This episode reports back from Logan Fullmer’s DPA (distressed property acquisition) summit in Austin with 400+ attendees, exploring the growing trend of acquiring properties with condemned improvements, undivided interest issues, and complex title situations. The strategy requires significant operational commitment but can deliver 4X net returns for operators who master genealogy research, private investigation, and legal coordination.
Key Takeaways:
- 1% Implementation Rate at Large Conferences Most attendees at big events never execute on what they learn, creating opportunities for those willing to do the difficult work of mastering distressed acquisitions with messy title situations.
- Focus Capital Where the Market is Heading Serious Land Capital is repositioning to fund distressed properties (including those with condemned structures) where land drives primary value, following growing operator demand in this increasingly popular niche.
- High Returns Require High Operational Intensity Operators achieving 4X net returns on distressed acquisitions invest heavily in genealogy reports, private investigators, legal resources, and aggressive follow-up that most competitors won’t commit to.
Listen to the full episode for insights on how capital providers can adapt to emerging real estate niches and why small targeted conferences often deliver better ROI than large industry events.
(Podcast transcript below)
Hi, Chris Duff over at Serious Land Capital, vacant land funding partner, reporting back after going to Logan Fullmer’s DPA summit here in Austin. Huge turnout, way bigger conference than expected. I think there was at least 400 of us that were there in person.
was kind of taken aback when initially walked into that room. I usually don’t go to those larger conferences anymore, just because generally the output from them is less consistent to some of more targeted small conferences like Dave Benison’s on conference, which I’ve mentioned several times. Nevertheless, you
It was local, easy for me to drive, 20 minutes, a cheap ticket and knew some other land folks going. So always worth checking in when it’s that convenient there. So we were able to have some really good conversations, found some really solid funding leads that could be of possible interest.
or mutual interests on our behalf and then other folks who are pursuing more of these distressed property acquisitions. And we’re effectively exclusively focused on land, but a number of these distressed acquisitions will have condemned improvements or just structural improvements that are in terrible shape. They’re going to have to be cleared off anyway.
We’re okay purchasing properties that are improved so long as that’s not driving the primary value of the underlying real property. So it was encouraging to hear that, hey, there’s another avenue that, you know, there’s a lot of capital need as well. You know, these are tricky transactions to mention.
You know, it’s kind of like another Hormozi thing too. You get these big conferences and maybe 1 % of attendees actually go back and implement. And, you know, this is a particularly difficult type of transaction to manage. Yeah, I mean, the potential profits are high. You know, some of these larger operators.
like Logan’s and some of his associated businesses, I think he kind of has ownership stakes across multiple different separate distressed property businesses. And they can get upwards of 4X net returns on each dollar into the business. mean, that’s extremely good. That’s more than what we’re getting for sure. But our deals…
are less complicated on average to go after, like me personally, I wouldn’t want to dive into that. I don’t have the time to be going into genealogy reports or private investigators to track down people, but the folks that do and are able to start sorting out some of this undivided interest, start putting a deal together, learning at least some of the base techniques.
and knowing who to reach out for to assist in providing further resources. We’re definitely interested in providing capital. And again, we already got some really quick leads where people were having success in this venture, but running into a capital constraint. So it was interesting to see that, okay, the market may be shifting a little bit more in this direction. I think even a year ago, like this type of…
Strategy was just not as widely discussed. know Logan’s been around for a while, but I know his Brand has grown a lot more probably over the last roughly two years or even a little less than that. I know Clint Clint Turner also is pushing very similar type of of deals more recently too, so You know, partners and I were we’re capital guys, right so we can just follow
where the market is going, update some of our offerings and types of properties that we will fund. And even if we’re not doing the underlying groundwork necessarily, we can understand enough of it to provide further funding accordingly. it’s just keeping your ears to the ground and realizing, okay, where were people heading? And again, this was a very large.
