Feb. 26, 2025
Ep 122: Unlocking Success with Land Flipping and Integrity $10,000 First Land Deal
Today, we explore the rewarding yet challenging world of land investment through the story of my first property purchase, revealing invaluable lessons learned along the way. From understanding the emotional aspects of real estate to assessing true profitability, the journey outlines critical tips for prospective land investors.
• Buying land offers unique advantages over traditional home investments
• Emotional attachment plays a significant role in house transactions
• Distinguishing between active and passive investment strategies
• My personal journey with a challenging 7.54-acre property
• Marketing strategies and pricing adjustments over time
• Tax implications and management costs of land investments
• Importance of perseverance and adapting to market conditions
• Future insights into additional land investment experiences
This podcast is sponsored by Starvelle Talent Group. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Chapters
00:01 - Real Estate Investment Strategies - Land
09:14 - Property Investment Strategy - Closing Success
18:14 - Real Estate Investment Tips and Strategies
24:22 - Effective Land Investing Strategies
Transcript
WEBVTT
00:00:01.100 --> 00:00:05.692
Welcome to the Thank Generation of Wealth podcast, and this is episode number 122.
00:00:05.692 --> 00:00:07.826
I am your host, amir Estimo.
00:00:07.826 --> 00:00:14.893
Thank you for tuning in to today's podcast episode because you know you could be doing anything in this world.
00:00:14.893 --> 00:00:33.756
The fact that you're listening to this podcast episode is much appreciated, and I hope today's episode is much value to you, because we're going to talk about land and I'm going to actually walk you through a case study of my first property that I bought a land property that I bought.
00:00:33.756 --> 00:00:47.225
So if anybody's ever interested that listens to this podcast not sure wherever you are, but if you are here in the States, you are interested in buying land this could be something you can look into, so let's get started.
00:00:47.225 --> 00:00:48.066
Anyway.
00:00:48.066 --> 00:00:51.069
So today's podcast, again, we're going to talk about land.
00:00:51.069 --> 00:00:53.331
Now let's get started.
00:00:53.331 --> 00:01:13.504
So now, if any of you guys know about land or anybody know about real estate real estate there's different types of assets in real estate.
00:01:13.504 --> 00:01:15.391
There's obviously home, there's multifamily, there's land, there's self storage, etc.
00:01:15.391 --> 00:01:15.531
Etc.
00:01:15.531 --> 00:01:15.611
Etc.
00:01:15.611 --> 00:01:20.683
So land I mean not like, but real estate is has made more millionaires than we can even count and it's a very good niche to get into.
00:01:20.683 --> 00:01:22.367
But you have to know what you're doing.
00:01:22.367 --> 00:01:23.728
Now.
00:01:23.769 --> 00:01:27.635
The reason I chose land was I started off in housing.
00:01:27.635 --> 00:01:28.596
I was.
00:01:28.596 --> 00:01:38.405
I bought a course, looked into it was a camera, the company it was Tom Coral Coral I hope I said his name right but wholesaling for houses.
00:01:38.405 --> 00:01:41.414
I think I bought the course it's.
00:01:41.414 --> 00:01:48.240
It was okay, it was nothing that you probably couldn't see on the internet, that it did some research.
00:01:48.240 --> 00:01:58.025
But with with, uh, houses, what I came to find out is I didn't, because houses has a emotional attachment to it.
00:01:58.025 --> 00:02:07.468
When you sell someone, when you're trying to buy a property from someone, especially when it's a house, the thing is is is that there could have been.
00:02:07.468 --> 00:02:15.610
They could have raised their kids in that home, they could have that could have been their first home, et cetera.
00:02:15.610 --> 00:02:22.165
So now, when they have to eventually sell this home for whatever reason, there's an emotional attachment to it.
00:02:22.165 --> 00:02:30.256
And then the fact that it depends on what process did you want to go, with an active or passive investor?
00:02:31.221 --> 00:02:40.747
Now, the difference between the two is, if you're active meaning that, to use an example, that means with houses, right, you would you are known as a flipper.
00:02:40.747 --> 00:02:46.681
A flipper would buy the home very cheap, needs a lot of work, I wouldn't say very cheap.
00:02:46.681 --> 00:02:49.734
Cheap to a certain degree, depending on market Meaning.
00:02:49.734 --> 00:02:57.013
They would buy that below market value because the home may need a lot of work depending on bathroom et cetera done.
00:02:57.013 --> 00:03:07.995
Then you take that, you remodel it, you put whatever money it takes to remodel a home to bring it up to market value, and then you turn around and sell it.
00:03:07.995 --> 00:03:25.895
So that's considered an active investor, meaning that you have all your money is pretty much transactional, whereas if you buy a home, you can do the same thing remodel it but you may turn around and rent it out to someone else.
00:03:27.300 --> 00:03:37.134
The thing about it, though unless you buy the home cash, most investors in this space use a bank financing to close on the deal.
