I made $13,500 on My 8th wholesale deal | How you can wholesale land
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
- π° 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.
- π Utilized PropStream to create a targeted vacant land list of potential sellers for skip tracing, demonstrating the importance of effective lead generation tools.
- π² Employed SMS marketing via Launch Control to initiate contact with sellers, highlighting the role of technology in modern real estate wholesaling.
- π‘ Focused on off-market properties, avoiding wholesaling MLS-listed properties to maintain a distinct strategy.
- π¦ Verified property details such as utility access and zoning restrictions, essential for assessing the value and potential of the land.
- π΅ Successfully negotiated a purchase price of $6,500 for 3.3 acres in Banks County, Georgia, underlining negotiation skills and market knowledge.
- πΊοΈ Identified the property's unique selling points, including its split across two sides of a road, increasing its appeal to a variety of buyers.
- πββοΈ Expanded his buyer pool through Facebook Marketplace and groups, learning the importance of retail buyers in wholesaling.
- πΈ 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.
- π§ 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
π 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.
π 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.
π οΈ 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
π‘Vacant Land Wholesaling
π‘Double Closing
π‘PropStream
π‘Skip Tracing
π‘SMS Software
π‘Comps
π‘Unrestricted Land
π‘Facebook Marketplace
π‘Retail Buyers
π‘Closing Process
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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