conference. A lot of these real estate ones, don’t tend to get that big for attendees showing up. mean, people were coming from all over the place, 20 minute drive from me, but shout out to some other land buddies, Mickey flying all the way from Germany. mean, like the day before from Germany for a one day conference, flying to Germany the day after. That is some real commitment or
Jason Wolbrink coming up from Peru just for this one day conference. Those are not easy travel schedules to make up for this. So, clearly there is some real traction behind exploring this type of deal structure. So, just wanted to…
mentioned some of those initial takeaways. Yeah, as far as the actual techniques, would say, yeah, you got to your hands dirty in there, have a lot of attention to detail, be willing to really push the envelope as far as follow up and aggressive communications. But yeah, I mean, there’s really sizable profits within this particular niche of the industry. So that’s certainly what makes it of.
interest to myself as well, at least from a capital side and just having a few quick conversations that already seem to have some solid deals from that type of tactic.
Otherwise, yeah, I mean, it’s always just great seeing, you know, other land folks in person, you know, especially folks I don’t see as routinely or aren’t based in, Austin. So, you know, I would just encourage many of you, if you haven’t attended, a live event, even if you only go to one or two a year, and you can kind of figure out what works like these large ones. I don’t like as much. but, know, because again, it was local and everything great.
Worked out there or yeah, you could target some of those smaller ones that are you know, less than 100 people less than 50 people or so forth that could be good, but you know, just being able to spend several hours with various folks in the same space and you know get away from being behind our computer screens and just you building hopefully better long-term relationships like it’s always an energizing Feeling for me
to show up to these type of events. And I always feel like the bonds are strengthened even further into sharing laughs and various updates, what’s gone wrong and everything. Nothing is ever pure rosiness. Or if people purport that, you should probably back away slowly, because if you’ve been in business long enough, there’s always problems to be solved and nothing is always going perfectly.
or you’re probably just not pushing the envelope far long enough. So at least that is my perspective. So yeah, if you’re interested in learning some of those techniques, again, I would check out, you know, Logan’s kind of the OG there and I know his coaching cohorts are like, it’s a pretty pricey coaching, but you know, people are getting real results. I think it’s like 30K a pop to get coached by his own team.
And then I think there’s some like subsidiary coaches or folks you can kind of jV with to learn the ropes on these type of deals. Obviously, Clint has his own thing too for coaching in this. So I wouldn’t be surprised if this particular asset class started to grow a lot more. Again, for the folks who really have the wherewithal to build their business around it, I don’t think this is something you can kind of just…
add onto your normal operations. you know, at first glance, think this is like one, have to kind of shift all of your operations around to do it well. otherwise it probably isn’t worth it. so just something to keep in mind there. Some people might disagree. Maybe you’re, doing a mixed mixed bag here, but yeah, like just looking at, the level of reports and other resources and attorneys and so forth hardcore.
title searches and everything that need to take place for these type of deals. Like it’s not for the faint of heart, but yeah, again, it’s risk, risk, more risk equals more reward. So if you want those potential Forex net returns that some folks are getting with little capital commitments on average needed for these types of deals, you’re going to have to put a lot of sweat equity in, in order to get that. you know, it’s fair warning.
And I don’t think anybody’s trying to hide that fact. Folks who are doing this well regardless, so it’s probably gonna be a significant moat anyway, because most people aren’t going to want to orient their business around this. But I just wanted to share at least some of my thoughts there, and that my partners and I are a lot more interested in advertising our funding services for properties like these, because we think we have…
enough of an initial handle on it. There’s clearly demand for more capital. So you’ll see us in that space as well. And just something to keep in mind. If you do start to pursue these type of deals, hope to partner on some of them soon. And when you do have a deal, a seriousland.capital for any of your funding needs, land daily diligence for zero cost review of your land deals and landpricer.ai.
for most simple and accurate way to price land. With that, take care, talk to you tomorrow. Bye.
