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1287 » How To Find Big Fat Land Deals in Small Niche Markets

Brent Bowers from The Land Sharks is a good friend of mine, and here, he shares some of the things that he’s been dealing with lately. He also shares the strategies he’s been working on with his coaching students, especially around marketing and how to get more leads with a limited budget. We also talk about how to get a hold of Brent’s free resources, which you can access through the special link below.

Those of you who have been doing a lot of deals or know me well know that we love to do direct mail because it works. And it works really, really well. It always has, and it always will. The problem is that direct mail costs money; we’re talking up to a dollar for a letter or a postcard in some cases. Some people just don’t have the budget to send 500 or 1,000 pieces of mail every week. Here, Brent shows you that all hope isn’t lost and that there are ways you can get leads.

Listen and learn:

What’s inside:

  • The marketing strategies Brent shares with his students.
  • How to make direct mail work on a limited budget.
  • Info on Brent’s free resources.

Mentioned in this episode:

Download episode transcript in PDF format here…

Joe: Hey, what's going on, guys? Joe McCall, welcome to the Real Estate Investing Mastery Podcast. It's going to be a great episode. We're going to be talking to all things land investing today. And I have a good friend of mine, Brent Bowers, and we're going to be talking about vacant land. And one of the things that he's been dealing a lot with and I've been dealing a lot with is working with students and helping them figure out how to do more marketing, how to get more leads with a limited budget. Those of you that's been doing a lot of deals or know me and hear me talk about this stuff for a long time. We love to do direct mail. Direct mail works. It just works. It works really, really well. Always has worked and it always will work. But the problem with direct mail cost money, you know, it can cost 50, 60, $0.70 to send a postcard, a dollar to send a letter. And some people just don't have the budget to send 500 or 1000 pieces of mail every week. So what do you do? Is all hope lost? Is there anything you can do to get leads? Well, there is, and we're going to be talking about that on this podcast. I want to tell you, first of all, this podcast is brought to you by ba ba ba ba ba bom, SimpleLandKit.com. On there I put together a land flippers toolkit that gives you a lot of really cool resources. My direct mail swipe file, my contracts. I think even my option contracts I put in there my wholesale land contracts, the scripts I use for sellers, buyers and realtors. I've got a land watch hack video that I put in there, and I also have a software I created called Automated Offer Pro, and it helps you analyze land deals and helps you come up with offers. So go check it out. It's completely free and it's not going to be free for very long. And in fact, if you're listening to this or watching this later and you go to Simple Land Kit dot com, you might actually have to change it. It might we might be selling this thing for a few bucks. So get it right now while it's free. Simple Land Kit dot com. After you opt in to get it, there'll be an invitation for you to watch a special class that I did that teaches you how to use this stuff that you get in here for free. So check it out. Simple Land Kit dot com. All right, cool. Let's bring on the man, the myth, the legend. Brent Bowers from The Land Sharks. How are you doing, Brent?

Brent: I'm good, Joe. Good to be on here. It's been a while. Good to catch up.

Joe: Good to see you. It has been a while. You know, I just want to thank you publicly for helping me during my surgery. I had those you don't know. I had open heart surgery about five months ago and I took a month off. And then I took the next 1 or 2 months off. Very part time only work, part time, open heart surgery. It was pretty serious, doing much better. But Brent, you covered for me a couple, 2 or 3 coaching calls, didn't you?

Brent: Yeah, it's a good time. You have amazing community. I mean, really, really smart community. So that was fun. And when I have open heart surgery, I'm going to call you.

Joe: No, just you better not try to avoid that if you can. Cool. So how's business for you? How's your land business right now going for you?

Brent: It is going phenomenal. And I had I was telling you about some of the problems I'm having, too. You know, just because we make it in business, there's always another challenge. There's always another mountain to climb. Right now I'm trying to work about four days a week, so my schedule is about Monday through Friday. I really don't start my workday until about 10 a.m. and then I go really hard until about 4 p.m. and then that's when the kids are walking in my office. I work from home now. I rent it out my office, which I'm not having to pay for that anymore. I actually make my money on that. So we're now more profitable. I have tightened my belt quite a bit. I'm following the profit first strategy. You know, our friend David Richter, he's actually doing a call for our sharks tonight. But anyhow, I follow that strategy. We're way more profitable now. I tight my belt. I really watch the expenses lately because as we grow our business, we're like, let's dump everything back in. And then before we know it, we're spending almost as much in expenses as we are making. So now we're way more profitable with the help of our friend Tom Krol and David Richter. But business is good. I actually have more land deals right now than what I can. Me and my acquisition manager can personally do it. I'm not looking to hire anybody else. I'm really happy with where things are at. I didn't get into this business to get rich. I got into it for lifestyle. I have three kids, but you know, a lot of these deals that are coming my way are coming from our mailing strategy that we can talk about today and I've talked about in the past as well as free, I call them free land deals, freebies. And sometimes we get more than one at a time.

Joe: Awesome. All right. So let's talk about your marketing strategy right now. What are you doing? I know you. One of the challenges, by the way, you also mentioned is you're going after some bigger deals. Yeah. So like, are you still doing the small deals? Are you still doing seller financing deals? Where are you at with that?

