Hi Everyone - I have been doing real estate as a side hustle for about 10 years. I’ve done single family, vacation rentals, and recently my first commercial property. I’m lookIng to diversify further and am interested in land. I live in Texas and have a ton of resources in the area so I think I could do well here. I’m looking for some advice on how to get started in land. I am a frequent podcast listener and read some of the forums. I was thinking of taking some courses to get started learning more but not sure where to begin. I would be interested in getting some advice on this! Looking forward to being part of the community!
@beardedcoffeeguy welcome! What are your questions? Is there anything you are confused or wondering about? Be specific about what you want to know and we’ll try to help!
Hi @charlotteirwin ! Thanks for the reply! When it comes to land it seems that everyone is sending out mailers first and targeted the tax delinquent property list. Listening to some of the podcast especially Eddie Speed and Doug Smith interviews the both mention paying close to market and just looking at the MLS. Is this just because they are doing bigger deals? Are the mailers mainly for smaller land flips? Working off the MLS is something I understand well and have the resources for. Mailers is something I know nothing about. I’m planning to do some training on land investing and just want to make sure I focus on the right areas . Pretty much all the courses I have seen so far seem to focus on mailers, offering 50 cents on the dollar and then flipping. If this is the best route then I’ll absolutely do it but just testing this theory before I dive in.
Hey Garrett, welcome to the community! Sending out mailers is what most new land investors due, but there are many other ways to purchase properties. You can also try auctions and tax deed sales. It all depends on how much capital you have to buy properties with. It’s a bit harder to land good deals on the MLS for a quick flip, but it all depends on your end goal with the land. R.E.Tipster has a ton of information on the business. My wife and I have a couple of vacation rentals in Florida and we have been doing land part-time. Feel free to reach out to me anytime with any questions. Best of luck to you in your land investing journey!
Thanks @mikedroc23 . I have looked in to tax lien sales as well. I’ll dig more into that side and reach out if I have any questions.
@beardedcoffeeguy said in New to land:
Listening to some of the podcast especially Eddie Speed and Doug Smith interviews the both mention paying close to market and just looking at the MLS. Is this just because they are doing bigger deals? Are the mailers mainly for smaller land flips?
It’s because they’re doing some kind of value-add. For Doug, it sounds like the value he’s added is in subdividing the land and then financing the sale for each individual buyer.
I don’t know if Eddie is doing any subdivides, but it sounds like he’s selling AND buying with owner financing, which means he can make money by charging a higher rate on the sale than what he’s paying for the buy.
When you’re willing to do these kinds of specialized strategies, you can get away with paying a higher price when you acquire. Just realize, you need to be ready to play those games if you aren’t willing to force a lower acquisition price.