AIE 116: Land Flipping and There's No Such Thing as a Perfect Property

This week, Lauren brings you her interview with Pete Reese. Lauren learned that you can invest in real estate by flipping land. Mind blown. And get this – land can be flipped within a shorter period of time than you think.

Pete talks through the business model and how it’s systematized. They started with $100,000. He talks numbers and details of their deals, like how they aim for 50% gross margins. He talks partnerships. Pete gives advice, like: when it comes to due diligence, you can’t see everything in a computer screen.

Pete detailed some red flags, like squatters, trash, green streams, hog farms. Lauren learned a new term: hog lagoon. Those stories are great.

Lauren’s favorite quote: “I haven’t run into the perfect property yet.”

Second favorite quote: “It’s not all sunshine and roses.”

About Pete:

Pete Reese is the President of Reelvest Properties, a land development and investment company. With nearly two decades of real estate experience as a broker and investor, Pete has successfully purchased and sold hundreds of pieces of real estate for a profit over the years for himself and on behalf of his clients. He did $3.5 Million in Revenue in 2022 with his land flipping and development business, with his land flipping and development business, and he’s pushing to do $10 Million in 2023. Pete’s always looking for his next deal, including his longtime dream of his own private island. Besides his professional accomplishments, Pete is a proud father to three beautiful girls, keeps up with his family by working out and enjoying a vegan diet, and is the 31st great-grandson of King Henry II.

Connect with Pete:

https://turningprofit.com/

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