How I Comp a Land Deal Step by Step (Live Walkthrough)

Most wholesalers out there are comping deals wrong, leaving $10,000 to $20,000 on the table per deal. But what if I told you there's a simple 10-step process that takes about 15 minutes and tells you exactly what a land parcel is worth and whether it's actually worth pursuing? My name is Anthony Weiler, and I've coached over 300 students who've helped close over 7 figures in land deals using this exact process. Now, today I'm going to show you my live comping workflow. There's no fluff, just me opening up my tools and walking you through exactly how I evaluate a property from lead to decision. This is the behind-the-scenes process that separates $2,000 deals from $40,000 deals. Now, before we dive in, if you want to learn this system and start identifying high-ticket land deals yourself, book a call with my team below. We'll show you exactly how this works for your market and whether you're ready to make the transition. Now, last thing before we start, I want to be clear that you should not choose the exact county that I'm showing you. And the reason is that everyone else who finds this video will try to use the exact same county and it won't make sense anymore. So you should try finding your own markets. Now let's get into the demo. So what I have pulled up on my screen is this tool called Acrematic, and I cannot recommend it enough because not only is it a CRM when a new lead comes in, tracking the overall lifecycle of that lead from when a contract is accepted and then all the way to disposition and selling the property tracks the entire lifecycle of that. So not only does it act as a very robust CRM with all these tons of automations and capabilities. It also is a mapping tool to where we're able to pull up those leads, take a look at the layout of the land, do our initial due diligence, comp it out, and also be able to pull property records and skip trace it. So it is essentially a one-stop shop. And guys, nobody else currently does this. So I cannot recommend Achromatic enough. But enough of all that. What we're going to take a look at is one of the new leads that I have here in my system. This is a demo account. And to be completely transparent, this is a lead that was probably like 3 years ago. I was going through my old CRM. Just randomly picked one here. So what we're going to do is we're going to go ahead and click open the contact here. I'm going to go ahead and take a look at the details that we have. We're going to scroll down to the bottom. So we're in Suwannee County, Florida, and we have the parcel number. It looks like 5 acres, and the seller is open to selling for the right price. So what I'm going to do now is I'm going to go ahead and open up the Achromatic Map. And like I just mentioned, not only is it a CRM, we have the mapping tool to where we're able to view the property, and we could also pull property records. So let's go ahead and pull up this parcel. We are in Florida and we are in Suwannee. I believe that's how it's pronounced. Okay, let's go ahead and take a look. Go ahead and open up the property card. Now there's some things that I want to take a look at immediately before I make any decision before moving forward. So I want to make sure that there's actual physical and legal access. So as you can see here, there is public road frontage, so I'm not worried about that. Clear legal access as well too, since this is a public road, so I'm not worried about that. What I want to also turn on are the property boundary outlines. I want to see if they also own any other properties, which that doesn't seem to be the case. I really want to make sure that there are no wetlands on the property, and if there are wetlands on the property, is that going to be where the building spot is? Because when it comes to wetlands, think of that as natural standing water, and if it's where you're going to want to build, it's going to be very hard to be able to pass a perk test. I also want to take a look at flood zones as well, because if it's inside of a flood zone, then you're going to need flood insurance most likely, and can also increase buildability issues as well. Now lastly, I'm going to be taking a look at contour lines to see what the overall elevation profile looks like. And when it comes to contour lines, I mean, we're in the state of Florida. Florida is not really known for like robust topography like West Virginia or parts of North Carolina or Tennessee. But what you wanna look for when it comes to contour lines, you see these lines right here. You just want to make sure, let me turn off these filters real quick. You just wanna make sure that you do not see a bunch of lines stacked up against one another that have anywhere from 10 to 40 feet of elevation or 10 or more feet of an elevation profile. Cuz that lets you know that there's going to be a steep increase or a steep decrease with, um, the topography. Now again, in certain areas, that's just well known on certain parcels. So those are things that we're just going to have to understand the