How To Get Free Land
Who doesn't like free stuff? It might seem crazy, but you can potentially get land for free! Now around here, we aren't looking for any handouts; we’re hustlers. But we want to play it smart and game the system so we can get land for free. I will share with you exactly how to get land for free—how I would approach it and how I have done it so you can do the same. But before I get into that I want to share that we finally launched The Land Flipping Formula Mastermind. So if you're interested in joining a community of investors that want to build secondary income streams by buying and selling raw land, go ahead and check it out. Right now, it's only $50 a month to be in the group. That may change down the road, but as of this posting, that's where the prices are.
It’s All About Flipping
Now let’s get into how you can get land for free. It's all about flipping. This process can work to get a property for free for any reason. For instance, I want to buy five to ten acres in Florida, and I'm not sure how I'll monetize it yet, but part of the purpose of this property will be for animal rescues, specifically reptiles. It’s a passion area for me. So many reptiles get abandoned, and their lives suck. They’re stuck in a tiny cage somewhere. So I want to build an incredible habitat on a massive property where these animals can thrive. It will take money to do that, so I want to flip to get the land for free and then use my income streams to support this whole ecosystem. I mean, why not? We only live once!
So how am I going to make this happen? First things first, we're going to determine where we want to buy property. Recently I’ve been working in Putnam County, Florida. I did a video showing exactly what retail pricing is down there, and this works everywhere, by the way. So go ahead and pick whatever area you want. I’m just using Florida as an example. Properties were selling anywhere from $4,500 to $10,000 for quarter-acre lots in this area. So I will go with the lower price and say everything's going for $4,500. Let’s say the ten-acre plot I want will cost me $50,000; just throwing a number out there. So my exit price on these little lots is $4,500. I sent out a mailer to people who own quarter-acre lots within this county that live out of state. I also made sure they were not held under an LLC or a corporation. The property has to be under an individual's name. I offered everybody $500 a piece. Now let's break this down. I’m making offers at $500 a pop, and the first five hundred mailers cost me $500. So my first upfront investment is $500 just to get the feelers out and put out some lowball offers.
Breaking Down The Financials
Typically I get about three accepted offers out of the first five hundred offer letters. I'm going to need $1,000 to purchase each property. That's $500 for the purchase, whatever taxes are owed, plus closing costs. So each property is going to cost me $1,000 as well as $200 per property for the marketing. It was really $500 but let's work with some easy numbers here. So $500 to get three deals, let's say it was $200 a pop. I’m all in on each property for $1,200. I’ve got an exit price of $4,500. Now I'm going to list all these for $3,900. I’ll give them to a real estate agent to list them for that price. The agent will sell these, and I will net roughly $3,500 after the agent's fees and closing costs. Then minus the $1,200 original investment, which will leave me with a profit of about $2,200-$2,300 on each property.
Now I said I wanted to buy a property for $50,000 for free. If I'm getting $2,200 per five hundred mailings, per property, and there's three of them, that's $6,600. Basically, I need to repeat the process about eight times. So I flip all these deals through a real estate agent to collect the cash. That cash flow will buy me a free property when it's all said and done! Yes, I hustled for it, I worked for it, but I generated new income streams to get me exactly what I wanted. This works for everything, you could gamify buying a car, and I was financing it, and the car cost me $1,000 a month, just use the same exact formula. We're just building up a new income stream through raw land using the profits to buy the new asset, and we didn't have to change our nine-to-five lifestyle, or however our income is already generated. We're just finding new ways to make it happen.
Is There Actual Free Land?
Alternatively, if you search on Google for free land, there are plenty of results. Honestly, the government will give you land for free, but it's usually some obscure, off-grid place. And this is cool, we do a lot of investing in that, but they want you to live on the land and bring some infrastructure to underutilized areas. They have incentives to give it to you for free—you’ve got to follow their rule book. I don’t know about you, but we don't do well with rules around here! We want to live our life on our terms. So how do we do that? We get creative with our marketing. We buy property ridiculously cheap; we flip the property for profits, and use them to buy the lifestyle we want. So that would be my strategy for buying or getting land for free. Buy the assets, flip those assets, and use that profit to get the land you want for yourself.
This process works everywhere. Determine the property values wherever you're looking. This could be Tennessee, Virginia, Texas, whatever. It doesn't matter what the value is on the retail side. You just need to make offers of ten to twenty percent of the exit price you want. Now you're going to get a lot of “eff you” responses out of this, but with those few responses, you're going to get some people who say yes. The ones that say yes, you're going to close those deals. Now, in the beginning, just use a real estate agent. Have them flip it for you, put it on the MLS, and exit. There are also plenty of other strategies to sell these. For example, offering seller financing terms and getting monthly income. But it does take time; building the list, collecting the data, things like that. So that’s a strategy for down the road. If you want to know more about that, just check out the videos on my YouTube channel showing exactly how to do it. I want you to get some fast cash; in this hot market, it is easy to generate that fast cash.
Wrapping Up
So start connecting with real estate agents, and find a top listing agent to get your property on the platforms. Then get it marketed, get it under contract, get it sold, get your check, and roll it into the next deal. Then keep rolling, rolling, rolling, so you have enough profits to get that dream property for free. Use this process for whatever your next journey is. As I said, it doesn't even have to be property. It could be a house; it could be a car; it could be a vacation. It doesn’t matter what you're after. It could even be paying off your kid’s college, paying off your credit cards, the list goes on and on. So get started on the process, build momentum, and get some land for free!
Check out my YouTube channel if you’re interested in more land investing tips. Also, if you have any questions about the land investing business and need some coaching, shoot me an EMAIL or check out landflippingmichael.com. Then, we can see if we are a right fit for each other and lock you in for a coaching call.
