What is Possible in Your First Year Flipping Land

Nov 14, 2023

Flipping land in your first year requires learning, mistakes, and adapting. The hosts reflect on their $1,247k revenue, the learning curve, and closing deals with partners. They emphasize the importance of education, evaluating deals, and setting goals. They also discuss sending letters to potential sellers and finding resources and investment opportunities.

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Introduction

00:00 • 2min

First Year Experiences and Roles in Land Flipping

01:32 • 23min

The Partner with Pete Program

24:07 • 2min

Finding More Deals and Partnering with Them

26:20 • 12min

Comprehensive Training Program and Fast Track Launch Program for Land Flipping

38:44 • 3min

Importance of Education and Confidence in Real Estate Deals

41:28 • 15min

Sending Letters to Potential Sellers

56:00 • 7min

Finding Resources, Investor Opportunities, and Real Estate Tips

01:03:07 • 3min

Flipping land can be a profitable venture, but the possibilities in your first year will depend on several factors, including your speed of learning, resources, time, experience with building a team, goals, etc.

It's essential to keep in mind your first year may not yield significant profits.

Success in this field often requires patience, market awareness, and a deep understanding of local regulations and opportunities.

Our first year in land flipping was marked by mistakes, learning, adaptation, and success. The results were impressive. We achieved $1,247,000 in revenue with a gross profit of $658,000 from 32 sales. Average gross profit per deal was approximately $20,580, and properties spent an average of 55.46 days in inventory.

The lessons and achievements of that year have set a solid foundation for our business in subsequent years to where we are now.

Join us in this episode as Heather and I reflect on our first year, all our mistakes, and the lessons we took. We also have some great tips for those who are just starting out.

Tune in!

Key Takeaways:

Our starting point (05:10)

Learning curve and mistakes (11:29)

Closing the first deals and reselling the properties (17:29)

Partnership to close deals (25:27)

My first 50 deals and monthly income reports (26:50)

Our numbers from the first year (28:44)

Time commitment for successful land flipping (31:02)

How to generate leads your first year (34:20)

Educate yourself on how to evaluate deals (38:45)

Set goals for your land flipping business (44:47)

Model success on your land flipping journey (48:05)

Time to answer some questions (50:02)

Additional Resources:

✨ Get all of our recommended tools and services at https://resources.landconquest.com

✨ Follow Pete on Instagram here: https://www.instagram.com/partnerwithpete

✨ Connect with Pete on LinkedIn here: https://www.linkedin.com/in/partnerwithpete/

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Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.