How to Play the Land Investing Game - Nite Cap with the Land Geek Guys!

I'd say I. It is a special occasion today. I put on a college shirt. I spent a little time in the clinic this morning.

Looks like a members only shirt back in the day. Yeah.

But no, I had to get dressed up today for work, which is very uncommon.

Yeah, tell us about that. So, I mean, for those just tuning in, we're LAN investors. Scott retired from his job as a physical therapist, but he does love it and he goes back from time to time. So tell us how it went.

Well, honestly, I haven't been back in a year and a half. I haven't worked as a PT in a year and a half. And are you a pt?

Pt. Part time. Pt.

Very part time. Pt.

Yeah. PT Squared, we can call you.

Right. And I started feeling a little nervous here a couple months ago because in order to maintain my license, I need to have some hours.

Right.

Of clinical practice. So I got a job a couple months ago with a company just to work PRN every now, you know, like one half shift a week, something like that. And they haven't called. They hadn't called me until this week. And now. So I went in twice this week, work a total of six hours. Next week, Next week I'm going in for five hours. The following week, I'm going in for five hours. And to me that's just, that's perfect because I like being a physical therapist still, but I don't like the other things that come with it.

Well, yeah, I mean, time, freedom is what you have now, so you're not bound to it. I think schedule. You're a schedule. Less.

Yes.

Is that right?

Yes.

Or not less? Not to be confused with less scheduled.

Right, right. I'm scheduled less. Exactly. And I wouldn't have to do this, but I mean, I've been a PT for 20 years. I don't want to lose my license. Right. And I enjoy going in and interacting with people and seeing patients that I've seen in the past or co workers or that type of thing. So it's rewarding now. It gets me out of the house, get to engage with people. And then about the time I'm like, yeah, I'm about done typing because of paperwork or whatever, I get to go home so I don't get stressed.

And they must be like, scott, what about tomorrow?

Oh, I know, that's the thing. You got to be careful with that. You got, you have to establish some boundaries because they want you back. But yeah, so that's. So I'm back to work five hours a week.

Boundaries is A great topic.

Boundaries.

Because the boundaries with sellers and boundaries with buyers. I mean, there are some deals that sometimes just aren't worth doing because of the, you know, the. The abrasive connection. Right. I mean, this is a people business. You know, we don't want to have to feel like we're fighting for a deal and we don't have it. Want to feel like we're fighting for a sale. Right. So, I don't know, you just got me thinking about that little preamble there. You know, boundaries. You know, have you ever walked away from a deal because you just didn't want to deal with the person buying from you? I mean, you walked away from a sale.

I've walked away from a sale. You bet. I've had people that were gung ho. I want to buy this thing, and they've even. Maybe even paid the dock fee.

Yeah. So why. Why, why back away, talk about that?

Well, there's this thing when you're having a conversation with somebody. You got the red flag, yellow flag, green flag going off in my head. Right.

All right, let's hear it.

So, well, you got the. So the green light or. Yeah, green light. I mean, everything lines up. So they pay the dock fee. They want to invest in land over time. They're dreamers. They want to live there someday. They want to go there on the weekends. They're fine with a payment. You know, everything just lines up. Green light, green light. Yeah, let's do it. I love investing. These people love investing in land maybe they bought for me before. There's no question. All right, yellow light, yellow light. So I paid the dock fee, but I'm not gonna have the down payment for two weeks. Can you work with me? Okay, yellow light. What's another one? Well, I'm really looking for a place to camp full time. Well, you'll see, Mr. Smith, that you actually can't camp full time on this property. So some of the technical things may cause a yellow yellow light to occur. Okay, maybe it's not the right fit. Right.

So I'm on the road with my rv. Can I pay the dock for you tonight and move on there now? Red light, red light, red light, red light, red light.

Yeah, so. So that would be a red light. I need somewhere to live is a red light. I want to live there. I live in my camper full time, and I'll be going there tomorrow. Okay, what else? Oh, I really, really want this property. Will you hold it for me? I get paid in five days.

Oh, red light, red light.

Everybody Else, great game.

This is a great game that we could play. In fact, I see now what you should have on your wall. A mini traffic sign. A little mini traffic light.

Yeah. Red light, yellow light, green light.

We should light it up. All right, Tell us if it's a deal, we'll present a situation and then the light goes on.

There you go.

I like it.

We got some people tuning in here. So tell us what you think. Some green lights, yellow lights. Red lights would be when dealing with buyers.

Yeah. Or if you're. Or if you're buying from somebody else. I mean, that's a whole topic right there. Like when would you walk away from a deal?

Right? Well, yeah, we could talk about maybe not the relationship with the buyer that makes you feel these, but the deal, these feelings, but the deal itself. Like, what's a green light? Deal? Yellow light, deal. Red light deal.

