Income Report – June 2023

July 01, 2023

Welcome to the June 2023 Income Report. This report is where I document our statistics and progress with our land flipping and development business.

I’m a big fan of the land flipping model of real estate investing. As you’ll see, it can be very lucrative and also rewarding.

We resold our first property using this model in March of 2021, and we’ve been growing rapidly ever since. 

We’re passionate about real estate investing. Land flipping is one of the many business models you can pursue as a real estate investor. 

We dive deep into this model and many others in our real estate investing podcast called Turning Profit. You can find us on Youtube and other major podcast platforms.

Before we get into the report, I invite you to join our Land Conquest land flipping community.

This online community is not your typical “group.” It’s an actual community of people interested in land flipping. We’ve got brand new investors and experienced investors generating $1 Million plus per year. 

The community is built around a brand new and FREE training program that will show you exactly how to flip land the way we do it. This high-quality training program has hundreds of hours invested in it, presented in a unique and fun way.

To join, go to and click any of the orange buttons to start an epic journey that could change your life!


So why in the world would I publish a report like this for the whole world to see?

I’ve got three big reasons for doing this:

#1 – Motivate ourselves to improve our business (nothing like putting it out there to the public to drive progress). 

#2 – Motivate you! You’ll see what’s possible and learn valuable lessons (at my expense) which will allow you to become a better real estate investor yourself.

#3 – Gain exposure for our new Land Flipping Community.

We also like connecting with other investors or lenders with similar goals. You can find us on social media on Instagram, YouTube, Twitter, TikTok, or by email.

Before we get into the numbers, here’s a simplified explanation of how this business works

  • We send letters (actual offers) to landowners.
  • Some landowners respond and are interested in selling.
  • We come to an agreement on the price and work towards closing the deal.
  • In the meantime, we research the property in depth by sending out a photographer, calling the county/city, getting an opinion from a local broker, and many other little things on our checklist.
  • Assuming everything looks good, we complete the purchase with our own cash through a reputable attorney/title/escrow company.
  • After closing, we will sometimes make minor improvements to the property, such as brush clearing, perk test, surveying, or other things.
  • We list the property using a local broker to market it to the MLS, their buyer’s list, and neighboring landowners.
  • We negotiate a deal when a buyer steps forward.
  • We complete the sale at the negotiated time.
  • Rinse and repeat!

A couple of other notes:

  • We buy these properties all over the country and rarely see them in person
  • Purchase prices on the properties range from $4k to $476k 

That’s about it! It’s really just buying and selling land. 

The main thing that makes this business work is that we buy aggressively so we can resell it for an attractive price to buyers. That allows us to sell quickly. We can negotiate good purchase prices because we pay cash and will close quickly.

Now that you know the basics, let’s dig into the numbers.

Here are the June 2023 statistics:

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.

We sold a total of 13 properties in June, which is a new record as well. 10+ properties per month has been a goal of mine for a while, but it’s become less of a focus. I’m more concerned about gross profit and revenue than the number of properties we sell.

Our average gross profit per deal took a slight step back and came in at $21,357. Last month we averaged $35k+, so most any month will be a step back from that. This month’s gross profit per deal is in line with our historical average.

The average hold time for the properties we sold was 111.85 days. This is higher than I like it to be. As you’ll see, we had a couple of properties that we held way too long which really skewed this average for the worse.

The last major metric that I want to highlight is the letters sent. This month, we sent out 92,879 offers to landowners across the country. This definitely gets the phones ringing!

Deal by Deal Breakdown:

In this section, I break down each deal. The goal of this is to show you how deals vary in their profitability and what is possible in this business.

These are all the deals that closed in June 2023. We purchased the property (normally in a previous month), and then resold the property to a new buyer. 

*** Details of the properties have not been shared to protect the anonymity of the parties to these transactions.

Purchase Price = The amount we paid for a property, including closing costs

Revenue: This is the amount we received after paying commissions and closing costs

Gross Profit = Revenue – Purchase Price – Property Specific Expenses

Days in Inventory = # of days we owned the property

Return on Investment = Gross Profit /Purchase Price

Deal #1 and #2 notes: 

This deal was a very unique situation. I’ll explain…

We bought 2 side by side properties from unrelated parties and then sold them together as one property. Normally, we sell side-by-side properties separately because we are able to get a higher price for them individually. In this case, the lot sizes were odd, and the road frontage on the smaller property was minimal. It made sense to market these 2 properties as one, which is what we did.

