Land Flipping Pricing- How to Price a Land Market the Free Way

Happy Wednesday, all. It's been a while. Haven't been doing these as much. I have to, uh, it's been getting busy with, um, with soccer and stuff like that, but we should be good next few weeks.

So, I've had a lot of people asking me to do some pricing again. So, I want to do another pricing video, just kind of go over, um, how I price markets a couple different ways. I'm going to show you guys the free way. I'm going to show you guys Land Insights way, just to kind of, you know, get it out there because there are multiple ways. I'm just trying to adjust my camera. There are multiple ways to do it, and I feel it's important to know everything so you kind of can understand why we do certain things certain ways and all that jazz.

So, what I'll do is I'm going to show you guys quickly the, um, like a free way to do this. Pull some data, Redfin, all that stuff. And, you know, if we were going to find a market, I'm going to show you Land Insights. Obviously, it makes this a thousand times easier, and I don't think you should ever skip this step. But sometimes you have to get your first deal. So, I understand that. So, what I want to do is show you like a real quick path to maybe find a market that's free and then, you know, pull data and then price it. So, um, we'll dive right in. Not going to really get into too much, but here we go. Let me just do this. All right.

So, here we are. So, Land Insights. This is Land Insights. We all know what Land Insights looks like. So, if I were to look for a market here, it's actually very, very simple to do it on, um, on Land Insights. Now, you just put in your parameters, you do all that stuff. So, I'll show you guys that in a little bit, but for now, cool thing is you could even price a land in Land Insights now. So, which is even awesome. Um, we're going to use two things, Redfin and Zillow. The reason why I use Zillow for this, this is the free phase if I'm looking to get like free markets. The reason why I'm looking at Zillow is because when I go on Zillow, I could look at the whole state and actually take the state off or move the, remove the boundary and look at everything, right? So, let's just do this.

So, I'm going to take off. Let me just reset all filters. Okay, I'm going to reset all my filters here. So, what I'm looking to print out, I just put Oklahoma in just to get into this map. Now, what I did here is I could look at everything. I could look at where the pockets of activity are all over the country, right? So, I want to deselect all. I just want to go land. Right now, I'm going to put in a couple parameters as a basic market. I want to look at my solds. I want to see what's actually sold recently. I'm going to put some price parameters in here. Actually, I'm going to do 75,000 to 200k just because that's like your best land flip markets to kind of really be in if you're just looking to do a straight flip. Buying for 75, you you would buy something for like around 40k, 50, 40k, 35k, something like that and then you sell for about 75. Or you buy here, buy around 100, 125 and sell for 200. You're in the money in both these spots. So, um, you're profitable in those two spots. So that's why I want to look there. Uh, home type, we got land. Let's look at just lot size. Let's go five acres plus. All right.

So, I just want to see where are their pockets of activity. Where is land selling for? Right. We could zoom in. More stuff's going to show up when you zoom in. You can see there's a bunch of like pockets of hot spots, right? Let me do this. I need to this. I'm going to sold in the last. Let's just do, let's do 90 days. 90 days of activity is good. So you could see like obviously there's tons of like activity. If I zoom out fully, it gets sparse, right? You don't really see everything, right? Once you start zooming in, you start seeing more and more. And then you know, you zoom in a little further and you're like, okay, there's more activity in Kentucky here. Let me zoom in further or even more. Okay. But there's more activity up here. You know, there's lots of activity over here. Lots of activity. Look right here. There's tons of activity right here. So, what this does is it allows you to kind of zoom around. You could find a market like this. Is that how I used to do it? This is how I used to like do it. But then, you know, it takes a lot of time because now I got to go through, I got to figure out my sell-through rates myself, everything like that. But, you know, look at all these. This right here, this must have been a subdivide. You could tell that just because of the clustering and the pricing and all that stuff. Definitely subdivide. Um, but this is how I could find good counties, good markets, things like that, right? Let's just say I wanted to just do North Carolina. Come in here. I'd look for activities. Activity, I'd go, you know, let's look at 30-day. Let's, let's drop it down to 30. Okay. Where's some activity? All right. There's more activity over here. There's some over here along this right here. And then I could go, you know, I could change my parameters. Like I could go, let's go back 12 months, see where it grows to. Okay, so there's more, you know, still a lot of activity right here. Let me zoom in a little further. You know, it just gives you like a good pinpoint, right, of kind of where to go. Right here's right here. There's a bunch of stuff. And then if you open, actually, you could you could do this. You could open. Let's see. Let's see. Let's go to for sales. So, what you can do is you could open a second window if you wanted and compare the two. So, let's just go here. I could do this. And let's go solds. Now, I can just compare. Okay. What's going on here? Where's my activity here? It's the same exact spot. What's my activity here? Same spot. And I could compare and contrast right now. That's the free way to do it. Takes a lot of time. You're going to sit here, you're going to try to do this and like that. You got to go through each market. You got to comb through the data. Blah blah blah. So, it's a lot of work, right? Redfin you could do too. Redfin is more like I can't really zoom out and do that stuff. That's why I don't like using Redfin necessarily for that. I do pull my data, my sold data from Redfin though.