00:03:37.134 --> 00:03:42.012
Now, if they're using a bank financing, you're going to have a mortgage on the property.
00:03:42.012 --> 00:03:45.270
So that means you can probably charge someone.
00:03:45.270 --> 00:03:54.439
You can probably, let's say, have a mortgage of $1,000, then you charge rent $1,500.
00:03:54.439 --> 00:04:04.122
But what you have to consider is, if you are not self-managing the property itself, you're probably using a property management company which is going to charge you a fee every month.
00:04:04.122 --> 00:04:09.312
So let's say that fee is, example, a hundred bucks, especially in today's economy.
00:04:10.241 --> 00:04:15.102
Then you have to take an account If you're not the one who's coming in again cutting the grass.
00:04:15.102 --> 00:04:18.632
That could be another 20 or 30 bucks, whatever that is.
00:04:18.632 --> 00:04:21.144
So you can end up 50 bucks.
00:04:21.144 --> 00:04:27.242
That $500 that you would have made probably can end up being like 350 a month extra for you.
00:04:27.242 --> 00:04:29.129
And then you have to take an account.
00:04:29.129 --> 00:04:50.033
You have to put that money into a reserve account, because if anything breaks down at that home depending on what state you are, if anything breaks down and also how did you have it set up when you initially, when you initially rented the home to the person then what's going to happen is you have that comes out of your cost.
00:04:50.033 --> 00:04:55.346
So if you don't have a reserve account, then people are just going to.
00:04:55.346 --> 00:04:59.521
You know this stuff is going to have to come out of your pocket to fix.
00:04:59.521 --> 00:05:01.345
So you got to keep that in mind too.
00:05:01.345 --> 00:05:05.793
But but you know every month you're going to get $350, whatever that is.
00:05:06.939 --> 00:05:14.372
Now, with land it works the same way, but the difference with land is you can be known as a flipper.
00:05:14.372 --> 00:05:22.226
So if you are known as a flipper at land, that means you buy the property again at you buy it at a discount.
00:05:22.226 --> 00:05:24.163
Then you really don't.
00:05:24.163 --> 00:05:27.141
There's really not much value add, unless you're going in there.
00:05:27.141 --> 00:05:30.588
Depending on where the property is located, do you buy it?
00:05:30.588 --> 00:05:32.492
Do you maybe clear it?
00:05:32.492 --> 00:05:34.706
Do some clearing on the property?
00:05:34.706 --> 00:05:42.487
Maybe let's say the property may have some title issues, maybe I actually get a survey done on the property.
00:05:42.567 --> 00:05:46.120
So there's those type of value ads you can do with Lend.
00:05:46.120 --> 00:05:54.425
Then you can turn around and sell it to an end buyer, whereas with Lend you can also be known as a passive investor.
00:05:54.425 --> 00:05:56.250
I mean you can buy the property outright.
00:05:56.250 --> 00:06:13.903
Maybe let's say two $3,000 and let's say one acre I'm just throwing numbers out, this is not actual numbers and then you can charge 40, 50 bucks a month, a hundred bucks a month, and then you know every single month you're going to get a hundred bucks a month.
00:06:13.903 --> 00:06:24.689
The drawback with that is, since it's not really a big expense if someone turns around and says, hey, I don't want to get on, pay whatever.
00:06:24.689 --> 00:06:28.714
You don't have a system set up unless that person doesn't pay.
00:06:28.714 --> 00:06:42.744
Now you know, ok, you lose that hundred bucks, but the good thing about it because, depending on how you set the deal, you may say, ok, such and such, you haven't paid.
00:06:42.744 --> 00:06:45.591
When you pay, finish, pay for this property.
00:06:45.591 --> 00:07:00.504
Then I'll give you the deed and if you have it set up like that and let's say you were doing some type of setup to that extent, to that, to that setup, then what you can do is foreclose on the property and take your property back.
00:07:00.504 --> 00:07:01.307
So there's.
00:07:01.307 --> 00:07:09.932
I don't want to get too much into that part of it, but I'm just giving you a gist of what's an active versus passive investor and how it works in land also.
00:07:11.321 --> 00:07:16.108
Now, this property I bought was 7.54 acres.
00:07:16.108 --> 00:07:21.783
The property was located in Yancey County, north Carolina.
00:07:21.783 --> 00:07:27.846
So I'm not sure who, sure how many people are familiar with North Carolina, but it was in Yancey County, north Carolina.
00:07:27.846 --> 00:07:35.964
I got this property through mailers, so what I would use is a mail house company, the company.
00:07:35.964 --> 00:07:48.963
What I would do is I'll buy a data from some company it could be like DataTree Price these are the popular ones and then scrub the list.
00:07:48.963 --> 00:07:54.574
Obviously do not mail, so I remove everybody who doesn't want to be mailed.
00:07:54.574 --> 00:08:01.800
Sit out a mass mail in that particular area and then see if anybody's interested in selling their property.
