“You have to fail forward every day to win in life.”
Wise words from our land guy and coach Brent Bowers. Today he is going to bring value to the table by giving us an eight-step roadmap that we can follow in our land wholesaling ventures. These steps will walk you through the dos and don’ts of the business. Make your real estate dreams happen by listening and learning from this episode.
The 8 Step Roadmap to Wholesaling Your First Raw Vacant Land Deal
Are you sick and tired of managing ten different platforms to run your real estate business and spending premium prices on all of those platforms? Look no further than Wholesaling Inc’s tool of the month and that is REsimpli. It is not just a great CRM for your wholesaling leads, a dialer for your cold calling, and a skip tracing service. It is so much more than those things. REsimpli will allow you to do things like list stacking and automated drip campaigns like following up with motivated sellers with emails, texts, ringless voicemails, and even direct mail campaigns. These guys haven’t left anything out and even have their driving for dollars app.
This is truly a one-stop solution for all of your business needs. REsimpli will not only simplify your life but will streamline your entire real estate business and save you not just a ton of time but also a boatload of cash. We recommend a lot of different tools to get the most for your money but REsimpli has no equal. For a limited time, if you go to the website, you will save 20% on your first month. To take advantage of this incredible discount, head over to REsimpli.com/wholesalinginc. Stop wasting time jumping around from platform to platform and start spending your time where it counts, doing more deals. Let’s get into this episode.
Wholesaling vacant land is game-changing and life-changing. It will give you so much financial, time, and even geography freedom. I’m going to be teaching you step-by-step how to wholesale raw vacant land. I’m going to give you eight steps, some free resources, and the exact tools that I use every single day in my business. I’m so happy that you don’t have to do it as I did. Back in 2015 and 2016, I was figuring this out as I was failing forward. You have to fail forward every single day to win in life. You’ve got this episode that teaches you exactly how to do it.
Step 1. Pick Your Playground
Let’s get into step number one. That is picking your playground. That’s the area that you are currently in. I like to say, “Go where you are planning.” You are already in the area and there’s already vacant land all around you. You might have to push out a little bit. Maybe you are in a crazy hot area like Phoenix, Arizona, no pun intended or maybe you are in an area like Washington, DC, or Virginia that’s densely populated. Don’t be afraid to go out a little further. I recommend doing about a 2 to 2 and a half-hour radius if possible or if need be. In the very beginning, some of the parcels of land that I was purchasing were an hour and a half away from my home or two hours away sometimes.
I would have to drive to this land on weekends. That’s okay. It’s just a Saturday. I used to bring my wife and my newborn baby out with me on these runs. We make it a family trip. We would usually have lunch and breakfast or get some coffee on the way. Make this a pleasurable experience because it’s not about suffering as we grow. It’s about growing as we enjoy our lives. It’s all about the journey. One day, you have 310 land deals behind you or in your belt. You want to make sure it was a pleasurable experience. That first step is picking your playground.
Step 2. Get A List Of Landowners To Communicate With
Number two, we have to get a list of landowners to communicate with. I’m going to give you that list very easily right here. It’s one of the resources that I use every single day in my business. That is PRYCD.com/thelandsharks. This is exactly where you can go to get a list of landowners in your county. What’s cool is they show you the estimated value of the current land the way it is. Number three is we’ve got to communicate with this list. The best way to communicate with the list is by sending them a postcard. That postcard is simple.
Step 3. Communicate With The List
It says, “Mr. and Mrs. or Mr. Johnson and Mrs. Johnson, I would like to purchase your land for a fair price. If you are interested, give me a call or text me if you want to get an all-cash offer.” The postcard is very simple. It’s for free. I’m only going to ask for your name and email. You put it in there and we are going to send you the postcard. That is by going through the link, TheLandSharks.com/postcard. Hang in with me. We are still on step number three. That is communicating with this list. Once you sent them the postcard, wait for 3 to 9 days and you should start receiving phone calls.
It’s okay to stumble or stutter because it makes you human.
I don’t like to put my personal cell phone number on these. I like to buy a $3 number from CallRail or maybe a Google Voice number. Here’s the key. You’ve got to answer the call. If you can’t answer the call, at least text back or return the voicemail as soon as possible. Sometimes it’s seconds, not minutes. If they are motivated and ready to go, you’ve got the fire started and they might call someone else quickly. I want you to return to that call quickly. What do you say to them? You might be thinking, “What in the world do I even talk to these people about when they call?”
