Posted on: January 22, 2021
WI 608 | First Piece of Land

 

How and what do you need to do to close the deal on your first piece of land? We find out in this first podcast hosted by Wholesaling Inc.’s newest rockstar coach, Brent Bowers.

If you are passionate about land and land investing and would like to know more about it, Brent is your man! For Brent, land is one of the most lucrative and best kept secrets of the real estate world. Suffice it to say, Brent is way ahead of everyone else when it comes to land investing. The good news? He’s willing to share all he knows!

If the idea of building a lucrative passive income excites you, this is one episode you just can’t miss!

Do Or Die Series – Episode 01 – How To Wholesale Your First Piece Of Land

Episode Transcription

You are in for a very special episode. Let’s say that you are not going to want to miss this episode. Wholesaling Inc. has officially launched its brand-new land wholesaling program, The Land Sharks, with Coach Brent Bowers. In the past episode with him and Brent Daniels, Brent shared how he was able to build a business that now generates between $40,000 and $50,000 per month with the land. It gets even better than that because that $40,000 to $50,000 per month is all passive income, meaning that it comes into his bank account, whether he’s working or sitting on a beach somewhere. I would strongly encourage you to check it out.

We believe at Wholesaling Inc. that land is one of the biggest and best-kept secrets in real estate investing because, unlike traditional wholesaling, with land, there’s virtually no competition. You’re able to generate passive income. You’re able to do all of that without needing to be a landlord, deal with tenants or going through nasty quarter houses. You’re also able to snatch up land for almost nothing. Brent has literally picked up double parcels of land for as little as $200.

We are super excited to be able to offer this new program. We know it’s going to change a lot of people’s lives. On this episode, which is the first of a series of episodes in the Do or Die Series, Brent Bowers is literally going to take a newbie by the hand and walk them step-by-step to their very first land deal, generating passive income. He’s going to be doing all of that live across several podcasts. You’ll get to be a fly on the wall and listen in as he helps a total newbie do their first land deal and helps them onto building a passive income-generating machine.

If the idea of building a business that generates consistent monthly income excites you, you are not going to want to miss this series. For those of you who might not know this, way back several years ago, this type of series was exactly how our head rhino, Tom Krol, got to his very first wholesaling deal. It was with his brother, Todd Toback, who hosted a series of podcasts and brought Tom sometimes kicking and screaming to his very first real estate deal. Buckle up and make sure that you take good notes on this series. You’ll get to witness Brent doing his thing live and getting someone to their very first land deal and onto a passive income-generating business. Enjoy.

I have an amazing series of episodes coming your way. I am talking to a very special guest. Before I tell you who it is, I want to tell you what we’re doing. I am going to walk this guest through a series of episodes and many steps. We are going to teach this guest how to buy and sell her first piece of land and get her passive income. I’m going to go ahead and let the cat out of the bag. Let you in on the secret. This guest is Tom Krol’s sister. Her name is Tracy Krol. Welcome Tracy, how are you?

WI 608 | First Piece of Land

First Piece of Land: Land is one of the biggest and best-kept secrets in real estate investing because unlike traditional wholesaling with land, there’s virtually no competition and you’re able to generate passive income.

 

Brent, I am excellent and excited to get started.

I’m excited to do this. This is going to be amazing. I’ve never coached somebody on live. This is new to me. I’ve coached many people on how to buy and sell land. I still have an active real estate company buying and selling land. Every day I have a team now doing it. That allows me to do my passion, which is coaching guys and girls like you on how to buy and sell your first piece of land. Tracy, what do you do for a living?

I’ve been in education for many years. I’ve been a Math teacher and now a Math coach where I coach other teachers to be great at their job. I do love my job. I do like what I do.

Thank you so much. You have a very noble job in society. How does the pay look like for something like that? You coach other teachers. You must be making $100,000 a year?

I wish. I feel like I do a good job. Every time I get into a position, I do get promotions pretty quickly. I feel like I’m always trying to work my way to the top but unfortunately, in my industry, no matter how hard you work, there is a very set pay scale. I’m making in the mid-70s and live in a big city. That’s not much. That’s my biggest complaint is I work hard, I’m good at what I do but I’m not seeing that I’m being matched with what I get paid.