00:08:03.365 --> 00:08:07.615
The thing about mailers is especially back in the days when I did it.
00:08:07.615 --> 00:08:08.980
Now is very expensive.
00:08:08.980 --> 00:08:11.644
I haven't mailed almost a year.
00:08:11.644 --> 00:08:12.848
It's been a while.
00:08:12.848 --> 00:08:16.194
Last time I mailed, I did a test for like a thousand.
00:08:16.194 --> 00:08:27.223
I spent like a thousand bucks and then I didn't get barely any response, barely any response.
00:08:27.223 --> 00:08:28.406
And then what was happening too, was people were actually.
00:08:28.406 --> 00:08:30.149
People were oh man, this property is not worth.
00:08:30.149 --> 00:08:39.221
You know, back in the days someone okay, yeah, you know, I'll sell a property.
00:08:39.221 --> 00:08:40.322
Now people has actually gotten smarter.
00:08:40.322 --> 00:08:40.823
So what's happening?
00:08:40.823 --> 00:08:49.480
Especially in this space, a lot of people are mass mailing and they're just buying data and just sending it and they're sending offers and they're really below market value.
00:08:49.480 --> 00:08:55.974
So people are coming in and saying, ok, well, you may send a mailer for one acre, four thousand dollars.
00:08:55.974 --> 00:09:00.289
Someone's coming back and saying, oh no, this, I want 20K for it.
00:09:00.289 --> 00:09:03.609
And oh, I was getting barely any response.
00:09:03.609 --> 00:09:07.143
So I actually shut down the whole mailing completely.
00:09:07.143 --> 00:09:12.864
And now I'm pivoting to someone else, which I was something else which I'll share with you guys on a later podcast.
00:09:14.469 --> 00:09:16.956
Now I bought this property 7.45 acres.
00:09:16.956 --> 00:09:21.024
I bought it for actually 18 to 18,200.
00:09:21.024 --> 00:09:35.214
Now, when I first initially bought the property, I didn't buy the property until six months later, and the reason I was doing that was because I when I got it under contract.
00:09:35.214 --> 00:09:41.962
So you do what they call a purchase agreement, meaning that between you and the seller, on this date you are going to execute.
00:09:41.962 --> 00:09:45.538
Let's say, six months from now you're going to execute.
00:09:45.538 --> 00:09:48.245
It could be three months, it depends however you want it set up.
00:09:48.245 --> 00:09:51.942
You're going to execute on this deal and you're going to buy this property.
00:09:53.365 --> 00:09:58.539
I put it out in the market originally and I got a lot of feedback.
00:09:58.539 --> 00:10:00.644
Some people like this, some people don't.
00:10:00.644 --> 00:10:04.370
The issue with the property was it was number one.
00:10:04.370 --> 00:10:11.301
The property was steep, so in this area, most of the properties in this area OK.
00:10:11.301 --> 00:10:13.485
So going back to the seller who sold it to me.
00:10:13.485 --> 00:10:26.921
Eventually they sold it to me and the reason they sell it because the wife needs extra money, because the husband actually own more acres in that area and just was kind of selling off his assets.
00:10:26.921 --> 00:10:33.613
He's getting old, so he just needed some of the money the again going back.
00:10:33.613 --> 00:10:43.394
So I had the property and then I bought the property but it was six months later.
00:10:43.434 --> 00:10:49.105
So I and the reason I actually ended up closing on this property, because I wanted to keep my word.
00:10:49.105 --> 00:10:55.442
I didn't want to be a wholesaler, I wanted to actually be an investor.
00:10:55.442 --> 00:10:57.889
So I got some feedback.
00:10:57.889 --> 00:11:00.982
Some people said it was good, some people said it wasn't.
00:11:00.982 --> 00:11:05.235
But I knew in my heart, I knew the property can sell.
00:11:05.235 --> 00:11:27.535
I know I can sell the property because I remember listening to a gentleman on a Tik TOK and he says all properties, all land, sells, which is true, because I'm going to do three more case studies of properties I sold and I will give you guys and actually might do a YouTube video too, so you can actually see a visualization for some of you guys who may be visual learners like me.
00:11:27.535 --> 00:11:30.144
Now the property again.
00:11:30.144 --> 00:11:36.083
I bought it for 18 to so after taxes and all closing costs it was probably like another 1500.
00:11:36.083 --> 00:11:39.110
So basically I was all in for 19, 7.
00:11:39.110 --> 00:11:47.364
I bought the property it was actually a property I own in North Carolina and I was thinking I was like man, should I kept it or not?
00:11:47.364 --> 00:11:54.365
I wasn't real sure, but I was like you know what, at least let me close the deal with the sellers because I want to execute.
00:11:54.365 --> 00:11:55.975
I didn't want to wholesale.
00:11:56.035 --> 00:12:05.575
So if any of you guys don't know what wholesaling is, wholesaling is when you buy a, let's say again in real estate, you get a, you find a discount, you find a property, buy a.
