Gokce Capital – Gokce Land Investing Program

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Gokce Capital – Gokce Land Investing Program

“I told you it wouldn’t work,” I quipped to my partner, Abi, after our first land investing sale fell through.

The sale had been three months in the making, and I was frustrated.

But, first, let’s rewind.

It was October of 2018, and the weather was turning chilly.

Like many New Yorkers on this first cold day of the year, we were inside watching Netflix.

We had been too lazy to go on our regular weekend day trip up the Hudson River and were missing the scenery, so we began binge-watching a show about homes in spectacular settings.

The first home in the series was an underground structure built on a rolling, forested property purchased from Craigslist.

Sitting in our cramped city apartment, we couldn’t help but think, “Wouldn’t it be cool to build a house like that?”

Owning a retreat in a beautiful, secluded setting — that’s everyone’s dream on some level, no?

No wonder Airbnb makes millions each year!

Well, Abi is not known for backing down from a challenge, so he immediately started looking for our dream lot.

WHERE IS THE CHEAP LAND?

As you can imagine, we quickly found that all the land just outside of New York City was too expensive.

Even the properties 4 hours from NYC were pricey.

After a few months, we were considering giving up, but then we ran into a land investing course promising that we could find cheap land by mailing postcards to owners of tax-delinquent properties.

It made sense, so why not try it out?

“Perhaps,” we thought, “we could build our dream home and also create a new investing opportunity.”

So, we started reaching out to counties for tax delinquent lists as instructed.

Except that none of the counties would give us a list. Well, one did after we invoked the Freedom of Information Act, but it was in a PDF format, which was useless for our purposes.

So much for that…

THEN, THERE WAS DIRECT MAIL.

However, not to be deterred, we searched out another land investing course and found one that used county data from third-party aggregators to create postcards asking owners if they would like to sell.

(We use DataTree these days for our data. If you are interested, here is our referral link).

So, no more PDFs!

As promised, the first mailer was very easy to put together.

We quickly sent 1,000 postcards to a county in Hawaii. (It was winter after all.)

But only two people called us back….and asked for way too much.

Perhaps direct mail wasn’t a magic bullet either.

SO MANY STATES TO CHOOSE FROM…

Perhaps the problem was the state (Hawaii is expensive).

Other land investors were talking about mailing to desert states with blind offers of $100 an acre.

So, we tried it.

This time, instead of sending postcards, we would send blind offers.

And so we sent a 1,000-unit mailer to a county in Arizona…….

….but didn’t get a single response.

Worse than before.

The state and price seemed right, at least according to other investors, so maybe land investing was just harder than it looked.

At this point, it was becoming hard to justify the expense, so we took a break.

THERE’S GOT TO BE SOMETHING TO THIS LAND INVESTMENT THING.

Still, we kept up with the land investing community and continued listening to podcasts.

It seemed that so many others were having success, and we just couldn’t shake the feeling that there was something to this.

Perhaps it was still a problem with the state.

If everyone was mailing to desert counties, maybe the market was just saturated.

Thus, we decided to try a state that no one seemed to be investing in…Michigan.

You may know where this is going.

We sent a number of blind offers at $200 an acre and got a huge response…

…of hate.

No one accepted our offers, but we got a lot of very angry callers.

It seemed we had significantly underpriced the mailer.

That’s what happens when you pick a county with very little market data.

In retrospect, we should not have priced infill lots on a per-acre basis.

But we’ve since learned this and how to avoid a number of other key investing mistakes.

LET’S BUY VACANT LAND ALREADY!

At this point, we were so desperate to own a piece of land that we tried a Hail Mary.

We went on eBay and bid on a few parcels, hoping we could get a decent price.

Of course, we paid too much, but we did get a few properties, which we immediately listed back on eBay on terms (owner financing).

At that time, you could list the down payment as the price on eBay for a $1 no-reserve auction (you can’t anymore).

Using this strategy, we found a buyer for our first 5-acre property in New Mexico.

She bought on terms, and we closed the deal.

SELLER BEWARE!

We were happy with our first deal on eBay and decided to find more properties.

We got a few more, but then we found out our first buyer was trying to sell the land before finishing the loan.

Even worse, she wanted to sell parts of our 5-acre lot without doing it the right way!

