Join the Land Geek Community, Profit & Passive Income - Nite Cap with the Land Geek Guys!

What's up, dude? Buddy.

How is it going this evening?

Pretty dang good. I'd say we had a great. I'll tell you. Very excited. We had our first ever working lunch inside of our mighty networks group. So those who don't know what our mighty networks group is, that's.

We should wait for some viewers.

We should wait for some viewers. We live in the rerun. We live in the rerun.

We do. We do live in the room, but. All right, let's. Let's banter for 10 minutes first.

All right.

We have one viewer.

Take two. Take two. Testing. What's siblings. Siblings.

Siblings.

I don't know what movie that's from. What movie is that from?

I don't remember.

All right. Usually you're right on top of that.

I usually am, yeah. But I don't remember what that's from.

What are you drinking tonight?

Make it a little. Little. Make his mock in the. The nightcap. The nightcap glassware.

Yeah.

So established. 2018.

I love that. This is just a little James and ginger.

Oh, nice. I like James and Ginger.

The viewers at my side. Wisconsin water at its finest.

What?

I told you. I drink this stuff all the time now. It's my. It's a little pricey, but, you know, not all water is created equal. They had a special, I think it was on Netflix with that. Who's that young actor? Zac Efron.

Yeah.

And it was all about water. And they had like, you notice, is it sommier? Is that the right word for someone does wine? Well, there's a guy who's that equivalent with water and he talks about the different types of water. This one's pretty awesome. Yeah, it's from lang legged. Lang legged springs in Polo, Wisconsin.

That's pretty awesome. That's a good series. Did you watch that entire series?

No, I don't. I only watched a few episodes. But do you remember they talk about the different types of water. I thought that was so impressive. Yeah.

And some were a little saltier than others. And I thought it was interesting. I don't have the palate. I don't know if I have the palate for water tasting as much as I do for bourbon tasting, but I mean, I'll taste wada.

So do we have viewers now? We've banted a little bit. Did anybody roll in?

Zeke Landy's here. Zeke, you've spent a lot of time with us today. So now we can see segue into. Yeah, we got some viewers coming in. Zeke, nice to see you. But Mike, before we Got any viewers? You were saying.

First of all, we live in the rerun. I was saying I was pretty excited as. And Zeke, you were there for both of them. We had our first ever working lunch. Now we typically do working lunches at the boot camps. Right. So the virtual boot camps. Scott and I will do a working lunch and those are always very fun, you know, where we can talk about the land investing while people are eating in between the sessions. So we're gonna be doing that every week, every Wednesday, 2:00 Eastern Standard Time. Now that's in our Mighty Networks group. So some of you watching probably, or some of you may not be, I should say, in our Mighty Networks group. Well, how do I get into that, Scott? I want to see, I want to participate in the working lunch. How do I get into Mighty Networks?

So Mighty Networks is, are more, should I say, intimate community for the Land Geeks.

Yeah, we're all like minded. As opposed to the Facebook group which could have some rogue elements. Right. I mean there's 5,000 people in there.

I think there's more like 7,000 now.

Wow, it's growing. Yeah, I remember when there was under 100. It's, it's really. Yeah. So we just let everybody in there because it's an open sharing community. But that being said, you know, the Mighty Networks is really the bread and butter. It's really, it's, it's really all the Land Geek philosophy and everything is sort of vetted and very, you know, just correct in what's transmitted. Not to say what things on Facebook aren't correct. I'm just saying that who knows who's giving the opinion. Right. So you have to sort of take that into consideration.

Yeah. So to get into our Mighty Networks group, which is, you know, the thousand of us Land Geeks who, who like to talk land, just go to the land geek.com and sign up for the passive income launch kit. I believe it's free. Used to be $97, but I believe it's free. You sign up and you go right into our online community. And in that online community we have now, we have some special events that we advertise every now and then. But this working lunch I'm kind of excited about because. And Ken Badziak is here. What's up, Ken? So Ken, if you're available on Wednesdays, we're having, we're having from here on out, Every Wednesday at 2pm Eastern we're having a working lunch. It's just a zoom link and you come in and today we had like 12, 13 people there. And it's cool because they're at all stages of the game, right? So we have somebody. We have people who just found the business. We have people who. Who just got the toolkit or who just started flight school. We have flight school vets in there. So Andrea Miller was in there today, which is awesome. They started this year and a half, two years ago. They've had 35 sales, something like that. So it's nice for other people to see that there's some proof of concept in the room. And she asks really great questions, and it's just a really kind of great collaborative discussion, and it helps people with their information gathering as they're starting this business. What are you smirking at?

No, my dog, he doesn't often come in here. He's just sort of hanging out down here. And, you know, he's not always the most friendly to me, so I'll be like, what if I got bit live on air? That wouldn't be good.

He was mean to me when I met him. And then he warmed up.

Well, he didn't like the fact you let the rogue cat in the house.

Right. The cat who looked like your cat, but it wasn't your cat.

