Colin Murphy discusses transitioning from house flipping to land flipping, highlighting the benefits and simplicity of investing in land. He emphasizes the importance of freedom and flexibility in the land business and shares his journey of breaking bad habits for better health. He also talks about favorite shows and movies, recommended guests, and the importance of helping others and tracking finances in land investing.
Transitioning from house flipping to land flipping offers lower risk, flexibility, and reduced competition.
Developing a growth mindset, seeking advice from experienced investors, and embracing challenges are essential for success in the land investing business.
Deep dives
Transitioning from Flipping Houses to Flipping Land
Colin shares his journey from flipping houses to flipping land, starting in Eastern Europe and eventually settling in Florida. He explains how he got into land investing and why he made the transition from houses. Colin highlights the lower risk and higher flexibility in the land business compared to houses. He recommends starting small and networking with experienced investors to learn and grow in the land business.
Benefits of Land Investing: Low Costs, Less Hassle
Colin discusses the advantages of land investing over houses. He emphasizes the lower capital requirements and reduced competition in the land market. Colin shares how land transactions are smoother, involving fewer parties and less complexity compared to house flipping. He also notes the freedom and scalability land investing offers, allowing investors to decide the size and direction of their business.
Developing a Growth Mindset and Resilience
Colin shares the importance of having a growth mindset and resilience in the real estate business. He encourages continuous learning, networking with successful investors, and seeking advice from experienced individuals. Colin highlights the need to embrace challenges, take action, and develop resilience in order to succeed in any business venture.
Balancing Business and Personal Life
Colin values freedom of time, location, and money in his land business. He prioritizes spending time with family, staying fit, and indulging in hobbies like golfing and traveling. Colin emphasizes the importance of maintaining a work-life balance and enjoying the journey of building a successful land investing business.
Refreshingly simple. Those are the two words Colin Murphy uses to describe land flipping after 2 decades in the house flipping game.
With so many transferrable skills between the two, it’s no surprise that more and more house flippers are finding success in land.
Are you ready to say goodbye to the headaches of homes? The inspectors busting your chops, the low appraisals, the buyer complaints, the permits, etc.?
If so, this episode is exactly what you’re looking for.
Not to say it’s all sunshine and rainbows though, succeeding in anything new takes time, effort and a heaping helping of resilience.
Colin transitioned over 18 months, doing both house and land flipping.
Listen in as he breaks down his journey out of one space and into the other.
IN THIS EPISODE LISTEN AND LEARN:
Why now is the time to think about switching from house flipping to land flipping