Episode 10: How to Fund and Finance Your Land Deals Like a Pro
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Dec 3, 2024
Discover expert insights into funding and financing land deals like a pro. The hosts reveal creative strategies, from cash purchases to innovative limited partnerships. Learn about the importance of performance improvement plans for team dynamics and the role of strategic partnerships for new investors. They also dive into real-world challenges, including timber conservation issues, and discuss tools like Texting Betty to enhance client communication. Tune in for valuable takeaways on maximizing profits and minimizing costs!
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question_answer ANECDOTE
Pipeline Revenue Challenges
Clay Hepler experienced setbacks due to easement issues and contested ownership.
This led to a significant drop in pipeline revenue, highlighting the unpredictable nature of land investing.
question_answer ANECDOTE
Sales Success and Inventory Management
Justin Piche realized substantial gross profits, exceeding half a million dollars towards his quarterly goal.
He attributes this success to a surge in sales and improved efficiency in property listings.
volunteer_activism ADVICE
Team Building with PIPs
Implement Performance Improvement Plans (PIPs) for underperforming team members.
This structured approach helps address performance gaps and sets clear expectations.
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In this episode of The Ground Game Podcast, hosts Clay Hepler and Justin Piche dive deep into the essential topic of funding and financing land deals. They explore various strategies and methods that can help investors maximize their profits while minimizing costs.
Key Highlights:
Quarterly Goals Update: Clay shares insights into his recent challenges with pipeline revenue and the importance of sticking to processes, while Justin discusses his success in realizing significant gross profits over the past weeks.
Team Building Tactics: Clay introduces the concept of Performance Improvement Plans (PIPs) as a structured approach to support underperforming team members, emphasizing the importance of clear expectations and accountability.
Creative Financing Strategies: The hosts discuss various funding options, including cash purchases, funding partners, bank financing, hard money loans, and the innovative approach of setting up a limited partnership for funding deals. They weigh the benefits and drawbacks of each method, providing valuable insights for both new and experienced investors.
Real-World Deal Review: Justin shares a recent experience with a property in Georgia that involved navigating timber conservation status and rollback taxes, highlighting the importance of due diligence in land transactions.
Tech Tools for Efficiency: Justin introduces a new tool, Texting Betty, which integrates with Follow Up Boss to automate text messaging, enhancing communication and follow-up processes in their land investing business.
This episode is packed with actionable advice and real-world examples that can help you elevate your land investing game. Whether you're just starting out or looking to refine your existing processes, this conversation is a must-listen!
Hosts:
Clay Hepler: A seasoned real estate entrepreneur focused on building an eight-figure land flipping and development business.
Justin Piche: A former US Navy submarine officer turned real estate entrepreneur, dedicated to building high-performing teams.
The Ground Game Podcast