Land Investing Strategies
Landon and Teria Harris are the perfect team. They have mastered the art of divide and conquer when it comes to their land investment business, Creekside Developments. After spending some time rehabbing single-family homes and realizing it was not for them, they have found their perfect niche as land investors.
They both began land investing in 2019. Within a year, they were able to build a successful land business and replace Landon’s income. They are currently working to double their passive income in 2021.
Landon and Teria currently reside in Atlanta, Georgia. When not working in their land business, both enjoy working out and traveling as often as they can. They are proud parents of four adult sons and enjoy every minute they can visit with them.
In this episode, we’re discussing…
[1:42] How did they start, their background and experience with tenants and flipping homes
[4:22] What made them to swift into real estate and how they did it
[6:42] The advantages of land investing and flipping land vs. other types of investing they did before
[8:45] What’s the process of buying land and how they deal with the buyer
[9:48] How do they choose the land, if they buy large enough parcels if they flip or divide
[12:47] The advantage of working together as a married couple and how do they handle their business as a team
[15:43] The strategies they use with the land purchase depend on the investors they have
[18:10] Join Venture with investors
[19:06] Their business goals for this year with their team and their family
Landon’s and Teria’s Top Tip’s
“Landon's family owned a lot of real estate from his grandparents, his mom, they owned a lot of real estates. My grandparents owned a lot of real estate in California. So, it was almost innate for us. We grew up around real estate, my grandparents on apartment buildings and things like that. So, we were familiar with it”
“We both love real estate, although we both had, day jobs as well. We still kind of did that on this site and our goal was; we know we wouldn't make enough money to live the way we want it to live just off our day jobs so it was more from a supplemental and putting away money for a great retirement for us it's kind of how we started”
“One big thing is, that you don't have to deal with you don't deal with any tenants It's raw land there is nothing on it and we have we basically financed the properties for buyers and it's on an automated note service and so basically it's like if someone's buying a car you pay on it until you pay it off and then you get the deed or the car note in your own title”
“Another really good advantage is you know every now and then we'll have a buyer who you know they can't make their note and we'll work with them and but the foreclosure process is literally a certified letter, we have foreclosed and that's pretty much, then we market the property again and sell it again so bear no real legal drawn-out legal processes when someone is unable to fulfill their end of the contract”
“We have a lot of different strategies it depends on the investor. Some investors may come to you and they say: I've got $20,000 I want to make 20% or 15% on my return, there are some investors they come and they may want to go half and half with you it's a simple as you market and sell it out I'll back it with the money so there are just different ways that we structure deals sometimes and then with the different investors that we have we try to make it fit according to that investor”
Mike’s Top Tip’s
“My personality is like unless I'm the boss and I think a lot of people that way or that way and whether it's general partners like you, the person that actually does it or your investors who are passive I think everyone's working towards that end goal where they can eventually retire or replace their income and instead of retiring, you're switching into being your own boss is the best thing”
Resources from Landon and Teria
Creekside Developments | Email | Facebook | Skype
ABOUT LANDON AND TERIA HARRIS
Landon and Teria Harris started out rehabbing single-family homes. After a few successful projects, they realized it was not for them. The amount of time, work, and capital were more than they wanted to manage. Their love of real estate led them to Mark’s Art of Passive Income podcast where they immediately knew the land investment was the right opportunity for them.
Within a week, they signed up for Flight School and shortly thereafter, joined coaching. That turned out to have been one of the best moves ever! Having the right structure, processes, and tools in place, their land business soared
Landon and Teria began land investing in 2019. Within a year, they were able to build a successful land business and replace Landon’s income. They are currently working to double their passive income in 2021.
They currently reside in Atlanta, Georgia. When not working in their land business, both Landon and Teria enjoy working out and traveling as often as they can. They are proud parents of four adult sons and enjoy every minute they can visit with them.