Negotiating Tactics on the Buy Side

We're live, we're live! No intro, no intro tonight. We're having technical difficulties.

Is it because we're here?

Because John's sick again. Yeah, another HIPAA violation.

Uh, can everyone see us? Oh, there we go. Okay, now we're starting to get some viewers, uh, here. Um, Good. All right, well, sorry we don't have our rousing intro tonight, but, uh, but we are, uh, we are representing Land Geek Nation, uh, the Land Geek hive mind here. I'm Scott Bossman, Dude Buddy, the Nightcap OG, joined by, as always, Mike Zaino. Breathe in the mailing. I can't breathe well. Breathe out the marketing. How's it going tonight, buddy?

Going great, happy to be here.

Good to see you. And as always, the godfather himself, Mark J. Podolsky. What's so quiet tonight?

Good to see you guys. You know, I'm out of my drink. You know what I'm gonna do? I'm gonna go get my poppy. Be right back.

Yeah, no worries yourselves. We'll talk to most ourselves. We'll wonder where all our viewers are. I think we're having some technical, uh, I don't know if we're on Facebook either. I gotta check and see if we're on Facebook, but we're on YouTube. We only have 9 viewers. That's, that's, that's unusual. We usually have 90-ish, 900-ish, something like that. Um, 9 million-ish. Uh, but tonight, tonight we, we actually do have a, have a topic, uh, which is very exciting. We're repurposing, uh, a show that Mike and I did a number of years ago and thought it'd be fun to bring this back to the masses because I think it's been buried. It's been buried on YouTube and we got to bring it back. Yeah, so this is a classic, uh, this was a classic from a few years ago. Tonight we're talking, uh, negotiation on the buy side, right? Uh, no pressure, no tricks with these sellers, real conversations that actually close deals. We're gonna put a fun spin on it. We have some terms that we like to use for these particular type of deals that come across our desk on the buy side. We built a framework, if you will. So Mike and I, we still speak in this language when we're doing our land business. It's in Mike's native language, actually. So all of these words that we're about to go over, they have the Bostonian flair. To them. Uh, it's going to help all of you know exactly what type of land deal we're talking about, exactly what to say with your sellers on the buy side negotiations. Does that sound fun?

Sounds like a blast.

Sounds like a blast. Mark's like, what are you guys talking about?

I'm just trying to pick my spot where I can be like, don't be a chowderhead. I just want to apologize to all the Bostonians tonight, by the way, as I—

oh man. All right, awesome.

We're all gonna—

we're talking—

go ahead, Mike.

The negotiator, that's what we're talking about.

The negotiator. Negotiator and different types of deals that come across our desk as well on the buy side. All right, so Mike, let's talk about the, the, the easiest one here. The— we call it the humdinger. What is the humdinger for, uh, everybody who's watching?

Wow, okay, well, it's been a while since I went over these with you, so I think the humdinger— this is like almost like a quiz— I think the humdinger, okay, is when you get someone that, you know, they responded to you, it's one owner, they've owned it forever. Like, this is like— this deal is like the low-lying fruit that Mark always talked about, you know. One owner or the couple still alive. They've had it for 10, 15, 20 years. It's just everything just looks like boom, and they sign it, uh, you know, they sign the agreement at the price that you sent to them. Am I right? I'm gonna go with the humdinger.

You're exactly right. It's just a deal that, uh, on paper it comes across, the price is good, uh, everything lines up. It's a quick and easy Quick and easy dirty deal, and we get it done quick. We call it the humdinger. Mark, you like—

I gotta get you guys like a bell, and when you get a humdinger, you're like, humdinger, bing bing bing bing.

I love that, the humdinger bell.

The humdinger bell.

But really, go ahead.

I was gonna say, we're gonna have to do the next one because Mark's not familiar with that, which would be fun to say the name and see if Mark can figure out what type of deal it is. That'll be fun.

Yeah, we could definitely do that for For sure. Uh, but, uh, but, but again, for, for the audience, uh, due diligence is clean, there's no surprises, everything checks out, we're moving forward as agreed, the price is great, there's no back taxes, it's a humdinger. Those are great deals, aren't they?

By the way, should we just tell people what we do in case they're new to the show?

Yeah, what's this humdinger all about? What are these guys actually doing tonight?

What's that?

I'm a little, I'm a little flustered tonight because of our tech problems. I apologize.

It's only inside baseball tonight, but in case you don't know, uh, we are the Langi Guys. We buy and sell raw undeveloped land, we flip it, and then we owner finance it. And so we create a land note, create passive income without renters rehab renovations, or rodents. And if you're new, you can learn more at thelandgeek.com and start getting educated. And if you really want to go deep, you can schedule a call with one of these Chowda heads.

And somebody we know actually wrote a book about this whole thing.

That's right. There's a, there's a couple books out there.

Yeah, some guy named Mark J. Podolsky wrote a couple books, right? Well, yeah, those books, what are they called?

Dirt Rich and Dirt Rich 2, available on Amazon.

Available on Amazon.

Yeah, Dirt Rich 3 in process, in progress.

Dirt— yeah, Dirt Rich Forever is in process. It's forever.

Oh man, it's like Batman Forever.

There you go. Exactly.

I love it.

Awesome. Well, it's good to see everybody here as well. We have some people joining us as always. Matthew Woods is here. He was on the webinar right before the show. Good to see you. Mike Caviey. Hi. Jonesy. Rick Colcock is here. The Martians are here from Utah. Is that actually Martians? Is that your last name? That's kind of cool. Awesome, guys. So back to the topic at hand, we're having a little fun tonight talking about the different deals that come across our desk on the buy side.

All right, we got the humdinger.

We got the humdinger. All right.

Name and see if you can figure out what kind of deal it is.

