46: Cash Flow And Capital From Land Flipping, with Travis King

After just 2 years, Travis King built up enough of a monthly passive income stream from his land flipping side hustle to quit his 9-5, and has since built it up to a 7-figure business.

In this episode, you’ll discover,

How to generate cash flow from land deals,
Costly mistakes made by newcomers to the industry, and what to do to avoid them,
Why Travis prefers buying land over purchasing homes,
Alternatives to bank financing,
Tips and tricks for the newcomer to land flipping, and
Ways to scale your business if you’re already a seasoned land investor.

If land flipping piques your interest, be sure to check out the sweet offer Travis is making available to you, as a side hustle hero listener.

What You’ll Hear:

03:52 Trying multiple side hustles

05:29 Giving any of them true focus likely would have worked

08:58 Do you really need to do more research, or is it procrastination?

09:30 First land deal was a purchase at a local tax auction, and resold on eBay

13:37 After 5 years, starting coaching people

13:54 You don’t have to live in the USA to purchase land

16:27 Toughest time is when you’re still working full-time at your regular job and you’ve built up your side hustle to the point it’s a second full-time job

16:45 Started taking back mortgages to build up monthly income

18:05 That opened up the buyer pool

18:35 Life became so much easier once Travis quit his day job

19:48 Started being proactive using direct mail to seek out sellers

24:00 Analyzing tax rolls

25:12 Some of the indicators Travis looks for on the tax rolls/lists

26:54 Maybe 1% responds to mailings, then a lesser % says ‘yes I’ll sell’ for 50%-70% below market value

27:35 He captures equity when he buys

30:08 A lot of these lists are available at the county level for free

33:27 Solving the lack of capital issue for others

35:20 Asking for too low of a downpayment resulted in more defaults

35:47 Now Travis asks for 30% - 50% down