If you’ve managed to stumble across this blog post without first seeing Part 1, I’ll start this off by explaining where you’re at.
This is Part 2 of a 4-part series of blog posts where we’re addressing the following steps on how to build a buyers list:
If you’ve already finished Part 1 and put together your list infrastructure, you might find yourself asking, “Now what?”
It’s an important question, because Part 1 was just a small aspect of the overall equation. The REAL power of building your buyers list is in your ability to promote it. [click to continue…]
There’s a common phrase that comes up almost every time I hear someone talking about real estate investing:
“Buy Low, Sell High”
I’m sure you’ve probably heard it before too.
It’s a pretty basic statement, but the problem with this kind of over-simplified equation is that in the real world, it’s not that simple. There are A LOT of hidden assumptions that live inside those four words, and in order to understand their real implications, we need to unpack this a bit.
What the Best Investors Aren’t Telling You
It doesn’t take a rocket scientist to figure out that in order to make money as a real estate investor, you need to do two things: [click to continue…]
A few months ago, I got an email from a reader who wasn’t sure what to do AFTER he had his initial phone call with a motivated seller.
The story was – he’d had a nice conversation with one of the property owners who responded to his direct mail campaign, and by the time he hung up the phone, they had verbally agreed on a sale price of somewhere around 15% of the property’s market value.
This was great news for my reader – but even so, he found himself feeling “stuck”, simply because he had never been through these motions before and wasn’t quite sure what to do next.
To expand on this a bit further, this was his situation:
“I just got done with my first mailing campaign – just under 300 postcards (your template, thanks!) and got 4 phone calls. I used your questionnaire, I got the information and now I’m a bit stuck on how to go through the due diligence.”
I actually thought his question was well-warranted, because my own process has changed a bit over the years (which means there’s obviously more than one way to get the job done). [click to continue…]
This past month, I was able to sit down for a friendly chat with my new friend Steve Butala with the Land Academy Podcast.
It was a fun conversation! We talked about a handful of different topics including:
- How to find killer deals in the land business.
- 15 Warning Signs to Watch For (and when NOT to do a deal).
- What we’ve both learned from Pat Flynn.
- What we get out of helping other aspiring land investors.
- Direct Mail (how Steve and I do it differently).
- The importance of trial and error (and not being afraid to make mistakes).
- Don’t quit your job yet. It will happen soon enough.
- Why BiggerPockets is a great learning environment.
- “The 5 Why’s” (a powerful exercise for finding the real truth).
- The Mr. Money Mustache Blog and what I’ve learned from it this past year.
- Helping people and making enough money to live well.
Like I said – it was a fun conversation and Steve is a great guy who knows a lot about the land business. If you haven’t familiarized yourself with LandAcademy.org yet, be sure to swing by the site and see what’s going on over there!
When I got into the niche of land investing, I was pleasantly surprised to learn that it’s not difficult to buy properties for pennies on the dollar.
As with anything, when you’re looking in the right places and talking to the right people, almost any process can be made easier and more efficient – and real estate investing is no exception.
To my surprise, I eventually learned that getting my properties sold was a much greater challenge than buying them cheaply in the first place.
Part of the problem is that I’m not the most patient person. When I list a property for sale, I want it sold today. Not next week. Not next month. Not next year. [click to continue…]