Transcription
All right, everybody. Welcome back. In this video, I'm going to be talking all about market selection and really simplify it.
Market selection to me is something that a lot of people get caught up on as they're first getting started in this business. And for this episode, I'm going to be talking to a lot to people who are just getting started trying to choose their first market to do land flipping in. But that being said, if you've been doing land flipping for a while, you want to simplify your market selection process, this video is going to help a ton.
So, we're going to go through some of the steps for what choosing a market looks like. So, let's get started here, guys. The first thing I want you to do is find the biggest city that is near you. So, what you're going to do is essentially let's find the county with the biggest city near you. So, this let's say this is a big city. It can be Atlanta. It can be Charleston. It can be uh Charlotte. Doesn't matter. A big city near you. that that's how that's the simplest thing. A lot of people try to start this business and do it across the country and I've recommended that a ton of times to people, but I want to simplify it for this.
So, let's say this is a county with a big city right here. And then around that county, you're obviously going to have other counties as well. All right? And what happens in these nearby counties is a lot of times these nearby counties are really expensive. So, you're going to have these counties that I call one county removed from the big city. So, all of these counties are one county removed from the big city. This is not the best place to start doing this business. And the reason being, there's a couple reasons. Number one, these areas can get really, really expensive. Um, it's hard to acquire. There's a lot of realtors in these areas. There's more competition. That's why I like to start a little farther out. So, a lot of these areas, and especially where the big city is, you're just money, money, lots of money. These are expensive. Can you make money in these areas as you're getting more experience? 100%. But today we are talking about county selection for beginners, people who are just getting started.
All right, so let's let's keep putting some counties on here. And counties can be weird shapes like this. Um, we're a little bit farther out from the city now. We have some counties. That's kind of odd how I did that shape, but that works. All right, so now we're two counties removed. And these probably should be a little bit smaller, but let's just say it um for purposes. These are all two counties removed from our big city. All right, now we're getting into a spot where you can do some deals. All right, so let's just add a few more and we're kind of getting that three county removed. I'm not going to do all these. Um, but let's just go like this. All right, so now we have about 10 11 counties that are two or three counties removed from the big city. This is where you make your money. So now we have again, we have these counties that are removed. Let's not even worry. This section right here that is one county removed. This uh this picture is looking interesting on here. These uh these counties that are one county removed or in the big city aren't the best spot. We're going to focus on all of these guys. This is where you're going to make money is these areas. But there's some criteria.
So you get this list. Let's say you have just Butler County and you have Warren County and you have I don't know. I just kind of trying to make up things. Owen County. just all these different counties. You get a list of these counties right here and we're going to run some tests on them. What you're going to do is if you have Landportal, it's a great spot to get a lot of this data in the market research section of Landportal. So, there's some criteria we are looking for. Number one is the days on market and this is days on market for all land. And what we want this number to be is I want it to be between like 40 to 100. All right. So that's basically saying land in this area is selling between 40 to 100 days. We're doing it for all land. Again, you can get get this data right on Lamporter. Really, really good data within it. Um, the next thing, and I want to keep this really simple for you guys, because like I said at the beginning, county selection, market selection is something a lot of people really, really overthink, and there's only a few data points that I personally care about when I'm looking for a new area.
The other thing is price per acre, 5 to 10 acres. And what I want this to be, what I want this to be is I want this to be between, let's say, 5,000 an acre to 20,000 an acre. 20,000 an acre is getting a little expensive. Again, you can pull this data in Lampport. And a lot of people ask me like, why do you care about this? The reason being is once this gets above $20,000, like we're in a really, really hot area, it's tough for new people to do deals in these really expensive areas. Let's say five acres is going for $24,000 an acre, which is, if my math is correct, that's $120,000 for five acres. That's really expensive. That's a hot area. Um, there's probably something else going on. A lot of times you're going to see those numbers in this area that are much closer to the city. But from time to time, you will see these really expensive areas that are outside um farther from the city, two, three counties removed like we are doing here.
So, this is where I want you to start. A city near you, the biggest city near you, one county removed, and the biggest city. Let's say we're not going to do that. That's too close. We want to be 60 to 90 minutes, even probably 90 to 120 minutes from the big city when we're doing this business. And then you're going to go on Land Portal and you're going to pull these two numbers that are really, really important. Days on market 40 to 100. Price per acre 5,000 to $20,000 for five to 10 acres. This is going to get you in a really good starting point.
Some next steps you can do after you have because you might end up coming up with three or four of these 11 counties like, okay, this makes a lot of sense. And there's some other things you can do, but like I said, I don't want you overthinking this process. It is not something county selection is something that it's important, yes, but it's often something people take one, two, three weeks on when in reality it should take you one, two, three hours to do. And that's the reality of it because this business can be done in any county in the country. These areas that are around the big city, the big city, you can do deals there. It's just not the ideal spot to start. So, I don't want you overthinking this. This is why I really simplified it in this video. Days on market 40 to 100, price per acre, 5 to 10 acres, $5 to $20,000.
