. We're going to adjust the you can adjust the offer amount up or down. But what I'm recommending that we're doing is we're going to be sending a range postcard and looks kind of like this where we're just going to say, hey, the reference ideas up here, cash offer for your property. We're going to if you're interested in an offer between this price range. That price range is based on what we're downloading priced. Okay. So that's what we're going to use here. Okay. So if I sort this by data tree owner records high title low, you can see kind of why I did that. And you know what's interesting here, you see we have 904 that are between 2 to 3 acres, 423 between 3 to 4. I'm gonna do something real quick here and change a little thing because, yeah, I want I want a bigger I want more of a breakdown between the I'd rather have like two, two, two and a half and two and a half to three acre breakdown to go back and just kind of change that a little bit here. So management is going to be half an acre there for that. All right. Let's do search now, because when I saw data tree owner records from high to low, I want more of an even distribution as much as possible.

Josh: And will that determine the range of the offer dependent upon or will be okay. Yeah.

Joe: So now you can see based on these owner tree records here, the acreage and it gives you what they if we're going to use 25%, let's just say, but when we send a range, normally I'll do like you can choose what you want. You can say when we're giving them the price do between 25 to 35% or 35 to 45%. The goal of that postcard is get them to call and text or call, but don't send them to a website. Just want them. We want their phone number. We want them to call. Listen to our 24 hour recorded voicemail, But we want to talk to them and we want to find out from them more information about the property. We that range may be way too high. Many times it is, but we've talked about this before. The goal is to get them on the phone, to talk to them. Right. To find out more about their property and say, well, I'm not going to be able to answer. I'm not going to be able to offer you that. What, because of this map, what is the least you would take? Right. We talk that's the fastest way to a deal when you can call them and talk to them on the phone. All right. So I like the distribution here. It's much it's better. And we got some good pricing here, models and what's interested. Is Jackson County. Most of the properties are not in the little small acreage. Point two. Right. Let me just look something at page two here. We have there's very few under one acre properties. Yeah. Which is interesting to me. All right. So what I like to do then is I'll just select all of them right there. I like to go to geo pricing. There's if you want more information on the pricing models or their schemes, just click on these question marks here. And one of the cool things, two from if you have the $500 a month and $500 a year or $50 a month level, you can download these comps for all of these properties, which is when you're looking at making offers. This helps a lot anyway. So I'm going to click continue. These are field names that you can scrub. I don't really much do much with that. Just click continue. Let me just check all of them. It's not going to hurt anything. So this is all of the data downloads for you. Those then click continue. Now, this is where these are custom scrub filters where we're going to remove blank. Owners, church owners, government owners. Blank addresses non-U.S. addresses, same zip code as partial. We don't want to mail people that live in France. Right. And we have to have an address times. They don't have one right now. We're going to remove duplicate owners. We're going to do split pricing. What that means is is going to give us now an extra 20 columns in the spreadsheet based on 5% of price value, ten, 15, 20, you know, all the way through and then revert to city pricing means that if they're if they don't feel confident enough with their algorithm for pricing, they'll revert to city pricing. All right. Then I'm going to do a custom reference number, and this is J. C K Jackson, and we'll just start with 1750. What that means is every record is going to have Jack Dash 1715 and the next one is going to have 1751 1752. And I'm going to pause my screen here. We'll just check out again, we're using my account here. You only pay for the scrub a lot of data out. So you only pay for the data that you. It's kind of weird how they do it. They actually credit you pay for the full amount, but then they credit back to you for future downloads. Okay. All right. So I have to put in my. You can't see my screen, right?

Josh: No, no, no, no. It's paused right now.

Joe: All right, All right. So just use my PayPal. That's just the way it is. Okay. Got it. Got an order went through and they're going to send it to my email. It takes a few minutes to get. And let me think about what let me get let me go check my email here. Hold on one second. Okay. And I'll show you kind of what I've got and then I will I'm going to have to my assistant is going to wonder what all of this is. Forward this email to her actually going to pause the recording here because this is boring stuff. Hold on. Okay, Josh, we just got the list from Price. And you see my screen here I uploaded into a Google Drive folder. I'm going to open it up here real quick. And this is the final list that came out. I'm going to open it up with Google sheets here. All right. Let me take just a minute. It's a big spreadsheet. We'll see how many records we have. What was the original number?

Josh: Remember, it was like 6000 something originally.

Joe: All right. So now it's 3758. So it's almost cut in half because that just again, it's good. It removes duplicates and stuff like that. So I'm going to just do a few things here to the spreadsheet to make it a little organized here. And we're going to view. All right, I'm going to add. No, I'm not. I'm going to we have a column. Remember that letter reference ID column There it is. That a reference to the. I'm going to move that to the very beginning here. All right. Now I'm going to do a freeze, one row freeze, one column. The highlight. Well, I'm going to also do what's called a little filter thing. So I'm going to highlight everything, going to make it fit into columns there. Now we have our custom graphic letter reference ID. I'm going to call this reference ID, We've got the owner's name, we've got the mailing address that the APN number, the acreage, which is awesome. We've got the property address. Sometimes it's just the street. We don't have the address yet. You know what? That's fine. And then keep on going. We've got property, latitude, longitude. So we have GPS coordinates. We need to do a little bit of finagling there to make that into one column. We'll do that next time we do our call here and you scroll over, you see, the property tax is good information to know. Now, here we have the offer price and the market price. This is what price says based on our sliding scale, I think we said 25%. I don't remember. Yeah. I think if we take this with a grain of salt, this will get you 75% of the way there. But this is what prices we should offer. This is what prices the property is worth. Yeah, we did 25%. So scrolling over some more we should see soon here. Yeah. See, these are the split pricing. So this is the offer at 15%, 25%. And so. When we do that range postcard, I don't know. It's up to you, but I normally would do something like maybe 32 to 50%. 30 to 40% will be the price range or whatever the 35 to 45%. And you can see how this is. There's no rounding here. These do the numbers to the sense I like to round them up to the nearest hundred. So we'll do a little bit of that in the spreadsheet. We got to wrap this up because I've got another zoom here that I have to get on. But this is where we're going to we're going to take this list, massage it a little bit in the spreadsheet. Now we're going to upload it into FreedomSoft. Let's do that on our next call or I'll do some of it. I'll help you with some of it beforehand or have one of my VAs help you with this. But cool. Ready to go after this?

Josh: Sounds great.

Joe: All right, Josh, appreciate you letting me be doing this with me and being open and public about it. We'll get this campaign out the door this week. Cool?

Josh: Awesome. Looking forward to it, man, I appreciate you.

Joe: All right, Josh, hey, listen, any of you watching this now, too? And you want more information on doing vacant land deals like we're doing here. I got a free kit that you can get Simple Land Kit, dot com, Simple Land Kit dot com. A bunch of really cool free resources in there, my direct mail swipe file, my contracts, my scripts, and a software that I use to help calculate offers for your deals. Go check it out right now. Simple Land Kit dot com. All right. We'll see you. Thanks, Josh. We'll see you later. Bye, everybody.

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