It’s funny because these 2 landowners were unrelated, and they called in individually to sell us their properties. This had never happened before.  They each responded to our offer letters. We closed these deals separately and then put them on the market. One of the properties took longer to close the purchase due to some title paperwork needed from the seller, but as soon as we had both closed, we listed them with a local land broker.

We originally listed them for a combined $179,900. This turned out to be too high. We gradually reduced the price until we got down to $129,900. We went under contract, but the buyer stalled and stalled when it came time for closing. It was a cash deal, so we were guessing that they were waiting for funds to come in. After a couple of weeks, we got tired of waiting and decided to put it back on the market. After about a month, the original buyer came back and stated they were ready to close. We reluctantly agreed to give it a shot again, and it paid off. They were able to close it in about 7 days.

This wasn’t our best deal, but it was still profitable. We bought the land for $79,444 after all closing costs.

The resale contract price was $113,000. After commissions and closing costs, we received $100,990 as proceeds.

Our gross profit was $20,506 after a hold time of 222 days. This was a far longer hold time than we liked.

This meant our return on investment was 25.81%. Even though it was not a great deal for us, it was still a solid investment.

Deal #3 notes: 

I almost passed on this deal, and I’m glad I didn’t!

As part of our purchase process, we always send out a photographer to walk the property and take photos and videos from the ground and the air.

When our photographer went to check out this property, he was confronted by the neighbor who gave him a really hard time about the drone flying. He rode up on an ATV with a rifle strapped to the front and a revolver on his belt.

Apparently, he thought our photographer was getting drone photos of his property and was not happy about it. There was a heated discussion, apparently, and my photographer agreed to blur out the neighboring property in any images from the air.

After hearing about this, I almost didn’t purchase this property. I thought the neighbor would be a thorn in my side and harass any potential buyers, which can be a real problem when you are trying to sell land. For some reason, I decided to roll the dice and hoped that he was only upset about the drone flying and wouldn’t be an issue.

My gamble paid off, and things worked out ok. In fact, the neighbor referred a potential buyer to the property, but we didn’t work out a deal with him.

We did list the property on the market with a real estate broker for $99,900. We had a lot of interest and went under contract with a cash buyer for $93,000 after some back-and-forth negotiations.

We ended up holding this property for a total of only 50 days!

Here are the numbers:

Our purchase price was $51,518 with the closing costs.

We sold it for $83,218 after all commissions and closing costs.

The gross profit on this deal was $30,950.21.

This meant a return on investment of 60.08% in only 50 days!

Perfect situations are rare in this business. It’s great when things are pretty clear-cut, but sometimes you have to make a judgment call and just go for it. Luckily it worked out great for me on this deal.

Deal #4 notes: 

We “almost” doubled our money in 50 days on this land flip.

We found this off-market deal by sending out our standard direct mail offer letter. The seller called our call center and was interested in moving forward at the price we offered.

After we took a quick look, we realized that this was a pretty nice property, and the price was acceptable to us. The fully wooded 10.86-acre lot was accessible off a cleared easement just a short distance from the paved road.

This property had no obvious negatives, so we completed the purchase. 

We decided not to make any improvements to the property because it showed well as-is.

We immediately listed the property with a land broker for $79,900. After about 2 weeks, we got a full-price cash offer with a 30-day close.

The closing went very smoothly and closed without any problems.  Here are the results:

Purchase Price: $35,895 with all closing costs

Resale Price: $71,294 after commissions and closing costs

Gross Profit: $34,649

Hold time: 50 days

Return on investment: 96.53%

This was a great deal for us, and it worked out just as we had hoped!

Deal #5 & #6 notes: 

This was a somewhat unique land flipping deal that didn’t happen the way I thought it would. Let me explain.

These are 2 separate lots of 2.68 acres each that were right next to each other. Both lots were owned by the same person. 

We initially offered $20,000 for these 2 lots combined, and the seller decided to think about it. Nearly 6 months later, she came back and said she wanted to accept the deal. At this point, the market had softened a little, so we let her know that the best we could do was $15,000. She initially rejected this, but she decided to move forward at $15,000 after a few weeks.

The plan was to sell each of these lots individually. We put them on the market for $24,900 each.

The activity was not very brisk on these lots. There was nothing wrong with them, but there was not a lot of market activity in this area.

Eventually, a buyer stepped forward for one of the lots. After some negotiation, we agreed to a price of $22,000.

