How To Start a Successful Land Business with 10K in 2021

Hey, it's Mark Podolski, the land geek with your favorite niche real estate website, thelandgeek.com and on this week's roundtable, we've got all the usual suspects. We've got the Zen master. Breathe in the mailing. Breathe out the marketing, Mike Zaino. Mike, how are you doing?

Wonderful, thank you.

Good to see you. We got your partner in crime.

Dude.

Buddy. The nightcap. OG Scott Bossman. Scott, how are you? Great.

Mark, how are you?

Great. Good to see you. We've got. Putting in the reps. Terea. Putting in the reps. Harris Terria. How are you?

I'm well. How are you?

Good.

Great. Good to see you. We've got the technician, Eric Peterson. Eric, how are things? I am good.

Happy to be here.

Great. I love it when you call me big Papa. Tate Litchfield. How are things, Tate? Good.

Little bit chilly.

It snowed here last night.

Wow.

It sleeted here yesterday. It looked like snow. It's. We're having. What's that? Global warming. It's global weird. Weirding. It's getting weird.

Yeah.

Yeah.

That's crazy. It's 64 in Nashville today.

Like, 68 in Atlanta.

Yeah, yeah.

81 in Florida. Man.

Anyways, last but not least, you know him, you love him. The brain, the professor. Your flights go Sherpa. Scott. Todd.

Scott.

Todd. Landmodo.com. learn anything about anything. Investor ninjas.com. scott. Todd, how are you?

How are you?

I'm great. I'm great. We had an amazing boot camp weekend. And so for all of you that attended, the surveys were overwhelmingly positive. Thank you so much for filling out your survey. If you haven't filled out your survey yet, please fill it out. We really love that feedback. But in general, everyone had their own favorite modules. It wasn't like we didn't see one sort of, you know, trend. But there was one thing that everyone loved that had nothing to do with any of us. Grill the Geeks. Everyone loves Grill the Geeks. They learn so much from each other. That's why our community's amazing. So if you don't know what I'm talking about, go to thelandgeek.combootcamp to learn more about the April boot camp coming up. But what was interesting is that we had some questions, lots and lots of questions, all through the weekend, and now we get to use that as a roundtable topic. So, Mike Zana, what was the topic for this week's roundtable?

Right, so I believe it was, if you had $10,000 in capital and you Were to start the business today, what would you do? I don't know if it would, you know, what would you do differently? I guess if any of us were to start right now, day one, 10 grand, what do you do?

Okay, so, Scott Bossman, I'm giving you a suitcase like Billy Rogers of $10,000. What are you gonna do with it?

That's a great question. Well, for me, I want to make that investment move as quickly as possible. I want my, I want a return on my investment as quickly as possible. And I also want not only return on my monetary investment, but a return on my time. So I think a return on time invested. So I am going to invest in some training. Now there's, you know, there's different degrees of training. You can start out small, you can start out, you know, take the leap and go into flight school with Scott Todd. But I'm going to do something to educate myself because I don't want to bootstrap this on my own and have to put together this really large jigsaw puzzle by myself and waste a lot of time and energy when I know there are experts out there that have answers. So I would do a little bit of both. I would, you know, put some of those funds toward training and some of those funds toward, obviously the startup cost in the business. And $10,000, man, that's a great number to get started if you have $10,000. So that's what I would do. I do a hybrid, hybrid approach, I guess.

Hybrid approach. I love it. I love it. Zen master.

