Coffee Talk with Mark Podolsky!

Good afternoon. I, I am joining you with coffee today. So how's it going?

It's good. I'm wearing my Tancha Hokanson boot camp shirt grit this morning. I'm excited for boot camp. Are you excited for boot camp coming up? Couple weeks.

I am excited for boot camp. Two weeks from today, we kick it off, it's three days.

Three days of content, three days of intensive training. I love boot camp. Even though, even though we're not getting together, it's still cool, even virtually so. And we are going to be vastly improved from the last virtual one. We learned from the surveys to improve for this one. But for those new people that don't even know who we are, who are we?

So land geeks. We are land investors. We buy and sell land. We buy land for pennies on the dollar, turn around and sell it either for cash or for terms. So terms means owner financing. And it generates a passive income stream for us. And the entire goal, as you say lot mark, is to get to the point where your passive income from land investing exceeds your fixed expenses. And when you get to that point in life, all kinds of opportunities open up. As far as, I mean, anything, right? You can work where you want, you can quit your job, spend more time with your family. It's awesome.

It's amazing, really. It's all about total. We're just using land investing as a vehicle to become totally free to work when you want, where you want and with whom you want. And really unplug from the matrix, essentially. I mean, we've got people who do this all over the world. They travel. All you need is an inexpensive laptop and an Internet connection. You're in business. And it's so funny, as I was talking to Roberto chavez, he's at 20 grand a month now. Passive.

That's amazing.

And you know, he, but for him, like, he's a full time attorney, he went back to cut down to three days a week. And I'm like, well, how's this really impacted your life? He's like, it's, it's just an amazing feeling knowing that I can be fired at any point in time and I'm fine, right? Matt Forbes had said the same thing. He's like, I'm number two in my company for sales. He's like, but I could be fired at any point in time and it wouldn't matter. He's, he's like, yeah, I might have to lower some expenses, but I'd be fine. We'd be fine. And it's just, you know, you know, you've got security, the piece of it. Just that, that peace of mind, going to bed every night knowing that my passive income exceeds my fixed expenses. I can do so much I want in life. It's amazing. So we're getting some comments already, but I don't even see how they're saying it's good friends and hi, gentlemen. But hello, everybody. Leave a comment. As always, every Friday we're gonna do our giveaway and if you've left a, you know, comment during nightcap or this week to not today, do so give us some questions. But we have an interesting topic. What is our topic this morning?

Well, this is more for the people new to this model. You know, people are discovering this every day, which is pretty cool. And you know, they discover it on Mark here on a lot of podcasts. I've had a lot of people recently, they discover it on Amazon, perusing books and they run into Dirt Rich, which is pretty cool. They, they find us just online randomly looking for passive income opportunities. And a question that we get a lot is, given the current climate in real estate and in the world, is this a good time to get into land investing and are there any things to be worried about?

Right, right. So I think it's a legitimate question, but the answer is there's all, there's always opportunity, literally in any market. It's not just real estate, but there's always opportunity. It's, it's always a good time to be buying assets, pennies on the dollar. The legitimate question, I think is really, you know, given that the market has risen and prices have risen, but that ratio still remains the same. So you can still buy 25, 30 cents on the dollar because the prices have gone up now. So everything's just adjusted upwards. Now the inevitable recession is going to happen and everything will come back down, but the ratios still remain the same. So, yeah, it's, I mean, we can't keep anything in inventory. We're trying to buy like crazy. All our clients are crushing it. Kevin sue just got 6,000amonth passive. So, you know, it's amazing. He's like, he's like 18 years old. I don't even know. I mean, Kevin started. Yeah.

I mean, he's still coaching six months ago, didn't he?

Yeah. So, yeah, it's not a good time. It's a great time. And what's. You want to be a land investor? It's going to take, you know, a good, what, three years to really move the needle? Three years is coming either way. So either by another three years, you're going to have passive income that exceeds your fixed expenses or you're not kind of thing. I think that's a quote, but. Aloha, Don Paresa. It's always good to see Don. Jason Hoffman says. Hey, guys. Good morning. What's up, Jason? Facebook user says, can't wait for passive income and believe strongly that it is coming. I do too. It will. Oh, it's Racine, the deal machine. Su guy, Good morning from Hawaii. I Racine, Natalie Mino. Good morning. Hi, Natalie. So, I mean, what do you think, Scott? I mean, do you think they're mean? Do you agree we could play devil's advocate?