You create life on your terms. You create a business on your terms.

God bless you. Obviously, you’re not doing what you do for the pay. I once heard someone say, “Could you imagine if teachers were paid like doctors and attorneys?” Paying to my mind, I was like, “Do you want attorneys, doctors and people that are in it for the payment to be teaching our children?” It’s a very noble position. I respect you.

I don’t have the patience or the understanding to teach children. I have three children and they teach me something every day. That’s patience, understanding and kindness. I don’t know how you and all the teachers do it. I found out a friend of mine from high school took a teaching position. I was like, “God bless you.” I always thought he had so much patience. He’s doing his calling now, which is teaching. Thank you, Tracy, for what you do.

I love it but again, definitely, the pay doesn’t always match and we don’t do it for the pay.

We’re going to take care of the pay here. I want to talk to you a little bit about what we’re going to do. I’m going to walk you through the steps of how to buy land at massive discounts, turn around and sell this land to the masses. How do we sell it to the masses? We’re basically going to build a buyers list that can put a down payment and pay monthly payments. That’s how we expand our buyer’s list. We have so many buyers available because most Americans are able to make monthly payments. Imagine life paid on your terms. You create life and a business on your terms.

A funny story, I had a bunch of people over at our lake house. We’re in Florida, vacationing from the 12th to the 31st of December, the three-quarters of December. I was a little bummed that time. Everyone was leaving, and then my parents ended up leaving because everyone had to get to that JOB at 8:00 on Monday morning. Part of me is happy now because the house is quiet and hanging out with the kids. The other part of me was like, “Can’t you all stay?” We want to go out in the boat.

It made me thankful and thinking, “Thank God we have these monthly land payments coming in.” Imagine life on your terms to where you have monthly payments coming in every single month and you don’t have to be anywhere on Monday if you don’t want to be there. That brings me to a question to you, Tracy, what is your monetary goal? Where do you want to be per month? How much?

WI 608 | First Piece of Land

First Piece of Land: One thing we’re doing is solving problems. We’re taking one man’s trash and turning it into someone else’s.

 

To start off, looking at this for the first year of doing it, I would want to be at $10,000 a month. I think I could be happy financially and live comfortably the way I’d like to.

I remember when I was building this business and I was trying to get out of the military. I had a W-2 position and I needed to be at $6,000 a month. I hit that in about six months and that gave me the permission to start my transition out of the military. At $10,000, that rocks, kudos for that. That is huge. That is so doable. I will get you there. I’m going to ask you during this to have something called blind faith, to take some action steps that are probably going to be a little uncomfortable. Trust in the system and the processes. Get uncomfortable.

One of the things I’m going to ask you to do is spend money. You’re going to have to spend money on some systems, getting some mail out the door. At the end of the day, that is where the rubber meets the road. We have to get the mail out of the door. I call them the Land Offer Letters, the LOL because when people receive these things in their mailbox on the piece of land that they forgot they owned, they usually laugh out loud.

When we receive them signed back, my team and I laugh out loud because we’re getting a piece of land at $0.40, $0.30 or $0.20 on the dollar. We call them the LOLs. You’re going to have to get uncomfortable. The question, Tracy, why now? What in the world has got you wanting to build a business? What made you decide now that you’re doing this?

When you go through school, I got my Master’s degree, I thought that with all my education and being a hard worker, I got promotions and I kept on moving up the ladder that at my age, I’d be in a comfortable position when it came to my finances. I realized if I stay where I am, I’m never going to hit those goals financially, where I could feel more comfortable with a salary. I do have friends who are entrepreneurs, didn’t go to college and are making more money than I am. I still have student loans to pay and other expenses. I’m looking for a change and to eventually make money that I’ll feel financially free.

What does it look like as far as your time freedom as well? Once you hit this income goal per month, what do you want to do with your time? Who do you want to spend it with? What do you want to do that you’re not able to do with the position you have now?

