One of the quickest ways to profit in real estate is finding a property that you can get inexpensively. If you can flip the property for cash, you can make a sizeable return.
- Find a property that is worth $40,000.
- Offer $10,000 for the lot.
- Sell the property for $25,000.
You can do these deals with houses, but the competition is more fierce. You’ll also be dealing with larger dollar amounts. This is why I recommend you check out our Ultimate Guide to Land Investing.
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1. Find a property that is worth $40,000.
Go to LandWatch or Lands of America. You can filter property that is worth $40,000. Try to find property that is rural and have a lot of acreage.
You can get the price per acre with the land. You will want a competitive price per acre.
2. Offer $10,000 for the lot.
Reach out to the owner. You can use a mailing service to send out an offer for $10,000 for their lot.
You can also offer $10,000 by calling them on the phone. You can go to a site like Fiverr to find someone that will skip trace contacts for a phone number.
3. Sell the property for $25,000.
Sell your property on land listing sites. It’s important to be able to market your land and show it off. You can hire someone from Craigslist to go to the location and take pictures for you.
Here is a list of potential site that you can sell your land.
- Landwatch
- Lands of America
- Land and Farm
- LandFlip
- Zillow
The more you post your land, the more you will be able to generate leads and make a potential sale.
My Wife was able to Quit Her Job with Land Investing
My wife was a teacher. She loved working with kids. When our baby was born, there wasn’t any going back.
We had to really push our land investing business to the point that she could quit. We started doing bigger deals and more of them.
We started taking some of the money from our business for our own personal expenses. A lot of the money, we reinvested it into our business to buy up more land.
How to Spend Less Time On This Land Business Model
It’s all about having other people work in the business for you. You can leverage the time of other people to build out your business.
I’ve personally used Virtual Assistants from overseas, so I can do other things. For myself, I want to free up my time for the important stuff.
Essentially, one owner finance deal will cover your expenses. On average, our owner finance deals bring in about $200/mo. A lot of the workers from overseas are able to work for $3 or $4 an hour.
By leveraging the work from overseas workers, you can build out your business with this labor force.
Make sure to check out our Full Guide for Investing In Land.
Frequently Asked Questions:
What if I don’t have money to buy the land?
You can get partners, use a line of credit, save money, or get a HELOC. There are multiple ways to get enough money to buy the land.
Can I get land for that cheap?
Yes. Land is a lot less competitive than houses. Some pieces of land were bought many years ago and they have done nothing with it.
A lot of Realtors won’t bother with pieces of land because they don’t make enough commission on it. This means you are a solution to them. It’s a quick and easy cash influx for them.
How can I sell land quickly?
List your land for sale everywhere and price it competitively.