Yeah. Wow, look at this. This is turning into quite the episode. Let's pause. I want to pause because I. I saw you pouring a drink and I want to know what you're drinking tonight. It looks like a crafty beer.

Yeah, I'm drinking a Moon Man. It's a. It's a pale ale. Very light bodied. Pale ale. Glarus Wisconsin. It's my favorite. One of my favorite.

Well, tonight I have the Italian Peroni. Hmm. Which I believe you and I shared together. One of one of these when you, you know, Aaron and Laura, all four of us were out in the north end here in Boston not too long ago. Well, maybe it was a long time ago now.

It's about six months ago now, time flies. We're due for another visit, but cheers to you, buddy.

Anniversary's coming up.

Anniversary is coming up. Four year anniversary in April. Wow. And for those just tuning in, let's. Let's do a little intro, let's say hi to people and then we're gonna go back to that topic. Okay.

All right, let's do it.

So for those just tuning in and Mike, we're getting some new viewers every now and then.

Yeah. You know, the show just. Newsflash, this show is about to grow.

That's right. We're gonna go.

Things planned. You know, this is pretty exciting.

Pretty, pretty exciting.

Pretty, pretty exciting.

But this is Nightcap with the Land Geek guys. And a few years ago we got together, Mark did coffee talk all the time. And we thought, wouldn't it be nice to have something for the night owls, the people who like to sit back at the end of the day with a cocktail, maybe a smoke a cigar Maybe in their smoking jacket.

We had the cigar jackets. Smoking jackets. Those are cool. Now we wear sweatsitos and button up shirts.

Right, Right. I'll put my sweatsuit on here. By the end of this, I think.

We'Re due for another. Each of us is due for another sweatseedo.

Another one could have a whole wardrobe.

Yeah. It's time we should open up. Imagine open up in our closet and all you see is like lines of Sweatseedos. That is a dream for me right there. Laura, if you're listening, I want my closet just lined up. I want to walk in and see nothing but sweatseedos.

You know, I thought of you and Forbes last night because I'm watching Hawkeye right now on the. On Disney plus.

What's Hawkeye?

Hawkeye is the. The. The mini TV series. No, Hawkeye is the bow and arrow guy on the Avengers.

Oh, he has his own series now.

He's got his own miniseries.

Is it good?

Yeah, it's really good. But they have on the show, they have the tracksuit mafia. They have this whole team of bad guys walking around in tracksuits.

Oh, man. I'm like, would fit in. We'd fit in.

I know. Awesome. So we're. So this is Nightcap with the land geek guys. We're here to talk land investing. We talk about all aspects of the business. And if you guys are doing land deals, let us know what success you're having. If you're trying to get into this, let us know what struggles you're having. If you have any technical questions about the business, ask them.

Yeah, we're here for you.

We're here for you, John. Jiki is here.

As always.

I think John has become our most faithful viewer.

He's right up there for sure. If he's not the most. He's right up there.

He's right up there.

John, did you hear our analogy at the beginning of the show? We're going to talk about the green light, yellow light, red light. What do you think of that?

He's been here since the beginning, so I think he heard it. He's asking if he has to call me doctor. No. Nope, not at all. Just Scott, the physical therapist. No. Doctor. Somebody says, hell yeah, it's my favorite land blokes. That's Facebook. Loser. Loser. Facebook user.

You saw, you called them a loser.

My second.

Keep d that way.

Facebook user.

User.

Sorry about that.

We're very sorry for that mishap.

Please stay tuned when you're on Facebook. Please identify yourselves and your questions because we can't see who's. Who. Who's speaking. This particular Facebook user is not a loser because they said they've been listening to us for a year. Wow. My. My appreciation for you guys changed over time. I hope that's. That's a good.

Would like a fine wine. Is that what you're saying?

So happy hearing Todd.

I hope I like a fine wine and not a milk that spoils over time. I mean, I don't know.

He says so happy hearing that, that I basically go. Go to work for a change of pace instead of having to do it. And that that's exactly what it is right now.

That is unique. Let's not forget how unique that is and how you worked for that. You know, I love that. I love how my friend put this one time. It's not something you deserve. It's something you earned.

Right? Exact. That's. That's huge right there.

That's huge.

That's. Yeah, that's a whole nother show right there.

Yeah.

Maybe a con. Maybe a short conversation. I don't know.

We could have a gratitude show. What? Look at all these things that are popping up right now. Bubbling ideas, bubbling, bubbling, bubbling, bubbling, bubbling.

Tom Conway is here.

What's up, Tom?

What's up to. Green light maybe offering to pay more than what you're asking. Must be a green light.

Oh, so this is someone who's selling a property and they make an offer to you for more than you're asking.