Yeah, I wholeheartedly agree, but I know now what I didn't know then. Right. But you know, I think you're exactly right. We purchase these assets at a deep discount, so. And we teach you how to do that. You know, it's, it's. There's a learning curve to figure out how to do that. We teach you how to do that. And if you purchase it at the right price, you're not going to lose money on, as far as, you know, the whole mindset of it. I just think it's good for people right now. And I felt this five years ago to kind of divert, to position yourself. I mean, this is a great side hustle. Right. This started out as a side hustle for Scott. Todd felt like he needed to position himself more and then he saw the power in it and just took off. Same thing for me. It started out as a side hustle. I'm hoping, okay, I can bring in some extra income into my life and feel a little bit more secure. And then two years into it, I replace my income and I'm like, this could be more than that. I could literally get to the point where I have freedom from, to have more control in my life. So, yeah, I think those are the things I think about.

Yeah. And I think for most people, it's not for. It's not solving their money problems because solving money problems is pretty easy. It's solving the time. And so when you combine both, and that's what passive income does, it's, it's pretty magical combination. I mean, it is the most magical combination. This, this freedom to. I mean, you know, when you and Aaron go to that lake and, you know, you don't have to call HR and be like, hey, is it okay if I take off for three days to go live my life? It's like, you know, it's an amazing feeling or not have to fight traffic anymore or Tate's babies got sick and he could just take off and be a good dad and be a present dad. Didn't have to worry about, oh my gosh, you know, what's my boss gonna think? That I'm taking time off or okay, now, you know, I've lost these precious, you know, vacation days or the sick day because of my children. I mean it's, there's so many things to be grateful for when you have this freedom and just see it every, every moment really. Like, you know, it's crazy like today, like, you know, it's my terminal day. I'm gonna do whatever I want today. And yet all my expenses will be paid by my borrowers sleep because I, you know, I paid the price early on to set this thing up. And now that machine just keeps growing and growing, growing and getting bigger, bigger, bigger. It's, it's an amazing feeling really.

So.

I do think that there's other real estate niches though, where a great time to get in, but land investing, because it's so inefficient, because it's so niche. Right. It's not like this. We have this, millions of people are doing this. I mean it's very non competitive relative to everything else in real estate. I don't see why it wouldn't be a great time to jump in.

Yeah, well, the other thing we haven't even talked about is just the investment needed to get started. When you look at this type of passive income model versus others, you know, it could be a fright. You could get started with this at a fraction of the cost. You get started this with a couple hundred dollars. You literally. Because if you mail, which is the keystone of our business, you know, the cornerstone of our business, if you mail, as Mike Zander says, you control whatever deal comes to you. And you know, you can spend a couple hundred bucks on mailings, find a great deal. And you know what, if you don't have the money in your account, that's what we have our community for. And you can line up a buy.

No, yeah, absolutely. And you know, you're not going to get kicked out of the game. You know, you're in multifamily, you're raising, you know, 10, $20 million from, from investors and that deal goes belly up. You're out for 10 years.

Right?

Nobody's, you're toxic. No one's gonna go into another deal with you. 10 years to recover from that. If you ever recover from that, you're going into house flipping. I Mean, how many people have we talked to on the podcast? They are knocked out of the game in 2008. You know, multi million dollar rental portfolio is just gone. They had to go, you know, they had a short sell at all or go bk and then it takes years and years if they ever recover to recover. What's the worst case scenario in our deal? You lose a couple hundred bucks? I don't know. You lose a couple thousand bucks? Maybe. Yeah. You're not ever going to get knocked out of the game if you're working in our, in our niche for sure. Now look, if you're, if you want to compete with the Ted Turners and the Jeff Bezos and the Warren Buffetts and buy multimillion dollar, you know, farmland, sure. If you overpay for it, you're not turned, then yeah, you could get knocked out of the game for sure. Oh, I think, I think Paul Brewer's on. Is that Paul Brewer? Good morning gents.

It's quite, quite possible.

I hope you're being safe out there. For sure. Here's a Facebook user. Just got my first sale this past week. Such a good feeling. Yeah. How are the numbers on?

That's, that's Nathan Meadswicky. I think he's might have just close to the end of his calls with Scott Todd in flight school. Oh, it's Andy Chen saying good morning gents.

Oh, Andy Chen, the Simpson. That's awesome. Andy, how are you doing man?

Nathan. I think Nathan. I actually read in the mighty networks group yesterday he may have bought it wholesale and sold it on terms but he got it really good. He got a really good return on it.

Yeah, that's great. Share your wins for the week. What were your wins? Even if it wasn't you closed a deal, property. Maybe you got your mailings out. Maybe you built up your buyers list. Maybe you tried some other marketing channel for the first time. You know, share, Share your wins. Let us know. I love our community, I really do.

