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Looking for guidance on when and/or how to start 2018-02-11T14:00:29+00:00

LandInvestors.com Forums **Ask A Question** Looking for guidance on when and/or how to start

Viewing 14 posts - 1 through 14 (of 14 total)
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  • Marcus
    Participant
    Post count: 28
    #15842 |

    I’ve got about $5000 (no money for LA program) that I can use towards marketing and acquisitions but I feel as though I’d be stuck trying to buy small desert parcels and waiting forever for them to sell. I’m thinking I should save another year until I’ve got $10000 so I can buy larger, more attractive properties. That being said, I’ve got a burning desire to start asap because I’m tired of breaking my body for less than $15/hour at my current job. Any advice is appreciated.

    Anwar Montgomery
    Participant
    Post count: 83

    Marcus,

    People have started with less than 5k. You will be bootstrapped but you can do def it. All you need is 1, 2 or 3 deals before that 5k is 10k. You can def get some nice parcels for 1k and sell for 2-3k and it doesn’t necessarily have to be desert land. The thing is, you gotta find the deals and that might bite into your 5k. You can become a member and troll the deal board for people who have way more deals coming in than money. Or if you can’t afford that, PM everyone to see if they have more deals than money and partner with them or get the property assigned to you. Get creative. Waiting another year wouldn’t be an option for me. Another year goes by, life happens, things pop up.. then its another year after that. Before you know it, 3 years go by. I’d find a way to hustle to get more money or partner/assign with someone.

    Best of Luck!

    Greg Srader
    Participant
    Post count: 11

    18 Months ago I spent $330 on mailers to find my first deal. It was a .5 acre lot in a populated town outside of a city with a 110k population. I spent $3550 and sold the lot for $9500. I’ve purchased 27 more deals since that one and have not borrowed 1 dollar. Every parcel I buy is a short distance from a large populated area, and I have no plans to ever buy desert property.

    You have more than enough money to get started. The biggest obstacle is getting your first mailer in the mail.

    Good Luck!

    Greg

    Marcus
    Participant
    Post count: 28

    Thanks guys.

    Milan
    Participant
    Post count: 394

    Marcus, I think Jack likes to use this quote by mr. Buffet. I’m not sure. Maybe I heard it somewhere else.

    I think it goes like this:

    The biggest business and investing mistakes I made was when I had a lot of money.

    You don’t have a lot of money. That’s not a bad place to be. Be creative, work hard, bargain harder.

    Quick and dirty exercise you can do is to go on land watch and start lowballing the cheapest properties. I bought land like that and resold successfully.

    Of course it’s not efficient. But you don’t care about that right now. Go make 10 offers today.

    Marcus
    Participant
    Post count: 28

    Thanks Milan!

    Milan
    Participant
    Post count: 394

    Another one Marcus. Luke is giving some of his properties away free to some of his watchers. Go watch his Chanel, introduce yourself, maybe you can sell one for him and split it with him. Whatever. There are other land buyers like that too. Can you do something for them in exchange for some land? Be creative!

    Marcus
    Participant
    Post count: 28

    I was going to ask if anyone needs any kind of help but didn’t want to over complicate the original post, thanks Milan for the suggestion too, especially about Luke, I’ll have to find his channel.

    Charley Schelhouse
    Participant
    Post count: 6

    Just get it in the mail! Starting out on a shoestring budget isn’t necessarily a bad thing. I know for me, starting out I have more time than money so it’s forced me to figure out how to do it all myself instead of paying somebody. I think it’ll just make it that much easier down the road when I’m teaching a VA to do it

    Luke Smith
    Moderator
    Post count: 1185

    There are some great replies in here. That is why I love to keep coming back to this site really good crowd. If I had no money and knew some of the info on the board I could tear it up on Upworks.com. I’m trying to hire on there for different things to build up my business and I see what people have been doing and it’s title this title that. Deed for this. Form for that. It’s the same stuff this course teaches and is talked about on here all the time. People are paying to solve those problems. Hundreds of dollars for not much work. Hustle some of that money up too. Use it to mail. Wholesale the deals to others on here. Call sellers of land in the area sell it to them for really cheap but more than cost.

    I’d be drawing up easements and getting them recorded. See what ads are out there to take the jobs on. If you get stuck ask on here how to do it. Collect the cash.

    Send more mail.

    The free land I’m giving away is pretty easy too. It’s getting more competitive though.

    Just started planning out a 30 day push. Free land every day for watching and answering easy questions. Kind of like a treasure hunt. The land is free but I think some people might want me to sell it for them and split the profits so I make money giving it away. If it works I’ll give better and better land away. Keeping it fun right!

    Kyria Baker
    Participant
    Post count: 128

    @luketsmith Luke, your creative, out-of-the-box thinking continues to amaze and challenge me!

    @marcus I agree with what others have said here. “A year from now you will wish you had started today.” Start small and learn with each deal. There will be mistakes, so it’s best to make them with smaller dollar amounts. Rowdy and I started with less than you have now. Not having the money motivates you to succeed; giving up is not an option!

    Marcus
    Participant
    Post count: 28

    Thanks @luketsmith and @kyria as well. This thread has taken a lot of pressure off me and I have a feeling work will be easier now. My plan is to learn one thing/day when it comes to getting started. I’m also working on identifying the market I want to start with.

    I have a vague idea of what a title report is, along w/a deed (although there seem to be a bunch of different types). There are some FSBO lots in a D part of town that I pass by daily, today I’ll get the address/parcel info and tomorrow I’ll head up the county building to see what info I can find out about them, for practice.

    Luke I never thought of Upworks, is the free land you’re giving away part of that for the people you’re hiring? I’ve looked at your selling website and didn’t see any info about it there. Also in another thread you linked to a service that teaches all about title searches, I went to the site but didn’t see a cost. Is there any type of licensing requirements for someone who runs title searches for someone else?

    Luke Smith
    Moderator
    Post count: 1185

    Title searching is a joke. No licenses or regulations. The course I bought was 189$. It’s a little more detail than this forum but not much.

    The free land is in the YouTube videos. You have to catch a live one to get it which means you have to subscribe and turn the alerts on. Your phone should notify you when live events happen for the channels you follow like Landacademy or my channel. Lots of the guys on here have channels you should watch. Learn from them. Landio is doing a really good job making videos about land. I bet he sells his land fast with those videos.

    Sunday made a video about a property I just got in. About an hour later shopper was asking how to get me the cash. Where else does it move that fast and easy. No questions like all the other listings sites. Reputation is already there. Get down to the trade and cut the chit chat out.

    After the weekends I’m catching up on calls by maybe Friday. It’s just not sustainable. Got to get more efficient.

    Tommy Suria
    Participant
    Post count: 7

    Howdy, @lukesmith, I’m getting a mild case of paralysis of analysis with this website building stuff.
    A good site should able to list the main features of a property and its attributes.
    A video is a must.
    Also the ability to list other sellers property to reach more people on different sates. (similar to what you do) How do you manage that?
    Big bold easy to read copy with a Q&A section.
    Now the three providers of pre-made website don’t seem to have all these features ( Done Deal Website, Lead Propeller, and OnCarrot)
    Any ideas on how to go about getting one done up the caliber of yours?
    Thanks
    Tomas

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