Or maybe that's a. Yeah, I mean, that's a. Well, that's kind of an ethical thing. Right? Like, I don't know.

I wonder, is there an ulterior motive? It's very interesting. So if you had it advertised on your website. So we don't have any, you know, some surrounding information for what he's saying, so we could clarify it. But I'm saying if you had to listen to your site for 10 grand, someone offered you 15. Something sounds weird. Right?

Right. So, Tommy, I've clarify if you'd like. Ken Green is here. Ken, you made it to the new time slot. Mikey messaged me on Facebook. He was all upset, very upset that he missed us last week, but do.

You like the new time slot, Ken? Ken. Tell us, Ken.

Let us know. Facebook user says the extremely urgent buyers make me see red lights. Exactly. John Jiki, he just watched the third anniversary show with Matt Forbes and died laughing and was very inspired also.

Oh, man. Matt Forbes was just basically like preaching, drinking, preaching, hat on backwards. And he's so big. We didn't want to stop him. We're like, just go. This.

The sound was not good that night. And what.

The pizza was.

The pizza was good. Some guys had had an awful lot of liquid.

We should start drinking at like 10 in the morning when we have a show at 10 at night. That doesn't work out well.

Yeah, yeah. Not. Not good. So let's see that. That was probably a big red light, John, when you were watching that. That show. Good evening, Facebook users. Here's a question, Mike. Well, and then. So let's answer our question. We have one question on here, and then we'll go back to our topic. Do you. This. Good question. Do you have someone take photos of every parcel you buy, even if they are in a similar area?

No, but we do have them generate photos from GIS maps and. And they can. They can draw boundary lines and they can put some text on there. So there is some uniqueness, but not from someone going on site always.

Right. And reuse. Reuse. Reuse your pictures. Yeah, I'm still using pictures from five, six years ago from a lady. I paid her like 200 bucks. She went all over the county, Mike. She took these amazing pictures, like, just insane filters and amazing lighting and all that stuff and still use those pictures.

Yeah, we did that in an area where we had a lot of land down in Texas. We had someone go out and just at various points, intersections of different roads, take aerial drone footage photos. So then we were able to. We knew we were getting more properties there over time. You know, we were committed to that subdivision, which is a very good thing. And so we were able to use those and get a lot of. A lot of use out of them.

Awesome. Ken Green says no, he does not like the new time slot.

He's probably Pacific. Is he Pacific? Was he Mountain? What town? What time zone is he?

He's all over the place. So he's kind of a world traveler, so I'm not sure he is.

Ken, something tells me you're able to make your schedule, so I'm sure you can fit us in. Come on, come on. You're making your schedule.

One comment for John here before we go back to our topic. So he just went through the foundation course. He's asking should he do the passive income launch kit before the toolkit. And John, I guess what I would recommend is because I know that next week, a week from last night, you're starting flight school. So what I would recommend.

What's he doing? January?

Oh, is he doing January?

I'm not sure. Remind us John.

Oh, you're right. He's doing January, so, yeah, John, you got plenty of time. Do the. Do the password come launch kit and then go into the toolkit. My bad. I thought he was starting next week.

Well, maybe, but I. I think you're right. Yeah, I think you're right.

All right, so before we go back to our topic, I'd like to. I'd like our audience to know or take notice of the fact that we now have our land geek hotline displayed on the screen.

How do I see that? I got to go to the Facebook group to see this.

And this is our text line. So if you guys are interested in land investing, you have further questions, you want to sit down and have a conversation about strategy. That's our text line. 608-387-8981.

I want to go on Facebook and check it out.

Or YouTube. YouTube Live works, too.

All right.

Awesome. So now, Zaino, I'm going to ask you. We're talking about the red light, yellow light, green light special.

Yep.

And when you're buying a property. So let's talk about. Talk about green lights. When you're buying a property, when do you experience the green light?

Well, you know, accepted offer person gives you their phone and. Or their email. So there's good method of communication. They're pleasant. They're eager to sell. They've owned it for 20 to 30 years. Everybody on that deed is available to sign. Taxes are either current or they're just minimally. Dude. Or it's not a huge tax burden. And it's in a simply file county. I mean, there's. It's just like, you know, out of the park.

What's it called, Mike Zano.

That's the Humdinger.

It's the Humdinger. And that. We just completed the you complete me segment.

Nice. I was thinking you could put that basket behind you now and just slam.

Dunk it right there. You're right. Yeah. No missing. No missing the cods. So awesome. Those are all green lights. I don't think I could even add any to that. I don't think I could.

This is a green beer. Green beer can't be a bill bottle.

Yeah.

Which I may need to have another. Now. This is going down pretty smooth.

And the moon man's going down. Nice. All right, let's talk about yellow light on a property. When you're acquiring your property, Mike, it comes across your desk. When are you. When are you feeling the yellow, the. The caution light come on?