With my position, I have such a set schedule and constantly working even off the clock when I’m at home. I don’t have that opportunity to travel as much, especially with the lack of funds to get plane tickets. I would love to be able to travel more with friends and family. I have a lot of families that live down in Florida and be able to hop on a plane and visit them without having to worry about taking days off or not being able to afford the flight.

The more money we make, the more people we help. The more people we help, the more money we make. It’s a great circle.

Family in Florida, I have the same thing, goal. Every six months, we’re down in Florida. My friends and family don’t know what the heck I do but they know that they see me about every six months. We enjoy it so much. It’s being able to jump on a plane. You had mentioned earlier, you don’t want to have to worry about the costs. I remember talking with my wife. I wanted to make sure she was on board when we first started this back in early 2016, late 2015.

The biggest thing was like, “What if we could start covering our expenses one by one?” First was the electric bill. The second was the water bill. The third was the gas bill for the heating of our house. I remember hitting all those goals. Pretty soon, we will hit that $6,000 per month and that was my expenses then. I remember walking to a meeting when I was in the military and feeling so much lighter than we had hit that monthly income goal. Are you ready to jump into this, Tracy, as far as the action steps on what to do to start building this passive income?

Yes, if it’s possible, I’m ready to jump in and give it a shot.

Feel free to stop me with any questions. Don’t hesitate. The first thing I want you to do is to take out your pen and paper and tell me when you’re ready.

I am ready.

Mark this day down. This is the day you change your life with passive income and investing inland. I want you to think of this as a problem-solving business. You’re going to be paid very well to solve problems. At the end of the day, it’s not land, real estate, all these weird, crazy terminology and words we don’t all understand. One thing we’re doing is solving problems. We’re taking one man’s trash and turning it into someone else’s treasure. Basically, what we’re doing is solving a seller’s problem by buying this land at a massive discount.

Why do I say we’re solving their problem? They probably haven’t been paying their taxes or inherited the land from somebody, some relative. They don’t know they own it. That is true. That happens all the time. They sold it a couple of years ago or never stepped foot on it. Sometimes it’s a great burden when we take these huge burdens off these land sellers’ shoulders and then turning that into someone else’s treasure. When we buy this land at a massive discount, we turn around and offer it to the masses by allowing them easy, affordable payments. We’re now changing someone else’s life or changing their legacy. That’s something they want.

I still remember one of the first land deals I did and I did this with my father. We were signing the paperwork on the front hood of my truck to this young little couple. They had come in from Cuba. This was in Florida where we were doing this deal. They had gotten their citizenship. They went through all the routes and were making their down payment on their piece of land.

I remember praying to God like, “Dear Lord, please do not let them default. Don’t let them stop making their payments on this land because I want to see these people pay this land off to where we can transfer the deed to them and they’ll be the owners. One day, they’re going to build a house on this land.” That’s all we’re doing. We’re solving problems.

WI 608 | First Piece of Land

First Piece of Land: Do things one step at a time. Keep it slow and steady, and keep moving forward.

 

I feel like now I’m in a position where I am helping and that was something that I worried about. “Am I going to be getting into something that I can still be proud of and be solving problems still?”

You helped so many people with what you do as far as being a teacher. You always want to be fulfilled by what you’re doing. It’s not about the money. The money is great. It’s a tool, though at the end of the day, there’s so much available and abundance. I feel like the more money that my company makes, the more people we help. The more people we help, the more money we make. It’s such a great circle. The next thing I want you to write down is how much money you want to make? What is the income goal, the monetary goal? How much money do you want coming into your bank account each month from your land sales?

This is something that I’ve thought long and hard about because we all want unlimited money coming in but realistically, making $10,000 a month would take care of my monthly expenses and allow me then to start saving, building up to things and I’m looking forward to getting in the future. My goal for my first year is $10,000 a month.

Did you hear my $6,000 number and try and double it? Is that what you mean?

I’m a go-getter.

$10,000 a month is absolutely amazing and doable. We hit $6,000. It took us almost nine months to get there. You said it in your first year, how many months? What is the goal? What is the timeline? When will you be there?

