Turning Profit

Pete and Heather Reese

Welcome to Turning Profit — a podcast for people who love real estate! To learn more, visit turningprofit.com. Hi there! We're Pete and Heather Reese, and on this podcast, you’ll learn the business models and skills that professional real estate investors use to make money and build wealth. We leave no stone unturned as we share details about our own deals and experiences. Our interviews feature some of the smartest people in the industry so you can learn and grow your own real estate investment business. Be sure to give us a follow, so you never miss an episode!

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How to Scale Your Land Flipping Business
2日前
How to Scale Your Land Flipping Business
Scaling a land flipping business isn't just about dreams of expansion; it's a strategic move to take your venture to new heights.However, many businesses find themselves grappling with the challenges of scaling.It demands more than just ambition; it requires strategic planning, a strong foundation, and effective execution.As you navigate the path to growth, remember that scalability isn't just about expansion—it's about unlocking the full potential of your land flipping venture.In this episode, Heather and I explore key components for scaling your business, including building a dynamic team, establishing a solid foundation, implementing efficient systems and processes, generating more leads, and more.Join us as we delve into each of these, unlocking the secrets that can reshape your land flipping journey.Key TakeawaysIntro (00:00)Build your team (05:10)Build a software foundation (12:32)Systems and processes to scale (17:23)Get more leads and contracts (19:40)Think bigger and get better deals (23:23)How to fund deals as you scale (28:02)New ways to make deals work (30:20)Networking with other investors (33:42)Time to answer some questions (36:40)Additional Resources:Scale Your Land Flipping Business With Next-Gen Automation! https://software.landconquest.com/The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How to Sell Your Property Fast
28-11-2023
How to Sell Your Property Fast
If you're in the business of acquiring and selling land for profit, you understand the importance of turning around properties swiftly while maximizing their value.In this episode, Heather and I offer insights and strategies to help you sell your property faster and turn your investments into lucrative returns.As a land flipper, your ability to present a property in the best possible light is a crucial factor in selling it quickly. Invest in professional photography and drone videos to tell a compelling visual story of your land.Transport potential buyers to the property through vivid imagery that captures its unique charm and potential. Leverage AI tools to subtly enhance visuals without compromising authenticity.Additionally, every piece of land has a story. Craft narratives that go beyond the physical attributes, describing the lifestyle and possibilities that come with ownership. Help potential buyers envision a future on your property.Remember, speed is crucial in this business, but so is the art of maximizing value. Tune in to this episode for more tips on selling quickly and locking in bountiful returns!Key TakeawaysIntro (00:00)Selling land quickly and efficiently (05:27)Presenting the property in the best possible way (07:21)Use a quality agent/broker to list your property (16:57)Multiple listing services (20:05)Using neighbor letters (25:41)Facebook Marketplace and Craigslist to sell (35:20)How to improve marketability (39:48)Time to answer some questions (43:41)Additional Resources:The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How to Maximize Your Profit on Every Land Flipping Deal
21-11-2023
How to Maximize Your Profit on Every Land Flipping Deal
Maximizing profit in land flipping requires a strategic approach guided by key considerations in each phase of the deal. It's not just a matter of buying and selling. It's about making savvy decisions at every turn.From shrewd negotiation during the purchase to managing closing costs and implementing strategic property improvements, investors can significantly enhance their gross profit margins.By understanding these components and making informed decisions, investors can significantly enhance their gross profit on each deal, contributing to long-term success for their business.In this episode, Heather and I delve into some strategies offering a step-by-step roadmap for investors aiming to extract the most value from each land flipping deal.Whether you're a seasoned investor or new to the game, our episode offers actionable advice and a roadmap for success in the competitive world of land flipping.Tune in to gain valuable insights into the comprehensive strategy that savvy land flippers employ to maximize profits on every deal. Key TakeawaysIntro (00:00)Gross profit for every deal (07:17)Gross profit formula (09:46)Purchase price negotiation tactics (17:09)Closing costs on the purchase (22:02)Due diligence expenses (27:13)Property improvement/value-add expenses (30:33)Marketing expenses (37:09)Resale negotiation and transaction expenses (42:56)Time to answer some questions (51:01)Additional Resources:The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
What is Possible in Your First Year Flipping Land
14-11-2023
What is Possible in Your First Year Flipping Land
Flipping land can be a profitable venture, but the possibilities in your first year will depend on several factors, including your speed of learning, resources, time, experience with building a team, goals, etc.It's essential to keep in mind your first year may not yield significant profits.Success in this field often requires patience, market awareness, and a deep understanding of local regulations and opportunities.Our first year in land flipping was marked by mistakes, learning, adaptation, and success. The results were impressive. We achieved $1,247,000 in revenue with a gross profit of $658,000 from 32 sales. Average gross profit per deal was approximately $20,580, and properties spent an average of 55.46 days in inventory.The lessons and achievements of that year have set a solid foundation for our business in subsequent years to where we are now.Join us in this episode as Heather and I reflect on our first year, all our mistakes, and the lessons we took. We also have some great tips for those who are just starting out.Tune in!Key TakeawaysOur starting point (05:10)Learning curve and mistakes (11:29)Closing the first deals and reselling the properties (17:29)Partnership to close deals (25:27)My first 50 deals and monthly income reports (26:50)Our numbers from the first year (28:44)Time commitment for successful land flipping (31:02)How to generate leads your first year (34:20)Educate yourself on how to evaluate deals (38:45)Set goals for your land flipping business (44:47)Model success on your land flipping journey (48:05)Time to answer some questions (50:02)Additional Resources:The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How Boring Direct Mail Has Made Us Millions
