Is Wholesaling Land A Great Passive Income? What You Need To Know

Hey, it's Mark Podolski, the land geek with your favorite niche real estate website, thelandgeek.com and on today's Art of passive income model podcast, we have a guy who has finally seen the light. But before we talk about how Michael Alder was able to see the light and skip into our model, want to introduce my co host, the man, the myth, the automation legend, Six Sigma Baby. Scott Todd. Scott Todd.not lenmodo.com and posting domination.com TheLand Geek Scott Todd, how are you?

I am awesome, Mark. You know, all this time that I have, I've like found the kids are back to school now and you know, so like the days are back to mine. And the last couple days I've been going on bike rides first thing in the morning, 15 miles, 8 miles. I feel energized. I feel like, what a great way to start the day. It's like getting everything going.

Miracle morning. I'm all about that. Miracle morning.

So.

Is Michael Alder, who's actually on the best passive income model podcast from michaelalder.com and, and he's probably been listening to his podcast real estate strategy session. Mike Alder. How are you?

What's up fellas? I'm doing great. I'm honored to be here to hang out with you and your audience and I feel like I should be paying for this because I'm connecting with two awesome rock stars on this show right now. So I'm honored to be here and being able to hang out with you guys right now.

Well, we can take your credit card, no problem.

You let me know. I'm not going to put it out on the air because I know there's a lot of listeners and they'll just drop rainy. But you guys, I'm gonna send it over you right after.

All right, Mike, you know, Scott, I know your background, but tell, tell the listeners a little bit about your background in real estate and your journey into land investing.

Yeah. So I'm based in Cleveland, Ohio. So our model for creating passive income was going into D class neighborhoods in the city of Cleveland and we would purchase deeply discounted properties there, renovate them, place tenants in them, and then sell the end product to people that want cash flowing assets. Now I became successful with this in 2008. Prior to that, I dove into real estate in 2001. Messed up everything under the sun. Crashed and burned horribly. So after the market crashed in 08, I got back in and we were doing the cash flow model on singles and doubles and four plexes and basically creating these income producing assets and selling it to west coast investors that had a, you know, you know, they couldn't get the returns that we offer here. So since 2008, up until last year, that was the model. And we were growing at a rapid, rapid pace, raising a lot of private money, purchasing a lot of properties. But we got to a point that we were. We didn't have enough employees to do the renovations for us and things like that. So I had this aha moment last summer when we have a mutual friend and Nick Loper from the side Hustle show. And he knew I was a real estate guy, and he's like, hey, I just interviewed this guy. He has the best passive income model. He buys and sells raw land. And while he's telling me this, I'm like, that's the dumbest thing I've ever heard. I didn't even give it a chance, right? So two months after that, I didn't even listen to the interview. And we had taken back a bunch of properties from deadbeat tenants, destroying the properties, trashing them, going to eviction court. Like every nasty thing that comes with residential real estate we were dealing with. And we didn't have the team members in place to take take care of it. So I'm in this duplex, I'm cleaning it out personally, I'm painting it, just touching disgusting things, and I'm all burned out and upset. And I'm like, you know, what was Nick saying about that best passive income model? So I pulled up your show, listen to it. I'm like, okay, this guy definitely has something here. So I went to Facebook, looked you up, sent you a direct message. I said, hey, let's connect on my show. Let's talk about this. And ever since then, I've loved the idea and been ready to take massive action on it to build my own portfolio because it's far more passive than the residential game.

All right, so you took massive action. What?

What?

You know when you say massive action, like, walk us through those steps. Like, what is the steps of massive action that you took so that we replicate your success, Mike?

So this is what I did. I had a mess of residential properties that I had to clean up. So my focus was, let's get these cleaned up, sold, liquidated, whatever we have to do so I could focus on the land model. So July comes around, we were pretty well cleaned up on everything. And that's when I decided, okay, let's do some paid marketing, let's generate some traffic, let's get the names of buyers, whatever it takes to start building the list and selling these things. Now I know a lot of people talk about doing direct mail marketing. That's excellent. You're going to get the best deal that way. But what I did was I found the best wholesalers I could find on Landwatch. Then I just created a squeeze page. You know, it's@rawlandinvestments.com and, and basically saying, you know, cash or seller finance land deals starting as low as $40 a month and you opt in. Nothing fancy whatsoever. I sent traffic to that by doing banner ads on land watch and on ebay. And that's what built my list in July. And I was able to turn over five properties like it was back to back when I was selling these just by listing them on ebay, sending the traffic to the squeeze page and then buying them directly off of wholesalers instead of doing the direct mail marketing. And then every time I had a buyer and a property connected, went right back to the wholesaler, presented the next buyer with the next property, and just kept selling them on terms to the end buyer that way.