Now, easy way, right? I could just go into here. I could just go county. Let's switch the county and I just want to look for some activities. So let's just say I want to see activity greater than or equal to 15. Oops. Greater than or equal to at least 15. Apply. Actually, let me change. Yeah. Five to I did five to 100 acres. I want to see six month sell-through rate greater than equal to. We'll just put it at 60 for now. At least 60% sell-through rate in the six months. Right? So here we go. I just made my life a lot easier. Right? So now I just found all these markets. Right? Yellow being. Let's just go. Let's change this to my. Let's see six month seller rate. Okay. Siri County, North Carolina. We got Davidson County, North Carolina. We got Person County, North Carolina. We got Hampshire, Western Virginia. We got Ross County, Ohio. We got Lori, Kentucky. Laroo, Kentucky. So, we got tons of markets now because of that. Now, what we'll do is we'll go ahead. Let's just do. Let's check out Person County. Now, I want to see. I'll go into here. I'm going to do Person County. Cheers. All right, let's go land. Let's see what we got over here in good old Person. So we can see for sales, under contracts like that. Let's go filters. Let's change a couple things. Let's do lot size 5 acre minimum and let's do, um, Okay, so I got 38 homes for sale. You can see these are all my Person County parcels. Good pricings, 350s, 239s. I love to see that. That's what I like to see. I don't see any like 40k, 30k, 50k, any of that crap, right? I like to see the big boy numbers. Um, so these are looking good. So, I already like this market, right? So, let's check the solds. Let's do one year. Same thing. Lot of sales, which is good. 83 homes, 83 parcels sold in the last year. Look at this. You got 21 acres. You got, uh, doesn't say tons of activity. Lots of activity. Definitely some demand, which is good to see. That's what you want. So, I already know that this is a market I want to do, right? Very simple. So, it's way easier to find a market and you're going to have a better time finding a market on Land Insights, but you can do it for free. That's what I want to preface. You can do it for free. I just think it's better to do it. Um, I think it's better to, you know, just pay for a tool and just get it done and just work with Land Insights for Land Insights is fantastic. I've been using it since the beginning, since it first started. Uh, okay, cool.

So, what I'm going to do too, what I'm going to take now, I'm going to pull all my data, right? We could break this down into zips. We could break it down into, you know, whatever we want. Um, what I'll do real quick before I go ahead and pull this, I want to do this. This is a good way to check your, um, homogeneous right on Land Insights. We can just check. We go to Person County right here. Oops. Scroll down. Let's go to Person. Okay, so we got Person County right here. Let's see what our genie genie is going to be off because I have such a big range in here. But we could check what our genie score is. We could check how much everything is going for. All right, so I have big disparities in pricing. I can see that already. I'm on five to 10. And you can see like we have, uh, 10 acres or something like that sold for 675. We got up here sold for 80k down here 141, 200. This is a subdivide. We got 79. We got 80. Actually, you know what? It's actually not that bad. Actually, now that I'm looking at it, it's not terrible. This 141's kind of an outlier. I mean, it's got a, it's, it's kind of got some improvements. Beautiful. Beautiful four-bedroom. Oh yeah. Okay. So that's the reason why it's sold for more. Two families. Yeah. Okay. So that's the reason why it's sold for more. It's a nice parcel. Um, it's got some improvements on. So, you know what? We're going to just go ahead and price this as if it's homogeneous. And then, um, we'll take it from there. So, here's 169 homes. I'm going back two years in my data too, just because I feel like it. No, because, uh, the last two years the land hasn't actually went up too much, which has been, you know, it's, it's kind of been staying the same. So that's that. Okay. Let's go. Okay.