07-11-2023
How Boring Direct Mail Has Made Us Millions
In land flipping, finding the right method to generate leads can make all the difference. While some investors chase the latest trends and technologies, there's one method that has quietly been making millions for many in the industry – boring old direct mail.You might wonder why direct mail is considered "boring." Well, it's not flashy, there's no high-tech wizardry involved, and it's not exactly the latest and greatest trend.However, it's precisely this simplicity and consistency that makes it so effective. The tried-and-true nature of direct mail means it has been a reliable method for many.Its systematized and repeatable nature ensures a consistent and reliable lead flow, setting it apart as a valuable method for investors.The process is straightforward: draft a compelling letter, refine it over time, and change the mailing list as needed.Want more deals? Send out more mail. It's that simple. The focus shifts from constantly rewriting letters to finding the right areas to invest in.In this episode, Heather and I explore how direct mail has become the cornerstone of many successful land flipping businesses and how to use it to generate leads. Key TakeawaysIntro (00:00)The boring direct mail approach (04:21)Other ways to generate leads (09:15)Advantages of direct mail (22:40)Disadvantages of direct mail (26:32)Getting started with direct mail (28:25)Should you send follow-up letters (34:10)Who to use for direct mail (35:16)Partner with Pete Program (37:52)Cost per deal for direct mail (42:01)Time to answer some questions (48:07)Additional Resources:The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How to Get Leads in Land Flipping
31-10-2023
How to Get Leads in Land Flipping
Generating leads is the lifeblood of the land flipping business. Without a steady stream of leads, it's challenging to keep the deal pipeline flowing.In this episode, we'll delve into various methods for generating leads and deals in the land flipping business.One of the most common methods for lead generation is Direct Mail. Direct mail is a straightforward and repeatable approach. You can create a targeted list, choosing specific criteria such as property type, ownership duration, location, and more. Outsourcing the mailing process is recommended for efficiency.But this is just one method. We have many more, including:- Cold Calling,- Outbound Texting- TV ads- Pay Per Click- Social media ads- SEO- Repeat sales and referralsEach of these lead generation methods has its advantages and considerations to make before using it to generate leads.Whether you're an experienced land flipper or just starting out, understanding these lead generation strategies is essential. By mastering the art of lead generation, you can pave the way for a thriving land flipping business.Remember that not every lead will convert into a deal, and due diligence is essential in ensuring a successful transaction. Never ever force a deal.Tune in for a deep dive into these lead generation strategies and find out which best suits your business!Key TakeawaysAlways have leads (02:15)Gauntlet mentorship program (05:55)The stages a lead goes through (14:04)Don't force a deal even with little deals (16:20)How to calculate cost per deal (19:30)Why direct mail works for land flipping deals (21:54)Offer letters vs neutral letters (25:)Cold calling to find leads (28:54)Outbound texting for leads (30:50)TV ads, Pay Per Click, Social Media ads, and SEO (34:40)Repeat sales and referrals (46:45)Looking for value-add opportunities (54:49)Time to answer some questions (56:19)Additional Resources:The GAUNTLET 8-Week Blueprint To Land Flipping Mastery: https://gauntlet.landconquest.com/Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How to Determine If a Property Is Really a Deal
24-10-2023
How to Determine If a Property Is Really a Deal
When it comes to land flipping, one crucial factor is the ability to determine whether a potential property is worth pursuing or not. Having a clear set of criteria can make this decision-making process more efficient and less emotional. In this episode, we discuss the essential steps for setting criteria and determining if a land deal is worth your time and resources. In our case, we aim to double our investment in the property. Even though this doesn't always happen, it is a good criterion for looking at deals. This benchmark allows room for profit even after considering commissions, closing costs, and due diligence expenses. Ultimately, each land investor may have slightly different criteria based on their experience and risk tolerance. As you gain experience in the field, you can refine your criteria to suit your investment style and market conditions. This personalized "rule of thumb" will help you quickly evaluate potential deals. Tune in to this episode to learn more about our criteria for determining a good deal and other factors we look at, including the exit price.Key TakeawaysIntro (00:00)Investing vs. Gambling (02:45)Figuring out what a good deal is (08:25)There's always another deal (16:09)New social handles – Partner with Pete (19:40)Establishing criteria for a deal (21:13)How to determine the exit price (26:31)Never base your projections on listed properties (32:46)How to look at the history of comps (39:22)You've got to buy it right (42:50)Time to answer some questions (43:52)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
Is Land Flipping Ethical?
