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I recently got an email from a guy named Ray Zhang.

In the email, he told me he has been doing real estate for a couple of years, mainly focusing on infill land flips, and this year his net profit is about $1 million, with about 3-4 hours of work per day.

His niche is similar to most of the land investors in the REtipster Community; he focuses on buying land at around 40 cents on the dollar and selling it back to the market at around 90 cents on the dollar.

In this interview, we'll figure out how Ray is pulling this off and what steps need to be taken to replicate this success.

0:00 - Intro
1:36 - What made you come to the US and how did that transpire?
3:21 - Is it possible to get into the land business in the US if you are not a US citizen?
4:48 - What online notary service have you used?
6:17 - What made you get into the land investing business?
8:02 - How has your business evolved over time?
12:21 - What was the change in direction that made all the difference for your business?
15:05 - How to avoid overspending on a deal in a hot market
17:33 - Price Negotiation Strategies: How to negotiate a lower purchase price?
23:17 - Ethics and Negotiation: Is it wrong to take advantage of the unprepared motivated seller?
27:12 - How do you overcome the fear of talking to someone on the phone?
29:24 - Can you hire and train a professional business negotiator?
30:43 - Can you implement your negotiation techniques by email or text message?
31:33 - Ray explains his selling process
32:14 - How much do you focus on big deals versus smaller infill lot deals?
32:56 - How many markets are you currently working in?
33:37 - Ray shares his approach to finding realtors in different markets
37:27 - What is your primary way of finding deals?
39:09 - How many Virtual Assistants have you hired to help your business, and what are their tasks?
40:51 - How did you decide which markets to operate in and spend the lion's share of your marketing dollars?
44:09 - When you think about how your business runs today, are there any specific tools or resources that you found critical?
45:22 - Is there anything unique about the way you're running your business that other land investors aren't doing?
46:38 - What is your response rate or your close rate on the number of mail units you set out?
47:48 - What percentage of the people you pick up the phone and talk to result in a sale?
48:18 - Is there a number in mind that you're trying to get the seller to do before they actually close on the deal?
51:01 - What do you think is your unfair advantage in this business that most people can't do or are unwilling to do?
53:57 - When you reflect on your first year and what you know now, what would you tell yourself to get you through that first year?
55:52 - What is your biggest fear?
56:57 - How do you ensure that your kids will have the same fire and motivation to succeed?
58:25 - What are you most proud of?
58:49 - What would you do if you got $100 million wired to your bank account and were not allowed to stay on your current career path?
59:54 - How to reach out to Ray?