Join us Live to learn tips tricks etc to build your passive income with land investing

Eric Peterson, we are live on the Interwebs. How are you?

I'm doing all right. It's Monday. What can you say? But no, all's good.

You and the family had a nice Easter?

We did. We kind of took it easy. Of course the weather was poor here in Tennessee, but nonetheless we made the most of it.

Nice, nice. Well, for those of you joining us, I'm Mark Podolski, the land Geek with thelandgeek.com I'm here with the technician, Eric Peterson. Eric Peterson, who are we?

Who are we? I don't know who we are. We, we buy and sell raw land.

Yeah. Well, how do we do it?

We do it all on the Internet with automation and delegation and a little bit of our own involvement.

Yeah, yeah. So let's kind of break it down. This is what we do. We send out offers using software and we price it 25, 30 cents on the dollar. About 3 to 5% of people accept our quote unquote top dollar offer. Then we go through due diligence or in depth research. Then essentially we buy it from that seller, we quickly sell it and we make about 300 to 1000% on average return on our investments. But the way we sell it is where the magic happens. It's a one time sale. We got to try to get our money out on the down payment. We gotta go six to 12 months out. And then we make a car payment, let's say 249amonth, 9% interest next 84 months. So we create this cash flow with no renters, no rehabs, no renovations, no roads. And the game we play is, can we create enough of these land notes where our passive income exceeds our fixed expenses. But what did Eric just allude to? Automation. So Eric, is this another job? Like who wants another job?

Yeah, it does not have to be another job. Now it can be if that's what you make it and you don't start to bring in help from the outside, whether that's VAs that are overseas or maybe even in the country. People that are working remotely for you, doing different tasks in your business. But it can also be actual automation through various tools that are available online.

Exactly, exactly. Ken Baziek says jobs suck. I think this is Paul Brewer, unknown. He said, looking good, gents. Jason Hoffman says. Hey guys. And as always, if you leave us a comment, say hello. On Friday we are going to do our giveaway of the $1997 investors toolkit. If you already have the toolkit, you can gift it to somebody who doesn't or you can use that towards a credit for any land, geek coaching or software service. So go ahead and leave us a comment. Okay, Eric, we're going to talk about automation. Why automate? What's the benefit of it?

So the benefit of automation, let's see. First, it's very hard when you're automating to miss doing something right. So if you've got a series of, let's say three steps in a process that have to be done, if you can automate all three, three of those steps, the only way that breaks is if your automation breaks. Otherwise it's going to be done on whatever schedule or whatever trigger is going to cause that to happen. So it doesn't involve any of your time. Once that automation is created and set up and running, so things just happen in the background, you can be focusing on your business, looking at your business from a higher level while maybe your letters are going out, for example.

Okay, great. So it really helps us in our process or system kind of be mistake free. If it's something we're constantly doing again and again and again, we won't forget it. And it just becomes a routine that is completely sort of bulletproof or foolproof in a way. As long as that automation doesn't break. Correct.

Right.

So give me an example of some of your favorite automations.

Well, I think a very simple one, straightforward one would be just the idea of sending out offers in an automated way. With the use of LGPass, we can now drip out your offers. In other words, you can upload a large list of, let's say 1000 names and you can send to that list at 20 letters a day if you so choose to. Or maybe you want to send 50 letters a day, or maybe you want to send all 1000 at once. But that process, once that list gets uploaded to LGPass, the whole process of sending those letters, printing them, putting postage on them and getting them out to the postal service, all that process is automated. Once that list gets to LGPass.

Yeah. You never had to do it old school like me, did you? You never had to like write envelopes and lick envelopes and put stamps on and do all that, did you?

I actually did.

You did okay.

When I got started, we did that for a while. My wife helped me. We would actually hand write the addresses and everything, you know, I mean we did that for a short time and then it got old and we realized we weren't really getting that many more accepted offers in that manner. So, so we moved on. We went to the traditional windowed envelope with the letter inside?

