• @sean-callahan Excellent, thanks Sean.


  • @jason-pratt
    I am a newbie in land investing/ flipping. I am so new that I just became a member of the forum last night!
    I’m wondering if you could give me some insight on the courses that you took as I am searching for one. It’s probably a question that Seth can answer as well. Based on my research he offers training through RETipster. Looking to fast track.
    Thanks in advance,
    Jeff Verreault

  • LIM

    Jeff Verreault i took the RETIPSTER course and was very happy with it. Almost two years into the business, I use what I learned there every day. A-Z of the land business, lays the foundation. Still taking other courses, but one like Seth's is the foundation for the rest


  • @sean-callahan thanks for the feedback. Which one of REtipster courses did you take? I believe there are two and the master class is the more advanced.
    Jeff

  • LIM

    Jeff Verreault it would have been the predecessor to the land investors master class. I know Seth and Jaren did a major revamp of the course i took, which was already solid stuff. I've browsed a bit in the masterclass course---definite improvements on an already good course. if you are serious, the investment in the course is well worth it. Worst case is that, even if you figure out land investing is not for you. , you'll pick up great info on starting a business, marketing, leads, etc etc that you can apply to any business start up....unless you are already well versed in those skills and processes, which i was not.

  • LIM

    @jason-pratt Which courses did you take?


  • @sean-callahan thank you again for the feedback. I have been a part-time real estate investor (flips and buy and hold residential) for about 15 years. Not quite as knowledgeable on the land side and this land flip model. I’ll check it out.

  • LIM

    @Jason-Pratt

    To build on what has been already said (on confirm it)...

    1. The fastest way to scale is with more email - but I'd get experience before scale - as suggested by Seth and others.

    2 Pitfalls - Not recognizing not all taxes and assessments show up on the county website or tax statement:

    • Be aware of counties where the county collector for the county where property does not collect the school taxes. Example might include school districts that cross more than one county (or situated on a county line - In the Houston suburb of Katy, TX the Katy ISD has school sin three counties (i.e. imagine three counties whose boundaries meet at a "Y" shaped junction and the school district being an oval that overlays that three-county junction ). All of that school district's taxes are collected by one of those county's tax offices. If you are buying a property in one of the other two counties served by the school district that county's tax statement will not reflect the school district taxes. So - look for school district, ISD. etc. on the tax statement. School taxes are usually by far the largest taxing entity.

    • Be aware of school district that have their own tax office; i.e. they directly collect their own taxes - their taxes won't show up on the usual county tax statement.
      If I don't explicitly see a school district taxing entity on the tax statement for the property from the count I do these things: a) Google search to try to determine the school district by looking for school closest to the property or calling the realtor for listed property located nearby and asking them what school district the listed property is in and asking if that school district pretty much serves all district within a couple miles around the lsited property, and is is a good district are their nearby districts I should look for or look out for (really more than I usually nee3d to know). b) call the county tax office and ask if they collect taxes for the determined school district, and if they do not, who does. Then when I locate who collects the taxes, I inquire about taxes owed on the property.

    • Be aware of properties that have back taxes which may already be in the process of a tax foreclosure by the taxing entity (county, state, etc.) If you are buying a property that has past due taxes, ask the tax office if the property is by chance subject to a tax foreclosure of suit. If it is ask how you find out the total payoff for the property if you were buying it and wanted to be sure you cleared up all taxes, court costs and legal costs against it related to the tax foreclosure suit. In most cases, you can call the law office the county uses to handle their tax foreclosure process and they can give you the pay off.

    • Be aware whether or not a property is in an HOA. If it is not evident by way of reading the deeds in the chain of title or by way of a searching for CCR for the name of the subdivision, etc. - then find the name of a neighboring property with a house on it and Google search /skip trace to find their phone number and call them tell them you are considering buying property in the area and ask if they know if their property or others nearby are in an HOA . POA. If that isn't possible / doesn't work, check real estate listing for for property listed in the area and read the detail of the listing to see if any HOA / POA name or annual fees are disclosed in the nearby listing - or call a realtor and ask. (If you're calling a realtor, ask them if they can give you a marker value assessment for the property you are considering buying, or at last a price per acre for property like it in the area - "two birds.. one stone'). Then search for the contact info for the HOA and call them and ask about any back dues or assessment's. While on the phone find out what the annual assessments are and ask if they can send / point you to a copy of their current covenants / restrictions (CCRs).

    • Check for flood zones (use FEMA site)

    3 - No.

    1. What Seth and Sean said. (I never use a realtor on the buy side unless the seller is represented already. Typically if a seller is represented by a realtor - you aren't going to get a well-below-market deal) But, if / once you do a deal that has sufficient profit possibilities and decide to use a realtor sell (or if you are buying from seller who is represented) consider using one of the realtors that was especially helpful when you were bugging them school district or HOA information or was otherwise helpful.

  • Great question and some great answers so far!

    I will chime in as well. .

    1.50k is a solid start but can run out quickly once the deals start moving. I think the most common mistake is to not spend money on things that actually make you money; buying and selling property. Mailing and marketing. If you do those right the deals will flow and you will need wither more money or some investment partners.

    2 - New land investors either buy properties they don't research and price well enough, or the get lost in the pressure of keeping up with all the needed "tech" and supposed subscriptions. You should keep it simple starting out and use the basics. I sold several properties without a selling website when starting. I used google sheets for the first 50 properties! Cross each bridge when you get there, or as Sean said, when the pain factor builds up.

    3 - I would send mail and buy yourself 10 or more cheap properties directly to learn your processes and systems and build confidence if needed. Don't buy anything retail. ALL THE MONEY made in any real estate transaction is made in the BUY.

    4 - If your price point is below 20-40k on the sale of the property then market yourself. Above that point it depends. Land brokers can really earn their money quickly on the bigger deals.

    A final thought; I would invest in a mentoring or coaching relationship from other active investors (Not Guru programs) and also join any mastermind groups and forums like this. Be present and vocal and ask questions. People have a wealth of knowledge!

  • LIM

    Karl James Good advice! Tomball, TX has the same issue. School taxes are separate and can be overlooked if not careful.

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