Mark Podolsky, Matt Forbes, and Mike Zaino discuss selling difficult land parcels like landlocked plots and steep slopes. They show a mailing that generated three signed deals and explain their strategy: make low offers, find niche buyers, and wholesale properties for quick profit.
Questions this video answers
1,000 mailers.
Three signed purchase-sale agreements.
Offer as low as 10 cents on the dollar (10%).
Full price (in their terms) is 25% of the regular price.
About $200 (i.e., ~5% of $4,000).
Chapters
Al J. Ford has a little bit of information about his. His mailings. All right? So he says his first mailer, he mailed a thousand acceptance rate. I think that's seven to nine to mountain land. So he got three signed purchase sale agreements. One was landlocked, one was deep in the valley and unattractive. And the third, the grade was too. Too steep of a slope. Okay, so the. Now the landlocked thing I can understand, right? If it's truly landlocked, I may be out unless I can talk them down to 10 cents on the dollar. One deep in the valley, unattractive. So that unattractive piece of property, Al J. Ford, to you sounds like character. Is Matt Forbes his favorite property?
Yeah, like, literally, if you had bought that, I probably would have bought that wholesale from you.
Yeah, sure. You know how you approach the landlocked? You approach it like my buddy used to approach his roofing jobs back in the day. He didn't want to do roofing anymore, so he doubled the price on every job. And anybody who said yes, he'd be.
Like, well, I got to do it. Well, I gotta do it.
So, like, you just look at that and you go, yeah, you want. What is it, 2000? Yeah. I'll give you 500 bucks if they say yes. Well, you gotta buy it, you know, There you go.
You gotta buy it. It'll sell.
Don't let it go. Make a ridiculous offer on it.
Yeah, make a ridiculous offer on it.
I mean, before it'll sell.
The third, the grade was too sleep. Too steep of a slope. Again, is.
This sounds like a view.
It sounds like a view. It sounds like an opportunity for a home on stilts. It sounds like, again, if you can.
Talk him down, whatever your offer was, I go back and break it into quarter of that and just buy it.
Yeah, yeah, Correct.
There is a point where can't refuse it. Look, he. That guy knows that property sucks, right? It is what it is. And you may think that property sucks, but that's just two people out of everybody. And there are people who will go pay for that. Especially if you can go to the market. Let's say the market's $150 a month for six years. You can go to the market and say, hey, it's $110 or $125 for five years or six years because you bought it at a third of what the next one costs. That quote, quote you like, there's a lot of love in those weird, hokey properties, and there's a lot of Land investors who've been around a long time who will buy that stuff wholesale. Like, I, I wouldn't want to live there, but that does not cloud my judgment on whether somebody else might want to live there. I'm not going to pay full, full price. And full price is, of course, 25% of the regular price. Right. But if that guy thinks it sucks, you know, being like, hey, look, I know I offered you, you know, whatever, 800 bucks or eleven hundred dollars. Like, look, it's, it's this, it's that. It's got this problem. It.
250. Buy it.
I give you three.
You'll sell for 500 minimum.
Yeah, I mean, you get, you literally, you get to do that. The thing is, you, you've already sunk a thousand mailers into this.
Yeah. Right.
And so you might as well go low. And if they all say no, no problem. And if one of them says yes, you're going to recoup all those costs and go make money. So don't be afraid of that stuff.
There's always money in front of you. There's every time a deal touches you, you know, you have an opportunity to make money on it. So don't just be so quick. Just like when we talk about over the last few shows when people like, oh, I don't work this county, or I don't have money to just look for a partner, somebody, you know, put it out there. Hey, get a great deal. If you, if you really, truly offer them 25 cents on a dollar, somebody's gonna fund that deal. Somebody's gonna want that deal. Don't just let it go.
Yeah, I agree. I think there's meat on the bone there. It's not, it's not perfectly wrapped up right. So you're not gonna pay regular price, but there's meat on the bone. Usually for that simple.
It's. I, listen, I, I, this property's on a very steep slope. I know I offered this honestly. I, I, I, I, I'm, I don't want to, I don't want it. But if you really want to let it go, I could, I, if you're really looking to get rid of it, I can pay you 250 bucks and.
You know, take your wife out to dinner.
Yeah. And, you know, and you. And then, boom. You can't say no to that.
Yeah.
You can't say no to it.
They, they do. Well, yeah. You're saying. Yeah, he can't say no. Yeah. I mean, they don't, you know, not everybody sells blah, blah, blah, Blah.
You can't say no if he says yes.
Yeah, no, exactly. Like if you had mailed at a thousand dollars. If it's 4000 is retail, and you mailed at a thousand, and that property sucks. And so you end up buying it for 200 bucks. $200, sure. And you probably sell it. Instead of 4,000, you probably sell it.
For 3,000 wholesale for a thousand, make 800 bucks.
That's aggressive. But I like it.
I like somebody who has a buyer's list and, and. And knows that, you know, look at this. Plenty of people out there right now, buyers list, but people looking for property, and they're waiting for that.
Now.
You'd be like, look at. I have someone who's just looking for that exact thing. They want to. They want to have an incline because they want to race their dirt bikes up. But I don't know, make up a reason somebody wants it.
Yeah. And for 200 bucks, who cares? Yeah. If it was for. If it was $20,000. Okay.
Yeah. Then you care.
Right. That's real money. But 200 bucks or 500 bucks, something like that.
What else? And you may not sell it in third. You may not sell it in 30 days. Right. But what's the holding cost?
30 seconds, you might become on this show and you brought that property. I say go get that property for 25% of the 25 cents on the dollar, come back this next show and sell it on our show.
Next up, we have a 1.5 acre landlocked property with beautiful trees.