After we were under contract for a couple of weeks, the buyer wanted to know if we would sell the other lot for an additional $16,000. I thought about it and decided to go for it since it took so long to find the first buyer.

Here are how the numbers worked out on this deal:

We bought both properties for a total of $15,984, including closing costs.

We accepted offers of $22,000 for the first lot, and $16,000 for the 2nd lot from the same buyer.

After commissions and closing costs, we made a gross profit of $17,514.

This was a 109.57% Return on Investment. The only downside was that we held the property for 144 days.

Still, when I really think about it, we were able to more than double our money in less than 6 months on this land flip! I’ll take that deal every time!

Deal #7 notes:

This 46.55-acre property was a decent land flip for us that we held for just 60 days. Here’s the story.

We were contacted by the owner of this property, who had just inherited the land. He responded to our offer letter and let us know that he wanted to sell.

The only problem was that our price was too low. I looked at it closely and realized it was a nice property and could come up in my price to put a deal together.

This ultimately made our profit margin slimmer than I liked. I also knew this property would still make us money, and it was worth doing.

It was about ⅓ farmland, and the other ⅔ of it was wetlands and not very usable. The farmland itself is pretty desirable, and I knew we could sell it relatively quickly.

We ended up closing the property and spent a total of 71,608 with closing costs.

Next, we listed the property on the market with a local land broker for $119,900. After a few weeks, a buyer stepped up, and we negotiated a sale price of $104,900. We would have rather sold it for me, but this buyer was cash and was willing to close quickly.

Closing went like clockwork, and this deal closed.

We received a total of $93,780 after commissions and closing costs.

This left us with a gross profit of $21,421 after a hold time of 60 days.

The return on investment was 29.91%

We typically look for a higher return on investment. Since this deal closed in 60 days, it was definitely worth doing.

Deal #8 notes: 

This was a really crazy deal!  We more than doubled our money and got the property back in the handles of the family that owned it many years before.

We found this deal like we find almost all of our deals. We sent a letter to the landowner with an offer. The former owner called us and said he was ready to sell and willing to accept our offer.

We knew there were some complications with this property because it was located in a disbanded homeowner’s association. Due to this, we knew we had to pick it up cheap to give ourselves some room for negotiations and some legal fees that we would likely incur to have the title cleared up.

The property itself was really nice, and in the back corner, it had a very old family cemetery from the 1700s. Normally I stay away from these situations. Since it was in the back, I figured it would be ok.

The purchase itself went smoothly, and we closed without any problems.

We listed the property with a top-notch land broker for the property’s market price, which was $139,900.  

Soon after we listed it, a buyer stepped forward. But this wasn’t any buyer. He was interested because his family owned this property many years ago, and it was his family’s cemetery! 

I knew we had to work out something with this buyer to put a deal together. I wanted to make it happen. The only problem? He needed financing and didn’t have much of a down payment.

The solution proposed by my agent was to do a large closing credit to offset expenses for the buyer. In addition, we would cover the legal costs to take care of the defunct HOA.

With the large closing credit and the legal fees, our gross profit was reduced considerably. But, we still made a great return on this property.

We bought it for a total of $29,086 after closing costs.

We received a total of $66,194 after commissions, the large closing credit, legal costs, and closing costs.

This left us with a gross profit of $36,359.

That meant a return on investment of 125.01% after holding the property for 130 days.

I was happy to see that we were able to work out a deal that got the property back into the hands of the family that had owned the property long ago.

Deal #9 notes: 

I was on the fence about buying this property, but I’m glad I went for it!

This property is located on a fairly busy road with several challenges. It wasn’t perfect, but I decided it was a good enough deal to be a good land flip for us.

The property was 5.57 acres, fully wooded, and on a pretty busy road. We found this deal by sending a letter to this property owner. He called in, and we agreed to move forward.

We closed the purchase as soon as the title work and our investigation of the property was complete.

After closing, we listed this property with a local land broker for $59,900.

Our broker suggested that we officially apply for a driveway permit with the county since this was such a busy road. He explained that this would likely be a concern for many potential buyers.

So, we filled out the form, paid the fee, and had the driveway permit in hand a few weeks later!

As soon as we had this, we got in a strong offer. After a little negotiation, we settled on a price of $55,000.

Closing went well, and we received a total of $48,687 after commissions and closing costs.

The gross profit was $23,786, and we ended up owning the property for 88 days.

We almost doubled our money on this deal, but ended up at 98.57% gross profit, which is pretty good in my book!

