Hi all! As a little background to my questions - I started land flipping when I was stuck at home for the pandemic lock-down in 2020. I purchased the Master Class, listened to the entire thing a couple times over, and then just ran with it.
I’ve had some reasonable successes, made some mistakes and lost a little money on some deals, and learned a lot doing both. I’ve got about $2500 coming in monthly from notes, and I generally sell one or two properties each month (either cash or another note). I’ve got my processes fairly well dialed in, but I’ve been mostly buying properties for $1500 to $2000 and selling them for around 5K to 6K.
I’d love to step up in price points but don’t know how to transition.
Has anyone been in a similar situation recently but found a way to scale? Any specific advice on the mindset to do this, or the best way to make this switch? Any podcast episodes I should listen to?
Hey @troy - thanks for sharing! It sounds like you’ve got a good thing going.
I hear you on scaling… as for how to do it, it’s probably as simple as filtering your list for properties that fit into the market value range you’re looking for. In other words, stop sending mail to properties below $10K (or even $20K, depending on how high you want to go). Once you’ve targeted the bigger properties you’re going for, you would just adjust your offers accordingly.
What do you think is holding you back from doing this? Is it not knowing how to do it, is it a lack of funding, or is it more about believing you can do it (or something else, perhaps)?
Hey @retipsterseth - thanks for answering. That all makes sense and kind of what I figured. I’ve been doing the same thing for so long, I guess I’m just nervous about changing it up. I figured that I’d post something and see if anyone had been in this situation and successfully made the jump.
Financing is certainly a concern. I’ve always used my own cash and although I’ve built up some business savings, I should probably look into getting in contact with someone that could help.
On a side note, thanks for all you’ve done here for me personally and this community. The master class was worth every penny, and having this forum available to search through is amazing.
@troy thanks for the kind words! I’m glad you’ve found some good help in the content. It’s a lot of work to compile all of that information, and it’s great to hear when it’s served its purpose.
I understand the nervousness about changing it up, that’s pretty normal… but change is a normal part of any growing and evolving business.