Scott Todd, what do you think of that model? I can't hear you. There you go.

I'm blown. I'm still trying to understand you.

Out.

And you, you did not buy any land. You.

Well, I bought a couple bait properties. I should say I bought a few up front, but overall I did not. But. Sorry, go ahead.

Okay. And so then you went to land watch and ebay ads on there that buyers to you. And then when you had, when you had people coming to you, then you turned around and you went to other land people that were selling land and then kind of connected them. You bought the land from them at that point and then.

Yep, exactly. So I was just creating the notes because I wasn't necessarily interested in selling them outright for the lump sum of cash. I just want the streams of income. So you know, I was, it was waiting for the buyers to be in place, have them pre sold and then I put my money out there to go ahead and finish the deal at that point.

So then did you, did you negotiate like a discount like you're not paying? Like you're not paying. Like what are your margins? I guess is my question. What's the margins on your deal?

So most of the stuff I've done is three times investment over two years is what I'm bringing back.

Three times your investment over two years.

So what I would do, like I would buy an acre in Valencia County, New Mexico for like $375 off of a wholesaler. And then I would turn around, sell it for $60 a month for 24 months. Buyer, and hold that note. Okay.

Okay.

I like the model, Scott. Todd.

I mean, I, you know, I think that, I think the fact that you, you went out and you found buyers and then matched it up, you. You minimize your risk.

Ads.

I mean, how much is your ad budget.

On ebay? I spent $150 on there, and then land watch is actually 200 because you have the account for 50. And then the banner ad cost 150 on there.

The banner ad on Land watch only costs 150 bucks.

Yep.

I'm like, shocked, man. I would have hundreds, thousands.

And that's where we're at now. It's like, okay, this works. We could repeat this again and again. So let's dump in more money now and keep this scaling at this point. So it was a matter of figuring out what actually works before you throw, you know, hundreds, if not thousands of dollars out there. Just say, none of that worked and I have nothing to show for my efforts on that.

Yeah, you know, I think, I think that the way that you did it is really smart. I do like it. I would say that, I would say that the approach that you had, if somebody is tech savvy or savvy enough to do it like that, I think it's a good strategy if they followed what you said and it connected with them. Where I would get nervous is somebody that's starting out and new, that they just need the basic steps. What are the seven steps to get to the other side of the river? That's where the investors toolkit, and that's where that strategy that we deploy, Mark, really makes sense is because it's easy, small steps. It's not pay per click advertising, if you will, and you're actually buying that asset that you can fall back on.

Yeah. I think Mike's strategy works for him because he's coming from this wholesale real estate residential model where he has tons of experience. So he's already coming in with his advanced real estate background. And to go ahead, I like the fact that he made these tiny bets. Right. But we're doing the same thing with the toolkit in the sense that you can make small bets a county, send out your direct mail and go through the steps that way instead of, you know, investing 100 grand or whatever. It's the same thing. Except Mike's doing, I think, a more advanced strategy using this wholesale model. And I like It, I think if you're a wholesaler from, let's say, like, you know, the Joe McCall podcast. Right. And because a lot of those wholesalers love our model because, you know, Mike, you can, you can attest to this. You're not dealing with a tenant. You've got a bigger market. You can go, you know, national with it. You don't have to be in your local market and it scales faster.

So.

And we're 85% automated with software. So what exactly, Mike, has been your. The lessons learned by going through our model versus, say, your wholesale residential real estate model.

Yeah. So the big difference and what I really like about the land model is, and I've said this a million times, so people have heard me say this before, I apologize. But it's not someone that not paying me that gets me upset because I expect people not to pay me in business. It just happens. It's part of it. It's when you don't pay me and then you drag me out 30 days, then I got to give you a three day notice and then you don't get out, and then I got to pay my attorney and then after that we go to court three weeks later and I lose time out of my day. Then I get my asset back and then it's trash. So I got to shell out more money and then more advertising to get it up and performing again. So with the land model, worst case scenario, you're holding a note, they stop paying you, give them 60 days to try and make things right with you, and that's it. If they don't, you just crumple up the paper and you put it right back out there a, you know, ready to go again. I'm not making my attorney's car payment form every month and dealing with all the assets that come with, you know, the late night phone calls and everything else. So that's why, you know, I really do think the land model is the best passive income model because your headaches are so minimal with it, if any, I should say, you know. Yeah.

