Manage episode 367533051 series 3489101
In this episode, the host Ky Logue interviews a guest named PJ Reilly, who is involved in wholesaling land. PJ shares his experience of how he got started in real estate, specifically with buying and selling land. He explains that he initially heard about buying houses in Detroit but found it challenging. However, while watching a video about selling land, he came across an opportunity to purchase two properties for $1,100 each. Without much knowledge about deeds and contracts, PJ negotiated a deal with the seller and bought the properties.
PJ mentions that he sold those properties two weeks later for $1,500 each, making a $1,000 profit on each property. This success motivated him to continue pursuing land deals, and he has since completed around 500 deals. He primarily focuses on buying and selling land, but occasionally deals with houses and mobile homes if they are on the land he purchases.
The conversation also touches on the emotional attachment people have to land in different regions. PJ explains that while a nice car may be seen as a status symbol in certain big cities, in rural areas, such as where he operates, the value is placed on land rather than luxury vehicles.
PJ discusses his approach to finding land deals, which primarily involves sending out around 10,000 mailers each month. He explains his process of using a CRM system and a call center to handle responses from sellers. Once the responses come in, PJ's team evaluates the properties and determines their potential value.
Overall, the episode provides insights into PJ Reilly's journey into wholesaling land, his approach to finding and evaluating deals, and the emotional aspect of land ownership in different regions.
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