Thanks Charlotte! Very helpful info and I will definitely take that into consideration now that I am about to send out my first mailing?
May i ask what you suggest for your comps? I know it can be difficult at times to figure them out.
So all the lots in the most popular counties in AZ - are not buildable and most have no power, electric or water. Yet they are sold and resold with such HUGE profit margins. While I completely believe in this business model, I also believe 100% on what Renee Riker (episode 30) said - I do due diligence and stay away from land locked, lands not buildable, wetlands and in general other weird lands. What am I missing about these rural / desert land that makes it so popular mainstream that it gets flipped over and over. While I am getting ready to do the same- I am just concerned that I am completely missing something. Am I? Just treading with caution....
I agree that it makes very little sense, but there must be something to it, or people wouldn't be doing so much business in these counties.
I'm with you. I am working with a coach and he has me in this county that is the same. Literally it is this giant subdivision that never grew past 30%. Just thousands of uncleared lots being flipped, but it doesn't seem like anyone actually builds anything on them. I have no clue what to expect. Wish me luck!
Danielle I feel like we're lining the pockets of land moghuls out here who keep greasing the fire. I hear Jack Bosch is one among many out there. I know Scott of Land Geek who pretty much yells at flight school to get into these counties. But as long as we all make money - shd I turn a blind eye? Will I get into trouble by mentioning names in here? But all this is pretty common knowledge if u do enough research online.
What are you missing? That people buy low priced land (and most everything else) based on emotion not reasoning!
I have moved a few of those lots but now focus on more larger acreage rural stuff. However I have off grid plots with terrible access flying off the shelf because people want to own the sense of freedom. A place to get away to, or the sense of investing in real estate.
That being said I don't make a business model out of buying junk, and would try to avoid those purchases...especially when you are starting out.
Also you are not wrong in your statement about Gurus, which also has broight too many new investors to focus on the same markets and a lot of wholesaling going on.
Danielle What's your opinion of your coach / coaching program? Are you working with Brent B., by chance? Just curious. I'm evaluating programs, including the RE Tipster Mastery program. Hard to choose.
Hank A. Hi, It depends on what your business model is. It's good to see different methods, but the small lots being flipped in over saturated markets is not my thing. I originally did RE Tipster and think it's a great program for my interest in the land business. I made huge mistake and did the deal partnering coaching with Willie G from Land Investing Pros. I guess I was feeling scared and wanted to have someone to walk me through my first campaign. He required me to buy their program (not great), plus buy the deal partnering, and split the profits from my first deal with him. NOT WORTH IT. He literally went MIA, and when I asked him simple questions about self closing or the like, he said he wasn't interested in hand holding. I haven't heard from him in over a month and am now listing the 4 lots I bought under his campaign in Highlands County, Florida.
I also like The Land Academy, but I'm sticking with the REtipster community as my core education. Seth is the real deal. Good luck!
Danielle Thanks very much for your reply. I don't know who Willie G. is, but I'll avoid him.
I share your reservations about the small lot in oversaturated markets business model.