Brent: And it depends how you define small. I used to buy land deals for $285 and sell for 5000. That got my start in 2016 when I was broke as a joke, as a second lieutenant in the military in the army. Now, my sweet spot lately I usually sell my land deals. Around 200 and 250,000 225,000. I love that area. That that price range because realtors land sell specialists, realtors tell me are sorry. Sell those parcels for me. Takes a lot of work off of my plate. I've sold a lot of land, I mean, hundreds of parcels on Craigslist and Facebook and bandit signs and neighbor letters and Land dot com. That's a lot of work. It helps when the realtors take care of all that. And lately, the problem I've been having, I shouldn't say a problem. It's my new mountain to climb, is I've been coming across parcels of land that I can buy and subdivide, so I buy it for around 2 million. 2.5 million. And I can sell it for, you know, 3 to 4 are basically double our money by for 2.5 million sell for 5 million. But here's my challenge lately is I have a bunch of lenders that want to lend me money, but most of them have 100,000, 50,000, 250,000. I don't have any that have two, 2.5 million. So now I'm at a point where I got to create a fund and deal with a lot of people, but really I'm looking for that one partner that wants to go in with a lot of cash and make double make money and love it.

Joe: That's a good mountain to climb for sure. Nothing wrong with that. So what are you doing for marketing right now? What are you finding working well for you?

Brent: Yeah. There's a couple of things. The first my tried and true, the steady eddy that I see we got to prime the pump with. This is I go in and find areas of demand where land is selling. That's it's that simple. We focus on supply demand. I want to know where the land is selling because I never want to get a great deal on a piece of land. Sometimes it's the middle of nowhere that I've got to go out and create demand for. I'd rather just fill that demand and become an order taker. Welcome to McDonald's. How may I take your order? So I find the land, the selling, and then I go in and I go a micro down. I really micro down to where that the neighborhoods that land is selling. And then I break it up because I think simple like I break it up into chunks of just land sizes that are selling in the area. So what do I mean by that? Well, this neighborhood might be selling one acre parcels. This neighborhood might be selling 10,000 square foot parcels. So I focus on that. The one that's selling the most, I call that the hot land size parcel, the hot land size. And I focus on that neighborhood and that size parcel that day, only I price it out. I figure it was selling for about looking at Redfin and Zillow. And here's a quick tip. Look at who listed that land and who it was bought by. You just scroll down a little bit. When you click on the Sold, you see it was listed by and who was byebye and copy and paste those guys and put them in a word document. And eventually you're going to see a pattern like Jim Jones is the one selling all the land in this neighborhood. Okay, Jim Jones is my man. I can tell it's selling for about, you know, a dollar, a square foot or whatever. I'm also going to call Jim Jones and make sure he knows, like see if he knows anything I should know. Like Streets A through C, have water and electric streets E through F, you know, avoid those whatever or price changes. We want to know those little ins and outs. We call that the boots on the ground. So once I figure all that out, I put in the Excel spreadsheet really simple. And then I loaded into Pebble and I mail that neighborhood. I actually back up, I misstep, I go to prop stream and I pull that whole neighborhood. I'm sure if they've only for three days or 30 years, I'm going to mail everyone that's in state and out of state, and I'm going to mail that entire neighborhood for that size parcel that day. And then the next day, I'm going to build the rest of that neighborhood that is my steady eddy consistent, that gets me land deals. And we tried something out in September. First we took our phone number off of our blind offer. I sent blind offers. I call my land offer letter my lol. I've been triple split testing this for free for about a year now. Works better than postcards. It works better than sending like a check looking thing. And it works better than my neutral letter. This is. This is by far outperforming everything else. And I'll give it to you, to the Joe McCall audience. If anybody wants, just go to The land sharks.com/LOL, that's land offer letter the land sharks.com/LOL. I'm going to ask you for your name and your phone number and your email so we don't want to give it don't even go to that that site but I promise I will spam you, but it's going to send you an email with that lol as getting me the best results right now. So that's my first marketing strategy and you need a little bit of money to do this. You need a few dollars a week to do this.

Joe: So you're sending you're taking your phone number off. Is that what you said? What are you putting on it instead?

Brent: Good catch. I'm glad you remember that because I was just talking away there. So why did I take the phone number off my acquisition managers? Been traveling all over the world and he's like, Brian, I've been having a hard time taking these phone calls because the time difference is that's like too easy. Take your phone number up, let's try this out. So we only have our fax number, my fax.com, $10 a month. I don't have a fax machine. I have it my faxed, I call our return mailing address, which is our UPS box. I don't put my home address on that because I don't want anybody showing up at my house. I always enjoy your letters, Joe. When you send them though. And what am I missing? Oh, my email address. Not mine, but my acquisition managers. We took his phone number off. We've gotten more faxes, more. More emails and more people sending that letter than ever before because we are giving them specific ways. Just imagine, like we're receiving these land deals and our inbox, which the faxes go to our inbox too. So we're not we're not getting the bunch of cold call. We're not getting a bunch of calls or people screaming at us angry. Now was crazy. Some people have looked us up and they've called my executive assistant, so they have found us that way. A few people have called. But it's so cool getting these faxes. I've gotten more faxes in these last two months whilst September and October than I've gotten probably in the last like, I don't know, nine months together.

