Direct mail marketing has always worked and will likely always work. The reason for this is that there is very little competition in the land space. One of the most important steps when you flip land is to find the right people to market to. In this episode, I explain how to select the right records from the county and how to filter them by their market value.
This podcast was recorded as part of our Winning Wednesday live series. Every Wednesday at 10AM PST on the Land Profit Generator Real Estate Investing Facebook Group, I answer your questions and delve deep into real topics that affect land flipping business owners.
How To Determine Assessed Value vs Market Value
When you don’t understand the difference between assessed value and market value, you will waste time and money on your marketing. The important thing to understand is that every state in the US has different laws governing property value. In essence, each state has its own ratio between assessed value and market value.
For example, in Arkansas, assessed value is determined to be 20% of market value. So if you see a property listed in an Arkansas county record at $10,000 then it’s market value is $50,000. In Florida, however, assessed value is 80-90% of market value.
So, if you want to select the right records for your marketing campaign, you need to find out the laws of your state. Luckily, this is very easy to do. All you have to do is call the county assessor’s office and ask.
How To Select The Right County Records
With our land flipping method, we target properties in the $5,000 – $200,000 range. The more experienced you are, the higher-priced properties you can target. Now that you understand the assessed value vs market value, you can select the right records from the county list.
It’s simply a matter of calculating the market value based on the laws of that specific state. For example, in Arkansas, you will pick properties with an assessed value of $1,000 – $40,000. It’s crucial that you always bear in mind that each state in the US has its own laws – so you always have to do your research!
Find out how to select the right records from the county
Learn the difference between assessed and market value
Understand how to optimize your direct mail campaign by tar
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