Hey kids, sorry it has been a little quiet on here lately. I have been getting my ass handed to me by a seller of a deal that had them renegotiate at the last minute. Went to bed really pissed off a couple nights ago when it went full sideways. Anyway, we will have a call next Monday evening, July 1st at 6:00 pm Central time. Also, please respond to this thread if you are interested in being on the podcast. We have 82 members and I would love to have everyone on sometime. The world wants real people and real stories, not just another guru or sales pitch. I want to change the messaging in this platform, but I need your help. Please respond to this thread, and I will reach out and we can get an hour or so lined out sometime in the future. Thank every single one of you, I read all of these and appreciate all the help and support, and even the constructive criticism.

What’s up everyone? I recently finished real estate school in FL. I would love some feedback (PROS & CONS) on those of you who are licensed and are currently using your license in your land business. Do you list your own properties in your markets? Do you disclose that you are a licensed agent when sending mail and marketing out in your state? How about cold calling? Is it in your script?When a seller that you speak to doesn’t want to sell at a discount, do you attempt to list their property on the MLS after? I know that @Trevor Probandt holds a license in TX. Any feedback would be greatly appreciated. Thanks in advance.

Wondering if anybody has any experience with wraps in land? There was somebody on our into call that had 100+ notes (hoping they chime in 😀) Trying to understand the basics (let me know if on right track): 1. Buy with deed of trust/prom note (with or without acceleration clause?) 2. Sell on land contract? 3. Setup automatic monthly payments (note servicing company?)

Hey guys, sorry for the mix up on the call tonight, here is a little light reading for you. This is a property we are about to bring to market in the next week or so. It was a new county for me, so I paid extra for an appraisal for as-is, and a bulk lot appraisal, this is the new value of all of the tracts together. Not sold each individually. I have done this the past three times to help me make damn sure that my numbers are correct in a new area. This is NOT fool proof, but it could be the best $3500 you can spend to NOT get in a bad deal.

Hey team- I just wanted to share this very thoughtful rejection letter I got from a private capital investor. Most rejections aren't this specific. I'm sharing it as a reminder for everyone to not take rejection personally. And to remember that having local knowledge of the advantages of your project and knowing your community doesn't always mean that an underwriter takes those intangible items into consideration. Here's the rejection I received: Hi Joe, thanks. We took a much closer look at the market and child parcel potential, and conservatively think the low range projections are probably most accurate. We're in the midst of a buyer's market, and even when we undercut the market, 80%+ of our recent parcels are selling for below list, so we take this into account. Understandably, there's a lot of seasonality in MT, and the lagging 6 months is almost non-existent. We devalued the subject property considerably compared to the lots closer to the lake, and accounting for competing lot sizes. Eight 2 acre's hitting the market all at once is tricky. For the later phases, difficult to find reliable comps for larger acreage properties, not a robust market, even accounting for limited inventory. This comp (link) is informative, and in a better neighborhood, with a PPA even a bit less than the proposed low range. We're extra conservative with phased dev plans in case properties sell for below expected value, and take longer to offload with adverse selection, etc. With the low range in mind, we wouldn't expect to see any funds returned until phase 3 starts to exit, and that would be at a 1.25X anticipated ROI on a deal-level basis. With profit splits and timing, this is going to be far too risky for us to pursue currently in comparison to our more routine opportunities. Appreciate all of your effort and DD on this one though. A better fit for us would be a single phase subdivide with reduced project expenses. Let me know if any come up, would love to partner accordingly, and best of luck on this one, thanks,