If there was a minimum dollar amount to get started in the land business (I’m looking at MO, TN, WI) at the moment, what would the barrier to entry be? I want to use the money I have wisely, but I also don’t want to dive headfirst into something that I can’t reasonably afford (and also while competing against others with far more capital than I have)
Especially when it comes to acquiring lists of properties from DataTree and some treasurers, I feel like the start up costs can rack up quickly and I’m all for spending money to make money but I also don’t want 10k to go down the drain for nothing
@land_master - I think $5K is a good minimum amount to start with. Of course, more is better, and it’s technically possible to start with less if you don’t make any mistakes, but if you’re just looking to cover the essentials while having enough wiggle room to figure things out, $5K is probably sufficient.
There are a lot things you can pay for in the land investing business. Many of these expenses are luxuries that will make life much easier, but only a few of these costs are absolutely essential (you simply won’t have a business without them).
If you want to see a detailed rundown of all the initial expenses you can expect (and some of the more expensive things that can come up), see this blog post.
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@land_master You can get lists for free. You could fast track by researchingbest areas for your budget and buy wholsale for quick flip.