00:12:05.575 --> 00:12:06.197
Let's say again in real estate.
00:12:06.197 --> 00:12:09.365
You get a, you find a discount, you find a property, but you actually may not have the money to close on the property.
00:12:09.365 --> 00:12:19.961
So what you do is you find an end buyer and you assign them a fee because as a wholesaler, you probably the one who did all the brunt work, and then you send it to an end buyer.
00:12:19.961 --> 00:12:22.788
The end buyer then buys it for you.
00:12:22.788 --> 00:12:27.076
They are actually the one who closed on the deal, not you, but they send you a fee.
00:12:27.076 --> 00:12:45.423
The issue now with wholesaling is that a lot of people have done it so wrong and unethical that now most states, or some states, are starting to require that you actually have a license to facilitate a real estate transaction.
00:12:45.423 --> 00:12:57.861
So now that's the issue now with wholesaling, and now it gets a bad name because you have a lot of unethical people who are doing it and on top of that they may say I'm gonna buy the property and they never do.
00:12:57.861 --> 00:13:02.804
And if the property, if it's a bad deal, they just walk away and then they leave the seller hanging.
00:13:02.804 --> 00:13:14.265
So some states in the US are requiring you to actually have a license to actually facilitate a real estate transaction.
00:13:15.006 --> 00:13:16.115
But what I did with this deal.
00:13:16.115 --> 00:13:18.179
I was not a wholesaler.
00:13:18.179 --> 00:13:21.024
I did not want to go wholesaling route.
00:13:21.024 --> 00:13:27.556
If I closed on a deal, I would actually double close, meaning that I would still buy the property.
00:13:27.556 --> 00:13:33.607
But I will align the seller in buyer transaction one day, so I would buy the.
00:13:33.607 --> 00:13:43.702
Let's say, in the morning I buy the property from the seller, the property, the deed, gets transferred in my company's name, the LLC, then the LLC owns the property.
00:13:43.702 --> 00:13:47.149
Then we turn around the same day and sell it to an end buyer.
00:13:47.149 --> 00:13:50.662
So there's never there's no fee involved.
00:13:50.662 --> 00:13:52.746
I'm actually the one closing on the deal.
00:13:52.746 --> 00:14:00.899
And if you ever decide you want to get into real estate, get away from wholesaling, look at doing a private like.
00:14:00.899 --> 00:14:04.264
Maybe find a private lender, transactional funding.
00:14:04.264 --> 00:14:08.076
There's other ways you can do it than just being unethical.
00:14:10.139 --> 00:14:16.490
Now, when I, when I went about this deal, I bought it in May of 22.
00:14:16.490 --> 00:14:20.918
I actually it took me over a year.
00:14:20.918 --> 00:14:26.145
Now the property the property was steep.
00:14:26.145 --> 00:14:27.707
The.
00:14:27.707 --> 00:14:30.797
The good thing about the property was it was not in wetlands.
00:14:30.797 --> 00:14:46.246
The it was not in wetlands, it was actually a nice quiet area which was a getaway area, and the only reason I knew about that because there was a realtor I actually asked this information to and the realtor said, yeah, it's, it's a, it's a getaway area.
00:14:46.246 --> 00:14:54.259
So if you wanted to just go out in the country wanting to put a cabin on this property, and you can actually do, it's a good, nice little getaway.
00:14:54.259 --> 00:15:10.283
The drawback of the property was there was actually kind of a Creek in front of the property, a small little Creek, and the access it was accessible but it was kind of difficult at the same time to get to the property so a lot of people kind of turned that turned a lot of people off.
00:15:11.505 --> 00:15:37.621
But with the thing about with land versus houses houses four, four bath, four bathroom, I mean sorry, a four bedroom, three bathroom house it is you put on the market there's not really a specific buyer needed for it, for a, for a someone like with land, you need it has to be a specific buyer, not everyone that buys.
00:15:37.621 --> 00:15:40.390
Some people may buy land, vacant land, inside the city.
00:15:40.390 --> 00:15:42.437
Some people may buy property outside the city.
00:15:42.437 --> 00:15:43.523
Some people may buy properties that are landlocked.
00:15:43.523 --> 00:15:44.488
Some people may buy property outside the city.
00:15:44.488 --> 00:15:45.914
Some people may buy properties that are landlocked.
00:15:45.914 --> 00:15:49.144
Some people may buy properties that are wetlands.
00:15:49.144 --> 00:15:56.639
So you have to find a specific buyer With this property.
00:15:56.639 --> 00:15:59.326
I had to find a specific buyer.
00:16:00.615 --> 00:16:13.575
So from the time I bought it in May of 22nd of 22, what I did was I waited about because the property was on the market and I actually did what they call broker listing.
00:16:13.575 --> 00:16:26.625
So if, as long as you have a purchase agreement between you and the seller, you can find a company that can actually put it on the MLS, you pay them a fee, they can actually put the property on the mls for you.