nuances within those areas that we are targeting. Now, again, the main thing that I look for that I need to ask myself always is there physical and legal access? That's checked off. Are there any wetlands? No wetlands. Okay, great. That's checked off. Are there any flood zones? Nope. That's checked off. And how does the topography look? All of that checks off. So it's like, okay, great. Now what I'm going to go into now is if I'm able to do Street View, I want to get a better understanding of just the layout of the general area. So as you can see, we have our little guy here, click open in Street View. Now there are times— this is just what I was going to mention right now— there are going to be times in rural America to where there's not going to be any Street View imagery available, to where unfortunately we're not going to be able to get a better understanding of the layout of the land. So it is very important to get boots on the ground, getting a drone photographer out there or an investor-friendly real estate agent to be able to walk the property, take some photos for us, and give us a better understanding. But based off of what I'm seeing here, I'm not too worried about the overall layout here. What I want to do now, and also what I take a look at as well before I go any further, I take a look at just the surrounding area. Again, since I'm not able to do Street View, it's like, okay, what else do we have here? So it looks like maybe pig farms right here. When you see that red, that looks like a red body of water. If not, those are chicken coops most likely. So it could be a little smelly within the immediate area. I don't see a bunch of like trash or junk houses, anything like that. So that's always, that's always a good sign to see. So I always take a look at the general area if I'm not able to do Street View. What I also want to do as well, let me turn on the, the county and also city limits. I'm going to show you why, because I'm zooming out now and I want to see where we lie within the county as well. So I could see in Suwannee County, it's actually a little bit harder to see Let's turn off city limits. Okay. Okay, this is the boundary of the county boundary outline. It's a little bit difficult to see there. Okay, so I'm turning city limits back on. So we're just south of Live Oak, west of 129. Okay, perfect. So let's go ahead and take a look on Zillow. One thing I want to mention as well, team, if we could take a look at the Achromatic Estimated Value, always is a nice little AI tool that gives us an estimate. Not always accurate, just with the nuances of land. We have the assessed market value as well too. So the county assessed value, last sale date, and all this other information that we're able to leverage as well too. So we have 4.97 acres and let's go ahead and head over to Zillow. And we are in Suwannee, Florida land. Okay. And I want to make sure that the right filters in place. So we are 4.97 acres. And you can see right now, lot size, it's just no minimum, no maximum. That's, it's not going to work for us. We're going to need 2 to 10 acres. And the reason why I have 2 to 10 is since it's 4.97, I want to include like 5.5 acres, even a 6-acre parcel, right? And so 2 to 10 is going to be completely fine. I want sold within the last 12 months as well too. So this area seems to have a lot of traction. So we have plenty of comps to work off of. Now I just want to make sure I'm in the right area. Since we have a lot of comps, I want to be as close As possible to, to, to our parcel, to our subject parcel. So let me go ahead and head back to this. Let's see exactly again where we're at. So we're off of 129. I'll look for 129 and 160. So that's 208, 349. Okay, we're getting there. Okay, so we're like right within this general area because we have 160 Street right here. We actually have a handful of comps within this general area. So 160th, and what's this? 160th Terrace. Oh, Terrace. So we're like, actually we're right here. So this is, this is actually like as good as it gets. We have 6 comps here within the last year. So let's go ahead and have it sorted by lot size. So we're going to have it sorted by the largest parcel down to the smallest parcel here. And what I have installed as well too, if you don't have it already, I highly recommend this Landa Insights Chrome extension. I'm not as much of a fan of this market selection one. It's kind of buggy. But when it comes to the price per acre, I think it's great. I'm terrible doing math off the top of my head. It's just a lot easier to be able to comp things out when leveraging this Chrome extension. So again, I can't recommend it enough for breaking down the price per acre. And now again, our subject parcel is 4.97 acres. So let's see exactly what we're working with. This comp I'm not going to use because obviously there's a lot of value add here and it's not really a good apples-to-apples comparison and not even close. And this is obviously why this is $34,000 an acre in comparison to everything else that we're seeing. So here we have 5 acres for $65,000. So