Yeah, absolutely. And the API we have with LOB is amazing because they do address verification, so we don't get those yellow letters like we used to. Okay, so we got a question already, Eric. For some reason on my software, it just says unknown. Like, I don't know who's asking this question. So I should probably look at my phone and just see who's asking this question. Do you guys care? Let me see. Let me go to Facebook. And then I'm gonna go to. Hey, we're live. So I'm seeing that we're live. I don't know, but can you guys hear it now?

All right, we'll answer the question. Anyways.

Here's a question. Please talk about steps to automate managing leads.

Okay, so let's talk about it from a standpoint of maybe adding leads to a CRM, because I think that's a common hurdle that people need to overcome when they're getting started in this business. They choose some CRM, whether it's, I think, HubSpot, some people use Pipedrive, Follow Up Boss, etc. There's many choices out there. But once you choose that CRM, how are you going to get your leads in there without having to manually enter that information each time you get a new lead? So we have to start thinking about what can we use to trigger an automation. So we start to think about, okay, let's talk about a Craigslist lead, for example. So what's similar in those Craigslist leads and how they show up in your inbox? Maybe they're all coming to one email address and they're showing up in your inbox that way. Maybe every one of them has a certain subject line or they're all coming from a Craigslist relay address. That's consistent every time, whatever that common denominator is. Once we know that, then we can start to kind of brainstorm around, well, what's the best method to then trigger the next action? So in the case of this example, a Craigslist relay lead, where we have that super long Craigslist address that's unrecognizable, it's not someone's real email address, but it actually is an address that routes through Craigslist and is sent to the person on the other end. So when we have one of those leads, one of the common denominators is kind of the back half of that email address. It ends with something like hou s.craigslist.org or something to that effect, I don't remember it off the top of my head, but we can start to look at that and we can use Gmail filters to apply a label to those emails. So first we have to find that common denominator. Then we can build a filter in Gmail that looks for that common denominator and applies a label. Let's call it New Craigslist Lead. Okay. Now that we're doing that and that's functioning correctly, what we can do is we can go over to zapier.com and open up a new account. If we don't have one, if we've already got one. Great, open that up. And within Zapier now we're gonna, we're gonna create this automation. So we're gonna link kind of two pieces of web apps together, essentially. So we have Gmail and we have your CRM. Let's say it's Follow Up Boss in this case. So with Zapier, we're going to go and make a new Zap. We're going to look for something to connect with Gmail. We'll go through the steps to connect with our Gmail account. And the trigger is a newly applied label. In this case, that label is new Craigslist lead. Okay. And so we create this step process in Zapier to watch for that label. Once Zapier finds that label, it's going to go to the next step. And the next step is to create a new contact in Follow Up Boss in this case and pull some information through that that's already contained in that email from Craigslist. So we're going to grab the sender address, which in this case is a messy relay address. But we're still going to grab it. We're going to grab any name that's associated with that email address and we're going to send it all through to Follow Up Boss and create our new lead. And then from there in Follow Up Boss, for example, we could apply maybe an action plan or something like that to start corresponding with that lead. If it were some other CRM, we could just create that lead and begin the process from there.

Okay, well, we got a lot of questions. Eric, I think you did a great job of explaining that if you don't know what Zapier is, it's Z A P I-E-R dot com, leave us a comment and we'll just talk a little bit about what Zapier actually is and does and why it's so important. But if we don't get any comments we're just going to move on. Here's a quick question, Eric. Johnny Morrow, have you found it better to do all at once mail versus 20 to 30 a day? And do you get slammed if you do it all at the same time? So is it easier to manage 20 to 30 a day?

Yeah, we love to send out our mail daily. So we use a drip method, just like I talked about with LG Pass. We'll send, you know, 20, 30 letters a day and that way we get a little bit more consistent deal flow. There's no question. I mean, you can go out and send out a thousandousand offers or 100 offers, you could do it. But your lead flow or your deal flow is going to be a little bit more kind of sporadic. It's going to come and go based on the gaps that are between the mailing. So we like to just strip it out over time and keeps our acquisition manager a little bit more consistently busy, doesn't overwhelm them. So we like that strategy.

Great. So Johnny, I hope that's helpful. Dawn Parisa, Aloha in Hawaii. She says helpful tips. Thank you, Eric. Nathan Volz wants to know what is Zapier?

