Posted on: April 09, 2021
WI 663 | Wholesale First Land

 

Success is almost in Tracy’s hands as we are on the 12th and final episode of the Do or Die Series, few more days towards 90 days in doing wholesaling! It has not been an easy journey for Tracy, but she has gained a lot from Brent’s coaching and journey experiences. In the previous episode, Tracy gave positive updates on the properties she has. Tracy and Brent also talked about partnering up with JVs, finding the right JVs to work with, and working with realtors.

In this final episode, Tracy will share the deals she closed and those on the pipeline. She will share her feelings in undergoing the journey and getting her first deal. She will also share her challenges and advice for others who want to do real estate investing.

Will Tracy finally gets paid for all her hard work? Find out in this episode. Join her in her real estate investing journey!

Do or Die Series – Episode 12 – How to Wholesale Your First Piece of Land

Episode Transcription

It is here, the final episode of the Do or Die Series, How to Wholesale Your First Piece of Land with Brent Bowers. Does she do it? Was Tracy successful and finally getting paid? In the last episode, we learned that she had a lot on the table. As you know, it doesn’t mean anything until you get a check in your hand and that check clears. This is it. Did she do it or is she going to throw in the towel and continue working as a teacher? Remember, there’s no right or wrong answer here. This stuff is not easy and it’s not for everyone. If you’ve been following along, you know what I’m talking about. This one has been a nail-biter. Let’s jump into this final episode. Enjoy.

Tracy, this is the final episode of the 90-day Do or Die. Thank you so much for going through this with me. You’ve accomplished a lot. You’ve done a lot of things. I think a lot of people are waiting to know your status update. What’s going on? I know a lot has been going on. We haven’t talked in several days.

I am excited. I can fully announce that I closed on my first deal. It was for a lot more than I was expecting. At first, I had 11 acres. It didn’t look promising. It was scary. I found out that we’re going to get water out there and it wasn’t buildable. I went through a journey, calling the county, getting on the phone back with the seller, having to renegotiate, feeling like I’ve lost it. It’s not under contract. There was a week where I wasn’t even talking with the seller. When you encouraged me like, “Let’s try to get it under contract.” I did and I got it under contract for $23,000. It didn’t look like it was going to go for much more than that. It turns out that it’s closing for $45,000. It’s a huge profit on that one.

What was your first offer? What did you send that Land Offer Letter or the LOL out for?

The LOL was out for about $29,000 because it was 11 acres and there was that generated number. When he called me, he was like, “You offered me $29,000.” I was like, “That’s not good.” I tried to get him down. We were talking about $5,000. He was like, “You must be crazy. I’m not giving this way for $5,000,” but we agreed on $20,000. He was unhappy with $20,000. I was like, “All right.” $23,000 was the lowest he was going to go. I didn’t feel that confident about it but it worked out.

You still got them down $6,000 more. That’s amazing negotiation skills. Imagine if you would have gotten the thing under contract for $5,000. You got it under contract for $23,000 and sold it for $45,000. What does that look like as far as the profit?

Not everyone wakes up and says, “I’m going to buy land.” No, they go online. They start looking.

That’s crazy to me to have $22,000 in profit. I started this journey. I know this is called Do or Die and I’m definitely doing it. I had moments where I doubted myself and the process, but this is all coming together and making me feel confident. I know that this is real and something that I’m going to continue to do and make a lot of money doing it. I needed this win. I find moments of doubt. I’m like, “Can I do this? Is this real?” Even though I know it is, it still creeps in and I needed a big win. I got a big win and now I am fired up because I have these other properties under contract. I’m confident that they’re going to go through. I’m going to get a buyer and it’s going to happen again and again.

There’s a buyer for every piece of land. That’s okay. Sometimes you want to negotiate down because we’re not so sure of it. It was a brand-new area for you. It was the first deal. At the end of the day, you did all the right things and you made a bigger profit for yourself. That’s amazing. Nice job. Congrats on that. I know you have a whole other list of things going on too. You’re about to sell the 4 acres. Tell me about that.

I had found some amazing buyers. I’m starting to build my buyers list and talking to agents in the area. You mentioned doing that but it was a little scary for me at first. I’m trying to figure out the steps and understand what to do next. You’re like, “Talk to agents, do this, do that.” I was getting a little overwhelmed thinking, “Who do I call? How do I know?” I found an agent who was selling a property right next to my 4 acres. It was so great because I told her. I was like, “I don’t understand what’s going on with this community. What’s the HOA like?” I was able to get all my questions answered by this realtor who was like, “This is why land over here sells for this much. This is how you know how to price it.”

