We Bought a LAKE!

August 29, 2023

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In this week’s episode of the Turning Profit podcast, Heather and I discuss one of our strangest land flips we’ve ever done.

Yes, believe it or not, we bought a 23 acre lake, and then we flipped it!

We break down this deal in detail with all the twists and turns.

And as usual, we answer some questions from our land flipping community.

Ready to check it out?

Key Takeaways:

  • Introduction (00:00)
  • Let’s talk about Land Conquest (08:31)
  • Time to discuss the lake (15:36)
  • Flipping our lake (28:32)
  • Would we do this deal again? (31:10)
  • Let’s answer some questions (35:06)

Additional Resources:

Want to discover our FREE training program? Join us at: https://landconquest.com

Read our monthly income reports here.

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