So Zapier.com is a web based platform to take two kind of elements. Well, I mean, it could be any number of elements, but typically they're some kind of web based application, whether it's Gmail or your CRM or maybe a mailing service or. I mean there's, there's so many different options, but you're taking these two things and you're finding a way to, to integrate them together, to send information from one place to another in an automated fashion so you don't have to do it manually. I mean, another example might be, you know, maybe you have a, I don't know, a Google Sheet or something. And every time you add a new row in that Google Sheet, you want to, I don't know, email that information to your acquisition manager. You could totally do that with Zapier. So you could watch for a new row to show up in that Google sheet and then you could trigger an email to be sent right through Zapier. So it's just a way to, to move information between different platforms.

Exactly, exactly.

Simplest form.

Yeah. I mean, Eric, I'll be, I'll. Can I just brag what one of my favorite zaps is? Yeah, so one of my favorite zaps is like an acquisition manager. Not an acquisition manager, but like a, like a sort of a. I cobbled together when I first started because I have an intake manager. So. And I wasn't really ready to hire an intake manager yet. So what I did was I would use Ringcentral. And so if you called my 800 number with RingCentral and you hit number two to sell land, the zap was if you hit number two to sell land, then that voicemail would immediately go to Fancy Hands. So the zap was Ringcentral to Fancy Hands. And within Fancy Hands, I had an intake manager script which then had explicit instructions how to qualify that seller. Because sometimes they just want to call to yell at me. And so that was one of my favorite zaps. Another one is I use filethis.com filethis allows me to integrate my bank and you know, with. With Dropbox essentially, so I can file this will then grab bank statements from my credit card accounts, my bank account, they'll all be downloaded into Dropbox. And then I have a zap from Dropbox to my CPA or my bookkeeper. Here are the monthly accounts so I don't have to, you know, keep going in manually and, you know, downloading my bank statements and then sending them off to my cpa. Do you have a favorite one, Eric?

I don't know if I have a favorite one. I mean, I have lots of stuff like, like you just described. I typically don't use Fancy Hand, so I'm not doing anything there.

But I don't use them either anymore. But when I first started, I did absolutely. I don't even think I'd recommend them now, honestly.

Yeah, I think we do a lot of zaps with integrations with Slack. So we communicate on Slack a lot with the team, whether that's with acquisition manager or due diligence people or bookkeepers, etc. So we'll do a lot of things where we'll trigger a zap to put information in Slack, for example. So in your example, you talked about sending an email with those bank account statements. Something similar that we do is instead of sending an email, we just put them in Slack on our bookkeeper's channel and they can look at them there and get to them when they need to.

Eric wants to know what is Slack?

What is Slack? So Slack is essentially an instant messaging platform that's used by businesses and teams. So the way we utilize it, we set up what's called the channel for different aspects of the business. You can imagine, let's say bookkeeping or due diligence or marketing or acquisitions, what have you. You can set up these channels and then you can add your VAs or whomever to those channels and they can see the information that's there and you can quickly communicate with them. And it's all in one spot. So you're not, you're not in upwork, like searching through, you know, where's that va that that I have doing my whatever and trying to find them. Instead you just go to Slack and you're just like, okay, I need my due diligence person. I'm going to message them there.

That's amazing. It's amazing. Although I will say if you're easily distracted, you could spend your whole life in Slack.

I suppose you could.

You could even Slack is like people take a break from Slack. So Joel wants to know how often do you send mail to the same lists of prospects? It's not an automation question, but I think it's a good question because I get this a lot.

Yeah, I think, you know, the standard timeframe we talk about is about 100 days. Now there might be reasons to break that. Okay, say for example, you're working in an area, maybe it's a subdivision that you know, doesn't have tons and tons of properties. Let's say there's 500 and you've mailed them all this month and maybe you brought in a decent response rate, you bought some property, but you need more and you've got a buyers list working in that area. We'll go ahead and remail. Doesn't matter if it's only been 30 days. I mean, there's nothing stopping you from mailing again. But the standard time is about 100 days.

