Hello, new here. I have been looking for ways to ditch my 9 to 5 job for a couple years. I tried a few ideas out there and thought about doing other ideas but none of them fit my criteria. I stumbled on land investing by accident and after looking further into it this is business fits every criteria I have been looking for. It’s still hard to believe that people are truly making a living doing this. We’re anyone of you in my position a couples years back? I guess what I’m looking for is some reassurance that’s this is actually real. Started reading Seths blog and looking to start sending my first mailers in a couple weeks. Okay excited to be park of this part of this community.
Regards, Roberto
Welcome @roberto12reyes. It’s real alright, but not everyone has the right stuff to stick with it over the long haul. Some people get distracted by other things or bored with doing land deals over and over again, but when a land investor can find their sweet spots in the right markets and avoid shiny object syndrome, they can make a lot of money at it.
@charlotteirwin Thank you for your reply. I’ve researched a lot on the process of finding land, buying and selling. The part that is hard for me to understand is all the forms needed for the buying, selling and the financing options like the buyer being able to pay over time. I know that each state has its own laws, how did your/others get the required forms needed? Lawyers?Attorneys? Courses online?
@roberto12reyes the first seller financed deal usually feels a little overwhelming, for the reasons you mentioned. Probably the first step is to talk with a local attorney or closing agent and ask them what’s the most common type of loan instrument people use for seller financing in this state. Here’s a blog post that will walk you through the questions pretty well.
Depending on whether you go with a land contract (contact for deed) or deed of trust, here are a couple of blog posts that will walk you through most of the closing steps:
Land Contract: https://retipster.com/closing-in-house-seller-financing/
Deed of Trust: https://retipster.com/deed-of-trust-closing-tutorial/
If you close with a title company or attorney, they’ll handle most of this stuff for you - these steps are just here to help you understand what’s happening behind the scenes (and/or if you decide to try and close it yourself, this will get you most of the way there).