All Forum Posts by: Austin Hendrickson

@Jim Young @Steve B. I too would love to hear your current thoughts. I'm very close to signing up as a VestRight student myself, but would like to have a better picture of how much it's really going to cost to get deals done once I complete the course. I had an intro call with them a few months ago, and was impressed. However, like many on BP, I have also bought expensive courses in the past and found that the money needed to make the program work wasn't 100% clear out of the gate. I am especially interested in knowing how much capital it takes to get entitlements organized, etc. Any experiences you have had that could shed light on this would be very helpful.

Hi Kelly, I’m in the same boat now as you were at the time you posted this 11 month ago. Super curious to know how things went for you afterwards? Did you end up joining the program?
Would love to connect for your experience, sending dm soon. Thank you!

Feel free to shoot me a DM. I completed the course 3-4 years ago and am still active in land development.

0 Votes

I've got a decent amount of experience investing in land. It's a niche real estate play and it really depends on the specific piece of land. Most of my deals are residential land deals that I end up selling within a few months or a year. I've also done development deals with larger builders.
If you are purely talking about land without development then it really doesn't generate much cashflow unless its farmland, hunting etc. Keep in mind that you will be paying the property taxes with no income to offset but on vacant land they are usually reasonable.

2 Votes

I have taken their course and can say that Cody and David are the real deal and the amount of value in the course way exceeds the price. They work in a super unique niche and are the best at what they do. I personally have done one land development deal and am pursuing multiple others right now. It's not an easy business and ultimately the results will depend on the work you put in, just like most things in life.

0 Votes

@Matt Millard I work for a new real estate development company in Minnesota which is owned by the same ownership as the MN Vikings.

1 Vote

@Devon Kennard welcome to BP! I work for a real estate company owned by NFL owners and work pretty closely with personnel on the NFL side as well. If you are ever in Minnesota and have time to meet up let me know.

2 Votes

@Jeremy Dockendorf I used to work for a St. Cloud public accounting firm in the real estate group and can make an introduction to a CPA and RE investor.

0 Votes

@Heather H. basis of the building is based on purchase price less land value

1 Vote

Interesting topic, I will give your book a read! If you had to summarize the main point(s) of the book what would it be? Buy for long term cash flow, long-term debt and have adequate reserves?

1 Vote

@David Monroe if an investor does not use capital gains to fund the OZ purchase then no QOZ tax benefits will arise from the investment.

You can use cash in addition to capital gains however it will dilute the tax benefits.

0 Votes

All Forum Posts by: Austin Hendrickson

Austin Hendrickson has started 1 posts and replied 131 times.

Post: Hello BiggerPockets! New PRO here

Post: Anyone hear of Vestright land deals

Post: Land a good Investment ??

Post: Anyone hear of Vestright land deals

Post: Introduction to BiggerPockets

Post: Introduction to BiggerPockets

Post: Recommended CPA preferably near St. Cloud?

Post: Opportunity Zones - new potential PERMANENT tax savings?

Post: J Scott's Recession Proof Real Estate Investing: Ask Me Anything!

Post: Opportunity Zones - new potential PERMANENT tax savings?