plus provide tips to help you in your real estate investment career.
I’ve never been a big fan of really long blogs. I like the USA Today / 8th grade version of things in general.
Here’s a side by side comparison of Flipping Houses vs. Flipping Land. It’s seems pretty clear which one works best (maybe a combination of both could work).
Flipping Land turns a 300% Profit Margin.
Houses turn about a 35% margin.
If I had $100,000, I could turn it into $300,000 in land. In houses, I could turn it into $135,000.
Land needs no attention, houses need to be renovated and maintained.
You can burn down your land and it holds the same value.
You can buy land in all 50 states from where you are sitting right now, houses need to be “walked through” and managed. You don’t need to go see land.
The only carrying cost with land are the annual taxes (most of the time). There are too many carrying costs to list here with houses.
My 7th grader gets it. He has seen us in both businesses and he prefers land flipping because he knows I will pick him up after school if we are not flipping houses.
Land is much easier to buy and sell. There’s tons of unwanted rural properties available and ready for negotiation which allows you to sell it for much less to the end user.
Are You Using TitlePro247 All the Time Also?
We are thrilled to be able to share TitlePro247 to our members. Many real estate professionals have heard of AgentPro247, but we have the additional features offered by TitlePro247, for our members. It includes added information and documents used by title companies so you can complete your own “due diligence” like a title agent.
From there you can select the property, view it on the map, confirm ownership details, download a detailed property report (with GPS coordinates and plat map), review recorded documents, and more.
LandStay.com We are setting out to change the way the industry buys and sells property. (Oh, it’s coming and it’s going to be great!) Let us do the work for you. As a member you will be able to post and “share” your available property all over the internet!
Weekly member calls. Last week was our largest turnout! Great place to get live, direct answers from Jack & Jill. This month’s remaining member calls: 12/15, 12/22 . No call 12/29. All scheduled for Thursday, 3pm MST/5pm EST, and email invites sent out on Tuesdays.
Not a member and want to sit in on this week’s member call?
How can I find lake frontage properties? Who mails the deed in for recording? I learned more about this business than if I took a semester of MBA courses.
I’m going to be targeting 5 acre parcels and I’m wondering if there is a way to separate those that have lake frontage and those that don’t in Real Quest? I don’t want to waste mailers on properties if the offer price is obviously going to be too low for the properties with frontage.
I sold my first property with an online check out “buy it now” sale. I know Jack and Jill say in the program that they have the buyer record the deed and they send instructions on how to do it, they also say that they have problems with buyers not recording the deed. Jack and Jill (and any others that could lend input), why not record the deed yourself? Wouldn’t that be cleaner? And you would not have to worry about the hassle of dealing with notifying the buyer of tax statements etc down the road should they not end up recording? What are the pros and cons to each approach?
I sent out 1,300 offers my first mailing. Thought I did a ton of homework, called a couple brokers, etc. Sent 40 acre parcels for $5k, comps were showing $12-$15k market…did it via the whole county…and well, I got a ton of accepted offers. Fired up right?!?! Well, all the accepted were worth about $8k and weren’t moving or had no access available. So what is a couple grand and a couple weeks of homework??? I went back and re-watched the packet another two times and CD 5 about 5 more times. What a way to learn though??? I will never make that same mistake again, and I learned more about the business than if I took a semester of MBA courses somewhere. Do, fail, learn, do it again wiser this time!!!
Tip of the week: Create a scheduling system and get in the habit of posting your available (and sold) properties all over the internet! If it’s not selling, you either overpaid and are priced too high or you are not reaching the right people.
Get into the real estate business in less than 5 minutes and for free. Drop Everything.