I mean, your cost of foreclose is zero, basically.

Right?

Yeah. And Scott, Todd, you had a similar experience when you were doing. You had a mobile home, right?

And you had a. I had a mobile home, man. And this thing, it was. I mean, I wish I would have like, I wish the cell phone video was much better at the time because, man, I would have, I could have been on episodes. I could have produced my own cops. I could have drama, probably like crime scene drama as well. I mean, the Scariest part was the final payoff of this thing. The guy calls me out of nowhere. He's like, how much? How much I owe you? And I'm like, like, 5800. 5800. He's like, Be here at 6:00'.

Clock.

I'm like, oh, why? What's going on? We're doing a deal. And I'm like, oh.

So I show.

I show up at, like, I show up at 6 o' clock and I'm by myself. I'm wishing I had, like, my posse. My wife's like, you know, keep your cell phone, you know, keep me connected to your cell phone so I can hear what's going on. And I'm like, okay. So I got my cell phone in my hand. You know, I'm trying to hide the fact that I'm. I'm like, on the phone with somebody. I don't know what she's going to do. I call the police, you know, and so with guys, like, he's like, now I owe you 5,800, right? I'm like, yeah. And he goes. And he looks at this other guy. There's like a, like a Asian family right there. And they're like, he's like, and you're buying, so. And then you're gonna buy it for me.

So you.

He points to the Asian guy, he's like, you give. You give him 5,800 right now. And the guy starts counting out, like, hundreds. And I'm just, like, about to freaking get jacked here. Oh, my God. This is how it ends, you know? Like, so they're counting the hundreds, and he's like, you good? And I'm like, looks good to me. And I'm not even double check counting the money, man. I'm just like, putting in my pocket and, you know, like, you start backing up, Start backing up. Back to your car. Get back to the car. I'm out. And as I'm walking away, I hear him say, like, now you give me the rest and count it out. Oh, boy. Never again, man. Never again.

That was like a gangster wholesale deal there, right there, nice and sketchy.

But, you know, I think that, you know, I think that, I mean, I do agree, like, you know, you get the. You get these assets and, you know, you. You work them and it's not. You're right, it's not as much about, hey, not paying me, because I get it, you know, you're not. You may not be able to pay your bill, but then when you. When you're fighting the Whole process, you know, if you just come and say, look, I can't do it. How do I get out of this, this lease? Because I can't afford the bill anymore. Well, now we can have a conversation where you want to, like, bury yourself and hold up in the house. Now I gotta evict you, or, you know, now I've got to take legal action against you. It's no fun for anyone. And then with land, it's like, well, okay, you know, in a way, it's almost like if you make, don't make your payments, it's kind of okay. You know, like, it's okay.

We shuffle paper and make money. Nothing to maintain, nothing to protect. It's the best. It is the best. But I think it's interesting that you guys come from this perspective of having to deal at some point in time with a tenant. And I think there's a lot of gratitude that goes, that comes with it. Like when you kind of figure out, okay, here's a way I can make a passive income stream without the typical headaches in real estate. And I'm embarrassed to say, I never had a tenant. I've never had a rental home. I've never had a mobile home. I've only flipped. I flipped one house. I hated it, even though I made a lot of money. And it's just, it's weird how my gratitude in this model comes from my freedom and flexibility from not having a dead end job, right. Or a job I hated and not having to do a commute, not having a boss, you know, being able to travel and work. But, you know, I don't, I don't know, that sense of having to not have to deal with something physical, clean something up, get something ready for sale and deal with a tenant. It's crazy.

Now, you got lucky in the investment world there. You just jumped right into the right, the right model and ran with it.

Yeah. Now, I do have a question for you, Mike.

So. Yes.

How hard? I mean, you've been doing real estate for a while and, you know, how hard is it to ignore? Kind of the shiny object syndrome.

For me, it's near impossible. So.