We told her she had to wait until the loan was done, and she couldn’t sell just part of the land without subdividing it legally.

But she didn’t listen and didn’t finish paying the loan.

We were frustrated with our first try at owner financing, so we sold the other properties for cash.

We made a profit of about 30%.

It wasn’t perfect, but it showed us that investing in land could work.

AND WE WERE BACK TO LAND INVESTING.

With renewed faith, we went back to sending blind offers via direct mail.

We sent a 1,000-unit mailer to Pennsylvania — nothing but hate.

We set a 1,000-unit mailer to New York — nothing but hate.

But we weren’t giving up.

Maybe it was the mailer count. It was possible that we just had to send out more mail.

We sent a 5,000-unit mailer to a county in New Mexico.

This time we got more than 10 signed purchase agreements back.

Eventually, we realized that direct mail does work, but only if you take into account market data, complete proper county/zipcode/area research, craft a professionally written letter, and get the pricing just right.

That first successful mailer was a fluke.

We just happened to stumble upon the right letter at the right price at the right time for the area.

But over time, we have learned how to create a system to accurately price properties.

Rather than sending mail to the whole county, we now send mail to a specific zip code or area.

Fast forward a year and a half and we have successfully bought and sold over 400 properties throughout the United States (you can check our listing page here).

We were able to make owner financing work and now have a six-figure annual passive income stream, which allowed me to quit my full-time job as Director of Affordable Housing Programs in New York.

I used to help residents of New York find affordable housing, but now I help people all over the United States find affordable land!

As you can see, we faced a lot of hurdles along the way to achieving this dream.

And to be honest, it was only due to my partner’s stubbornness that we didn’t give up.

IS IT POSSIBLE TO AVOID THE PAIN?

I imagine our story sounds somewhat familiar.

I often hear very similar frustrations about starting out in the land investment business.

Unfortunately, just learning the technical aspects of sending out direct mail isn’t always enough.

It can be very frustrating to throw money at mailers only to get back nothing.

Nowadays, we leverage market data, Google Trends, and various randomizer strategies to make sure we never have a failed mailer again.

And we thought we would release a course covering all of the strategies we learned to help you become an expert at land investing.

Becoming a successful land investor shouldn’t be this hard.

INTRODUCING THE GLIP (GOKCE LAND INVESTING PROGRAM)

We set up a SMART (Specific, Measurable, Achievable, Realistic, and Timely) goal-driven investing course that gives you step-by-step instructions on how to become a pro at land investing while avoiding some of the costly mistakes we made.

SMART goals date back to the 1980s and are a proven way to increase productivity, focus, and motivation since they create clear and attainable objectives.

Given that SMART goals are successfully used in forums as diverse as banks and hospitals, we figured they would work well for investing and decided to structure our program around the concept.

Our course is broken down into modules, each of which contains a number of SMART-goal-driven video chapters designed to help you master the land investment business.

The chapters start out with the SMART goal you must complete and then cover the steps required to complete the goal.

The following is an overview of what you can expect in each of the overarching modules.

Together, these modules cover each step in the land investing business.

MODULE 1 – SETTING UP A LAND INVESTING BUSINESS

As eager as we were to get started with the land investing business, we didn’t skip the basics.

You need to look professional to prevent unnecessary pain and rejection.

Avoid the mistake of starting a land investment business without first setting up a business entity, website, phone, and mailing address.

In this course module, you will learn why we selected an LLC as well as the benefits it provides in the investing world.

You will also learn why a professional website is so important.

MODULE 2 – BUILDING YOUR INITIAL INVENTORY

We went through several failed mailers before we decided to purchase land from eBay.

In doing so, we found that the experience and confidence we gained by selling a few properties helped us tackle our direct mail campaign with renewed insight.

To help you avoid analysis paralysis and wasted money on mailers, we have set up this module to lead you through the process of buying three properties from LandWatch by making offers to other land investors.

You will then sell these properties in the next two course modules.

This way, you will feel like a pro at land investing before you even touch a mailer.

MODULE 3 – DUE DILIGENCE YOU NEED TO DO BEFORE BUYING RAW LAND

The biggest reason we had a hard time selling properties was that we did not collect enough information before setting a price.

If you think about it, the value of a property is directly tied to how usable it is.

You run the risk of overpricing (both on the buy and sell side) if you don’t understand the basic attributes of the lot.

