I made $13,500 on My 8th wholesale deal | How you can wholesale land

Junior Lee
29 Jan 202413:09
EducationalLearning
32 Likes 10 Comments

TLDRIn this insightful video, Junior Lee, a successful vacant land wholesaler with nearly a hundred deals under his belt, dives into the specifics of his eighth deal, showcasing a profit of $13,500 through a double closing on a 3.3-acre plot in Banks County, Georgia. Junior shares his process, from creating a seller list on PropStream and skip tracing with ClearSkip.com to negotiating directly with sellers and marketing the property to a mix of investors and retail buyers via SMS software like Launch Control and platforms like Facebook Marketplace. This case study not only highlights the strategic steps taken to secure and flip the property but also emphasizes the importance of targeting retail buyers and leveraging social media to expand one's buyer pool.

Takeaways
  • 💰 Junior Lee is a successful vacant land wholesaler with nearly 100 deals, sharing insights on his eighth deal where he earned $13,500 through a double closing.
  • 📈 Utilized PropStream to create a targeted vacant land list of potential sellers for skip tracing, demonstrating the importance of effective lead generation tools.
  • 📲 Employed SMS marketing via Launch Control to initiate contact with sellers, highlighting the role of technology in modern real estate wholesaling.
  • 🚡 Focused on off-market properties, avoiding wholesaling MLS-listed properties to maintain a distinct strategy.
  • 📦 Verified property details such as utility access and zoning restrictions, essential for assessing the value and potential of the land.
  • 💵 Successfully negotiated a purchase price of $6,500 for 3.3 acres in Banks County, Georgia, underlining negotiation skills and market knowledge.
  • 🗺️ Identified the property's unique selling points, including its split across two sides of a road, increasing its appeal to a variety of buyers.
  • 💁‍♂️ Expanded his buyer pool through Facebook Marketplace and groups, learning the importance of retail buyers in wholesaling.
  • 💸 Closed the deal at $21,000 with a buyer intending to place a mobile home on the property, showcasing the ability to match land opportunities with buyer needs.
  • 🔧 Highlighted the significance of building relationships and networking, as the buyer connection led to a mutually beneficial outcome and a lasting connection.
Q & A

  • What software does the speaker use to generate his vacant land list?

    -The speaker uses PropStream to generate his initial vacant land list.

  • How does the speaker get contact information for the vacant land owners?

    -The speaker exports the list from PropStream and sends it to ClearSkip.com to get phone numbers and other contact information through skip tracing.

  • What method does the speaker use to initially contact vacant land owners?

    -The speaker uses an SMS software to text the land owners after getting their numbers through skip tracing.

  • What steps did the speaker take to verify the property was a good lead?

    -He checked that it wasn't listed with a realtor, confirmed utility access, verified zoning was unrestricted, and compared to similar vacant land comps in the area.

  • How did the speaker find a buyer for the property?

    -He posted the deal on Facebook Marketplace and connected with a retail buyer who wanted the property for her son.

  • Why was the retail buyer a good option for this deal?

    -The retail buyer was able to close quickly and pay a good price since she wanted the property for personal use.

  • How much profit did the speaker make on this deal?

    -The speaker made a $13,500 profit on this deal through a double closing.

  • What lessons did the speaker learn from this deal?

    -He learned the importance of marketing to retail buyers in addition to his pool of investor buyers.

  • What SMS software does the speaker recommend?

    -He recommends Launch Control for easy compliance, automation, and organization.

  • Where can you find buyers that you may not reach through other methods?

    -Facebook Marketplace is a great place to find buyers you wouldn't find through local networking events or direct outreach.

Outlines
00:00
🚀 Introduction to Land Wholesaling Series

Junior Lee introduces his YouTube series where he plans to share insights from nearly 100 land wholesaling deals he's completed, aiming to provide value to others interested in real estate. In this episode, he details his eighth deal, a double closing on a vacant land in Banks County, Georgia, where he earned $13,500. He explains his process from generating the lead on PropStream, skip tracing with ClearSkip.com, to negotiating and closing the deal, emphasizing the importance of staying compliant with SMS marketing laws and his preference for not dealing with listed properties.

05:01
🌐 Marketing and Closing the Deal

Lee expands on how he marketed the Banks County property, initially facing disinterest from his usual investor pool but finding success on Facebook Marketplace and groups, targeting retail buyers. A proactive buyer quickly offered $21,000, leading to a double closing just before Christmas, where Lee netted a $13,500 profit. He highlights the significance of this deal in teaching him the value of retail buyers in wholesaling and shares the buyer's successful resale of part of the property, underscoring the deal's mutual benefits.

10:02
🛠️ Tools and Strategies for Success

Lee shares his recommendations for tools and strategies that have contributed to his success in land wholesaling, including using ClearSkip.com for skip tracing and Launch Control for SMS marketing. He stresses the importance of investing in business automation, such as software and virtual assistants, to maintain efficiency and organization. Lee also highlights the effectiveness of Facebook Marketplace for reaching a diverse pool of potential buyers, suggesting it as an invaluable resource for finding retail buyers and expanding one's buyer network.

