I'm not a big like invest in real estate with no money kind of guy.
Just unless you got a lot of time or a lot of heart with
some people, do is great. I want, like, I want somebody
to have ten or twenty thousand dollars to start so that they can you know,
a target three to five different areas, because when you're just starting you
don't know right. You gotta choose a few areas and hope and a prayer
type deal. Set up two marketing systems For me, I would go with
mail and text messaging. You are listening to Carrie Let's Financial Survival Network,
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Survival Network now more than ever, and welcome. You aren't watching listening to
the Financial Survival Network. I'm your host, Carry Lutz. Where at the
last week in August, amazing party is almost over for the summer, But
if you're looking to get back into things, got a really impressive guest here,
Clint Turner, and Clint you started out in twenty seventeen investing in land
and it's just mushroom from there. Hey, what were you doing before you
got into investing land? By the way, you find a Clint's site,
learned dot land and if you got a question for Clint or myself, kl
at Kerry Lutz dot com. So, Clint, before you got into land
investing, what were you doing? I was trying to graduate college. That
was what I was good. Oh you're n yeah, yeah, yeah,
I'm one of those that sounded a little earlier. So I was coming out
of college and I had started a sales job and tech sales, and very
quickly realized that was not going to be a long term path for me.
So I had a bunch of sidehouse I was putting at ms and bars,
trying to flip houses with a buddy, and I stumbled into land and it
made me the most money and it was simple for my simple brain, and
so I've just stuck with it. So so all right, So land investing,
you're primarily confined to Texas, and if I understand your reasons correctly,
because you can basically sidestep the zoning process or the rezoning process if you're dealing
with ten acres or more? Do I have that right? Yes, a
couple of caveats. Texas likes to throw in extra territorial jurisdictions or etjs,
where some areas they'll try and cast. But for the most part, in
Texas, if you can buy twenty or more acres and you're outside of a
city limit, so you just turn the city limit filter on and whatever software
you're outside of city limits, you can buy pass platting. You're it's called
an exemption from platting, and it allows you to take that property. And
as long as the you know, daughter tracks, if you think of them
that way, father daughter are over ten acres, then you bypass the process
so you can go in. And it makes underwriting and looking at deals a
lot easier because there is a lot less yeahs, oh my god, Blake.
So you can basically have that thing flipped and ready for construction in a
matter of weeks or days even, right. Yeah, And the construction we
do is sometimes none, but if we do, it's just it's very simple
horizontal. We'll do driveways. The electric company extends the electric, the water
company extends the water, so Infazona and yeah, very very very basic infrastructure.
And I'll tell you this, you can sell dirt with no infrastruction too.
I've just found in these markets, if you can make you know,
your property sell quicker. So yeah, all right, so I like it.
It sounds good. And how much can you make on a property like
that? Well? Yeah, so, I mean our last few deals understanding
of sake in seven or eight years to get to this point, our properties
are we're buying them between five hundred thousand and one and a half million and
then basically flipping them for dumble that right, that's kind of the simple way
to think about it. But I started out by fifteen hundred dollars parcels,
eight hundred dollars parcels, two hundred dollars or two thousandsar parcels and selling them
for double that. Right, So there's been a there's been a step being
stone there. But you know, how hard is it to find deals?
Now? All right? That's hard? You're looking right, Uh, they're
they're out there. One of the challenging things in our arena is that,
like if you're looking for an apartment building, a rental property, a cell
storage facility, there's almost always debt that motivates the owner to make a decision
right whether the cash show the proper for you or they've just got so much
equity in it whatever. In land world, not many large ranches have debt
against them. They're almost all owned in cash generationally passed down, and so
a motivation factor is more of situational than like economic. Right, So there
was land in Texas has generally gone about forty percent over the last three years
just in a dollar per acre spaces. Everybody wants to sell right now.
So it makes fighting deals a little bit challenging. But again in my business,
two good deals a year is gonna you know, that's gonna make a
very very good year for us. So it's just about staying consistent and then
okay, and now you coach people and you help them do this. If
I want to start buying, lay on, how much money do I need
to get into this game? Yeah, you probably need about ten to twenty
thousand, is what I say to start. I don't use my well for
the most part, I people not to use their on money to start right
to able to find and put deals together and just work with capital partners like
my fund. For example, we partner with people fifty fifty on deals,
right, and so tend to twenty grand is good to start. So you
can start making contacts, set up basic systems, and you know, start
putting deals together and then really you know, skies of lemage from there,
as much as you want to invest. I invest a lot of my personal
cash into land notes just because they yield twenty thirty or forty percent a year.
And I don't know another asset class that does that pretty consistently, but
the same consistency as you pay your mortgage, we make those kind of returns.
And so I do put a good portion of my own cash into our
deals too, But I don't teach that out in the game, right,
I say, use other people's some money. So what best areas in Texas
to look at? The I mean, I know the whole state is one
big It's like Florida, It's one big group. Yeah, undergoing tremendous growth.
