One question we get asked a lot is how to decide what to pay for a property.
Setting the right purchase price minimizes risk and maximizes profits.
The key is to strike a balance based on consistent criteria.
In this episode, Heather and I break down our tried-and-true buying formula to ensure profitability.
If you want to take your land investing to the next level, you won’t want to miss this.
Key Takeaways:
- Introduction to the topic (00:00)
- Our simplified pricing formula (02:13
- Importance of guidelines to avoid emotional decisions (03:07)
- Paying 50% of the anticipated resale price (04:11)
- Adjusting for market conditions and property quality (07:04)
- Emphasis on downside protection (09:03)
- Case study of a difficult property sale (14:30)
- $20,000 minimum projected profit rule (21:22)
- Details about the Land Conquest community and resources (24:28)
Additional Resources:
✨ Get all of our recommended tools and services at https://resources.landconquest.com
✨ Follow Pete on Instagram here: https://www.instagram.com/partnerwithpete
✨ Follow Heather on Instagram here: https://www.instagram.com/itsalovelylife
—
Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.
Follow us on your favorite platform so you never miss an episode!
