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6 contributions to Landman Community
Comping Land
Hi guys, I have a quick question when comping land. If there is no great land comps in the area would you guys ever look at new build homes sold prices and work out the lands value on 20% of the GDV once homes are built on it as I have seen other people teach this way? Thank you!
2 likes • Aug 1
The residual method is right, but a flat 20% on the GDV is the weak link. That percentage breaks at the margins. In cheap dirt markets, land takes a lower share of GDV. In constrained markets, it runs far higher. The ratio is an output of comps, not an input. To firm the math up, pull the last 6 to 12 months of builder lot purchases from county sales records. Look for deed transfers to LLCs that subsequently pull building permits. That is the tell. Compute the actual lot-to-GDV ratio locally. Then sanity-check that output against what builders say on the phone. Normalize by the lot, not by the acre. Builders buy buildable footprints. Subtract site prep from your raw parcel if the comps already had it. If the comp had utilities at the road and a flat pad, a raw parcel only compares to that finished lot after backing out those prep costs.
0 likes • Aug 2
glad it's useful. the LLC-to-permit trail is the part most people skip and it's all sitting in county records for free
How 31 of 52 parcels died for $0
Just ran a batch of 52 rural acreage parcels. 31 of them died for $0. I don't order my due diligence by what matters most. I order it by what's cheapest and fastest to run. A bad parcel needs to die in two minutes before a single dollar gets spent. Here's where the 31 died. Legal and physical access killed 14. Wetlands on the NWI overlay killed 9. FEMA flood took 4. Slope and buildable area killed 3. Utilities and septic killed 1. Access and wetlands together killed 23 of 31. The quiet killers. Most operators leave them for later because they take manual work. I front-load them. 60% of the list is gone before spending any real time. Just 2 to 4 minutes per parcel on the free layers. The 21 survivors get the slow work. About 15 minutes a file. Calling to confirm allowed use with the county directly. Never trusting the listing for that. Running the expensive checks on septic feasibility and utilities. Six of these got flagged priority. At volume, speed of elimination beats accuracy of analysis. Perfecting the read on one parcel is a way of avoiding the list.
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We Just Closed the Biggest Payday of Our Year on One JV Deal
Wanted to share something from our team at Landman.io, because it captures exactly why we love this business. In mid June we closed on a buy for $712,000, sell for $1.6 million 270 acre parcel in Grady County, Oklahoma, as a JV partner. We split it into 11 individual lots so more buyers could find the fit that worked for them, everything from smaller acreage tracts to a lot with its own pond. Within the first two weeks, our first two lots sold, both at full asking price Along the way we also ran into a real issue, an old mineral operator had left some soil staining and berm erosion on part of the property. Instead of cutting corners, our broker on the ground handled it the right way: repairs, remediation, documentation, all of it, because the people buying this land deserve a clean start. Now a few more lots are actively closing, and we are in conversation with a group interested in the remaining acreage for a larger project. None of this happens without the right people around the deal. It is a good reminder of what is possible when a JV is built on trust, clear communication, and doing things properly even when nobody is watching. If you are working through a subdivision play of your own, or thinking about your first JV, happy to talk through what we learned on this one. Always glad to connect with others building in this space.
We Just Closed the Biggest Payday of Our Year on One JV Deal
2 likes • Jul 9
Killer deal. The ROI is great, but splitting 270 acres into 11 lots is the real win here. You just took an asset that needs a unicorn buyer and turned it into inventory that matches normal demand. More lots means way more shots on goal per acre. It's the exact same math we look at on the volume side. Love seeing this logic applied to the big stuff.
From Golden Handcuffs → Land Investing (+ creative finance)
Name: Kay Walker 📍Location: Charlotte, NC Background: IT Project Manager turned STR operator — built a pretty large short-term rental business across NC and GA, scaled it over almost six years, and somewhere along the way realized I'd built golden handcuffs for myself. Huge staff, huge overhead, and a business that was taking energy instead of giving it. So I burned the boats (sold a portion of it), went all in on land in 2024, and genuinely haven't looked back. Current Stage: Full operator mode — in-house direct mail (I design, print, and produce everything myself out of my Charlotte offices), taking title, doing light improvements/value add, and creative finance on the acquisition side. Creative finance in particular has been a game changer, it's opened the door to larger deals and reduced capital costs in ways that straight cash offers just can't. A big focus of Q1 this year was bringing dispositions fully in-house, and that overhaul took real energy... but it was absolutely worth it. Removing that outside dependency has eliminated so much friction, kept more money in the business, and made the whole dispo process move faster. Vertical integration is real. I'm also a licensed NC broker, which helps more than people realize. Still intentionally lean on the team side, and I like it that way (Me, local TC + part-time mail guy). I focus on mid market deals, from $40k to $600k range (market value)... My business (and small team) is extremely localized, which I think is one of my advantages. My weapon of choice: Direct Mail 💌 (always has been) 90-Day Goal: Tighten my dispo process and cut my average days on market significantly — I know it's a bottleneck and I'm locked in on solving it. Biggest Challenge Right Now: Building systems fast enough to protect my time without losing the quality control that got me here. That tension is real. What I'm Looking For: Community, honestly. I believe deeply in operating from a place of contribution — showing up to add value first, not extract it. Since jumping into land, some of the most incredible people I've ever connected with have come through this journey — especially women entrepreneurs I would have never crossed paths with otherwise. That alone has made it worth it.🥂
1 like • Jul 5
"Fast enough to protect my time without losing QC" — that's the whole game at volume. The only thing keeping me sane lately is hard-separating the kill-layer from the judgment-layer. I let cheap rule-based checks wipe out the obvious junk. Flood zones, landlocked parcels, crazy pricing. Then actual brain cycles only get spent on what survives. Keeps the QC sharp where it actually counts. Huge respect on running dispo in-house, too. Most people run from that piece.
1 like • Jul 6
@Kay Walker 100%. The stuff everyone hates doing is where the real margin lives. Take your in-house dispo. Absolute pain to stand up, but now nobody else gets to bottleneck your deals. Same concept on my end with the initial screening layer. It's just boring and unglamorous. Most people skip right past it, which is exactly why owning it is an edge.
Volume Negates Luck
Hey guys, I wanted to share something that was sort of mind blowing, but at the same time, can really be that simple. What I mean is: more input = more output. The last few months, I've been capped out around 5 contracts per month. Which I can't say I'm mad about, but wanted to push it and see if I can start increasing that number. Since I've been tracking my KPIs, I know that I've been hovering around 35-40 offers per month to leads I speak with. That is yielding on average 4-5 contracts a month. So to push it, I decided, what if I just increase the amount of calls I make to leads, and make more offers (Keeping the marketing spend the same). Long behold, in the month of June I made 74 offers which yielded 9 contracts. More Input = More Output. Sometimes it really is that simple. Just thought I'd share this because it's one of those things we all know, but it doesn't really click until you experience it for yourself. At least, that's how it was for me.
2 likes • Jul 2
Spot on. The math always wins when you push the volume up. But hitting 70+ offers a month usually breaks things upstream — you start realizing the real bottleneck is how fast you can screen what feeds those offers. If the screening drags, that extra volume just means throwing paper at dead parcels. Conversion tanks even as output grows. On bigger batches you have to kill the obvious trash right away: flood zones, landlocked junk, crazy pricing. Trash them first so the extra offers actually land on dirt you can close. Solid work hitting 9 contracts.
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Alex Bolt
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Александр Болтенков

Active 8h ago
Joined Jun 30, 2026
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