Yeah, I agree. I mean, Joe, I'm in a profitable county. I'll mail every 90 to 100 days and just keep fishing there. It's like, oh, there's a good fishing hole. Let's keep going every 90, 100 days. So I don't know why it says unknown, but for some reason says unknown, but it says, I just signed up for follow up boss today. I've heard you guys mention it before. What are all the benefits of the service? I'm firing first before aiming. I love that book, by the way. What is it? It's ready, fire, aim, right? Yeah.

So the benefits of follow up boss versus some of the other CRMs. You know, I've tried a couple different CRMs. Started with Pipedrive, went on to test some other things and then ultimately came around a follow up boss based on Mimi's recommendation. And what I like about it are a few things. Number one, the integration of being able to call in Text from within the app has been really beneficial to us. I've worked with a sales assistant, so I have an account for my sales assistant in Follow Up Boss. I can easily assign them a phone number that they can text and call from. So that's great. And as a matter of fact, I can even record the calls that they're making. If we decide to do that. There's that functionality. So that's in and of itself, that's a pretty great feature. And then the hotlist availability that they have within Follow Up Boss to create essentially filters of your leads based on different criteria can be extremely powerful in the way that we see who's interacting with our content and who has potentially an interest in buying from us. So we can look at things like, you know, who's opening these emails, how frequently are they opening them? Are they opening just, you know, the first email I sent and then nothing after that, or are they opening every one I send? Are they going to my website? Are they looking at properties I have for sale on my website? If so, which ones are they looking at? So we can see all that in Follow Up Boss with the appropriate integrations. Another powerful feature is the ability to take a group of your leads. Let's say you're tagging your leads based on what they're interested in, whether it's a state or a subdivision or maybe a feature of the property. If you're properly tagging your leads, you could quickly filter by a tag. Let's say you want everybody that wants property with trees so you can filter for them. And then you could send out a bulk email saying, hey, I'm taking in a new property with trees in this area next week. It'll be available on Tuesday or whenever. Contact me if you're interested. Let me tell you more about it. So, I mean, I could probably keep going. I'm pretty, pretty thrilled with Follow Up Boss and how it's working for us. But that's just a taste of some of what it does that the other CRMs that I've looked at don't really do to the same level.

Yeah, we switched over from pipedrive to Follow Up Boss. Our team's super happy. All because we're trying to keep up with Mimi and Eric, the two geekiest of the geeks in land. Geek. It's kind of annoying, but we just have to do it. Sorry, Eric.

Hey, what can you say?

Yeah, so Buzz Conroy is the unknown guy and I think it's Buzz.

Now he's known.

Now he's known. So Buzz has another question. He says, can you please talk a little bit about how you schedule and organize your marketing ads? For instance, do you write broad ads that could be applied to several properties or specific ads for each property? If broad, how do you keep which ad is currently posted for which property, etc. Thanks.

Okay, interesting question. We do some of both, but let's talk about a more broad or what we sometimes refer to as a blind ad or generic ad. I think that if you're using that kind of ad, like at least the way we use them, it's somewhat specific, but it's not property specific. So for example, we're not going to write an ad generally that says we have 1 to 10 acres available in such and such a county. Okay. It's going to be a little bit more specific because typically, you know, if we're buying five acre parcels in an area subdivision, what have you, like they might be all very similar, but we might have four of them or 10 of them or whatever. But so we don't need to advertise for all 10 of those. For example, we can have one ad that represents that type of property. We don't have to say what street it's on or things like that, but instead we could talk about the general features of those 5 acre plus or minus properties that are available in our inventory and then we can just work through them one at a time. So whatever one is kind of up next in the queue, that's the one we sell next and so on. We do use specific ads as well. So when we have a property that maybe doesn't match everything else we have for sale, maybe there's a unique feature, maybe it has power poles out front, maybe it has trees, maybe it has whatever. Whatever that unique feature might be is going to cause us to have specific ads more for that certain property. Do you think that answers the question?

I, I think so. That was Andrew Miller's question, by the way. Everyone who's unknown unknown that's popping up for me now is Buzz Conroy. So I'm just gonna call them Buzz. Even though that was Andrea, Joe had an interesting follow up question. He said, what is a good size list? What do you think? I, I have my opinion.

