Selling raw land is basically shuffling paper to make money.
Buying raw land from sellers who are in tax default can make a profit of up to 300%. Displaying due diligence when searching for properties by using the right web tools, understanding the area, and even financing the land yourself can open up new passive income opportunities. Mark Podolsky joins Jason today to discuss how he created a booming business in the small niche, raw land market. He shares tips and tricks you can use to start your own buy and sell business, how to find the right properties and entice potential sellers.
Key Takeaways:
[2:32] Mark buys raw land at tax lien auctions and then resells the land online for a 300% profit
[5:41] The best properties are in the West and Florida
[7:01] Financing the resell for passive income
[11:12] Due diligence helps to avoid environmental issues
[14:19] How to find the right properties – start with the National Association of Counties
[21:30] A land contract, a promissory note and a purchase sale agreement
[24:09] The process of buying and selling the properties
[29:19] Moving the needle in other people’s lives via “The Land Geek”
[31:07] Raw land deal examples
Mentions:
Tweetables:
“Is raw land the passive income of the future? How to make money buying someone else’s tax problem.”
“The best raw land opportunities in the US are in the West and in Florida.”
“Do you know how to create a passive income stream without dealing with tenants?”