WS1572: Getting Successful in Land Flipping Business | Pete Reese

Local residents can definitely help you find the best properties you’re looking for in a certain area. In today’s episode, Pete teaches us how to be successful in the niche of land flipping and what exactly is his business model and the system he uses in his business that helped him generate wealth.

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Pete shares how he scales his business by sending letters or emails and through his investors. He also talks about how he was able to purchase and sold hundreds of real estate pieces and how he’s and on track to earn $4 million in revenue in 2022. Tune and also find out how they find their data and how they receive information so you can have amazing profits too!

Key Points From This Episode:  

  • How Pete got into real estate, specifically the land flipping business.
  • What is land flipping? 
  • How to manage leads from emails.
  • The call center company that Pete outsources and the Customer Relationship Management (CRM) he uses.
  • The best places to buy real estate.
  • How to determine an active land market.
  • How to determine the value per acre according to the kind of property.
  • Examples of best and worst deals.
  • What are the scalable parts of the way Pete process leads and what can they do to get bigger deals?
  • Pete’s predictions in the real estate market for the next 12-18 months.
  • The challenges Pete is facing in his business right now and the metrics he tracks both personally and professionally.
  • The habits that produced the highest returns for Pete and the number one thing that contributed to his success.

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We go through a due diligence process, we go through a title or escrow company, whatever that state requires, we’ll make sure that what we’re buying is what we thought we’re buying and no red flags. – Pete Reese

When we’re looking at a property at an area that’s kind of new to us, if they can give us some confidence and say, hey, I really think this is a good property, I know this area, I really feel like you can resell it for this, it allows us to pull the trigger and move forward on some of those deals. If we didn’t have those people on the ground, we’d have to be way more conservative sometimes. – Pete Reese

The metric I’ve looked at is cost per deal. And this averages out over time. So they cost me about $3,000 in direct mail costs in order to get a deal. And my average profit on the deal was about 22,000. – Pete Reese

A big part of our business is getting a local wind specialist broker or agent to help us out not only on the valuations, but also on the resale side of things. Once we find a good partner to work with, we really try to establish as much business as we can. – Pete Reese

If we see that there’s 10 active listings, and the 50 sales over the past 12 months, then we know that that’s a pretty hot market. – Pete Reese

Links Mentioned in Today’s Episode: Website

Turning Profit Website

Turning Profit on YouTube

About Pete Reese

Pete Reese is the President of Reelvest Properties, a land development, and investment company. With nearly two decades of real estate experience as a broker and investor, Pete has successfully purchased and sold hundreds of pieces of real estate for a profit over the years for himself and on behalf of his clients. He’s on track to earn $4 million in revenue in 2022 with his land flipping and development business. Pete’s always looking for his next deal, including his longtime dream of his own private island. Besides his professional accomplishments, Pete is a proud father to three beautiful girls, keeps up with his family by working out and enjoying a vegan diet, and is the 31st great-grandson of King Henry II.

Full Transcript

Episode 1572


Peter Reese (PR): The things I’m working on for this year is doing the bigger deals, you know, the bigger deals I do, that will help us scaled in the numbers that we want to get to, but also sending out more mail, that’s kind of an easy, whatever that you can pull there, like more letters, more potential deals. It’s just a matter of sending the mail, you know, identifying those markets that are good markets that you can, you know, have some real potential. Also kind of building the team as we go, you know, like, getting partners in different areas that we can really rely on the local real estate agents and land burgers and things. Those are, those are really kind of essential to scaling.


Whitney Sewell (WS): This is your daily real estate syndication show. I’m your host, Whitney Sewell. Well, guess what our guest today, he’s the 31st, great grandson of King Henry the second, I don’t think I’ve ever said that on the show before. I thought that was just a neat fact that he knew that his name is Pete Reese. He’s a president of real best properties, a land development and investment company with nearly two decades of real estate experience. As a broker and investor, Pete has successfully purchases and sold hundreds of pieces of real estate for profit over the years for himself. And obviously, on behalf of his clients as well, where he’s on track to earn 4 million in revenue in 2022. With his land flipping and development business. He’s always looking for his next deal, including his longtime dream evidence of his own private island. I thought that was neat as well. But Pete, he has become an expert in land flipping. 

