The three keys to success are marketing, automation, and delegation. Using automation requires you to find the best tools to streamline your business, so I’m really excited today to talk about the automation that Howard Zonder has created with his Land Speed business.
For new investors who are just getting into land investing, Howard and I talk about some different strategies for figuring out where to buy. Howard’s had great success in Colorado and Utah, but you might be more interested in infill land. Infill land is smaller lots in a town or around a town in the “doughnut” area. Howard gives his thoughts on this as a long term strategy.
If property taxes are really high, that may not be the best place to start your land investing journey. If property values are really high, or bureaucracy is common in that area, those also might be signs that that’s not a great place to start. There are a lot of lands investing courses out there that tend to focus on the same handful of counties. There are tens of thousands of counties across the U.S. where you can turn a profit. Howard and I talk about our criteria for where to look for empty lots.
Constantly mailing in small batches creates some good business flow for Howard. He talks about how this strategy allows him to adjust bad offers or rely on data instead of blindly mailing out thousands of letters with no feedback. And because his software Land Speed Price Boss pools together all of its mailings, he can still save money on the bulk mail price.
This attention to data is why Howard created Land Speed. Hard numbers don’t give you a rough idea. Hard numbers give you solid data to make good business decisions, and to help you find the best place to invest inland.
Watch and learn:
Listen and learn:
- Do tax assessed values play into land comps?
- How I teach my boys to find comps for vacant lots.
- Your offers are only as good as your data, and outliers will wreck that data.
- Everyone figures out investor comps a little differently, and Howard walks me through how he comes up with his comps.
- Break away from the land investor pack by investing in different counties.
Mentioned in this episode:
- Apple Podcast Reviews
- Land Speed
- Land Biz Automation on Facebook
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