So I'm going to assume for this question that the person has already engaged in training or is engaging in training. So now they have this $10,000 nest egg to work with. So, you know, first and foremost, you know, other than picking an area where I'm going to invest, I would engage a mailing campaign. I'd make sure that I had LG pass and my lob was connected and I would start a mailing campaign and I would probably target properties because, you know, now that I've fallen in love with metrics such as yield, and you look at like a thousand dollar property that sells for 3,000 at $100 a month payment. That's a sweet little spot there. So I would target properties that were worth three to 4,000 and I would start mailing to them because I know I'd have enough money to buy quite a few of those to get going. And so I think, yeah, I would. I think it comes down to sort of choosing where you're gonna Work and that part of that is always the price point. Right. So when I started out I didn't have 10,000, I had negative. I still had to invest some money or whatever I, you know, I had to scrape together. But I focused on properties that were like three or four hundred dollars because I knew I could wholesale them and double my money. But if I had that 10,000 then I would not necessarily start out with wholesale. I really didn't have a choice sort of at the beginning. So wholesalers sort of poor upon me as an option to create cash. But I would go for the terms deals and I would focus on acquisitions. Probably around $1,000 of property.

Okay, okay. Taria, putting in the reps. Harris, how about you?

After that amazing wealth without Wall street module, I think I would deploy mine there into an infinite banking system and then gradually know, use my money to make more money. I think that's where I would start based on, you know, what I'm learning about it. And I am still learning about it. It's one way for you to take what you have and keep what you have while leveraging what you have in your business. So that's probably what I would do with 10k now after going through training I would, I would reach out to the wealth without Wall street guys.

As Einstein likes to say, the eighth wonder of the world is compound interest. I like that. I like that. Eric the Technician Peterson. Ten grand. What are you doing?

Yeah, so I think I was thinking along the same lines as Mike. You know, get a mailing out, target some properties in that kind of thousand dollar price range. I like the returns on those, but I think I would incorporate maybe some wholesaling in conjunction with some retail sales so that I don't run out of money. If that 10,000 is my investment, I want to make sure I've still got funds to buy more land once that's purchased. So by wholesaling a couple, I can regain some capital. And then probably around month three or four or five, somewhere in there after I've got some season notes, I would start thinking about selling off some of those notes to regain some capital and get it poured right back into the business to buy more land. So basically whatever I could do to allow myself to continue buying more land is going to be my strategy. So I don't want to just go buy ten $1,000 properties and sell them all on terms and have to wait for my, my capital to come back to me. I want to use some methods to, to help get that back quicker and be Able to deploy more money.

I love it. I love it, Tate. I love it when you call me Big Papa. Litchfield. Ten grand.

Good.

It's a good amount of money to bring to the table. Honestly, you've got a lot of options with it. One of the things I would do is I'd mail, obviously, I'd set aside some money for acquisitions from the direct mailer, and then I'd look at wholesale and maybe land arbitrage or something like that. My goal with that $10,000 would be put as many properties in my inventory as quickly as possible. You got to own land to sell land, and the more property you control, the more opportunities you'll have to make sales. And then once I got a bunch of sales, I would look at selling some notes. Partials, for sure.

Okay, Scott. Todd.

Well, this is why it's hard to go last, too, right? Mike's saying this is why it's hard to go first. And here's why it's hard to go. Because all of these ideas have kind of been put out there. And I was thinking, like, okay, Tate, don't take this one. Don't take mine. Or Eric, don't take mine. But they did. So here's what I would do. First of all, I did start my business with $10,000 of capital, right? So, you know, this is a number that's. That I connect with now. That didn't include my training. It was my capital. So, you know, I kind of. You kind of have to decide, you know, education, not education, however you're going to do it. You got to have some education order to do this. But here's what I would do is I would allocate around $2,000 towards mailing. So I'm going to go and I'm going to say, look, I'm going to. In mailing cost is what I'm saying, right? Like, I'm going to. That's. That's like four months worth of mailing. I'm going to allocate that just to give myself some time frame. So I'm going to start my mailing. Well, that leaves me $8,000 of money. I'm going to take half of that money, $4,000 of the eight, and I'm going to hold some of that for my mailing pieces. So I'm going to go hold some of that for my mailing pieces. That leaves me with $4,000. So I got 4,000 that when my mail comes back, I can buy land. And I got 2,000 going to my mail, and I'm at six. So I got 4,000 remaining. I'm taking 10. I'm sorry, I'm taking $1,000. And I'm calling my buddy Tate up, and I'm gonna say, tate, tell me the land that you have that I can arbitrage from you. And he's gonna give me a list of all the properties that he can arbitrage that I can arbitrage, maybe as low as $100. I'm gonna try to get some land for, like, $100 down. Land arbitrage means that I. Tate's gonna own the land. I'm basically gonna buy it from him on terms. I'm gonna pay him a hundred dollars down and whatever per month. So 100 bucks a month or whatever. I'm going to take 10 of those.

