LandInvestors.com Forums **Ask A Question** Getting Started…

  • Creator
    Topic
  • #15215

    Gerd Conner
    Participant
    Post count: 11

    So I know from reading the forums that A LOT of questions revolve around ‘getting started’, but I was not able to find anything answering my particular questions…

    Here is my situation –

    I am going to finance my land business initially with my tax refund…waiting on that to happen, but due to my not changing my information with my employer when I got married and had kids, it should be in the 8-10k range. That is all that mamma will let me have to start until I prove to her that I can make money at this.

    Need to have versus nice to have…..

    For the phone, I found that I can get another line added to my cellular policy and get a free phone with the deal for $20/month at Costco, so that I own the number. I think that is a VERY good thing to have, as J&J have spoken several times on having he same phone number that was listed on letters mailed a decade previously. As I plan for this business to last 10-20 years for me, I consider that a need to have.

    Virtual mailbox….much has been said about this on the forum, and as we are in the middle of moving now to a house that we plan to be in for only 3-5 years, I think that that is a need as well.

    Website…..when you are starting your business, a lot of folks have been stating that their website gives them credibility….is that still the consensus? Thoughts on having one built? I’m not very tech savvy at all, although I’m very good with data, this is something that I’d definitely be hiring out. I have family that does this for a living, and although I’d be thrilled to get a ‘brother in law’ deal….I’m not counting on it. How much functionality would you want, and what price would be fair?

    These are the things that are on my mind as a newbie right now. I hope to buy the program in the next month or so, and like I said, as soon as income tax returns come back, use that to fund mailings and acquisitions.

    What are y’all’s thoughts on these topics?

    If you were starting anew now, knowing what you know after your land investing career has begun to unfold, what would you have done differently? What other things would you have done or not done? Set up an LLC? NOT set up an LLC? Hired a tax attorney? Etc.

    Thank you all for your time and consideration, and thank you, Jack and Jill for opening up and letting those of us motivated enough to to provide more the tools and education we seek to do so.

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • Joe McLain
    Participant
    Post count: 41

    I think you do need a web site. there’s a site called bluehost which you can get into for cheap. Whether you go with godaddy or bluehost or another site you should be able to do that for about 10 bucks per month max. You don’t need to hire someone, just follow the templates.

    For voice, you could setup a Google Voice number and it would email you when you have a message. That’s another option to keep your costs down. If you are serious then open an LLC with Rocketlawyer or some other online site. Pretty simple as well. I’ll let the experts handle the other parts of your questions.

    Trevor Probandt
    Participant
    Post count: 142
    ProAdvanced

    What do YOU want out of this thing? What kind of business do you want to start? Want to buy cheap dirt and sell online, or buy ground around your home area and become the “Land Guy” in your area and grow from there. Not everyone can be Luke Smith or Jack and Jill, well they can, but not everyone wants to deal with that many transactions a month. You need to have a lot of time and or systems in place to make that happen.

    As for everything else, all you need in this business is #1) a wix website with your name to give some credibility to your offers and 2) data to mine whatever niche you decide. Stop using your brain power to worry about LLCs, lawyers, etc. That will all come, get a live one on the line and you will learn more in a week than in reading/listening to all of us.

    Yes, burner phones or google voice or whatever is great, so is LLCs for partnerships etc. But you don’t NEED them.

    Start your market research NOW, call everyone in the area that you can think of. Brokers, realtors, buyers of property in the area. Etc, find out what is hot in your area and what isn’t, and what price they move. A mile deep and an inch wide right now. FOCUS, then you can diversify.

    Do or do not, there is no try. Yoda was right on.

Viewing 2 replies - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.