So, we're going to go Google Sheet creature. Okay. So, we're going to go here. I'm going to go file, import, upload, browse, upload. I'm just going to upload all that data. Place current sheet. Okay. Go ahead and get rid of this. So, I don't really care about. Well, I'm going to just delete some stuff. So, let's do this first. I'm going to upsize everything so everybody can see a little bit better. We'll go 14. Widen my rows a little bit. Okay. So, I'm going to get rid of this. I don't really care about this. Um, I don't really need the address. Okay. So, let's delete these two. Delete columns. Let's delete this row right here is not needed. Delete row. We're going to change this to acres. We're going to change this to PBA price per acre. So, I'm going to take this one. Move that here. And I'm going to go ahead and take off. Looks like this is a house. Square foot house. Yeah. On a 34 acre lot. What did it sell for? Price 300K. Yeah. So, it's an outlier. So, I'm going to take that guy out just because it's, it's already got a, it's got a structure on it. So, we're going to take off all this. Delete all this source. I like to see. Oh, let me just create a filter. Okay. Source TSMLS. So you can see all these are MLSs. So we could take a look at this and take off the data that's not MLS. Leave it on. Whatever we want to do. I think it's a good idea to take off the MLS. I mean, the non-MLS stuff. But you know what? Sometimes in the interest of data, it's okay to leave it on, too. We just got to make sure there's no dupes. So, we're going to call it currency. Currency data format currency number currency. Okay. All righty then. Then we're going to take lot size. So I got to get acreage. So I take this, I do this divided by 43560. Do that. And then I'll take these. I'll drop this baby down. Okay. Okay. And then I'm going to do equals this divide by this. Okay. So now I got my price per acre. Okay. So pretty, pretty snazzy. Um, okay. So I got some low, low guys, some small guys. So we'll wipe those babies out. Let's delete you. All right. We got 511s. Okay. So, there's a lot of different ways you could do this for pricing. You could go through. I have like formulas set up in some of my sheets. Not going to show you all that today. There's formulas you could set up in your sheets that basically pull all the data and and you know, kind of go through it. I could already see right here, like I'm going to just comb through this real quick. Right here's dup. The reason why I could tell it was a duplicate. Same exact acreage size sold for exactly the same price per acre. Like that does not happen. And one's an MLS, one's a non-MLS. So, we're just going to delete them. 525528594 right here. This is why half the time it's just easier just to delete your, uh, non-MLS stuff. You know what? I'm just going to do that because it looks like. See that? I'm just going to go ahead and wipe these. I have a feeling a lot of them are going to be dupes, so might as well just get rid of them. Okay, so A to Z. Now I got my A to Z. All right. So, I'm just taking a quick peek kind of what our data ranges are. So if I have enough data to support a couple different rows, insert column left. Okay. So what I'm going to insert now is I want to take. I want to do averages, right? So mean, median, whatever you want to do. Um, I'm gonna take, you could do mean, median. The median value is like the middle of the number. You could take the average. You could do, um, whatever you want. I know a lot of people ask, oh, why don't you use, uh, median or why don't you use whatever. They really get pretty much close to the same thing if you're removing data. So, I don't really mind if I do average or if I do mean or median, whatever. So, I'm going to just do median. So, we'll go here. I'm going to just basically pull. Let's just do five acres. I have enough data to do the five acres. And then we'll do. I have enough data to get six. Equals median. I have enough data to do the sevens. You want at least like four or five parcels to be able to really do it like good. So, we'll go 8 to 10, 8 to 9. Okay. Well, 30, 44. Okay. 45. Okay. And I'll go in. Now, just so everybody understands, like this is the exact way I've done this. I've built my business around doing this. I've trained other people how to do this. I've have other people that are doing their entire business like this that are making, um, how much they're profiting six figures a month right now off of this. Like this exact way I'm showing you. There's like really no need. It's super easy. You could do this. Anybody could do this. Um, obviously there's a thousand ways to do stuff. I just. This is easy. You're looking at the real data from a single source that you could go through, hand select, and remove. There's obviously easier ways, but like sometimes taking the the shortcut isn't always the best road, right? If you take the shortcuts for everything, you tend to make mistakes because now you're just trying to hit volume, hit numbers, things like that. You're going to really run into some heartaches when you do that. So, I think going in here, learning a market by actually looking at the data is super important. Um, because then it kind of really, you, you start to understand why this market they want, you know, 100 acre parcels, why, you know, all these things are like that. So, all right, so we can see right here I got some outliers right here. Um, I got a six. Let's take a look these. So if you use the mean, like you can pull out the outliers. I think this, let's just say I want to see how fast it sold. April 10th, April 30th. So, this makes me think it was priced. Something was wrong with this parcel because if you look at the activity, the price change, price change, price change, price change. It's something was wrong with it. That's what makes me think something's going on right here. So, I want to. I'm going to take that one out. Let's start. Actually, let me before I take that one, I'll take this one out because I, I already looked at it. But I want to start looking at this, right? And the reason like this is huge. I really want to start doing this because it's so important you understand the markets, the data, the things, right? What does this market want? How am I going to know what this market wants if I've never been there, worked it, or anything like that, right? It's by looking at the sold data. That's really what's going to tell me what the market wants. So, look at this. Road frontage, hardwood throughout. Um, approved for a four-bedroom per permit, blah blah blah. So, just right here, this is a huge like, wow, holy. Okay, great. If I'm looking at the difference between making, you know, selling a parcel for 707,000 or 9,000 an acre to 12,000 an acre. What am I going to do to do that? Right? Look at these pictures. We have a improved like a road like put in, looks like driveway, something like that. Property is nicely maintained. Yeah, you got a nice little driveway, cul-de-sac kind of thing coming up, all that stuff. And it's a nice parcel, right? It looks pretty good. This is I guess this is your road and then it comes out and then you're one of these lots right here. It's this lot right here. Okay. So, it's a nice looking parcel. Um, so it's almost they did a subdivision right here. You can see. Um, and they got their per test approved, right? So, neighbor's quite a selfish, blah blah, part owner, 25 dorm road frontage, beautiful har, four-bedroom permit. Boom. So, you get a per test done and you have some decent improvements or the lot looks nice, you're going to sell for a higher, higher price. 