Deal #10 notes: 

This land flip took us forever to sell. We’ll not forever, but over a year!

Our normal land flips are in the 60-90 day timeframe, but this property ended up well outside the norm.

To make matters worse, we only made a few thousand dollars of profit on this deal.

This 5.25-acre property was located in a VERY rural area with limited activity. Few properties sell here; when they do, they have to be priced aggressively or be super premium property. 

We bought this property for a really good price of $7,019.

After we purchased it, we listed it for $29,900 with a local land broker.

We actually got this property under contract a few different times. Each time it fell out of contract for a different reason. 

We gradually reduced the property until we landed at a list price of $14,900. Eventually, a new buyer stepped up and agreed to a cash price of $12,900.

This transaction actually went through this time, and we received a wire for $10,858.

This meant that our gross profit was $3,089.

This translates to a 44.01% return on investment after holding the property for 379 days.

On the surface, this doesn’t sound that bad. But, it was a lot of hassle for a minimal amount of profit. I’m more cautious now about buying properties in areas where there is very little market activity.

Deal #11 notes: 

$32,329 in profit from this land flip in 106 days of ownership.

This property was purchased as part of a package deal with 2 other properties from the same owner.

It was a large property that used to be fully wooded, but was recently “timbered.” This means the previous owner sold the trees to a timber company. When we bought the land, it was a blank canvas.

This is less desirable than a fully wooded lot. It limits the usability of the property.

We got a good deal on this package of properties. We found this deal by sending the seller an offer on his property directly in the mail.

The purchase price of this property was $32,787, including all closing costs. We typically pay all seller closing costs, so they walk away with the full amount of our offer. 

We listed the property with a local land broker for $79,900.

A buyer stepped forward after a couple of weeks, and we negotiated a deal at $73,500.

Closing happened quickly, and we ended up with proceeds of $65,867 after commissions and closing costs.

The gross profit was $32,329. 

Considering the purchase price was $32,787, we nearly doubled our money on this deal. The return on investment was officially 98.60%

Deal #12 notes:

A quick 56.63% return in just 42 days on this land flip.

This was a bread and butter deal that went exactly as planned.

We found this deal by contacting the owner directly with a direct mail offer. He called in and agreed to sell for the original price that we offered.

This property was unique because it was split into two sections by a private road running through the middle.

The location of the property was good, so I knew it would sell quickly.

We ended up paying a total of $49,465, including all closing costs.

After closing, the property was listed for $89,900 with a local land broker that we’ve worked with many times.

Within days of listing, we received multiple offers. We accepted a full-price cash offer with a relatively quick closing.

The resale transaction went well with no drama or issues.

We ended up with total revenue of $80,007 after all commissions and closing costs.

The gross profit was $28,011 after 42 days of total ownership.

That left us with a return on investment of 56.63%!

This was the exact type of deal that I LOVE to do. Short hold time, healthy profit, and a great return.

Deal #13 notes: 

Over $30,000 in profit in just 39 days on this land flip.

This was a very unique situation with this property.

We sent this seller an offer in the mail, and he called in to confirm that we were interested in buying. We looked at the property in detail and realized it was solid.

It was a 55-acre property with no trees. The shape was very odd because little pieces of the property were sold off over the years.

The problem was that this property was due to be sold at the county auction because there was a large amount of property taxes that were delinquent…over $15,000. This meant that this bill would have to be paid as part of the transaction, and it had to get done before the auction date.

We agreed on a price that worked for both sides and went to work as quickly as possible to get it done. The title company informed us that there were some issues with the legal description on record, so they required us to get a survey before we could close.

Due to the size, the complexity of the shape of the lot, and the short timeframe, it cost us over $11,000 for the survey. We found someone to get it done in time, and we closed the purchase just before the County auction.

We ended up purchasing the property for $43,591, not including the survey cost.

After we bought the property, we listed it with a local land broker for $99,900.

We immediately had a lot of interest since it was such a large property, and the price per acre was pretty aggressive.

We ended up striking a deal with a cash buyer at $97,000 within a few days.

The resale transaction went very well, and there were no surprises.

After commissions, closing costs, and the survey cost, the revenue was $74,857.

This equated to a $30,515 gross profit after a holding time of only 39 days.

The return on investment was 70%!

This was a complicated deal, but was a win-win situation for all parties involved in this transaction.

Year to Date 2023:  

2023 Year to Date (YTD) Statistics

2023 is shaping up to be a great year for us!