She was giving me all this juicy information for nothing, just to share her knowledge of the area. I feel like I’m getting to understand where my land is and the area that it’s in. I have two properties under contract in the same area. It’s a matter of getting it sold. I talked to two serious buyers in that area. They’ve lived there their whole life. They’ve been picking up property. Their families are into buying property. One of them said that this property wasn’t for him, for whatever reason. They thought it was a little too steep. He’s like, “I will buy property from you all day long. You just let me know. If I don’t want it, I’ll know someone who does.” I’m making these awesome connections along the way that are going to help me in the end.

I want to break down some of that. I want to pull some of that apart. You aligned yourself with an amazing realtor in that area. She sounds like a total go-giver. Not to be confused with a go-getter, but a go-giver, figure out a way to serve this person. It might be listing your land with this realtor. It might be connecting her with whatever. You never know. Figure out a way to serve her. This is going to sound like a beautiful relationship that you’re creating. We always have a goal on my team for every piece of land that we have for sale. Number one is we want to sell the land.

WI 663 | Wholesale First Land

Wholesale First Land: Don’t spend your hour being frustrated. Instead, get some of your questions answered or get on the phone and make it happen.

 

Number two, if that land is not the right fit for that person that’s inquiring about buying it, we want to get their digits. We want to answer all their questions and serve them. We want to explain the area and this and that, and why this might not be a good fit for them, or maybe this piece of land over here that we have would be a better fit for them. We get those digits because we’re building the know, like and trust thing. We’re building trust with these potential buyers and they’ll buy land from us later on down the road.

Not everyone wakes up and says, “I’m going to buy land.” They go online and they start looking. They find Tracy Kroll. They’ll research you and continue to come back to your site. You send them emails every once in a while, showing them your featured property of the week, your deal of the month or whatever you got. Eventually, they’ve been seeing your stuff for eight months. They’re like, “I love Tracy. I heard her on a podcast. I’m going to buy some land from her.”

We’ve sold land by being on this show. People are looking me up and finding my company and buying land far from us. Thank you so much, Tracy, for that. You’re building that trust chain down the road. You have two goals, build that buyer’s list. That’s getting the digits, the email and the phone number, and serving those people. It’s the same thing with that realtor. That is amazing. You’ve become a humble student with her. You didn’t go in there like a know-it-all. She wanted to spend her time with you sharing the knowledge that she’s built up.

She wanted to give back to you because you probably went in there as you said, “I didn’t know about the HOA. I didn’t know about the area. Is this buildable?” You went in there as a student asking questions rather than, “I want to do this.” You’re trying to run the conversation. If someone asks you for help, 99 out of 100 people are going to say, “Yes, I will help you.” That one person might be having a bad day or they’re in a hurry. Most people are out to do good and serve.

I found that people are usually nice and willing to help. I’m now making that part of my due diligence. It’s to get a realtor on the phone in the area that I’m looking at to see if they’ll answer some questions. It’s something that scares me. I’m like, “This land is so far away from where I live. I can’t even go check it out.” I know you said that’s not very important. When buyers are asking me questions, I’m like, “I feel so not knowledgeable.” It’s nice to hear from someone who lives in the area who can tell me like, “That’s on that side of the mountain or this part. There’s water going through this way.” I’m like, “I didn’t know that. Thank you for telling me.” It’s been awesome.

Slow is smooth, and smooth is fast.

That goes to show you right there. Most people are nice and willing to give you information, share and help you. You get what you look for. Have you ever bought a new car or a new pair of shoes or that new phone? All of a sudden, when you’re driving down the road, you see that car or shoes or phone everywhere. It’s called a reticular activator. It’s now activated in our minds. Our mind is actively looking for other things like it. We see that. If we’re looking for people that are going to help us, love us, treat us fair and that great piece of land, or that person that wants to get rid of that burden, we’re going to find those people. You’re getting what you’re looking for. Any other updates?

I do have my very first contract that I ever got signed. I’m still working on it. It’s been a journey and a half. I find that this will probably happen every so often. I got a piece of land under contract. The guy was not on the deed. His parents had passed a long time ago. He was in the will. He didn’t have a fire in him to get anything done until he started to realize, “I’m not going to get my money until I started to follow along with what I’m being asked to do.” Now he’s hooked up with a lawyer in the area. They’re trying to get this property under his name. I still think we have a little bit of a road ahead of us. It’s another property under contract that’s ready to go at a different timing than what I wanted, but that’s okay.