In this course module, we take you through the various aspects that help or hinder various uses of vacant land such as building a home.

These items include the following:

– APN  

The very first thing you must do is look up the Assessor’s Parcel Number, which is the number the county uses to identify the property.

This number will be used to complete all other due diligence items.

We will show you how to find it!

– Ownership

Next, you need to make sure the person who is selling to you actually owns the property.

This course module will cover how to verify ownership of a property and what to do if there is a problem.

– Undivided Interest

Sometimes, two or more sellers will each own a certain percentage of ownership in a property (also called undivided interest or tenancy in common).

When ownership is structured this way, you may sometimes find that your seller is only selling their percentage interest in the lot, not full ownership.

Check for any mention of undivided interest in assessor records!

– Mineral Rights

You may also want to look into whether your seller owns mineral rights to the property.

If some rare instances, you may also need to look into quiet title.

– Ancillary Probate

If one of the original owners has passed away, it’s important to check whether the property has gone through Ancillary Probate in the county where the property is located.

This will typically be required if the deceased was the sole owner of the property or if the vesting deed did not transfer title to multiple owners as Joint Tenants with Rights of Survivorship.

Without Ancillary Probate, there is a risk that the title won’t have been fully transferred to the surviving owners or heirs, creating a cloud on the title.

– GPS Coordinates

Since most rural land parcels do not have an address, GPS coordinates are a crucial way to identify the piece of land you’re interested in purchasing.

We’ll give you the tools to find them.

You want to make sure your information is accurate so the below doesn’t happen to you!

– Wetlands

Did you know that it is very hard to build on a property if there are federally-designated wetlands on it?

We’ll show you how you can find where wetlands are located, so you can avoid them when you purchase land.

– Wetland Mitigation

If you have already purchased a property with wetlands on it, there are a few options.

You may be able to mitigate the impact on existing wetlands and continue with your project.

You can find out more about this option here.

– Flood Zones

Properties that are prone to flooding are generally located in Special Flood Hazard Areas, as designed by FEMA, and require the mandatory purchase of flood insurance (among other things) if a building is placed on the lot.

We’ll show you how to look up which flood zone a property is in so you can understand any regulations that may come with it.

– Terrain Issues

I think we all know that a stream or mountain will make it difficult to build on a lot, but there are sometimes additional regulations that come with even gentle slopes.

– Size

Another obvious, but easily missed, due diligence item is to confirm that you have the correct property size.

You would be surprised how often there are mistakes in county tax maps and assessor data!

You can read more on our blog if you are curious about how large an acre really is and whether it is large enough.

– Shape

You will want to take a look at the property’s shape and use your judgment on whether the parcel will be usable.

For example, a parcel of land that is 10 feet wide and 200 feet long will likely not be buildable.

– Legal Access

This is a big one, but most people are not familiar with the concept of legal access.

Just because a road appears on Google Maps does not mean that you technically have the right to use it.

It is very important that you confirm a property is not landlocked before you purchase it, or you may overpay.

We will take you through what constitutes legal access and how to determine whether a lot has it.

– Easements

Be sure to check through the public records to make sure no easements have been recorded against the property.

Whether the purpose of the easement is for access or to build power lines, you can bet that an existing easement will place some constraints on the property!

– Physical Access

This one is easy, but you also want to check whether there is a physical way to get to the property.

Even if there is a road, it doesn’t mean it will be accessible year-round.

In other scenarios, a property may have legal access but not physical access, and you should know what to do in those cases.

– Back Taxes

Another obvious one but you will want to make sure that property taxes are up to date.

If they are not, you will want to incorporate this into your pricing.

– Reassessment

Keep in mind that many counties will reassess a property when it is sold.

During a reassessment, the property taxes can go up or down.

You may want to know if the assessed value will change dramatically when you purchase land.

– Land Use

Land use is the “character” that the city wants to maintain in a particular area. This is usually accomplished through density restrictions and land use designations or classifications.

These are usually spelled out in the city or jurisdiction’s general plan.

It’s a good idea to give the general plan a read to understand these standards, especially if you are looking to develop your parcel.

– Zoning

Almost every jurisdiction in the US has an ordinance governing land use.

This is where various types of land use categories are codified and knowing the type of real estate you purchase is important.