So, a couple other things to think about as you're doing this is like how much data are you getting? So, a lot of times you want your first marketing campaign or you want a marketing campaign to reach out to about a thousand people. So you can look up that like okay maybe you have four counties that fit um and a couple of counties you don't want to target because there's not enough data you're just concerned about it like you can look at that for sure you want to make sure you at least have a thousand data points it's a good starting but you can combine two of the counties as well.
The next thing I want to get into is how do you select an acreage to start? I honestly don't even want to give you data points on like what you should do to select an acreage if you're first getting started in this business and it fits these two criteria points that we talked about. Do like 2 to 20, 2 to 30 acres. It's a good starting point for getting deals. All right, so that is essentially how you choose a county. And again, this is not just for beginners. This is for someone who might be overthinking this process, who's been doing land for a little bit.
The next thing I want to get into is how do you schedule your marketing? So, you're choosing these counties. One thing I really like to do when I am choosing doing county selection, I don't want to do county selection more than one time a month. And that's what I suggest a lot of people to do. So instead of choosing a county for you to mail out next week, choose a county for you to mail out or text out or however you're marketing, choose a county, choose counties for the next four weeks, the next six weeks, maybe even the next eight weeks. For us, when we're working one-on-one with people, I love to have county selected honestly for like the next three months where it's for me personally, I like to be able to turn off things where I don't need to think about county selection for three months, then you do it again. And you're literally doing county selection four times per year opposed to you're doing it for every single campaign. You can make a really simple marketing calendar and we provide one to a lot of our stu to our students is just a calendar for when marketing is going out so you can stick to it. Because like we've said so many times, one of the biggest hiccups in people being successful in this business is inconsistent marketing. They send mail, they send texts one week and then they like, "Okay, I'll do it again next week." Then things get busy, they skip it the following week, and then they're all of a sudden three weeks separated with their marketing and their deal flow really gets hurt. If you have inconsistent marketing in this business, it's going to lead to inconsistent deals, which is going to lead to inconsistent profit, inconsistent money coming into your bank account.
All right, so let's get to our calendar. I'm going to actually show you how you do with the calendar. If you guys are listening on Spotify, I'll try to talk through it. There's probably a better view and experience on uh YouTube, but I'm going to walk through this, talk through it. So, we have a calendar here. Monday through Friday. Don't worry about Sunday or Saturday. That's off the screen somewhere. Monday through Friday. You need to determine like how often do you want to send marketing? That's the biggest thing. Like, how often do you want to send marketing? What we literally do with our business, with our students business, is like, okay, you want to send it on Tuesdays or you want to start the week with marketing, let's do that. Some people even do it twice per week. So, what you're going to do, like, let's say I'm going to do it every Monday. And you're literally going to put on your calendar. Um, you want to put more than just um I'm I'm sending mail. You I I'm sending text. Maybe you're going to do 20,000 text to X county. And you want the list already made. So, it's really going to be that. And maybe you're sending a thousand mailers as well. thousand mail. Let's just say dot dot dot. And you're going to be this specific on your calendar. You want to work ahead, guys. This is really, really important. Your business is nothing without getting marketing out the door. You are not going to get leads. You're not going to get deals. Marketing is the most important thing in getting deals in this business. Like, you got to be good at sales. You got to be good at this other stuff. But if you're not getting leads, you cannot do this business. It's not going to be successful. And that can you can do marketing in any way, but you just need to get leads coming in. And that's why a marketing calendar is so so important.
Let's say the next Monday. Again, let's say we're planning the month ahead. Like right now, let's say this is um November. It's November right now. And I'm planning for December. This is my December calendar, let's say. All right. And then I'm going to be writing out like, okay, maybe the next Monday I'm doing 3,000 handwritten mailers. And you can do all this on land portal. handwritten mail. And then you always put the county uh county. I'm just going to write county there. And you're going to be that specific. And you're just going to keep on doing this week after week. But schedule ahead because you need to be able to predict in your business, guys, what kind of leads are having back, what kind of deal flow. And as you get into this business, I'm going to do an episode in the next couple weeks on KPIs, on key performance indicators. You need to understand like, okay, if I send 3,000 handwritten mailers, I'm gonna get 50, 100 calls. Like, you're going to get a lot of calls with these handwritten mailers. And then you got to understand like, okay, from those calls, I'm going to get 10 really qualified leads. From those 10 qualified leads, I'm going to get two solid deals. And that's how you need to understand your business. And like I said, future episode, keep your eyes out for that. I'm going to talk all about KPIs in the business, key performance indicators, and how those really drive your business and helps you scale.
Other than that, guys, appreciate you watching all about market selection today. Like I said, if you are a beginner, hopefully this was helpful, really helpful, and can kind of get you on to choosing a market. If you're more experienced, you want to simplify things, this uh is a definitely a way to simplify your marketing calendar, choosing a market, market, everything like that. Hit the like button below. Leave me a comment. Let me know your thoughts on this marketing strategy. See you next time.