Show Notes: https://retipster.com/235-steve-hokanson/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA Seller Financing Masterclass: https://sellerfinaningmasterclass.com Stride: https://go.retipster.com/stride/yt-oIyKYaWizSA In this episode, I sit down with Steve Hokanson, a land investor and founder of Thacksland Books, and one of the few people who has seen the actual numbers behind dozens of land investing businesses. Steve provides fractional CFO and bookkeeping services to land flippers, which gives him a front-row seat to the real profit margins, biggest mistakes, and surprising truths in our industry. We talked about: - Why 40% of land investors are scaling back or quitting - Where people overspend (and don't even realize it) - How to do seller financing the right way - The silent expenses that destroy your margins - What separates the most successful land flippers from the rest If you're trying to grow your land business and want to avoid expensive mistakes, or if you want a realistic look at the current land investing landscape, this is an episode you don’t want to miss. 0:00 - Meet Steve Hokanson from Thacksland Books 1:40 - How Steve escaped his W2 job through land 3:09 - From desert squares to bigger land deals 5:15 - Why big land deals are scary—but worth it 6:25 - When bookkeeping for land clicked 8:01 - Why land investors need a specialist bookkeeper 9:35 - The tax trap CPAs don’t understand 12:15 - Common seller financing mistakes 15:10 - The #1 money leak in land investing 18:12 - 40% of land investors are scaling back 19:49 - What top-performing investors have in common 21:45 - Are you overpaying for VAs? 24:39 - Realtor vs self-listed sales: which is better? 26:37 - Best practices for seller financing deals 29:00 - How funding impacts margins 30:27 - The truth about double closings 33:10 - Why Steve prefers Xero over QuickBooks 36:37 - Profit margins by deal size and property type 39:39 - Knowing when to scale back your team 41:12 - What high-volume mailers are doing right 43:00 - How to make your bookkeeper’s life easier 45:40 - When should you stop doing your own books? 48:08 - One habit every land investor needs to change 50:16 - Steve’s Ponzi scheme experience & warning to funders 55:35 - Final thoughts & how to reach Steve #landinvesting #landflipping #landinvestor #realestatestrategy #bookkeeping #realestatetax #sellerfinancing #landbusiness #retipsterpodcast #realestateinvesting #landfunding #selfemployedfinance #landdeals #outsourcingtips #realestatecfo #selfstorageinvesting #realestateportfolio #landdevelopment #cashflowfromland *🙋🏻‍♂️ Get the REtipster Newsletter (It's FREE)!* https://welcome.retipster.com/newsletter/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA *🚀 Land Investor’s Action Plan (Free 5-Day Course!)* https://welcome.retipster.com/5-day-email-course/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA *⚠️ Land Buyer’s Survival Guide (Free 5-Day Course!)* https://welcome.retipster.com/survival-guide/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA *👉 10X Your Income from Land Investing* https://welcome.retipster.com/webinar-invite/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA *😀 Join the REtipster Forum!* https://forum.retipster.com/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA *🛠️ All My Favorite Tools and Resources 🛠️* https://retipster.com/resources/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=oIyKYaWizSA