LandInvestors.com Forums **Ask A Question** What’s your monthly burn rate?

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  • #19488

    Milan
    Participant
    Post count: 520

    Hey guys would you mind sharrying your monthly burn rate/expenses to run this fun bussiness? I mean with this recurring monthly bills, the amount you get charged no matter what every month.

    I’ll start. But I’m not representing the true land Profesionals here who do this full time. I’m goofy part time investor/daycare money seaker only. So if you want to succeed big, you most likely have to have bigger bills. But do you?

    My monthly burn rate:

    Mailbox – $12 monthly
    Website – $14 monthly
    Software – $18 monthly

    Total – Exactly $50 bucks.

    That’s it.

Viewing 9 replies - 1 through 9 (of 9 total)
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  • Milan
    Participant
    Post count: 520

    I might actually pick up some math tutoring classes too 🙂 it’s not $50 it’s $52

    John Pitkin
    Participant
    Post count: 35
    Pro

    About $300 a month:
    Data $30
    Misc postage, supplies, etc. $20
    Mail box & associated fees $15
    Advertising (to buyers) $120
    Telephone costs (phone.com) $25
    Podio with Globiflow $25
    Zapier $25
    Web hosting server & domains $15
    TOTAL is $275, but I rounded up to $300 because I probably forgot something.

    Milan
    Participant
    Post count: 520

    Thank you for sharing that John! That looks very healthy!

    Marcus
    Participant
    Post count: 156
    Pro

    My second RQ payment is coming up this month, and I just pulled my first list which will be $310 by itself. Still need to set up website(s) and mailbox.

    Joe Schmitt
    Participant
    Post count: 117
    Pro

    Almost $1500

    LA Membership – $250
    Data – $200
    Mail – $800
    Pat Live $130
    Virtual Mailbox – $20
    Mapright subscription – $50
    Rocket Lawyer subscription – $40

    joe@hyhproperties.com

    Jake Robinson
    Participant
    Post count: 128
    Pro

    Ok, i am just cutting & pasting total spent since I joined… not monthly costs because some have already repeated… but my grand total so far, to get started up to first mailer going out and receiving calls…

    Total Running Costs: $2,602.12

    Land Biz Expenses
    date Cost
    October 24th 2018 $1,250.00 Joining Fee
    November 24th, 2018 $250 Recurring LA membership fee
    December 7th, 2018 $9.06 BuyBuyLand.com (domain purchase)
    December 8th, 2018 $94.80 hosting (paid year in advance)
    December 8th, 2018 $33.71 Wordpress Theme
    December 26th, 2018 $250 Recurring LA membership fee
    Jan 2nd, 2019 $668.30 O2O first mailing
    Jan 10th, 2019 $14.99 Wordpress Plugin
    Jan 15th, 2019 $31.26 RealQuest Records: 302 x $0.1 = $30.20 plus 3.5% 

    Milan
    Participant
    Post count: 520

    Thank you Jake and Joe for sharrying this. Jake good luck on your first mailer now. I hope it leads good results. Let us know. Joe, are you selling a lot of land? I remember you were struggling little bit in the beginning. Did you turn things around?

    Joe Schmitt
    Participant
    Post count: 117
    Pro

    You’re about right Jake. This is not a cheap business.

    joe@hyhproperties.com

    Jake Robinson
    Participant
    Post count: 128
    Pro

    I actually am okay with the amount… most of it is a one-time charge… joining fee, website plugins, theme, etc.. besides monthly LA fee, I have small amount for hosting. I know when I get to marketing I may spend money on advertising, maybe for photos, drone footage etc. But when you start selling the amount looks to be minuscule compared to the Return on Investment. Especially if you land a big transaction and bring it to the Deal Fund of Plum – that’s a windfall if you ask me.

    My first deal will prob be acquisition costs around $3.5k to $6k – then double that when sold and 100% of investment/overhead is paid back!

Viewing 9 replies - 1 through 9 (of 9 total)

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