A short personal YouTube message from Mark J. Podolsky (The Land Geek) describing how fear of long-term relationships limited his early raw-land business strategy. He explains that he focused exclusively on cash flips, avoided carrying seller financing/notes due to discomfort with ongoing relationships, and now recommends mixing note deals for passive income (suggested split: ~75% cash, 25% notes). He directs viewers to resources on his website for passive income and land-buying mistakes.
Chapters
Hey, it's Mark Podolski, the lane geek. Let's have another virtual cup of coffee together. Still drinking my bulletproof coffee. A lot of my friends think I'm a little crazy. That's okay. I love it. I love the way it makes me feel. And I got a lot of energy, never hungry, all the fat. It's great. So if you don't know what bulletproof coffee is, just Google bulletproof coffee. This guy Dave Asprey explains all about it. But let's not talk about coffee. Let's talk about getting outside of your comfort zone, doing something that is a little scary. I know I talk about this a lot, but I'm going to talk about one of my biggest failures because I was scared. So when I first started buying and selling raw land, all I did, all I focused on were flips. Cash, cash, cash, cash, cash. I never ever carried a note. I never had any passive income coming in. I was constantly chasing the next deal and I loved it. I love deal chasing. It's fun for me. But I should have actually stepped outside of my comfort zone because what I didn't want to do is I didn't want to have relationships. I didn't want to have to have to have that five year, ten year note with somebody and constantly stay in touch with them for such a long period of time. The whole idea of it just scared me. I'd rather do a quick transaction and be done with you. Right? And there was no relationship building after that. I would just do one deal with you and I wouldn't even care about staying in touch after that. Huge mistake, huge mistake. And I really regret it. So if you're starting out in this business, don't do what I did have. At least if you need cash, do 75% cash deals, 25% note deals. And if you want to learn more about that, go to www.thelandgeek.com. download for free the Passive Income Blueprint. I talk a lot about creating notes and passive income. Also get the ebook how to Avoid the three Fatal Land Buying Mistakes. And of course, get the weekly podcast delivered each week into your inbox. This is Mark Podolski, the Land Geek. Thanks for having another virtual cup of coffee with me. I'll see you next time.