14,000 an acre. Okay. Or 12,000 an acre. So, right there, that's that's good to know. Right? Now, I'm going to do this because I want to cut this out. I'm going to take this one out. I'm going to delete that. And the reason why is I don't want to price my whole market off of one set, one piece of my data. So, I want to look at a couple of the other ones and also see what they're kind of doing. I have a good feeling that a lot of these are in that same little subdivision. Yep. Like I said, so they commanded a higher price exactly for this four-bedroom perk test, blah blah blah. So, there's a reason why they sold for more. I'm willing to bet all these are the same. No, I was, I was wrong on that one. Okay, so waterfront parcel, same thing. Nice parcel. So, check this guy now, too. Okay, it's got a little cabin on it. Not that that really does anything, but it shows it's got something. 1,000 ft over 1,000 ft of pic road frontage. And let's see how fast this baby sold, dude. Three days it went pending. Come on. That's awesome. That's exactly what you want. This is a great market. Okay, I'm going to leave my pricing there. About 10k an acre. It's in the middle of everything. You got sevens, you got 11s, you got 12s, you got nines. I'm good with that, right? I think 10's good. Now, let's check this one. So, I got a 4K. I'm looking for my lows and my highs. Really, the other stuff I'm not too worried about. Okay, so this is my low. We already looked at this one. So, let me take this guy out. So, 8,300. You want to kind of get like a good cadence down, like a good cascade down. So, 104, you want like 102. So, I want to look at like, am I too high here or am I too low here? So, let me look at some of my other ones. 6 acres, no restrictions, part of a judicial sale. Okay. So, that's like kind of like a, um, it's an outlier. Okay. Looks wet. This parcel make two large lots. Okay. What I'm going to do actually is I'm going to combine 10. So, okay. So, what I did is I combined it to five to six. I combined them. So, 9200 right now. Super high outlier. We looked at this one before, so I'm just going to take that one out. I know it's a really nice lot, but it's got some really good improvements, and that's why it's nice lot. Um, let's check out this 12K an acre. Why is this selling for 12K? Nice parcel in a developed area. I mean, simply put, you look at this. You got good road frontage. Yeah, you got power lines, but look, you got this nice wooded parcel in a developed area. That's a great. That's That's a great parcel, honestly. Buildable, Brighton, Brocksboro. Yeah, obviously it's going to sell for a little more. So, no comments, man. You guys are lacking today. I like when I could actually talk to you guys and have comments. Come on. It's like you don't love me anymore. What's going on? All skinny parcel. Nice, nice pictures and like that. They did a good job. Uh, that's probably why it sold so quickly. Let's see how fast it went. So, listed active, went pending and pretty damn quick. Um, yo, what up, man? How you been? Uh, so went pending, but then it got relisted and it went pending again pretty much a month later. Nice parcel. That's interesting. It listed for 59. It sold for 95. What's up, Don? Yeah, no problem, man. I love doing these. I, I think I do like one every two months or something like that. Um, very interesting. This actually sold for more than the asking price, so they probably listed it super low. Uh, I like that they did all this stuff. I wish it wasn't as grainy. It's kind of a shitty picture. This looks cool. You know, that's nice little feature they did. I wish they had more pictures of the actual parcel, but overall, not a bad property. Sold pretty quick. That's good. Okay, so that one's good. Okay. So, this, this range is good. I mean, we're up a little bit higher. You know, sometimes I'll just do this median. We'll go from here to here. I just want to check something. Okay. Yeah. So, I'm going to delete that. And I'm just going to do this because it pretty much came into the same number. 16. [Music] Okay, 92. Okay, that's good. So, I'm going to do that. So, I got a huge difference right there. So, yeah, I'm basically just going to do this. I'm going to go down this line. I'm going to check out all these parcels. I want to see what they look like. Okay, we got a gate. We got something going on here. I don't know what is this. Uh, unfortunately, we don't have enough data gener. Oh, that's fantastic. Hey, Dennis, not a pricey question, but what's your opinion on buying flow lots with quickly deeds I come across? So, yeah, I mean, if you have a quick lane deed, you just got to verify everything was good and you just want to get it. You could like change the deed, um, to like a warranty deed if you're buying it. It's not a bad idea. You could definitely do it. It's not the worst thing if you're getting it cheap enough. Um, and you could sell the builders all day long. Quick lane deeds aren't the worst thing. You just got to check your title, you know, check your title, make sure everything's good, run it through title. Don't buy anything like self, don't self-close anything essentially. All right. All right. So, we're going to just go ahead and take this baby off. Seems like a kind of a dump property. All right. So, this is point made to here. I'm just going to go down here and I'm going to extend this down all the way down to 22. So, as you go, like, you kind of start seeing like, yeah. So, median is right there still. Okay. So, I think we're good on that. It's probably more accurate if you do this manually, but eventually will you use, you can, you could absolutely use AI. There's, and that's the whole thing. So, right now on Land Insights, when you go into the data tool, it gives you the pricing of what every individual parcel is like worth, right? That's based on like a couple different comps and everything like that. However, their thing works. There's so many different ways to do this. I don't think it's a bad thing to get your hands dirty in the beginning when you're trying to figure this out, right? I honestly, like, I still download the data from Land Insights with the pricing and everything like that. I'll still go through a manual, do it. It does not take that long. Honestly, you could, you could pull the data, overlay it on a market in like less than 30 minutes when you're quick at it. I'm slowing down a little bit just because I'm trying to talk through stuff with you guys, but if you're by yourself, pop in some headphones, put on some music, watch a TV show, whatever you want to do, and just freaking run through this. It'll take you like no time at all. Honestly, it's not that bad. Wow. Gorgeous, gorgeous parcel. So, the reason why this sold for more is just this is perfectly cleared pasture land, right? So, this is ready to like build, ready to farm, whatever the stuff. Yeah. See, Land Insights doesn't remove off-market sedukes. That's a big thing, too, because now you're taking, let's say you have a bad, a bad parcel or something like that. So, this is one caveat I have to using like tools like like an AI tool, okay? It doesn't know like one thing from the next. It doesn't know if this was a good parcel, it was a bad parcel. It doesn't know if this was that or that, whatever. Doesn't remove all that stuff, right? So, you could be pricing a a parcel when the best comp was like four mile, you know, you know, right on the same street, but it was a completely parcel different than what you have, right? So, now you go ahead and price this parcel or maybe 10 or 20 or 15 parcels that are in that small vicinity with that one bad comp. You send out those letters. Now 20 or 30 people got