Joe: It's crazy. So, like, you're not even giving them a website to go to. You're just telling them.

Brent: No, no, no.

Joe: I am skeptical.

Brent: Let me share my screen. I can show you my fax. It's crazy.

Joe: Yes, let me hang on here. Let me see if I can get that to work. Oh, you know what? I can't do that.

Brent: That's all right. And it's not a crazy amount like for an October 4th in September. But also, we're getting the letters sent back to us, United States Postal Service. We're getting them emailed. It's pretty cool. I like it that way because then we control it. We do the land deals on our terms, on our time frame, rather than someone just calling us and expecting us to be there to answer the phone.

Joe: Okay. So first of all, have you been testing this against neutral letters? And B, why do you like blind offers better than neutral?

Brent: Yeah. So yes, I've been testing it again against neutral letters. And neutral letters. Absolutely work. They do work for about every. How do I say? I had to send a several couple thousand neutral letters, over 2000 neutral letters to get one deal. But it gives me a lot of phone calls and I don't want to have to answer the phone. I don't want my acquisition manager having to answer the phone. If someone signs that thing and sends it back to us, I know they're serious. Marketing is detraction too. We want to detract the people that want a big bag of money. And here's what I find. A lot of people that call those neutral letters and those postcards, they just want me to be their land appraiser. And I don't want to be the land appraiser. I want to be the land buyer. So once they sign that purchase agreement, that land offer letter that I just shared and send it back, I know they're serious. And sometimes I got to renegotiate. We don't always price it the best, especially when we're price and too many of them at one time. But my numbers on my land offer letters are about 1200. When I send out 1200 of those, I will get at least one land deal that will net me over $10,000 net profit. And that's before I sell it on seller financing, cause I love selling on seller financing. I try and sell as many of my deals as possible because I want that monthly payment. I really want the lifestyle freedom from this and interest is like printing money. Oh yeah, that's interest. We earn these land deals.

Joe: What percent of your deals are you selling with seller financing?

Brent: Well, I would say the last ten deals that I sold in 32 actually call it call it, you know, I'm 40 days. About half of them had some sort of seller financing. Now the I found the more expensive I go when I go over 100,000, a lot of these guys will buy cash because they've got lines of credit. They've got bank money they're building, they're developing, and they're not interested in my 12% interest that I'm going to charge them.

Joe: Yeah, okay. It makes sense. But blind offers. I've always been under the philosophy and I've tested like the check letters we're testing now the range postcard. I have a postcard that gives them a range. I'll buy it between this and this old knife. And that's working really well. We're not getting more calls from that, but we're getting way better quality calls. And basically I'm pulling a list from priced and I'm just using maybe 40 to 60% or 30 to 50% of the priced offer amount. And I'm rounding that up to the nearest thousand dollars. So it's a simple two simple numbers and 75% of the time are low range is too high. But that's fine. We just talked to the seller but I've always thought okay blind offers, I mean, sorry, rather neutral letters are better because that's going to get me more phone calls. I'm going to get more people to call me now. I have more sellers I can follow up with. Right. And I send everybody to a voicemail, so I don't need anybody to answer live. But I've also thought than doing blind offers that takes up so much time at the beginning, right? Wouldn't it just be easier? I find a good county poll, everybody that owns vacant land in that county for over five years mail them all and then I can spend the time making offers on the individual ones that respond back. Is it six one half dozen, the other? Does it matter or what do you think of that?

Brent: Yeah, I think it just depends how you want to do the work on the front end or the back end. I think either way you probably have about the same amount of work. And this is just in my mind, You know, I think you actually have more work on the neutral letters because you're going to have people that just want to reach out and talk. A lot of people are lonely and bored. Some people are frustrated, angry, and they need you to then to. And a lot of people also want you to appraise their land and they want a big bag of money for it. So I really don't want those people taking our time. I want to make as many offers a day as possible. Like our friend Claude Diamond, he says, I make five offers a day, and I got I got to be I'm making like 300 offers a week. How do you do that? And I send letters and it's way easier to when you micro a down to a neighborhood level and you focus on that specific side parcel at a time because that allows you to your pricing to be a lot easier will always be perfect. Never. Never. A lot of times we will renegotiate these. Sometimes we'll just admit like we mess it up and it works.

Joe: So when you're looking down at the neighborhood level, how are you pulling that list out of propstream? Are you pulling up list by subdivision or are you actually drawing a polygon or whatever?

Brent: I draw the polygon, the square, whatever it takes, the rectangle. And sometimes I'll do a couple subdivisions at once. But like Florida, we've got canals, like, no, I'm looking like at my neighborhood, like the land in this neighborhood. It's about 200,000. A lot. But you go one two over and you're talking like 50,000 a lot. So you got to be careful about that in certain areas. Well, I mean, a lot of areas, you just have to know that. So that's why I try and stay micro will be like, will you make that mistake? Yes. But you didn't have all the time to do that due diligence and contact those land sales specialists before you actually pull the trigger on buying it. And I like to pre advertise the land and have buyers lined up before I pay for it.

Joe: How do you do that?