In this course module, we will go over how to look up a property’s zoning designation and figure out what you are legally allowed to do with the property.

Certain key items you need to know are:

Setbacks: Setbacks impose a minimum distance that must be maintained from a building to each lot line.

Road Frontage Requirements: Some counties require that all parcels have a certain linear footage of public road access to build on the lot.

There are also unique zoning issues that come up from time to time. Below is one example:

– Mobile Homes

Many buyers of vacant land will be looking to put a mobile home on the lot they purchase.

Unfortunately, many jurisdictions place restrictions on where mobile homes can be located.

You will want to know if mobile homes can be placed on the lot you are selling because your sellers will ask.

– RV Restrictions

Again, many buyers will be looking to place an RV on a property that they purchase, and you will want to know if this is allowed as well.

– Environmental Issues

Endangered species, contaminated soil, environmentally sensitive areas — there are sometimes unique environmental issues that pop up.

This course module will cover how you can look up whether there are special environmental conditions on a lot based on previous uses.

– Phase I Environmental Site Assessment

To protect yourself against any potential environmental contamination, order a “Phase I Environmental Report,” so you can know the property’s history before you purchase.

This report will review the lot’s previous uses to determine whether there are any potential environmental concerns.

– Phase II Environmental Site Assessment

If the Phase I report indicates the potential for environmental contamination, the Phase II Environmental Site Assessment will involve sampling the soil and groundwater to determine contamination levels.

– Phase III Environmental Site Assessment

Finally, if the Phase II sampling confirms contamination, then the Phase III report will come up with a plan for remediation.

This will help you determine the cost of the required work so you can assess whether you want to move forward.

– Soil Characteristics

For farmland or fishing ponds, it is important to know the characteristics of the soil and whether it will be productive.

For more information, you can read our post on Farms vs. Ranches vs. Homesteads.

Soil is also important if someone wants to build on a property.

This is because the soil type will determine the kind of foundation you need to build.

Soil needs to be strong enough to support the structure and also be able to withstand rain and runoff without eroding.

If you know that the land is going to be used to build on, you may want to consider getting a soil report done.

One option is to get a basic report from MapRight to start your investigation.

– Geotechnical Study

Prior to building on a property, a geotechnical engineer will need to take samples of the soil to determine the bearing capacity and the kind of foundation required.

This can be done before or after purchase, but the cost of the foundation will vary wildly based on the soil type.

Thus, you may want to have a geotechnical study commissioned before purchase.

– Utilities

Many rural vacant land parcels do not have access to public utilities and you will want to check on this before purchasing.

Your buyers will ask since bringing utilities to vacant land can be expensive.

– Perc Test

If a property does not have access to a public sewer system, your buyer will typically need to install a septic system should they want to build.

To get a septic permit in most counties, they will need to have a perc test done.

In this course module, we will go over what this means.

– Well

If a property does not have access to public water, your buyer will typically need to install a well should they want to build.

Keep in mind that, in certain western states, they may need to purchase water rights in order to drill a new well.

Note: MapRight lets you see information on surrounding wells in certain counties.

If you are interested in a Mapright subscription, you can use our referral link.

– Electricity

If a property does not have access to electricity, an alternative system will be needed.

Your buyers will want to know this!

– Call 811

If you are planning to build on the property and need to excavate, or if you want to know where the closest utilities are, call 811 and have them mark the locations of any public utilities on your lot.

– Feasibility Study

Again, value is directly connected to usability.

To accurately adjust your pricing, you will want to know whether you believe a property is buildable or not.

To determine this, real estate developers use a feasibility study.

While not always necessary, it’s good to know what a feasibility study involves in case you need it!

– HOAs

Sometimes you will find that even vacant land is on an HOA.

HOAs will typically come with additional regulations and fees, and you will want to know what these are ahead of time.

– Comps

Before you purchase land, you always want to double-check the comps and make sure your pricing is correct.

We will cover how to check comps and avoid overpricing.

– Surroundings

Take a look at the surrounding area to see if there are any features that may either add or detract from the parcel value.

– Existing Junk

In this same vein, check to see if it looks like there is a lot of existing junk on the property.

– Erionite

In many western states, erionite is a naturally occurring asbestos-like material.

While searching for land, look at the CDC’s helpful map to see if erionite may be present in the area.