Caution, Caution. All right, so let's play it back in the same way. Maybe it's a counteroffer and the counter offer is, it's, it's above what you'd like to pay, but it looks like you might be able to bring them into the middle and make it worth it, you know, so you're not sure. Right. The accepted offer and you call and maybe one of the spouses is no longer alive, but you still haven't looked at the deed yet. So there could be held tenants and you know, rights, survivorship or something. So you don't know. I mean, there's just some little things that need to clear up. It looks good, but you're sort of get a look at some, some of the facts to make sure everything lines up correctly. There might be a tax burden. How big is the tax burden? You know, I think that starts. So it's not a simply file county. So. And maybe, you know, now it's gonna be more difficult because when it is simply file, you get a copy of the deed that can be recorded. Now you need the actual physical deed. So now you have to make sure they're comfortable adding that, you know, so it starts just layers on just. It's just like a, each one of those by themselves. But when they start to layer on top of each other, it starts to get very yellow. Very yellow.

Right. I would add a couple things to that. Let's say the counteroffer. And that's, you know, that's eating into the margins. And then we look at their back taxes and oh, they got a ton of back taxes. That's not going to stop us from having a conversation with them. But again, that's going to lead you.

To intent that could lead itself almost into a green light because once you find out they have a huge tax burden, the power shifts to your hands because at a certain point you realize they're not going to pay that off.

Right. You're right.

Now it's like, it's like this is something that could shift this whole deal towards the color green.

Yeah, I know. You know, Mr. Smith, I offered you 1500 for the property. I know, I know. You countered me 2500. But there's, you know, there's $1500 in back taxes on this thing.

Yeah.

I could, I can buy it for 750. That's actually 250 more than what I originally offered.

Yeah, I love it.

You know, it's possible if you don't get these taxes paid, you may just.

Lose the property outright and make nothing.

And make nothing.

Yeah.

Turn the green. Turn the yellow light into the green light. I love it.

Yeah. Yeah. It's true. And that's a real. What. Scott's just. What he was just doing is very real. So it happens quite a bit. And people's expectations, like, you just have to alter their expectations. Right. You know, it's sort of like when someone asks you. We used to talk about this. You know, they give you a counter of a thousand dollars or so more than what you wanted to offer, like, oh, well, you know, typically, this is. Has been what we're paying, but sounds like there must be something unique about your property. So you. Do you have electricity on it? No.

Oh.

Did you put a well on it? No. Oh. Is yours a corner lot? No. Okay. So you just start to devalue it. But the biggest devaluing happens when Scott just did what he did. You bring to the table that. Yeah, you haven't paid your taxes in, like, three or four or five years, and I don't think you're about to do that. So why don't we get you some money before you lose everything?

Exactly. Another yellow light is poa.

Oh, yeah, Right. Yeah.

Because there's some property owners associations. The fees are. They can be.

Oh, Mr. Boston, you're the new owner. That'll be a hundred dollars for telling us. Thank you.

Right.

Oh, okay, great. That's just the start of it. You know, I've had some associations where I've made some good money then, but I still prefer to deal with them. Not at all. I just. It's just another layer.

Right?

Another layer.

And, you know, I find, too, that if you buy property and there are a few back taxes on there, it's okay to let those. It's okay to let those back taxes continue to accumulate over time at the 1% interest that the county charges you monthly. Right. You just got to know what the tax cycle is. But for POA fees, sometimes the. The fees they charge you monthly are pretty crazy. So when you acquire property and there are back POA fees, I'd recommend getting those paid right away or getting on a payment plan with the poa.

Least need to understand all of the details of that hoa. And that just. Again, that just adds time, which is money, which is creating complication.

Ken Green must be thrown a yellow light issue at us. He says. He says probate. Is that a yellow light issue for you, Zano?

That's a red light.

It's a red light. I think it's a red light for me, too.

Yeah. Unless it's Already been through probate, and we just need to show the documentation. But typically if it's got to go through probate, it's like. Yep. Let us know when it's. Let us know when it's done.

Yeah. Any other yellow lights anybody can think of when acquiring a property? What's going to make you feel. Feel some caution?

Well, is the yellow light or a red light? If it has legal access but not actual access. Scott, how do you feel about it? It's not landlord.

That's a yellow. That's a good one. Yeah. We got to think about the actual attributes of the property. Right. So that's a yellow light for me.

It wouldn't be a red. It wouldn't be a red light. I'd still. I'm still fine with. As long as it's legal access.

As long as there's legal access. No.

People have made a lot of money with. Mark's made a ton of money with landlocked properties. But let's just say the easiest ones are the ones that have at least legal access, even if actual access isn't provided.

What about the side of a mountain?