I’m going to give you another free gift. This is something that my team and I have come up with. We have tested it and tried it for over 310 parcels of land. This list can be found at TheLandSharks.com/script, as in a script that you can talk to your sellers about. Here’s one key. I want you to learn this script, internalize the script, and ultimately make it your own and listen. There’s a Level 5 listener. Something I learned from Sean Callagy over Unblinded is Level 5 listening. Let me give you a quick definition of Level 5 listening.
That is listening with no intention to speak or put your agenda. You want to listen to what your seller and landowner are saying and understand them. Make sure they feel seen, heard, felt, and understood. We want them to feel understood and then acknowledge what they said by Level 5 Listening. Why in the world would they even be selling this parcel of land? This script will have questions like, “Mr. or Mrs. Seller, it sounds like a great piece of property or land. Why would you ever consider selling it?” Listen, take notes, and understand why they consider selling it.
You are also going to ask, “Mr. and Mrs. Seller, what do you think the land is worth? How did you come up with that? Oh. Hey. By the way.” It’s okay to stumble or stutter on your script because it makes you human. You don’t want to sound like you are a talking robot reading from an actual script like I am on this. It’s completely freeballing. I’m not reading a script.
That’s why it makes it more authentic and original. We make mistakes. I stutter, slur, and spit sometimes. It’s okay for you to do that too because you are on the phone, so the spit won’t reach the other side. Understand you are going to make mistakes and learn the script. The best way to do it is by communicating it with real sellers of real land.
Step 4. Get That Property Under Contract
Step number four is to get that property under contract. I don’t like to say contract in front of the sellers. I like to say purchase agreement because I want to keep painting that picture in their mind. One of the questions I like to ask when I’m talking about the purchase screaming is, “Mr. or Mrs. Seller, there’s one thing I forgot we haven’t talked about yet. How do you want to receive your money? Is it a wire or a check? How do you prefer to be paid by the title company?” I always want to keep painting that picture of the ultimate goal of me buying this land and then getting paid so they can keep that in their mind.
You might be thinking, “I don’t want to say that because I don’t have money.” Stay with me. I’m going to show you how to find all the money you will ever need to purchase properties. I’m going to give you my purchase agreement that I use every single day. I have raked in tens of millions of dollars of properties with this purchase agreement. You’ve got to make one promise to me. That is to have your real estate attorney take a look at it and make sure it’s legal in the state that you are in. Head on over to TheLandSharks.com/contract. That is yours for free.
Step 5. Run Your Due Diligence
This contract is very special because you can assign and sell this contract to a cash buyer. That’s one of the ways that you will be able to accumulate money for every piece of land, house, apartment complex or any piece of property that you get at a discount. You will have cash buyers beating down your door to purchase. Number five, you want to run your due diligence and understand everything there is to know about this piece of raw vacant land before you wholesale it to your cash buyer. I’m going to give you the exact due diligence checklist that we use every single day in my business. That is TheLandSharks.com/dd.
Step number six, you want to market this contract everywhere. I want you to put it on Craigslist. You might be like, “What do I put on Craigslist?” Put pictures of the property, explain the property, and explain that your suggested purchase price is this much. You need to close by this date. I want you to talk about this piece of land like it’s the most magnificent thing ever. I want you to hand it over to someone on a silver platter because here’s the thing. You purchase this land at a discount. This is wholesaling vacant raw land. You’ve got to get it under contract at a discount so you can make a profit.
At the end of the day, if we’re buying something for $1 and it’s worth $2 and we’re selling it for $1.50, we made a $0.50 assignment fee. Let’s do real-world cool numbers. The land is worth $100,000. You got it under contract for $50,000. You find a cash buyer that wants a 40% discount. You’re selling that land to a cash buyer for $60,000. You got it under contract with your purchase agreement for $50,000. The land is worth $100,000. You might be thinking, “Why would a seller want to ever sell me something at $0.50 on the dollar?”
Step 6. Market Your Property Everywhere
Why do people take Rolexes to pawnshops? Why is there a pawnshop almost on every corner in these cities? It’s because people sometimes need money fast. They need speed and convenience. All we are is a pawnshop for raw vacant land. Back to step number six, which is marketing your property everywhere. I talked about Craigslist. I want you to put this on Facebook buy-sell groups. Join all the buy-sell groups and talk about this property. If it’s a Florida or an Arizona property, I want you to put it on Michigan buy-sell groups or Wisconsin buy-sell groups.
Remember to take time to celebrate each one of your successes.
