Welcome to the Investing for Beginners podcast. In today’s show, we discuss:
- Land investing with Jessey and Kevin from REI Conversion
- What land investing is, and how to get started.
- Different approaches to finding and investing in the best properties, plus different management principles.
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All right, folks, welcome to the Investing for Beginners podcast tonight. We have a special guest. We have two gentlemen joining us, one from Vancouver, Canada, and the other one from Korea. Yes. All the way from Korea. I have Jessey and Kevin from REI Conversion. They’re here to talk to us a little bit about real estate and land. So I’m going to turn it over to you guys. And once you tell us a little bit about your origin story, if you will, kind of how you guys met and how you guys got started. It sounds like a story.
Yeah. Thanks again for having us on the show, by the way. Yeah, so both Kevin and I started in the land investing area. I actually started with houses first and then eventually sort of moved into investing in land. I actually met somebody by the name of Seth over at Ari tipster REO tips or.com. If you’re looking for a great blog on all things, real estate investing, land investing, that is a great resource. Seth puts out a lot of good content. Anyways, we got connected, and I eventually learned about what land investing was. And I, I took a stab at it. And w you know, within just a few weeks of hearing the term land investing, cause we can’t, we don’t have anything like that in Canada. You know, I was already profiting within my first month, so it was awesome.
And then ever since then, I, I, I come from a digital background on the marketing side of things, I started helping other land investors and then started building out websites and then eventually led us to build sort of our land management tool called pebble, which is part of the, the suite of tools that we have under REI conversion.com. So that’s sort of my story. And then me and Kevin in-between met there, but Kevin, why don’t you sort of share a little bit about how you got started?
Yeah, yeah. So a similar story kind of to Jesse I’m, I’m over here in Seoul, South Korea. And I was sort of listening to a bunch of podcasts, kind of like yours, about just how to invest. I was reading a lot of books about investment investing and kind of trying to figure out a game plan for what I was going to do kind of going forward.
And I stumbled onto a random podcast where some guy was talking about flipping land, where you basically buy parcels of land, and you buy them cheap and sell them on for, for a profit. And one thing that really stuck out to me was the fact that he said that you don’t have to be located anywhere near the land actually to do this. Whereas, you know, if you’re flipping a house and you need to do construction, you can do that remotely, but it’s a lot more challenging than the land business. So I thought, Hey, this sounds like a great idea. Let me just give it a shot. And similar to Jesse, within a couple of months, I was flipping with these just crazy profit numbers, and sort of the rest was history. I guess I’ve been, and I’ve been doing it for about a year and a half to almost two years now. And then my background is actually in software. So I started building some software tools to sort of helping me along the process, sort of managing my properties, and doing some automation around things. That’s when I got connected with Jesse, and he said, Hey, this tool looks really cool. We should make this into a product that other people can use.
Well, that’s an interesting story. It’s a very interesting story yet. So as somebody that knows almost nothing about this, if I was too, I guess, kind of teach me the Padawan ways of how this works as somebody who doesn’t know anything about this, w what’s the difference between land and buying real estate? I guess we’ll start with that.
Yeah. Well, the land is a form of real estate. So the big, I think the big difference is sort of the way that you, you sort of run the business itself. The model is pretty set. You know, it’s bare-bones is quite, you know, basic, you know, buy low, sell high type of thing. But, it sort of comes down to the processes of how this all works. So the tip there, there’s sort of the, I would say the typical route that in land investor would go about building you know, his business getting, you know, acquiring property, you know, sending out what we call either direct mailers or a way to sort of acquiring property. And then once you acquire that property, that’s the other half of the business is to really just market that property and flip it for profit. I mean, that’s probably on the very, very basic side of things. Kevin, would you be able to add to that?
Yeah, I think it; it comes down to the fact that you know, in the US, there are literally millions of parcels of land. Every really every square inch of the United States is owned by someone. Sometimes it’s owned by the federal government, but in a lot of cases, it’s it is own. And one thing that I have discovered is that a lot of this land is owned by people who don’t really care about it in lot cases, the people I talk to, you know, maybe, maybe they had an uncle who owned 10 acres out in Arizona, and that uncle died and, and you know, gave this parcel of land to some, some nephew who’s living out in New York.
