Travis King, an experienced investor in rural land, shares the unique plays from his successful investing playbook. He breaks down formulas to analyze campaigns and track metrics. They discuss the impact of interest rates on the land investing market and the shift towards assignments. Understanding negotiation and financing in land investment is explored, along with the importance of mastering cold calling. 'The Land Investor's Playbook' is released, offering strategies and tactics for land investors to scale their businesses.
Seller financing with higher interest rates and accepting assignments are strategies to combat the impact of high interest rates and inflation in the current market.
Quantifying metrics and consistently improving lead conversion rates contribute to success in land investing.
Adapting and being flexible in the face of market changes, higher interest rates, and longer days on market is crucial for success in land investing.
Diversifying strategies, targeting specific property types, and utilizing seller financing allow land investors to adapt to market changes and maximize profitability.
Deep dives
Adapting to Market Challenges
One of the main challenges in the current market is the impact of high interest rates and inflation, leading to increased days on market and lower prices. To combat this, the speaker has adjusted their approach by offering seller financing with higher interest rates to attract buyers and provide liquidity. Additionally, they have started accepting assignments to accommodate sellers who want to quickly move to the next deal. They have also focused on improving lead conversion rates and being more consistent in their marketing efforts.
Quantifying Metrics and Improving Skills
The speaker emphasizes the importance of quantifying metrics to track lead conversion rates, days on market, and other key performance indicators. They stress the value of focusing on one skill at a time and steadily improving in that area. By identifying constraints in their business model, they can make targeted improvements. They also highlight the benefits of being adaptable to market changes and continuously learning and developing skills.
Overcoming Market Challenges
The speaker discusses how challenges in the current market, such as increased days on market and higher interest rates, can be turned into opportunities. They mention the importance of understanding what the buyer values and adapting to meet their needs through flexible financing options. They also highlight the value of negotiating both price and terms to provide solutions for both buyers and sellers. They emphasize the need to be adaptable and creative in order to succeed in the ever-changing market.
Embracing Opportunities in the Market
Despite market challenges, the speaker encourages finding opportunities to serve the needs of buyers and sellers. They mention the value of understanding the target market and tailoring financing options to attract buyers. They also highlight the benefits of offering seller financing and accepting assignments to meet the demands of different sellers. By being flexible and adaptable, investors can navigate the changing market and find success.
Exploring Different Strategies in Land Investing
The podcast episode discusses the importance of incorporating different strategies in land investing. The speaker emphasizes the need to go beyond traditional methods and explore additional plays in the playbook. These plays include sub-dividing land, targeting specific property types like waterfront properties, and utilizing seller financing. By diversifying strategies, land investors can adapt to market changes, maximize profitability, and scale their businesses. The episode highlights the significance of tracking metrics to measure campaign success, cost per lead, response rates, and conversions. Overall, the episode emphasizes the importance of having a flexible and diversified approach in land investing.
The Power of Seller Financing in Land Investing
The podcast episode delves into the power and underutilized potential of seller financing in land investing. The speaker describes the benefits of buying land with seller financing, such as the ability to add value, subdivide, and sell the property for a higher price. Seller financing allows investors to become the owners of record and work with agents to resell the land. The episode stresses the need to have the right verbiage in contracts and highlights the importance of building rapport with sellers to negotiate favorable terms. Additionally, the episode explains the concept of "big league" seller financing, which involves originating high-value notes with larger down payments and longer terms for increased profitability.
Adapting to Market Changes in Land Investing
The podcast episode emphasizes the importance of adapting to market changes and diversifying strategies in land investing. The speaker encourages investors to have a playbook with various plays that they can switch to depending on market conditions. This includes strategies like targeting different property types, focusing on seller financing, and incorporating different marketing channels such as direct mail, cold calling, and texting. The episode discusses the significance of tracking metrics to measure campaign success, response rates, lead conversion rates, and cost per acquisition. By constantly evaluating and refining strategies, land investors can scale their businesses and thrive in a competitive market.
172: Travis King has invested in rural land for many years and built a multimillion-dollar portfolio. He's here to share the unique plays he's added to his investing playbook, allowing him to scale and adapt as the market changes.
Travis is going to break down the formulas he uses to analyze campaigns and track metrics so you can move from just feeling like your mailings are working to knowing your numbers. We'll also understand the constraints he sees in today's market with higher interest rates and inflation and how to pivot your acquisition and disposition strategies accordingly.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
