Generate Passive Income by Investing in Land-with Brent Bowers-EP98

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Brent Bowers, an expert land investor that spent 8 years in the Army after the real estate market crashed in 2008. Eventually, he found his way back to real estate, but this time, he began investing in land. Listen to hear how you can generate passive income through buying and selling land. Episode Highlights:  Jeff does not know a lot of real estate investors that focus on land rather than structures. In 2007, Brent purchased his first house and turned it into a rental property after getting his real estate license. After the crash of 2008, Brent found himself struggling to sell real estate and ultimately joined the Army. In 2013, Brent re-entered the real estate industry when he started a wholesaling business. Investing in land can act as a side business because of the small amount of customer service that is required. Land is potentially a better investment than renting when comparing the difference in stress and risk levels. Ford is able to figure out a way to make sure buyers can afford that monthly payment because they have no debt on the truck, just like Brent with his land. When buying land, there is a lack of risk because so many realtors are focused solely on property investment. In 2015, Brent reached out to 687 land-owners whose land was not buildable or inaccessible. Brent was able to buy his first land plot, roughly 12,000 sq. feet, for only $285, and sell it for $5,000 in less than a week. It only took one phone call for Brent to find out how easy it was to fix his land plot that was considered unbuildable. All it takes is calling the county to find out who is behind on their land tax payments to get a list of potential sellers. There will always be hurdles and challenges, but there are plenty of ways to work around them, all it takes is the effort. By making the monthly payments affordable, Brent is able to sell land to just about anyone who is looking. In the beginning, Brent was all about flipping the land as quickly as he could, but now has switched to mortgage-based financing options. In-fill, recreational, and agricultural are the 3 types of land that Brent is buying and selling. One out of every 12 or 13 properties that Brent sells goes into default, but it is usually already profitable. It’s incredibly easy to re-sell a piece of land that a buyer has defaulted on because all the content is already there. Based on KPIs, Brent has mostly stopped buying land in his county and focuses on places where land is cheap. Plenty of people let land go when they realize all the necessary steps that it takes to alter the land. Signs, referrals, and retargeting ads on Facebook are the KPIs that Brent focuses on when selling land. Because every county collects taxes on their land, they also have a tax-delinquent list and a tax-lien list. In June of 2020, Brent began his own coaching platform that gives systemized steps on how to buy and sell land as he does. It only takes 18 days to get through the course, so cash flow is possible after only 60 days. 3 Key Points: When the market crashed in 2008, Brent decided to let go of his real estate license and join the Army, being sent off to Afghanistan shortly thereafter. Most agents avoid buying and investing in land simply because they do not know how to make money off of it. Brent focuses on counties that have incredibly cheap land, usually sticking to an hour or more away from Walmarts and McDonalds. Resources Mentioned: Lab Coat Agents (website), (Facebook), (Facebook Group), (Twitter), (Instagram) Brent Bowers The Land Sharks, Instagram, Facebook ListSource AgentPro247 PropStream Chime (sponsor) LinkU (sponsor)