How to Build a Land Buying Machine with Dan Haberkost
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
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About our Guest
Dan Haberkost
At the age of 25, Dan Haberkost has managed to build an impressive real estate business & portfolio that allows him the freedom to live & work where he wants while spending a tremendous amount of time in the mountains and on the beach. Dan’s first foray into the world of real estate investing was as a teenager when he managed a portfolio of properties for his employer at the time, while still in high school! Dan took the lessons he learned from these early experiences and brought them into his own business allowing him to shorten the learning curve and make an enormous amount of progress in just a few years which has given him complete freedom in his mid twenties. Dan wants to share his experience and insight with others in the hopes that his story will motivate and inspire them the same way he was inspired by so many podcast guests before him!
