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Land Flipping for Dummies
Seth Williams is a land investor and residential landlord, with nearly a decade of experience in the commercial banking industry. He is also the Founder of REtipster.com – a real estate investing blog that offers real-world guidance for real estate investors.
Seth got into blogging due to being inspired by none other than my favorite blogger of all time Pat Flynn. At first, he wondered how Pat did such an amazing job on his blog when the content was available to the public free of charge. Later he learned how Pat monetized his blog which gave him the time and resources to produce top quality content for his readers.
As a HUGE fan of the REtipster blog myself, it is abundantly clear that Seth has done a great job in following Pat’s example by creating top quality content for his readers.
Seth mentions that at the time he decided to do the blog, he discovered that there were few good quality blogs out there that were tied to real estate investing specifically. His vision was to create something that would give the reader the whole picture, all the facts, therefore, empowering them to become better investors.
As a land investor, Seth says that his most valuable data source is the delinquent taxes list. In this list, he finds property owners who are behind on their taxes. Many people might think Seth would be interested in the tax deed, to the contrary, he uses the tax arrearage as a gauge of motivation (pain if you will) to find motivated sellers. By focusing on finding properties with problems, he has a “baked in” audience of motivated sellers.
As we have discussed in previous episodes of the Cash Flow Guys Podcast, making offers to unmotivated sellers generally proves to be a huge waste of time, Seth agrees, which is why he uses data points such as tax delinquency to find opportunity.
Later in the episode, Seth offers a refreshing approach to some of the pitfalls associated with Seller Financed deals. In many cases, due to the lower prices of his properties, he tends to lean more towards cash sales or contract-for-deed scenarios in order to sell his properties.