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  • #10437
    Marcus
    Participant
    Post count: 244

    Several years ago I bird-dogged for a wholesaler in Phoenix and got a couple checks and it was great. Shortly after, I moved to the Midwest and put everything on hold for a while. I’ve been wanting to get into real estate for a while and now I’m finally getting started. When listening to a different land investor’s podcast he mentioned saving up $5000 before getting started. During the course of saving up that money I found Jack and Jill’s podcast and was reminded about doing deals with options, and also heard about a member buying a cheap property for $75 in NM and selling it for a profit. So rather than spend the next few months working and saving to get that 5 grand in the bank, I’m pulling the trigger early.

    I just got my first list (from AgentPro247) and I’m in the process of filtering it and weighing the pros and cons or doing a postcard mailing or sending out blind offers.

    I’m glad to be here!

Viewing 15 replies - 1 through 15 (of 16 total)
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  • Rod Hall
    Participant
    Post count: 343
    Pro

    Cool!

    Marcus
    Participant
    Post count: 244

    I’ll be using this thread to document my progress. Due to my weird, long work hours and commute I don’t have a whole lot of time to dedicate to land investing, at least not yet. A few days ago I took my list of 1-5 acre properties and filtered it down from 394 to 344, I didn’t anticipate that many redundancies, but I think it’s a good thing if one person/family owns multiple lots!

    A mistake I made when selecting a county was I didn’t thoroughly research the sale prices and proximity of the county to the other mid-size towns in the area. That’ll be my homework tonight or tomorrow, depending on how long I can stay awake.

    Marcus
    Participant
    Post count: 244

    When pulling lists w/Agentpro247 I went over the amount my membership allowed and had to pull a few more, total invested so far is $92.00. Assuming a deal occurs at 1/2 % for every 100 mailers sent, I’m probably going to pull another county (or two) list to up my mailer count. Since I’m on a tight budget for this, I want to have more than one possible deal to choose from. 1/2 % at 344 mailers is less than one deal, so I’m going to up it to 1000, at least that’s my plan for the moment. That would give me 5 deals to pick from. Fortunately the large town I thought my county was near, is less than 30,000 people and it’s 40 min away, so no loss there. Aside from getting other lists, my next steps are to get a PO Box at the UPS Store, set up a website, and phone number. Once I have offers to look at and I’ve determined the appropriate strategy, ex cash or option, I’ll meet w/an attorney to make sure my paperwork is kosher.

    Marcus
    Participant
    Post count: 244

    I spoke w/the attorney and I feel comfortable using the docs from uslegalforms so I’ll use them when the time comes, but I’ll have him draw up paperwork for seller financing when that time comes. I was looking at @Lukesmith seller website and saw he has parcels below one acre so now I’m pulling another list from the same county for smaller parcels as well to help boost my mailer count number.

    Marcus
    Participant
    Post count: 244

    Edit: the above post I tagged @luketsmith wrong.

    I couldn’t get any results for such small parcel sizes so I’m doing another list in a nearby county in the 1-5 acre range. It seems the retail price/acre cost is $10000 which I suspect is high compared to what most people are mailing to. It’ll be interesting to see the amount of hate mail and offers I get with my embarrassingly low offers I’ll be sending.

    My list has roughly 400 results when not using market value parameters up to $10000, but when I add 100-10000 mkt value my list count drops to 0, just an interesting observation. I don’t know if I excluded properties w/no mortgage on my first list but I’ll be sure to do it on this one. Big thanks to @sethwilliams for the video.

    Marcus
    Participant
    Post count: 244

    I don’t know why my other posts aren’t showing, I’m guessing either it’s a glitch in the martix or that I’m not a member yet. Anyway the list for the county I was going to use, which yielded 409 results, is mostly useless. Most of the properties have no listed name for the owner, no address for the property, and no APN #. Time to find a third county.

    Marcus
    Participant
    Post count: 244

    For whatever reason, using the no mortgage filter is the reason the results weren’t showing the name, address, apn etc. Just filtered my new list down to 394. That plus 344 from the list I pulled last month (time is flying) brings my first mailer to 738. I just bought site name for the sellers website and have hosting, once the servers are pointed to the host in a day or two I’ll be able to set that up. Now I have to find an offer letter, learn to mail merge, set up a UPS store box, and phone number and I should be ready to go.

    Ozzie
    Participant
    Post count: 4

    HI Marcus, you shared that you are on a tight budget. So am I. How much have you spent so far and have you flipped any land?

    Marcus
    Participant
    Post count: 244

    PM sent.

    Anonymous
    Inactive
    Post count: 14

    Hi Marcus, Great to read your history of your first experience! Congratulations for making the choice to do this. You really would benefit from reading the free EBook. This week will be the best time to enroll in Land Academy. Don’t miss it. You will receive details by downlowding the EBook.

    Marcus
    Participant
    Post count: 244

    Hi @anthony, I’ve decided to hold off on doing a mailer and selecting a cheaper county until I’ve got around $5,000 saved for it. I’ll download the book tomorrow, Why is this week the best time?

    Kevin Farrell
    Moderator
    Post count: 1576
    ProAdvanced

    Marcus – I can answer a couple of things for you. What Anthony is getting at is there is a Black Friday discount on new memberships.

    Regarding your letter template, I recently heard Jack on a podcast mention that forms are available at Offer2Owners. I looked and they have letter templates (same one I use) and even data examples to show how to name your columns in excel to go with the letter merge docs. Here is where the free documents are at Offer2Owners.

    I wish you the best of luck. One to five acres in several NM counties should work very well. I am not too sure about mailing low ball offers to counties with comps at $10,000 per acre. That will be a waste of your time and money. There are several counties where the comps are $300 per acre and you can offer $100 all day long and buy land. You have very little cash to start this business – don’t waste it. You might get lucky and snag a great property but your chances at such luck increase when you send out 5,000 low ball offers at once. I would pick counties with lower comps or send a lot more mail.

    Good luck

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 30 minute call - https://calendly.com/kevin-629

    Marcus
    Participant
    Post count: 244

    Thanks @Kevin_Farrell ,I had a feeling it was a Black Friday promotion. I’ve received 2 of the 3 emails promoting it, I’m waiting for the third and hoping I either a) didn’t accidentally delete it or b) it hasn’t hit my inbox yet. I checked out the documents, that’s what I’ll be using.

    They did a podcast a while back and they answered my question about pricing, which is why I’ve changed my plan to saving up $5g and finding cheaper counties. My only concern w/the SW is the length of time it may take to sell a piece of desert…but then again I’m not my target buyer and I’ve got a lot of learning to do. Happy Thanksgiving!

    Marcus
    Participant
    Post count: 244

    I have questions about what’s included w/the program depending on if I pay for it all up front or do the $250 month option. Who do I contact about that? Are there any benefits, besides the lower cost, to paying all up front?

    Erin Spence
    Keymaster
    Post count: 76
    ProAdvancedStaff

    Hey @marcus and great questions!

    The program cost is $1,800 and the Silver membership is $250/month. There isn’t a “pay up front” option – one is for the actual program and the other is for the monthly tools access. You can take a look at everything you get access to here in the “Silver” column.

    Feel free to email me at support@landacademy.com with any questions!

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