The Side Hustle Show 629: Turning Junk Land Into Gold
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Sep 12, 2024 Wayne Seminoff, a real estate investor and founder of JunkLandIntoGold.com, shares insights on transforming forgotten plots of land into valuable assets. He dives into the art of flipping junk land, explaining how he clears title issues and navigates zoning challenges. Wayne reveals his '10 to 1 rule' for investment success and shares personal anecdotes about turning unwanted properties into profitable ventures. With practical strategies and lessons learned from both triumphs and setbacks, he ignites a passion for unconventional real estate opportunities.
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From $1K Junk Land to $1M
- Wayne bought a junk land parcel for $1,000 with a title problem and turned it into a buildable lot worth $500,000.
- After clearing the title legally, he is now subdividing it to increase its value to $1 million.
Buy From Don't Wanters
- Buy from "don't wanters" who inherited land but don't want to manage or fix it.
- They often sell at low prices because barriers discourage them, not because the land is worthless.
Contact Owners Before Auctions
- Before tax auctions, get the county's delinquent property list and contact owners in advance.
- Offer to buy properties at low prices before competitive bidding drives the auction price up.