the bad pricing on their on their on their parcel, right? Well, let that happen 10, 12, 15 times. Now you have two, three, four, 500 letters going out per mailer set that are mispriced, right? Because you're just trusting an AI comp tool or whatever the case may be. There's nothing wrong with coming in here and just saying, "Hey, what can I do to improve this? What can I why can't I just do this manually?" Right? There's so many other ways that AI shortens up your time and whatever. Like, I don't think it's a bad thing just to learn how to do this stuff manually and then do it manually for a little bit and figure figure it out. Um, and then split test. Hey, let me try out, you know, that thing versus this thing and see which one's better, right? I'm not saying it's a bad thing. I'm just saying me personally, I like to look at the land. I like to see what what's going on. What improvements on comps are people looking for? Like I know for a fact if I get pasture land like this, it's going to sell for 15k an acre, right? Would I know that just looking at a data set and saying like whatever? No, I would have no clue. Right? So, I can see these right here. See how these three are probably all. Yeah. Track B, track C. Yeah, they're probably all the same exact. I'm going to delete these two. And the only reason why I'm deleting them is because I don't want to price my whole data set based on them, right? Not everything looks like that. What I'm mailing does not look like that at all. So, I want to make sure I'm taking those out because that's not what my parcels are going to look like. Right now, AI doesn't know that. AI has no clue that every other parcel doesn't look like that. It just looks at the numbers and it says, "Okay, this is what the price is going to be." But I could come in here and say, "No, that's not what every parcel looks like. I know for a fact that's not what the parcels look like." Partial gear, no restrictions. Four-bedroom perk site. So, here you go. This right here, um, we know if it has a four-bedroom perk site, I'm going to sell for more, right? This has 13K an acre, right? Um, so by doing that, I could take this off, right? I'm going to take you off just because I know it's, it's the parcels I'm going to market to aren't perked, right? So, why would I price everything based on that? Here's another one. 10 acres, four-bedroom perk site. Okay, so I'm seeing a lot of these perk sites. What it tells me, perk my stuff. Perk almost everyone because that's what people want in this market. If you want to sell for a premium, right, you got to perk your properties. And if you perk them, you're good to go. Most other markets, I would not be perking. You know, I would just go ahead. I would, you know, do it only if I needed to. But like this is one that it's like, you got to perk it. Okay. And I would have no clue, no idea doing that if I just let some comping tool tell me. 10 acres. What? Septic permit. Boom. Three-bedroom house. It's got another permit. So, what I'm trying to do is get this down to like 9300, 90, you know, around the 9200 range. Um, I'm not trying to like do it just by doing it. I'm trying to see like, okay, so what improved properties can I remove to get my pricing where I need it to be. Gorgeous. beautiful parcel. This is like ideal pictures right here. Look at that. Like how nice does that look, right? I wish there were some aerial views, but like man, just walking onto that parcel, it just you just feel like just at home. Such a great picture. Private road, homestead, minimum horses allowed. Boom. Everything you want, it's all right there. I love it. Beautiful, beautiful piece. I'm going to take it off, though. Why am I taking that off? Just because I don't want to price everything with that. So, let's check this other high one. Okay, so this has a water feature. Any water feature properties are going to go for more, right? Site-built modular four-bedroom perk. Boom. Look at that. You got to get it perked. Got a perk in this market. I would have never known that had I just blindly went into this, right? And just let a comping tool do it. Yet again, another water feature. This is the one. Welcome to the perfect place and beauty. Approximately 10 acres. Oxer perk test improvement permit done. See another one. And I'm going to guarantee. Let's look at some of these ones that aren't. These probably don't have perk tests. Oh, okay. I, I, I see. I've already shot myself in the foot. Yeah, there you go. Look at that. That's a perk test. Plenty of room. So, no perk test. Sold for 7,300. This one 10K. Let's see. 10K perk test. This one right here. Does this have a perk test? Just 30 minutes highly buildable, not within a flood zone, street water, sep. Okay. No perk test sold for less. 80, 8900 an acre. So, anything that sold has a perk test has been selling higher. Three-bedroom August 23. Okay. Perfect canvas, your dream home. Okay. So, yeah, it's definitely worth perking in this market. Okay. So, 8700. I already like this 8700. So, I don't really have to mess with that. I like the 8600. I like the 8400. Let's check this big one out. Why did this sell for so much more? Okay. Instantly remove this 34K an acre. Why? Okay. The reason why this sold is they just did like subdivision back here, I guess, or something. I don't know what's going on here. Oh, okay. So, they have it ready to go like ready to like build on all these lots. Okay. So, we're going to knock that guy out. 7500. So, when I see something like that where I drop my pricing down, I'm going to go ahead and pop off this. So, lot one, they just did a little subt manufacturer AT 1210. Okay, so it's, it's already approved. Okay, so we got 8500, 8700. Okay, I'm good with that. 7500, 10K. This looks like I might have to come up. I'm 5511. I'm okay right there actually. 5250, 6. I'm high. Why did this sell for so much more? 107 acres. You got pasture land. You got some silos on it. All that stuff. That's There you go. That's your improvements right there. Let's just delete you. 8700 improvements. Okay. Now, I know this market. I actually have done deals in this market and I've done really good. I did a deal, um, in this market where I bought for 140. I bought it for 145 and I sold it for 365. Yeah, I bought for 145. I sold it for 365. This exact market. Um, it's a great market to work in. Honestly, I like it. I love the land out here. Like if I were to just pick one market to work, it would be this one. I, I love Person County. It's gorgeous. >> Um, let's just see this one. What's up here? What am I looking at? Where's the actual? This is. Yeah. All right. So, that's that's pretty big. Improved parcels. Let's cut this. Let's paste this. Let's delete this. Sweet. Okay. So, there we go. I got 92, 91, 92, 59, 93. Same, pretty much the same thing. 