Dec 28, 2021
Why you've got to check out this episode:
3 Rs Read, Resource, Reflect
Read:
The ONE Thing: The Surprisingly Simple Truth About Extraordinary Results by Gary Keller
The 12 Week Year: Get More Done in 12 Weeks than Others Do in 12 Months by Brian Moran
Resource:
Reflect:
"If you do for the next three to five years what other people won't do, you'll be able to do with the rest of your life what other people can't do." - Zig Ziglar
With property to maintain and renters to handle you have your
work cut out, add in rehabs, renovations and rodents and you are in
headache territory!
What if you could earn passive income every single month without
having to deal with any of them?
And you only had to make a one-time sale and you get to enjoy your
' terminal days'?
In this episode, Mark Podolsky shares how land investing is an excellent choice if you want to think about passive income and having that financial security that you don't get from any other investment vehicles.
While you need to find ways to raise capital or bring onboard joint venture partners for other real estate investing strategies, you don't have to with land investing.
And Mark gives his tip on how you can best do it and keep three hundred to a thousand per cent returns to yourself.
And if your worry is about those defaulting payments, Mark's advice has got you covered.
Listen to his game plan, which will not let you be at a disadvantage but rather give you higher investment returns, instead.
Talk about total freedom to work when and where you want to.
Mark J. Podolsky ( also known as the Land Geek
) is the Managing Member of Land Geek Enterprises, Managing
Director of Frontier Properties, Founder of GeekPay.io, and a
former Investment Banker at Dinan Company and Dental Consultant at
AFTCO & Associates.
He is widely considered the Country's most trusted and foremost
authority on buying and selling raw, undeveloped land within the
United States.
He has been actively investing in Real Estate and Raw Land since
2001 and has completed over 6,000 unique transactions. Mark's
company, Frontier Equity Properties, LLC, is an A+ rated BBB real
estate company.
He is also the host of one of the top-rated podcasts in the
Investing Category on iTunes aptly titled The Best Passive Income
Model and the host of the Land Geek Podcast- Work Smart. Earn More.
Learn How.
Topics Covered:
02:07 - Why land investing is an interesting niche to focus
on
03:32 - How do you earn passive income from land investing?
08:49 - Best locations where you can find and buy a raw land
10:06 - Extending your return on investment even if the land buyer
is in default of paying the promissory note
10:58 - What is so promising about land investing that he quit as
an investment banker and went full-time twenty years ago?
13:01 - Earning the moniker 'Land Geek'
13:20 - Branding and marketing himself as the 'Land Geek'
15:42 - Mistakes people make when getting into the land investing
niche
18:42 - How to avoid buying lands with environmental issues
19:25 - Going by the simple philosophy of 'happy customers
guaranteed'
21:15 - Funding his land deals
22:04 - Scaling his business with VAs
23:09 - What his 'terminal days' and the rest of the week look
like
24:36 - One important thing he does on his 'terminal days'
25:02 - Talking about the companies he owns, what are they for
26:07 - What you should know when thinking about earning passive
income
27:33 - Dealing with 'shiny object syndrome'
28:45 - The one reason he loves this favorite brand of his
29:00 - Two favorite books he reads in combination and his takeaway
from these
30:30 - Tools he enjoys using and recommends
32:34 - His favorite quote
33:26 - Mark's final words of wisdom
Key Takeaways:
"Landed investing is a really interesting niche for me because it's just a one-time sale. And then I get passive income every single month. And I don't have to deal with any renters, rehabs, renovations or rodents." - Mark Podolsky
"It's a simple game. All we want to do is create enough of these land notes where our passive income now exceeds our fixed expenses. And we're working because we want to, not because we have to." - Mark Podolsky
"I had already done so many transactions that it was really easy for me to sort of articulate everything. In the beginning, I would just teach people how to do what I do. And then as they started gaining success, then they start telling people, oh, my gosh, this thing works. And then it starts to snowball from there." - Mark Podolsky
"You don't want to buy land with an environmental issue. If you do, you could be liable for millions of dollars of cleanup. To avoid that, you just go to epa.gov. You look up Superfund sites, and you avoid them." - Mark Podolsky
"I would say don't be a land snob. Just because you don't like that land doesn't mean someone else wouldn't, so you buy any asset 30 cents a dollar, here's someone else on the other end of that deal." - Mark Podolsky
"Because our margins average 300 to 1,000%, I never recommend anybody taking an equity partner. If they need capital, take a debt partner, get as much money as you can, 2%, 5%, 10%, 12%, 16%, it really becomes irrelevant at those margins. If you've got friends who are making 0% of the money in the bank, help them out." - Mark Podolsky
"To scale anything, you need a team [Virtual assistants]. Because otherwise you just have a job." - Mark Podolsky
"It's really just about deepening relationships on 'terminal days'. I want to spend time with the people I love. And if there's somebody I've been neglecting, maybe I'll call them. And so that's really what I like to do because at the end of our lives it's really about the quality of relationships." - Mark Podolsky
"Now I've avoided financial insecurity. And I think that's really what we wanted to do. For example, the stock market goes up; it goes down, you constantly sort of feel financially insecure. With real estate and cash flow, you avoid that. Not that real estate can't go down. But it's not nearly as volatile as a stock market." - Mark Podolsky
FREE course
Double your money in 30 days or less. Click here: https://www.thelandgeek.com/quickdeals
Connect with Mark podolsky:
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