So we have this cat that roams the neighborhood. It looks like one of our cats. And screws. Scott's out on the phone. Next time I'm looking down, my other two cats are, like, getting ready to just jump on this other cat. And I'm like. And Scott was just out there, like, oh, cat's outside. Get in there. She was a neighborhood cat in the house.

That was good stuff. Good stuff.

But, you know, we also had. I think it was our second 101. Right. We do this once a month. We have a land investing 101. Basically, if you've never done any land investing or you're thinking this might be something you want to try, we just talk about the fundamentals. The bread and butter, as we say. So you get the bread and butter there, but you get the meat and potatoes on the work at lunch.

Oh, I love it. The bread and butter and the meat and potatoes. Only you. Only you. John Sinkovich is here. Little finger up. When we drink out. When we drink the water. That's right, John.

Especially the Wisconsin water.

Yeah. I don't know. Do I drink with my. I'll have to go back and watch some episodes. Do I drink with my pinky up?

It's kind of a. I would say more than 50% of the time.

Really.

You know, this I'm thinking, I don't know. I haven't really. I have never really truly paid attention to it. But I'm now thinking in my mind, I'd say more often than not.

All right, now I'm going to tape it down because I'm self conscious.

Nothing wrong with it.

No, I know there isn't. I got a bug flying in my hair, my face now. So why are we. I mean, we're here for a reason, right? We're here to answer some more questions. So, Zeke, if you have any unanswered questions from today, post them in the chat. Ken, hope you're doing well. Hope you're coming to Vegas like you said you were a couple months ago. You said you're coming to Vegas. So I hope you're coming to Vegas next month because it'd be fun to share a bourbon with you in real time. John Sinkovich. Hope you're doing well. Any questions about the land business, throw them up there.

Yeah. So this really, for those you are just tuning in, this started a few years ago, 2018, three years ago, because we realized there are people that, you know, are working this business at night, right. They have some free time. And let's, let's come on, let's entertain them. Let's answer some questions. So we probably, we do it for the community. We do it because we enjoy it. So for ourselves, our own selfish reasons, we love just coming here, having drinks, talking about land investing. So it sort of works out. Everybody wins.

It really does. It's become my social hour with you. I love it.

It's our hangout time and you guys just hang out with us.

So Ken wants to know when is boot camp? Ken, boot camp is August 13th through.

The 15th or 12, 13, 14.

Well, 12th isn't technically the start date. The start date is Friday the 13th. So, yeah, August 13th through the 15th. Flights are cheap right now to Vegas.

Yes.

So and Ken, like, you fly your own plane there, Ken, because he's a pilot, Mike. Did you know that?

Yes.

Yeah, he's always posting.

You got to be there.

I have to say, like, he's always posting the most amazing pictures from when he's working 30,000ft in the air. They're beautiful pictures. So, yeah, come join us in Vegas. Boot camp for me, Mike, is where, I mean, it really sealed the deal for me that I was going to continue doing this business.

Right.

I went in, even though I'd done a sale or two, I went in a little tentative. I came out of the weekend excited. My wife Was like, we're doing this pushing me. Right. Which I'm glad for because if she hadn't been there, I don't know if I would have taken the leap that I did with coaching at the time. But boot camp is a phenomenal weekend. Vegas is where I Met Mark in 2015 and Scott, Todd. And it's, you know, there are a lot of people in the room who were in my position, but there were some vets in the room who were doing deals. And it's just like you say, the powers in the story. There are a lot of stories at boot camp that are really going to help fuel kind of your land investing fire, don't you think?

Yeah, absolutely. The networking alone, never mind all the segments that you're going to encounter from the different coaches and Mark and Scott, but meeting the other people because he's not often you're going to run it. You're not. It's probably not very common that you're going to pop down to the grocery store and run into another land investor. Now if you're a realtor, you might pop into another realtor, you know, but to pop into another land investor, gonna say it's extremely rare. Right. That that would happen.

Never. Never happened to me.

Yeah.

Yeah.

It shows you the power of our niche. Right. And so when you get together and there's a group of 50 or 60 or more, it's pretty awesome because you can hear some real stories that relate to this business and where. And then you can sort of, you know, correlate that to where you are in the business and. And just grow. So very, very powerful.

Yeah. And Peter is asking. Peter Carroll, nice to see you. Is there a link for boot camp? There is. I'm not able to type it in YouTube. Well, you're on Facebook. But if you go to thelandgeek.com Boot Camp, you will find information about the boot camp. And Peter, I think you've gotten the toolkit, correct. So if you've already gotten the toolkit, you have two tickets to boot camp, you're good to go. If you've already been in flight school, you have two tickets to boot camp, you're good to go. So for those people out there who.

Have taken something, we typically, you know, say, hey, go and purchase some boot camp tickets. We do this for our community, people that are actively working with us, whether they're in the toolkit of flight school coaching. So this is something we do to help them grow further in the business and help. So I think that's important. To point out, it's not like we're out there like trying to get people to go to a boot camp. It's not about that. It's about people that are already working with us and we're doing this to add value.