WS: And I think it’s just a neat process of how guys have done that we’ve interviewed a number of them on the show over the years, and they’ve got this dialed in that it’s I mean, it’s just a very interesting process of how they find this data, how they act on it, how they receive, you know, all this information, and how they move forward and make some amazing profits in this kind of business. And he and I talked about scale, you know, how can you scale that? And what does that look like? You know, is it more letters? Is it investors? What does that, how do you do that? I enjoyed this conversation, I think there’s a number of things that I learned, and then I can, you know, take back to our business as well. You know, even though we’re not flipping land, and so I know that you’re gonna learn a lot from Pete today. 

WS: Pete, welcome to the show, looking forward to learning about your business model that seems to have been so successful in this land flipping business, man. Welcome to the show, Pete.

PR: Well, thanks for having me. Whitney. I really appreciate it.

WS: Well, Pete, tell us a little bit about how did you get into real estate? How did you get into this specific niche of land flipping? It seems like I’ve heard more about that over the last year or two, maybe, but not really before that. But what is that? And how did you get into that type of business?

PR: Yeah, well, the crazy thing is, I’ve only been doing land flipping for about two years at this point. We actually resold our first property in this model in March of 2021. And did about that first year, partial year, we did about 1.2 million in revenue, and about 50% gross profit. 2022, we did about 3.5 million in revenue and little, just slightly under 50% gross profits. And next year, we’re hoping to do 10 million. So I’m not just hoping I think we can do 10 million, but I’ve been in real estate since I guess the year 2000, when we bought our first home and then just kind of started leveling up, we did some improvements to that place. And then we started getting into flipping homes. So we did that for quite some time. I got my broker’s license here in California in 2006. And market crashed. And then it became an REO, my focus was being an REO listing broker for a number of years. And that was a very busy time, you know, to be listing and selling bank owned properties, that was pretty much the only stuff that was selling. 

PR: So I got into that for a while and then transitioned into kind of just finding deals for other large investment companies. So I did that for a number of years. And that was my sole focus. And I kind of shifted away from investing in properties myself and just kind of finding deals for these larger companies. After that kind of transitioned into another business, online education business with my wife that was pretty successful. And we did that for a number of years. But I got the itch to get back into real estate investing, didn’t really know which model to go with, didn’t really want to get back into home flipping, I knew how to do that. And I was comfortable with that. I just didn’t want to deal with contractors and everything else that goes with that business. It is a fun business in a way but it’s also a little bit of a stressful business. 

PR: So kind of read doing bunch of reading online and stumbled into some stuff, where people were talking about land flipping, and I had never heard of the model before really, and people talking about, hey, I bought this property for 10,000 I sold for 30,000. And that kind of intrigued me, you know, here’s this type of returns and kind of a smaller investment and just went kind of all in and learned everything I could about it adapted what I learned a little bit to put my unique spin on it and just kind of kind of went for it. 

WS: Wow. 

PR: So I ended up here but.

WS: Yeah, it sounds like you’ve done pretty well at it though. You know, I mean you definitely dove right in. You know, give us a little more I’ll just what that is. And for the listeners who have never heard of term land flipping before, what is that maybe give us a deal example, as well? 

PR: Sure, yeah. So the model basically, is this. And there are other ways to do things. And then the way I do it, so I just want to preface it by saying that this is the way I do things. So I’ve basically generated all my leads, all my deals with direct mail. I send out a lot of direct mail, like at this point, I’m sending out 50,000 letters a month. So a good quantity. But essentially, you build a list and you’re using, you know, I use a company called data tree, it’s the first American companies, but it allows me to build the list and I pretty much search a certain area, say for instance, I’ll take a county, and then in that county, I’ll look at all vacant land that’s 10 acres and above. And then I filter out the obvious non sellers, these would be people like this would be companies like railroads, or a city owned property or municipality, something like that, where I know that they’re not going to be interested in the offer that I send them. And then I come up with average price ranges for that county. So for instance, a acre of land and that area may go for, you know, at a 10 acre parcel, it may be 10,000 an acre, so I’ll back off a percentage from there, and then we’ll come up with an average offer price, you know, like, generally I would do, if it’s a pretty hot area, I may do 40%, you know, to retail value. 