Made some good money on the side of mountain. I know somebody on this call who patented with somebody on this call and made a lot of money selling a whole mountaintop. Yeah.

Yeah.

Like an entire mountaintop.

It took a little while to sell.

That, but I, you know, I just gotta. I would love to have that property because it's so beautiful.

It's a. That was a beautiful property. I wouldn't have minded sitting on that for a while. Not at all. Awesome. Okay. Very good. Utility fees are another yellow light. There are some areas you work. Most areas we work, Mike. There are no utilities, but every once in a while you'll find a community that I know in Florida. There's a lot of them where maybe there are some water lines to the property or sewer line of the property, and there can actually be some annual city fees associated with those things. And typically when the people don't pay the back taxes and they don't pay the POA fees, they're not going to pay the utility fees either.

They're not paying anything.

Right. So that'd be another yellow light for me and something that we need to look into. All right, John. Jiki, he doesn't like. He doesn't like this time either, Mike. It's making him miss his Ferrari owners group live stream. He's giving up his Ferrari owners livestream.

Is that every Wednesday, John?

For nightcap Thursday.

Thursday, yeah.

Well, next Week. We have to go Wednesday, if that's okay.

We do, actually. For me, too.

Okay, good. So next week is Wednesday. Maybe, John.

Maybe the Ferrari club's on Thursdays.

Yeah. At least we move around a little bit, huh? Ken Green says as long as you guys go to sleep at a good time, seven is good. All right.

So he wants it earlier.

You want it earlier.

Ken's on his own schedule.

We're 8 Central, 9 Eastern. That's where we are. Oh, here's a good yellow light from. From Facebook user. Seller doesn't want to talk on the phone. Possibly.

You know, it just depends what the communication is. We bought a lot of property and done it in a very easy manner. Very easy. And never had a phone call with them, but they were very communicative through. Through email or text. So I wouldn't automatically go to yellow for that.

Right.

Myself.

I agree. I agree.

John G. You can buy and sell property without talking to anybody.

Yes, you can. Yep. He says a Ferrari is on his vision board. That's a great thing to put on your vision board, John.

Nice.

I love it. All right, I think we're caught up here. Oh, we do have some. We do have a couple questions. Let's hit the questions and then we'll go to the red light properties.

All right.

How do you deal with a deal where ownership was transferred by divorce settlement.

You know, without getting legal? Because we're not legal experts. I think any situation, if it's. If it's correctly documented and sort of filed with the county, then I think you can get around it. But, you know, it's case by case. We do, in transparency, we do have someone, you know, you can find someone that's legally skilled on upwork, and they can assist you with some, if you want, with some more out of the ordinary deals, you know, out of the, you know, not so simple deals, or you could just let those deals go totally up to you. But I would. I'm sure there's a certain way that has to be filed with the county so they can transfer title. What'd you lose?

I'm probably very distracting over here. I'm sorry.

You lost something?

I lost my bottle opener. How could I lose my bottle opener?

I was just thinking about if I got another beer. I would need a bottle. Can I borrow yours?

I got it. It was. It was blending into my note kind.

Of bottle opener is that.

Oh, it's a fancy. My wife got that for me for Christmas. It was a stocking stuffer.

I love it.

And it's Got a magnet on the back.

Yeah. You just reminded me that I think we should have a belt buckle night.

Oh, belt looking night. Yeah, we should. I got it. I got it right over here.

Oh, man, we got some sick belt buckles from Texas.

Those from Alex and his brother.

Yeah. Very awesome.

All right. That's a. That was a good answer, Zaino. I was listening and looking for my bottle opener. Speaking of taxes, when do you pay back taxes? I assume at the last possible moment.

Well, we don't pay them before we own the property. Somebody asked me that this week. Right. So you want to have the property in your name or have the deed so you can record your name before you deal that back taxes. But other than that, you need to understand, is there anything bad that's going to happen to the property? That's a great way to simply say it to the treasurer, like, all right, I know that some back taxes means a lien. Like anything bad going to happen if I don't pay them in the next three or four months. And they can tell you, well, nobody's filed for, you know, there are some tax liens, but no one's filed to sort of close on those and take the property, which typically is a six month process, you know, so this, we don't have any plans to deed it away or a tax sale. So you just need to know that that's. That's typically important information.

Awesome. I think it depends on where you are in your business too. Like, let's say you buy a property, there's $200 in back taxes. The county charges you 1% interest a month, but you just started your business and you need money to buy more property. And you have two years left on the tax cycle. I'm not gonna pay those right away, so. Right. You didn't say that, did you, Mike?

I was reading the comments. No, I didn't. Gets case by case.

Case by case. Here is a comment by Dan and Heidi. They want to give you. They want to give you a shout out. Mike Zano for. Is that good for your guidance today, you must have given them some helpful.