So the reason I asked that is because, you know, I know that, I know that, like when you start to do real estate, you know, you, you start to look at, oh, this is so much better, you know, and it's, it's almost like until you've gone and experienced that, you know, the grass is always greener.

Right?

But it's funny because. And the reason I asked that question Is Mark. You know, like, one of the things, one of the. I think the biggest challenges, I think for everybody that they underestimate is really that shiny object syndrome and avoiding it. And like, every day, you know, it's easy to get sucked into these things. And I'll tell you, I get sucked into them as well, where it's, you know, it's. If you watch the movie up, you know, it's like squirrel. And the dog's off chasing the squirrel again. And, you know, like, there's, There's. There's certain parts of this business, it is very, very sexy. You know, like, whether. Whether you think that flipping a house is. Or, you know, multifamily. I was, I was reading an article the other day, and I, you know, like, part of me would always like to do something with multifamily. There's something about, like, owning this big apartment complex kind of a deal. I read an article the other day where it was actually by Grant Cardone, and he says, hey, take your $400,000 and go buy this $1.7 million unit. And he's trying to show the big numbers because he's trying to show you how I can move the needle. He does all of the math and says, after it's all said and done with, and after you service the debt, you're going to have $70,000 of cash flow every single year on your 40,000, you know, $400,000. And I just, I break out the calculator. I'm like, wait a minute. If I win, I put $400,000 into land. And I know how. I know my average ticket. I know how many properties I'm going to buy, and I know what my average note is going to be. That's a sucker bet over there, in my opinion. But it's funny because we all have these shiny object syndromes that I see people all the time, they get the shiny object syndrome. They want to chase something else. Just do the math, man. This is the best passive income model. And every time I do something like that and I look at these apartments, I run the numbers. I'm like, why am I not. Like, what am I doing? I gotta buy more. And I go on these big, huge buying sprees just because you know what the opportunity is. So don't get the shiny object syndrome, people.

Yeah, I agree. The math is so compelling. And I've seen enough developers out here and enough apartment guys go through so much brain damage to make, you know, an 8 cap on their money. It doesn't make Any sense. But I do get the, you know, the big. I mean, it's not even shiny object syndrome, it's big number syndrome.

Big number syndrome, that's right.

And we're dealing with smaller numbers in volume. But look, Jeff Axton did a, did a flip, right? $15,000 investment. He sold it for 150. I mean, the big numbers are here, but that's not. Those are more anomaly. But I'd rather.

Those are the home runs, right? Like, those are the home run.

Yeah, exactly. But I'd rather have a thousand notes at, you know, 150amonth with no headaches, then this huge debt service. You know, all these moving parts with apartments, all the things that can go wrong. It's, it's. You're not diversified. It's one piece of property. If that neighborhood goes down, you're going down. You're going bk. And it's very hard to come back from bk. Mike Alder, what are your thoughts on all this?

You know, I agree, and you said a thousand units, and that's actually on my map for the next three years there. But it's like you can manage a thousand units of land in house fairly easily, I believe, versus, I mean, a thousand rental units. I mean, we were running a couple dozen at a time. It was like I wanted to kill myself every day because just that there was something every day I would, like pick up the phone when my partners would call back, who we suing today? Like, that was the go to response because something was going down every day, you know. So with this, it literally is, you pay or you don't, and that's it. We move on. So it's very simple to follow. As far as bright and shiny concept syndrome, the one thing I've learned because I still like, like I said, you know, I still get distracted with it. Just remind yourself of when you're focused. You make so much money in any niche you're involved with. So, yeah, the grass is always greener, it seems. But when you start running around chasing all these things, you never dial in and you'll never hit the profits that you want. So just focus in on your model and keep pressing forward with it.

It's great. You have any other newbie advice for people that just start with a toolkit. Yeah, that's it. And move the needle.

Exactly. Start with the toolkit, get your education down. Start with a couple little baby deals, get your feet wet. Even if it's just, you know, you do paid marketing and you break even on your first few. The Process of getting those done will, you know, build your confidence and you can start pressing forward and really start to scale and see the numbers that you're after.

I love it. All right, Mike Alder, I got a question for you.

Yes.

You're on a desert island, and you can only have one real estate book to read, and then you're gonna get off the island in a year. Which book would you bring with you to completely absorb and kind of even just memorize and come out of that and then have all that knowledge? Is there. Is there a real estate book like that for you?