PR: So and then we’ll just do a mail merge. And that generates an offer value on each one of these letters that we’re sending out. So we actually, page one is kind of a letter describing who we are, what we can do for them. And page two is an actual one-page offer that we send out. So we send out 1000s and 1000s of these letters each month. Phone obviously starts ringing, we get letters back, you know, sometimes people just sign the offers and send it back. Sometimes they email them back, sometimes they call and they complained that the offer was too low. But essentially, it gets the activity coming in. And we’ve got a process now to kind of deal with all the all that activity, we evaluate the offers, we evaluate things when they come in and look at the properties really deeply at that point. And then we come to an agreement with these property owners, you know, we are offered to them as we buy cash and we close quickly. So that’s make it as simple as possible. Very little disclosures, very little, you know, headache for them just make it a quick and simple process. 

PR: But we go through a due diligence process, we go through a title or escrow company, whatever that state requires, we’ll make sure that what we’re buying is what we felt we’re buying and no red flags or something like that. We’ll loop in a local broker or agent in that area and help them have them, you know, guide us a little bit like ask them, you know, what, what they think they can resell it for, and any potential things to look out for on that property. And then we’ll as soon as we close, we close with cash, generally. As soon as we close, then we will use them to list the property. Sometimes we’ll do some minor value add type stuff to the property, these could be, you know, clearing some brush, it could be getting a perk test done, could be getting a survey done, it could be doing a minor subdivision where we’ll just hire a surveyor to kind of split up a property and then we’ll sell off the lots individually. So we’ll do some minor value add stuff sometimes. And then we’ll list it on the market slightly below retail value, and sell it quick, quickly. So on average, we’re holding these properties only for about 60 days. That’s kind of the general business model. And I think you had a follow up question, but I can’t remember what that was.

WS: No, no, that was great. I just really you know, how you got into this business, and then a little about land flipping itself, what that is just the listeners if you think they’re not familiar. I mean, that was great. And there’s a few things that I want to dive into. Because I feel like there’s a number of aspects of that process that we can use in almost any real estate business, you know.

PR: For sure. 

WS: And so, you know, it’ll see I was making some notes. And you, you know, sending out that 50,000 letters, I was thinking about how I processing that on the bow on the back end, I would imagine all of a sudden, you know, even if that produced 1000 leads, I don’t know if it does or not maybe you can provide is there a percentage there that you’re hoping for out of that 50,000? And then you know, how do you manage just processing that many?

PR: Yeah so, we have a number of systems in place to kind of process the leads that come in. And then don’t really track response rate, because there are a lot of variables. So for instance, if I put a higher offer price, higher price per acre offer price or percentage on those offers, I would get a much better response rate, but it wouldn’t necessarily want those people responding anyhow. So I track more of in the metric I’ve looked at is cost per deal. And this averages out over time. So they cost me about $3,000 in direct mail costs in order to get a deal. And my average profit on the deal was about 22,000. So the numbers you know, definitely work for me. As far as the systems are processed the leads that come in, we have a call service, a service that we pay for that basically answers the phone 24 hours a day, and then they’ll ask some basic qualifying questions. 

PR: And then send us an email you know have kind of the details on that gets entered into I’ve got another team member that enters it into our CRM, which kind of starts some, some automated stuff like texting and saying, hey, we’re gonna be giving you a call from this number, we’ve got an Acquisition Manager, then that reaches out, ask some more qualifying questions to try to get some additional information about the property. And then obviously, people will sometimes mail back a response, sometimes they’ll just mail back the signed offer, which is cool. And then you know, sometimes they’ll email or text back and, you know, wanted negotiate or something along those lines. But so yeah, we’ve got a CRM and a whole process in place to kind of deal with all that stuff. The other thing is like when they call during regular business hours, we attempt to have the call center, live transferred to my Acquisition Manager that can hopefully, you know, get on the call with them right away, if possible.

WS: That’s also in new listeners are thinking, well, you know, call center you sound like you’re outsourcing that. Is that right? 

PR: Yes. 

WS: Is there a company you could tell us about for the call center and in the CRM? 

PR: Yeah, the company I use is called Pat live P-a-t L-i-v-e. They do a really good job. And I like the fact that they’re able to answer the phone at any hour. And it’s just not feasible for me to have like someone on their team that can always answer and yeah, and they could be on another call or something and not able to answer. So I like it said all these calls get answered. And they charge by usage, you know, just depends how many minutes your kind of using each month, and they’d send you detailed logs of all this stuff kind of looks like your cell phone bill.