10.

So I'm going to take 10 of them. Right now it's $1,000 over to Tate. That leaves me with $3,000. And then I'm going to call the other land coaches or buddies in the community, friends in the community. I'm going to say, what do you have wholesale? And I'm going to spend $3,000 on wholesale. Now what I just did was I probably ended up with maybe three properties through wholesale, 10 through land arbitrage. I've got 13 properties under my control now. I have mailings going out, and I have money to buy, $4,000 worth to buy. And then what I would do is when I sold these things on terms, would sell them on terms or cash, because about 25% of all the deals are cash deals. So knowing that I'm going to generate some cash there, I'm going to. If it's. If it's a cash on a land or deal, I'm going to pay off paid or whoever is holding it, I'm going to pay them off. I'm going to have pure profit now, and I'm just going to put it all right back in. And then what I'm going to do is I'm going to sell the notes where I can, like Eric said, to generate cash today to keep the mailings or to go buy more land.

Arm.

Right. Wow.

This is.

This is a really interesting topic. We can call it the $10,000 tapestry, because if you take everything what everybody said, you've got this beautiful, you know, philosophy of what to do with the money. Now, I personally, I like what everybody said, but I really like what Scott Boston said in the very beginning, which was, I'm gonna focus on how can I save myself time with philosophy I can always give myself money. So I'm going to combine Chorea's philosophy with Scott Bossman's philosophy. So I want to go to Landon Cherria's husband and say, because I know Landon's got 10 grand sitting in the bank at zero percent interest. And so I say, landon, I'm going to borrow 10 grand from you at 10%. And he's like, okay, no problem. Or he's like, yeah, I can borrow it from my life insurance policy. So I make an infinite return on my Money While that 3% keeps compounding in my infinite banking policy. So now I'm leveraging Landon. Now I'm taking that $10,000 that I have. It's just I'm putting that somewhere else. Maybe another policy or something as collateral for Landon. So Landon knows, worst case, I have the cash, right? But I'm gonna use his money at 10%. Now. I'm gonna just utilize everybody else's, you know, tactics. I'm gonna buy wholesale. I'm gonna land arb. I'm gonna watch my capital. But I'm really gonna start growing at this exponential level now, because after I pay back Landon, he's like, I don't want the money back. Keep it. Let's just keep rolling this thing. And now I can grow even faster. Then I'm. You know, we didn't even talk about it, but I'm hiring vas@landva4u.com. I'm getting into LG Pass and Geek Pay. I'm using software, so now I'm using other people's money, other people's time, and in the software. So all three points of leverage. Tate Litchfield, what do you think?

The main takeaway for me here is that people are moving their feet, right? It doesn't really matter which one of these approaches you take, as long as you do something right. If you are serious about this, prove it, right? If you believe that this will work for you, and if you've heard enough from other people who are having success, what's holding you back, right? I always tell people that this is a great line of work in. Because if you buy these properties, you know, at 20 cents on the dollar, 25, 30 cents on the dollar, it's impossible to lose money, right? If you're working in the right areas, you've done proper county research, because you can always move them to somebody else. I'll buy them. I'll buy you out on it. You might not make a ton of money, but I'll take it off your hands. So I really liked what everyone said about just moving their feet. You just take an action. That was my takeaway from boot camp, too, is do it, don't wait.

Right. Right. Yeah. Let's say, like, I love what you said, but let's say that I'm a newbie.

Sure.