17-10-2023
Is Land Flipping Ethical?
Like many economic activities, the ethics of land flipping can be a matter of debate. This is especially true when the buyer makes a huge profit margin.In a recent land flipping case posted in our community, an investor purchased two side-by-side lots, totaling one acre, for $1,000 and subsequently sold them for $55,000. The return on investment was indeed impressive, reaching over 5,000%.This exceptional profit margin sparked both excitement and controversy.This is the basis of our episode this week. We try to navigate the tricky question of the ethics behind land flipping, how much profit is too much, and where to draw the line.But it's evident in our book that when you have a seller and a buyer that negotiate and come to an agreement for a deal, there's no ethical or unethical profit number.One of the core tenets of ethical land flipping is the importance of transparency and fair negotiation.However, there are some instances where you should outrightly walk away from a deal that may be considered unethical.Join us in this episode as we explore the ethical dimensions of land flipping and tips on what constitutes a fair and responsible transaction.Key TakeawaysEthics of land flipping (02:02)The mindset of land sellers (09:15)When to walk away from a deal (21:12)Who land flipping offers work for (26:05)Who it doesn't work for (33:37)Where to draw the line (34:49)Land Conquest community (39:50)Partner with Pete Program (41:22)Mentorship program coming soon (46:05)Let’s answer some questions (47:01)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
Flipping the Script: Transitioning from Real Estate Agent to Real Estate Investor
10-10-2023
Flipping the Script: Transitioning from Real Estate Agent to Real Estate Investor
For many real estate agents, the profession is not just about facilitating transactions; it's a stepping stone toward their dream of becoming real estate investors.They enter the industry with a passion for property and a desire for financial freedom.  Yet, the path from agent to investor can seem daunting.What many agents don't know is that the same skills acquired during their time as agents can be invaluable in real estate investing.Some of these skills include:- Contracts Expertise: Real estate agents are well-versed in handling contracts, which is a fundamental skill for any investor.- Masterful Negotiation: Negotiation is the lifeblood of real estate transactions, and agents excel in this area. Their knack for striking beneficial deals can prove invaluable when negotiating purchases and sales in the investment arena.- People Skills: Real estate is fundamentally a people business. These interpersonal skills are pivotal for fostering positive relationships and managing expectations—an essential trait for successful investors.- Problem-Solving Prowess: Real estate transactions often present challenges, and agents have honed their problem-solving abilities to navigate these hurdles effectively. In the world of investing, where unexpected issues arise, this skill is a game-changer.In this episode, we'll explore how real estate agents can leverage their acquired skills to confidently transition into real estate investing, with a focus on land flipping as a viable and profitable option.Key TakeawaysIntro (00:00)Why real estate agents can easily transition to investors (01:51)Our journey through investing (04:35)Real estate agent work vs. real state investing (16:51)The big skills real estate agents acquire (24:26)How to leverage these skills in investing (29:49)How agents typically start investing (30:49)Land flipping as a robust alternative strategy (34:18)Partner with Pete (35:39)Ready for some question (49:21)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
Avoid These 7 Types of Properties At ALL COSTS for Successful Land Flipping
22-08-2023
Avoid These 7 Types of Properties At ALL COSTS for Successful Land Flipping