00:16:26.625 --> 00:16:29.099
The property was on there for six months.
00:16:29.099 --> 00:16:31.383
Again I started.
00:16:31.383 --> 00:16:34.168
I listed the property for 75k.
00:16:34.168 --> 00:16:35.797
That was the beginning.
00:16:35.797 --> 00:16:38.143
I think that was that's what it was maybe like.
00:16:38.143 --> 00:16:42.919
Every two months I kept lowering the price, lowering the price, lowering the price again.
00:16:42.919 --> 00:16:47.956
It was barely any transaction, um, any, not to say there was not no looks.
00:16:47.956 --> 00:16:50.361
It's just that it was.
00:16:50.361 --> 00:16:53.975
It was just taking longer than expected to find the right buyer.
00:16:53.975 --> 00:16:56.400
So I ended up closing on a property.
00:16:56.400 --> 00:17:02.778
Then I took the property off the um MLS for a while and then I waited about.
00:17:02.778 --> 00:17:12.471
Maybe I would say I would say I waited about five to six months and then I put it back on the MLS again.
00:17:12.471 --> 00:17:16.103
But since I knew this was a property I was I owned.
00:17:16.103 --> 00:17:18.728
I didn't have a problem really waiting.
00:17:18.728 --> 00:17:29.439
Once I put it back on there and it was like later in the year.
00:17:29.459 --> 00:17:32.286
From that time what people don't tell you is if they said, well, I made $30,000.
00:17:32.286 --> 00:17:40.766
Well, you have to ask well, what was your marketing costs, how much you it took, how much time it take you to market on this property.
00:17:40.766 --> 00:17:55.876
Because you got to consider you're talking to buyers and you can have a conversation with a buyer 10 minutes, two to three buyers a day, and each conversation could be, let's say, 10 minutes and that's 30 minutes.
00:17:55.876 --> 00:17:58.023
You got to count that now, minus the weekends.
00:17:58.023 --> 00:18:02.040
I never took calls on the weekends, but it could be somebody texting you.
00:18:02.040 --> 00:18:03.584
You got to consider that.
00:18:03.584 --> 00:18:06.871
You got to consider, but it could be somebody texting you.
00:18:06.871 --> 00:18:08.273
You got to consider that, uh, you got to consider.
00:18:08.273 --> 00:18:13.779
I don't know how many times I've listed on the Facebook marketplace.
00:18:13.779 --> 00:18:14.480
Uh, I listed it in this.
00:18:14.500 --> 00:18:16.585
I used to use a website called land landcom.
00:18:16.585 --> 00:18:18.648
I did a subscription through that company.
00:18:18.648 --> 00:18:26.480
So you got to understand how much marketing costs it took for you to sell this property, much marketing costs it took for you to sell this property, and then, on top of the taxes.
00:18:26.480 --> 00:18:33.224
So if you pay in this case, since I already owned the property, I didn't have to.
00:18:33.224 --> 00:18:37.487
I didn't well, not have to, but I already owned the property, so my tax was very minimal.
00:18:37.487 --> 00:18:40.970
So all in all, I made like 10K At the end of the day.
00:18:40.970 --> 00:18:44.772
I made 10K on the property After taxes.
00:18:44.772 --> 00:18:56.429
Considering you got to consider the taxes you paid for to buy the property and then maybe the small taxes on the other end and then the marketing costs.
00:18:56.494 --> 00:18:58.799
So I ended up making $10,000 on this deal.
00:18:58.799 --> 00:19:04.661
It took me a year and I think the return on investment was like 30% or something like that.
00:19:04.661 --> 00:19:05.343
I don't remember.
00:19:05.343 --> 00:19:09.994
But again, I ended up selling it for $32,000.
00:19:09.994 --> 00:19:14.134
But again, the issue actually sorry, $30,000.
00:19:14.134 --> 00:19:21.266
The issue was it was very steep, so not all of the property was buildable.
00:19:21.266 --> 00:19:42.019
Again, you had to find a specific buyer for this property, so a 7.45 acre property may have actually end up being really it could have been like, if you don't have a lot of buildable areas to it, it probably was like two to three acres of it that was buildable and the access was an issue.
00:19:42.019 --> 00:19:43.522
It was steep.
00:19:43.522 --> 00:19:48.017
So those were the two things that turned people off on this property.
00:19:48.017 --> 00:19:52.909
So that's why it took me so long to sell it.
00:19:53.269 --> 00:19:57.079
But because it was my first transaction and I really wanted to learn.
00:19:57.079 --> 00:20:01.290
I wanted to take a property from A to Z.
00:20:01.290 --> 00:20:08.299
I wanted to take it from start to beginning Because if this was something I was going to build, a business you got to know how it works.
00:20:08.299 --> 00:20:12.067
So I ended up making $10,000 at the end of the day.