It's not quite a real estate book, but I would say if I was on there with the 10x rule and was able to jump off the island, I'd be ready to attack for sure. I'd be in really good shape.

I love it. Have you got Grant Cardone on your podcast yet?

I have not. I've not reached out to the big fish yet. I need to do that.

Oh, yeah, you got to do that for sure, Scott. Todd, do you have a business book you'd hang out for a year?

Yeah.

What is it?

The E. Myth.

The E. Myth.

The E. Myth. I would memorize every word of that book. And it's funny because right before this, I was listening to a video with Michael Gerber. The guy. Guy is old now, but the guy still has a way of firing you up.

It's fantastic. I love that book. Original or E. Myth revisited?

Yeah, original.

The original E. Myth. You know, I think about this stuff. I'm not sure what my book would be right now.

I'm gonna.

I'm gonna hold off answering it. I'm in the midst of reading so many.

What kind of. What kind of host are you, man? Like, you set us up only to say, I'll get back to you on that one.

You really want.

You're gonna press me for an answer right now? Read for a year.

I think. I think. I think I have to hold you accountable.

You know, I might. I'm. I might say. I might say essentialism by Greg McCown. I love that book. There's so much in there, man.

I wish you could see my screen right now, because that. That was my tip of the week.

No kidding.

So connected.

I swear, I kid not, man. That was my tip of the week, but it's all good.

Mike Alder.

Yes.

From an accounting standpoint, how is the accounting different between wholesaling, residential real estate, and the land business, man?

I wish I could give you a really intelligent answer on that, mark, but I literally just hand everything to my accountant, walk away, just say, do your thing. That's it. So I wish I could map that out for you and tell you the differences there, but I don't even have an answer for that. I apologize.

No worries. No worries, Scott. Todd, I've got a question. I've got a question for you.

All right.

Given this week's coaching students, what are you seeing this week?

Yeah, I think. I think that what I'm seeing is I see the people that are pressing forward and surviving August. I see that they are, in terms of the sales side, that they are starting to get activity. We've talked before about how August is a slow month. And, you know, I see the coaching students who have pedaled on continuing to do well.

I see.

Where I see them struggling is I see them struggling on looking at deal flow in a very narrow channel, meaning that they mail out and then they expect three weeks to four weeks to have the deals come in, and they're disappointed because they didn't get the response rate that they want as opposed to, I'm going to keep mailing. And then after two months, let me go back and let me look at the deal flow that came in. It's not instant. It comes in over time. And one deal or two deals, and a little bit later month, a few weeks after you've given up on the mailing, well, then all of a sudden you have a home run of mailing.

Yeah, it's funny because I just had a consultation this morning with a new toolkit student. And so he says to me, he's like, mark, I made a mistake on my offers and I took the assessed value, which happened to be super, super low and divided by four, and sent out these offers. And I realized, and I thought, oh, I'm going to get no response. He had two accepted offers. I mean, it's crazy nice.

Mark.

I have to laugh because I mailed to an area and I offered $350 for acre properties. And I know that, like, you've bought there for a little bit by three times that much. Okay. And I just. I just mailed to them and I mailed 200 and I had one. One lady called me back and she accepted the offer instantly. And I'm like, oh, maybe I offered too much. And then So I paid 350 a pop. She had two properties. So right there, just buying the two properties on a mailing of 200. I was happy and content, like, all is good in the world. You know, I bought, I mailed 200 offers. I bought two properties. I don't care if it's from the same person. Two properties have a 2% or 1% response rate, right. Yesterday I get a phone call from a guy. Now this mailing happened three months ago. Yesterday I get a call from a guy. He says, hey, you mail me an offer and I've done some research and I've decided I'm gonna go ahead and accept your offer. I'm like, okay, what I offer? He said, you offered me $350 for these properties. I said, okay, well how many do you have? He's like, I have five of them. So I'm buying seven properties. Okay, seven, like these are acre plus properties. Seven properties on a mailing of 200. So when, if you just look at that, that took me three months to get right from when I mailed. And you know, my response right now my buy rate is three and a half percent because it came from multiple people. And that's okay. It's all about consistency. Just keep mailing, keep mailing, keep mailing.

What's your built in profit on that?

Those properties will sell for 5,000.

Okay, I know, I think I know the area. And I can't believe that you had the guts to mail, to actually offer three times less than me.

Right.

Deal for Mike Alder.