87 for that. 85, 75, 7000. Okay, cool. I like that. Now, go let's go to Land Insights. Let's go to here. Let's go to data. Let's go to map. I'm going to put in. Oh, let's go here. Person County, North Carolina. Okay. So, I'm going to take in Person County. I'm going to go five. We'll do four to no max. Let's go 5% improvement max. Uh, actually, let's go 15%. Let's go 15%. What was this at? Five. Okay, it didn't really change much. Keep only vacant land right here. See, keep only vacant land. Um, remove bad slope. Oh, wait. Huh? What just happened? Offer too high for retail. He counter 750. Data saying he wants to sell or retail and say remove. Yeah. All right. That's where I goofed. Okay. Remove landlocked. Okay. Remove HOA. Let's see if I keep the landlocked. Let me just see. 2475. So, there's a, you know, removing your landlocked, keeping locked. You know, sometimes sometimes like this is the other thing where I scrub manually. So, I would I used to scrub manually. I don't do it anymore. Um, used to scrub manually and I, it's not that I don't want to. I still could. It's just like it's okay to, um, I actually already have all these parcels, but, um, I already know which I've, I've done Person County a thousand times, so I know these areas already, so I could easily, I already know which ones are the good ones because I've categorized every single piece of land in North Carolina. Um, so I could tell you exactly what everything is. Um, but yeah, so here like these sometimes it's okay to leave these in. The one deal I did, you know, the big deal, well, not the one deal, I've done a lot of deals. The big deal I did in Person County was a landlocked parcel. It would have been landlocked. Every every filter would have removed it. So, it's kind of like, man, maybe I don't want to remove them, right? Maybe there's good parcels that I'm missing. So, I'm actually going to keep them in here. So, let's go. Max flood lands coverage 25%. I'm not going to put a minimum. I'm going to take out duplicate owners. Okay. See, look at look how many I removed that. Analyzing a deal when it's already at the right buy price. Okay. Yeah, I could do that. Um, yeah. Yeah. Actually, I have some leads I got to look at, too. So, I could do that. Um, out of state owner, out of county owner. Okay. So, I want to take. You could take out like exclude corporate owners. So, that drops off a lot. You could take out inter-family transfers. Let's take out. I like to have minimum ownership of at least, uh, so let me do this. Let me show you guys this. If you guys haven't seen this thing that I got right here, right here. Seller avatar. Okay. So, which I have. I people I need more responses. So, I don't know why nobody's. I got to get more responses. Average owner, they've typically owned it for 5 to 10. So, I want to go back here. When I go to pull my data, I want to look at this and I want to say 60 months minimum. So, let's go 60. Let's go. Let's go. Actually, let's think about this. Think about this. Um, we're in 2015. So, I want to make sure I'm buying parcels that were bought in 2019, right? So, let's say 72 months. That puts me right back 2019, six years. So, that puts me right there. Uh, let's change that. Let's just check. I want to check 84 months. See where that puts me. 1300 parcels. 72 months is good. Okay. And open lean skip tracing. Why don't we just skip trace it? You could do KMLs. You could do all that stuff. So, get conser. Might as well. All right. See if I have enough credits. Yeah, you could use the same list for cold calling, same list for texting, whatever you want. Doesn't matter. So, what I do, like I kind of do it in a backass way, but I mail everything. I, I'm a very simple guy. I like mail. It's so easy. I'm mailing it out. I don't have to worry about like keeping a lead warm for six months or anything like that. I like getting a call. I know it's priced, right? I take the call. I talk to the seller. We're pretty close on price. And I say, "Okay, great. Here's what I'm going to do. I'm going to go ahead and send you a contract. We'll start a due diligence once the contract's signed and then we'll go from there. If everything goes great, we're going to close this thing in 60 days or less, right? Sometimes you close in 15 days. Just depends. And it's just so much easier not dealing with stuff. So, if I'm texting or cold calling, you're not going to get somebody off the rip that's like, "Hey, you interested in selling your land?" They're not going to be like, "Yeah, sure. I'll sell it to you today." There's no one call closes. I'm very simple. I don't have time to waste my time doing that. There's people that make a ton of money with texting, ton of money with cold calling, and that's fantastic. I love it. Um, it's just not for me. I'm That's just it. I'm I'm simple. What can I say? So, I don't necessarily want to do it, but I, you know, I, I give what I do, too, is I give people my data and they go ahead and they'll call it and we'll, you know, I'll take a little chunk of deal. So, I've already priced everything. I've done everything. Um, they just go ahead and call it and when we get it, they just get a little piece of the deal. I'm fine with that. I do that all the time. Okay, so here we go. So, this is our data, right? So, we're going to go ahead and we're going to go create filter. I'm going to go to format. I'm going to go ahead and freeze one row. Okay. So, here we go. Calculated acreage A to Z. Now, here's what I want to look at. I want to look at what their AI value is, right here. Okay. So, there's the AI values. I'm going to cut these. Cut. Where's my acres at? Okay. So, I'm going to insert left, insert left, insert left, insert left. So, I'm going to paste their data right here. Paste. Where the heck did it go? Come on, dummy. Okay. So, there's our market values. Now, what I'm going to go ahead and do, I'm going to do EPA price per acre. I'm going to do market price. I'm going to do my market price and then I'm going to go ahead and do insert a column to the left offer. Let's do 35%. Here comes the left. Offer 65%. Okay. So, I'm going to just do a quick thing here. So, I'm going to take my price. So, I'm going to grab this and I'm going to go ahead and drop this here. The heck? My copy and paste is really fighting me today. 92 copy paste value. Okay, let's go ahead and make everything a 13. Okay, I just. Yeah, you could totally do the chat GPT, but I honestly I have so much trust issues with chat GPT and me on so many things that I just stopped. I can't do it. Okay, so I'm going to take this times this. So, I just threw this down the whole way. Um, it's not exactly right, but here's what I'm going to do. Ready? So, you ready for this? I don't. I'm going to take the calculator out. I don't trust the calculator anyways. And it's just another column I don't need. Uh, I don't, you know, whatever. So, we'll go 10 acres. We'll go back here. What's my pricing on this? So, 10 acres. I went to and we could leave it. We could leave that 11 acres. We dropped to 80 741. So, I'm going to just feather this, right? So, 11. I'm going to drop to, uh, let's, let's pull it midway. We'll take out the 01. So, I'm going to just pull this down. Some right around here. I'm going to drop to like 87. What was this? 874, 444. So, I'm just going to pull this down a ways. And then I'm going to drop it down like a little bit more. I'll drop this down like 85. There's no exact absolute science to this stuff. So, it's just about getting some volume out there. 83. Okay. So, when I hit 20s, when I hit 20 acres, I'm at 7500. By the time I hit 20. All right. So, I'm going to drop this down right around here. We'll just go to 75, 43, 22. Now, I'm making up some numbers here. I'm not going to be perfect. I'm just trying to feather this down. There is actually a formula you can do this. I'm not going to show you that today, but formula to like cascade your numbers down. It works. It's fantastic. It does make this a hell of a lot easier. You could do that. Anybody could do anything. So, we're going to drop to 70, 78, 708. Our next drop is going to be a 59 at 31, 59. Okay. So, actually I was supposed to drop this to 59, 85. So, let's go 64, 35. Drag that up a little bit. Okay. 59, 85. We'll go to the 50 with this. And then we go to 52 at 40. Oops. Now 50. We drop down again. 50 to 50. All right. So, basically, yeah, we're going to just keep cascading down. Essentially, that's pretty much all it is. I'm going to get down to 4100. So, we'll drop.