Brent: Yeah, I mean some states I can with a with a certain clause saying that I can market it and put it on the MLS and simultaneously sell it for a profit. I can sometimes pre listed on the MLS while I'm in the process of buying it. I also get a seller's full permission to do this. I never want to blindside a seller. I want them to know that this is how I make my living. This is I'm a guerrilla marketer, so you're going to see people driving by the land. You're going to see it on Craigslist and Facebook and all these places and signs. I'm also doing that ahead of time as well.

Joe: Okay. Now I'm going to pull up a screen here. Okay. And I'm going to share my screen. Hold on one second. Okay.

Brent: I'm excited to talk about the freeways. I'm finding land as well because I have never shared this on a podcast. This is really the first time ever because I've been testing it out myself and I've been using our sharks have been testing it out as well. And it's crazy what I'm seeing with it.

Joe: Well, we'll talk about that in a second here. But I want to I want to see a couple of things from you. How do you find the hot pockets? All right. So give me a state to look at.

Brent: Let's just go. So I like Redfin way better, but we could do Zillow.

Joe: Or read on Redfin, right?

Brent: Yeah, Orlando for sure. I can. I can't really small. I just did some several deals in this area.

Joe: Orlando lower low in.

Brent: Oh I can make it bigger. Okay I can see this now.

Joe: All right I'm going to go to filters, land.

Brent: That's overwhelming the amount of land that's selling in the area.

Joe: Solds, sold last three months. Is that good?

Brent: Let's go to maybe just a month because there's just too much and then exit out of Orlando. Let's see if we can remove that filter because you might find some little pockets of that lake just to the left of Orlando. If you go like north west, right there where your hands up. Let me see. Make us bigger. Lake Apopka. Look at all look at that little cluster below.

Joe: Right here.

Brent: Right there. Yeah. 530. That's a good price range. Some people might shy away from that, you know. 525, 530. Why does that one sell for 63,000? That's an interesting one.

Joe: Might be a tiny little one, but I could I could do some size here. So you're looking for the more expensive land that you can sell for over 200.

Brent: Let's, yeah. And this area I would go for. Yeah. The more expensive parcels right there. Five 5525 190 and this is in 30 days you have four parcels sell in that one little area.

Joe: If I zoom in again.

Brent: Oh I see. Okay. On that island looking thing they're selling for 500 plus. So that's, that's real easy. I'm having to zoom in so I can see this. Can you now go to all filters and look at the last three months. I want to see have more sold on that little island. I haven't mailed that area.

Joe: I like it last three months. Yeah.

Brent: Oh all those. Oh we just down the hot, hot area. Okay.

Joe: This is a hot area. A lot of activity there. Yeah. Okay, Now I can go and I can do a I could do a draw thing like this right now, there's 13 homes in the last three months that have sold there. Let's go the last six months. There's 33. All right. So last six months. And you could if you scrolled all the way down here, you could export those into a spreadsheet right here and kind of get a little average price, average acreage or whatever. All right. So you like this area, let's say. All right. A lot of soldiers like it. Now, what do you do? You go to prop string.

Brent: Yeah. So I would go to prop stream and I would micro down even more. I would just pull that whole island and see, well, first I would I would go back to Redfin and figure out what the average price per square foot or is or per acre whichever.

Joe: Of the solds. So let's do this I'm going to download this right now into a spreadsheet area and open up that spreadsheet in Google Drive. And let's just let's just look.

Brent: And people think I'm crazy for this, but I will individually click on every one of those when I'm learning an area because I want to really see the ins and outs. I know you can do that download but allows really kind of see like, okay, why didn't this would sell for 500 and we don't have time on this podcast, but I like the quick download because that's going to give us an average. But I want to know like why did this one sell for 550? Why did this one sell for 400? You know, what's the attributes? Okay, there's this side of the neighborhood like because I bought a piece of land in Utah a stone's throw away. They sold for almost a half million dollar or some more just because of the news which Florida that's pretty like it's all flat.

Joe: All right so here is lot size and that's square feet. So I'm going to add a new column. Four acres. All right. Equals the square 43, five, six.

Brent: And square feet. Great. Because that's what we're pulling prop is going to give us the the size and square foot.

Joe: All right. So these are the prices and these are the acre. If I wanted to, I could do a new column and let's do price per acre. Right. Equals price divided by acre.

Brent: Your Excel skills are mindblowing.

Joe: Oh they're mad aren't they awesome. They're amazing. But you know what you can get you can get a spreadsheet to tell you anything you want it to tell you. That's the secret right there.

Brent: Yeah. No, I need to take your Excel spreadsheet classes.

Joe: All right. So median average. All right. So the median I hope you can see as I'll zoom in a little bit more here. The median price is 537. The average is 679. I like median sometimes better because it removes the outlier.

Brent: Yes, I always get rid of the outliers.

Joe: So I'm going to I'm going to bring this to here and do here. So the median the median acreage is one acre. Most of these properties are right at the one acre mark and they're selling for if you the median is about $572,000 in it. Yep. Okay, cool.

