Ep: 010 Aug 02, 2020
Interview with Land Investor Mike Ferreira - A Pig in Every Barn
We are extremely excited to have a real star in the land investing community on the show. He is way too humble to admit to that. But the numbers speak for themselves. We are here with Mike Ferreira. Mike has been in the land business full time since 2015 and was doing it part time before that. He's got a tremendous amount of experience and knows how to succeed in this industry.
Mike does around 10 to 20 deals per month. Most of those are term deals though he does flip properties as well. Mike is based in Florida and that is where all his business takes place. One subdivision in Florida can have as many properties as some counties in other states. It’s a perfect place to be a land investor.
Mike likes to cater to the impulse buyer. He will get new clients reaching out to him randomly at 2 AM after visiting his website. He funnels those new clients to his website or Facebook pages with online advertising. His preferred places to advertise are on Facebook and a few other land investing groups.
Most of the Mike’s deals cost a couple of thousand dollars. Sometimes he will pay more in the range of $9 thousand but those are in neighborhoods with actual houses, power and even water.
He is not interested in hand-holding his clients. A tour of the property is time-consuming and does little to add to your knowledge of the place. Mike is in a wholesale business and so customer service is not at the top of his priority list. He makes sure his clients know that and is upfront about the higher interest rates he charges.
People are generally trusting and Mike reciprocates that in his business. He’s not interested in trying to get one over on someone. The business is so trusting that sometimes people will just sign-over the deed to their property without having received a cheque yet. It’s kind of crazy. But Mike isn’t interested in ripping people off. He always sends the cheque because protecting his reputation is incredibly important to the long-term success of his business.
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