Yeah, that's very true. I love that. He has another great question, Mike, that I think you. It'd be great if you could touch on. How much training should I have before boot camp, before I go on my first boot camp?

Yeah, some. A little bit. None. A ton. It doesn't really matter where you are because you'll pick up tidbits and you know, you'll pick up something that will dramatically help you in your business no matter where you are. Even if you've been doing it for five, six years, you're going to hear something because this is. All of the people that are really crushing this business are there and you know, they're gonna talk about what they're doing. And there's always something to be learned, something to take home. And so it doesn't matter where you are, you will learn from where you are, where you're at. Right? You, whatever you need to hear, you'll hear because that's where you're at. So there's no better time. It's always a good time to attend a boot camp.

Yeah. Honestly, I think I probably could have attended my first boot camp after I heard Mark on the first podcast I heard him on, because he laid it out there for me. He's like, here's what we do. We buy land for 25 cents on the dollar. We target, we target sellers through direct mailing. We self, we do our due diligence, we self close, and then we turn around and sell it. And the boot camp, you know, the entire first day is just kind of breaking, breaking that down. Right. And learning the anatomy of that land deal from A to Z and, and some other, some other modules in there too. But I think if you just have kind of a general understanding of the business before you to boot camp, I think that's, that's perfect. A great way to get a general understanding is to read Dirt Rich. I mean, Mark, Mark lays it out there, you know, on audible. It's like a three and a half hour listen. It's a great, great way to learn about this business. And Mark, he actually has a head. Did you see his most recent YouTube video, Mike?

No, I don't think I did.

It's about a 10 minute video of Mark describing the business. It's really well done. It's nicely produced, and it's got multiple thousands of views already on YouTube and that type of thing. So that's. If I could throw it in the chat, I would. But if you go to YouTube, actually on Facebook, I can. So I'll do that.

So I think the biggest thing you really need in the beginning is a belief that this is real and that this is possible. All of the other details will flesh themselves out as you work through deals. The biggest thing is are you willing to take, you know, some actions necessary to begin to, you know, change, you know, what, you know, your life, really, because that's what happens. So you just have to believe this is real. So what. What's nice about this, what we do here in the roundtable and the different podcasts, is, you know, again, you bring in just a variety of people that there's nothing unique. They're not, you know, they don't come from big real estate backgrounds. They're just sort of everyday people applying the model. And once you understand the power of it and that it works, all the other stuff you can learn as you move through a deal, and that's what flight school does for you. You can learn that in the toolkit. So I think the biggest thing really is to believe that you can do this.

Yeah, for sure. I'm going to post the link. It's actually a nice video about Mark's 10 reasons why land Investing is the Best Passive income model.

Nice.

So I love that.

Scott, I thought you'd be debuting your new glasses tonight.

My new glasses?

I mean.

Oh, you mean these.

Pretty stylish.

Yeah.

I don't know.

I mean, I'm getting used to them.

Oh, sorry. Hold on one second. I'll move it.

Do you have your crisp app on? Yeah, I got. You know, I have presbyopia. You know what presbyopia is?

No.

I mean, it means. It means old age eyes, basically.

Then I have those as well.

Yeah.

Let me move. I'm going to move my dog to the next room. Excuse me.

Okay. You move your dog to the next room. James Larocque. Larocque is boot camp. Sold out. Looks like the special hotel rate is gone. James, I think the special hotel rate is gone because we only had a limited number of rooms. However, I would do some searching because there are some great rates right now in Vegas. And even if you're not directly in our hotel, there are some nearby hotels that are very affordable. And that's what I did when I went to Vegas first time. We actually stayed remotely Stay at Space Needle and rode into the Westin or rode in the Marriott for the conference. So, Mike, did I ever tell you about. I've told you. You remember we were at boot camp, Aaron and I, and we went to Chinese. It was Saturday of boot camp. And on the Saturday boot camp, it's kind of a powerful day. Mark talks about his wealth mindset. Mark has his wealth mindset module. There's a lot of talk from. There was grill the geeks. So we got to hear from all the geeks who had been having really great success in the business. And we went to Chinese that night for. For food and the fortune we got. The fortune I got was open it up. And it said, you will be coming into a fortune soon. And I'm like, wow, that's speak to you. Yeah, exactly like, that's pretty prophetic, right? So. And we kind of laughed about it at the time, but Aaron kept it and put it in a little frame and dated it. And I. I think it's. I don't know, it's just really neat because I wouldn't say fortune, right. But I. But fortune can mean different things. Fortune can mean financial, but it can also mean something else. Yeah, something else that's really meaningful to you. Right. And what have I gained from this business? I mean, I've learned so much about myself. I never. I never thought I would take the chance. I never thought I would get to where I would get just. But just by following this model. So perseverance, the fact I've been. You know, I've been able to persevere. I've gained some of the best friends I've ever met. I've done some amazing deals that have made a lot of money. And now I have time, freedom. So, like, there's that Fortune was absolutely true. But that's. So I thought I'd share that story. I think probably shared that with you.

Before, but I don't think you have. I love it though.