I've never done a deal. Would Landon allow. Would Landon borrow. Let me borrow $10,000? Well, if I can say to him, hey, I graduated from flight school, so I've got, you know, intellectual capital here that I've borrowed from a guy who's done, you know, over 2,000 deals from. There's no way I can lose. This is the strategy. I've been trained to do this. And I've got the 10,000 set aside for your collateral. I think he would do it. I don't know.

10 GS is nothing for him.

10 GS is nothing for Landon.

Yeah.

Yeah. Eric, what do you think?

Yeah, I mean, I love it. I think, you know, hitting the ground running is the only way to make progress. Right. I mean, you have to start doing something. If someone's going to give you or loan you an amount of money, you better have a plan in place, and that involves moving forward, taking the next step.

Yeah. Tria, what are your final thoughts?

I. I like. I like what you said. The tapestry. I think everyone had a great strategy, but I also like that none of the strategies involved, like, let's say you don't have $10,000. Well, got Todd broke his down into manageable pieces. Like, well, I'd take a thousand. I go get some land or. So they're even manageable chunks within the 10,000. If you don't have it, that you can still start doing something with.

Yeah, I mean, I start with 3,000. You started with what? Five. 5,000. Five, five, 5,000. Eric, you started with 5,000. Mike Zano started in the negative. 40,000. Scott Bossman, what'd you start with?

I gave myself $5,000.

5,000? So you don't even need 10,000. 10,000 is like a nice luxury to have for sure. I think we did a roundtable on this. Like, even a thousand dollars, you can start doing deals and flipping them, you can do. I mean, land are easy, but even a wholesale deal, you could do it just, you know, there's so much that can be gained from just going full cycle on the buying and selling on a deal. That confidence, I think, is priceless. And certainly that that's the best investment you can make, really, is just knowing that this works for you and Then if you can do it once, you can do it a million times. I think, yeah, I'm working on it, getting there. Just need to eat right, exercise, keep going. Which leads us now, unless. Scott, Todd, do you have any last thoughts?

No, I think it's pretty clear.

Okay, Eric.

Good.

You're good. Okay. How fun is it to be able to say Taria, putting in the reps. What is your tip of the week? A website, a resource, a book, something actionable for the art of passive income listeners to go improve their businesses, improve their lives. What have you got?

So on Facebook And Mark, if you've heard him talk about the tips for marketing, you know that one point he drives home has to have an anchor. And so an anchor in my Facebook ads would mean I would put the price and then I would put a slash the word or cross it out and then put my improved price in there. Especially deal of the week or whatever I'm doing. So in Facebook, I used to be able to do my strikeout in like a Word document and copy it and paste it into my Facebook ad. And then with the improvements or changes that they've made, you're no longer able to do that. So I found a website and it's called yay Text yaytext Y a Y text dot com. And so it allows you to go in and bold your text or strike through and all the little grammatical nuances that you want to put in your ads, it's there on that website and you can copy it and put it into your Facebook ads and it shows up the way you want it to. It's pretty cool little tool.

I love it. I love it. Mike Zaino, what do you think?

I do like that. I think it's an incredible tool.

Scott.

Todd, why not just use Word?

It won't let you cut and paste.

Come on, man.

She's not used to this yet. She's not used to the fact that.

It used to let you use Word. Yeah, now you need the unic. Well, I guess if you have Unicode, but you have to cut the unicode and put it in there.

Come on.

What are these? I can't hear you, Scott. You broke up.

I said, what are they doing banning things over there? They shouldn't be banning anybody anything.

I'm just saying it's Facebook. You're not shocked?

I like it.

Just kidding.

