Attempting land flipping

7 Replies

I just listened to episode 39 of the podcast a few days ago and land flipping seems like a niche that would work well for me in my area and help me build more cash for other deals. I have a couple questions for starting out... First, is it better to set up a business phone number first through something like grasshopper or will it be fine for my first few attempts to use my own personal number? Second, Seth Williams mentioned using 2 different websites (1 for buying, and 1 for selling land). Is this necessary for just starting out or are the websites more for higher volume land flipping? Last, are there any links to a good form letter to send to the delinquent tax owners and how exactly are the offers made? Over the phone, through email? I remember Seth saying he had someone tear up his offer and mailing it back to him. Any help or advice is greatly appreciated! James III

Hi @James Theron Erwin III

Thanks for checking out the podcast! Those are all good questions.

Personally, I wouldn't want to give out my personal number to a bunch of strangers...  so I would work on setting up a separate business number pretty early on. It's not the end of the world if you don't, but it's not a bad idea to keep some separation between your business and personal phone activity. At the very least, you might want to set up a free number with Google Voice for this.

Regarding the websites - no, these aren't and absolute necessity from Day 1 (I even know people who have been doing this for years, and they STILL don't have a website). So while it's not a "must", they can still be extremely helpful on a number of levels (saving you tons of time, giving yourself better credibility, making yourself "available" 24/7, weaving some other helpful technologies into your business, etc). But to answer your question...   you can certainly survive without it (i.e. - I wouldn't stall the process of getting started just because you don't have a website yet).

And yes, I've got some examples of postcards I can send you, and I can point you in the right direction on the offer-making process too. I'll send you a PM with some more direction on this.

@Seth Williams

 I was reading this post and if you would also send me some information that would be helpful as I have flipped one parcel of land I acquired off of a tax sale and now looking to do several others. If I could see what you send for postcards I would be grateful

thanks

@James Theron Erwin III  To answer your initial questions:

1. No I would not give out my personal phone number.  Registering for a service such as grasshopper also allows you to look more professional by having a 1-800 number and allows you filter angry calls by taking messages instead of answering the calls in real time.

2. No you do not need to have either a buying or a selling web site. They are primarily to improve your image but you also need a way to draw traffic to your site. They can, however, streamline the buying and selling process by allowing buyers/sellers to enter information/payments directly on your site.

3. If you are getting angry calls or torn up letters sent back to you then your offer amounts are probably in the right ballpark. If you are offering low purchase amounts that will allow you to maximize your potential profits but may also generate some irate calls - which is why you may want a phone answering service and PO Box for your land investing activities.

Hope this helps.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here