With half the year done, we’re sitting at $3,256,046 in revenue. That’s an average of $542,674.33 per month. 

If we were to multiply that out for all of 2023, that would be $6,512,092. We can still hit $10 million this year, so we have some work to do!

Our gross profit year to date is $1,216,353. This is an average of $202,725.50 per month.

Again, if we were to multiply this out for the full year, this would be $2,432,706. I’d love to be much higher than this at the end of the year.

We’ve sold a total of 48 properties in 2023, or an average of 8 deals per month. Getting this above 10 deals per month would be great, but not a big deal either way.

Our average days in inventory are sitting at 104.66 days. I really want to see this figure in under 90 days!

I love checking in on these numbers each month and then figuring out what we need to do to improve things and reach our goals.

Overall, June was a great month, and I’m looking forward to building on this and growing this company exponentially!

In business, it’s very important to track your progress in the good months AND the bad months. There is no way you are going to effectively grow a company without having a realistic view of how you’re doing with your important metrics.

The returns detailed above are very substantial. That is especially true when considering the hold time and annualizing the Return on Investment.

Let’s use Deal #9 as an example because it is a pretty typical deal.

The return on investment was 98.57%, which is what you could likely achieve in the stock market in 5-7 years. What makes this special, though, is that we only held this property for 88 days. When you do the math and annualize this return (if you were to keep this money invested for the whole year), the annualized return on investment would be 408.84%!! 

In real dollars, the original investment of $24,140.73 would turn into $98,697.31. This is not even considering any compounding.

Where are you going to find returns like that?

In the stock market, if you’re getting a steady 10% a year, you’re crushing it

But, if 10% a year is crushing it, what is 408% per year called?

How can you do the same thing as an investor and get these kinds of returns? 

The first thing you’ve got to do is start learning.

It’s not rocket science, but it’s also not as basic as it seems.

Here’s a short list of some of the basics you’ve got to learn to make this land flipping model work:

  • How the business model itself works
  • How to get the leads coming in
  • Where are the best regions to find deals?
  • How to evaluate properties. What makes a good property and what makes a property not desirable
  • What software and tools to use to give yourself an unfair advantage
  • How to talk with property owners that want to sell
  • How to navigate the escrow/title process in multiple different states to buy a property
  • How to find the best on-the-ground partners in each location
  • How to find a buyer for your property in a short amount of time for a good price
  • How to negotiate with sellers and buyers.
  • How to build a team so you’re not doing everything yourself
  • How to put a business system in place to automate processes and keep your business organized

I know what you may be thinking… This all sounds great, but I don’t have the cash to buy and sell these properties. 

Don’t worry, this is the easiest “problem” to solve.

I have a program called Partner with Pete ( If you find a deal, I’ll pay for it to complete the purchase.

In fact, my team and I will take it from there, complete all the research, find an agent to sell it for us, and lots of other necessary parts of the process.

When the property sells, we split the profits 50/50. Simple!

No credit check, qualifications, experience, or anything else is needed. You just bring the deal, and we’ll split the profits!

Get all the details here:

If you want to find deals and flip land as a part-time investment strategy or a full-fledged business, you must learn how to do it. I can help you with that for free! 

I’ve just released an extensive land flipping training program that I’m giving away from inside of my Land Conquest land flipping community.

This training would cost thousands elsewhere, but I’m giving it away for free.

Here’s what community members are saying about it:

To get access, all you need to do is join Land Conquest, our free land flipping community.

Join here—>>>

You can also find a bunch of free content on our Youtube channel and our podcast about land flipping and real estate investing.

Just as a disclaimer, investing money comes with risk. Research any investments heavily before putting any of your money at risk. Risking more than you can afford to lose is never a good idea.

You can also check out this page that features other podcasts and outlets where I’ve been interviewed and talk about land flipping. I’ve appeared on over 50 podcasts and am booked for many more in the coming months.

Want to benefit passively from my land flipping business? I’m looking for private money lenders that want to earn a great return (12%+) on their money secured by these deeply discounted properties we’re buying. If you have funds over $250,000 available, check out the program details on this page

We know that the figures in this report may seem unattainable at first glance, but this did not just “happen” overnight. Like any business, we made progress and improvements over time to get to our current income level.

It will only happen if you take the first steps to get started!

That wraps up the June 2023 Income Report. Sign up here to be notified the minute a new report is published.

P.S. In case you missed it, here are the links to my past income reports:

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