And this person in New York is like, well, I don’t care about 10 acres of land in the middle of nowhere in Arizona. And I’m just sitting here paying property taxes on it. I have no idea how to even go about getting rid of this thing. And I really just want it off my hands. If they get a postcard from me or a letter from me saying, Hey, I see you on this 10-acre property in Arizona, and I’m happy to take it off your hands. And here’s an offer price that I can give, give you for it. A lot of these people are, are really relieved to them. It’s a to them; it’s a, oh, this is something I don’t have to think about anymore. I can stop paying property taxes on this, and I can just get rid of it, and it’ll be off my hands.
And then and then on the flip side, I can take that parcel, and I can find people in the local area who really want land for either hunting or camping, or they’re looking to retire. You know, a big thing that I see now is that a lot of the baby boomer generation is retiring, and they’re looking to leave their city that they had a corporate job in and move out to the country. In fact, my parents did the exact same thing. About five years ago, they live in Wisconsin, and they bought 80 acres out in the farmlands of Wisconsin and built a ranch; and they love life. And that’s what a lot of people are doing. So a lot of people will reach out to me saying exactly the same thing they want. They want a place where they can retire to have some land, some space. Some people are just looking for a weekend camping getaway. Some people are looking for hunting plots, and they’re happy to pay, you know, good prices for these properties. So it’s just a matter of finding those people who are interested in selling; we’ll do so quickly and then finding the buyers.
So Then, so how do you, how do you go from point a to point B then? So how do you guys, how do you guys source out the land, and then how do you find the buyers?
Yeah, one of them really cool things about the states are the fact that you have access to a lot of this public data of who owns the properties and all that information that’s usually kept with the county. So there’s a lot of ways that you can get this sort of data. And typically, a lot of people will start off with either contacting the county for, for the list of property owners that own land in, in that county, or there are what we call sort of data providers that have this information, which you can purchase a list from which essentially come from from the county, but they’ve sort of gone through and refine that list or, or, or, or basically organize that list a lot better than the county can. Cause sometimes the county honestly has things literally printed on physical paper or on like CDs and, and whatnot.
So getting that data from a data provider, and then I’m starting to get, get to work by sort of contacting these people typically by direct mailers. A lot of times, that’s typically the path there’s sort of this typical path that a lot of investors just follow, which is, you know, getting out your what we call our mailers or a direct mail out to these property owners, letting them know that you’re interested in purchasing their property. And obviously, you’re going to get a lot of people who reject you. And then from there, you know, you’re going to get some deals that some people are interested either you’ve made an offer on that letter, or you make an offer after they’ve sort of replied to a letters ex you know, where you express your interest in that property. And, and once you sort of negotiating that property, you end up acquiring it, and then, and then off, it goes to, to the marketing side where then you go and market your properties whether you’re listing it on the MLS or you have a real estate agent who sells it for you, or you, you know, a lot of us even use something like the Facebook marketplace to flip that property.
So How, how quickly does this, how quickly does this process take? So like from the time that you buy the land to the time that you sell the land, is that days, weeks, months, years, like how, how, or does it depend on the location of the property or is I’m guessing there are lots of variables in that, in that question.
Yeah. Sorry, go ahead. Yeah, it depends on what kind of property it is. It is a lot of people going into this business like myself; we’ll start with kind of the lower dollar properties. You know, there are lots of properties out in Arizona, Nevada, New Mexico, where you can buy these prop plots for, you know, a few hundred dollars even. And you can go ahead and turn those around and sell them on Craigslist or Facebook for maybe double or triple your, the, what you paid for them. And in those cases, you can expect to be able to sell those in a month, maybe three weeks, four weeks is what I typically will typically do. Now some of the higher dollar properties, I think as you gain more experience, you kind of move up the ladder of gaining higher dollar properties. And typically, my turnaround is anywhere from a month to maybe three months; some, some take longer than others, just because they’re either bigger or they’re more niche, kind of, they’ve got a specific aspect of it. People are looking for. So it’s sort of all over the place, but I, I try to sell everything within six months if possible definitely. So that’s the timeframe we’re looking at.
I got a question for you guys. So is there any sort of selection process that you go through as you look at these properties? Or are you just kind of going down the list and just saying, okay, well, a hundred people said, no one person said yes, so I’m just going to buy the one that somebody said yes to.
