Episode 15: Texas Land Investments with Jason Casco
In this episode, Broker/Owner Brady Bridges sits down with Jason Casco to discuss how he got started with land investments, the differences between buying land and a house, and the importance of having a vision.
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Jason grew up moving around the country and flipping houses along the way. He was focused on building his corporate career before taking step back to prioritize his family and transition to financial planning. After plenty of research and exploring different options, he added land investment to his own portfolio and sent out 300 offers to landowners in New Mexico as a trial run. He was able to close three deals from those offers before connecting with a friend to try the same thing closer to home in Fort Worth.
Once Jason and his partners starting making offers in Fort Worth, the volume of those offers went way up: "We sent out about 1,800 offers and got three deals back...at our peak, we were doing 6,000 offers a month, over $30 million of offers going out." He's very clear that their model isn't for everyone and sellers are getting the ease of selling to them, while still leaving room in the price for the investors to make improvements and make money when they sell themselves.
Jason said that working with land tends to be the opposite of a house in that "the larger the house...the higher the dollar per square foot - and land is really the opposite, the larger the acreage the lower the dollar per acre," because there's only so many people who could afford a large, expensive ranch - and it's common for those owners to be "dirt rich and cash poor." He mentioned that part of the value he provides with his partners is the vision to transform the land, and sometimes relatively inexpensive changes like adding a driveway, putting in a culvert, or clearing some trees is enough to make it more desirable for buyers.
Jason can be reached on most social media @jasoncasco or at jasoncasco.com for financial planning assistance.