No, it's great. We'll have a link to it. Yeah, the tension. So, Tria, speaking of Facebook, I just wanted to read a message from Adam and Amy Van Lew. So if you were at Bootcamp. Tria put up a Facebook ad. We watched it in real time throughout the weekend, checked out the views, but at the same time, our new flight school students, Amy, Adam and Amy actually went with Cheria and she helped them with their Facebook ad. So this is what they wrote. We had a great weekend and are really looking forward to this business. The land sold this morning for cash. We are waiting for the down payment to go through and getting it entered in LG pass to get the deed done easily. It will be 270% profit and we'll keep the ad up as we have had 21 messages and counting about the property. We are going to buy three more properties in the same area and send them to those 21 people. So nice. More boot camp magic. Yeah.

You know what makes me proud, you know what makes me happy is one, it just, it does show, right? Like it shows that there's people in flight school, okay? They follow the recipe, they go where they're supposed to go, they go where we teach them to go to, and then they execute.

Okay?

Like they sit down with Terea, they execute. They didn't have to. But you know what, she kind of probably gave them some experience and some insights in that one on one session and she got that piece. They executed. But the one thing that we teach in flight school is stay close to where you keep all your properties closed because then they can domino effect that thing just like they're doing.

Man.

It makes me so excited to see that they are executing like that. Flawlessly. Flawlessly.

When they showed up to boot camp, they didn't have an ad written. This was their first property ever. So this was a huge step for them.

Yeah. And for those of you that are listening, that don't even know what we're talking about, what is flight school? What is boot camp? Go to thelandgeek.com training schedule, a free call with the zen master Mike Zano or the nightcap OG dude buddy Scott Bossman and find out if this model is right for you. But I promise you, in 180 days or less, the tuition that you make in yourself in flight school, you're going to make back guaranteed in either cash or terms deals. If you follow the recipe. All you have to do is show us your work. You've got Scott Todd as your flight school Sherpa taking you up that mountain of land, investing quickly, safely, efficiently. You owe it to yourself to make 20, 21 the year where you can work when you want, where you want, with whom you Want replace your income? Have that security. Go to landgeek.com for to learn more. Cheria, are we good?

I think we're good.

Scott Bossman.

Great.

Eric, you're great. Tate.

Yeah.

I really enjoyed this topic.

Was it wicked smart, Mike?

It was. I felt better as we went along because Eric toasted me real quick after my answer. But then I realized. I realized everybody was just sort of building upon the person before them until it led to the Everybody toasted. Got Todd's allocation of funding. So I didn't feel so bad at the end.

It's tough. And you know who's got the most empathy for you is Erik Peterson. Because for years and years he always went first. I remember. Yeah. Eric is nice now, right?

Yeah.

Yeah.

Sometimes it's harder the longer you wait to.

Third in is the best, though. Third in.

Yeah, right in the middle is kind of the sweet spot. So whoever's got that position is. They're set.

We should almost do like a lottery. Scott, Todd's been the anchor for years.

I fix it.

It's not broken. It's not broken, man.

He loves the anchor. He loves it.

It's the spot. It's time to tap dance.

Learning tap dancing now, Is that a new thing?

Hey, wait, let me ask you a question. We didn't do Let Freedom Ring. So are we gonna do that? Like, are we doing that at the end now? We're just chit chatting from here on out?

No, no, let's do Let Free to Ring. Let's. Yeah, no, no more. We'll do the bonus content after Let Freedom Ring.

Yeah, we gotta stop talking, people.

Just a quick reminder, if you're getting value from these podcasts, the. The best compliment you can give us is if you do us three little things. Takes two seconds to do maybe three. You got to subscribe, rate, review the podcast, send a screenshot of that review to support thelandgeek.com we're going to send you the $97 wholetailing course, how to double your money, 30 days or less for free. Which is a great way to start with either $10,000 or even $500 and get that, that free education. All right, we ready to do this? 1, 2, 3. Let freedom dumping. I went a little fast that time.

Couldn't keep up.

Yeah, it was an echo.

You know, I thought was cool about boot camp, Mark, is that someone in the chat actually said, when do we let freedom ring?

Yeah, you know, they wanted to do it every day.

Yeah. We could end it every day with.

Let Free every Hour on the hour.