Yeah, that’s a great question. So we definitely take a lot of time to do due diligence, and I’m certainly not buying every property that I get a response from. In fact, the majority I would not purchase either. There’s a huge amount of back taxes, or there’s some lien on the property, or there’s some other aspect of the property that makes me not want it for whatever reason. But you know, there’s of those people that get back to me, I’d say I’m purchasing maybe 20% off, of those that come back. And it’s it. You know it when you see a good property, check it out on Google maps, sort of figure out the lay of the land if it’s got good access and there’s no, there are no issues with the title then that’s usually a pointer that it’s a good property to, to purchase.
Okay, could you Dive a little deeper into that? Because like Dave, I’m, I’m somebody who knows absolutely nothing about this, this kind of stuff.
So you know, the only thing I could think of would be if our hypothetically wanting to buy a ranch, not by our answer, sorry, buy land to build my own ranch, I would want to make sure, you know, I had access to fresh water or something and maybe a way to plug into the grid if I wanted to, those are the only real things I can kind of think of what else is involved.
Yeah. So there are a few main things that people care about. As you said, access is probably number one, making sure that there is legal access to the property. The closer it is to a public road, the better. But some, some people actually prefer it to be a little bit off the beaten path, but just so long as there’s some way to access the property, legally, that’s sort of my number one filter criteria when I’m evaluating a property the number two is power and water. In some areas that U S water is a very difficult thing to come by. So you sort of have to; you have to know the area you’re working with and figure out what the options are for water. Whether it’s, some counties have different restrictions on what you can drill, what you can’t drill, if you can do if you can put tanks in, to have your own water supply.
But then some people, you know, even if there is no option for having water, there are a lot of people who still want just camping land. They just want to be able to come out and hunt into them. If it doesn’t have water, it doesn’t matter because they’re just; they’re just coming out there to go hunting on the weekends. So that’s definitely a few things. The terrain is one thing, you know, if somebody is looking for if you’re looking to sell to someone who wants to build a house, you need to have a property that is going to have enough room to do that. So there’s not some big cliff in the middle of the property, or you need to figure out if there are any setback requirements if it’s a really narrow property, and you need to figure out if there’s enough room with setbacks.
And so, it takes a little bit of digging, calling with the county, and just verifying that the properties are buildable. That’s definitely a thing to think about figuring out for as well, power yeah, and figuring out the zoning as well. You know, yeah. What kind of properties has certain kinds of restrictions? But a lot of times, the county or somewhere the county can direct you to, to, to find out the information on that property, depending on what you want to use that property for. You know, the best place to start is sort of start speaking with the county and asking them, you know, what can be done and on that property itself. So
I guess somewhat along those lines; you know you mentioned some of the factors involved when you’re personally looking for properties. So as it comes to who wants to be an investor, like, are there certain characteristics or certain things about the style of a way somebody wants to invest that would make you say, Hey, land investing would probably be a great fit for somebody like You?
I, I definitely think running, you know, being a land investor is really running a business. Eh, there’s, there’s, if you’re, you know, up for building processes and, and systems and, and that just because there’s so many, I guess we would call it steps to land investing. You know, you really have to be up for that. I always say real estate land investing is sort of like it’s like a; it reminds me of a very much of an e-commerce business behind the facade, of real estate investing. So it’s very unlike your typical real estate investing. But yeah, it, it very much is a scalable and a business that you can absolutely run remotely as well. So if you’re, if you’re looking to build something for yourself that you can, you know, work on remotely, again, both Kevin and I are out of the country, you know, land investing is definitely a great one.
And the cool part about it, too, is that there are so many different ways. You can; you can attack this. You can go for like what we’ve been talking about, which is being a retail investor where you’re buying properties and then selling them to the public, or you can hook up with some real estate agents, and you can partner with them to be the ones selling your property basically. So you can just focus on acquiring, and then you kick it off to your real estate agent to do the sales part of things that we know a lot of people that do that and save a ton of time doing it that way. You can also be a wholesaler to other land investors. You can; you can find the properties get them under contract, and then just sell them, sell the contract to a wholesaler for a, or as a wholesaler to another investor for a fee.