Yes.

Well, see, that's, that's my story because I'm gonna sell them to Mike. What's on Mike? Go sell it, man.

Right, that, and that's, you know, how we can recap this. You know, you reach out to Scott Todd or any other people within the group there that have great wholesale deals and just bring in the buyers and you could either cash out Scott and then carry that note for three times what you paid him for it, or just wholesale, his wholesale, if he was open to that, of course, and put a little meat on top and you keep the difference, you know.

Yeah, I think the lesson in that is that I'm, you know, and I see this happen a lot with, in different, you know, arenas is you can become trapped by expertise. Right. So I think I'm an expert in land investing and that my model and my numbers and my, you know, profit margins are solid. Here comes Scott Todd, who hasn't been doing it for 15, 16 years. Right. And offers three times less than me and gets seven deals. Right. It's insane, but I see it happen all the time and it's amazing. I'm so proud at the same time. So mad in the same area. But look at the end of the Day, I'm making money, Scott's making money, you're making money. Everyone in this niche who's actually working it consistently, we're all making money. It's a massive, massive market with relatively few players consistently working it. And yeah, go ahead, Mike.

You had a couple great reminders there that both you just shared. So Scott said he did his mailing and then had a couple wins and then three months later the wins came back. So for anybody that's new to this, you know, remember, I see people get discouraged all the time that they'll do this big mailer and nothing happened. Well, just because nothing didn't happen right away doesn't mean you can't pick it up on the back end. So keep that in mind. And then obviously it's a numbers game to keep mailing. You know, If Mark's paying 900 for these and Scott's getting them for 350, you know, just keep mailing. And you never know what somebody will actually say yes to. So don't be afraid to make those low ball offers out there and just keep pressing forward.

Yeah, you're dead on. You're dead on. I mean, it's, it's, it's all about Ikea. I always say, like, keep moving your feet. When you run into problems, keep, keep moving your feet. Just keep moving your feet. And you know, that's the thing is when you reach challenges or difficulties, just keep, just keep going because you'll, you'll come out on the other side better and your, your mental fortitude will be a lot better. Also, Mark, you were talking about the consultation that you had where someone, you know, he offered the wrong price. And the best story from a coaching student. I'll leave her name out. She basically said that the very first person ever called her on an accepted offer was one where she made a mistake and she offered $0 for the property. He called and she, I think she ended up buying that property. So even if you spend forever trying to get the pricing right, there are people that are, that are making a mistake and they're sending offers for $0 and they're still getting deals.

Just mail. That's awesome. That's in the numbers there. You never know.

Yeah, you never know. All right, Mike Alder, what is your tip of the week? A website, a resource, a book, something actionable where the art of passive income listeners can go right now, improve their businesses, improve their lives. What do you got?

I truly believe that all your success comes from how you feel about yourself, your confidence, your personal development. Journey, if you will. So my tip is to go out and find somebody that you really can connect with, whether that's Joel Olsteen, Tony Robbins, Shalene Johnson. Go out and grab one of their books, and then just dive in. Because when you're confident in yourself, I mean, it makes your negotiation skills that much better. So that's my tip of the week. Go out and build upon yourself, and it'll help you build your business.

I love it. I love it.

Scott. Todd.

All right, Mark, so what's your tip of the week?

I'm not going to use essentialism. I'm going to give you a different book. Okay. And I'm going to bet you haven't heard of this one, so I'm going to help you add it to your list. It's called design your day, Be more productive. Set better goals, Live life on purpose. Claire Diaz Ortiz. Have you ever heard of Claire Diaz?

I haven't, but I went just now ordering the book.

She.

She was. She was. She was at Twitter. She worked for Twitter, and she was like one of the original employees of Twitter. So, like, her Twitter handles even, like, at Claire, like, her name, Claire. It's crazy. You know, what she really talks about in this book is really just, you know, planning out well in advance what that day looks like, what your day looks like. Create, you know, batching, which I know that you batch a lot, you know, in terms of doing tasks that are like the same, like, at the same time, so that you keep moving through them as opposed to all over the place. Really, really maximizing your time, you know, too often times. And I mean, I see this with people as well. If you only have two hours a day to do this business, well, then how deep have you mapped that business out for that two hours? I mean, what most people do is they sit down and they start writing ads or they start prescribing a list, and then it takes them two hours to do it, and they go, oh, it's two hours. I've done it. Whereas they didn't compress that time enough. They didn't have that laser focus. They didn't execute on it correctly. And then they're doing things that they have no business doing. They're doing things that they don't even enjoy. Get rid of the stuff that you don't enjoy. Claire talks about that.