Yeah. Fun stuff. Any questions out there? Any questions? So. And if there are no questions, I think it's time for a segment.

Oh, and you have the backboard up. Let me get out the telly. I gotta get the telly. Because you're getting close to getting one in. I feel it.

But you know what? I'm. I'm missing. I'm missing the card. I'm missing the card I need.

So far, we've had 20 throws. God.

Oh, my gosh.

I'm.

All right. Well, I'm missing the card I need, but I'll Just throw a different card.

We've never discussed we were going to give something away if you got it in, but I think pretty much I assumed you're probably never going to get it in. We didn't. I didn't worry about what we're gonna. Are we gonna get. What are we gonna give to someone? You know, how are we going to figure out who wins it? Are we going to.

Well, I think when I make it, you're going to give someone on the call $100. I mean, I'll split it with you. 50. 50.

A gift card. We'll send someone a gift card.

We'll send somebody a gift card and we'll put everybody. Everybody who has commented, we'll put your name in a hat and we'll draw at the end of the show and.

You get a gift card to somewhere special.

Yeah, somewhere special.

And so that's all predicated on Scott making it in. And I've got. He's got 20 throws and he's gotten pretty close. I imagine you probably practice day after day in between different nightcaps.

Yeah, people. People don't really know what you're talking about, but they'll know here in a minute. But it's time for the refill segment. And normally I have a card for the refill segment. I can't find it. So we're just gonna pretend it says refill segment. It's probably back there.

But you did that. You complete me on the last call, you know, because you were going to talk about. What were you saying? You. We were talking about something. It might have been the magic in the store. No, it wasn't the magic in the story. There was something, and I was about to say it on the last call we had, and you said, I got out. And I was gonna say, geez, you complete me. But I figured the people in the call think that's weird. I didn't say it.

Anyway, this is the refill segment. So normally our refill guy, Matt Forbes, comes in. He not only comes in, he sits with us. He used to, back in the day. He just used to. I feel so bad. He used to come in for five minutes just to have a refill, and then we'd, like, kick him off the call. We're jerks.

Those are back in the Roman swivel days.

Yeah, back in the Roman swivel days. But Forbes, who is an integral part of the show, he's just. Let's see, last week he was busy. This week he's on vacation. So this is in Honor of you, Matt Forbes, our true. Our one and only refill guy. We miss you. We love you. We want to see you at boot camp. So come to boot camp. And here's to all you land investors out there who are working hard this week.

Nice. Now throw the card.

All right, ready? It's close.

That was like a boomerang and hooked and it almost went right in.

It was very close.

I think you have to go a little higher. I think it's the level.

All right, I'll go a little higher.

Yeah.

Later. Hey, we have a question.

21.

We have a question.

We do.

From John Sigovich. Oh, my glasses give me a headache. Still. John Sinkovich. All right, this is good. John's talking about an Arizona deal. And in Arizona, Mike, in order to self close a deal, you need a deed and you need the Arizona affidavit or property value. And he says at the bottom. At the bottom it says seller slash agent, and buyer slash agent. Do we need to sign and notarize for the seller and the buyer notarizes as well? Could we sign as both? You can sign as both, John Sinkovich. Which is the beauty of that form.

Yeah.

Saves a little bit of work for your seller or your buyer. So on the left side of the form, circle buyer and sign and notarize it. On the right side of form, circle seller's agent, sign it, notarize it, and vice versa if you're doing the opposite.

Yeah, that's typically how I did it, but I haven't done many deals in Arizona in a while. Actually, I have. Well, I have one, but that's on terms. So I haven't done anything. Gone full cycle in a while, so. But that's how I did it back in the day. Just as the agent.

Awesome. The person I'm working with doesn't have an email, so I'm doing snail mail. Yeah. So that. That'll simplify your process a little bit. All they need then, John, is the deed. Get you to copy the deed. Cool. Any other questions out there, Mike?

Thoughts, questions, comments, topics for discussion? Anyone?

You reading anything good lately, Mike?

Well.

Or watching.

I need a new book. I need a new. I started reading some philosophy and.

The.

Couple books I tried. I just bought them. I put them down. So I'm looking for. I'm searching for something new right now to read. So I don't really have a current book. I go in little spurts. I'm not a consistent reader, but I do like to read. And when I get into one, I will Finish it. What are you reading?

I'm reading a couple things right now, but they're fiction. I'm reading the crossing by Cormac McCarthy.

So.

Cormac McCarthy is an amazing author. His stuff is really hard to read. Have you read the Road or seen the movie the Road?

Is that the one with the new. It's like the End of the World and the Father and Son?

Yeah.

Great book. So is this along those lines?

Well, he also wrote no country for Old Men, so I'm actually reading. I'm reading all of his books. And right now I'm reading the Borders trilogy, which is all the Pretty Horses, the Crossing and the. The last one.

I can't remember that because I did read and then watch the movie the Road. Right. Because that was with. What's his name, the movie?

Aragorn King. Aragorn.

No, no. Who was the actor?

