Joe:  Welcome. This is the Real Estate Investing Mastery Podcast. Hey, what's up, guys? Welcome to a brand new YouTube video series I'm doing called the New Market Video Series, where this is something that I haven't done in about, I don't know, three years, where we're going to go in and pick a brand new market, one that we've never done a single deal in, and we're starting from zero, on camera, live. We're going to be picking the market, building the list, sending real actual offers, calling sellers and realtors. No theory, just watch what we actually do. It's going to be so exciting. Thanks for tuning in. Let's go into today's video. I want to start calling some realtors. Now, we're in Marion County, Florida, right? One of the tools that I like to use is Redfin to find older vacant land listings. Actually, let's do homes.com first. Homes.com. Let's say you don't want to do five or 10 letters a day. You don't even have the money for that. You want to get on the phone and hustle. You want to make phone calls. You want to call realtors of older vacant land listings. This is how we do that. We're going to call some of them here. I'm going to call a couple, then Gavin's going to call a couple. We're going to go to land only, and then we're going to go to days onmarket, more than six months. This is land that's been on the market for more than six months. I'm also going to set the price. I don't want real expensive ones. I'm going to say under 100 grand. Look at this. There are 735 vacant lots. Now, let's do only minimum one acre. How about that? Slim it down a little bit. All right. There's 61 lots under 100 grand that have been on the market for over six months. Why haven't these properties sold yet? They're just overpriced. They are overpriced. That's why. I'm going to sort this by newest. These are properties that just hit the six-month mark. This looks like a good one right here. They just dropped their price. This one just increased their price. Maybe we'll call them later. Let's look at this one here. They just dropped their price. Spacious vacant lot in the highly developed residential area with access to major roads. Boom, boom, boom. Let's call this realtor. Now, I'm going to look this property up real quick on Zillow so I can look at some comps while I'm talking to the agent. I'm just going to copy that. Let's open it up on Zillow real quick. All right. This property is in zip code 34431. 34431. Let's just look it up this way. 34431. All right. The property is $40,000. I'm going to reset all my filters here. We're going to do minimum price 40,000, maximum price 40,000. Yep. Southwest Indian Hill. Okay. Boom. Let's open this up. All right. The reason why I wanted to open this one up is we're going to zoom into this area. This property is right here on Zillow. That's the property right there. You could send a message to the agent like this. Hi, I'm an investor and I'm interested in your one acre lot in Rainbow Lakes Estate. Is the seller negotiable on their price? Thanks. Joe. Okay. Hi, Thalia. I'm an investor and I'm interested in your one acre lot in the Rainbow Lakes Estate. Is the seller negotiable on their price? Thanks, Joe. And boom, send a message. Now, we could also call her. So let's call her right now. Chances are real slim. We might have to go through five, 10 of these to get somebody to answer, but that's just kind of the way it works.

Realtor:  Thanks for calling home.com. Press one to be connected with the agent. Thank you. This call may be recorded. At the tone, please record your message. When you finished recording, simply hang up or press pound for further options.

Joe:  Yeah. Hi, my name is Joe and I'm looking at your vacant lot you have on the market in Rainbow Lakes Estate, Florida. It's listed at 40 grand. I'm an investor. I'm interested in talking to you about it. I'm looking to buy some land in the area and I was wondering how negotiable your client was on their price. So give me a call back on this number. I'd appreciate it. Thanks. So I just leave a voicemail. I sent them a message. They'll probably call me back. We can go to the next one. You should call this Essie lady. Let's call her.

Realtor:  Hello, thank you for calling homes.com. This is Sophia speaking. We're trying to reach out to a listing agent.

Joe:  Yeah, I'm trying to reach Essie.

Realtor:  I see. Okay, perfect. We're trying to reach out to Essie about a property in Summerfield.

Joe:  Yes.

Realtor:  Okay, perfect. So what I'm going to do is just ask a couple of questions for Essie, just so she knows what you're interested in, what properties you're looking at, and then I'm going to get you directly connected so she can speak with you. Okay?

Joe:  Yeah.

Realtor: Okay, perfect. So what I'm going to do is just ask a couple of questions for Essie, just so she knows what you're interested in, what properties you're looking at, and then I'm going to get you directly connected so she can speak with you. Okay?

Joe: Yeah.

