Pete Reese, an experienced land investor who grew his business from $1.2 million to a projected $10 million in 3 years, reveals his team-building secrets and the importance of having systems in place for success. He discusses essential roles to hire for and shares a pro tip to stay on track. The podcast also explores the responsibilities of an executive assistant in the land investing business and highlights their monthly income reports and community-building plans.
Consistent outreach through direct mail, texting, and other methods is crucial for success in the land investing business.
Building a strong team and delegating tasks to competent team members is essential for scaling and streamlining a land investing business.
Deep dives
The Importance of Consistent Outreach
One of the key factors in the land investing business is the necessity of consistent outreach. Whether it be through direct mail, texting, or other methods, maintaining a regular and reliable schedule for reaching out to potential leads is crucial. By setting a specific amount of outreach to be done each month, such as sending out a certain number of mailers, you can ensure a steady flow of opportunities. This consistency in outreach is the cornerstone of success in the land investing business, as it helps generate deals and revenue.
Building a Strong Team
In order to scale and streamline a land investing business, building a strong and efficient team is essential. Pete Reese, a successful land investor, shares the importance of hiring team members to handle repetitive tasks, communication with property owners, lead management, acquisition analysis, list building, asset management, and transaction coordination. By delegating these tasks to competent team members, the investor can focus on strategic decision-making and expanding the business. Additionally, Pete highlights the significance of having an executive assistant who acts as a valuable extension of the investor, managing projects, schedules, and team communications.
The Power of Transparency
Transparency plays a significant role in the land investing business. Pete Reese emphasizes the benefits of being transparent with the audience, sharing monthly income reports that break down revenue, profit, deals closed, and deal analysis. By openly sharing this information, potential investors can gain insights into the profitability of the land investing business and see the potential for growth. This level of transparency builds trust and credibility, attracting individuals to engage with Pete's podcast, Turning Profit, which provides valuable content on land investing and real estate investing in general.
Consistency and Quantity for Scaling Up
To scale up a land investing business and increase revenue, Pete Reese emphasizes the importance of consistency and quantity. By maintaining a consistent outreach schedule and increasing the number of mailers sent out each month, an investor can increase their chances of finding more deals and achieving higher revenue. Pete shares his own journey of starting with 50,000 mailers per month and gradually scaling up to 100,000. By focusing on both the consistency of outreach and the quantity of mailers, investors can accelerate the growth of their land investing business.
In 3 short years, Pete Reese has taken his land investing business from $1.2 million in revenue to a projected $10 million in 2023.
And he has the receipts to prove it, posting his monthly income and deal breakdowns on his website so you can transparently see what’s what.
In this episode, he shares what his land business looks like internally and how he’s grown it. From explaining all of his hires to pinpointing who you should consider hiring first when you’re looking to scale.
Plus, one simple pro tip that’ll keep you on track and set up for success.
IN THIS EPISODE LISTEN AND LEARN:
How to build a team
Who to hire first in your land business
The importance of having systems for your team
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