00:20:12.067 --> 00:20:17.866
The buyer ended up finding was he just wanted to own some.
00:20:17.866 --> 00:20:22.416
He had some extra cash and he knew about the area.
00:20:22.416 --> 00:20:31.046
So he was okay with that and he just basically wanted to park his money there and he knew that maybe it's an area that's going to eventually grow.
00:20:31.046 --> 00:20:33.361
So this was a long term hold.
00:20:33.361 --> 00:20:34.965
This was a buy and hold for him.
00:20:35.915 --> 00:20:48.237
The thing about taxes on land it's not really that expensive for the most part a couple of hundred bucks a year and if you wanted to, you can do some value add to the property.
00:20:48.237 --> 00:20:52.592
Again, like I stated before, maybe add a survey, get a survey done.
00:20:52.592 --> 00:20:59.326
So there's actually boundary lines to see how much of the property you can do.
00:20:59.326 --> 00:21:01.269
You can clear the property.
00:21:01.269 --> 00:21:07.182
So if the property let's say there's trees and stuff on the property you can pay a company to go out there and clear it out.
00:21:07.182 --> 00:21:13.739
So you do some value ads that actually, um, that actually that can.
00:21:13.739 --> 00:21:19.375
So if an end buyer buys it, they will pay more for it because those things already done.
00:21:20.319 --> 00:21:26.564
Now the good thing too with the property was there was actually electricity in the area, so they had.
00:21:26.564 --> 00:21:29.295
So someone bought, they had access to electricity.
00:21:29.295 --> 00:21:38.126
So if they wanted to build, it was not like they have to get it installed If you and another value add could be that you add a septic tank.
00:21:38.126 --> 00:21:40.222
So let's say you want to add as well a septic tank.
00:21:40.222 --> 00:21:46.855
Let's say you get the soil tested to see where you can you know if can it take us well, or septic tank.
00:21:46.855 --> 00:21:51.164
So those things you can do as a value add for land.
00:21:51.164 --> 00:21:57.689
But, like I said, I ended up making 10 K off this property because the property had some issues.
00:21:57.689 --> 00:22:08.625
But the fact that you have to find a specific buyer that knows, ok, hey, this is my objective, this is what I'm going to do and I end up closing on the property.
00:22:08.625 --> 00:22:14.827
So I wanted to share with that, with you guys, in case anybody ever decides they want to get into land.
00:22:15.695 --> 00:22:16.178
This is a.
00:22:16.178 --> 00:22:20.755
It's a good space to get into, but right now it's oversaturated.
00:22:20.755 --> 00:22:29.980
And if you do get into it, don't go in it without not knowing what to do, because land, the thing about land, is there.
00:22:29.980 --> 00:22:33.568
You, when you buy a property, you got to know why you buy it, for.
00:22:33.568 --> 00:22:36.337
Is there restrictions on the property?
00:22:36.337 --> 00:22:40.005
What type of can you build on the property?
00:22:40.005 --> 00:22:44.662
What you, what can you and cannot do on the property?
00:22:44.662 --> 00:22:48.259
So they are things you would have to look into to ensure.
00:22:48.259 --> 00:22:50.605
And then, is it an area?
00:22:50.605 --> 00:22:51.488
Is it a good area?
00:22:51.488 --> 00:22:52.771
Is it a getaway area?
00:22:52.771 --> 00:22:56.905
Is it an area that there's a lot of traffic in the area?
00:00:01.100 --> 00:00:05.692
00:00:05.692 --> 00:00:07.826
00:00:07.826 --> 00:00:14.893
00:00:14.893 --> 00:00:33.756
