All Forum Posts by: Joe Schmitt

@Neftaly Dubon like other kinds of real estate, you make your money when you buy vacant land. People are willing to sell for pennies on the dollar, so the “But and hold” philosophy really gets replaced with “Buy low, sell high”. Just be aware that there are definitely overhead costs to account for. $10-15K is about the right amount to get started in my experience. I would definitely recommend taking a course and getting plugged into a community if you are serious about getting started.

@Danielle Alexander

You don’t need to use the state contract. A simple contract will work fine.

@Kyle Wheeler

Finding the land is easy. Don’t discount the expense of improving it with septic, water, and power. Zoning May restrict mobile homes in many areas.

I have lots of experience with vacant land. Feel free to contact me.

@Noah McPherson get the member/manager information from the Secretary of State website and then skip trace the member(s).

Datatree is a much better source. Regardless of the platform, the best approach is often to key off of assess improvement percentage of zero. It can also help to filter on square footage or number of buildings. Setting a ceiling for property taxes can help too.

I don't know of a platform that allows you to skiptrace using APNs en masse. Direct mail works well for more. Some people skip trace returned mail, but I've never done that.

Hope those suggestions help. 

He sounds like a narcissist who just enjoys talking about his properties. I would spend my energy on motivated sellers. 

I buy and resell vacant land. My last few deals were bought for $14K and sell for $35K. I just bought a lot for $37K that is listed for $120K.

There are expenses to running the business, and it takes work to get these deals. But there are no rehabs to estimate or manage. There are no tenants to deal with. You need to build a skill and create a system for it.

It's not as sexy as rentals or commercial real estate, but it works. PM me if you want more details.

@Marco Trimborn

Not an attorney or CPA, not professional advice…

The primary purpose of an LLC is to protect your personal assets in case of a suit or judgment.

That said, if you are commingling funds (paying business expenses from a personal account or vice versa) then your LLC will not hold much water.

My advice would be to start an LLC, get an EIN, and open a separate bank account for your business.

@Ross Turner

I buy mostly in OR, never CA. I fund deals too. Feel free to connect with me.