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Dec. 8, 2022

Ep 291: Buying A $10 Million Dollar Real Estate Land Deal For $600k With Ryan Pineda

Ep 291: Buying A $10 Million Dollar Real Estate Land Deal For $600k With Ryan Pineda

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Transcript

0:00 Hey guys, welcome to the hybrid this podcast we call these shorts. These are interesting deals stories that people have put together. So we have the one and only Mr. Ryan pinion on here. He's going to show a cool story with us. 0:10 Like as the land guys, right? Yes, sir. All right, so I'll share a land story. So some people watch my content. No, I bought a, I call it a mountain. All right, some, some might call it a hill, but I call it a mountain. All right. And, you know, it's this two acres that's just like in the prime part of like Vegas, like one of the premier communities overlooking the strip, full panoramic 360 view, like it's crazy. Like it's a one of a kind piece of property. Anyways, what what made it such a good deal was number one, I found it during COVID, back in 2020. And people were kind of scared, not sure it was happening. And I'm like, I don't care what's happening right now. This is like literally one of a kind piece of land, and I'm going to build on it and build my dream home. So, you know, I start negotiating with this guy, the way and actually let me step back. The way that I found this deal was, I was like, Look, I want a strip view piece of land for Vegas. That's what I'm looking for. And I want something like an acre, like what's available. So I go on the MLS, start searching up land. And I see that, you know, there's these pieces of land that look pretty good. For Strip view, and this neighborhood, they were anywhere from two to 4 million an acre. Okay. In like the golf course neighborhood. Yeah. Now, there was this other, like mountain right next to it, but just outside the area, but same views everything, right, and these guys were selling their acres for like, you know, 1.2 1.3. And I'm like, okay, that I don't need to be in the golf course. It's the same view. Like I'm cool with this. So I caught I call up the agent. I'm like, hey, you know, I like the land, you know, let's talk. He's like, Well, we own other pieces of land, too, if you're interested that are like, on that same mountaintop, and I'm like, really? Well send me the plot. So he sends me the plot. Yeah, started looking at it. And I'm like, Whoa, there's these two pieces of land right here that are like at the peak of the mountain, they're by themselves, I wouldn't have any neighbor, full 360 views. These are tight. But they were it was separated, like half of it was facing the Strip. The other half was facing the golf course, it didn't have Street View. And so they had it broken up where, you know, they wanted 300,000 For the one not facing the strip, they didn't think it was valuable. And then they wanted like 700 for the one facing the strip. Because it was a smaller face in the strip, but it still stripped you. I went to him and I said, Hey, I want the whole thing, both of them, because I was going to combine them to make one peak. And I offered him 400 grand. It was this was an off market deal. This was not even for sale, and it was during COVID. So and I'm a low baller. So it is what it is right? And I'm just like, hey, I'll give you 400 grand, like you're asking a mil, I'll give you 400. And, you know, they don't respond at all. And by the way, I would have paid a mil like I'm like, this land is crazy. But I knew no one was really interested because it's not even on the market and Skype can't sell it right. So sure enough, we start talking. And I'm like, Look, he originally hit this guy's on the line for like 20 years. And he's been trying to sell the entire mountain for like $10 million of everything. And I'm like, here's what we'll do sell it to me, I'm going to talk about it on YouTube. And I'm going to blow it up, okay. And consider this your loss leader. If I can guarantee you once I start talking about it, people are going to buy the rest of them because they're going to realize how great of a value this land is. Like, why pay two to 4 million over here, when you can go get these right. So long story short, we agree on $615,000 for the two, two acres right there, and I end up going in contract. A week later, I kid you not. The rest of them go under contract. And, you know, he goes under contract for I don't even remember what price but the guy goes up 20 He's like, hey, what do you want to sell it for? And I was like, I ain't selling my land. He's like, you know, name your price. You can wholesale it to us. And I'm like, I'm not selling my land. This is like one of a kind. I already know what I have. And sure enough, I buy it. And you know, obviously the market goes crazy since COVID. Right? Long story short, this guy around me who bought the rest of them. He owns all the land except mine. He's building about 100 different parcels of these Tesla homes that he's selling for like four to 6 million per row. And he's getting like, I want to say one point. He's getting around $4 million an acre. Now granted, he's building he's dividing them up into really small strip view lots, but like it comes out to four 4 million acre and they're not even as good as mine. And so, you know, between his between the course next to me where they're getting 4 million acre and everything my land is probably worth I don't know. I mean, it's one of a kind, I don't know what it's worth, but it's probably worth eight to 10 million. And I bought it for 600 grand. So it's a pretty cool story for land guys. 5:22 No, I think it's cool that you brought the value add the value add of non tangible of your of your influence to bring the value to the whole deal. And with him making $44 million, like an acre lots that just brings the value of your property way up. So you got like, mad equity out of nothing? 5:40 Well, and I just, I mean, I did what I said I would do, I was like, dude, yeah, you will sell that your goal is to sell the rest of this land, right? Like you want to be done with owning this, like it will sell. It's just people don't know it yet. Like how good you didn't market it properly. Yep, I was like, I will market it for you. Because it's in my best interest to see the land sell for high price to 6:01 100%. Yeah, that's powerful, bro, that is super powerful. That's a freaking great story Crazy for 600 and some 1000. It's worth about maybe a additional 6:11 48 10 million who knows two acres. Yeah. And I'm building a, like a 20,000 square foot house on it. I don't know if I'm gonna live there. But you know, four years from now, when the thing is done. We'll see where my life SAT. But I think that that house that we're building, one of my partners from tykes armor has designed it. And I believe that house is today who knows four years from now where prices are but today, I think it would sell for 30 to 40 million. And I think that we could build it for realistically, like 10 to 15. But we have so much that equity in the land like that's where the value is coming from. 6:54 Yeah, we've seen that over and over again with land where you can pick up something for 10 cents on the dollar. Nobody's paying attention to land and we're going super hard in that space right now. 7:02 I love land. I wish I had more time for it. But I'm kind of busy doing a bunch of other stuff. 7:09 Well, well let's get back to it. We appreciate you coming on here man. Killer story. I can't wait to see the land if we ever get a chance to and we're out there in Vegas. And it was a pleasure bro. Thank you so much. Really appreciate your time. 7:19 Appreciate you guys. 7:20 Have a great day guys. Right? Yep. 7:22 You

