JF3384: The Formula for Simple and Profitable Land Flipping ft. Mike Deaton
Mike Deaton, founder of Flipping Dirt and Deaton Equity Partners, sheds light on the world of land flipping. His simple buy low, sell high strategy requires very little time and energy, and results in major profits. Key Takeaways The Formula for Simple Land Flipping: There are a variety of business models when it comes to land flipping. Mike’s strategy consists of buying properties significantly under market value, doing nothing to them, remarketing them, and selling them within 4 weeks for a hefty profit. There are very few outside parties and logistics involved. Marketing Tips for Land Deals: Mike shares his techniques for marketing and selling land properties quickly. He talks about the websites and platforms he uses to list properties, how and when he works with realtors, and how he approaches conversations with buyers. The Tax Advantages of Multifamily: After seeing such success with land flipping, Mike’s tax bill was less than ideal. He decided to diversify his portfolio by investing in multifamily to take advantage of the tax and depreciation benefits that asset class brings. Now, his tax bill is near zero. Mike Deaton | Real Estate Background Founder of Flipping Dirt and Deaton Equity Partners Portfolio: $1M in land holdings 1,000 multifamily units Based in: Woodland Park, CO Say hi to him at: flippingdirt.us cashflowfightclub.com Best Ever Book: Mindset by Carol Dweck Greatest Lesson: the current financial environment is providing tons of learning Check out Mike’s previous episode: 2710 - 4 Strategies to Scale as a Multifamily Syndicator Sponsors BV Captial BAM Capital Learn more about your ad choices. Visit megaphone.fm/adchoices