Oh, yes.

Some helpful advice. Five weeks in and we just had our first acceptance on an offer for one property which has turned into three due to a wash. I don't get that.

Yes. I was just looking at the box and I refreshed myself. Great box today with Heidi.

I don't, I don't get that. Has turned one property has turned into three due to a wash. What's that mean?

Well, I don't know exactly what she means by that. She was talking about washes, and I was telling her that you could use that to devalue the value. To devalue the property with the owner so that you can now buy it at a better price.

Gotcha.

Did that work, Heidi? Is that the tactic you used?

So, Mike, this is great, because you know what happened? She turned a yellow light into a green light. Into a green light.

I love this game. Red light, yellow light, green light. Well, when you play that game, was it only red light, green light. There was no yellow.

There's red light, green light.

Yeah, so maybe we need to change this because it's like the game, the kid game. Red light, green light, red light, green light, red light, green light.

No, there needs to be. There needs to be yellow in there.

I know. It's more.

It's our own game.

Yeah, we make up this game.

Yeah.

The land Geek. The land. We should have a board game.

A board game would be fun. You know, there's a gentleman in our community who makes board games. What was that?

The Night Cap board game.

There's a gentleman in our community who makes board games.

Really?

Yeah. And I gotta.

I gotta remember, I gotta be a drinking game. Every time you do this, you take a drink.

Totally. That would be amazing. You just bought a property. Accepted offer. Drink. No counter. No back taxes.

Drink.

Drink.

Drink. Drink. Drink. Drink.

Drink. You just. You just got an offer in the mail. Five thousand dollar counteroffer above your asking price. Drink.

You just. You just opened the board game. Drink.

Oh, man. John Sinkovich is here. What's up, John? He has a question. Oh, he's got a technical question. Let's see if we can help him out.

It's a great time of year because, you know, technical. Yeah. You know what movie this is from this time of year? That's a technical foul.

What is that?

You never saw that movie?

What is that?

Yeah, yeah.

Christmas Story.

No, this is with what's his name. Ah, come on. He lives up here. Adam Sandler. Whitey. That's a technical foul. Come on, somebody else.

What movie is that? Billy Madison.

No, it's a Christmas movie. Come on, Someone out there must know.

Christmas movie.

Yeah, Adam Sandler. I think it's a Christmas movie. Technical file. Let me look it up. Sorry, guys. All right, we are drinking.

Here's John Sinkoviz's question. If someone signed a contract for monthly payments and wants to pay in full for a discount three months later, would you void the old contract and resign with a cash sale to Give them the discount.

I don't think. Based on what he's saying. I don't think so. I would just give him an early payoff deal.

Yeah, just give him an early payoff deal. And you can just add a clause to the. To the contract, right. That says that you've agreed to a discounted. Discounted rate. John, did you talk about this potential discount prior to getting this. Prior to selling to this guy, or is this just something you guys worked out? That's. That's my question.

Eight Crazy Nights.

Oh, you know what? I. I think I have seen that, but it's so long ago.

It's such a good movie, and I think it is somewhat related to the holiday season, so I recommend it. And that's a technical foul.

All right, drink. In other words, if you want to pay in full for a discount price, after they sign the seller finance, would you have to redo the sale, or is there a way it works in Geek Pay? So, John, what I would do is just. Just pause the loan and Geek Pay and just have them wire or send you the money due and then just deed them the property and put the. Put the price on the deed. Good. Yeah. Facebook user. Got it. Eight Crazy Nights.

Awesome.

Awesome. All right. You know, I do have to say our viewers are still a little down at this time slot. Not gonna lie. We're a little down.

No comment.

We need the. We need the land. Geek Nation to spread the word. That were an hour earlier.

Just saying. I actually need to go two hours early, perhaps.

Perhaps. All right, Mike Zano, deal comes across your desk.

Yep.

What causes the red light to start flashing?

This is on a bot property I'm going to buy.

Yep.

Hey. Yeah, I want to sell. Scott, I'm so excited. You know, my uncle died, and I've been paying his taxes for the last 10 years, and I just can't wait to get rid of this property.

Well, what if he's on the deed?

Well, that's the rest of the story. He's not on the deed. He just thinks because the tax bill is in his name that he's on the deed. The county just says, oh, this guy pays us money. Let's send him the bill. Right. So that's, number one, you're not on the deed. You know, has to go through probate. Somebody died, and it wasn't explicitly state of the deed that they would, you know, have sole possession once that other person dies, that's it. If the back taxes exceed the value of the property or the value of your offer, would be or makes it totally unreasonable. It's. It's out if it's totally. Although I know Scott Todd made money on his. But if it's totally underwater, which there are places that I found properties, accepted offers, and it's like, there it is, but it's mapped under the river, I'm out. What do you got? What else, Scott?

