How Jonathan Duong is Making $100,000 a Month Only Wholesaling Vacant Land

TL;DR

Jonathan shares his journey of how he started wholesaling vacant land and now makes over $100,000 per month, with tips on how others can do the same.

Transcript

how Jonathan is making over a hundred thousand dollars every single month only wholesaling vacant land what is up guys Zach in here and welcome to the back's richest podcast and we have a special treat here Jonathan is here to teach us exactly how he is making over a hundred thousand dollars a month hostling vacant land he has the checks he has the... Read More

Key Insights

• 🎮 Mindset shift and education played a crucial role in Jonathan's success, as reading books and watching educational videos inspired him to pursue real estate.
• 📫 Direct mail marketing, particularly targeting niche lists, helped Jonathan close his first deal in wholesaling vacant land.
• 👍 Building relationships with builders and realtors proved to be a valuable strategy in finding buyers and expanding his business.
• 🤝 Improving marketing strategies, such as SMS marketing and targeting higher-priced lots, contributed to Jonathan's increased deal volume and revenue.
• 😨 Overcoming fear, self-doubt, and lack of faith is a crucial step in achieving success in any entrepreneurial endeavor.
• 🆘 Seeking help and guidance from experienced individuals can provide valuable insights and support along the journey.
• 🤩 Constantly improving systems and staying consistent with marketing efforts are key factors in scaling a wholesaling business.

Questions & Answers

Q: How did Jonathan get started in wholesaling vacant land?

Jonathan got started after reading books and watching videos on real estate, and then he did research on different ways to make a living. He found wholesaling vacant land intriguing and started marketing and closing his first deal in 2020.

Q: What was Jonathan's first deal and how did he find it?

Jonathan's first deal was closed through direct mail marketing. He sent out a niche list to potential sellers, and a seller who owned multiple lots called him back. Jonathan got the lots under contract and found a buyer through a wholesaling company, making $1,000 profit on each lot.

Q: How did Jonathan scale his business and start making over $100,000 per month?

Jonathan focused on improving his marketing strategies, particularly SMS marketing, and targeting higher-priced lots. He also built relationships with builders and realtors to find opportunities for partnership. By scaling his marketing efforts and continuously improving his systems, Jonathan was able to increase his deal volume and revenue.

Q: What challenges did Jonathan face when starting out in wholesaling vacant land?

Jonathan initially struggled with fear, disbelief, and lack of faith in himself and the process. He advises others to take action and have faith in the results. Additionally, he emphasizes the importance of taking responsibility and seeking help when needed, as mentors and experienced individuals can provide valuable guidance.

Summary & Key Takeaways

• Jonathan got started in wholesaling vacant land after reading books like "Rich Dad Poor Dad" and "Think and Grow Rich" and watching YouTube videos on real estate.

• He started with direct mail marketing and closed his first deal, making $1,000 on each of the three lots he sold.

• Jonathan's business grew as he improved his systems and marketing strategies, closing 15 deals in 2022 and scaling up to 25 deals in 2023, with a goal of making $100,000 per month.