You build that pipeline up. This is why it’s called the 90-day Do or Die. You’re three months into this and told me about 3 or 4 parcels of land, one $22,000-deal. That is the journey. I want to repeat something that you said for all the readers. Here’s the reason why Tracy Kroll is a true champion because it’s her mindset. It’s been a journey and a half. She didn’t say, “It has been a big old pain in the butt or this guy’s killing me and he’s lazy or everyone’s stupid.” It’s been a journey. We wake up every morning. We’re only guaranteed one thing and that’s to have challenges throughout our day. If we know that we’re going to have a challenge and our job is to get through those challenges, or we can call it even a better word, a journey, it’s a great mindset. That’s why you’re doing what you’re doing. Any other updates?

Other than that, I do have a lot of leads. I’ve been working my leads, calling people back, and researching properties. I find my biggest challenge in this journey is that with my full-time job, it’s been hard to get back to people as fast as I’d like to do all that research that I need to do. I’m coming up here in a couple of months on my summer break and I can’t wait to give my land business 150%. I would do it right now if I could but I can’t do that to my full-time job and my students. I see something spiking in the summer for me when it comes to my business. I’m excited about that.

I challenge you with one thing, Tracy. This is your next 90-day. I’d like to keep coaching with you and checking in on you on these things because we’re done with the 90-day Do or Die. I like you to start putting systems in place where you’re working on your business rather than in your business. You’re in your business, talking to sellers and buyers, sending out your LOLs, your Land Offer Letters. If you accept this challenge, let’s do another 90-day Do or Die and we won’t be on the show. It won’t be as much pressure, but you are working on your business. When summertime hits, you can do what teachers are supposed to do is take a break during the summer and let your business serve you.

WI 663 | Wholesale First Land

Wholesale First Land: Sometimes we’ve got to slow down and let all the chips fall with that dust settles. That way, we can see clearly the next step.

 

Let’s create a team around you to where your business will serve you to where you can take some time off during the summer. When you do work on your business during the summer, not in your business, you’re improving processes. There are always going to be problems, challenges and journeys. If you accept that challenge to start working on your business, you will have something a year from now that you would never have dreamed possible.

I accept that challenge 100%. I’m in.

I want to go back to some questions I had for you before we started this. We talked about the incredible deal you did out in Colorado. You bought it for $23,000. You sold it for $45,000. I want to know what did it feel like finally doing that first one, getting the proof of concept, the confidence that you said? What did that feel like? Did you drive your car 100 miles an hour listening to Britney Spears or Shania Twain, my favorite, going down the highway celebrating? What did it look like? What did you feel like? Tell us about it. That’s what people want to know.

I was blown away. I was super excited. I went out to a nice fancy dinner like I promised that I would do. I got myself a very expensive fillet mignon and enjoyed it. I think more than anything, getting that first one done ignited my fire to keep ongoing. I’m an athlete. I know anytime I’ve done a crazy new move on a basketball court or won a game, I can’t wait to get out there again. This has solidified that this is real. This is possible. I can do it. I’m ready to celebrate, continue to keep going and take that onto my next properties. I want to one day be able to have my own business where I’m not going to the 9 to 5. I can step back a little bit, enjoy life and not feel so stressed out financially, and being more financially free.

I didn’t know you went and celebrate it. I am so proud of you. You have put a positive condition on winning and it doesn’t even have to be a fillet mignon. It’s that celebration. Good for you. I am so happy. I know you had some tough moments and times. You probably wanted to quit a few times along the way. Having gone through all of this, what have you learned about yourself now that you’re on the other side?

One thing that I can admit to is that when things are getting tough, I tend to spiral, get overwhelmed, get frustrated and feel like I want to give up. I am competitive. I did not give up at any point. I kept going but I’m learning not to allow myself to get to that frustration level. All it did was make me feel super stressed. My work wasn’t getting done because I was so focused on the negative that I wasn’t being productive. I was like, “If I would have spent that hour, instead of being frustrated, getting some of my questions answered,” or like you would say, “Get on the phone and make it happen.”