Yeah, there's so many wins all the time. It's pretty fun.

Yeah. Oh my gosh. Andy Chan Chen. Are you sad? Andy? Last call with Scott Todd. So now he's got, he's going into office hours. Yeah. Fantastic. What are you. Scott Bossman.

A dark roast. Just a Starbucks. Dark roast, ground coffee. Really boring.

Really, Scott?

Really? I know. I gotta up my coffee game. I really do.

We're gonna send you some beans.

Well, I got beans. I just, I don't know. The grinders put away. So not put away. It's just, you know, on the back of some stuff, and I didn't want to dig it out, so I just got the ground coffee this time. Lazy. Yeah.

Nice. So Eric Peterson and I have the same grinder and this Breville grinder. It's really nice. But what happens is when you put in your 3 tablespoons of beans and you grind, the things go everywhere. What is it? Electricity, right from the grind. So it gets really messy. We found out if you just put a little water in, it goes real nice and clean. It was like a game changer, as Mike Zano would say.

Yeah, game changer.

It's a game changer. So what else is going on with everybody? You and I don't have much more to talk about.

For once.

For once. It's like. We're like, is it a good time to get into land investing? Yes, it is. What else should we talk about? Does anyone have any questions? Comments? Wins? Type it in. I mean, we. Right now we have a hundred thousand live viewers. Scott Bossman. Just kidding.

We had. We have a few people trying to think. Yeah, I know. We have at least that many. I'm trying to think who it was. Last night on Nightcap. They had. They had two sales yesterday. Shoot, I gotta find out who that was. But they. They're all in for 4k. And they sold for over 12k on terms. An example of the numbers, right?

Solid.

Yeah, solid.

That is solid. And does everybody know, as far as terms, what their pricing should be as far as those monthly payments? Does everyone know the ratio, the rule?

I don't think they do, Mark, because that's a question that comes up in the mighty networks group a lot and that type of thing.

All right, well, Caveman's got a win on second week of mailing. Way to go, Caveman.

Thanks.

So. So let's say that you invest $2,000 into a property and you're gonna sell it on terms. Then your monthly payment needs to be at least 10%. So it needs to be at least. At least $200 a month, you know, based on our ratios and what we'd like to see for capital recovery. So you're gonna get your money out. You know, worst case, maybe eight months, ten months. Yeah, but we want to get as big a down as possible, ideally $2,000 down. So what I like to do is ask that magical question, how much do you want to put down? They're like, well, in the ad, it said, you know, 200 down, 200amonth. Like, yeah, yeah, I know it says that, but how much do you Want to put down because you can pay off the note faster. We can give you a break on the interest rate if we're advertising interest and they're like, oh, really? And so, you know, I could give you. If you could put 2000 down, I'll give you a 5% discount on the total price. So you start negotiating to get that bigger down to stronger buyer, you get your capital out faster, redeploy it. So conversation. There's our.

Love it.

Our coffee talk. Tip of the week.

Tip of the week.

Just. Can you imagine two and a half days of this at boot camp? That's what you. That's what you guys, you know, can get.

Yeah, exactly.

So go to the landgeek.com training. Learn more about how you get two free tickets to boot camp in flight school. The toolkit. Do that. And if you have. If you're in flight school, you have the toolkit. You haven't registered yet. Just go to landgeek.com boot camp. Boom.

Awesome. Yeah.

I love the.

I love the last boot. Well, the last boot camp we have, I think we had a lot more Q and A than we ever have, Mark, don't you?

Yeah.

A number because. Because we had to fill some. Fill some things with the virtual time, you know, with the virtual platform that we maybe couldn't do or that we used to do with the real platform that we couldn't do with the virtual. So we had a lot of Q and A. And I tell you what, I don't think anybody left that weekend with a question unanswered. It was pretty awesome.

No, it is awesome. I would say that having self awareness. So there's a big difference between the virtual and the live. Because when you're live in a room, sometimes you're just. You feel shy about asking your question because sometimes you think, oh, you know, is this a dumb question? Or, you know, I don't want Mark to bring his big, you know, mic right in my face or, you know, or, you know, do something like that. So what's nice about virtual is like you can just ask your question and. And that shy component sort of gone. At least that's what I think. What do you think?

No, I think that's. Yeah, I think, you know, for whatever reason, people are sometimes hesitant to voice their opinion or to ask questions or whatnot. And yeah, I think it's a great opportunity then for people to. To in a little bit more relaxed fashion, get their answers and then to digest everything. And, you know, I think it's a benefit for you mark, because big guys like me who sit there like this, we are not as intimidating because we don't look.