Brent: So next thing I would do is I'm going to look at that meeting and I that you grabbed the median throughout that the outliers. What are, what are outliers frame is like what does that mean in statistics you always want to get rid of the highest and lowest. Get rid of those. Now I want to see what, 572 for a sale price? I want to I want to backwards plan that or reverse engineer it. Okay. What is what is 6% of 572? I'm going to pull it up and I can calculate here 572 times 6%. I want to figure out what a realtor is going to charge me. So I'm going to take 572. I'm going to subtract $34,320. That's a real estate commission. Then I'm going to take out closing cost. Just call it to say, I don't know, $3,000 for average closing costs of 3000. Okay. And then I want to do. And whoops, what does whoops mean? Just like it sounds like, whoops, I messed up. So I usually take 10%. So if they're selling for what, 572. So for that $57,000. And then I want to put in my profit. So if I'm buying a $500,000 parcel of land, I want to make at least at least 50 or $60,000. This, this a $60,000 profit. And then you can go as far as adding your lending fees for mailing. I don't usually do that, but we can we can do that.

Joe: So I'll Yeah, you're going to you might be borrowing some private money. Yeah. For a few months while you close this deal and turn around and sell it. Right.

Brent: So yeah, exactly. So if you figure out what that 572 subtract the realtor, subtract the closing, subtract the oops and the profit, that's what we're going to be buying this hour by price. So we need to figure out just call it 12% of that on the buyer price.

Joe: Quick here. Minus that. Minus that, minus that, minus that. So you're going to buy it for about four, 1856 for 18.

Brent: And I just paid a private lender the other day 12%, 418,000. So I'm going to figure 12% per annum. So if I run this for one year, if I can't sell this land for one year and I got to pay that lender 12% per annum, I'm going to pay them $50,160. There you already have it. Now, more likely it's not going to go that long, but if it does, I'm already prepared for that. And generally I'm so I'm putting I'm pricing this land at the 30 day blowout price. So we figured all that in there. What's the real buy price now? What does my offer need to be at 367 889889. So now if you take 367889 and divide that by the median sales price of 572.

Joe: Okay 686 that divided by. Five seven, 264.

Brent: So everyone's like, What do I offer? $0.50 on the dollar? $0.40 on the dollar, $0.10 on the dollar. Well, these higher price passes, you don't have to do that. So we're offering $0.64 on the dollar. So now we can figure out that offer price. You know, 64% of that square foot or the acre. And that's when I'm going to pull that list on stream now and offer everyone $0.64 on the dollar in that specific neighborhood.

Joe: And based on the based on this $572,000 per acre price.

Brent: You got it. You got it. So I'm offering, you know, $0.64 on the dollar per acre. And pebble's going to help me build that out and easily mail every single landowner in this area.

Joe: All right. So let's just say it's a .89 acre property, okay? And my price per acre is 572 and my discount is 64%. My offer is going to be 189 times that times that I'm going to offer 327 or 21 on a .9.8, nine acre property. Is that right?

Brent: You got it.

Joe: Something like you got 8.95 acres. I'm going to offer 349. So now this all these deals are in, what, zip code? They're in 3734756. Let's just go to three seven. Well I forgot I might my memory. Three, four, seven. So I'm going to just copy that. Go here to Propstream. And that brings me look at that right there, Jericho Lake. And it's a small little zip code. Real quick, I'm going to look at this zip code on Google Maps. Yeah, it's that thing right there. You see that?

Brent: Yeah. It's not. Not big. A big at all.

Joe: Small zip code. All right, so here we are, a Propstream. It's all Now, what do I do? I'm going to go to a filter. Quick list. Go to vacant land. Is that right?

Brent: Yep. Just vacant land. That's it. And then I'm going to grab that little drawing that pencil out into the vacant land. That pencil in the left hand corner you might have a little bit because you just want to pull the bottom area, that lake, Lake Apopka. I think I'll just.

Joe: Do the whole zip code, just do this whole area.

Brent: You could, but the area we priced was around that Lake Apopka. So you're going to be off on the zip code?

Joe: Well, pretty close right there. That's the area I did. But. All right. So we'll do the pencil. And you're saying just do this area right here.

Brent: Know the lake a little bit. Go further north right there. That lake. This one isn't that wasn't that Lake Apopka? It's really hard for me to see.

Joe: Yeah, I know. I'm sorry. We were doing this whole thing right here.

Brent: And that's the Florida Turnpike. Yeah, just. Okay. There you go, then. Yeah. Mail all around that area.

Joe: All right, so that's this area.

Brent: Oh, you're right. Okay, you're right. Yeah, That whole area right there. My bad. I couldn't see that. I see the turnpike now, so I'm oriented. It really helps if you have two screens, by the way. Yeah, you can kind of like. Okay, that's it.

Joe: Yeah. All right. So there's 841 vacant lots. You're the only filter I'm doing is vacant land. Shouldn't I do, like, should I do minimum acreage? Should I do ownership infill like they've owned it for five years?

Brent: You could do if you really wanted to micro down to what you looked at. Like if you notice our median was, what, about a half acre to almost two acres? What was that?

Joe: Median was 1.02 acres.

Brent: Then I would just pull, you know, half to one acre parcels and nail everyone that owns. I don't care if they've owned it for two days or 25 years in state or of state. Because here's the thing. A lot of our a lot of our friends are only mailing people that are out of state and have owned it for ten years. What about everyone else? What about the people that just inherited the land or are going through probate? Who's now on those guys?

