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Episode
Pricing Offers for Vacant Land - Interview with Luke Smith of RuralVacantLand.com
Views
37K
8.5× the show’s average
Episode37K
Show avg4K
Published
7y ago
Aug 13, 2019
Length
1h 52m
show avg 1h 03m
From the show
Chapters
Seth Williams and JP Moses recently had an opportunity to sit down with Luke Smith of RuralVacantLand.com and talk about the thought process he goes through when pricing his offers on vacant land properties. As you can imagine, there are A LOT of variables to think about when pricing offers for land (understanding market values, the highest and best uses for the property, the potential for subdividing, etc) and we spent almost two hours talking about the ins and outs of what's involved here. Be sure to check out Lukes website: https://www.ruralvacantland.com And his YouTube Channel: https://www.youtube.com/channel/UCvXeLL1VlscFlVtF7AtvVaQ Join Our Community! REtipster Forum: https://retipster.com/forum REtipster Facebook Group: https://retipster.com/facebookgroup Follow Along! YouTube: https://retipster.com/youtube Facebook: https://retipster.com/facebook Instagram: https://retipster.com/instagram Twitter: https://retipster.com/twitter Pinterest: https://retipster.com/pinterest LinkedIn: https://retipster.com/linkedin TikTok: https://retipster.com/tiktok
- 0:00Intro: Who is Luke Smith?
- 2:15Luke Smith’s background and what made him get into the land business
- 7:30How does Luke’s land investing endeavors look like right now at a high level?
- 11:04Should you put your focus on the number of deals or the zeros at the end of the deal?
- 12:50Does the process of valuing lots and sending blind offers differs a lot between smaller and bigger properties?
- 14:30What particular use would make this property most valuable to somebody?
- 17:00The first steps of getting into the land investing game
- 18:25Has your acquisition method changed with the years?
- 19:02How do you determine the offer price for a vacant land?
- 20:02How do you determine when a market is flooded?
- 21:20How to define and analyze if you have found a good market for your business?
- 23:54Use your mistakes as learning opportunities to level up your game
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