If you're venturing into the world of land flipping or have been doing it for a while, it's essential to be aware of the types of land to avoid at all costs.While there are various strategies to make money through land flipping, focusing on quality properties is crucial. The first step is recognizing the difference between calculated risks and outright gambles.If a property aligns with your objectives and exhibits potential for appreciation, it might justify taking a risk. On the other hand, speculation and gambling come into play when dealing with properties that lack a discernible price point or solid data for valuation.While some investors specialize in dealing with specific types of challenging properties, it's generally advisable to avoid land types that pose significant obstacles to development, usability, and reselling.Staying focused on quality properties that can be listed at competitive prices and sold quickly is the key to a thriving land flipping venture.In this episode, Heather and I take you through our philosophy on land flipping and the criteria for a good land deal.Tune in for some tips on the land types you should avoid at all costs to ensure a successful land flipping venture.Key TakeawaysIntroduction (00:00)Don't force a land deal (11:20)Criteria for a good deal (16:12)How to correctly evaluate properties (20:36)Our philosophy on the land we flip (26:16)Problematic examples of properties to avoid (29:09)Let's answer some questions (45:45)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
How to Scale Your Land Flipping Business Like a Pro
08-08-2023
How to Scale Your Land Flipping Business Like a Pro
In this week’s episode of the Turning Profit podcast, Heather and I will be sharing with you how you can scale your business.As you might already know, scaling is the process of expanding your business in one or multiple categories.When it comes to land flipping, that actually means multiple things: You could scale your revenue, your profits, your transactions, or even your property types.If you decide this is for you, then planning your scaling will be essential to your success.And this is exactly what we’re here to help you with!Plus, as always, we’ll also be answering some questions from our community members at the end of the episode, so make sure to listen till the last minute!Are you ready? Let’s dive in!Key Takeaways:Introduction (00:00)Today’s topic is… (01:11)How to scale your land flipping business (17:57)Major scaling considerations (19:03)Let’s talk finances (20:23)Business model effectiveness (24:19)What about operations? (26:41)Team building (33:20)Are you ready to take on some risk? (38:51)Let’s answer some questions (45:03)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
All Your Land Flipping Questions Answered (Q&A Part 3)
01-08-2023
All Your Land Flipping Questions Answered (Q&A Part 3)
In this week’s episode of the Turning Profit podcast, Heather and I will be answering ALL your land flipping questions in our third Q&A of the season!We’ll be discussing all the fun stuff, from how you can partner with Pete to our favorite payment processor to whether or not you should deal in non-disclosure states and more.If this sounds like something you’re interested in (and we’re certain it is), make sure to tune in.Are you ready? Let’s dive in!Key Takeaways:Introduction (00:00)It’s time for another Q&A (02:03)Land reviews by Pete (12:25)Let’s answer Daniel’s question (14:47)Down payment on a note (17:58)Partnering with Pete 101 (20:32)Cash and trade deals (22:27)Let’s talk about non-disclosure states (24:54)How to market a property (28:38)Payment processor question (31:01)Under contract but no comps? (32:13)Returning calls: Yay or nay? (35:59)An example deal for you (38:01)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!
The Most Common Land Flipping Red Flags and How to Deal With Them
25-07-2023
The Most Common Land Flipping Red Flags and How to Deal With Them
In this week’s episode of the Turning Profit podcast, Heather and I will be discussing some land flipping issues you might have to deal with… and how to troubleshoot them.We will be discussing everything, from the problems you can fix, like title issues and oversights (from you and others), to the ones you can’t always fix, like due diligence issues, bad neighbors, or unmotivated sellers.And, as always, we’ll also be answering some questions from our land flipping community (have you joined yet? Because we’re waiting for you!), so make sure to listen ‘till the last minute.Are you ready? Let’s dive in!Key Takeaways:Introduction (00:00)Problems in the land flipping business (03:51)Acquisition problems (17:25)Dealing with due diligence issues (32:15)Marketing problems and how to deal with them (37:41)Let’s talk about resale (41:58)Fixable vs. unfixable land flipping issues (46:53)Q&A time! (49:08)Additional Resources:Want to discover our FREE training program? Join us at: https://landconquest.com/Read our monthly income reports at: https://turningprofit.comWant to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals at: https://50firstdeals.turningprofit.com/opt-inFollow Heather on Instagram here.Follow Pete on Instagram here.----Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!