00:00:33.756 --> 00:00:47.225
00:00:47.225 --> 00:00:48.066
00:00:48.066 --> 00:00:51.069
00:00:51.069 --> 00:00:53.331
00:00:53.331 --> 00:01:13.504
00:01:13.504 --> 00:01:15.391
00:01:15.391 --> 00:01:15.531
00:01:15.531 --> 00:01:15.611
00:01:15.611 --> 00:01:20.683
00:01:20.683 --> 00:01:22.367
00:01:22.367 --> 00:01:23.728
00:01:23.769 --> 00:01:27.635
00:01:27.635 --> 00:01:28.596
00:01:28.596 --> 00:01:38.405
00:01:38.405 --> 00:01:41.414
00:01:41.414 --> 00:01:48.240
00:01:48.240 --> 00:01:58.025
00:01:58.025 --> 00:02:07.468
00:02:07.468 --> 00:02:15.610
00:02:15.610 --> 00:02:22.165
00:02:22.165 --> 00:02:30.256
00:02:31.221 --> 00:02:40.747
00:02:40.747 --> 00:02:46.681
00:02:46.681 --> 00:02:49.734
00:02:49.734 --> 00:02:57.013
00:02:57.013 --> 00:03:07.995
00:03:07.995 --> 00:03:25.895
00:03:27.300 --> 00:03:37.134
00:03:37.134 --> 00:03:42.012
00:03:42.012 --> 00:03:45.270
00:03:45.270 --> 00:03:54.439
00:03:54.439 --> 00:04:04.122
00:04:04.122 --> 00:04:09.312
00:04:10.241 --> 00:04:15.102
00:04:15.102 --> 00:04:18.632
00:04:18.632 --> 00:04:21.144
00:04:21.144 --> 00:04:27.242
00:04:27.242 --> 00:04:29.129
00:04:29.129 --> 00:04:50.033
00:04:50.033 --> 00:04:55.346
00:04:55.346 --> 00:04:59.521
00:04:59.521 --> 00:05:01.345
00:05:01.345 --> 00:05:05.793
00:05:06.939 --> 00:05:14.372
00:05:14.372 --> 00:05:22.226
00:05:22.226 --> 00:05:24.163
00:05:24.163 --> 00:05:27.141
00:05:27.141 --> 00:05:30.588
00:05:30.588 --> 00:05:32.492
00:05:32.492 --> 00:05:34.706
00:05:34.706 --> 00:05:42.487
00:05:42.567 --> 00:05:46.120
00:05:46.120 --> 00:05:54.425
00:05:54.425 --> 00:05:56.250
00:05:56.250 --> 00:06:13.903
00:06:13.903 --> 00:06:24.689
00:06:24.689 --> 00:06:28.714
00:06:28.714 --> 00:06:42.744
00:06:42.744 --> 00:06:45.591
00:06:45.591 --> 00:07:00.504
00:07:00.504 --> 00:07:01.307
00:07:01.307 --> 00:07:09.932
00:07:11.321 --> 00:07:16.108
00:07:16.108 --> 00:07:21.783
00:07:21.783 --> 00:07:27.846
00:07:27.846 --> 00:07:35.964
00:07:35.964 --> 00:07:48.963
00:07:48.963 --> 00:07:54.574
00:07:54.574 --> 00:08:01.800
00:08:03.365 --> 00:08:07.615
00:08:07.615 --> 00:08:08.980
00:08:08.980 --> 00:08:11.644
00:08:11.644 --> 00:08:12.848
00:08:12.848 --> 00:08:16.194
00:08:16.194 --> 00:08:27.223
00:08:27.223 --> 00:08:28.406
00:08:28.406 --> 00:08:30.149
00:08:30.149 --> 00:08:39.221
00:08:39.221 --> 00:08:40.322
00:08:40.322 --> 00:08:40.823
00:08:40.823 --> 00:08:49.480
00:08:49.480 --> 00:08:55.974
00:08:55.974 --> 00:09:00.289
00:09:00.289 --> 00:09:03.609
00:09:03.609 --> 00:09:07.143
00:09:07.143 --> 00:09:12.864
00:09:14.469 --> 00:09:16.956
00:09:16.956 --> 00:09:21.024
00:09:21.024 --> 00:09:35.214
00:09:35.214 --> 00:09:41.962
00:09:41.962 --> 00:09:45.538
00:09:45.538 --> 00:09:48.245
00:09:48.245 --> 00:09:51.942
00:09:53.365 --> 00:09:58.539
00:09:58.539 --> 00:10:00.644
00:10:00.644 --> 00:10:04.370
00:10:04.370 --> 00:10:11.301
00:10:11.301 --> 00:10:13.485
00:10:13.485 --> 00:10:26.921
00:10:26.921 --> 00:10:33.613
00:10:33.613 --> 00:10:43.394
00:10:43.434 --> 00:10:49.105
00:10:49.105 --> 00:10:55.442
00:10:55.442 --> 00:10:57.889
00:10:57.889 --> 00:11:00.982
00:11:00.982 --> 00:11:05.235
00:11:05.235 --> 00:11:27.535
00:11:27.535 --> 00:11:30.144
00:11:30.144 --> 00:11:36.083
00:11:36.083 --> 00:11:39.110
00:11:39.110 --> 00:11:47.364
00:11:47.364 --> 00:11:54.365
00:11:54.365 --> 00:11:55.975
00:11:56.035 --> 00:12:05.575
00:12:05.575 --> 00:12:06.197
00:12:06.197 --> 00:12:09.365
00:12:09.365 --> 00:12:19.961