And then another, another really cool aspect. One that I’ve done quite a bit of myself is selling properties in terms of deals. This is a kind of cool way that you can generate more passive income and actually really boost up your return in the long term. And it’s basically just you buy the property as you would normally. And then instead, instead of selling it cash, you list it as, you know, some amount down and a payment per month. And so you can sell these parcels on, you know, five, seven, eight-year contracts, and you’ve now generated passive income for a number of years, and you can get a really good return on the interest rate on that as well.
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Fascinating. So I guess it really is it’s, it’s, it’s, it’s frankly, it’s way more involved than I guess I envisioned. And so, as somebody that’s thinking about something like this, a so how do you, how do you decide how active you want to be in this managing that the business because as Jesse was saying, there are so many different steps involved in all this or falling kind of the idea that Kevin was just mentioning about the term deals and having more of a passive income, is it, is it, can you have a mixture of those? Can you just do one or the other, is it is a kind of a mix and match, or is it just kind of depending on your personality?
Yeah, definitely. You can definitely have a mix and match. I think a lot of people do kind of, you know, that they get it, it does get quite involved, especially at the start, you know, acquiring property. But a lot of, I think a lot of investors actually end up putting their properties on terms and, and sort of start building their portfolio that way and, and, and, and collect earnings every month basically, but still, you still sort of have to kind of go through the different steps to be able to, you know, acquire the property, you know, and then flip it either for cash or, or, or, or terms. But yeah, you definitely can eat. How involved do you want to get in is, is really up to you. We have a lot of land investors that we work with. You know, they’re, they’re doing a nine to five or whatever they, and they’re looking to sort of building their land investing business as, as their sort of retirement plan. Some, you know, we’ve got firefighters people, part of the air force, and all sorts of different things. So it’s, as, as involved as you want it to be, you know, the day, how much volume want to go through the type of thing, that’s, that’s for definitely for you to kind of decide on that.
Another kind of a dumb question, I guess, so does land depreciate. So, in other words, do you buy a property and have to worry about it being worthless in five years?
Well, there are market fluctuations that you need to be aware of, you know, just like any other market or any other property, things are going to go up and down. You don’t have depreciation in the traditional sense on a, say up a home where you depreciate your you can, you can claim depreciation on your tax return based on the properties, you know, being used. So you don’t, you don’t have that benefit with land investing, but some of the plus sides are you get exempt from some of the restrictions around like doing terms deals is not a, is, can be more of an issue for, if you wanted to say, write a mortgage on a house that can be a lot more restrictive, whereas land selling land on a contract is much less restrictive. So there are, there are pros and cons to both sides.
Yeah. I think one of them, one of the cool things, you know, coming from the house side of things before, and, you know, and that’s why a lot of people that are in the vault, you know, with homes start seeing how appealing land is, is, is the fact that you don’t have to now deal with any structures. And the moment you have to deal with structures is, is it’s a whole different ball, game, little, a lot of different things that you have to worry about whereas land is land. Now, given, you know, you should probably take a look at your property before you purchase it. I’ve, I’ve made a mistake when I first started, but I remember me, I looked at a piece of property on Google, and I was still new to the whole thing. And it looked totally fine.
There was just a little, little pile of garbage there, but when I got my photographer out there to, you know, acquire the piece of property, and when I got my photographer to go out there, he’s like, are you serious? He do, you know what you just purchased? And it looked like literally a seven 47 just crashed five acres. So it was just a, it was a huge, huge mess out there. So but, but overall, I mean, the land is going to be landed. It’s always going to be there. No, is there like a max
Let’s say like a maximum value that you recommend for somebody who’s kind of doing it on their own. I’m sure you guys are aware of the crazy competition in real estate between real estate investment trusts, big private institutional investors, and everything like that. So are you like playing in a pond that’s small enough where those big guys won’t want to play, or are there some guidelines around that?
Yeah, I would say that compared to housing, it’s a much less competitive environment. And like, as Jesse said, there’s a lot of house people coming over to land because they see it be a lot more restrictive. I mean, if you, if you go to a real estate investing club and say there are a hundred people in the room, ask all of them, if you’re doing land and I guarantee nobody’s going to say yes, so it’s, it’s a, it’s a pretty niche market. It’s growing for sure because the profits are pretty crazy if you can find the right place to flip land, but certainly, you’re not dealing with those institutional investors. And some of that crazy competent that we’ve seen in the housing space, especially over the past five years. And,
You know, you mentioned having access to some people you’ve seen had success, or are there any commonalities you noticed or whether it was as a strategy, a lot of them tend to use or a way of doing things that, that tended to lead to success more than maybe your typical land investor.