Landlocked, no road access. I'm out. Unless I can buy it for a lot cheaper than what I offered. If I receive a letter and it has glitter in it and a bunch of F words, I'm out. Red light. If I received an offer letter and it says add a zero to the end. Add a zero to your offer. Yeah, no, no bother.

No bother.

I'm trying to think what else.

Conrad 50. No bother.

Yeah. Have you ever had an instance, Mike, where you're talking to a potential seller and something just feels off? Like maybe, maybe they're assuming an identity that.

No, I have not had that.

I. I don't. I had that one time and initially it was all green light, let's talk on the phone. And then something weird happened in our due diligence and that put the brakes on.

Oh, sometimes, you know, I've seen. Happen a few times is where John.

Smith.

But his father was John James Smith and he's John Philip Smith, and he's like, I can sign John Smith. Just. No one's gonna know. Let me just sign it. Because John Smith, that's definitely a no go, right? That has happened. It's happened to you. It's happened to me a few times. Or they try to say they have the same name, so the father's middle name isn't on the deed, so they have the same first and last name, different middle names, and they want to. Don't worry about it.

Right.

And I say, no, it's no deal.

That's happened to Scott Todd before. I know. Awesome. Any other red? Ken Green says when a party comes running out of the woodwork, running title. Ken, you can. You can expand upon that, but maybe it's just too many hoops to jump through. Or maybe they want you to pay for title or that type of thing.

And sometimes depending on the deal, there's room for that.

Yeah.

But sometimes not.

John says, sorry, I didn't. Didn't set up Geek Pay yet. I don't have an LLC yet. Is there another way? Oh, to set up Geek Pay? He's asking. You could. Well, John, you can. You can still subscribe to Geek Pay and it can help you manage it. Can help you keep, help keep you organized with keeping track of all of your notes. Okay, yeah, but, but to set up the auto pay feature, I believe you do have to have an llc. So if you're sick of keeping track, keeping track of things on spreadsheets, GeekPay might be a good investment for you because it tells you when people are late, tells you when they've defaulted. It's just less brain work for you. Let's see here. Do you need an LLC to have a Geek Pay? So again, no, you don't need an LLC to subscribe to Geek Pay to do the manual tracking. So John, you can sign up for Geek Pay, keep track of all your notes and, and just go in there and when you receive a check in the mail or however you take payment, you go in there and you enter the payment manually. But when you choose to automate your notes monthly ach withdrawal from your buyer's account, then you would need an llc. John says, I thought the whole point of Geek Pay was to set up auto pay with the achievement, I think.

But honestly the highest and best use of it. But it also allows for you to track your loans and keep them organized so that you don't have to worry about some sort of spreadsheet. So that is the highest and best use. Yes, right.

Yeah. It will handle automatic billing and reminders and things like that. So, so John, here's another thing that, that would be beneficial even if you don't have an LLC. If you have 10, 10 people in contract and, and two of them miss a payment, they're going to get an email from Geek Pay saying that they're, that their payment is late. So that's a benefit to you. You don't have to track them so much. Awesome. Red light, yellow light, green light.

Love it. What a great topic.

What's up, Facebook user Mike and Scott? Mike and Scott. What's up folks? He or she says Facebook user. We don't know who you are. I apologize. If you would like to identify yourselves. Oh, it's Team Gelber. Dad. Ashley and Derek. What's up?

What's up guys?

I'm surprised you guys aren't in bed. Derek's a swim coach and he works at like 3:30 in the morning.

What do you think of our red light, yellow light, green light, A green light, yellow light, red light.

Yeah, I don't know if they just tuned in or not, but, but yeah, we had, we had a nice discussion about all the deals. Well, we had a discussion about deals on the sell side. And deals on the buy side. And when you feel or experience, you know, when you have, yeah, you have red light deals, yellow light deals, green light deals on both sides of the spectrum. So that's what we talked about tonight. John G. John Jiki says haven't used business software and forever. What do I need to relearn Excel? Word? What are some tools out of Excel?

There's not a lot of Excel that's like copy paste. That's nothing. Word minimal. Because most of the documents are going to be auto generated in LG Pass. So that real software you're going to use, LG Pass, it connects to LoB. That's how we mail. But you don't really have to do much for lob. You just have to connect it in LG Pass. Like I said, maybe air table. That's nice. We have some auxiliary, you know, things that, you know, ancillary or auxiliary. I think ancillary. Pretty, pretty difficult word to put into context. We have, you know, we basically there is some use cases for airtable with marketing and so on and so forth. Mailchimp or some other sort of, you know, service allows you to email your list because you know, at some point you can have thousands of people. So you got something like that but you know that's, that's free for up to 5,000. So there's not a lot really in the beginning, is there?

