All Your Land Flipping Questions Answered! (Part 2)

March 07, 2023

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In this week’s episode of the Turning Profit podcast, Heather and I are continuing on with last week’s episode and answering all of your most burning land flipping questions.

Today, we will be tackling a bunch of interesting questions we’ve received from our amazing community, from how to make your lead process more efficient to whether or not you need to set up an LLC for your land flipping business to when you should clear a land and more.

If you’ve been wanting to know the answers to questions like these, then this episode is a hundred percent for you!

Well then, what are you waiting for?

Tune in now!


Key Takeaways:

  • Introduction (00:00)
  • Answering a question about capital gains tax (03:53)
  • How to work with a smaller budget (08:27)
  • What about an LLC? (11:36)
  • Here’s how we get leads (13:08)
  • Should you perform a perc test? (16:30)
  • About our monthly reports (20:16)
  • Answering Matt’s question (23:24)
  • About purchasing properties on terms (26:47)
  • One-page letters vs. two-page letters (29:31)
  • What about deal funding? (31:50)
  • Using IRA to purchase land: Yay or nay? (33:18)
  • Do you need a more advanced entity structure? (36:46)
  • The best counties for land flipping? (38:57)
  • Do you have to clear land before selling? (39:28)


Additional Resources:

Read our monthly income reports at here.

Want to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals here.

Join our free Land Flipping community here

Follow Heather on Instagram here.

Follow Pete on Instagram here.

Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.

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Latest Income Reports

Income Report – July 2023

Income Report - July 2023

July was the worst month we’ve had in a while. Of course, it directly followed the best month we’ve ever had (June $729,254).

We finished out the month of July with a total revenue of $183,448. This is the lowest revenue total we’ve had this year, and it kind of messes up my numbers. 🤣

The gross profit for the month was $69,212. This is a 37.72% gross margin. This is also not as high as I’d like to see it, but it’s something to strive for in the future.

Read More
Income Report – June 2023

Income Report – June 2023

June was a GREAT month for us!

In fact, it was our best month yet! We brought in revenue of $729,254 in land flips in June. This is the total of all the sales.

We just barely beat out our revenue of $728,000 in January, but I’ll take it!

I was also very happy with our gross profit, which totaled $277,644!

This equates to a 38.07% gross profit margin. 40%+ is where I’d like to be, but we were pretty close.

Read More
Income Report – May 2023

Income Report – May 2023

May was a pretty good month. We brought in a total of $453,064 for the month. This was a little below average but still a solid month.

Our gross profit for May was $179,149. This is our direct profit on the properties we sold in May. It does not include our other expenses in running our business.

That equates to an average gross profit per deal of $35,829.94.  This is a substantial improvement from our historical average and recent months. So far this year, we have been averaging over $23,000 per deal. I hope this trend continues!

Read More