Whether you think that the coronavirus scare is an overreaction or not, there’s a lot of fear and uncertainty in the market right now. This is definitely the time to be nimble and to readjust your business plan. I’ve had some great success flipping rural land out in Oregon and Colorado, so in this podcast, I explore that idea some more to give you some ideas of how to zig when everyone else is zagging.
More than just preppers are looking for vacant land. Hunters and outdoor enthusiasts are also looking for vacant rural lots. They might want the land to build a cabin someday, maybe shoot their guns, or drive their ATVs all over. But you know what? It’s a demand that’s come roaring back with this virus stuff.
There are a lot of disadvantages to being stuck on one single kind of deal, and you’ve got to be nimble enough to pivot. If you’ve been offering 80 cents on the dollar for homes in Southern California, then what will you do if the cash buyers disappear. I talk about all of the different ways that real estate might be impacted by a downturn, and I give you some ideas of where you could pivot to next.
For me personally, I’m going to spend some more time teaching about lease options and land investing. I think that education about different real estate deals is really vital as people maybe shift out of the stock market and into real estate.
Networking, masterminds, and coaching are going to become even more important to you. Just getting out there and talking to different people is going to help you keep your ear to the ground to hear what’s coming next.
Stop thinking of this as the end of the world. It’s not! It’s an opportunity, and you need to be ready for it.
Listen and learn:
- What kind of response rate I have for marketing on vacant lots.
- The reasons that people want to buy a vacant lot can vary widely.
- If you’re stuck on one aspect of this business, I offer a slew of places you can pivot to.
- How coaching, networking, and masterminds will help you in the coming days.
- Why you should consider lease options and other creative financing deals.
Mentioned in this episode:
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