LandInvestors.com Forums $10K a Month for Life; Cash Flow From Land Chapter 3 – Cash Flow From Land Why does Steve recommend buying land west of the Missippi?

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    Chris
    Participant
    Post count: 252

    I’ve been reading through all of Steve’s post on bigger pockets and I noticed he tells people to buy land west of the Mississippi.

    Any thoughts on that? Is that because there are vast expanses of vacant, open land that can be purchased for $100 an acre?

    I’m doing my first mailer on the east coast and in searching for land on ebay, landwatch, etc in this part of the country, I see very few people offering large parcels for no money down, easy terms financing. Easy terms financing is usually an indication that the land was purchased at auction or for a very low price.

    Your thoughts?

Viewing 6 replies - 1 through 6 (of 6 total)
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  • S. Jack Butala
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    Post count: 101
    ProAdvancedStaffPrincipal

    Hey, Chris. It’s all a function of what you want to do with the property once you purchase it. If it’s long term payments, the east coast can be great for purchasing vacation properties. It’s seems to be easier to buy larger property out west for cash flips.

    I’ve not heard of any solid rural markets anywhere in the country where this does not work to some extent. It’s where it works the BEST that makes most sense…

    We have members who are showing me new markets that I never thought would work as well as they do.

    Hope this helps.

    Chris
    Participant
    Post count: 252
    Pro

    Hi Steve,

    Thanks for the response! I think I just need to adjust my offer pricing. If I use pricing 25-33% of the lowest price on landwatch and 50% the lowest price on ebay, my offer price should be $3000 for 5 acres instead of $500.

    I sent out 492 offers a few days ago, on 5 acre parcels for $500. I just started getting phone calls, so we’ll see.

    It looks like when you get too much hate mail, you need to adjust your offer pricing.

    Anthony F
    Participant
    Post count: 2

    Chris,

    When sending out mailers did you get your list directly from the county or did you use a third party such as AgentPro247? i tried to use agent pro for 2 of my mailers and out of 400 mailers on both i had over 50 mailers returned to my po box. I Don’t think the information is too current on services like this. Thanks

    Anthony

    Chris
    Participant
    Post count: 252
    Pro

    Hi Anthony,

    Yes I used Agentpro and I noticed their information is outdated, maybe 6mo to a year in some places? Because I would do random checks on my data and found the current owner was incorrect.

    The thing is though, listsource is going to charge you like .10 a name. Agentpro is more like .01 a name. In some counties agentpro is fine, others, not so good.

    If I start doing more volume I will probably bite the bullet and sign up for a 1 year subscription with listpro, but agentpro is pretty cheap for what it gives you.

    Also, if you’re only doing one county, try getting the list direct from the county office.

    @Anthony F, how did your first mailing go?

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    @anthony
    @chris
    I am using agentpro247. I would love to do a side by side agent pro to Core Logic comparison if anyone out there with core logic is up to it. Just looked up a house my neighbor is flipping in San Diego area. Their data was quite fresh. Like within the last couple weeks or better fresh.

    I will test them as the titles change on my properties to see how fresh they are in the county I am currently working.

    $17 per month and month to month commitment vs 150-250per month and one year commitment is a big difference. Just like chris says. Lets use some profits to pay up for the fancy stuff later.

    Jermaine and Faith Hill
    Participant
    Post count: 36
    Pro

    I would have to agree. Agentpro247 is not the most accurate depending on the county. I think once you start branching out to more rural areas they are even more less accurate. I have been using them so far for my realestate wholesale business which is fine because I am in high density populated area of Richmond; which I feel their data is more accurate in that regards. Since I have switch to Land Investing I noticed the difference especially in rural areas of Richmond.

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