– Superfund Status

While it is rare to find a property for sale that is an active superfund site, it doesn’t hurt to check the EPA database.

There is also a map view you can view as well.

– School District

We like to check the school district ratings for the zip code the property is located in.

For buyers with families, this can be especially important!

– Fire Department Registry

Buyers are often looking to build or live on the property, so check out the FEMA Fire Department Registry.

You will want to make sure that your property is within a fire department’s district.

– Recorded Deeds

If you are not closing through a title company, look at public records for all the documents associated with your rural vacant land.

– Survey

If you are buying a higher-value parcel of land, you will also want to get a survey done before closing.

For more, you can also check out our blog post on tracts, lots, and plats.

– Demolition Lien

If you see evidence of an existing structure on the lot during your due diligence, ask the owner about its condition.

Many jurisdictions have the authority to demolish unsafe structures and place a lien on the property if the owner is not willing to clear the condition themselves.

You may even want to hire a photographer to go out and take photos for you.

If the structure looks like it’s an eyesore or unsafe, give the county a call to see if it is on their radar.

You do not want to buy a property and find yourself stuck with a $10,000 demolition lien!

– Voluntary and Involuntary Liens

Properties, especially higher-value ones, can sometimes have liens placed on them to cover certain debts or unpaid items.

A service like Datatree will give you a property report that details any existing liens.

– Disclosure Statement

Ask the seller for a disclosure statement before you purchase.

You can find state-specific disclosures on FreeForms.com to send to the seller for completion.

But what is the point of all this?

Well, the best way to avoid wasting money on mailers is to step into your first direct mail campaign armed with all of the knowledge you need to gauge the value of a parcel of land!

It’s what separates a pro at land investing from the others when it comes to land investment.

MODULE 4 – MARKETING THE PROPERTIES IN YOUR INITIAL INVENTORY

Approaching a mailing with confidence was one of the key ways we were able to turn our direct mail strategy around.

We would never have made tough decisions — like pricing a mailer above our competition — if we weren’t confident in our ability to sell first.

We want to help you approach your first mailer with the same confidence.

So, in this course module, we will cover how to close on the initial properties in your inventory.

We will also go over various land marketing tactics to ensure that you can sell your first couple of properties.

That way, you can steer clear of mailing mistakes made from fear.

MODULE 5 – SENDING DIRECT MAIL

Analysis paralysis often sets in at this stage.

Or you do what we did, rush a mailer and get zero results.

As we found through our first few failed mailings, the trickiest parts of a direct mail campaign are (1) picking a county and (2) pricing.

To avoid costly mistakes, we needed an investing system that we could trust to help select a county and price a mailer.

We want to share our system with you, so you feel in control when sending out your first mailer.

In this course module, we cover our county selection system, including:

– Using Google Trends to select a state.

– Differentiating between high and low investor activity counties.

– Mailing to low investor activity counties using a probe slice and a randomizer.

MODULE 6 – HANDLING DIRECT MAIL RESPONSES

Once we completed our first successful direct mail campaign, we found ourselves with a new problem: how to close on a property quickly!

Fortunately, this is one of the easier problems to solve in the land investment world.

In this course module, we will guide you through how to save money by closing in-house.

You will soon be able to close quickly on multiple properties at once!

Of course, as a pro at land investing, you are also going to need to answer tricky questions like this one:

And we will show you how to do this as well.

MODULE 7 – PRICING PROPERTIES TO SELL

We didn’t just make mistakes in pricing our mailing, we also made mistakes in pricing on the sell side (below is an example of one of them).

There is a direct correlation between how long a property will be on the market and whether you price it properly.

Pricing on the sale side can, in part, be avoided by proper due diligence.

However, you also need a strategy for how to sell, both for cash and with owner financing.

In this course module, we shepherd you through our learnings on how to properly set cash pricing and provide value through affordable owner-financing terms.

People buy vacant land if you give them a good deal, and as a pro at land investing, you will master how to do this.

MODULE 8 – SELLING WITH OWNER-FINANCING

If you recall, our first owner-financing deal was a bust.

It can be tricky figuring out how to properly manage owner-financing.

Even worse, if your terms aren’t affordable, you won’t get the full benefit of a quick sale.

