I would like to introduce myself to the land investor community.
My name is Rick. I fly as a pilot for a major US airline as my primary career. I have a limited background in RE investing. I have done a few flips and rentals over the past several years. I wanted to find something in the field that I can manage from the road because of my constant travel schedule. I love everything I see about this business so far and have really enjoyed listening to Jack and Jill on the podcast and weekly meetings! They are so much fun =0)
I am looking at a start up cost and monthly budget to support this business model. I took a look at several of the costs and did an estimate for myself so I would know what kind of financial commitment would be necessary. I am posting what I came up with below. Feel free to jump in and correct my numbers in any way you would like so that I may have a better idea how to plan.
Thank you all very much!
Here are my estimates:
1050- Land training course (with discount)
800- Four special consult calls with Jack for data fine tuning
350- monthly for data and tools access
1100 per mailing @ 2000 letters
600- website costs
200- online postal box
10,000 to 30,000 land acquisition fund (Cost to borrow from 401k @- 5% loan fee, 12 months 30k would cost 1300 interest.)
150 month for Jill live or company like that to manage phones
750 for LLC setup
1000 setup fee for Solo 401k
300 monthly fee for VA to help with transactions
6100 Initial start up costs
1400 per month for ongoing data, phone, web, VA and Direct mail marketing expense (2000 letters every three months).
Let me know if these numbers seem realistic or not.
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