A good sized buyer's list.

Just no, no good sized list of mail to like you go and you're like, we've got 100 names that own. That's vacant land.

Yeah. So if I'm going to test an area, I want about 250 to 500 names on my list. Okay. Not to say that that's all that's available, but that's what we'll use to test and determine our pricing, if we like the area, etc.

Okay, but then what if there's only 250 owners in that county? Would you still consider that a good county.

In the county? I mean, that sounds like a stretch, but yeah. I mean, it certainly wouldn't be my only county. It would have to have some really desirable features in order for me to be wanting to go after only 250 names in a county.

No, I agree. I mean, really, it's got to be a great, like a really profitable, great county with great land. I'll do a hundred in that. Because if I can get three to five responses, close on 1%, that's one deal every 90 days, let's say in that county. That might be worth it, but. Yeah. By no stretch of the imagination is that my only, only county. I would say for me, a minimum of a thousand names is probably where I'm going to consider working. A county. Yeah.

And I would add the areas that we would recommend that you work within. Where, number one, there's other land investors and there's lots of rural vacant land. You're going to have thousands and thousands of names to mail, not just hundreds.

Yeah, yeah. These are. I mean, there's. This is a massive market, Joel. I don't. I don't think we realize how big this market is. I mean, there's one county in Texas, 28,000 pieces of raw land. Like, how many people in our community could buy up that property? We'll all run out of money before we run out of deal flow. But I think it's an interesting question. It's a good question. Racine, Aloha in Hawaii. Oh, by the way, I want to be respectful of Eric's time. I think he has a pretentious hard stop now. Eric, do you have time for one more question? You gotta jump. You gotta jump.

Yeah, we can answer one or two more and wrap it up.

All right. So Racine says, I have a buyer asking about easements. I really have no idea how all this works, so any information would be helpful. Then how do you get to the property without easements? And is it considered driving through government property? Do you just drive through someone else's property? Welcome to landlocked raw land racing. So what is an easement? Well, there's all different types of easement, but I think this is a ingress egress easement.

Right.

As opposed to like a Utility easement. There's all types of easements racing and.

Lots of times they're, they're combined into one. Right. Like you might see potentially in your legal description, it might say there's a 20 foot easement around the north, east, south and west edges of the property for roadways, utilities, etc. And that's, that's one common way you might know there's an easement, but that's just around, you know, your given property.

So. So.

If there's no roads in the area today, when you're looking at this property, I mean, it's very likely that there might not be proper easements or legal access to that property. Doesn't mean you can't physically access it. You might be able to just drive over the desert terrain and get there, but in doing so, you may be driving over someone else's property. So the way that you would know if you have legal access to a property, you'd have to begin doing research on. You could start with the surrounding parcels. If you have one of those where it's like 20 foot easement around all edges of this property, you could start looking at the others to see if they have the same thing and then start to search. If you look at the plat maps, you can start. A lot of times they'll have different dashed lines around the perimeters of the property to represent easements and possible roadways. That would be a good indicator that there likely is access that's planned. But ultimately it's something that's a little tough to search out on your own. And you may have to involve a title company depending on your situation. Now, you may decide to buy that property and no, it doesn't maybe have legal access and you're gonna buy it for less and sell it for less. But if you really want to know, you may have to work with the title company to help you through some of that.

Yeah, I mean, Racine, this is very common. For example, Nevada is 80% landlocked, I believe. So there's an area called the checkerboard. Every other section is what we call BLM land or government land. Bureau of Land Management. So you've got a section of government and then the next one diagonal might be private property. Well, you might have to go over government land to access the private property, which therefore makes it landlocked, unless you apply for an easement with blm. But there's no government official standing there saying you can't access that property in rural Nevada. So it becomes an issue. It if your Buyer says to you, Racine, we are going to build our dream home on this property, and we're going to go to a bank and we're going to get a construction loan. So let's say for this example, Racine, your buyer tells you this, and they say, I'm going to pay cash for the land because I have to own it, I have to get the deed, and then I'm going to go to the county and apply for a building permit. And then from there, I'm going to go to my bank and get a construction loan. Well, at that point, you have to say, look, stop right here, okay? This property is landlocked. There's no bank in the country that will loan on this land until you have an easement. So if they're not borrowing money from a bank, then, yeah, they can go out there, they can drive out there, they can use it, they can enjoy it, they can camp on it. But as soon as they get the government or the bank involved, if they want to borrow off of it, let's say they want to, you know, just say, hey, hey, here's my asset. Can I loan. Can I get a loan off of this 40 acre parcel? The bank's not going to like it during the title search. So, Eric, have you run across that? I mean, it doesn't happen that much, but it could happen.