This down to 45. 30 to go ways and we'll drop it down to 4,100 like that. We'll throw random numbers in there. All right. When we get up to the hundreds, I want it to be in the hundreds. I want it to be at around 3,900. Just go right here. 3904. Yep. That's pretty much all you're done. It's super easy.

Okay. So, let's just compare our numbers to their numbers, right? So, here's this guy. We got a 14 acre. I'm saying my price is 119. They're saying their price is 56, right? Let's take this property. Let's comp it real quick. Imagine this a lead that just came in. Okay. So, location, APN, person, county. Okay. So, here's my parcel now. Something. This is landlocked. Looks landlocked. Might not be. Got some trails coming through here. Bad example. Remember, I didn't remove landlock properties here. Okay, so this one right here, it's got a road coming in it. So, this does have something going on in it, right? It does say it's landlock, but I don't think it actually is. Okay, so we got that. That these are my point being. I want to find a good one so I could actually show you. I'm going to mail these as landlock parcels. You'll see.

All right. So, here's this. I'm going to take a local address. This is the reason why I'm going to take a local address. So, I want to look at this right here. Okay. Take the local address. Click this. There my homes for sale sold last two years. Home type land. Done. I want to see what land is sold. Right. Right here. So you got one down the street for 26, 29, 130, 12 acre lot, 130, 185. So here's my problem. It's pulling all these smaller parcels stacking them against it and look at all these parcels around the area. So I priced this is exactly why I do this manually. I priced this at 119. Okay, that's what my market value is. So, my offer price is going to be way less. I didn't do that yet. Um, I could do that real quick, but uh, okay, I priced this at 119. Land Insight said 56,000. Why am I twice? Right. Um, why am I twice the price of them? Right. Well, what's happening is this. When I look at the data, when I look at the actual comps, right, I'm not looking at these 26s, 29s, cuz they're not they're not comps to me. They're 1 acre parcels. That's not a comp. Okay? That's not going to do for me. What is a comp? This 130, this 185, this 170, this 144, this 98, all that stuff. So, what's going to happen if I just throw out a 56k offer, a $30,000 offer or less than that on this parcel? I'm going to get on. Right. So, that one right there, I'm good. Land insights bad. And a lot of these are like that. So, this is why manual pricing for me, it just works better. Like, it really does. Like, here's one there. I said 103, they said 107. And you know what? We're probably pretty close. Um, there's a lot of these 42s and stuff like that. It's pulling data from all kinds of things, right? So, I'm not going to trust the the AI data. Like, it just to me is not worth it. The extra I started doing this when I was at 39 minutes in the video and I priced it already and I'm at an hour. So, it took me an extra 20 minutes to stack my data and do that.

