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BiggerPockets Money Podcast

135: Building Wealth through Real Estate... without Tenants or Toilets! with Seth Williams

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 27 July 2020

⏱️ 79 minutes

🧾️ Download transcript

Summary

Seth Williams invests in real estate in a way you may have never heard of before. He buys and sells land. And no, he’s not a developer. He literally buys a piece of blank dirt, and then sells it—frequently within days of buying it—for fairly high margins. And he does this without taking out loans for the purchase. How? He’s paying hundreds of dollars for this land, as opposed to hundreds of thousands of dollars for a piece of land with a house on top of it. He turns around and sells it quickly, frequently realizing a 300% profit—or more! Even better? Deals are EVERYWHERE! Land is literally everywhere, and deals can be found very easily. (We discuss several ways to find absentee vacant landowners, many of whom just want to be rid of the property!) Seth shares what to look out for in a deal so you minimize your chances of getting burned and what makes a deal great. He shares different ways to find these deals and even gives guidance for doing your homework so you know exactly what you’re buying. If you’d like to get started in real estate but may not have the funds or simply don’t have the time or desire to run a flip, land may be your way in. In This Episode We Cover: Seth's money journey His first land deal The reason why people buy land How to get into your first deal buying land What you should know about title insurance Dealing with mistakes All about title searches Tax implications of buying land The best and worst type of land for those just starting out And SO much more! Links from the Show BiggerPockets Money Facebook Group Dave Ramsey's Envelope System The title search article/video Land Flipping Lifecycle How to Juggle Your Real Estate Business with a Full-Time Job Six Months After Quitting My Job, Here Are My Honest Thoughts Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the Bigger Pocket's Money Podcast, show number 135, where we interview Seth Williams from

0:05.8

R. E. tipster and hear how he is growing his wealth by investing in a slightly different form

0:11.3

of real estate.

0:12.3

Unlike houses, land is... a slightly different form of real estate.

0:12.8

Unlike houses, land is, I don't want to say zero competition anymore,

0:17.1

that's how it used to be, but it's very, very low competition.

0:20.7

Like when I make an offer to somebody, most of the time, there is no other offer on the table. It's not like they have 10 other people lined up behind me. We're willing to pay more. So it's, it works. It's a lot easier than most other types of real estate.

0:35.4

Hello. Hello. Hello. My name is Mindy Jensen. And with me as always is my grounded co-host Scott Trench.

0:41.9

These introductions are just landing every single time Mindy thing.

0:45.8

Great, great job. Scott and I are here to make financial independence less scary, less just

0:52.4

for somebody else and show you that by

0:54.8

following the proven steps you can put yourself on the road to early financial freedom and

0:59.2

get money out of the way so you can lead your best life. That's right, whether you want to retire early and travel the world, go on to make big-time investments

1:06.8

in assets like real estate, start your own business, or invest in an asset class like

1:11.2

land, raw land, will help you build a position capable of

1:14.6

launching yourself towards those dreams.

1:17.0

Scott, I'm super pumped to have stuff on the show today because we are going to talk about

1:27.6

a way to invest in real estate that doesn't involve tenants and toilets or flipping houses or anything like that.

1:35.7

It is the investment in raw land, just blank dirt.

1:41.2

And there's a lot of actual advantages to investing in land. Most notably, you're

1:46.9

not spending a lot of money on your investment. We both live in the Denver area and

1:51.0

here the median home price is what like $400,000? Seth is buying properties for a

...

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