We don't.

You know, the scale.

That. That is true. That is true for me. It's, you know, the energy is definitely different. And whether it's, you know, Scott Bossman intimidating me, Anne Marie Forbes shooting daggers. Oh, my. Daggers at me. What did Matt bring me to? What is land investing? Who are these guys? She was a tough nut.

She was. That was pretty funny.

I'm trying to think who I. I do remember one spouse was like. She, like, like, was just kind of, like, upfront about it. Do you remember that? Her answer was like. We're like, you know, she's like, the only reason I'm here is because I wanted to see if you guys were real or not.

Oh, right.

Yeah. Like, whoa. Okay, here we are. Here we go. We're real. I forgot who that was.

That was a bunch of regular guys just right.

Yeah. She's like, you know, you are. You are. I just had to see for myself before I let my husband, you know, even do this. That was funny. So we're at that point now where we're gonna do our giveaway.

Yes. All right, so I have everybody's name in the hat for October. Now, remember, if this is your first. Well, if you're watching and you make a comment, you're entered into the weekly drawing, and then we do a big drawing at the end of the month. So our weekly drawing this week is lots. And I'm picking a random name now.

And for those of you that don't know what lots is, it's looking over Tate's shoulder.

And they can find info@thelandgeek.com Lots. The winner is. Eric Burke.

Eric Burke. Fantastic. Congratulations.

You just started flight school, so that's going to be a to his education.

No, absolutely. Dino's like, pick me. What's up, Dino? Dino's been in the community for a long time. Years and years. Always good to see him. So, Dino, how's you? Jason. Congrats.

Jason.

Jason Hoffman.

Oh, Jason. Nice.

Yeah. So what do you got going on the rest of the day?

I got some leaves on the lawn that we gotta get the mower out and suck up, and otherwise, it's absolutely gorgeous. My son has a football game tonight. We'll work a little bit this afternoon on land, talking to a few people that are interested in land geek Land investing, so.

All right. Nice. Nice.

One person. Yeah.

All right, great. I. My daughter is friends, and so it's gotten to the point now with a teenage daughter that I have to bribe her to spend time with me so she has to have brunch with me. So I'm having a little daughter daddy daughter day. My son probably won't be up until like for another hour and a half and then, you know, I'll bring him in something. He's kind of a homeboy, he doesn't like to go out anyways. So then it's about, you know, where's a Covid safe place to go sit outside and have brunch. These are the problems I have to solve. Scott Bossman. Yeah, it's not bad.

Not bad, not bad, not bad.

Problems. Kevin Purdy. Good morning fellows. Who is making some great deals this week? Well, I know we had some great deals. I'll tell you what, you know, I had, I had mixed feelings this week. We did a, we did a deal, it was a cash deal and you know, we made 10 grand cash. And I'm always a little like ambivalent about the cash. It's like, oh great, now what do we do? Oh, we have to redeploy the cash. And then it's like, which, you know, it's not a big deal. It's just like that was such a nice note, you know, it was such a nice note. It's gone. But yeah, put in the chat if you got, if you're doing deals. Everybody have a great weekend. Breathe in the mailing, breathe out the marketing. Thanks for joining us for Coffee Talk. Scott Bossman. I love you man.

Love you, Mark. Thank you for everything.

Have a great, great weekend. And are we all gonna do this together? One, two, three. Let freedom ring.

Ring. That's good, it's good.

Oh, oh, by the way, I didn't tell you, Scott, yesterday I interviewed for the podcast and I'm not sure what's coming out. The co author of the One Thing, Jay Papazon. Great guy, great guy. And I didn't know this, but Gary Keller is a billionaire. Do you know that from Keller Williams? Yeah. So that was interesting. But he was, he was a great guy. Great interview. That, that interview is probably going to come out two, three months, but something to look forward to. So kind of cool. It's always exciting to talk to, you know, New York Times best selling authors, you know how many books they've sold. Millions, I think I say 3 million of the one thing. And it's interesting because I always feel like in real estate circles we're always talking about rich dad, poor dad. And the one thing is there another book out there that we're always sort of talking about when it comes to real estate and. And mindset.

I think the four hour work week. People talk about that a lot.

Okay.

The 12 week year.

12 week. Yeah, but I feel like that's more us than, like, general.

Yeah, that is probably more us.

Yeah.

Yeah. But, yeah, I'd say those two are probably the. The most talked about.

All right. Nice. All right, well, thanks, everybody. Congratulations. And to Eric Burke. Enjoy. Lots. And we'll see everybody next week. Thanks, Scott.

Thank you.

All right.