I'm definitely getting that book. I love it. Right now, I'm reading. What am I reading? I'm reading two books. I just got through Malcolm Gladwell's. You know, I'm a history geek. So I just got through Malcolm Gladwell's podcast Revisionist History, which I highly recommend, by the way. It's so interesting. But as far as a business book, right now I'm not really reading anything businessy. I'm reading Strangers to Ourselves, which is more psychology, social psychology book that was recommended by Malcolm Gladwell in Brainstorm by Daniel Siegel, because I have two teenagers and he talks about the teenage mind. So I'm kind of taking a little business break, but I'm definitely get back into that. My tip of the week is I always have this, you know, this, this issue with, you know, taking action right away, right? It's called the law of diminishing intent. So the longer you take action, right, the more likely you are you're never going to take action. And this happens to me all the time. I get out of the shower, I got a great idea, and I don't take action on it. And then the day gets ahead of me and I forget, right? So there, you know, I'm already into bots. If you haven't subscribed to Land Geekbot on Facebook, definitely check that out. But there's an app called Wonder Bots and it's amazing. It remembers the things you easily forget, right? So you just. Would you put in your mobile number and you could type in, like, here's like an example. They said, remember that my mom's favorite drink at Starbucks is a white chocolate mocha comma no whip. And then it says remembered. And then you type in what's mom's favorite Starbucks drink? And it writes back to you. White chocolate mocha, right? So I can get out of the shower and then just go into here and put in my idea. And then like, what was that idea I had about automation? And they would just tell me again, right? Tip of the tongue phenomenon. Be gone. Use natural language. Remember things. You're wondering, what's my. What's my lacquer combination, right? And you put in your locker combination. What kind of ink does my printer use? I mean, it's unbelievable what you can do with this thing. So, wonder-bot.com what do you think, Michael Alder? You like it?

That's something I'm absolutely going to utilize because I forget everything, so that'd be great. I'm gonna download that.

Yeah, it's free and it's free.

It's free.

Scott Todd. You like it?

I do like it. There was. There was a thing a few Years ago, like 10 years ago, I think it was called, like, Ask Sally or something. And it was the coolest service because maybe with Sandy. Sally. Sally your virtual assistant. Or Sandy. Ask Sandy, your virtual assistant. And you could, you could, you could do something like that exact same thing. But all it was all through email and I loved it. Sandy knew everything until she went away.

Awesome. Awesome. Well, listen, I gotta hop off. I've got another interview I gotta run to.

So two seconds here to hook up the audience.

Yeah, Mike, go ahead.

Let's do this. Alright, so I said let's do a personal development book. So I'm thinking Awaken the Giant within by Tony Robbins. Scott Todd, you said design your day was your tip or your book by Claire Diaz. And then essentialism came up a few times. Right. So Scott, do me a favor. Pick a number between 1 and 10.

8.

8. Scott doesn't like my pockets. That's great. So this is what we're gonna do. Why don't we send the listeners over to takingactiontoday.com we'll hook them up with some audio. Audios that'll help them build their business, raise private money, things like that. And then what I'll do after 10 days of this podcast, I will send a list out to Scott and Mark. You guys each pitch, pick four people from the list and I'll send three copies of those books to each one of the people you pick out. Okay?

That's really generous, Michael. Thank you.

That's great. Hey, let's hook people up this year.

You know, I love it. Learn more about Mike. Go to Mike Alder. Is it Michael Alder? Yep.

Michael Alder. A l d e r.com go to.

Michaelalder.Com and subscribe to his podcast Real Estate Strategy Session. Give Scott Todd some love. Right. Go to posting domination.com thelandgeek start automating and saving time on your Craigslist postings. Get some wholesale property landmoto.com wholesale. Flip it like Mike Alder. You don't even have to do any.

Kind of paid traffic.

And give me some love. Go to the landgeek.com download for free the Passive Income Blueprint. Get the ebook how to Avoid three Fatal and Buy Mistakes. And get this always informative and engaging podcast delivered each week to your email inbox. Scott Todd, let freedom ring. Thanks everybody. See you next time.

See ya.