Turning Profit What 200 Land Flips Taught Us About Land Flipping [REPLAY]
Jul 23, 2024
Discover the truth behind land flipping from inside the business with insights on 200 deals, average prices, profits, and market duration. Learn about profitable strategies, challenges with cheaper properties, and the shift towards more profitable deals. Explore the dynamics of pricing, buyer perspectives, educational tools, and maximizing profits. Dive into double closing risks, legal complexities, and advice on starting land flipping from abroad.
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50/80 Rule for Land Flipping
- Pete and Heather Reese analyzed their first 200 land flips and discovered that 50% of their deals generated 80% of their profits.
- This disproves the 80/20 rule in their case, but still highlights the importance of focusing on high-profit deals.
Prioritize Profit over Revenue
- Focus on profit, not just revenue, when evaluating land flip deals.
- Revenue is important for cash flow, but profit is the ultimate goal.
Reinvesting for Growth
- The Reeses reinvest profits back into their business to scale and aim for higher revenue goals.
- They prioritize building a team for future growth, not just current capacity.