The Land Flipping Cycle

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Does the land flipping business sound like it could be a good opportunity for you? If so, you might be wondering where to start or how everything works. A roadmap of the land flipping cycle will be a handy guide to have to ensure you start off on the right path and head in the right direction.

If you are wondering how it all works, here is what you can expect in the land flipping cycle:

 

Step 1: Research Your Market

To make successful real estate deals, you must research your market, especially if you are new to the real estate industry. You can go just about anywhere and find properties, but no market is the same and they all differ in price. Also, your marketing strategy will be dependent on the market you enter which is why it is so important to research the market first to see what you’re working with.

In this first step, you will want to determine what your ideal property looks like. Consider the size, potential uses, zoning, location, value, etc. You will also want to get a good understanding of any laws that might apply to vacant land transactions.

 

Step 2: Call Motivated Sellers

There are several ways to find real estate deals, but the best way to find them is to connect with motivated sellers.

At Call Motivated Sellers, we do exactly that. Our team of cold callers will connect with motivated sellers and they will gather all of the necessary data while initiating a relationship with this potential seller. Cold calling is an effective inbound sales method because it connects you to people you might not otherwise connect with.

In addition to your cold calling strategy, you might want to consider other strategies such as social media or direct mail.

 

Step 3: Make Offers

Once you connect with a few motivated sellers, you should have several leads right at your doorstep. During this step, you will want to do some of your own research on the property to make sure it’s a property worth considering. Once you decide you are interested, it’s time to make an offer!

At this point, it is also a good idea to ensure you have a phone system with a professional voicemail greeting, you should also have a professional website where sellers can submit their property information. Not only is this a great way to keep things organized, but it establishes your credibility.

 

Step 4: Due Diligence

Wouldn’t you hate to close a deal, only to find out it’s not what you expected? To prevent this nightmare from happening, you must do your own due diligence. At this point, you will want to address any concerns or problems. Take the seller’s property information into consideration, but don’t hesitate to do your own research.

 

Step 5: Close the Deal

Once you have done your own due diligence and decide you would like to proceed, it is time to move on to the closing process. If you are new to the real estate business, there are two ways to close the deal.

The traditional way is to close with a title company or a real estate attorney. This way is the more expensive approach but closing the deal will be as seamless as possible and the deal typically closes quicker.

Another way is to close the deal yourself. If you are inexperienced in real estate, this might not be the best approach, as it requires more time and knowledge. This approach is commonly used when property costs less than $5,000 because hiring someone else on a deal that price would lessen your profit.

 

Step 6: List, Market, Sell

Once you officially own the property, it’s time to turn it around and sell it. While we all hope for a speedy sale, sometimes it can take a bit longer. The length of this turnaround is dependent on the location of the property, your marketing efforts, and the price you are asking for.

The very first step to selling this property is to have a great listing with fantastic pictures that will capture the attention of buyers. You will also want to post this property in as many places as possible where this post will receive the most traffic. Also, price this property competitively. Your property should have a price where you can make a good profit, but at the same time is not outrageously overpriced because this will turn buyers away.

 

Step 7: Process Buyer Leads

Once your listing is shared across multiple platforms, you will have many leads coming your way. Most of these leads will just be looking around, but you really want to pay attention to the qualified leads, or those who are ready to make a purchase. When connecting with leads, be sure to hold on to contact information so that you can use it down the road when you need to sell another property. People might not be ready to buy one moment, but a few months down the road they could be!

 

Step 8: Close the deal

Once you have found someone that is ready to make a purchase, you are ready to close the deal. Once this person verbally commits, it is time to schedule the closing date. This is the part where you get paid!

 

Step 9: Repeat and Generate Revenue!

Once you receive your income, you are ready to do the process all over again! Your first few sales might be a bit challenging, but you can rest assured knowing that this process gets easier with time and experience.

 

Call Motivated Starters and Get Started

Looking for a great investment opportunity? The land flipping business could be for you! Once you have found a market you are interested in, Call Motivated Sellers, and let’s get started!

With the help of our team, the land flipping cycle will be seamless and simple as possible.

To learn more about our services, contact our team today!

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