Real Estate Flipping Vacant Land Lecture Notes

Introduction

• Presenter: Joe, experienced in real estate since 2006, teaching since 2010.
• Focus: Flipping vacant land for profit.
• Objective: Simplify the process to earn $1,000 by flipping vacant land.
• Invitation to use free resources at SimpleLandKit.com, including scripts, contracts, and software.

Three-Step Process to Flipping Vacant Land

Step 1: Identify High-Demand Areas

• Use LandWatch.com:
  • Search for properties under $50,000.
  • Select popular states and sold properties.
  • Example: Florida and Texas have high activity.
• Use Zillow:
  • Check sold vacant lots in selected counties over the last 30-90 days.
  • Example: High demand in Charlotte County and Lee County, Florida.

Step 2: Find Active Buyers

• Objective: Identify buyers interested in more property purchases.
• Tools & Methods:
  • Use PropStreamJoe.com (offers a 7-day free trial) to filter buyers who own multiple properties and recently purchased land.
  • Check ownership details, focusing on buyers with a history of buying vacant land.
  • Alternatively, use free options like PropWire.com with similar capabilities, but realize the data may not be as comprehensive.
• Action: Contact buyers via postcards or calls to understand what they are looking for and their price range.

Step 3: Find Sellers

• Identify Sellers:
  • Look for expired or long-listed properties in the target area using PropStream or PropWire.
  • Consider sellers who own fewer properties and have held the land for over 5 years.
• Contact Method:
  • Use skip tracing to directly call land owners.
  • Contact through Realtors if properties are listed.

Practical Application

Tools for Execution

• FreedomSoft: Used for managing leads and communications, offers a free trial.
• Homes.com and Redfin:
  • Provides realtor contact details and property history.
  • Useful for verifying property details and market condition.

Negotiation Tactics

• With Realtors:
  • Offer fair market prices based on comps, found via Redfin or Homes.com.
  • Suggest agent dual representation for commission incentive.
• Direct Offers:
  • Make multiple offers, particularly on expired listings.
  • Avoid drastically lowball offers; focus on reasonable assignment fees ($2,000-$3,000).

Conclusion

• Aim for small, consistent profits through efficient processes rather than large, infrequent gains.
• Emphasize consistent offer making and understanding market demands.
• Encourage utilizing free resources and tools for more efficiency.

Call to Action

• Subscribe to Joe’s channel for more insights and tips.
• Utilize SimpleLandKit.com for free resources to aid in real estate flipping endeavors.