I’m hoping that by the next school year, which starts in September, if I was making $10,000 a month or on track for that first year of doing this, then I’d feel confident and comfortable with making this my new career.

I want you to write this down, “September 1st. I, Tracy Krol will be making $10,000 per month, passive income.” The last thing I want you to write down is who you will be spending more quality time with on September 1st when you have $10,000 a month coming in each month? When you get out of bed, you’re working in your garden, flying a kite or sitting on the beach, I don’t care what you do, who will you be spending more quality time with each month?

Mark this day down. This is the day you change your life with passive income and investing in land.

I would definitely be spending more time with my family down in Florida and traveling with my friends. The thought of that is surreal. I would love to be making that. I hope it becomes a reality.

How do you plan on traveling to Florida so much? How are you going to get there? Are you going to drive, fly, get a boat?

With my low funds now, a lot of times, I drive because it’s the cheapest but I would like to be able to feel like I could buy a plane ticket, hop on a plane without worrying about it. I would definitely fly.

Have you ever flown first-class?

I have not flown first class because those tickets do not fit into my budget now.

If you agree to this, you got to use your first land sale to celebrate. Positive reinforcement, psychological, I don’t care what you want to call it, I am always for celebrating each deal. It doesn’t have to be extravagant but you do that first land sale, you treat yourself to a first-class ticket to Florida and it’s going to spark a great emotional, conditional. I did this with my parents.

My dad was on his land deal number 35. The first deal he did, I said, “Dad, you’ve got to take mom out to dinner, celebrate.” I remember he was like, “No, son, there’s not extra. It’s not many funds for that.” I was like, “I don’t care. Figure it out.” You’ve got to celebrate the wins. Maybe that might not be your thing but celebrate the wins. I say first-class on the way to Florida for that first trip after you do your first land deal.

I will make a deal with you that I will absolutely do that. I will stretch out in first-class, finally be comfortable on a plane and that’d be awesome.

It will change your life. I was like you. I felt so like, “I can’t spend the extra money.” Now I feel incredible. It’s a psychological and confident thing. I don’t know, I enjoy it. Let’s talk about the action steps now. Are you ready, Tracy, to take the action steps to get this land business launched?

Absolutely. Seeing my goal on this paper, I’m very motivated to get started.

One more thing about that goal, I’m glad you wrote it down. I want you to keep that in front of you so you could see it every single day, “By September 1st, I’ll be at $10,000 a month.” It doesn’t matter how you’re going to get there. That seed has been planted. Now it’s time to start watering it. Step number one, action step. This is probably one of the harder things for most of the people that I’ve coached is picking your playground. Pick that county. This is the area you’re going to be buying land at massive discounts, turning around and selling it to the masses. That is probably the hardest thing for most people.

I want to give you a couple of tips on picking this county or your playground. I talk about some examples in the course but I like to see that there are some data for these counties. I generally try and pick things that are a little bit on the outskirts, like 30 minutes away from McDonald’s and the Walmart. I also like to see that there are some buying and selling going on by either looking at Zillow or the land sites. I talk about it in the course but they’re the land sites like LandWatch.com or Landflip.com. Another one of my favorites is LandCentury.com.

That’s it as far as picking your county. I want to put a timeline on this as well. I’m all about timelines of when goals need to happen. Give yourself 24 hours to make this decision, to pick this county, pray about this, meditate on it and make a decision. I could say that there’s one common denominator of all my successful students with land buying and selling, their land investing journey is they’re decisive and take action quickly. That is the one common denominator with all of them. That’s why I put these short timelines on these things. There’s something called Parsons Law. The task will expand with the time we give it. If I only give you 24 hours, the task isn’t too large.

I did have a question when it comes to picking that playground. Do you recommend sticking in your own state or should you branch out? How does that work?

I started my own backyard and then I expanded a little bit. Now I’ve started buying in states that I don’t go to. I’m in three states and I don’t step foot on any of the lands anymore. Here’s the reason why and it was a personal thing for me because I could get emotional with the land. I remember my wife would be like, “You can’t keep all of it.” That’s what I mean by getting emotional. That’d be like such a beautiful piece of land and I’d want to keep it. She’s like, “We cannot keep all of it.” I started in my own backyard but you don’t have to be in your state. You could be anywhere in the United States.