Joe: Yeah. Turn on one point. I want this work. All right, let me try it again. Or three. Try calculator dot net four three, five, six zero times 1.5. All right, so I'm going to do half acre to one and a half acres. Yeah. 65, 340. So like you have to lot size here you have to do square foot. Yeah.

Brent: So what.

Joe: South acre to one and a half acres. Now I have 332 landowners. Normally I would do as I say. All right. I don't want to message anybody who just bought it. But then you brought up a good point. Well, what if they just inherited it? What if they just had a quitclaim deed.

Brent: And they live in the same state?

Joe: Just the shoot. Just mail them all.

Brent: I'll give them my best secrets away. Here. Now. Now all the land is going to be bought. All everyone that was selling to me because I buy a lot of land from people that live in the state. The same state they're selling me the land in as well as know I've only owned it for a couple of years now. You know, Uncle Bobby left it to me and I don't know what to do with it. I don't know what it's worth. Let me know. Works out of their step foot on it. But, you know, I'd like to take some money for it. What would you give it? What would you give me for it?

Joe: All right. Well, I don't know, but I'm going to. I hope you guys don't mind me doing this. Aren't Brent's properties. All right? I'm just. I'm exporting it into a list. Takes just a second, and I'm going to go here and find that and highlight all of them, export it into a spreadsheet. I'm going to go into my Google. I'm going to import it into Google so I can show it to all. There it is. I'm going to open it up.

Brent: You should go ahead and just mail it here to get some deals.

Joe: Well, let's do it. Although I'm going to do probably I'm going to do a neutral letter or I should do my arrange postcard maybe. But, you know, most I usually download my lists from priced. I'm kind of lazy and I like seeing I like what was I say? Oh, I like price just telling me what to offer because I know it'll give me 75% of the way there right now.

Brent: Yeah that will get you close.

Joe: So that'll get me close. All right. So here I'm scrolling over some of these owners. There's a couple of people that own that own multiple properties in this area. Do you remove duplicates?

Brent: Pebble does that for me. They remove the duplicates. And then also, if they own like ten parcels, put it all on one offer one lol for me.

Joe: All right. I'm removing duplicates by column in the mailing address. All right. And that's going to remove. Wow. There's removed 143 now it's only 189.

Brent: Yeah. You might want to pull all 800 of them. That's that that's the problem with nailing micro like this. It's hard to get 3 to 500 letters out a week. It really is. That becomes your neutral letters. If you want to go for mass like mail, an entire county or state, then neutral letters is where it's at because it's really hard to get, you know, look, I mean, you're only mailing like 100 and something letters.

Joe: Well, you could do it every day, right? I mean, that's the good thing about using Pebble for mail. I use Freedom Soft for mail. Like I can mail ten a week a day if I want. I can mail 100 a day and I'm still paying that low price.

Brent: Yeah, and that's a consistent week. It's almost like dollar cost averaging in the stock market. We're consistently just averaging every single day.

Joe: So now I'm, I'm turning these into acres. All right. These are the acreages. I'm going to highlight this, make this yellow. And my offer, my offer price is going to be 64%. 64.2%. You got it. Well, I'm just going to do it like this. I'm going to add a couple of columns here so you guys can kind of see what I'm doing. I'm trying to really keep this simple and maybe I'm going too fast. It's going to be 64.2.

Brent: There's a YouTube feature where you can slow it down to 8.25%.

Joe: Let me just copy this thing all the way down. All of these are very similar in size, aren't they?

Brent: That's great.

Joe: Almost there. Let's go. Let's go. Let's go. Let's go, Let's go. Okay, Pace, I'm going to do one more thing here. Makes it easier. All right, So now I'm going go back up here. My offer dollar amount is going to be 570 (268) 657-2686. A special values. All right. So I'm going to copy that all the way down. Right. So now my offer is going to be the real for real. However, that times that times the anchors, right. 341 Right now I'm just going to double click the lower left. Lower right. And that brings it all the way down.

Brent: And what's powerful is when somebody sends one of these back or signs one of your land offer letters or your blind offer and sends this back, you have an asset, you have pure gold. Now you just need to find someone that wants to buy it for a little bit more or you buy it yourself and sell it. It's just that's powerful.

Joe: I love this too, because you're not most people are out there trying to make offers at 25, 35% and you're just going to get a lot of them rejected here. We're offering more than anybody else, but we know our numbers and we know. All right. Well, if we pay a realtor, if we have closing costs, we have an whoops factor. We want to make at least 10% profit, 20% profit we're going to buy here. We're going to remove some private money like we're covered. We're good. We're good. And also, by the way, you're not going to actually close on this deal until you know you can sell it.

Brent: Exactly.

Joe: How long do you give yourself to close?

Brent: Sometimes you know, if it's if it's a deal or an area I'm really confident in or I have a good land sell specialist, realtor, I give myself 30 days. If it's a new area, I'll ask for more like 90 days. Do I always get it? No. And sometimes, yeah, 90 days is fine. It's crazy. If you don't ask, you don't get it.

Joe: The Land sharks.com/LOL right?

Brent: Yep The land sharks.com.

Joe: Oh I want to get Brent's offer letter. Well you need my phone number. All right.

Brent: Yeah, I'm going to add it to my mailing list and send you a podcast.

Joe: You spam me please.

