How to Build the Best Real Estate Investing Business from Scratch in 2023

February 21, 2023

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In this week’s episode of the Turning Profit podcast, Heather and I share with you how you can build the best real estate investing business from scratch in 2023.

You see, building a real estate business isn’t easy, no matter how simple we make it look.

It took us a lot of work and time to get where we are today. And we decided to share our knowledge with you guys, because even though we went into real estate investing nearly blind, you don’t have to.

So, if you’d like to learn everything you need to know to build a super successful real estate investing business in 2023, then congrats, you’re in the right place!

Are you ready?

Let’s dive in!

 

Key Takeaways:

  • Introduction (00:00)
  • What we’re talking about today (00:52)
  • The best real estate business model in 2023 (03:55)
  • How our daughters made money from land flipping (11:41)
  • How to build your land flipping business in 2023 (16:11)
  • What to do if you want to set up an entity (27:57)
  • Time to build your list! (39:57)
  • Why you should always get title insurance! (47:54)
  • How to be a real real estate professional (59:25)

 

Additional Resources:

Read our monthly income reports at: https://turningprofit.com

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

Want to connect directly with me and like-minded land flippers? Join our free Land Flipping community here

Follow Heather on Instagram here.

Follow Pete on Instagram here.

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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
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