This week we get together with Mike Marshall of Tolosa Property Group to discuss land flipping. Mike has considerable experience working with land investors and has learned the value of persistence, patience, and maintaining relationships. In our conversation with Mike, we discuss the most important considerations that come with buying and selling land. We hear about Mike’s work with navigating entitlements for land, learn how entitlements add certainty and why that greatly benefits property value. Tuning in you’ll hear Mike outline his advice for what to avoid in land investment, like why you should always avoid rezoning a property wherever possible, as well as how to avoid city council evaluations. In our mindset section, Mike shares his morning routine and unpacks what he gained from doing a multitude of courses early in his career. You’ll also discover the typical timeline for land flipping and gain insight into the wild variations that occur between different states, not just in pricing, but also in potential profits. Tune in today for an exciting look at land flipping and much more!
Key Points From This Episode:
- Get to know today’s guest Mike Marshall.
- Mike’s work with land investors and how he recognizes the potential value that could be lost during the entitlement process.
- How entitlement adds a degree of certainty and how that benefits property value.
- The benefits and drawbacks of subdividing a lot before selling.
- A breakdown of Mike’s hybrid payment structure.
- Why the majority of Mike’s work is in Texas and California.
- Why you should do your best to avoid rezoning a property, if possible.
- Mike shares his advice on what to avoid in land development.
- Hear about Mike’s morning routine and why he always starts with exercise and meditation every morning.
- Mike shares his book recommendations and why he stays abreast of growth patterns in populations.
- How different courses gave Mike a reliable foundation in real estate, as well as exposure to valuable networks.
- The typical timeline for land flipping.
- Mike’s advice to first rent a home if you move somewhere new.
- Mike’s mindset advice to take the long view of investment by being patient and persistent.
- Why valuing and nurturing your relationships is key.
- How Mike’s definition of success is determined by how he can choose to spend his time.
Links Mentioned in Today’s Episode: