I finished saving $10k to start investing in land this month. I am going through the REtipster MasterClass now and have read a few books on land investing which has helped me develop a good understanding of the land investing basics.
After listening to BiggerPockets show 730 “How to Start a Real Estate Portfolio with Just $10k”, I thought members of this community might enjoy sharing how they would start investing in land with just $10,000?
I think the newbies in this community would find any input from the veteran land investors very helpful!
@retipsterseth@Jarenb7 this might inspire a new episode for your YouTube channel :). I am a subscriber there as well.
@wbroberts thanks for sharing the idea! That is a fun topic to think about. There are a lot of different directions you could go with $10K, believe it or not, depending on what kind of marketing you pursue, whether you decide to partner with others, or try to assign deals without using any of your own cash. Kind of reminds me of a “choose your adventure” type story.
@wbroberts
That is the exact amount that I started with two years ago. After a setback in my first year I was “back in the saddle again” at the beginning of 2022. My testimonial is located on Seth’s website. I started by shopping larger deals so that there would be enough profit in the deal so that I could bring in a funding partner. I found this to be invaluable, yes it is expensive but, it’s kind of like having a big brother (or sister) looking over your shoulder to double check your deal! I am not bragging but that 10 grand turned into $90,000 and one deal is still on the market for sale with a realtor. And I just closed on the “buy side” of my fourth deal which was also the first deal I funded personally. If you want to know my secret? After I read chapter two of the Masterclass… I sent out 7000 blind offers… on Blind faith in Seth’s course. And that’s where the first two deals came from. I hope this helps and if you have any questions please feel free to message me. I wish you luck. Bill Tanner
@bootstrapbill Bill, thank you for the encouraging response. I apologize for not responding sooner, I just saw the message. I have spent the last couple of days compiling a list of about 500 properties for my first direct mail campaign. I am considering sending out each mailer with a range in offer price from about 10%-20% of the assessed value of the property. This is on the low end of the offer spectrum I have heard from different resources, but I want to be conservative since I am starting out with limited capital. If I receive little to no responses, I will increase the offer range with subsequent direct mail campaigns. Anyway, this approach seems solid in theory, so I guess its time to test it out! I may take you up on the direct message offer for a second opinion on potential deals I receive from this first campaign. Thanks, and happy hunting!