#153 - This Off Market Land Strategy Makes Him MILLIONS (Here's How!!) | Cody Bjugan

So explain to me what that is.

Yeah, so...

So first, you've mentioned wholesaling.

First, let me start off saying that wholesalers, one of the things I admire most about wholesalers is you're the best off-market prospectors in the world, right? Like, you know how to put together off-market deals, all right? Our company, same exact thing.

We're all about off-market.

And the big reason for that is because if you're not in control of your own deal flow, it's kind of hard to scale your company.

So everything we do for the most part is off-market.

Usually anything on-market, it's either overpriced or there's something wrong with it.

With that said, so we go find off-market land.

that has development potential.

That is the key, development potential.

And we can talk about the criteria of what makes a land have development potential.

But through that development potential is where we have the opportunity to bring extreme amount of value to the asset.

I think you and I could both talk about, you know, the way to make substantial wealth in real estate is there's numerous models out there on how to increase the value of the asset.

Mm-hmm.

And so how we increase the value of the asset is we take that land.

We get it under contract.

We take control of it.

We don't own it.

We take control of it because usually our closing is 18 months to two years out.

So we take control of it, and then we get it entitled.

We get it entitled for land development where the land can be developed.

And so it's called land use approvals or you can call it entitlements.

And so we get it approved for development.

And then we, you know, over the last 23 years, we've developed the land, we've built houses, we've done it all.