In this week’s episode of the Turning Profit podcast, we’ll be sitting down with very very special guests.
They are… DRUMROLL PLEASE… our children, Maddie and Ashley!
As we’ve discussed in our origin story episode (and if you haven’t listened to that, well then, what are you waiting for?) we want to teach our children how they can make their own money through real estate.
It’s not enough for us to create generational wealth and leave it to our kids and their kids, we want our children to be able to rely on themselves, learn the ropes of real estate investing, and make something worthwhile on their own.
And that is exactly what they did.
We’re very proud to say that they’ve turned $8,000 into $80,000 in one year through land flipping.
How did they do it? And what lessons have they learned from that?
These are a few of the questions they’ll be answering in this week’s episode of the Turning Profit podcast.
Are you ready?
Let’s dive in!
How It All Started
A little over a year and a half ago, Maddie and Ashley came to us to ask about our real estate business. They were curious about it and wanted to know how it all worked. They wanted us to teach them how they could do it on their own.
We were so happy they expressed interest in land flipping. Pete and I were always talking about our wins and challenges, and it seems they were actually listening (every parent’s dream)!
So we thought, why not? We taught them everything we knew and decided to help them all the way. The girls pooled their money together ($4,000 each) and put it in their company’s account. And that’s how the adventure began.
Maddie and Ashley’s First Property
Back when the girls had just started their real estate journey, Pete and I were getting a lot of leads in our own land flipping business. There was this one particular property, a smaller dollar one, that we thought would be a great way for them to dip their toes in the land flipping pool.
This was a lead that we already had under contract, a two acre property in rural Georgia, and we asked Maddie and Ashley if they wanted to buy it then resell it like we do.
The girls were completely on board (and just as excited as we were). They already knew how to evaluate land after working for the family business for a few months, but this was their real first step into the world of real estate investing.
They purchased this property for $7,320.42 in May 2021 and they put it on the market. At that time, we weren’t working with a real estate agent in that area in Georgia, so the girls listed it on Facebook Marketplace and HomeCoin.
A buyer from Facebook Marketplace came forward, the girls negotiated a deal with them, and they sold the property for $19,900 on the 22nd of June.
All in all, Maddie and Ashley bought, marketed, and sold this property in under sixty days. Pretty impressive for beginners!
What Came After the First Win
After selling their first property, Maddie and Ashley took an eight month hiatus. School and life came in between them and their business, but once everything was a little bit calmer, they got right back on the land flipping horse.
Their second deal was a thirteen acre land in North Carolina. They purchased it for $12,871 and listed it with a local agent on the 21st of February. A day later, they got a call from their agent; someone was interested.
And just like that, they were under contract.
Maddie and Ashley received $25,570.03 for that land just three weeks after, on the 15th of March.
Suddenly, the girls’ $8,000 turned into $33,000.
Maddie and Ashley’s Third Deal
On March 29th, 2022, the girls purchased a two and a half acre property for $9,500. Just like their second property, they listed it with an agent. Again, they were under contract in less than a week. Two days later, to be exact.
How much did they make through this property? Well, Maddie and Ashley ended up almost tripling their money and got $26,278.51 for the land.
As you can see, making money through land flipping as a beginner is not very hard, as long as you’re willing to talk the talk and walk the walk.
If you want to learn more about Maddie and Ashley’s land flipping endeavors, the one property they refused to buy, how many other lands they’ve flipped until now, and what they’re planning for the future, make sure to listen to the episode above!