00:12:19.961 --> 00:12:22.788
00:12:22.788 --> 00:12:27.076
00:12:27.076 --> 00:12:45.423
00:12:45.423 --> 00:12:57.861
00:12:57.861 --> 00:13:02.804
00:13:02.804 --> 00:13:14.265
00:13:15.006 --> 00:13:16.115
00:13:16.115 --> 00:13:18.179
00:13:18.179 --> 00:13:21.024
00:13:21.024 --> 00:13:27.556
00:13:27.556 --> 00:13:33.607
00:13:33.607 --> 00:13:43.702
00:13:43.702 --> 00:13:47.149
00:13:47.149 --> 00:13:50.662
00:13:50.662 --> 00:13:52.746
00:13:52.746 --> 00:14:00.899
00:14:00.899 --> 00:14:04.264
00:14:04.264 --> 00:14:08.076
00:14:10.139 --> 00:14:16.490
00:14:16.490 --> 00:14:20.918
00:14:20.918 --> 00:14:26.145
00:14:26.145 --> 00:14:27.707
00:14:27.707 --> 00:14:30.797
00:14:30.797 --> 00:14:46.246
00:14:46.246 --> 00:14:54.259
00:14:54.259 --> 00:15:10.283
00:15:11.505 --> 00:15:37.621
00:15:37.621 --> 00:15:40.390
00:15:40.390 --> 00:15:42.437
00:15:42.437 --> 00:15:43.523
00:15:43.523 --> 00:15:44.488
00:15:44.488 --> 00:15:45.914
00:15:45.914 --> 00:15:49.144
00:15:49.144 --> 00:15:56.639
00:15:56.639 --> 00:15:59.326
00:16:00.615 --> 00:16:13.575
00:16:13.575 --> 00:16:26.625
00:16:26.625 --> 00:16:29.099
00:16:29.099 --> 00:16:31.383
00:16:31.383 --> 00:16:34.168
00:16:34.168 --> 00:16:35.797
00:16:35.797 --> 00:16:38.143
00:16:38.143 --> 00:16:42.919
00:16:42.919 --> 00:16:47.956
00:16:47.956 --> 00:16:50.361
00:16:50.361 --> 00:16:53.975
00:16:53.975 --> 00:16:56.400
00:16:56.400 --> 00:17:02.778
00:17:02.778 --> 00:17:12.471
00:17:12.471 --> 00:17:16.103
00:17:16.103 --> 00:17:18.728
00:17:18.728 --> 00:17:29.439
00:17:29.459 --> 00:17:32.286
00:17:32.286 --> 00:17:40.766
00:17:40.766 --> 00:17:55.876
00:17:55.876 --> 00:17:58.023
00:17:58.023 --> 00:18:02.040
00:18:02.040 --> 00:18:03.584
00:18:03.584 --> 00:18:06.871
00:18:06.871 --> 00:18:08.273
00:18:08.273 --> 00:18:13.779
00:18:13.779 --> 00:18:14.480
00:18:14.500 --> 00:18:16.585
00:18:16.585 --> 00:18:18.648
00:18:18.648 --> 00:18:26.480
00:18:26.480 --> 00:18:33.224
00:18:33.224 --> 00:18:37.487
00:18:37.487 --> 00:18:40.970
00:18:40.970 --> 00:18:44.772
00:18:44.772 --> 00:18:56.429
00:18:56.494 --> 00:18:58.799
00:18:58.799 --> 00:19:04.661
00:19:04.661 --> 00:19:05.343
00:19:05.343 --> 00:19:09.994
00:19:09.994 --> 00:19:14.134
00:19:14.134 --> 00:19:21.266
00:19:21.266 --> 00:19:42.019
00:19:42.019 --> 00:19:43.522
00:19:43.522 --> 00:19:48.017
00:19:48.017 --> 00:19:52.909
00:19:53.269 --> 00:19:57.079
00:19:57.079 --> 00:20:01.290
00:20:01.290 --> 00:20:08.299
00:20:08.299 --> 00:20:12.067
00:20:12.067 --> 00:20:17.866
00:20:17.866 --> 00:20:22.416
00:20:22.416 --> 00:20:31.046
00:20:31.046 --> 00:20:33.361
00:20:33.361 --> 00:20:34.965
00:20:35.915 --> 00:20:48.237
00:20:48.237 --> 00:20:52.592
00:20:52.592 --> 00:20:59.326
00:20:59.326 --> 00:21:01.269
00:21:01.269 --> 00:21:07.182
00:21:07.182 --> 00:21:13.739
00:21:13.739 --> 00:21:19.375
00:21:20.319 --> 00:21:26.564
00:21:26.564 --> 00:21:29.295
00:21:29.295 --> 00:21:38.126
00:21:38.126 --> 00:21:40.222
00:21:40.222 --> 00:21:46.855
00:21:46.855 --> 00:21:51.164
00:21:51.164 --> 00:21:57.689
00:21:57.689 --> 00:22:08.625
00:22:08.625 --> 00:22:14.827
00:22:15.695 --> 00:22:16.178
00:22:16.178 --> 00:22:20.755
00:22:20.755 --> 00:22:29.980
00:22:29.980 --> 00:22:33.568
00:22:33.568 --> 00:22:36.337
00:22:36.337 --> 00:22:40.005
00:22:40.005 --> 00:22:44.662
00:22:44.662 --> 00:22:48.259
00:22:48.259 --> 00:22:50.605
00:22:50.605 --> 00:22:51.488
00:22:51.488 --> 00:22:52.771
00:22:52.771 --> 00:22:56.905