Yeah, it was Aragorn from Lord of the Rings. It was. What's his name? Yeah, I can't remember his name right now, but that's who it was.

Yes. So the book was much better than the movie, but I loved that book.

So I did, too.

I never keyed into the fact that that's who you were reading. So if I loved that book, which book of his should I read next?

No. Country for Old Men is an amazing book. And then, I mean, the movie's phenomenal, but I would definitely read. I definitely read the book.

Well, the movie's kind of, like, unnerving. Is the book unnerving?

Oh, yeah. Yeah, for sure. And all the Pretty Horses I really liked, so. But he's got a very interesting style. Right. Like, entire page would be a sentence. Like, it's all run on. It's crazy. Oh, Viggo Mortensen. Thank you, Ken Badziak. I was blanking on Viggo's name there. But anyway, that's what I'm reading right now. And. You ready? Because I'm a geek. Because I'm a land geek. Here's what else I'm reading.

Looks like it's heavy. What? Show me the front again.

It's a show on show on Amazon now. It's by the walking Dead author. 50 issues. 50 comic issues in there. So that's what I'm reading. It's a superhero story.

Is that a good show to watch?

Yeah, it's good. It's good. You like it? It's like 10 episodes. Invincible.

My son has me watching the Demon Slayer. I never heard of a Japanese cartoon. It's pretty cool. They just had A movie, too. So. All right, I'll check it out, but I'm gonna. I don't know. You know, like I said, no country for Old Men was kind of unnerving. The book, I think, would be really book of the week. Oh, see, that's the right height, but you just had to go back to the same angle.

All right, I got it, Zeke. Zeke has a question. If you had to guess, I mean, if we ramble long enough, somebody would come up with a question. That was my approach there. If you had to guess, what do you estimate your average profit per letter mailed? That's a. That's a great question. That's like a baseball stat, Zeke, that some. But no average profit per letter mailed. So I guess think of it as a batch. Let's think of it as a batch of letters.

Let's go on the. Let's go. Let's under. You know, under. So let's say 200 letters got us a deal. Let's go that way.

Yeah. 200 letters got us a deal. So 200 times 65 cents.

Yeah. So there's all those three kinds of mathematicians. Those who can add and those who can't. So let me get the calculator out.

$200.65 is $130.

So $130 spent. And so I think an average. If we bought a property for $1500. Right. And you sold that property for $150 a month, times, let's do 36 months, that's $5400. That's pretty standard.

So minus. So then minus your cost of the land, minus acquisition.

Yep. Profit. And I guess we could just average that 3, 900 profit over 130. What was the letters mailed?

131,600. Yeah. So $130. And then you got some closing costs. So let's just call it $200 for.

The deal to 3900. $200 to 3900. So I don't know how to make that into the percentage he's looking for. So per letter, profit. Is he saying profit per letter?

Yeah, profit per letter mailed.

All right, so that was 3900, and I divided that by 200. Is that right? So that's not right. That's the other way around.

I think we could make it simple, though, and we could just say for every 200 letters mailed, you're going to have a sale that results in.

Right. You're looking at every 200 letters. You're going to be making anywhere from three or five thousand. No, two to five thousand dollars.

Two thousand to five thousand dollars. And whether you're mailing an area where you're buying land for $1,000 or you're mailing an area where you're buying land for $5,000, which also. I mean, that's also a factor to take into consideration here. Your cost of mailing is 130 bucks. So for every 130 bucks spent, we're able to buy a property, and we're gonna be able to sell that property for 300% or more. And here's the other thing. When I sell that property, Mike, what do I charge? The buyer.

Doc fee.

You complete me. I charge the buyer dock fee. Oh, I think it went in.

No, but it was dang close.

You charge the buyer dock fee. Right. And our doc fee. A lot of us charge a doc fee of $249. So listen, that $249 doc fee on the sales side takes care of my acquisition costs. $130 for the mailing, $70 for closing. Maybe some other due diligence in there. What's so funny?

It's crazy. No, it's just crazy. If you think about the profit we make on. It's hard to. And people are getting a sense for our wonderful math skills right now. Okay? So that's.

Besides, I mean, I've had a bourbon or two.

Zeke. It's a good return. I don't know the percentage.

It's a pretty good return, Zeke. And it definitely depends on the area. And, you know, it depends on if it's a minnow, a dolphin, or a whale. Right?

Yeah, we talked about that today, too. Yeah. A lot of. A lot of things to consider. But I'll tell you, it's a great return on your investment.

Really is.

It's a lot better than a lot of other things you could spend $130 on. Right.

Which we waste in no time. You probably spent that much today at the movie theater with all your buttered popcorn. Popcorn.

Well, let's see. We had the five of us. It was Laura and I and the three niece and nephews. Nieces and nephew. So, yeah, just to buy the popcorn. Three popcorns was $30. To get into the movie theater was another $30. That's 60. And we got food because it's one of those ones you can get food at. So, yeah, we were well over two weeks of mailings.

See, there you go. I heard the Cruella movie was pretty good. Was it good?