Brent: That you tell me to mail my list every day. I do it about once a week, and I usually send him a whole selling podcast. One of the it's really cool because it's I usually do a case study every week with one of our sharks. So they give out all their secrets and we usually send that out on a Friday.

Joe: All right, You're sending it to my email. You're going to make me work for this. I have to go get it. Can I show it to everybody? Is that okay?

Brent: Go ahead. I hope I now I'm sweating. I hope it works. Because we've been we've been changing all kinds of technical stuff. And I'm not as tech is you, Joe. So if you can sign off on this.

Joe: Well, it might take a minute here. And I'm unchecking all of my Gmail and it'll come and when I find it, I'll look for it and I'll let you know. All right. So, okay, cool. Now we've we're going to send this out. We're going to send these offers. Do you rounded up to the nearest thousand or do you make them an offer for 434251?

Brent: Oh, no. I do it to the penny. To the penny You do. And you're way more, I guess I know you're all right. And I said I would round down.

Joe: All right so you would do 496867.35.

Brent: Yes. Yes.

Joe: Okay.

Brent: Yeah. And people laugh about that all the time.

Joe: All right. Well, that's interesting. And I know guys that will intentionally leave spelling errors on their letters just to make it look unprofessional and weird. And you get to the head tilt when they get this just, you know, some crazy Brent. Oops. Where do you go? They are. I was working with one of my clients. They've been they've sent out just probably 4 or 5000 letters. No, no, not even that anyway. But they got two deals under contract and they're now I mean, these are really good deals. One of them, they got it under contract for 30. They think they can sell it for 90.

Brent: That's amazing.

Joe: So I said, all right, first thing, go find. And I showed them how to do this. And perhaps I did just kind of what we did, got an area and I said, Pull up all of the investors that have bought vacant land in the last six months in that area. And I want you to send them an unprofessional, ugly letter and write on this letter. And I got this idea years ago from one of the guys used to work with Preston Elliott Freedom Soft. And it was this help urgent. I desperately need to sell my property in this area, blah, blah, blah. I've had it listed for some time now. I can't wait any longer. I've got to get this thing sold today. The title is clear Taxes are paid. Call me right now. Underline your name and your cell phone number. Don't send them to RingCentral or Pat Live or voice mail. Get them on a cell phone number. Take that letter, crumple it up, open it back up, folded into fourths. All right. Stick it in an invitation envelope and address the address on the invitation envelope. Put two life stamps on it. A real stamp and a $0.01 stamp. Right. Send it in the mail. There already. They just started doing this. They're at about 6 to 7% response rates on these things right now, which is really good. 6% will call them back and they've got two solid buyers that love the deal. They're all excited about it. And this thing, when they just totally unprofessional, that's amazing. When they get the envelope, there's some thickness to it sounds crinkly. They open the flap and they see some crumpled up letter in there. They're going to read it right and they're going to be like, Oh, yeah. And they're going to know you're an investor there, and I know you're not really doing this right, but they're going to call you because you're reaching out directly to the ones who have bought vacant land there recently. Yeah. And the fact when this guy told me this was years and years ago, he said, Joe, we sell all of our deals with this thing. That's all we do. Every time we get a deal, we send about 102 hundred of these out. We get a ton of calls and we sell it. So they already got two serious buyers and they got some realtors, two that are helping them. But I think they're going to be able to sell it to one of these buyers first. But the point of that is go unconventional. Do when everybody's going one way, go the other way. You know, you're getting a lot of faxes. Who would have thought fax was still out there? But you're sending you're in the business of sending like going micro looking at small pockets and sending aggressive offers to these little pockets. And that little thing that we just did there, it took maybe half hour to an hour for us to do that. Right. What if you did that every day and just sent out everything? Now, this 189 letters, you put that list, you upload it into something like Pebble or Freedom, soft like I use, click a few more buttons and bam, that mail gets sent. Yeah. Okay.

Brent: And I have to go really soon. Joe. I had, I have, I had to bring one of my children to the doctor, but I want to talk about my macro. I talked about that was a micro strategy that cost money. Now, I want to talk to you really quickly about the freeway or finding deals, but it's a more of a macro.

Joe: Yes, Let's do that real quick.

Brent: It takes a little bit more time and it's a little bit more of a gutsy approach or an offensive approach. But what about all these house wholesalers that have these amazing websites? If you Google, sell my house fast, Orlando, Florida, you're going to see a ton of house buyers that come up on the first page of Google where you can go past a sponsor, scroll past a sponsored and call that first person that pops up like Jimmy buys houses and I call him Hey, Jimmy. Hey, man. I'm looking for any and all land deals in the Orlando, Florida area. And what's really cool, here's a quick tip is if you scroll down and you see he's actually a winner. Haven say I also buy in Winter Haven. You have an amazing website. It looks like you're a successful house buyer. What are you doing with your land deals? I'm a land buyer. Please save my phone number as land buyer. Brent. I want to be your go to land buyer and they're going to tell you what they do with the land. They'll say, Hey, we skip them because we don't know what to do with them. Hey, yeah, those aren't worth our time. Oh, yeah. We've been buying them like crazy. Awesome. Is it okay if I reach out to you in 30 days? Just a quick text to just let you know I'm still buying and that. Holy cow. I mean, if someone spends three weeks doing this all in five a day, six days a week, you will have more land deals. It's building that pipeline. That's awesome. You will have more free land deals and you will know what to do with.