WS: I would hope you’re not putting your cell phone number on all those letters.

PR: Oh my, god. You know, I think some land investors do that. But maybe they find out real quickly. That’s not a good idea. And that’s another part of this business. You know, sometimes you get people calling that are like, super, super upset, you know, that you mailed them this? Well, first, you know, so I use that call servers to kind of filter out those people that are not interested in selling and, you know, just calling to complain or something.

WS: Yeah. And then the CRM that you use, I know people wonder about that.

PR: Yeah, so it’s a custom solution that we built on top of the high-level platform. And high level was kind of an all-in-one system that allows it’s very customizable, but at the base system, it’s basically just there, but you have to build on all of these things on top of it in order to do what you want it to do. So I don’t just use that for the CRM. It’s basically a whole business process system for us. So it manages all the different team members and all the different processes that we have within our business. And it’s all tied into technology. And, so it’s really cool solution for that.

WS: Yeah. And that’s helpful. I just know, I get questions around CRMs all the time, or people wanting me to ask, you know, the guests, if they mentioned that, I’d say you mentioned that, you know, you’re like you’re figuring out the potential price per acre, you know, for this land in the county. I guess let’s back up from there. And talk about markets a little bit, you know, you’re in California, what parts of the country are you buying in?

PR: Here, most of the stuff we’re buying right now is east coast. So I know you’re in Virginia, we buy a lot of properties in Virginia, you know, pretty much anywhere from New York down to Florida. And, you know, I’m not opposed to any other place in the country, I’ll buy land anywhere. But it just seems like sometimes you get established in one area, and that works really well. And then you try to get as much repeat stuff going in that area. You know, with us, a big part of our business is getting a local land specialist broker or agent to help us out not only on the evaluations, but also on the resale side of things. So once we find a good partner to work with, we really try to establish as much business as we can in that area. So just kind of been, you know, we send out test mail to all of our different areas. And sometimes the mail works really well in a particular area. Sometimes it doesn’t. And maybe I don’t know, all the reasoning for that. And maybe I pressed the offers wrong or who knows. But so we’re always trying to kind of expand into new markets. And it just it’s gradually increasing over time.

WS: Now, that’s interesting. And yeah, what are some ways that you’re gonna pick that market? You know, what are some things you’re going to think through? You know, are you just going to keep covering the map as you work your way down the east coast? 

PR: Yeah well, one thing, the big thing we look for is activity. You know, we need to make sure that there’s kind of an active land market. So and to determine that really, a lot of times, we’re just kind of looking on Zillow, or, kind of just filtering for land. And, you know, for instance, we do a lot most of our properties now, or 10 acres plus, sometimes some of the areas are five acres plus but we’ll just kind of put that filter in and over the last, you know, say for instance, we’ll get a particular county. And over the past 12 months, you know, how many properties sold within that acreage range? Was it 50 properties that sold and then we’ll look at the active listings. And if there’s 200 active listings in that category, then we know that there’s a real glut of inventory and not a lot of sales of slag. Theoretically, that’s four years’ worth of inventory. But on the other side, if we see that there’s 10 active listings and the 50 sales over that, you know, the past 12 months, then we know that that’s a pretty hot market. And if we get a property that’s a nice property and we price it right it’s going to sell. So that’s kind of the main thing that we look for really just kind of the market activity in a particular area.

WS: That’s helpful. As you know, speak to determining the value, you know, per acre, you know, for that property exact because that can change quite a bit, say, per even within the county, right, depending on the location where it’s up. 

PR: Exactly. And it’s kind of really hard. Well, it’s an inexact science, I would say, in order to do that, kind of on that big level that we do when we’re building out these mailers and everything. So we’re just kind of going for averages, but even in in one particular area, within a particular county, it could vary by the property itself, you know, like, is the property all woodland? Is it a farm? Is it all wetlands? Is it landlocked, you know, like, there’s all these different variables that you don’t even, it’s not even just the location itself, it’s a lot of other things. And you don’t really know those things until you really looking into a property when the league comes back. You know, I know, other investors that spent a lot of time looking at each and every property and valuing it before they send up the mail. But it’s just kind of not my thing. 

