How can you build a successful land investing business that allows you to take vacations and step away from the day-to-day operations?

In episode 716, host Taylor Loht interviews Dan Haberkost, a young land investor who has built a business that enables him to do deals from a distance and take extended vacations. Dan shares his journey, starting at the age of 21, and discusses his approach to land investing. He explains how he focuses on interesting land deals in the Southeast, building teams and systems that allow him to step away from the business. Throughout the conversation, Dan shares valuable insights into his business model, his thoughts on the current market, and the importance of building a business with the right people and processes in place.

[00:00 - 06:45] Misconception about Land Investing

• How the land investing market works.
• Subdivisions with existing infrastructure VS. Raw Land.
• Using local experts to help assess deals in different markets.

[06:46 - 18:22] Identifying the Right Seller and Building Rapport to Close Deals

• Identifying your seller: who is it and what are their motivations?
• Building legitimacy and differentiating oneself from other investors is crucial for getting deals.
• Understanding short-term deals and long-term ones. 

[18:23 - 25:33] Building a Business with Systems and Teams

• Learning the process yourself before hiring others is essential.
• Creating standard operating procedures (SOPs) and finding reliable title companies and realtors are key to success.
• Hiring the right people and improving the system. 

[25:34 - 31:35] The Entrepreneur's Journey and Future Plans

• Building a network and working with referrals has been effective in finding good team members.
• There's no specific moment of "making it," and the focus should be on continual growth and pursuing enjoyable aspects of the business.
• Prioritizing people, planting long-term seeds, and maintaining perspective are essential for long-term success.

Quotes:

"Good people and good systems is the key, as with any business." - Dan Haberkost

"Business should never be the first priority. People should. Don't forget to plant the long-term seeds amongst all the short-term profits." - Dan Haberkost

Connect with Dan Haberkost: 

Website: https://danhaberkost.com/

Podcast: Big Picture Blueprint 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!