Joe: Do you also call realtors?

Brent: I used to I used to call the Zillow premier agents. And those guys, they pay for those leads and they get mad when they get land deals. But when they have a land buyer like myself, I'm doing a deal right now with an agent, a real estate agent. She brought me that 300 acres I was mentioning to you. I'm going. She's going to get a commission on my buy side. And then when I subdivide it, she's going to get away. Many, many more commissions. So agents are amazing to work with.

Joe: All right. So you're calling wholesalers and realtors, but mainly wholesalers now, right?

Brent: Mostly wholesalers. I kind of slow down on realtors and I actually stop calling wholesalers. There's too many of them. Now I've got to check my Facebook messenger. I've probably got 5 or 6 land deals in my Facebook Messenger right now.

Joe: You mentioned to me real quick and then we'll let you go. I appreciate the time. You had a student one time that was I didn't have much money for marketing and she did exactly what we were talking about. She went and called the buyers who are buying land. What are you buying? And then she went and started texting and calling for sale by owners. Who else? Like just for sale by owners looking for land deals.

Brent: That's Kayla Jefferson. I know exactly who you're talking about. I hope he shares and the shout out. She's amazing. Go get her. She's one of our sharks. She does exactly what she what you just said. She will go to upstream and look at the cash buyer transactions in an area where there's demand. And then she puts in there. She wants to own at least ten or more parcels of land, vacant raw land they bought in the last six months. And then she'll go to linked properties. And then once she finds that area, she will skip trace that person. It's really easy to find them sometimes for free on Google or been verified as a super cheap service. And she calls them and says, Hey, are you still buying land deals? And this the park area? Oh, yeah, yeah. Hey, I see you're paying this much. Are you still paying that much? Yeah. Okay, great. I'm gonna go find some land deals, then she'll go to FSBO for sale by owners at Tab. It's kind of hard to find and she will look for a vacant role land that's been listed for more than 90 days. She'll reach out to that seller directly and say, Hey, I know you're asking this much. I have a buyer ready to buy this. We can do a deal today, if you will take 30,000. And then they say yes or no.

Joe: So she calls there. She's only calling the FSBOs. You calling realtors also?

Brent: Nope. Just FSBOs. And I'm sorry. She's texting. She's not actually calling them. She's her numbers are about three hours of texting. Gets her one deal that will net her probably over $7,500 net profit.

Joe: Only going to 50. Why didn't she go after the realtors who have older listings as well?

Brent: I don't know. I don't know. It works for I have no clue.

Joe: Now, is she licensed or not?

Brent: No, she's not licensed.

Joe: Okay. So she's got a buyer that she knows will buy a property that size for 20 grand. She's then just going and making an offer for 12,500.

Brent: She's building her profit in right away. And she'll assign it. She'll get it under contract with that for sale by owner or seller. And then she'll assign it directly to that builder slash developer slash cash buyer.

Joe: Awesome. So, you know, I don't know if we even need to spend any more time on that. It's just really getting on the phone. It's picking up the phone, calling buyers, finding out what they want. We're looking for more going into where they want deals. And what if she took some of that profit and started mailing those little pockets? Right.

Brent: Exactly. That's exactly right. Because the mailing is like the easy button and that's where we set up the lifestyle. Freedom had those consistent deals. And then then we hire a young engineer to help us with that mailing. And you give him 10% of the profit that you make and eventually you're just you're just a guy looking at deals or she was signing off on them.

Joe: Now I love it. Okay. The land shark sharks the land sharks.com slash LOL. If you guys want Brent's letter land offer letter that's what LOL stands for right and the land sharks.

Brent: While because we just got a smoking hot deal under contract.

Joe: That's awesome love it. Cool. This has been a good little podcast here. I appreciate your time. Brent. I love interviewing other land investors because it's all about collaboration, not about competition, right? And there are so many different ways to do deals. We may think my way or your way is the best. But really, it doesn't matter. Like if you're on the phone, you're talking to 4 or 5 people a day, you're going to do deals, whether it's a FSBO, a realtor, a buyer, whatever. If you're on the phone, you're making offers, you're making money.

Brent: Yeah, you are. And there's so many land deals out there. If you've ever driven across this country there. Just because I do a land deal is not going to take away from you. If I subdivide a parcel land, I'm technically giving you more land deals.

Joe: I love it. All right. And so how can people get a hold of you? Let's say they want to invest with you on one of these bigger deals and they've got a couple of million burning a hole in their pocket. How can they reach you?

Brent: Well, for that, I'll give my cell phone number for that. (863) 801-6959.

Joe: Okay. There you go. Gave you a cell phone number. Dan, good to have you on the show. Are you active on social media? Facebook?

Brent: Yeah, I'm on all the socials. Brent L and yes, the L stands for land. I had my middle name changed. Brent L Bowers. Usually Brent L Bowers one for most socials.

Joe: Cool man. Good talking to you, Brent. And I hope your kid is okay. Just a regular doctor's appointment.

Brent: Yeah, just a little ear infection that won't go away.

Joe: All right. See you, man. Take care, have a good one. God bless. Bye bye.

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