Yeah, it's hard to. You know, boot camp finale is tough, but that's. That's the way to do it. I even. I messed it up this time, too. We did let freedom ring, and then I did, like, one more thing, and Scott's like, really? Freedom ring?

It's hard to do songs and hugs virtually, too.

He did, though. Mark. Mark did a virtual song hug moment there. I was just like, whoa, Nice throw stuff.

Whoa.

I'm getting. The lights are getting angry. Talk amongst yourselves. We will.

Yeah, yeah. I forgot what he did, but at one moment, he was, like, playing some song or something. He wouldn't let it go. And I'm like, mark, don't hug, buddy.

But.

Oh, you mean in the actual book? Because I think Mark actually had a premonition. That was the last one before COVID and Mark went around hugging everybody. I think he had a premonition.

Oh, no, no. Mark's been. He's always been a hugger.

That was a different. He knew.

No, no, no, no, no, no, no, no, no. The one he went around the room and hugged everybody was when Tate was out. Oh, yeah, yeah. This is why now Tate is going to be riding a peloton only and not going cycling. He's just becoming a peloton. Hey, hey.

I told you that in confidence, Scott.

Bicycle man for his wife, not for him.

Scott.

Todd, you and I. I mean, did you. Did you really want to go there? Huh?

How did you. I hate the pelotoner, Mike.

You thought Scott was scary.

The pelotoner?

I'm a millennial with nothing to do all day.

Social media expert.

Oh, man.

Okay. Well, that was fun.

I remember. I remember giving Pete Schmidt a virtual hug and then warning him, I'm a big hugger at boot camp. And he was. He was like, I'm not having it. He's like, no. I'm like, oh, okay. Fist bump. He's like, even that might be a mess.

I gotta tell you, man. Eric and I cringed in the back when Mark went on his hug tour hugging everybody.

I even got a vox of it. It's begun, Tate. It's begun.

Once you went up on past, like, three or four, you had to finish.

I had to finish. People were like, where's my hug? Right? You know, that's the problem. Yeah.

I still have. I still get sweats every time I hear that song.

What song was it?

I thought it was the. Or the boot camp song. Aileen.

No, no, no, no, no. It was.

It's.

It's a song they play on the radio.

It was sappy.

I like. I like my music.

Sappy song.

Tate likes my music.

I liked it. When you shock boot camp this weekend, you played some Kanye with Chance the Rapper. That was awesome.

Yeah, I listened to that Kanye one you recommended last week. I didn't like it. What was that one you said I would just. I couldn't get into it.

You didn't like Runaway?

Did you watch the movie?

There's a movie?

Yeah.

I'm more like Ewan McGregor in. When he sings in that. That. That musical, you know?

Oh, my gosh.

Oh, don't talk about Scott. You know the musical.

Yeah, I know what you're talking about.

It's a great song.

Our song.

Is that what it is? Come on, tree A. That's a good one, right?

Mark's eclectic. Like, he just. He played every genre of music at.

Boot camp, you know? The only. The only genre that doesn't get love for me is honestly his country. And I like country. I just don't listen to country. Like, you have to, like, send me a country song. I'll give it. I'll listen to it, and I'll be like, oh, it's not. Not bad. It's like the first time you have Indian food. Like, you know what I mean? It's, like, a little scared to try this Indian. And then you take a bite, and your eyebrows, oh, this isn't bad. Unless you're Scott Todd. And then you're like, no, I really don't like Indian food.

Indian is my favorite.

See? See? By the way, speaking of, I just ended on this one little tip. If you guys haven't seen White Tiger on Netflix, I recommend it.

The TV series or a movie?

It's a movie, but it's based in Delhi, and it's really interesting. It's kind of like the Indian version. Parasite. And, you know, you want to talk about, like, a good gratitude movie, like, if you. If you're not grateful for your life right now, go watch White Tiger and come back to me. For sure. All right, well, this is fun. Thanks, everybody. See you guys.

See you guys.

Hey, Mark.