That’s a good one. Yeah, consistency is definitely a big, big deal. Just having, having sort of a process in place where you have your deal flow coming in and going out, and then just keeping that consistent. So that’s, that’s what we teach a lot of the customers of our products is you want to sort of get your system set up and then you want to be mailing every single day, be receiving leads every single day, be working those leads every single day and sort of, and make sure that that sort of machine is going. And it’s once you build that consistency that can start sort of moving the lever is in terms of, do I want to do more deals next month or fewer deals next month, you can sort of dial-up your mailing rates if you want to kind of do more or do less.
And you can, as long as you can keep that stream, that pipeline flowing, you can sort of dial this thing into exactly the way you want. And we’ve got some people who are just doing this a couple of nights a week. They’re flipping a couple of deals a month, and they’re, they’re Jennings generating some high income, but they’re not treating this as sort of a full-time thing. And then we’ve got people making millions of dollars a year doing this whole time. So it’s, you can kind of decide how much you want to get into.
So I guess a question that I have about this is there, is there a minimum that people need to have as far as a dollar amount to start with this and you know, is, and I guess the next logical question is somebody who worked in a bank for a while, do you have to have, does your credit have to be fairly decent to do this? Like if you got a credit score of five 80, is this kind of like, eh, I’m going to have to work on that first?
Well, if you, if you have cash that then your credit doesn’t really matter because you’re paying cash; nobody’s going to be asking for your credit score. So I’ll, I’ll tell you my story. I, when I first heard about this, and I talked to my wife about it, and we said, we wanted to try, try this out. I basically had saved up about $5,000. And I said I’m going to use this $5,000 to buy my first property, do the marketing, see if I could flip it. And if it works, it works. And if it doesn’t, you know, losing $5,000 sucks, but it’s not going to break me. So that’s what that’s sort of what I did. I know a lot of people do it for a lot less, you know, you can, you can go out there and buy squares of property out in the desert for a hundred bucks, a pop.
So you can, you can really do this for a lot less, but me personally, I said $5,000, and I made that back, and I think a month and a half from the time that I first bought my first property. So so yeah, I, I think, I think I started with just under, I mean, it was also cashed about, I spent about 200, 200 bucks on, on my first mailing and then acquired my first property, two properties for 500 apiece. There were desert lots that had no access. I was like, I don’t know how I’m going to get rid of this, but whatever, I’m going to give it a shot. It seems to be like the returns, and the barrier to entry into this is just so alive. I’ve tried so many different, you know, businesses and, you know, I tried so many different things.
I was like, what do I have to lose? It’s just such a low barrier to entry. And I mean, like, as I mentioned within, I think I listed it that weekend after I acquired it. And like, I had like three people who wanted to camp out on my desert lot, which didn’t even make sense to me—and then flipping, you know, for five grand within my first four weeks. And then two weeks later, just down the highway, I had the same exact thing. And you know, already within, now this mind you, this is going to happen to everybody. But that’s sort of like opened my eyes, like, wait a minute, this is a little bit crazy here. Yeah, the F the first major, like my first D first few deals were kind of, I was making money, but I wasn’t like killing it.
And then I think of around month three, I bought a property for $3,000, and I, I listed it. And within, I think a couple of weeks, I, somebody submitted a down payment on my website for $22,000. Yeah. So, so they put a down payment for four, 4,000. So, just their down payment paid for the property. And then they did a terms deal for the rest for the 20, 20 grand. So plus the yeah, so it ended up being like a five-year or eight-year term deal. And I was just; I was so shocked. I didn’t think it was real. I was like, I’m saying, must be a scammer. Like, there’s no way this works this well, this easily, I called the guy, and I was, yeah. I was like, are you sure? Like, you really want this? He’s like, yeah. Like my family lives in the area. Like I go hiking up there all the time, loved the spot, got a great view. I’m going to build a house up there. He was, like, super stoked about this. And he was like, and I’m getting it for such a good price. And I was like, okay. Yeah.