PR: I’d rather spend a little bit more money, you know, to get each deal and not go through all that minutia on the front end, really, I think it’s more about just taking the action, and I’m happy with that return, you know, spending 3000 per deal, and get 22,000, in return so that those numbers make sense. You know, even if I was able to get that down to 500 per deal, you know, it’d still be 23,000 per deal on the other side. And it just doesn’t make a lot of sense for me to get that refined on the front end. So I’d rather just send out the mail. And then you know, we’re wrong, sometimes, you know, our offer amounts sometimes are too high, sometimes they’re too low. Sometimes they’re just right. But then we have that conversation when they contact us. And if we were too high, we tell them why we were too high. And we tell them, what would it take to put the deal together. And either they go for it or they don’t. And, you know, if we were too low, they’re going to tell us about it. And they’re going to tell us what they need in order to make the deal make sense. And either it does or doesn’t for us.

WS: Now. That’s interesting. It’s a lot of that’s getting the conversation started.

PR: Yeah, if they’re gonna start somewhere. Yeah, and I think the offer thing is, there’s other strategies, too, you know, some, some investors go with what they call more of a neutral letter, which means, hey, I want to buy your property, you know, give us a call, we pay cash and click close, and all this kind of stuff, but they’re not giving, putting any sort of valuation on it. It gets more leads coming in that way, but then you get a lot of a lot of people calling back that are looking for retail. And so you have to kind of sift through more potential deals, I guess, in order to get to the good ones.

WS: You know, speak to the, you know, the worst and the and maybe the best deal, you know, that you’ve done through this process.

PR: You have done some done some really good deals, one of my favorites is one we just did. This is January, when we’re filming this a couple of weeks ago, this is one of the first properties that we closed in January here. And this year, we bought it in December, I think towards the middle of December even it wasn’t we didn’t hold it that long. So we bought it for 60,030 acre property, and then we put it on the market, we thought, you know, 149 was a good price of it, get some activity, so we put it on the market for 149. And instantly, we got people, you know, offers coming in, and we ended up getting it under contract for 175. And then it was kind of like a two-week transaction, I think and then it closed. And then we ended up making 90 some 1000 and didn’t even have to do anything to the property.

WS: That wasn’t in Virginia, was it?

PR: No no, just south of you. That’s awesome. So yeah, so deals like that come up, sometimes kind of the worst deals, I haven’t lost a knock-on wood. I haven’t lost money on any of the deals that we’ve done yet. But I’ve gotten very close, there’s one deal, or I think I made 100 bucks on it, you know, after everything was done, and its kind of I kind of drew the line in the sand. Like we had an interested buyer. And they were negotiating and negotiating. And I’m like, hey, this is my bottom line. And I figured it out like okay, this would just net me $100 because I don’t want to lose money on any of these deals. But it was a property I had for a long time I had just I don’t even remember what I gotten wrong on it, but I kind of just probably overestimated what the value of the resale value of it would be. So ended up holding it forever can reduce it, reducing it, reducing it over time, and then essentially, I just took an offer to just get rid of it. So that’s the loser type deal so far for me. So I’m happy with that as long as I’m not losing money, if the loser deals or are not like costing me money, I’m fine with that. Because time for sure, though.

WS: No doubt about it. Speak to your like a scalability like in a model like this sounds like it, maybe it’s on the front end, as far as you know, sending out you know 50,000. Well, maybe we can do 100,000 Right a letters per month or 200,000. Or maybe we’re doing that many more markets at a time or we increase our you know, our call service, you know, quantity or you know, whatever, you know how we’re processing these leads are. But then on the on the flip side of that, you know, is there a scalable part of it that’s where you could do, you know, a lot bigger deals, you know, and do this same thing? How do you look at that?

PR: Yeah, that’s a good question. Because those are all kind of the levers that you can pull in order to scale things. And that’s kind of the things I’m working on for this year, is doing the bigger deals, you know, the bigger deals I do, that will help us scale them the numbers that we want to get to, but also sending out more mail, that’s kind of an easy, whatever that you can pull there, you know, like, more letters, more potential deals, it’s just a matter of sending the mail, you know, identifying those markets that are good markets, that you can, you know, have some real potential. Also kind of building the team as we go, you know, like, getting partners in different areas that we can really rely on the local real estate agents and land brokers and things those are, those are really kind of essential to scaling. 

