Vacant Land Wholesaling 101 (How to CRUSH It!)

TL;DR

Learn the process of wholesaling vacant land, including finding comps, contacting cash buyers, and utilizing transactional funding.

Transcript

how to crush vacant land wholesaling what's up guys zakind here and in today's video me and rick and really break down exactly the secrets to wholesaling vacant land i talked to someone who just got a vacant deal under contract and they need help closing their vacant land deals so guys before we get to it before i give you the vacant land wholesali... Read More

Key Insights

• 🏝️ Wholesaling vacant land requires reverse engineering to determine land values based on what cash buyers are willing to pay.
• 🏝️ MLS and property appraiser sites can help in finding comparable sales and tax assessments for land.
• 🏝️ Transactional funding can be used to bridge the gap between buying and selling vacant land through double closing.
• 🍧 Having a website is not necessary for selling vacant land, and the focus should be on finding motivated buyers through direct communication and networking.
• 🤙 Calling cash buyers and realtors specializing in land is crucial for finding potential buyers and understanding market trends.
• 🔊 It is important to be proactive and make a high volume of phone calls to potential buyers to increase the chances of finding the best deal.
• 📣 Double closing involves two separate transactions and can be done with the help of transactional funding to cover the gap between the two closings.

Questions & Answers

Q: How do I determine the value of vacant land in a non-disclosure state like Texas?

In Texas, it is crucial to learn how to use the MLS to find comparable sales. Reverse engineering by finding cash buyers and determining how much they are paying for land in a specific area can also help.

Q: What is double closing and how does it work?

Double closing involves buying a property and then immediately selling it to another buyer. It is important to ensure that the second buyer is fully funded and ready to close before the first closing takes place. Transactional funding can be used to bridge the gap between the two closings.

Q: Is it necessary to have a website for selling vacant land?

Having a website is not essential for selling land. The focus should be on the land itself and finding potential buyers. Websites can be convenient for providing information, but they are not necessary for selling the property quickly.

Q: How can I find cash buyers for vacant land?

Prop Stream can be used to filter for cash buyers of vacant land. Cold calling these buyers and networking with realtors specializing in land can also help in finding potential buyers.

Summary & Key Takeaways

• The video features a conversation between Zak and Rick, discussing the process of wholesaling vacant land and sharing experiences.

• The importance of reverse engineering to determine land values and finding cash buyers is emphasized. Property appraiser sites and realtors specializing in land can also be helpful.

• Transactional funding and double closing are explained as options for financing a deal.