I started to switch that. In the first couple of weeks, I would have a lot of questions. I was afraid to make a mistake and fail. When I stopped doing that and I got on the phone, asked the questions and paired up with people who knew what they were talking about, I found that it lowered my frustration and that feeling of being overwhelmed. I’m not going to lie. I definitely had those moments where I’m like, “Why am I doing this? This is too much for me. I can’t take it.” I even sometimes talked to my brother and was like, “I don’t know. This is way hard.” He’s like, “Are you going to give up?” I’m like, “No, I’m not. I can’t.” That would be my biggest challenge. I’m so happy that I stuck with it because I got into my first closing. I know that this is something that I’m going to continue to do.

We found during this journey that people are really usually nice and willing to help.

Something I was told in the military, and it took about a year for it to sink in for me, as I am one of those people. I want everything to work. I’m afraid to fail. I’m juggling all these things. I get so anxious and overwhelmed. I won’t sleep at night, but I was told this one thing and it took about a year for it to finally sink in for me to understand what it meant. Slow is smooth and smooth is fast. Sometimes we’ve got to slow down and let all the chips fall with that dust settles. That way, we can see clearly the next step.

We don’t have to go super fast. We don’t have to take all the phone calls. We don’t have to reply to all those land offer letters you’re getting that are signed back. You put them in that desk drawer and get to them when you get to them. Get to those buyers when you get to that buyer. Get to that seller’s questions when you get to it. The key to success quickly is doubling your rate of failure. Most winners and most champions are willing to fail. They fail more often than anybody else but they get to celebrate as you did with the fillet mignon and the white tablecloth dinner. What would you say to someone that’s reading right now and looking to get started in land that has a full-time job? They might be a teacher, a firefighter or a welder. What would you say to them?

I would say that this is something that is real. If you remember from the beginning when we started, I had a lot of naysayers. They’re like, “What are you doing? Is this a real thing?” It is very real and possible. It’s something that is changing my life. I’m so happy that I decided to take this challenge on and do something for myself. I look at it as something that is going to change my future. That’s very significant. For someone who’s reading this right now, if you feel like, “I don’t know if I can do it,” I’ve been there and I did it. It’s very real and possible if you’re willing to commit. As with anything, you have to put your work into it, but it’s very possible. It’s becoming easier as time is going on. I’ve learned the process in the beginning. It was a little confusing. I learn all the little steps. Now I’m like, “This is not that hard.”

The first one is always the hardest, that’s for sure. There’s always going to be naysayers. That’s another guarantee in life we have. If I’m ever trying to do something worthwhile, I’m afraid to tell people because I don’t want someone to say it can’t be done and put that doubt in my mind. I know there are no statues. Every creative is a critic. The naysayers will always be there. We can always count on that. You’re living proof and it will get easier. Thank you, Tracy, for going through this journey with me. Thanks for trusting me to be your coach. It’s been an absolute pleasure. I like being surrounded by winners. It’s been good. It’s been fun for me. I appreciate it so much.

I cannot thank you enough. You’ve literally changed my life. Thank you so much, Brent. I have enjoyed it. I can’t believe we’re on our last episode. It’s awesome.

We’ll have to do a recap and see where you’re at with your passive income, how many land deals you’ve done if you’d be willing to do it. I’m looking forward to that if you’ll accept that. I’m also looking forward to seeing you work on your business and what your life’s going to look like on your summer break because you deserve it. You’ve been working your full-time teaching position. You’re coaching teachers. You’re tutoring students. You’ve been doing land deals. I don’t know where you find the time to sleep.

Thank you. I’m in for all the challenges. We’ll definitely have to catch up. I think I have a lot of deals in my future, so I’ll be happy to talk about them.

If you’d like to start making money with land investing, I’d love to help you personally. Head over to WholesalingInc.com/land and schedule a call with us. Either I or someone from my team will hop on a call with you and learn more about what you’re looking to do in real estate. If we feel like it’s a good fit, we’d love to invite you to the Land Sharks Program. Until next time. I’ll catch you later.

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About Brent Bowers

WI 623 | Wholesaling LandBrent 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.

While Brent invests in many different types of real estate, his favorite investment strategy deals with buying and selling vacant land, and he enjoys sharing his expertise in this area with his coaching clients.  Brent chooses to live his life based on Bob Burg’s quote, “Your influence is determined by how abundantly you place other people’s interests first.”  He is passionate about helping other people find success in real estate investing, particularly in land investments.

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