Live Oak Acres seems to be inside of an HOA. So we are most likely dealing inside of an HOA. Now we have 5 for $89,000. So it's actually a big difference in price. But as you can see, we have a fence and it looks like a nice— let's go back to it. How many photos do we have? Open it up real quick. I mean, yeah, it's got some value here. There's a lot of improvements that have been done. Cleared, partially wooded as well too. Quite nice. What I want to take a look at is the overall speed on this parcel as well too. This sold at the beginning of the year, still a really good comp to work with. And this one went under contract, I mean, extremely quick. I mean, look how fast that went under contract, guys. So that's really good to see. And we have 5 for $68,000. This one's probably more in line of what we're dealing with in terms of it being completely wooded. Nice wildlife as well too. I wonder if they're That's a farm as well too. Okay. Let's see. So I mean, under contract too within a quick timeframe. So not only am I taking a look at in terms of how the similarities between our subject parcel and these parcels, I'm also taking a look at the overall price point and how fast it's taking to sell these as well too. Because that's a big thing to take into consideration. And so far, I mean, $17,000 an acre seems good, but I think that's a little bit high in comparison to our parcel. I think we're going to be more aligned with this pricing here, even though that one sold a little bit longer ago. Let's see what's listed for sale currently as well, cross-reference it. And I'm pretty impressed, by the way, too, by Acrematic's estimated pricing. Because it seems pretty spot on. Now this one's really interesting because this is actually inside of this HOA or subdivision, and we have 5 acres for $69,900, completely wooded. And you could see 339 days on Zillow, 18 saves. So for me, that's definitely a red flag. So that's something that we need to take into consideration. Let's take a look. And also too, with competition, we have 3 5-acre parcels all listed within the same price per acre range, and They've been on the market for quite some time and they have not moved. So this is something that we definitely need to take into consideration. So not only do we take a look at the sold comps, we definitely need to take a look at the for sale comps to see if anything has changed in the market. And it definitely has. So let me go back to Achromatic. Estimated value is around $64,000. That's actually not bad. But based off of what I'm seeing, I would be trying to sell this parcel at around like $50,000 because If I'm listed within this range going up against the for sale comps, I'm not going to be able to, I'm not going to be able to move anything. So there's a lot of moving pieces that come into consideration, right? So proximity is one of them. So how close are we able to find comps in comparison to our subject parcel? That's step number 1. Step number 2 is the how similar of parcels are we able to find, right? Is it completely wooded? Is it clear? Are there any value adds that are done to it? How much did that increase the price? How fast did that move, for example? So those are things we need to take into consideration. So again, we need to look at proximity. We want to take a look at how much of an apples-to-apples comparison that we're able to have. Then what we also want to take a look at is speed. What's the overall liquidity of this, right? When was it listed for sale and when did these go under contract? And then lastly, what we're going to take a look at are the for sale comps. Have there been any shifts in the market? What are we currently competing against? What are they listed at? How long have they been listed for sale on? And obviously, as you can see, this market has slowed down quite a bit. And if all of these 5-acre parcels are listed anywhere from $12,500 to almost $14,000 an acre, we're going to have to be priced below that to be able to dispo this quite quickly. So I would be wanting to list this property at around $50,000. Is there a chance it could sell for more? Yeah, absolutely. But based off what I'm seeing here, I want to mitigate risk as much as possible and I want my parcel to move as quick as possible. So that's exactly how I comp every single land deal in around 15 minutes with one clear decision. Do I pursue or pass? Now, this process is what separates wholesalers making $2,000 per deal from land flippers making $40,000 per deal. And the difference isn't luck, it's systematic evaluation. So if you want to learn this system and start identifying deals like this in your market, book a call with my team at the link below and we'll show you exactly how this works for you. And if you want to see this process in action with a real student, check out the next video, How to Flip Land When Sellers Don't Trust Investors. Now, That video breaks down the exact conversation you'd have with the seller after you've comped the deal and decided it's worth pursuing. Watch that next. The link is right here. And thanks for watching.