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.

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[00:01 - 07:19] Land Flipping Business with Pete Reese

• Pete Reese is an experienced real estate investor who shares his journey in real estate investing, from buying and flipping homes to selling bank-owned properties.

• Consistency is emphasized as the most important factor in building a successful land flipping business, according to the Real Estate Runway Podcast.

• Listeners are encouraged to leave a five-star review and follow the podcast on social media.

• Pete Reese was able to generate significant revenue and profit in 2021 and 2022 from land flipping.

[07:20 - 14:09] Secrets to Quick Profit with Direct Mail Deals

• The company generates deals through direct mail to landowners, with an average hold time of only 60 days.

• Ideal customers for land flipping are recreational or potential home site buyers, with properties ranging from $20,000 to $150,000 on average.

• Rule of thumb for the company is to double their money on each deal, making direct mail deals an attractive option.

• A team has been built up over time to handle lead flow and every step of the process in the company.

• [14:10 - 25:39] Secrets to a Successful Land Flipping Business

• Pete has a team that includes a call center, lead manager, acquisition manager, property analyst, transaction manager, asset manager, general assistant, and executive assistant.

• They send out 50,000 letters per month to find off-market deals for land flipping, emphasizing the importance of consistency.

• Pete’s niche is competitive but profitable with an average cost of $3,000 per deal and an average profit of $22,000.

• There are different ways to do land flipping including selling properties through owner financing or partnering with investors, making it a flexible business option.

Connect with Pete:

Website:http://turningprofit.com

Quotes:

“Our kind of rule of thumb is we're trying to double our money on each deal. So, we just back off what resale expenses are going to be, and any expenses we're gonna have with the property. And then that becomes our max offer“ - Pete Reese

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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.