Realtor: Okay, perfect. And I see you're looking at this property in Summerfield. Were you just looking at this particular parcel or were you looking at an area as well?

Joe: Both.

Realtor: I'm going to make note of that for her, just so she knows. And then when were you looking to buy it? Do you have a timeframe at all or are you just looking around for right now?

Joe: Anytime. I'm looking for good deals. Yeah.

Realtor: Okay. I'll make note of that. All right. Is this your first time buying land?

Joe: No.

Realtor: And was there anything specific you're looking for on a piece of land, like a lot of acreage utilities, anything like that?

Joe: I'm just looking for good deals. Yeah.

Realtor: All right. So what I'm going to do is I'm going to place you on a free fold to make sure you're directly connected to Essie. And since you spoke with me today, you're just going to be directly connected to her at other ages.

Joe: Okay. Cool.

Realtor: All right. Give me one second. I'm going to get on the line for you. I'll put you on the line. If there's no other questions for me, I'll go ahead and let you all discuss. Okay?

Joe: Yeah. Cool. Thanks.

Realtor: Thank you. Hi, good afternoon. This is Essie. How are you?

Joe: Hey, Essie. Good. Thanks for taking my call.

Realtor: Oh, no. Thank you for calling in. How can I help you?

Joe: Well, I saw your vacant lot that you have listed in Summerfield, Florida. I'm an investor. I live in St. Louis, Missouri, and we're looking to buy land in the Marion County area. And I like to sell land on owner financing. So I'm trying to buy land at a good price and then turn around, sell it for the cashflow, sell it with owner financing. So I'm interested in this property and I was calling because I see it's been on the market for a while, I think over six months, and they're asking 90 grand for it. It's about 1.17 acres. Do you know the property I'm talking about?

Realtor: I do. I have it in front of me.

Joe: Yeah. So I sent you a message earlier too, like a text message through homes.com. I'm not sure how homes.com actually does that, if it gets you the message or whatnot. But I was wondering how negotiable the seller was on their price.

Realtor: I mean, we would prefer an offer so that we can actually enter into negotiations only because many people call and they don't have a serious inquiry.

Joe: Okay. I get it. By the way, Essie, I don't have a realtor representing me. So I don't know if your broker allows this, but are you allowed to represent the seller and the buyer?

Realtor: I am.

Joe: Okay. So you can double dip the commissions then, I guess, right?

Realtor: Yeah. Well, basically what it is, is that it would be the commission for both the listing and the selling side.

Joe: Right. Okay. Okay. Because I don't want to waste your time with… I'm an investor and I got to buy good deals and I don't want to waste your time with writing up a contract if we're miles apart. So that's kind of why I'm asking you about this first. But I like this area. The pictures look nice. It looks like a nice area. Can you tell me a little bit about it? And can you tell me maybe why it hasn't sold yet? Is something wrong with it?

Realtor: There's nothing wrong with it. It's just, honestly, most people are looking to be able to finance it versus being able to buy it outright cash.

Joe: Right.

Realtor: So the inquiries that we've gotten in the past, that's what they're asking for.

Joe: Because that's why I want to sell land with owner financing, because there's such high demand for it out there. You know what I mean?

Realtor: Oh, no, there is.

Joe: Yeah. Yeah. So are they… I know you can't tell me what they could accept, but are they negotiable on the price? Because it's been on the market over six months. And I'm wondering if there's nothing wrong with it. It probably hasn't sold yet because it's overpriced. Do you think so?

Realtor: I would like to say so.

Joe: Yeah. I'm just looking at solds in the area. And they're asking, I think, $76,000 an acre. And I look at active listings right now, and these are properties all over the place. If I do maximum, let me just adjust this here. If you look at similar size properties, there's active listings right now that I could buy for $43,000 an acre, $74,000 an acre. And if I look at solds, I could buy… There are some solds recently in the area for $20,000 and $50,000 an acre, so way less. What I could do, and I don't know if this will be okay or not, but I mean, I could look at some numbers and then just maybe text you a number. And so you don't have to write up a contract. You can just ask the seller, would you accept something like this? And then they can say yes or no. And then we could write up an offer. Would that be easier if we did that?

