Real estate investing offers a promising pathway to financial success, but to make it in this field, you’ll need more than just capital. For the purpose of educating people and demystifying
real estate investing,
Seth Williams founded the platform
REtipster.
Today’s interview will reveal what inspired the creation of this platform, the challenges new investors face, Seth's advice on turning real estate opportunities into tangible results, and much more. So, if you want to turn a piece of vacant land into a cash flow, this article is for you!
Inspiration behind REtipster
Joy Wallet: What inspired you to start REtipster? How did you get started in real estate investing?
Seth: I started REtipster in 2012 because I realized I had developed a lot of specialized knowledge after investing in land for a few years. I learned I could help many people discover a new way to make money and get past some of the biggest obstacles and pitfalls where I got stuck early on in my journey.
Core mission
Joy Wallet: Can you explain the core mission of REtipster?
Seth: My mission is to help people generate a full-time income on a
part-time basis because that was how I got started. However, this can look many different ways. Some people choose to make it a full-time endeavor, which enables them to make much more than a full-time income.
Either way, I want people to know how to leverage their time to make great money without taking big, unnecessary risks. It’s an incredible thing when you
do the first deal and see how much money can be made. When the lightbulb goes off and you see it for yourself, it creates a real paradigm shift that changes how you look at work and money forever.
Popular courses
Joy Wallet: What are the most popular courses offered on your platform?
Seth: The
Land Investing Masterclass is our flagship course, which I launched in 2015. We have worked hard to keep it up-to-date every year as the land investing business has evolved over time (and it has evolved quite a bit). It’s been a lot of fun seeing people take the information and do amazing things with it. Some people have used this info to quit their jobs and create multi-million dollar businesses; others have used it to start a fun money-making hobby.
Content quality
Joy Wallet: How do you ensure the quality and relevance of the educational content on REtipster?
Seth: It’s a combination of staying immersed in the business myself and having many ongoing conversations with others who are actively working in the industry every day. It’s important to get honest perspectives from others (not just myself) because there are only so many things I can see and experience from my own perspective. Understanding the things people are struggling with reveals a lot about what they need to hear.
On top of that, it also requires a certain ability and passion for teaching. Many of the best real estate investors I know don’t have the time or desire to teach, or they have the “curse of knowledge,” where they’re so good and smart at what they do that they don’t know how to speak at a beginner’s level. Being a good teacher doesn’t mean you have to be the best in the world at the subject matter, but you do need to have enough knowledge and experience to get people to the next level.
Challenges for new investors
Joy Wallet: What are the biggest challenges new real estate investors face, and how does REtipster help overcome them?
Seth: The
first time a new land investor goes through the
lifecycle of a deal, it requires a lot of first steps that are unfamiliar and uncomfortable. It’s a BIG leap of faith, especially when they have to spend money to find motivated sellers and buy their first property without having total certainty about what the result will be.
Most people get through this by looking at the numerous examples from others who have taken the same steps and have found good results on the other side. As an educator, it also helps to acknowledge the uncertainty and scary nature of doing a new thing for the first time. For those who get through it, the second, third, and fourth times become much easier and faster.
Property recommendations for beginners
Joy Wallet: What types of properties do you recommend for beginners?
Seth: It depends on
how much money they have to work with,
which markets they are interested in, and their overall risk tolerance. Most people start with smaller properties they can buy for less than $10,000 in markets they know on some level. These are easier to start with because if mistakes are made, they will be smaller, less costly mistakes.
Finding undervalued properties
Joy Wallet: How does your platform help investors find undervalued properties?
Seth: We provide all the education and information they’ll need to know, along with all the marketing materials and templates to get started. We also have a community with thousands of experienced investors and monthly live calls with me, and we even put together free mastermind groups for the members who are actively looking for others to connect with.
Vacant lots to cash flow
Joy Wallet: What innovative tactics do you recommend for turning vacant lots into cash flow?
Seth: Seller financing is a great strategy for vacant land, especially if you want long-term cash flow to give your business stability and predictability. It does have some drawbacks, but for many reasons, it’s worth learning about and considering. We even have a whole course dedicated to it!
Aside from seller financing, there are many other ways to
generate cash flow from land. Vacant lots can be leased out to farmers, billboard companies, mobile homeowners, solar and wind farms, or even converted to a parking lot for RV and boat storage.
Avoiding common mistakes
Joy Wallet: What are some common mistakes investors make, and how can they avoid them?
Seth: I’ve seen investors make different mistakes based on where they’re gifted and weak. For example, a left-brained, analytical person can be great at sorting through data and sending out their marketing messages to all the right people, but if they don’t enjoy getting on the phone and dealing with people, it will be a challenge to close as many deals as they’d otherwise be able to.
Likewise, if a person is outgoing and loves dealing with people, they’ll be great at dealing with prospects, negotiating deals, and selling properties, but they may not have a great conversation rate because they could be weaker at the finer details of choosing a market or handling the due diligence before they buy a property.
In the beginning, if you’re working on your own (as most beginners do), there is a season of bootstrapping and slogging through the work, whether you enjoy it or not. However, as time goes on, it’s a great idea to find others to hire or partner with so they can help support you in the areas where you aren’t as strong.
The foundation of smart investments
Joy Wallet: Can you discuss the importance of due diligence in land investing?
Seth: Due diligence is extremely important when dealing with vacant land. There are many little issues that can turn into big problems, and these issues are much harder to see than they would be with houses or buildings.
It’s not common for land investors to lose money because we’re usually buying land at such a huge discount. However, when it does happen, it’s almost always because the land investors missed something in their due diligence. Sometimes, this happens because the land investor got lazy, and sometimes, the issue was hard to spot before buying.
Achieving financial independence
Joy Wallet: What advice would you give someone looking to achieve financial independence through real estate?
Seth: Get started. It doesn’t take any risk to get educated, but it does take a lot of energy and motivation to start doing things. When you start moving, your learning will grow exponentially, and many things will become evident that you can only learn through action.
Key skills for success
Joy Wallet: What are the key skills required for successful real estate investing?
Seth: It requires a bit of analytical ability, motivation, boldness, vision, and the ability to delegate. Of course, nobody is great at all of these things, but you need to be good enough to get by until you have some cash flow. That’s when you can start bringing on team members to reinforce the areas in your business where your natural gifts and abilities may be lacking.
Joy in life
Joy Wallet: What brings you the most joy in life?
Seth: I love spending time with my wife and kids. They bring so much light and joy to my life. Being a husband and father are two of the greatest privileges I’ll ever know.