I’ll give you my top five states is Colorado, Florida, Arizona, Nevada and South Dakota. Those are my top five favorites. That doesn’t mean that those are the only places you can make money. To answer your question, no, absolutely. I do not recommend sticking in your state. I recommend going where there are other land investors are making money. Tracy, I don’t want you to be a pioneer. I want you to get revenue coming in as fast as absolutely possible.

I was curious about that but I guess you’re not going to the land. It doesn’t matter where you are.

I want you to be able to do this from Florida, Hawaii, the Philippines, wherever you want to be vacationing. I’ve mentioned this already. We’re in Florida now and we’re still buying and selling land. We’re not stepping foot on it. My team is not stepping foot on it. If someone wants to meet us, they come to the office, things like that. You don’t have to have an office to do this. I’m saying we’re not traveling. My team is all in multiple states and also overseas.

Action step number two is the gold list. It’s not a very big list and it’s a little bit difficult to get. That’s what I was telling you about. You’re going to have to probably get a little uncomfortable. This is the County Tax Delinquent list. The tax delinquent list is basically where property owners stop paying their taxes on their land. As far as how to get this list, have you ever heard of the County Treasurer, Tracy?

I have.

Whatever county you choose, here’s how to get in touch with them. You google, let’s use an example county, El Paso County Treasurer. That’s how you find the phone number, call these guys and ask like, “Who’s in charge of keeping track of the people that pay the taxes on their land?” For example, they’ll say, “Talk to Judy.” You get on the phone with Judy and say, “Judy, I’m a land buyer. I’m looking to buy some land, get the taxes caught up on it. How do I get this list of people that are behind on their taxes?” It’s that simple. Any questions so far with that?

Is this list available in every state the same way or does it matter who you go through? Is it available for everyone?

There are over 3,100 counties in the United States. Some counties are probably willing to have it available. In most counties, 99% of them will, but you might have to talk to a few people to get. Here’s the thing. If the county is that difficult to deal with, next, choose another one. That’s one thing I recommend. I have some other suggestions for that as well. I’ll get into it in the course, as well as I’ll coach you through that as we go. I want you to focus on one list first and that is this goal list, the tax delinquent list, because you will find the most motivated sellers on this small list.

The ones that are the ripest fruit or the low-hanging group, whatever you want to call it. Sometimes it is a little difficult to get, and that’s where you have to talk to a couple of people. If they say they don’t have that list, then I like to ask, “Do you charge property taxes in your county?” If they say yes, then there is a list. They’ve got to keep track of these people that are not paying and are paying. Those are the two action steps. Pick your playground. Give yourself 24 hours to do it.

After you’ve picked your playground, time to contact the county treasurer and I gave you another 24 hours to do that. All this within 48 hours, not a lot of action steps. I don’t want to overwhelm you. I know you have a very demanding job already. We’re going to do this one step at a time, keep it slow and steady, and keep moving forward. Any questions about that?

No, I’m excited to get these action steps going and move forward.

Remember blind faith, get uncomfortable, keep that goal in front of you of $10,000 per month, September 1st and you’re going to be spending way more time with friends and family in Florida flying first class.

It sounds awesome.

Tracy, thanks for taking the time. I’ll see you in the next episode.

Thanks, Brent.

Talk to you later. Thank you.

I hope you enjoyed that episode. Be sure not to miss the next episode where we are going to learn if Tracy did the action steps that Brent laid out in this episode and see how much further along she is. The bottom line, Tracy is ready for a real change in her life and I believe that she’s going to totally crush this. I’m excited for her. We’ll see on the next episode.

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About Brent Bowers

Brent Bowers, is an investor and coach with a focus on buying and selling vacant land. As an Army Officer with over 8 years of service, Brent was spending a great deal of time away from his family, and he knew he needed to make some changes in order to be more present with his wife and children. In a short period of time, Brent was able to expand his business, hire a team, and (most importantly) spend quality time with his family while still working hard and helping others.

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