Oh, for sure. We've bought and sold property without legal access many a times.

Yeah, it's not an issue unless that is what they want to use it for. And then you need to say, look, you can't do it. Are the landlocked rules similar in Arizona? Yeah, I mean, it's, you know, Arizona, I think, is like 67% landlocked. It's going to be the same thing in every state where a bank wants legal access before they'll loan money off of it. Now, to get an easement is not difficult. You can contact the neighbor, you can contact the government. It just takes some time to apply for the easement and then you get your legal access. So hopefully that helps.

Typically, we're advertising those types of properties as investment or recreational property. I think that helps you kind of narrow down the appropriate type of buyer for that property because you don't want to lead someone down the wrong path, you know, that wants to build a house or go live on the property. That's not gonna work.

Yeah, no, absolutely. Buzz Conroy, Unknown Would you still offer to buy a property where there's no development yet, but the neighboring subdivision has activity, perhaps buy and hold or not bother. Oh, yeah.

I mean, we buy that type of property all the time. And as a matter of fact, I mean, that's the type of property we're really searching for. Most of our buyers don't necessarily want to have neighbors. They like the idea of being out in the middle of nowhere and being left alone. So not to say we won't buy in a subdivision where there's open lots. Maybe it's 50% occupied or something. I mean, sure, we'll still look there, but more often than not, the type of property we're buying is very rural and very uninhabited.

Exactly. Don Paraiso says I needed to hear this. Valuable. Awesome, Don. So should we do one more question, Eric, or you gotta jump?

Let's do it.

All right. I just saw.

Make it a good one.

No, that was the last question. Oh, yeah. I don't see any other questions here. Oh, just at the nick of time, here it is. Have you invested during a recession? How do you think the coronavirus will affect buyers? So many job losses occurring. Also, do you think landowners will be more motivated during this period?

Mark, I feel like I have to let you start on that one, since, you know, you have the history of being a land investor back in the previous economic downturn. So you can start it off and then we can talk about our thoughts on what's going to happen going forward.

Yeah, so I started really full time land investing in 2001, and 2008 was not a bad year for me. 2009, not so bad. 2010, I got crushed. So we basically on the long tail of real estate. So when residential and commercial are getting hit, it just kind of goes down the line. So it took about two years for my company, Frontier Properties, to really get hit personally during the Great Recession. And man, did I get hit hard. 40% of my note income just went away. And Shameless plug for Facebook Live. I talk all about it in the book Dirt Rich. So get your kindle version for $1.99 today, go to landgeek.com dirtrich and get your bonuses. So how'd you like that, Eric? By the way, whenever I shamelessly pluck anything, Eric gets a little uncomfortable, do you not?

I don't know about uncomfortable, but when I'm asked to do it, then I'm uncomfortable.