Now, here's my offer prices. So, I'm going to send a range offer equals market price this times .35 and equals this times .65. So, these two I'm going to those are my market, those are my offer prices right here. So, I'm going to offer, hey, I'm going to be able to pay you between 13 and 24,000. I'm actually not going to be mailing anything that has a market value less than like 75,000. So, like pretty much here, I'll probably do I'll probably do five acres and above just because if I get one, I buy it at 17, I'd still sell for 50. Um, but yeah, this is this is the way I do it. I don't care. I'm I'm going to do this forever. Yeah, there's always going to be better tools that make it quicker, but at the end of the day, like, am I actually making it quicker? Am I going to make more headaches for myself? Yes, some are close, but a lot of them aren't. You know, this takes it took me an hour, not even to price a data set of 1300. In this data set, there's probably at least one deal, right? I'll get four or five calls out of it. I'll get one deal out of it. And then boom, I made money.

Now, here's here's the big big things, right? I priced this at 301, they priced it at 221. Who's better? Let's just check. So, this looks landlocked, but it probably is not. See, it's not landlocked right here. See right here? Land locked. Okay. What's this road right here? You see that? That's your access road that cuts right through here. Okay. It's not landlocked. This parcel is not landlocked. Let's take this. Let's go. Filters 445. One sold for 47 acres, 445. Got 750, 240. So I'm already looking at this like I'm in a better spot. So yeah, that's pretty much it. Um, that is the data. That's how you do it. That's how you price money. That's how I price it. That's how I'm going to go through this and do that. Like, it's actually not that hard. It took me an hour to price 1300 parcels. I'll probably rip at least one or two deals out of this. No, no doubt. Absolutely. Um, hour of your time, sit down, have a beer, and just freaking do it. Why not? It's It's so like numbers driven. And then I comp. I'm gonna do. I'm still gonna probably spend about 15, 20 minutes just going through. I'm gonna pre-comp a couple of these deals. Um, and then that's it.

Did you learn how to do this by joining Leah? Yes, I, you know, in a way, yes, I did learn how to do this by joining Leah, but I also taught myself. So, Sar and I did the 90-day zero to hero where we kind of went over all this stuff and he hand taught me a bunch of This is before Land Insight existed, so I did everything manually. I'm just one that still does everything manually. Um, I like it manual. I think it's a better process. Um, there's certain things that AI is fantastic for, but there's a lot of things that manual is just the way to go. It really is. So, everybody has their own opinions and you know what, there's people that have much bigger businesses than I do and are crushing it and absolutely doing fantastic, but you know, everybody's different. So, all right, guys. I'll see you later. I got to get the kids. Have a good one.