WIP 1098: Wholesaling Quicktip - How Much Money Do You Need to Buy a Piece of Land

Wholesaling Inc with Brent Daniels

Find distressed properties for pennies on the dollar and turn them for huge profits!

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4.9 • 1.4K Ratings

🗓️ 7 December 2022

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

One of the biggest questions surrounding land investing is...how much money do you need to actually purchase a piece of land.

If you don't know what to look for, you could pay a lot more than you should be paying. You'll have to account for fees, permits, the cost of purchasing the land you need, and the cost of making adjustments for it to have access to other utilities. The factors mentioned are the root cause as to why many investors try to avoid this investment opportunity because it can be a lot of work.

If you’re still second-guessing whether you should buy land (or not), then today's episode will give you supreme clarity on buying land...and why land is one of the best kept secrets in real estate investing . For more land investing techniques, check out the Land Sharks Program for your opportunity to work directly with Brent Bowers and become a land shark!

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Show notes:

(1:07) Beginning of today’s episode
(1:17) How much deposit do you need to buy land?
(1:33) Why deposits are needed in buying land
(2:25) What is a title company?
(3:10) The chain of title
(5:39) Why you must be sure to investigate the property and make sure that it’s able to transfer with your warranty deed
(5:50) Why you need to have some warranty from the seller
(6:17) Are you able to get title insurance on a quit claim deed?
(7:31) Why you must never make a large deposit on a land parcel if you’re not 100% sure about purchasing that property

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Resources:

Want to learn more? Check out the Land Sharks Program.
To speak with Brent or one of our other expert coaches call (281) 835-4201 or click here to schedule your free discovery call to learn about our mentorship programs

Go to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space.

Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.

It's 100% free to join. The opportunities in this community are endless, what are you waiting for?

Transcript

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0:00.0	You're listening to wholesaling in episode number one thousand ninety eight but really a good
0:05.3	faith deposit or an earnest money deposit or an escrow deposit is just to put some type of good
0:11.9	faith with the contract saying that look I'm very interested in buying this land I'm so serious
0:19.1	that I'm willing to take hard earned money and put it as an actual earnest money or good faith
0:24.7	deposit with a title company or with the seller to hold it which I don't actually recommend
0:30.0	ever giving it to the seller because it's better to go with the title company because they're
0:34.0	probably going to be the ones that are closing the transaction anyways this is game changing
0:39.5	information guaranteed to raise your real estate wholesaling business with actionable steps you
0:44.6	can take immediately to navigate the ins and outs of wholesaling and start making money today
0:50.9	join us as we put our guests in the hot seat and dive deep to dissect their strategies for success
0:56.4	to enable you to duplicate their results you're listening to wholesaling ink the only show dedicated
1:02.4	to making you a fortune in wholesaling all right so when people are going out looking to buy land
1:09.9	they're so worried about how much of the deposits that they need to make to buy that piece of land
1:14.2	I'm going to talk about how much deposit that you need to buy land all right so first I'm going
1:19.4	to talk about why deposits are needed when buying land and then I'm going to like do the reverse
1:25.0	opposite and show you why they're not that important they're not as important as we think they are
1:29.8	so why are deposits needed usually this is usually like something they call a good faith deposit or
1:36.0	an escrow deposit or an earnest money deposit we call them so many different things and I can
1:41.1	understand why people get confused about it because there's so many different names across the country
1:45.3	across the industry but really a good faith deposit or an earnest money deposit or an escrow deposit
1:52.0	is just to put some type of good faith with the contract saying that look I'm very interested
1:59.2	in buying this land I'm so serious that I'm willing to take hard earned money and put it as an
	...

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