Turning Emails Into Cash Flow: Meir Shemtov's Clever Email Marketing Tactics for Land Deals
Nov 21, 2023
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Entrepreneur Meir Shemtov shares his clever email marketing tactics for land deals. He discusses his background in e-commerce and co-living startups. Topics include flipping land contracts to developers, scaling the business, recording personalized videos for acquisition managers, and the power of giving and trusting God.
Offering higher prices allows for securing more deals and still maintaining a profitable margin.
Email marketing can be a cost-effective tool for finding unique land deals by reaching out to potential sellers who may not have been contacted through other channels.
Scaling the business through assignments and double closings in markets with high demand and low supply can yield significant profits.
Optimizing and scaling the business are crucial for success, including regular check-ins with the team, analyzing market data, and utilizing effective marketing platforms like the MLS.
Deep dives
Offering higher prices leads to more deals
Mayor focuses on offering higher prices to sellers than other investors, which allows him to secure more deals that might have been missed by others. He believes in making money when there is a profit margin of around $20,000 to $30,000 on a deal and is willing to pay more for properties as long as there is still a profitable margin left for his business.
Effective use of email marketing for finding land deals
Mayor highlights the use of email marketing as a cost-effective tool for finding land deals. He describes how he sends bulk emails using mail merge tools and qualified email addresses. While he acknowledges that email response rates may vary, he emphasizes the advantage of reaching out to potential sellers who may not have been contacted through other marketing channels or have unique needs for selling their land. He shares his tips for optimizing email marketing, such as avoiding spam words, using multiple email aliases, and leveraging unsubscribe replies as a form of engagement.
Scaling the business through acquisitions and double closings
Mayor discusses how he scales his business by primarily focusing on acquisitions through assignments and double closings. He explains that he targets markets with high demand and low supply, allowing him to offer higher prices to sellers and quickly find buyers for the properties. Mayor emphasizes the importance of selecting markets with a favorable balance between demand and supply, ensuring a higher chance of success in selling the properties. He also mentions his engagement with developers in larger land deals, collaborating with them to handle entitlement and securing deals that yield significant profits.
Marketing strategies and optimization
Mayor outlines his marketing strategies, including using the MLS, online platforms like land.com and Facebook Marketplace. He employs drone photography and places signs on properties to attract potential buyers. Mayor also mentions the value of neighbor marketing and connecting with real estate agents when necessary. He emphasizes the significance of selecting markets with high demand, optimizing processes, and continually improving marketing efforts to maintain a competitive edge.
Optimizing and Scaling the Business
In this podcast episode, the speaker emphasizes the importance of optimizing and scaling the business. One way to optimize is by regularly checking in with the team and addressing any issues to prevent them from becoming bigger problems. Additionally, asking team members about their workload and capacity allows for effective scaling by hiring additional help when necessary. Market selection is highlighted as a crucial factor in optimization and scaling. By analyzing data from sources like Zillow, one can determine the demand and supply ratio in a particular market, indicating its potential for profitable land investments.
Effective Marketing Strategies and Using the MLS
The podcast discusses various marketing platforms and their effectiveness for land investing. While platforms like land.com, Facebook, and Zillow are mentioned, the speaker highly recommends using the Multiple Listing Service (MLS). They emphasize that MLS attracts serious buyers who are more likely to close deals when compared to other platforms. The MLS offers the opportunity to work with real estate agents who bring qualified buyers. However, the speaker also acknowledges the significant costs associated with agent commissions, which need to be carefully managed.
Building and Managing a High-Performing Team
The podcast delves into the speaker's experience in building and managing a successful team. They highlight the importance of hiring team members who are passionate and knowledgeable about land investing. A team structure is described, including roles such as acquisitions, data management, marketing, transaction coordination, and operations management. The speaker expresses the challenges of transitioning from being a deal-focused individual to a manager. They also emphasize the significance of having a strong team culture and the impact it has on the overall success of the business.
170: Born and raised in Uruguay, Meir Shemtov moved to the US when he was 13. He started his first e-commerce business at 23, became a partner in a creative retail company, and sold it to WeWork at 25.
He launched a co-living startup, exited in 2020, and launched Lot of Land, Inc. shortly after that.
Meir has a rapidly growing team; he does a lot of double closings and assignment deals (10-15 contracts a month).
In this conversation, we will find out how Meir's business works, how he has managed to grow such a thriving land business, and a surprising competitive edge he's been able to find with email marketing.
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