Learn How to Invest and Profit Off Infill Land Acquisitions

Dan Haberkost is an investor based out of Colorado Springs, Colorado. Dan owns several rental properties, own a development company and buys/sells land on notes. Dan is currently doing a lot of development in the Sunbelt and in Florida and has had a ton of success in Colorado already.

In this episode we get into specific strategies you could use if you are looking to add infill land acquisition to your acquisition strategies. We get into very specific details on how to find markets to target as well as how to find properties and the exit strategies you should be considering when utilizing this strategy.

// DON’T FORGET TO REACH OUT TO DAN HABERKOST

https://www.instagram.com/danhaberkost/
www.DanHaberkost.com
https://www.facebook.com/dan.haberkost.3

// QUOTES

"I let myself feel bad for like 5 minutes and I said I can cry about it or I can deal with it and that is just life"

"I am less excited about the prospect of buying duplexes and fourplexes and I am far more excited about building out these active investments that can last for decades "

"Like everybody else I read “Rich Dad Poor Dad” and it was a lightbulb moment. I started listening to bigger pockets and went out and bought my first duplex"

"It is important to target land that is in smaller markets that have been ignored for years. Oftentimes you have all these owners that bought land 10,20,30 years ago for nothing. Now even if you buy it at 50 cents on the dollar they are still making a great return on their purchase."

"I think we all find after a certain period of time that part of the enjoyment of doing this is just using your brain, taking on difficult things and just learning."

"I think what is most important is having very clear priorities from day one so that you do not ignore the other aspects of life "

“One of the best things for somebody that is new is to find somebody that is already doing what you want to do and go work for them.”

// CONCEPTS

•My mentor has been disabled his whole life and has been fighting one thing or another and he never complains. He still went out and made an amazing life anyways. This has affected the way that Dan thinks about his career.
•One of the best parts about real estate that really stood out was you could add a zero to your income fairly quickly instead of following the traditional linear projection of a normal job
•There are 4 exit strategies that we generally use: Flip it, Assign the contract, sell it on a note where we carry the financing or are we going to put a house on it. We essentially just analyze each one and do the one that makes the most sense.
•The end buyer for in-fill land is typically going to be a builder, the end user or another investor. One of our favorite strategies for disposition is to look up all the builders and call them. If you ask for the acquisitions manager you can quickly build a list.
•Start looking where people are moving. Once you identify markets look for major metros that have a lot of recently sold data. From there look for clusters just outside of the major markets preferably on a major highway to identify where the next booming areas might be.
•As you progress you can start thinking about a much longer term. How do I set this up to be a sustainable business for 10 years? That is what I have been thinking about. 31-31:45
•The startup is always hard. I don’t know anybody that had success right away. If you do this right you can get to a point where you are just doing business with your friends and having a good time”

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// TIME STAMPS ⏲

0:00 - Introduction
0:30 - Craziest Real Estate Transaction
4:40 - What was your expectation of real estate vs reality
6:55 - Dan discusses managing other people’s businesses
9:50 - It sounds like your first job got you thrust into the fire. How did that evolve?
11:00 - Talking about mindset shifts Dan needed to make
14:20 - What led you to real estate?
16:05 - What is a broad stroked overview of how your business currently operates?
18:15 - How do you build your land buyers list?
20:30 - How do you do your market research?
25:50 - What areas would you target in an area that is already largely built up?
28:25 - What is your vision for the next 1-3 years?
32:00 - Will you be looking for another challenge next after getting going in the commercial space?
35:50 - For somebody just getting started, would you recommend the land game first?
37:00 - What is the best way for the audience to get in touch with you?
41:15 - Getting started is just about taking imperfect action
43:45 - Nothing builds confidence faster than going out there and having success