No, we. No, we ended up because of the timing. All we saw the big. The Baby Boss one.

Oh, okay. All right. Isn't that a sequel or something? Is it good?

Yeah, I don't know. I never saw the first one. It was. To me, it was more about having the beer and the burger and spending time with my nieces and nephew because we don't see them that often. But they loved it. And it did have adult humor as well. So it was a good movie.

Nice. Good deal. John Sickman has a question. He offered $550 on 1.25 acres. Got a counter offer on the property in Navajo county for 1800. So he offered 550 counteroffer. 1800 counts are going for 2000. If you don't include Luke Harris prices, what would you do? Ignore or haggle? Well, if you're Mike Zaino, you're going to get on the phone with that guy and you are going to. You're not necessarily going to haggle. You're going to kind of work your way into this really awesome, meaningful conversation that results in.

So what was the offer price?

So the offer price was 550. The comps are 2000, but the counter was 1800. So it's a high counter.

Oh, you know, you might close them at a thousand. Typically, if they're not coming back with a counter. That's absurd. And like, like, if they came back and you offered them 500, they came back and said 5,000 or 10,000 or whatever, chances are there's no deal. But they're within striking distance. You could get them down to a thousand bucks.

Yeah, get them down to a thousand bucks. And then it's like you're buying a property wholesale. Right. You can double your money on that deal, John. So totally up to you. But, you know, that one may go to kind of the middle of the pile. When I'm doing deals, if I have some deal flow coming in, you're gonna have your humdingers, right? Yeah.

Which are the signed, accepted offers consistently mailing. Because you don't feel pressured to buy a deal like that if it happens. You. If you had 5, 6, 7, 8, 10 people looking to sell your properties in an area and that guy came along. Well, you're like, listen, I'm buying other properties for X. If you ever want to meet me here, I can do it. If not, I appreciate the opportunity and your time and thank you so much and good chance that you'll close that deal. So, you know, the mailing, the consistent mailing unlocks so many great things in this business, and one of them is that.

I love it. Dale Firebird says appreciate. Oh, that's nice, Dale. Appreciate all the great knowledge and info you guys provide. Constantly. You're providing knowledge, Mike Zano. Thank you.

And you're doing it while wearing a pretty dang cool shirt.

I like it. I like my shirt. I do. Pretty, pretty cool. Pretty, pretty nice segment.

I want to see you throw another one. You're going to get one in tonight.

All right, let me find a Facebook quote or question of the week. But in the meantime, I do have a question for you that I received today. I thought. I thought this might be a good thing to talk about in office hours. Have you ever been in a situation, Mike, where seller says that he or she will only accept cash? And what would you do in that situation?

Because seller or the buyer? Are you saying the seller?

Well, the seller will only accept cash? Like we're talking hundreds, we're talking paper money, cash. What would you do in that situation?

I have done cash deals. With that being said, I tell people, this is. I. It's the same thing, I guess. Why I was asking. When I'm selling property, if someone says, I want to meet you, and the only way I'm doing this deal is if I meet you right, I usually come back and say, well, you know what? It's okay if we don't work together. If that's something that will prevent you from having this great price on a property that you and I know you love, then that's okay. But I'll tell you how we typically work, because we've worked with ton of people and they're very happy and very satisfied, and this is what we do. So I think I would use that same version to someone who wants to only cash on buying property from them and say, you know, I understand that, and if that's a. If that's going to prevent us from doing this deal, I fully understand that, and I'm happy to have had the opportunity to work with you. But I can tell you we've done hundreds, so we've done X amount of deals like this, and it works very well every time. I could send you a money order if you really want to have something. That's the closest thing to cash I can do. And I'd walk them through how they could get that. But, you know, there are times where we can't. We can bend, but we can only bend so far. Right? We don't want to. Even on the sell side, like you think you Want to sell this property, it's always important to realize you have an asset that somebody loves. Whether you think it's a. Whatever kind of property it is, somebody's going to want that property. Right. And so you, you really can't keep bending to. Oh, yeah, yes, we'll finance the down payment. All these little things, right. You. You just can't do that.

Awesome. Yeah. I mean, every once in a while you're going to find somebody who, for lack of a better term, I guess is old school. I don't know, I don't mean to be, you know, insensitive when I say that, but every once in a while you're going to find somebody who says, cash in hand only. That's the only way I do deals. Like, I keep my cash and buried under my house, whatever. And that's how I do my deals. I'm my own bank. Right. I've heard that before. I don't use banks. I'm my own bank. Like, okay, that's interesting. So I've done the money order thing before, right? Somebody who wants cash in hand, money order. I've done the Walmart moneygram, which is a cool tool. I had sellers pay me via Walmart MoneyGram for a long time.

It's not so fun to cash those in, though. You got to wait in that line.

Yeah, but it's not a big deal. Like, you just show up, you show them your id, you get your money.