And yeah. And it worked; it worked out great. I’m, I mean, I made, you know, whatever that is 700% profit now. Not every deal works like that. I’m not saying that everything does, but when you do get a home run like that, you have to pinch yourself and be like, there’s no way that I just did that. But there it is like, money’s in my bank account. Like it totally worked.
It sounds like you’re trying to talk him out of it.
I really was. I was like, now you’re sure, like, this is like a wooded lot. Like, it takes some work to put up a house in there, and he’s like, oh yeah, like, I know I got, I was like, I had my construction friend go check it out. He says it’s all good. Like, okay, awesome.
Okay. Yep. No problem. So how many, how many properties do you guys generally manage at one time?
Yeah, that’s a good question. So, I mean, w you know, it really depends on again, what sort of bandwidth you have in terms of, we have, you know, users of our software that I don’t know, they’re over a hundred, over a hundred properties on terms. And there are people that, you know, may only have a couple of properties, and it depends on how long in the game you have been in there for, or it’s sort of all over the place. Again, it really depends. And there’s obviously, you know when you’re sort of starting to manage so many properties, especially on terms, you know, sort of looking at software and different systems to help you automate and, and sort of allow you to get back the time. You know, it, it becomes really involved is what I’m trying to get at. And so that’s why there’s sort of software and whatnot out there that sort of help you manage a lot of these properties.
So the same with the entire sort of deal flow as well. And as we sort of mentioned, a lot of this is, you know, they’re very repeatable steps. There’s sort of no magic to this. It’s like Kevin said, it’s sort of consistency. And, and that’s what sort of led us to build, you know, what REI Conversion with, with our tool, like REI Pebble, which is a land management tool for the entire deal cycle type of thing. So, yeah, again, to answer your question, it really depends on how much you want to take on. That
Makes sense. So, you know, we talked about some of the ideas of how people can find success. What about avoiding failure? If somebody was just starting, let’s say tomorrow, what kind of a thing would you say, Hey, don’t do this outside of like, don’t buy a property that, you know, looks awful.
Yeah. There’s, you can certainly cut your teeth on smaller dollar properties. And that way, you can sort of just get the feel of the, of the cycle. And that’s the way I started out. And I would recommend anyone to do that. Just, just use the amount of money you’re comfortable with. And even if you’re not making huge profits, my, my first few properties, I, I made money, but it wasn’t, if you added up all the hours I was spending just trying to figure it out. I probably didn’t actually make any money. So those first few deals are just about a way to figure out the flow, and then, and then you can, you can sort of getting get amp it up. But in terms of avoiding failure, one thing that I did and this isn’t for everybody, but I paid for a course, an online course, just of somebody who had been doing this for years, and really did a great job of putting an end to end, like this is how the whole process works.
For me, that, that gave me a lot of confidence that I could do this and that I could follow these same steps and get this thing done. So for me, that was a huge thing I would avoid, you know, there’s, there’s certainly, there are some people selling major, like in-person training courses that are a lot of big investment and for some people, those work out, and I’m, I, if that’s something that if you need someone to really be there coaching you along the way, then that, that can be something, but I’ve also seen people kind of spend a lot of money on those courses and never really get to the point of actually flipping land. But there are some online courses that are really good and won’t break the bank. And then there’s, there are obviously ways that you can learn this stuff on your own and not need to, to do something like that.
Yeah, I, I too would, would say, you know, I, I, I get to chat with a lot of new investors and or, or people who want to get into land investing. And I think there, there’s just a lot of nuances to the whole sort of, I guess, what you call the deal cycle and, you know, going through someone’s course, and, and it’s easy for me and Kevin to say this, cause we’re not gurus, we’re not pushing any courses or anything like that. So I, I, to encourage you to know, if you wanted to get into this to look into some sort of education and because there’s a lot of nuances in, in, in the steps of, of, of doing this business and you know, when you’re starting out don’t try to reinvent the wheel just do it and stay consistent.
And as you sort of start understanding the different processes is when you can start experimenting. I, I, a lot of times I do meet a lot of people who are super excited and want to try all sorts of different things, to kind of get an edge over everybody else or whatever it may be. But, you know, they, they, you know, a lot of these, I guess these steps are, are tested about the battle-tested type of thing, and it, it works. And from there, you know, you’ll get an understanding of how you can start refining your process. Exactly.