PR: So the more good people that we can get established in other areas, it gives us confidence, you know, when we’re, when we’re looking at a property that an area that’s kind of new to us, if they can give us some confidence and say, hey, I really think this is a good property, I know this area, I really feel like you can resell it for this. It allows us to kind of, you know, pull the trigger and move forward on some of those deals. Like if we didn’t have those people on the ground, we’d have to be way more conservative sometimes. And then, you know, kind of building out the team, you know, like getting another Acquisition Manager is probably the next step for us to kind of deal with the inbound things. Call center is kind of infinitely scalable, the way it’s set up now. So they’ll just keep answering however many calls that we send them. Those are those are the big areas for scaling.

WS: You know, looking back, you know, what would you have done differently in real estate or just in your real estate career?

PR: Well, I definitely would have loved to have gotten started way sooner in this niche than I have. I mean, it really is a, you know, a model that works? Well, I think with my skill set. And yeah, we would have loved to have gotten started in this niche way sooner than what I did. So that’s kind of, you know, if I had to redo it again, that’s what I would do.

WS: Do you have any predictions for the real estate market, or, you know, over the next 6, 12, 18 months?

PR: I do think that there’s some softening going on? I know, there’s a lot of talk about impending crash and things like that, and I don’t, I don’t necessarily think a crash is coming. I do think that things will at least be stagnant or maybe softening further as we go here. And it just kind of depends, you know, the land markets a little bit different than the residential housing market, which is different than, you know, multifamily. And, and all those areas. But you know, the land isn’t as tied to interest rates as much as you know, single family or maybe even multifamily, but the thing about it is, it hasn’t run up as much as some other asset classes. So it’s just not as volatile, I guess you could say, but as far as the overall market, I do think that there’s going to be maybe some tough times ahead. But I don’t foresee any type of crash happening, like happened in 2007 to 2009. You know, but I could be wrong. It’s happened one time before.

WS: At least once, maybe, which can’t remember it? 

PR: I can’t. Yeah. 

WS: Do you have any kind of threshold that you’d like to keep? As far as you know, when I think about like a potential downturn, let’s say we’re buying a bunch of land to flip and we have, you know, a number of properties that we haven’t sold yet, right? Or is there like, okay, we’ve got this many, or we put this much capital out? Or, you know, what kind of threshold do you look at say, okay, we’re going to slow the, maybe the mill down until we sell some or something like that.

PR: Yeah, it’s interesting. That would probably make sense. But I don’t view it that way at all. Like I just, we’re just constantly as many good deals as we can get under contract we bought, you know, we move forward with them. If it comes to this point where I don’t have the cash to take advantage of the deal or something like that, then I know, I can always bring on a partner, you know, if it’s a real deal, you know, there’s partners out there that will gladly put up the money and then split the deal with me. That’s the kind of the way I view it. I mean, thankfully, you know, the cash, it’s a cash flow type business, these properties, you’re buying him and you’re selling them quickly. And it’s all about the timing and things like that. It’s just a matter of, I guess, keeping that that machine going. And if the cashflow gets to the point where I can’t actually close on those properties, cash myself, then I’ll just take on the partners.

WS: What’s the biggest challenge you’re facing right now in your business?

PR: Biggest thing that frustrates me really is how long it takes to close some of the purchases and some of the areas. So we always buy a property with title insurance. And so there’s a title company, and there’s an attorney or escrow company involved. And a lot of times they don’t want to move as fast as I do. That’s kind of the biggest challenge we face. So it just seems like we’re always prodding, you know, faster, faster. And, you know, I want everything I want. I want things done right. But, you know, on the other hand, you know, I think that there’s a there’s ways that some of these things can be more efficient than they actually are. So I guess that’s the biggest frustration.

WS: I think you’re the only one that’s having that problem. 

PR: Oh, yeah. 

WS: I’m joking. Of course. They’re ugly, completely understand. 

PR: Yeah. Frustrating. 

WS: What are the most important metrics that you track? It could be personally or professionally.