It's not a big deal at all. But it's not the most ideal. I was thinking, I was thinking. What I was thinking is I did do a cash transaction in Florida one time. It's kind of an interesting story about, you know, there was a property that I wanted to buy for $5,000. So it was a more of a dolphin, I guess you'd say. It wasn't the typical, you know, wasn't the typical 2,000. It was a $5,000 purchase. But the guy wanted 7,000. And I was going down, my wife and I were going down to Florida and I happened to realize where we were going is where this gentleman lived. And it happened to be somewhere in the beginning of the spring. So I just called him up and I said, hey, I'm gonna actually be in your town in a week and I still want that property. And I know that you wanted 7,000, and I know I wanted to offer you 5,000, but I just wanted to tell you, if you, if I could just have a moment of your time. The reason why I say 5,000, I said there's a cost to my team. There's this, that, the other thing. And I'd still love to work with you if you'd be interested. I just thought, you know, hey, it's so ironic. I'm gonna be in your town. And he said, geez, Mike, normally I'd say, no, but I just did my taxes, and I will take that $5,000. And I was like, all right. So he went down there, interestingly enough, we went to the TD bank down there where we have our banking. And he comes in with his wife. So his wife's the chief of police in this town. So she comes in all decked out. He's like a SWAT guy. He comes in all decked out. The next thing, I'm at the desk taking five grand cash and turning to the chief of the police and just laying down cash, like. And the tell is, like, what the heck is going on here? And I'm like. But it was just interesting. I was just thinking about that. That kind of made me chuckle. But it shows you a few things in that story, right? No is not always no in that regard. Like, you can always negotiate, and if you're sincere. And I was very transparent as to why I wanted to offer the 5,000. I usually sell to other people. They pay me monthly. I have to fit in a certain dollar amount for this to work for everybody, blah, blah, blah. The truth is, he just. The timing was just right. That's why we mail letters over and over again to the same areas. Because he said to me, geez, Mike, I want seven. But I just did my taxes. I'll take that five.

I'll take that five.

And I made a lot of money on that deal.

That's awesome. I've done one cash transaction on the buy side and the sale side, but only because the guy was buying property from the properties in Colorado. He ends up living a mile away from me, right? Which is really weird, right? But he's like, hey, can we do the ca. Since we live. Since you live so close, can we meet and do cash? Like, sure. And then another time. And this. I don't. I live in Wisconsin. I don't buy and sell land in Wisconsin, but I've done a couple deals in Wisconsin. Just because I came across these opportunities, I knew they're good deals. So I bought a property in Wisconsin. It was an acre. And I actually went to the property. It was an hour away. And the guy paid me in cash. But it was because it was convenient to me. You know, I buy and sell land out west, if I come across those people who, you know, demand to be paid in cash or demand to buy in cash, I just may not be able to make it work. And you're just, you know, in this day and age, you're just honest and transparent with people. Now the nice thing is you can. With technology these days, you can really establish trust with your buyer or your seller with the use of video and photo and just talking them through the entire process, showing you, you know, taking a video, you putting your certified, putting your. Your priority mail envelope in the mailbox that has tracking on it. You know, you send them an email that has a tracking on it. I mean, there's all sorts of ways to establish trust in this day and age, which I like. But every once while you're just going to have to let. You're going to have to let a purchase or a sale go because of that. That reason, because somebody's not flexible enough to kind of go outside their. What's their norm.

Yeah. And I think if you give it back to them too, if you say, listen, I'm perfectly fine if we don't work together, if this is something prevents us from working together, I totally understand. However, I know you love the property and this is the best price or whatever, you know, and we've done this time and time again, so we have it down tight, you know, so. Yeah, it's pretty interesting. Yeah, you do buy prop. I did. We did buy property from someone in next town over as well. Was. It was a Florida, Colorado somewhere. I don't remember property. And he owned a pizza shop. Owned it forever. So we went and became friends and his wife and had some great pizza. And it was funny, Scott, I don't know if I told you. He was there and he. I was buying his land he'd had forever. And he's like, you know what? Because he'd own this pizza place for like 50, 60 years. He goes, I made this wine when I first started. I wasn't gonna open until I retired. You want somebody reach in the back and pulls a jug of wine and it's got this old worn cork and blows the dust off, pops it off. This is homemade wine. Pours it and says, here you go. And Laura's with me. I take a drink and all of a sudden I can't see out of this eye for a second. I'm like, ding, ding, ding, ding, ding, ding. I'm like, what is this? It was crazy strong. And then what he also did. Scott, I should have taken you to make this guy, he's interesting. He soaks raisins in rum for like five years because he makes ice cream and then he puts this rum raisin over it. So he gave me a shot of that rum raisin syrup. Wow, I should have brought you to meet this guy. All these things I think of now, like, this guy you would have been like. And he's got great deep dish pizza that he learned in this old school Lawrence from. From some pizza makers back in the day, 60 years ago. Great stuff. All because of land.

It's, you know, I'll make it out there again. We'll make it out there again soon for sure.

You're gonna go get the guy's wine. I'm gonna pull that wine out. We're gonna have some pizza and some raisins. Rum raisins.

I may skip the raw kibbe this time.

Meat pudding.

Yeah, I may skip the raw kibby. Keith. Keith.