The concept makes sense. And I can see how it can be an untapped potential and, you know, really, I haven’t really heard of it. And so it’s interesting just to hear your guys’ perspective and hear what’s possible if you’re out there willing to do the work and kind of put in the hustle. I was now staying in a cabin in the mountains last year, and I happened to pick up one of the local newspapers, and they had in the classifieds, they were selling a piece of land. And I was like, wow, that, that actually is a lot less on the dollar purse, purse percentage, not dollar percentage, but on the total dollar amount to like how many acres they were offering. And, you know, for all, I knew that could have been one of you guys, But you know, it, it Does sound like something where people can kind of pursue it and really, really go after it and, and cut their teeth. If it’s something, they’re interested in. So what are some of the things that you guys do to help people who are in that spot?
Yeah, so we have a platform inside of REI Conversion called Pebble or REI Pebble, which is sort of land management. You could call it a platform or a CRM system to help you from the entire deal flow of, you know, sending out your mailers automatically getting those out for you, because there’s no way you can get anything started without getting these mailers out, or these letters that have offers or that express interest that you’re, you’re looking to purchase their property to all the way to, you know, generating documents. We, a lot of us self close on those properties, and the system will sort of generating those documents for you; then it’ll sort of start helping you manage your marketing side of things whether they’re people interested in selling you their property or buying your property, all of that gets managed and taken care of inside of REI Pebble.
And then on the sort of front-facing thing, side of things, we also help our investors launch their websites, their websites to buy the property from people who want to sell. And then on, you know, on the other side, which is to sell their property to people who want to buy. So we sort of getting your entire system from a to Z set up allow, you know, allow it to sort of run and allow you to scale your business so that you can, you know, whether you want to send more mailings, start doing more properties it’s a lot easier to do. So, Kevin, do you have anything to add?
Yeah. Yeah, I think just getting educated, just there’s, there are a few books out there about this. Just learning as much as you can and sort of figuring out what you’re comfortable doing is an important first step.
Getting started, you know also we’ve got a podcast and, and again, I’m, I’m not an educator, I’m not a land educator or anything like that, but I do get a chance to, you know, speak to a lot of ordinary people who are getting into land and are doing really well in land in, in the land business. So you can always check that out also on our site REI conversion.com/podcast, or you can always find our podcast on iTunes as well. And again, just sort of hearing some of the stories and some of the different things that land investors are doing the sort of can shed some light on how this all works.
Ah, that’s cool. What was the podcast called again?
It’s called REI Conversion. So the three letters and then different word conversion.
Cool. REI conversion. Okay. So yeah. Well, thank you guys for being generous with your ideas and your time. I definitely learned a thing or two I’m. Sure Dave did too.
Yeah, absolutely. Thanks for having us on the show.
I learned a ton. Yeah, this was fascinating.
Yeah. If anybody has questions for us, you know, we’re always happy to chat. We’ve got a Facebook group and the website, and we’re happy to sit down and talk with you where you’re at, what, what kind of steps you might need to take to move forward? We’re not, we’re not here to try to sell you on our products, but we just really enjoy talking to people looking to get into the business.
Yeah, absolutely. Yeah. That’s awesome. We really appreciate you guys taking the time to come and talk to us and to help educate us about those. Because again, like Andrew was saying, this is something we were not familiar with and we like to share these kinds of things with our, with our listeners, because you never know who’s going to be listening to the show and go, Hey, that is the thing for me. And if we can point somebody in that direction and pulling them towards you guys, because, you know, I think you guys both sound very knowledgeable and really know what you’re talking about. And I think you both care about trying to help people too, which is, which is awesome as well. So we really appreciate you guys taking the time and coming to talk to us today.
Absolutely. I was that person two years ago.
We all, we all were; it was at some point you got to start somewhere. Right?
All right, folks. Well, with that, we are going to wrap up tonight’s conversation with Jesse and Kevin. I wanted to thank both of them for taking the time to talk to us and educate us a little bit more about land investing. So without any further ado, I’m going to go ahead and sign this off. You guys, go out there and invest with a margin of safety emphasis on the safety. Have a great week. We’ll talk to you all next week.
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