Yeah, so like when. When you ran the roundtable, but you did it. I did it. You did it. Okay. So so basically 40% of my notes just went away. And because I wasn't managing my cash flow very well, I personally got hit Very, very hard. Now, the company was still profitable because remember, I'm buying these assets 25,3 cents on the dollar and a lot of times they'd already been paid off and I was just getting all profit on the notes, but I personally had to dial it back. And again, it's all in dirt rich to talk about that. So now as residential and commercial began recovering, land did not recover a little bit later as well. So today what I've done is I use a profit first system. Have you ever read the Burke, the book by Mike Michalowitz, Profit first. I highly recommend it for handling your cash flow. It's great for this business. So that being said now, because using profit first discipline, I'm very well positioned for any inevitable recession. So now what's happening with us though is that we had 14 properties sold last week. Our business is like we have a new problem. Like we can't buy fast enough. Because what coronavirus has in this whole thing, the bailout, like people want to buy real assets. So all the big financial people are saying, hey, when paper assets go down the way they are and there's volatility in the stock market, go to real assets, which is raw land, gold, silver, and in real estate. So we're actually getting a very nice coronavirus bump right now. Now, do I think that in time this could affect us? Well, I don't know because again, it's like a natural disaster. It's not necessarily, you know, those 17 million jobs that have been gone, we do assume those 17 million will get their jobs back once the economy opens up. It's just sort of a matter of time. And then of course there'll be a delay with consumer spending, I assume and all that. So that's sort of my two cents. Is that as far as on the buy side right now, Yeah, I do think it's going to be easier to buy as well. But right now, currently, which is all I can tell you because I can't. I'm not, I don't have a crystal ball. I'm only speculating, right, we're not being affected. If anything, we're getting a bump. Eric, how about you?

Yeah, I mean, I think certainly we're still out there getting sales. It's not like everything has dried up because of this virus. But I think that the future ahead, we could definitely see some of those notes dropping off like Mark experienced. But I don't know when that is. I mean, right now I think I've probably had four of my customers reach out to me and ask for some kind of relief in their note payment. So that's not a very big percentage of my note portfolio. And certainly it's too soon to see any defaults because of this. So, you know, I think it could definitely happen. We could see some defaults, but I also think that we could go back out there and resell those properties. Even if we have to sell them at a discount, I think we can sell them. So, you know, it's a little soon to say, but at this point, I'm not overly concerned.

Yeah. Yeah. So Dr. Lance Ellis. What's up? He said, thanks again for your. For the quarantine time comment. Yeah. Thank you guys for being on. Leaving comments, asking questions, engaging with us. We hope everyone's getting value from these Facebook lives. I know that, you know, my normal schedule has been kind of upended through all this coronavirus, so I'm really happy to jump on live with Eric and other team members and talk land investing just for my own sanity. Because as soon as I leave the office and I go inside, the kids want help with homework. They're doing math. That's beyond me. There's nothing more. Sort of like I'm no longer a hero when the math. I can't do it anymore. And I'm like, oh, the teenager does disappointment. They look at you like you were once my hero dad. What do you mean? Can't help. I'm like, I can't. You know, I hear you. And then, you know, then there's that point in the day. It's like, should I be working or drinking? Because, like, my sanity. And then it's, you know, it's fun to, you know, ask my wife. Are we going with wine tonight? Scotch. What are we doing? That's always a fun game. Are you playing that game, Eric?

I guess. A little bit. We are, yeah.

Kind of fun. It's like, okay. Like, we go through the whole. The menus like, okay, we have meat tonight. Let's go red wine. Yeah. Oh, eating pasta. Let's go white wine. You know, are the kids stressing you out hard alcohol. Let's do it. So it's always fun. Definitely. But thanks, everybody for jumping on. I hope everyone is staying safe, staying sane. It's really nice that we can all connect together as a community. Go on the motivation group. Let us know how you're doing. And Eric, you ready to do this?

Let's do it.

Okay. Ken wants to has one more question. He's like, wait, that drinking thing is actually a question? Yeah. Ken's like, he's like, worried about us. He's like. So, guys, do you need to go to a meeting? No, Ken, we're doing fine. It's not like we're getting drunk. It just takes a little edge off. Don says, always grateful for your time. Tips learn so much. Dr. Ellis, American Heart association says you should have two glasses of red wine a night. Well, that makes me feel better. I wish they would say that about scotch. Ken's like, at 6pm My kids are still in pajamas. That's hilarious. Yeah, see, my teenagers are, like, going to bed so late, and then I gotta get them up and it like. I'm like, it's really frustrating. But whatever. Ken's like, it's five o' clock somewhere. Okay, Eric, ready one. Everyone do this together, even though we can't hear you. One, two, three. Let freedom ring.

And wash your hands.

Wash your hands. Wear a mask. Stay safe out there. Thanks, everybody.