Anyone call my raw kibbe meat pudding?

Keith Burchet says he had a green cash deal last week. Keith, you're not like every other land investor, though. Like, you live where you're buying and selling. A lot of us don't. But anyway, this is awesome. He said, I seen he had more. So I tried to sell him another one. So he must have seen the Guy had like $200,000 in a safe in his pickup. So can you imagine, Mike, you're your own bank driving your own pickup around carrying $200,000 of cash.

And he's got a side armor, too.

He's probably got a sidearm or two. I'm sure knowing where Keith lives, I'm sure.

Country for old men.

Yeah, exactly. Back to that story that in Colorado.

That scene where they're in the middle.

It was in Texas, I think. Things in Texas. Dale Firebird says I'm a. I'm a new realtor in northwest Arkansas. Got into just thinking I could find some deals on land. But now I really want to stick with land. Hit it hard, and then, oh, something about the market goes crappy. That might be the real estate market. The land market is pretty good right now, but Dale. Yeah, I mean, why Mike? Let's just break it down real quick. Land versus traditional real estate. What are the benefits of land, man?

Well, there's always benefits in any type of real estate. And I can only speak to land because I haven't done much of anything else other than the houses I bought and sold that I've lived in. Right. But the land has got a low barrier to entry. The returns are crazy. It's sort of. What's the word we always use? Complete me here. It's the inefficient. It's an inefficient.

Yeah, it's an inefficient market.

You can basically determine the pricing you want on a property, which is crazy because you hit that monthly payment that someone wants to pay, and you can make whatever you want on the monthly return. So I just think that. And the complexity, the level of complexity is dramatically less. You. That's why we can outsource this, because there's not a lot of complexity. The same routine things happen over and over again. We can build a team. I have a team of four or five people, and they handle all these little aspects of the business that are repetitive and redundant. And so I'm not so sure you can do that with more complex real estate deals. But I can just say that the land really does position itself well for building passive income in a sustainable environment where you're not doing all the work.

Yeah. And I'm sorry, I was a little distracted. Maybe you didn't mention this, but your barrier for entry is so low when it comes to ca. Did you talk about that price?

Not. Not too much, but a little bit.

Yeah. So, you know you don't need 20, 30, 40, $50,000. Right. To get into this business to put a down payment on a duplex or to pay a franchise free fee or that type of thing. So, you know, Dale, I would just encourage you, if you haven't read Mark's book, Dirt Rich, schedule call with me and Mike. We can talk to you about this. We can talk strategy with you about how to kind of scale this thing, even talk strategically. We can talk strategy. Strategy. Trebek. And we're coming up on an hour here, Mike, but I thought we'd do one more throw. I thought we'd do one last segment. It's our favorite segment of the week. It's called the Boston Legacy segment.

Yeah. Great.

So the Boston Legacy segment is where Scott Bossman spells a word correctly.

Yeah.

And Mike Zano, he's the heck of horribly mispronounces the word in his Bostonian accent.

This guy probably won the spelling bee in the day. He's a heck of a speller.

You know what? In my fourth grade spelling bee, I got second.

I knew it. I just knew it.

I didn't win. But Dale, if you want to schedule a call, you can go to thelandgeek.com and there are multiple buttons on there that say schedule call. We'd Love to talk to you guys. I'd love to talk to you or Dale. Maybe you weren't on at the beginning of the call, but go to the landgeek.com, get the passive income launch kit. You will be invited to our Mighty Networks group, which is. Which is separate from Facebook. It's where all the Land geeks hang out. And Mike and I have a working. We have a working lunch every Wednesday.

Every Wednesday, 2:00pm Eastern Standard Time.

The Boston Legacy segment. So, Mike, you ready? Here's the word.

Yep.

M A K E R. Maker. Maker.

Make his mod.

Makea Maker. Yeah, that's. That's not how you. That's not how you pronounce maker.

Throw the card.

Throwing the card. Oh, come on.

With the TV screen blipped, where'd it go? It looked like it was.

Oh, you went in. It went in. You owe somebody hundred dollars.

I'm gonna replay this one. Did it go? It looked like it was about to.

Look like it was about to. Yeah. I don't know.

All right, thank you all for coming. This has been great. It's been a great day of engagement with our community from this morning till this evening. I got to see this. This amazing green shirt multiple times. I stuck with the non college shirt, but next week things might be different.

It's actually navy blue. The lighting's off over here, so it's. It's a nice. It matches my eyes. Yeah, I'll wear it to boot camp.

That's navy blue then. I really have some seeing problems. Color.

No, it's the lighting. It's the bad lighting over here. So, like, if I do this, if I see.

Oh, there it is. I see it.

There it is. There it is. All right, everybody.

All right, everybody. Thanks for coming.

Thanks for. Good night. We'll see you next week for another episode. What night are we. What day are we doing next week, Mike?

Thursday.

Thursday the 15th. All right, I'll see you there for another social hour with your best buddy.

All right, talk soon, man. Take care, everybody.

Talk to you guys later.