Realtor: Yeah, that's perfectly fine. And I can pull some comps as well, and that way you're within the right area. Because, I mean, Marion County is very big, so comps are usually within the remote area. In this case, it might be that you have to search within a two or three mile radius, because almost all of the lots out there are going to be slightly over an acre. So that being said, it's not like when you're in a neighborhood where they're a quarter acre, and then you're obviously going to have more properties and less of a radius.

Joe: Yeah. But listen, if this deal doesn't work out, I'm always looking for good deals. And I wanted to get on your buyers list if I could. And if you ever find any off-market vacant land deals, I pay 10% commissions on deals that realtors bring me, off-market deals. Would you mind adding my name and number to your, add me to your phone as Joe Land Buyer or something like that? You probably don't like listing these properties. I get it. They sit forever. You don't make much in commissions. I'm always calling realtors in areas I like to buy land in and say, hey, listen, if you find anything off-market that I can buy at a discount, if you send it to me, I can pay real generous commissions. You might even know some properties that are on the market where the sellers might be getting motivated and are willing to discount their properties. Do you know any like that right now, maybe?

Realtor: Off the top of my head, no, I do not. But I can definitely keep an eye out and have your number as a resource to refer that to.

Joe: Okay. Okay. Well, because, listen, let me sharpen my pencils on this. I don't want to waste any more of your time, Elsie, I'm sorry on this deal. But I could maybe shoot you an email with a number that I would be comfortable with and offering for this property, but they're probably going to reject it, to be honest, right? I'm just looking what I would need to buy. I think I would need to be selling it for what they're asking if I'm going to be selling it with owner financing. You know what I mean? Yeah. But maybe there are some other properties that I could look at. So if I could just email you my contact information or text you, what would you prefer?

Realtor: Either or works for me. I check my email regularly and my text messages as they come in.

Joe: Okay, great. And this is my cell phone number. So just add this to your contacts and call me Joe Landbuyer. And if you find any good deals, off-market deals, don't send me what's already on the MLS because obviously I can see that. But if you come across a listing where the seller says like, hey, I just want to get rid of this thing. Do you know any cash buyers? I pay 10% commissions. And then maybe even if I get a deal and I want to sell it with owner financing on the MLS, maybe you could list it for me after I buy it. You know what I mean? All right. Well, Elsie, it was good talking to you. I thank you for the time. I really do appreciate it.

Realtor: Likewise. Thank you. And have a great day. I look out for your email and your message.

Joe: Okay, good. I'll send you an email and a text. I'll talk to you soon. Bye-bye. Okay. So easy. Good job. It was that hard. Have I ever had a realtor get mad at me for offering them 10% commissions? No, I've gotten realtors mad at me when I lowball them, but like, I just looked at the numbers. I said, you know, I understand they're asking 90, but like, man, I'm seeing properties that have sold for cheaper. Is there something wrong with the property? Why it's been on the market for six months. Is something wrong with it? They don't accept my offer. That's fine. Just throw, you know, just don't worry about it. But if you find any other off market, vacant land deals, will you please let me know, I'll pay you 10% commissions on those deals, right? Yeah. That's going to get her interested. But now the key to this is the follow-up. So what am I going to do every 30 days? I'm going to send a text and an email and maybe even ringless voicemails. Now imagine guys talk to five realtors a day. That's 20 realtors in a week, 20 realtors in one week, in a month, that's 80 to a hundred realtors that you've talked to in one month. Now you follow up with them 30 days, 60 days, 90 days later, now you have 250, 300 realtors. They don't like listing land. Now they have your name, Joe Landbuyer. If they ever come across a seller who wants cash, they want to sell quickly. Who are they going to call? They're going to call you because you pay such generous commissions, 10% commission. So you don't have to do any direct mail if you don't want, just call realtors of older vacant land listings. Now my chances of getting this offer accepted at such a low ball price is slim to none, but I don't care. The main reason I'm calling them is because I'm building relationships and networking with realtors. Because when people want to sell land, the first people they call is a realtor. They don't call land investors like you and me, they call realtors. These realtors don't want to list them, they just want commissions because they sit forever and they make maybe $1,000 commissions. If this lady brings me a deal, I'm going to pay her $2,000 to $3,000 in commissions for just bringing me a deal. That's a good deal. And that's the whole system. Pick the market, build the list, send the offers, work the phone. We did it all in a brand new market starting from zero. Now it's your turn. All right, go flip some dirt..