No, there really isn't.

But you don't need any software. Software only makes things easier. Remember, you have an intrinsic time value. I don't care who you are, you have an intrinsic time, no value of your time. And I guarantee it's more than four or five dollars an hour, ten dollars an hour. That's why we set these. But you don't have to do that at all. You can do it all yourself. But there is that time cost, right. So at some point it becomes pretty, you know, tempting and lucrative to outsource these smaller tasks. And then there's a cost to it, but it's not more than your time value.

I'm going to tell John though. What I think is helpful is John, you, you do need to have a little bit of familiarity in my opinion with Microsoft Excel or Google Sheets. But what you need to do on those platforms is very simple. You just need to know how to sort from A to Z or from larger to smaller. You know how to, you need to know how to copy and paste, you need to know how to add some, some. So like this is all pretty easy stuff and Google Sheets is free. Did I see that? That Word and Excel are free now too? Do you see that, Mike, with Microsoft?

Are they.

No, because you used to have to pay. You have to pay like 200 bucks a year or something like that to up to upgrade your software. But I thought I saw that recently. So John, what I would recommend is get to know the Google Drive platform stuff. I like Google Drive. Am I freezing up or are you freezing up? Am I freezing up, Zane?

I don't know. I don't feel frozen.

I don't feel frozen either. Yeah, I hear you. But John, there are some tools on Google Drive that are helpful. Google sheets, Google Docs, I don't know. I like that platform. All right, question.

Notice that you built shelves into the side wall. Those are tucked in there neatly. Hard to see them. Look at those shelves you built in there.

You're not supposed to see them. You can see them. I'm going for the nice clean, clean.

No, no, I didn't even know they were there. No, I think you just have a little angle. Yeah, if you change the angle a little bit more to your maybe your right, I won't see it. There it is.

Now you can see that wall. Ah, now I gotta redo things.

You can go back a little bit to the other side.

Here's a question for Facebook user. I had a buyer go visit a couple of our properties today and I asked if they didn't mind taking a few pictures. We got some fantastic properties for free today. Thanks for the tip.

You always talk on that.

Yeah, I love that.

That was your tip. That was awesome.

I love that.

Bossman, that was a great tip. You gave a few shows back.

I love it. I'm just like, you know, we want to know what's going on out there. We'd love some fresh pictures. And every once in a while you find a prospective buyer who's like a professional photographer. They're selling you all these amazing pictures that you can use forever. And then you. And then you say to them, and then you say to them, oh, I'd love to reimburse you for the pictures. And they're like, no problem, no worries, no reimbursement needed. We had a great time. Free pictures.

Yeah, love it. Quite true.

Awesome.

Well, we're winding down.

I would just, I would just ask our viewers to spread the word about our new time. Because.

Because we're just talk amongst yourselves.

We're just down a few viewers. Just down a few. I'm trying to make Z feel bad. I'm trying to make Mike feel Bad. Oh, this is from Matt. Oh, no, this is a. This is a. From Facebook user. Hey, guys, just wanted to say that I like the new time slot. I hope you guys stick with it. The only thing missing is Matt.

Oh, I think the time slots tough on Matt.

What's that?

The time slot might be tough on that.

Might be tough on that. It's like bedtime.

It is bedtime.

So we appreciate you guys coming next week, Wednesday, December 15th. Do you remember back in the day, Mike? We had a. We had a Christmas musical.

We've done a few musicals. We could do a musical.

We might need to do a Christmas musical again. Has anybody on the show seen the Christmas musical?

It's buried in the archives, dude.

Remember? Do you remember that time when Scott Todd got run over by a reindeer?

Yeah. Yeah.

That was pretty, pretty, pretty good. That was pretty good. So we might need to consider. Might need to consider some Christmas Christmas carols. My Internet must be acting up because you're freezing up. So I think it's time we. I think it's time we.

It's great seeing you, Scott. Great sharing a beer with you.

Oh, Ken Green has a quick story had closing already to go and the seller died on. Died on me contract was signed so the title company worked it out.

Whoa.

Well, wow. I've had it happen before the contract was signed. That was, that was a bummer for those people for, for, for the protect prospective seller as well and their family. But all right, we'll end with that. Ken Green, good on you, everybody.

Seeing you, Scott.

Good to see you, sir. We'll talk soon. Everybody. Thanks for, for coming and thanks for engaging. That's why we're here. We like to come here and yes, we're goofy and we, you know, we goof off a little bit every now and then, but we love the business, right? Like the business changed our lives. And if we can impart that to others, it's rewarding.

So I agree.

All right, man. Cheers to you.

Cheers.

Cheers to ending 20, 21 strong.

Yes.

We'll see you next week. Texas at the Lane Geek hotline.

Texas.