You go thirty million people, second most populous state in the country now
and climbing, well, California, the first is declining. Texas Laurida are
on the move. Maybe one day Texas will be the most populous state.
You never know, So areas of Texas that you like the best. My
simple thing is, if I'm looking for a good land deal, it's within
two hours of the international airport in the state of Texas. Pretty easy to
josh circle there andrew metro areas within. That's not not all not all you
know, encompassing, but a lot of those deals sell a lot quicker than
versus way out West Texas or wouldn't be tex You wouldn't be an out Abilene
or LaRita. Right, No, Well, but I do know people who
do. Because people who can't afford land two hours away from the city,
they go three, four or five hours, right, different buyer pool,
a lot of owner financing, a lot less of the infrastructure type talk that
we're having here. But I mean, I got a buddy who all he
does is slept dry dry land in West Texas and make selling figures. You're
doing it. So there's demand all around the state, but you're going to
find the highest leverage for your time and that kind of two hour window,
I think. So then that's basically three metropolitan areas. Then with international airports
Houston, Dallas, in Austin, right in San Antonio, in San Antonio,
right, so that before right, I forgot about San Antonio. Yeah,
so of those four, which do you like the best? I have
found after doing this for a long time, that you can make more deals
happen if you really can understand the local market. Right. So, I'm
lucky to live in I lived in Austin for eight years. Now I live
back in Dallas. I grew up in Dallas. So being able to step
focus. There's a lot of people who flip land or who also help or
whatever, and they never see they never meet the owner, they never step
on the property. When you can go shake an old man's hand he's out
of property for eighty years, it jumps you to the front of the line,
right. So I enjoy getting out in the field going to look at,
you know, large ranges that we get to buy. I think it's
actually one of my favorite parts of the job. Job. I don't know,
you know of though, of the life we chose, but yeah,
that's kind of what we're looking for. Sorry, I don't remember question.
Okay, that's good. Just which area you like the best? But I
got it that area like the best is the area that you're closest to because
you probably have the most knowledge. But that isn't necessarily a bar to going
to additional areas. Yeah, right, So do you buy them outright for
cash? Do you get a land contract clows that's closing in ninety days and
then flip it before you even take ownership of it as it were? All
three of those plus conventional financing will do as well. But you know,
I say, we're going to always start. We're gonna try and start with
seller financing. We'll do a discount of cash prize. You know, we'll
kind of put those two offers out and if can't close and the deal still
makes sense to come up, and we're gonna look more towards hard money.
I mean, there's a few companies out there, ares included that like our
whole like half my deals I do with my clients and with my students I
do with my network follow me right, just becauess the margins are so high
and so you know with that where it's it's tough to say, right,
but well we like them all all right. So someone getting into this,
what are the three most important things they need to do before they get serious
about it? Yeah? So, I mean, first I'd say I'm not
a big like invest in real estate with no money kind of guy. Just
unless you got a lot of time or a lot of heart, which some
people do is great. I want, like, I want somebody to have
ten or twenty thousand dollars to start so that they can, you know,
a target three to five different areas, because when you're just starting you don't
know, right, you gotta choose a few areas and hope and a prayer
type deal. Set up two marketing systems. For me, I would go
with mail and text messaging. But I'm not a lawyer, so you figure
out that setback yourself. I'm a retro thirdeen but yeah, yeah, that's
that's like everybody that gets in less I feel like. But and then the
third I would say is you need to be making like fifty off or some
months minimum. Right, you can just do those three steps. I've never
seen that not work to where you at least get a deal and get the
game going right. Okay, all right, well it seems fascinating, So
just tell us how we connect with you on the web, how we get
together with you. Yeah. Sure, if you want to talk to us
someone on our team about investing in land, you can just go to learn
dot Land there is no dot com. Okay, I can't can't get after
us to the domain they you know, they just spot by us or whatever.
But so it's learned dot land dot com. It's pretty much just a
questionnaire on that page. So if you want to chat with someone on our
team, you can do that. You follow me on Instagram on YouTube.
I respond all the comments and I answer them as my DM so feel free
to connect the right All right, Well, if you have a question for
Clint myself, shoot me at email k l at krylts dot com. The
link to clint site is in the show notes to this interview on Financial Survival
Network dot com. Make sure you go there sign up for your free newsletter.
Clint, we'll talk to you again. I want to get more in
depth into how you evaluate deals, how you figure out you're going to make
money at them. But forgetting the taste of it today, I think was
pretty good. Appreciate you coming on and we'll talk to you soon. Thanks,
Terry, appreciate it. Thanks for listening to carry Lets's Financial Survival Network
your solution to today's trying times. For the latest, go to Financial Survival
Network dot com. Financial Survival Network Now more than ever