Income Report – May 2023

June 01, 2023

Welcome to the May 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 on an accelerating path 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 May 2023 statistics:

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.

This month we resold five properties. 

The average resale price per property was $90,612.98.

The average purchase price per property was $54,783.04.

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!

The average days in inventory also did really well this month at 62 days. We’ve been averaging 113 days so far in 2023 which has been disappointing. We try to sell our properties as quickly as possible, so keeping this number in the 60-75 day range is ideal.

We always aim to double our money on each of these deals. This doesn’t work out on average, but we can get pretty close. 

Based on the May averages, we could buy a property for $54,783 and sell it for $90,612 after commissions and closing costs in 62 days. That is a win every time!

Getting caught up in the revenue and other metrics is easy, but it’s more about the gross profit than the revenue or number of deals. I’d be happy selling one property per month if our gross profit was much higher!

Deal by Deal Breakdown:

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

These are all the deals that closed in May 2023. We purchased these properties in a previous month and then resold the property to a new buyer in May.

*** 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 notes: 

We made $37,162 in only 36 days with this land flip! Here’s the story.

We found this deal because we sent out one of our offer letters directly to the owner. This property was not on the market and was owned by the seller for many years. He responded and was willing to move forward at the price we offered.

This was a raw piece of land in a rural area that was fully wooded. The seller wasn’t using it for anything; it just sat there untouched. After some research, we decided to move forward with the deal and purchased it for $51,321.

This property didn’t need any improvements, so we immediately listed it with a local land broker for $99,900.  As soon as it hit the market, we had a lot of interest and ended up getting a full-price cash offer. We accepted the offer, then moved toward closing.

The closing process went smoothly, and we ultimately received a wire for $89,234.28 after all commissions and closing costs. That left us with a gross profit of $37,162.45.

The return on investment was 72.41%! The best part was that we only owned this property for 36 days. 

This was a textbook land flip in the price range we like, and I plan to do many more deals like this in the future!

Deal #2 notes:

We bought this 27-acre rural property directly from the owner because he received one of our offer letters. When the owner responded, they wanted a slightly higher price, and after looking at the numbers, we were able to increase our offer to put the deal together.

This property was interesting because it was broken up on both sides of the road. It was mostly farmland which is always easy to resell as long as you can list it at the right price. There were no real negatives to this property at all.

We wired a total of $58,112 to buy this piece of land. Since it was well-maintained farmland, we relisted it on the MLS with a local land broker for $99,900 as soon as we completed our purchase.

This property drew a lot of interest right away. We received multiple offers and ended up selling it for full price with a 60-day closing timeframe.

Everything went smoothly with the closing process. We received a total of $88,248 after all commissions and closing costs.

That equates to a gross profit of $29,385 in only 65 total days of our ownership. The return on investment was 50.57%!  

This is another classic example of what’s possible with land flipping. We made a sizeable profit in a short amount of time with no improvements to the property.

Deal #3 notes:

This was one of my favorite deals we’ve ever done!

We bought this 73-acre property made up of 2 separate parcels off-market, directly from the owners. This deal came to be because they received one of our offer letters. 

When the seller called us, they wanted more for the property than we initially offered. Since our offers are based on averages, once we saw that this property was better than average, we decided we could increase our price to put the deal together.

After all closing costs, we bought the property for $92,724. We paid cash for this property from our funds.

As soon as we closed the purchase, we listed the property with a local land broker for $199,900. We got a full-price offer with a 30-day closing. 

Everything went well with the transaction, and there were no issues. After 43 days of owning this property, we closed the sale and received a wire transfer for $179,058. This was what was left after the commissions and closing costs.

After the dust settled, we profited $85,584. This equates to a 92.30% return on investment. Not bad for such a short hold time.

This is the type of land flip that we strive for!

Deal #4 notes:

This deal was not a homerun by any means, but it’s the type of deal I would never pass on.

This 25-acre property was purchased off-market directly from the owner like we do with almost all our deals. The previous owner responded to one of our letters and was interested in selling. After some negotiation, we worked out a price that worked for both sides.

The property itself was fully wooded. It had an extended driveway access leading to the main part of the property. There was mature timber on the property, which added to its appeal.

We closed on this purchase with cash and paid $28,055 after closing costs.

Next, we listed the property with a local land broker for $59,900. The property stayed on the market for a while with some interest but no offers. We reduced the price slightly to $54,900 after a few weeks.

Soon a buyer stepped up who was also the neighbor. We negotiated the price to $50,000 and signed the contract to sell the property.

Side note: I love selling our land to neighbors mainly because neighbors rarely back out of the purchase. 

The closing process went well; we received $44,519 after commissions and closing costs. 

Our gross profit on this deal was $15,713, and we owned the property for 88 days.

The return on investment was 56.01%. This was an excellent land flip!

Deal #5 notes: 

This beautiful 20-acre property netted us a healthy return!

The property was fully wooded with mature trees in a recreational area near a large lake. The trees were beautiful, and the setting looked peaceful.

We bought this property off-market, as we always do. The deal came from our direct mail efforts when the owner responded to our letter.

We paid a total of $39,951 after including all closing costs. We had to negotiate a bit on this price because the seller wanted more than our original offer. Since it was such a nice property, increasing our price slightly to put the deal together made sense.

After the purchase, we listed the property immediately with a local land agent for $64,900. The agent started getting interest right away, but no offers were submitted. After a few weeks, we received an offer for $50,000. This was lower than we could accept, so we countered the offer. The buyer initially declined. After a couple of weeks, they came back and were willing to increase their offer. We settled on a price of $58,000 and signed the contract.

The closing went well, and we ended up netting $52,004 after paying for commissions and closing costs.

That left us with a profit of $11,303.15. Our return on investment was 28.29% after we owned the property for 83 days.

The profit on this deal was well below our average profit per deal, but it was still worth doing.

Year to Date 2023:  

2023 Year to Date (YTD) Statistics

2023 is shaping up to be a good year, and we are on track to beat the totals from 2022 by a wide margin.

So far this year, we’ve brought in $2,526,791 in revenue. That’s an average of $505,358.22 per month. At this same pace, we would top $6 million in revenue for 2023. I plan to surpass that number considerably, but I guess it’s a good start!

Our gross profit is $938,708. We will surpass $1 million in gross profit in the next couple of closings in June. At this rate, we’ll top $2 million in gross profit for the year.

We’ve sold 35 properties so far this year. That’s an average of 7 deals a month. I used to get hung up on this number, but I realized it’s easier to hit our goals by doing bigger deals instead of focusing on the number of deals.

The average profit per deal rose against this month. We’re now sitting at $26,820 in profit per deal. Last year we averaged just over $22,000 per deal.

Our average days in inventory for 2023 is now 103.22 days. This is far higher than in previous years. The market is slowing in some areas, which is causing properties to last on the market a little longer. In addition, our focus on bigger deals means longer hold times. A realistic expectation for this market going forward should be 90 days.

Overall, May was an excellent month, and I’m looking forward to building upon that in June to close out the first half of the year.

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 #1 as an example.

The return on investment was 72.41%, which is amazing in the world of investments. What makes this unique, though, is that we only held this property for 36 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 734.16%!!

Where are you going to find returns like that?

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

But if 10% a year is crushing it, what is 734.61% per year called?

How can you do the same thing as an investor and get these 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

If you want to learn how to flip land as a part-time investment strategy or a full-fledged business, you must learn all this.

I can help you with that for free! I’ve just launched a fantastic land flipping community full of supportive and super-smart people.

I’ve just completed a free training program that shows you every step of the process in detail. 

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 May 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 links to some of my past income reports:

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