You might be thinking, “Why would I put it away up there?” What’s going on in the country? There is a snowstorm attacking them and assaulting these people. They are sitting in their house, freezing, building fires, keeping their furnaces on, and spending tons of money to heat their houses. Guess where they are dreaming they live? It’s something tropical or a warm place like Arizona or Florida. This is why I’m selling my Florida and my Arizona land to these people in Michigan and Wisconsin. Think about that. Market, we need to get our property everywhere. I want you to be omnipresent.
Next, I want you to put signs on this thing all around the property, at stop signs, at red lights, and at on and off-ramps. Know your city’s codes. If they only allow you to put them out there Friday at noon to Monday at noon, then follow the rules and do that. There’s Facebook, Craigslist, and signs. I love LandCentury.com. I had a student make a $50,000 assignment fee by putting a parcel of land that they found at a discount under contract. They sold their contract by signing that contract to a cash buyer. They did this on LandCentury.com. Your first ad is $15. Put your property everywhere.
You’ve got to think and work like you’ve got a $10,000 paycheck coming your way. If you don’t work hard, fast, and smooth enough, you are not going to get paid. Don’t be afraid to go out there and make some mistakes. You are going to break some rules, aggravate some people, and have some haters on Facebook. I call them trolls because they have nothing else better to do. They are sitting in their house in Wisconsin, trying to keep themselves warm, and spending tons of money. They are aggravated and depressed. They are not in sunny South Florida.
Step 7. Get Your Cash Buyer Committed
Understand the trolls are going to troll. Haters are going to hate. Step number seven is to get your cash buyer committed. This is the cash buyer you found off Craigslist, a sign, a Facebook buy-sell group or Land Century. Get them committed by having them fill out that assignment agreement. Granted, I’m going to fill it out for them. I want you to fill it out for them and then DocuSign it, scan it, email it to them, bring it to them, and have them sign their signature. That’s saying that they are going to put an earnest money deposit down at the title company and purchase your contract for this much money.
I’m going to give you this exact assignment agreement that I use every single day in my business but here’s one more promise. You’ve got to have your real estate attorney check it out and make sure it’s legal to use in the state you are in. For instance, in Illinois, you can’t use this unless you are a licensed real estate agent. You might have to buy the property, turn around, and sell it quickly. We call that a simultaneous closing or a double closing. You buy it and then mark it. Know there are always other options. If an attorney tells no, ask him, “Why? How can we change it? What can we do? There has got to be another way around.”
Step 8. Go To The Title Company
It’s like, “If daddy tells me no, I’m going to ask mommy.” That’s it. It’s just asking mommy or daddy. It’s the call the mommy or daddy game. It’s the same thing with attorneys. If one tells you no, ask why. If they don’t explain it, find another attorney. They are a dime a dozen. Step number eight is time to go to the title company. I call this celebration. We go, the seller gets paid, and then the buyer comes in right behind it. I want you to separate these two. I want the seller to come in and then 30 minutes later, the buyer comes in. I don’t want these people sitting at the table together because ultimately, the seller thinks they are selling it to me.
What I tell the seller is, “I’m assigning this contract,” but I don’t get into all the details because a confused mind never makes a decision. You want to keep this super simple. Keep the eye of the prize in front of the seller and the buyer. I don’t ever lie. I tell them exactly what’s going on if they ask and explain as much as they like. You want to be careful about trying to explain the entire process because they are not out there educating themselves like you are and buying properties. You’ve got to remember that most of the time, these sellers have never sold a property before. You want to keep things so simple and get it done for them.
Back to getting paid at the closing and the celebration, once you get that check, I don’t even care if it’s for $1. You need to celebrate with your family and spouse, take the dog on a walk and your children, and celebrate this because remember, they are the ones behind your success and the ones that seeing you away, working so hard, and learning all this stuff. Remember to take time to celebrate each one of these deals. If you are interested in learning more about this and how I changed my life by buying, selling, and wholesaling raw vacant land, it got me out of the military.
I was in the military for eight and a half years. I was only home for about four of those years to sleep in my bed. I was always gone, training, deployed, where someone told me to be at the time they told me to be there and wearing what they told me to wear. If you too want to change your life like I so desperately needed to, head on over to TheLandSharks.com, fill out a form, and schedule a call with me and my team. We will see what your real estate investing goals are. I promise you we are going to take such great care of you over at Wholesaling Inc and The Land Sharks because students come first.
- Be sure to join the Wholesaling Inc Facebook group
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.
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.