Yet, offering great owner-financing terms is one of the best ways to ensure you can sell your properties fast

In this course module, we lead you through the ins and outs of owner financing and help you move your properties quickly.

MODULE 9 – MANAGING YOUR LAND INVESTING BUSINESS WITH JIRA

I left out a few of the challenges we faced between our first successful mailer, and now, all but one of them was managing a high volume of transactions.

There was a time when we were overwhelmed and felt like our investing processes were out of control.

It’s not ideal when a business that is supposed to give you a sense of freedom becomes a source of stress.

Fortunately, my partner had been using Jira at work for over a decade. He just hadn’t taken the time to apply it to our land investment business.

So, we built up a Jira project management system to help us organize our investing processes and eventually delegate tasks.

The reason we selected Jira is that it is a proven project management software that is used by most major technology companies to handle thousands of projects and support issues.

The software allows you to create multiple projects that correspond to each phase of the land investing cycle (acquisition, sales, portfolio management, etc.).

In each project, you then add an issue for every property.

The issues have multiple fields that allow you to keep track of all your important investing due diligence items, project costs, and status updates.

As you can see, we even made a Jira project for GLIP!

We want to make sure you start out with such a tool in place, so you can avoid the frazzled phase we went through.

To help, we created this course module to guide you through how to set up a powerful Jira interface for your land investment business.

MODULE 10 – ACCOUNTING FOR LAND INVESTING

Thankfully, we did not run into any significant problems filing our taxes or keeping our books.

In this area, we did things right and set up a proper accounting system before selling a single property.

No one wants to have issues with the IRS, and luckily, it is easy to get your books organized.

In our last course module, we pilot you through the basics of accounting for land investing and get you up to speed on Quickbooks Online.

This way, you don’t have to worry come next April!

ADDITIONAL CONCEPTS

There are a number of sub-niches in land investing that people may choose to specialize in as they develop their careers.

This section of the course is where we add the content that we develop as we discover more about these various land investing sub-niches.

Some examples include:

• how to value timberland
• how to buy hunting land
• conservation easements
• land trusts

PROTECTING YOURSELF FROM FRAUD

Here we provide articles that will help you avoid scammers.

As a land investor, you may find yourself confronted by scammers, and in this section, we add content about various tools and tricks to avoid fraud.

LAND DEVELOPMENT

In this section, we discuss various elements related to land development.

Some land investors eventually want to become developers themselves.

Others find that developers are a great buyer set for their parcels.

However, even if you have no interest in development, it doesn’t hurt to understand the basics!

AND MORE!

On top of the course modules outlined above, we also have bonus content, including additional videos and template documents, to help you dive deeper into various investing topics.

We will be adding more content as we continue to discover other easily solvable pain points felt by those new to land investing.

At the very beginning of our journey, I told Abi that land investing wouldn’t work.

And then proved myself wrong.

Now Abi and I are here to help you complete your own journey, but without all the pain.

After all, land investing shouldn’t be so hard!

If you are on the fence, here are some pros and cons of land investing:

PRO 1: AFFORDABLE

The acquisition cost per property is very low, which makes raw land more accessible than other forms of real estate.

Land investing also requires far less start-up capital compared to many other business enterprises.

PRO 2: HIGH RETURNS

When purchased at the right price, land can be a good investment as the return can be very high (2-10x) compared to other forms of real estate or the stock market.

PRO 3: LOW RISK

It is easy to contain your risk on each individual property by only buying lower-value parcels (under $10,000).

Even in a worst-case scenario, your potential loss on any individual property is less than $10,000 (and this is only if you absolutely cannot sell it).

PRO 4: MOTIVATED SELLERS

Sellers of raw land are more likely to be highly motivated to sell.

This is because they are often not using the property (that’s why it’s still raw land).

For some owners, the land may even have become a burden as they find themselves paying taxes on something they are not using.

Since commissions can be low on vacant land, real estate agents are less likely to work with vacant land, and even if they do they may not have expertise in it.

This means that landowners can have difficulty selling using traditional methods.

PRO 5: LESS COMPETITION

There is less competition in the land investment space compared to other forms of real estate.

Most real estate investors are looking for residential property or commercial property and have little interest in vacant land.

This leaves the field wide open for new land investors.

PRO 6: NO NEED TO LEAVE THE HOUSE

The entire land investment process can be done online.

