In this episode of the Forever Cash Real Estate Investing Podcast, Jack answers a question from one of the Land Profit Generator Coaching students about finding the most profitable properties to flip as a land investor, using county data records.
How to go about selecting profitable properties to flip:
The first step in the Land Profit Generator Land Flipping Method is to choose your counties.
Once you have selected your counties, you now need to get data records from your county office to access the information you need to start looking for land deals.
Ideally, you want to look for properties with a market value of between $5,000 – $200,000.
The next thing you need to decide is the type of deals you want to do as a land investor. You can choose to target properties in the lower market value bracket and do a high volume of these smaller deals. Alternatively, you can target the larger market value bracket to make HUGE profits on a single deal.
You can also choose to do a combination because we teach BOTH methods of land investing in the Land Profit Generator Coaching program.
What is the difference between the Market Value and the Assessed Value of a property for a land investor?
As a land investor, you must understand the difference between the assessed value and the property’s market value.
The Market Value of a property is an estimation of what a property would sell for in a competitive market. It is based on local supply and demand and on what other properties have sold for in the area, amongst other criteria.
The Assessed Value is a dollar value that is assigned to a property. It is determined by the state or similar body to measure applicable taxes.
You want to use the MARKET value to select property owners to target with your direct mail marketing campaign.
However, the challenge comes in when you can only see the assessed value of the property on the county list.
Therefore, it is up to you as the land investor, to extrapolate the property’s market value using the assessed value, among other factors.
It is essential to note that every state uses a different set of criteria to arrive at a property’s assessed value. Before you can extrapolate the property’s market value, you have to understand how the assessed value has been calculated.
You want to get this critical step in the land flipping process right. as a successful land investor, you do not want to waste time and money marketing to the wrong property owners. There are ways of solving this challenge, which Jack Bosch explains in this episode of the Forever Cash Real Estate Investing Podcast.
What’s Inside:
- Find out how to select the right records from the county
- Learn the difference between assessed and market value
- Understand how to optimize your direct mail campaigns
Mentioned in this episode
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The Benefits of Land Flipping | FCP | Episode 175 |