Your info is great! Love the logic. What advice do you have for a beginner dedicating time to this as a side hustle business? I have a business that occupies a lot of time currently. How much time would you recommend a week to making a real go at this? Cheers
It sounds like you're starting the way most of us are. I spent much time on my nights and weekends doing this (until my wife made me stop). The first year was the most time-consuming year. After I got my bearings and figured out how to waste a lot less time, things got easier from a time management perspective.
Say I buy a parcel for rather cheap. How do i go about selling it. Especially if it's under 5k. Would an agent really find value in that. FSBO? CL? FB market place?
I would start with the FSBO channels, like Craigslist and FB Marketplace. Most agents won't be interested in a property of that price... but you could always try.
Hey Seth! Great tutorial and content as usual. You must put a ton of work into everything you do. Really appreciate it! I'm a member of your master class group. All your tips have helped me become a successful land dealer. I only started last year, and hadn't settled on a specific geography for my buys and sells, and now I've learned that I like to operate across multiple states. What's your recommendation in terms of the LLC I should create? I live in Florida, but was thinking about creating my LLC in Wisconsin or maybe Delaware. If I were dealing with most properties in a single state, I would build my LLC in that state, but of course that's not the case. Thanks again for your help and take care!
Hey James, thanks for watching! This isn't legal advice, but if I were you, I'd probably pick one of the states you operate in (maybe the one or two that you do the most deals in or that you think you'll do the most deals in the future) and register in one of those. Remember, the foreign qualification (operating as a foreign LLC in another state) isn't necessarily a must, depending on how much work you do in each state and what rights you want to have there. Check out this video for more on how to think through that: ruclips.net/video/ZcKAbDq4nlc/видео.htmlsi=gzdo3EYhnSmhfSrP
Great content as always. Just had a question: when I just use Zillow or Redfin to look at the ‘for sales” and the “sold”. Why Why is it necessary to use both? And why 12 months isn’t it better to going to six months?
You could just use one if you want (sometimes I just use Zillow). Using a second one will just give you some assurance that the single platform you're using doesn't have wonky numbers, it's just a 'belt-and-suspenders' approach, whatever it's worth. And you could use 6 months if you wanted, but you'd want to account for the difference that half the amount of time would give you. Also, a full year will help you see a more well-rounded picture in case there are any peaks or valleys from seasonality.
Fine land South and currently have a month ago before I list them with a realtor like you or some of yours are interested in I’ll sell them you know market values. These are half acres to 1 acre and they are infill lots
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Your info is great! Love the logic. What advice do you have for a beginner dedicating time to this as a side hustle business? I have a business that occupies a lot of time currently. How much time would you recommend a week to making a real go at this? Cheers
It sounds like you're starting the way most of us are. I spent much time on my nights and weekends doing this (until my wife made me stop). The first year was the most time-consuming year. After I got my bearings and figured out how to waste a lot less time, things got easier from a time management perspective.
Haha. Awesome!
Say I buy a parcel for rather cheap. How do i go about selling it. Especially if it's under 5k. Would an agent really find value in that. FSBO? CL? FB market place?
I would start with the FSBO channels, like Craigslist and FB Marketplace. Most agents won't be interested in a property of that price... but you could always try.
This video was so timely, as I was thinking how am I going to pick counties to start my land business. Great info! Thanks!
Alright! I'm glad the timing was good. :)
Hey Seth! Great tutorial and content as usual. You must put a ton of work into everything you do. Really appreciate it! I'm a member of your master class group. All your tips have helped me become a successful land dealer. I only started last year, and hadn't settled on a specific geography for my buys and sells, and now I've learned that I like to operate across multiple states. What's your recommendation in terms of the LLC I should create? I live in Florida, but was thinking about creating my LLC in Wisconsin or maybe Delaware. If I were dealing with most properties in a single state, I would build my LLC in that state, but of course that's not the case. Thanks again for your help and take care!
Hey James, thanks for watching! This isn't legal advice, but if I were you, I'd probably pick one of the states you operate in (maybe the one or two that you do the most deals in or that you think you'll do the most deals in the future) and register in one of those. Remember, the foreign qualification (operating as a foreign LLC in another state) isn't necessarily a must, depending on how much work you do in each state and what rights you want to have there. Check out this video for more on how to think through that: ruclips.net/video/ZcKAbDq4nlc/видео.htmlsi=gzdo3EYhnSmhfSrP
GREAT INFORMATION . THANKS FOR SHARING.................
Thanks for watching!
people love them some florida lol definitely on my radar as well, as of recent atleast. Chiming in from NYC.
I want mine in a super remote spot, and to live on it! 👌 😂
Great content as always. Just had a question: when I just use Zillow or Redfin to look at the ‘for sales” and the “sold”. Why Why is it necessary to use both? And why 12 months isn’t it better to going to six months?
You could just use one if you want (sometimes I just use Zillow). Using a second one will just give you some assurance that the single platform you're using doesn't have wonky numbers, it's just a 'belt-and-suspenders' approach, whatever it's worth. And you could use 6 months if you wanted, but you'd want to account for the difference that half the amount of time would give you. Also, a full year will help you see a more well-rounded picture in case there are any peaks or valleys from seasonality.
Seth: Thanks for an extremely insightful video; and especially for the spreadsheet (I am excel challenged)!
Glad you enjoyed it!
Thank you Seth! For bringing another great video with a great way to analyze markets!
Happy to help, Bill!
Thank you Seth, great info!
Thanks for watching, Viktor!
Fine land South and currently have a month ago before I list them with a realtor like you or some of yours are interested in I’ll sell them you know market values. These are half acres to 1 acre and they are infill lots