You don’t even need to visit the property; although, this is assuming you learn how to do proper due diligence.

PRO 7: FEWER PROBLEMS

Raw land transactions typically encounter few issues since they are very simple.

And if you should come across a problem, it will be easier to solve than with higher-value real estate.

A general rule of thumb is the smaller the deal, the smaller the problems.

PRO 8: NO MAINTENANCE 

There are no maintenance requirements with raw land.

With no tenants, maintenance, or repairs, land is pretty much a hands-off investment.

PRO 9: LOW CARRYING COSTS

Annual property taxes on raw land are usually low.

There are also typically no other annual carrying costs.

This makes land very inexpensive to own.

PRO 10: YOU HAVE CONTROL

Since raw land is very affordable, you don’t need to take on funding partners if you don’t want to.

This gives you total control over all decisions made on your investment.

PRO 11: CASH FLOW

With owner financing, you can use land investing to create a passive income stream.

With a large enough portfolio of loans, you can even replicate the income stream from a rental property without the headaches and expenses.

PRO 12: FLEXIBILITY

A nice thing about land investing is that you don’t have to do anything with the property.

However, you also have the option of improving the lots you purchase in any number of ways.

Some options include infrastructure improvements (driveway, well, etc.), placing a mobile home on the lot, building a storage facility, or building a single-family home.

There are many creative ways to make money from raw land.

PRO 13: REAL ASSET

Land is a real asset, so it is highly unlikely that it will ever completely lose its value.

After all, they aren’t making more land!

This means that, even if you find you cannot sell a parcel, you will still have an asset with intrinsic value in your portfolio.

PRO 14: OPTIONS, OPTIONS, OPTIONS

You don’t have to invest in land to build a residential home; although, that’s what comes to mind for most people.

Residential land development is just one type.

Many people buy properties for commercial land development or to use as farmland.

Consider all of the ways that you could use the new land you’re investing in:

• Row crop land
• Livestock-raising land
• Timberland
• Vegetable farmland
• Vineyards
• Mineral production land
• Orchards
• Recreational land

CON 1: NOT PASSIVE

Land investing is not a passive investment strategy. It requires a fair amount of work to set up as a proper business.

However, as your business matures, you can delegate some of this work to virtual assistants.

CON 2: MARKETING

Land is generally harder to market than other kinds of real estate.

There is a reason there are a lot of motivated sellers out there!

But with the right marketing strategies (which you will learn in our course), you can overcome this challenge.

CON 3: ABSOLUTE PROFIT

The total absolute profit you make on each property is typically lower than with other forms of real estate.

This is especially true if you are keeping your risk low by investing in lower-value properties.

But this can be overcome by increasing deal volume.

CON 4: LEVERAGE

It is harder to use leverage since banks rarely lend to raw land deals.

This means you will be more dependent on your own capital.

However, an alternative many land investors use is to take on funding partners (although, we do not do this ourselves).

CON 5: NOT LONG TERM

The passive cash flow from owner-financing is medium-term.

You will need to keep adding additional notes to your portfolio to replace loans as they are paid off.

CON 6: FEW TAX ADVANTAGES

There are fewer tax advantages to raw land compared with other forms of real estate.

Some examples of tax advantages that do not apply to land include depreciation and mortgage interest deductions.

But you still have access to the myriad tax benefits available to small businesses.

CON 7: LOWER APPRECIATION

Land is less likely to appreciate compared to other forms of real estate.

This is why we focus on selling quickly for a high return.

This is not to say that buying raw land for a long-term hold is always a bad strategy.

Many people want an affordable real asset in their portfolio that can be handed down as a legacy regardless of appreciation.

Commonly Asked Questions:

1. Business Model Innovation: Acknowledge the reality of a legitimate enterprise! Our approach involves the coordination of a collective purchase, in which the costs are shared among the participants. We utilize this cash to acquire renowned courses from sale pages and make them accessible to individuals with restricted financial resources. Our clients appreciate the affordability and accessibility we provide, despite the authors’ concerns.
2. Gokce Land Investing Program Course

• There are no scheduled coaching calls or sessions with the author.
• Access to the author’s private Facebook group or web portal is not permitted.
• No access to the author’s private membership forum.
• There is no direct email support available from the author or their team.