Why I Pay Realtors 10% to Find Me Land Deals » 1459

Real Estate Investing Mastery Podcast

The host launches a live 'New Market Video Series' by targeting Marion County, Florida, focusing on vacant land listings that have sat on the market for over six months. He

Key takeaways

• Joe targets vacant land listings in Marion County, Florida that have been on the market for over six months and are priced under $100k.
• He uses Homes.com and Zillow to filter properties by acreage (minimum one acre) and price, then researches comps to assess fair market value.

Main topics

• Vacant land investing
• Realtor commission incentives

Notable quotes

I pay 10% commissions on deals that realtors bring me, off-market deals.

Conclusion

The episode provides a actionable blueprint for real estate investors to bypass direct

Transcript preview

Speaker 3 (0:00) Welcome. This is the Real Estate Investing Mastery Podcast. Speaker 3 (0:21) Hey, what's up, guys? Welcome to a brand new YouTube video series I'm doing called the New Market Video Series, where this is something that I haven't done in about, I don't know, three years, where we're going to go in and pick a brand new market, one that we've never done a single deal in, and we're starting from zero on camera live. We're going to be picking the market, building the list, sending real actual offers, calling sellers and realtors. No theory, just watch what we actually do. And it's going to be so exciting. Thanks for tuning in. Let's go into today's video. I want to start calling some realtors. Now we're in Marion County, Florida, right? One of the tools that I like to use is Redfin to find older vacant land listings. Actually, let's do homes.com first. Homes.com. Let's say you don't want to do five or 10 letters a day. You don't even have the money for that. So you want to get on the phone and hustle. You want to make phone calls. You want to call realtors of older vacant land listings. This is how we do that. And we're going Speaker 2 (1:14) to call some of them here. I'm going to call a couple, then Gavin's going to call a couple. Speaker 3 (1:17) We're going to go to land only. And then we're going to go to days on market more than six months. So this is land that's been on the market for more than six months. And I'm also going to set the price. I don't want real expensive ones. I'm going to say under 100 grand. Look at this. There are 735 vacant lots. Now, let's do only minimum one acre. How about that? Slim it down a little bit. All right. There's 61 lots. Under 100 grand. that have been on the market for over six months. Why haven't these properties sold yet? They're just overpriced. They are overpriced, that's why. So I'm gonna sort this by newest. So these are properties that just hit the six month mark. This looks like a good one right here. They just dropped their price. This one just increased their price. Maybe we'll call them later. But let's look at this one here. They just dropped their price, spacious vacant lot in the highly developed residential area with access to major roads. Boom, boom, boom. Let's call this realtor. Speaker 2 (2:10) Okay, Speaker 3 (2:10) now I'm going to look this property up real quick on Zillow so I can look at some comps while I'm talking to the agent. So I'm just going to copy that. Let's open it up on Zillow real quick. All right, so this property is in zip code 34431. 34431. Let's just look it up this way. 34431. All right, and the property is $40,000. So I'm going to reset all my filters here. Okay, and we're going to do minimum price. 40,000, maximum price, Speaker 2 (2:37) 40,000. Yep, Southwest Indian Hill. Okay, boom, let's open this up. All Speaker 3 (2:41) right, the reason why I wanted to open this one up is we're gonna zoom into this area. So this property is right here on Zillow. That's the property right there. You Speaker 2 (2:48) could send Speaker 3 (2:49) a message to the agent like this. Hi, I am an investor and I'm interested in your one acre lot in Rainbow Lakes Estate. Is the seller negotiable on their price? Thanks, Joe. Okay. Hi, Thalia. I'm an investor and I'm interested in your one acre lot in the Rainbow Lakes estate. Is the seller negotiable on their price? Thanks, Joe. And boom, send a message. Now we could also call her. So let's call her right now. Chances are real slim. We might have to go through five, 10 of these to get somebody to answer, but that's just kind of the way it works. Speaker 1 (3:17) Thanks for calling home.com. Press one to be connected with the agent. Thank you. This call may be recorded. At the tone, Speaker 2 (3:25) please record your message. When you've finished recording, simply hang up or press pound for further options. Speaker 3 (3:31) Yeah. Hi, my name is Joe and I'm looking at your vacant lot you have on the market on in Rainbow Lakes Estate, Florida. It's listed at 40 grand. I'm an investor. I'm interested in talking to you about