Daniel Esteban Martinez Profile Photo

Daniel Esteban Martinez

Host/ Ceo/ Speaker

I have been an entrepreneur since 2018. I come from a regular home just like most people. My dad worked on the roads in the Chicago area for over 30 years. He always taught me to work with my brain, instead of my body. Your body can only take so much abuse. I learned so much from my father. He always pushed me to work smarter and not harder.

I have owned and operated a trucking business for 2 years. I started learning real estate in 2019. Fell into the Data & Skiptracing business in 2020. My partner Anthony & I started Hivemind in 2021.

I have done a ton of different jobs coming up from painting, to door-to-door sales, telemarketing, truck driving, and loading trailers. What I learned most is that I want to stay in the digital business space. The leverage you can have delivering digital products to the marketplace can yield limitless possibilites.

I started The List Guys in 2020. It is a data and skiptracing service. We provide seller and buyers list nationwide. My clients have been getting great results and I am proud to help people killing it.

I started the Hive in 2021 with my partner Anthony Gaona. It is a real estate and business mastermind. It also comes with a all in one CRM, that can host unlimited websites and users.

Starting the Hivemind has been an amazing journey so far. Seeing one of our users make his 6 figure month in June 2021 leveraging our software, I know there will be plenty more to come!

Anthony Gaona Profile Photo

Anthony Gaona

Host/ Ceo/ Speaker

Hi! I am Anthony Gaona.
I’ve been in digital marketing for almost 15 years.I grew up in construction working for my dad when I was only 12 years old. Normally we had a ton of work or no work at all so a lot of my free time was spent learning how to generate leads.

It didn’t take very long for me to master online marketing because I became absolutely obsessed with it. For the last 15 years I’ve been generating construction based leads. At first I was running the projects myself. This led to sub-contracting all of the excess projects and eventually wholesaling the leads off to other construction companies.

One day I was preparing to build a single family residence for myself. In mid December, 2018, a simple YouTube search led me to the term wholesaling and the rest is history. The plan was to use my construction background to start flipping houses. By January 1st of 2019 I launched several marketing campaigns both on and offline for real estate seller leads.

Within about 4-5 weeks I had my first real estate contract locked up. It didn’t take long for me get a land lead where I made almost a full year’s pay on a single transaction. This came from a land lead and that forever changed my life.

I ran low volume larger land deals for the first two years of my real estate career. Like anyone who has been in real estate investing for an extended period of time, I started thinking about scaling my business.

Instead of deciding to vertically integrated and start hiring I imagined a model where I would teach my real estate investing methods to others. This would free up my personal bandwidth and allow for unlimited large scale transactions.

Currently our operations are expanding globally. The goal is to identify one person per major US Market that we can build a team around and drive traffic to so we can close high volume transactions together.

You can learn more about our vision and join our free mastermind by joining hivemind CRM on Facebook and all social channels