PR: I track a lot of metrics in our business and I actually do that Got a website, it’s called Where I break each month, I break down the numbers of our business, like the revenue we did the profit, we did that gross profit we did that month, each and every deal, like, what we bought it for what we sold it for kind of insight in each and every property, average, hold times all this kind of stuff, but big kind of metrics, I look at our, you know, average gross profit, you know, over time. I also look at, you know, attractive revenue really closely attracted days on market really are the days in inventory very closely, I just want to make sure that that’s not creeping up over time. So those are the big things. And then stuff like average cost per deal is also important to just kind of make sure that that staying in line as well. Yeah, so those are, those are the big things.

WS: That’s awesome. I appreciate you sharing that. And then what about some habits that you have that have produced some the highest return for you? 

PR: Yeah, well, the biggest thing in this business, and I think this is an area where a lot of investors fall short, is the what the biggest thing I do is I make sure that our mail is going out consistently at a level I set and I just don’t deviate from that. Like we right now we’re set at 50,000 letters per month, I send out 25,000 on the first 25,000 on the 15th. You know, depending on where we’re at the weekends. But that’s one constant. That’s one thing that can completely control in a business where you’ve got a lot of things that you don’t have direct control of. That’s one thing I can control. And I know that if that those outreach efforts go out on a regular basis, I know that everything’s going to take care of itself.

PR: It will I mean, the deals will be there. And we’ll be buying properties. And we’ll be selling properties. So that’s kind of the biggest engine, that’s kind of the biggest thing where I see other investors, maybe they don’t put as much focus on that, you know, like, they’ll do a lot of outreaches, or they’ll get, you know, the phone ringing whatever method they’re using, and then they’ll back off when they get busy. And then they’ll say, oh, shoot, you know, I don’t have any leads coming in. And then they’ll try to ramp that up takes time to get going again. It’s just this continuous rollercoaster. So easiest controllable thing. So.

WS: Yeah, I meant to ask you to because I know people were wondering, the service you use for your direct mail. It’s I know, we’ve had a few people talk about him on the show. 

PR: Yeah, yeah, I use rocket print rocket print mail. So they do letters, they do postcards and everything. But yeah, we use them for the letters. I’m not looking all those stamps myself. Yeah, that would be monumental.

WS: What about the number one thing you would say is contributed your success?

PR: I think my consistency. You know, I’m not the smartest person in the room. But I can be very consistent. I think that’s my superpower if I had one.

WS: Yeah, yeah, I can relate to that. And then that, how do you like to give back?

PR: How did I get back? Well, for me, it’s, it’s all about my family. You know, everything I do is kind of, I’ve got three girls. They’re older now. But 22, 20, and 13. So, you know, everything I do is just to kind of make sure that they’re taken care of, and my wife is taken care of as well. And, and then, you know, we always try to help out others whenever we can. And things that are truly impactful.

WS: Awesome. Well, Pete, you also one of the thing, you know, and that listeners heard this, you know, the 31st, great grandson of King Henry the second, that’s interesting. How do you know that? 

PR: Well, I just figured it out. Like, a couple years ago, my daughter was doing research on And you can follow all these clues back. And yeah, she just followed all the clues back and they’ve got you know, he was in my line there. And then other people that back then too. Crazy thing is I went he was responsible for really building this Dover castle in UK or England. And I had visited that before. And the first time I visited there, I didn’t even realize that that connection there. 

WS: So that’s really neat. 

PR: Yeah. And then I went back afterwards, and they didn’t even give me any sort of discount for going into the castle. Not that I probably I get half of England is related to him, too.

WS: That’s awesome. Well, Pete, it’s been a pleasure to meet you have you on the show and really learn more about the land flipping model that you use? Exactly. There’s a number of things that process that that we could use as well, you know, grateful for that grateful for your time and just transparency through your model and systems that use and how can listeners get in touch with you and learn more about you?

PR: Yeah, best place is to go to And it’s got links to all of our social accounts, YouTube channel. And we just launched a podcast here at the beginning of January. So it’s all about real estate investing and big focus on land flipping. And on the site there. That’s where you’ll see all the monthly income reports that we do. I also have another thing on there where I broke down the first 50 deals that I did in the land flipping business kind of break them down one by one, how much we made on each one what we bought them for what we sold them for how many days we held them for everything like that. So if you’re all interested in the land flipping niche or model, definitely I think it could be interesting to you.



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