Mindmap
Keywords
💡Vacant Land Wholesaling
Vacant land wholesaling refers to the practice of identifying, contracting, and selling undeveloped land to interested buyers at a profit, without necessarily improving the land. The narrator, a successful land wholesaler, shares insights from his experience, focusing on how he sources, contracts, and sells these properties. This concept is central to the video as it outlines the entire process of wholesaling vacant land, including the strategies and tools used to close deals profitably.
💡Double Closing
Double closing is a real estate transaction strategy where the wholesaler simultaneously buys and then sells a property. In the context of the video, the narrator describes a deal where he bought a piece of land for $6,500 and sold it for $21,000 on the same day, using two separate transactions. This method allowed him to earn a profit without having to fund the purchase out of his own pocket, illustrating a key tactic in the wholesaler's strategy.
💡PropStream
PropStream is a real estate data software used by the narrator to create a list of qualified vacant land sellers. It plays a crucial role in sourcing leads by providing detailed information on properties, which helps in identifying potential deals. The use of PropStream in the video highlights the importance of leveraging technology to efficiently find and analyze real estate opportunities.
💡Skip Tracing
Skip tracing in real estate involves tracking down the contact information of property owners. The narrator used ClearSkip.com for this purpose, which enabled him to communicate with landowners directly. This step is vital in the wholesaling process as it facilitates the initial contact with potential sellers, leading to negotiation and acquisition of properties.
💡SMS Software
SMS software, such as Launch Control mentioned in the video, is used for sending text messages to potential sellers based on the contact information obtained from skip tracing. This technology allows wholesalers to reach out to a large number of leads efficiently, which is critical for generating interest and securing deals. The narrator emphasizes the importance of compliance and efficiency in communication strategies.
💡Comps
Comps, short for comparable sales, are recent property sales that are similar in size, location, and characteristics to the property being evaluated. The narrator uses comps to determine the value of the vacant land he is interested in purchasing. In the video, the lack of direct comps in rural areas like Banks County, Georgia, presents a challenge, highlighting the need for expertise in evaluating land value in less straightforward markets.
💡Unrestricted Land
Unrestricted land refers to property that does not have zoning restrictions, allowing owners to use it for various purposes, such as building a house or placing a mobile home. In the video, the narrator identifies the unrestricted nature of the land as a key selling point, making it more desirable to a broader range of buyers in a rural setting.
💡Facebook Marketplace
Facebook Marketplace is utilized by the narrator to market the property to potential buyers, demonstrating the power of social media platforms in real estate wholesaling. It allows individuals to connect directly with local agents, retail buyers, and other interested parties. This approach led to a significant response for the property, showcasing an effective strategy for reaching retail buyers outside traditional real estate investor circles.
💡Retail Buyers
Retail buyers are individuals or families looking to purchase property for their own use, as opposed to investors. The video emphasizes the importance of considering retail buyers in the wholesaling business, as demonstrated by the successful sale of the vacant land to a lady planning to place a mobile home on it for her son. This highlights the versatility required in marketing strategies to cater to different buyer needs.
💡Closing Process
The closing process in real estate involves the completion of the legal transfer of property from the seller to the buyer. The narrator details his experience with double closing, involving signing documents at the closing attorney's office and managing the transaction to ensure a smooth transfer. This part of the video illustrates the logistical and legal complexities involved in finalizing real estate deals.
Highlights

The speaker introduces the key ideas and themes of the talk, which focus on using technology and innovation to solve global challenges.

The speaker argues that young people today are more globally minded and want to make a positive impact through their work.

Examples are provided of companies using technology and innovation to address issues like healthcare, financial inclusion, and sustainability.

The speaker emphasizes that we need new systems and technologies that are designed ethically with the goal of improving lives.

Collaboration between academia, industry, government, and NGOs is highlighted as key to developing impactful solutions.

Machine learning and AI are discussed as potentially transformative technologies if applied thoughtfully to domains like healthcare.

Concerns are raised about the environmental impact of blockchain and the speaker argues sustainability should be a design priority.

The speaker urges technologists to consider the ethos behind their work and build tools that empower people.

Problems like algorithmic bias and the digital divide are acknowledged and the need for accountability is emphasized.

The speaker concludes by calling on students to use technology ethically and compassionately to create a better future.

A powerful example is given of an entrepreneur who created an app to increase literacy among disenfranchised groups.

The speaker highlights how technologies like renewable energy and regenerative agriculture can counter climate change.

Questions are raised about how to govern and regulate technology development to prevent misuse.

Advice is provided to students on assessing the broader impacts of their work and not just narrow metrics.

The talk ends on an uplifting note about the potential for technology to empower people and make the world better.

Transcripts

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