Okay, so Mark, here's the name of the deal. I want you to tell me what type of deal you think it is and also the negotiation tactic you would take with the seller. You ready?

Here we go.

It's called the deflator.

Oh, the deflator. Well, the deflator is when you get the offer back, and they've countered. And you're like, you know, you made it, you offered like, say, $3,500. And they come back at $35,000. So what I would do is I would, obviously, I would be a little deflated. And I would contact them and say, hey, look, uh, I got your counter and I'm a little surprised you didn't say $350 million because the probability of getting $35,000 and $35 million is the exact same because your neighbors are selling this for $3,500. So I'd love to see if you're interested in, in doing a real transaction But if not, no harm, no foul. Oh, you know, you keep paying those tax bills, and I'll keep coming back to you. I'll see you next quarter. Now they're deflated. Boom, you see what I did there? Like a little Mike jiu-jitsu move.

I love it.

I think he's right. That's the deflator, right?

So we use the— we use it a little bit different way. But I like Mark's— I like Mark's interpretation of the word deflator. Uh, because you do feel deflated. You, you open it, you open— you get an offer letter back, you know, excited to open it, and it's not a humdinger accepted offer. It's exactly what he said. Mark, are you calling those people? Really? Are you still calling those people?

I mean, Mark's not. It's the team. Yes, I would, I would. I coached them to do that.

That's awesome.

You know, once in a while, you know, it is as Mike would say, is it can be relationship enhancing, and you can have a lot of fun with it as well.

Yeah, yeah, no, it— because you never know, they might have other properties, or they may, you know, this, this whole networking thing is real, right? If, you know, you call them up, you're respectful, say I understand, you know, and go through all that, who knows what could come of that, right? But certainly nothing will come of not talking to them. Right? We know that.

Yeah. So, so our, you know, our intake manager, that's their job.

Yeah. Talk to the people.

Yeah. So, you know, but I'm sure they don't like the deflator.

No.

All right, the deflator deal. So we, so we actually have another interpretation of the deflator deal as well. Do you know what that is, Mike?

Um, I don't remember.

Okay, so the deflator is basically we're going to deflate the buyer's expectation or the seller's expectations here. All right.

Okay.

So maybe they come in with a counter, or maybe they, maybe they even accept an offer, but we do our due diligence and we— but then reality hits, right? Maybe it all looks good on paper, but then reality hits. And maybe there's access issues, or maybe there's a floodplain, or maybe there's terrain issues. Maybe there's— maybe we did our research wrong and the market value is actually less than what we originally expected. Um, we still want the property, but we need to pay less. So we need to deflate their expectations.

I have a great way that I used to do that before when I was doing my intake too, is like if I was talking to someone be like, hey Scott, how you doing? Great. I know I offered you $1,500 for this property, and I don't know how you attach to it, but I've done some, you know, I've done some other research here, and you know, I don't know how you attach it. You know, I, I'm, I'm not sure I could give you that full $1,500. And then I pause because they say one of two things. They're gonna be like, freak out. Oh, you said— oh no, maybe I can, that's okay. Or they might say, I don't care, I just want to get rid of it. And that's what we want to hear. They go, great, because I can really give you $1,100 for it, or I can give you $1,000. You sort of— I always say, you say it like that, you know, I really like, you know, I know I offered that, and I really want to pay you that, but I found out some things, some comps. I think I might have overstepped, and I don't want to assume anything. I'm not sure how attached you are to your property. And then you just start drinking your wine, you hold your breath, you drink your water, you wait, because they're either gonna freak out, which is okay. No, no, I'm gonna try to get you there. I'm just telling you how it is. Or they might say, which is really great, they might say, Mike, Scott, Mark, I don't care, I just want to get rid of this thing, I'm done with it. Oh great, because I can give you $800. Okay, great. Let's do— I mean, you, you can really gain a lot of profit with that one tactic.

I, I love that, but that's not a call to the deflator. That's the re— that's the re-trader. You're retrading.

I like it. Retrader.

Very true. Yeah, retrader. So, all right, okay, so now we, we gotta, we gotta adjust our list here a little bit. I like Mark's deflator.

Technically, I think it's an AH. I'm just saying, deflator, not a flater. Oh, okay, clear on the spelling.

It's definitely a UH. I think it's definitely a UH.

Um, the retrader. I like that, Mark.

Yeah, the retrader. We, we still want the property, but based on, uh, what we uncovered here, right? Yeah, the value is different.

Yeah, but I like your approach. Really? Yeah, I like the way Mike does that though. I love the question, you know, I don't know how attached you are. Yeah, that's, that's gold.

I'm taking notes. Look at me taking notes.

Who takes notes? We have note-takers.

Remarkable. I still use my Remarkable every day. I'm a big fan of it. Do you like the Remarkable?

I, I, I like the Remarkable. I don't like my handwriting.

I still have Post-it notes everywhere, so big Post-it note guy. That's how attached you are. And then I love the pause too. The pause. Well, I'm just not really sure if I can— I don't really think I can give you $1,500 for the property. Pause. Oh man, that's awesome. I like that.

Uncover it.

You don't say based on our due diligence, I don't think I can give you $1,500 for the property. Pause. You just say, I don't know how attached you are.

Yeah, I'm not sure how attached you are to the property. I don't want to be offensive. I just pause, and then they reveal their cards at that time. It's like you're playing poker with someone. They go like this: flip! I got an ace, a jack, and a queen. Like, you see their cards in that very moment if you wait. If you wait.

Yeah, I had a flight school student, and she just was like honest with the seller. She's like, look, I know I offered you this, but all I have is this, right? And this guy's like, okay, I'll take it.

Oh, that's amazing.

I remember you told me that story. That's right. Just be truthful.

Yeah. That's awesome. All right, cool. So we got the, we got, we got the humdinger, we got the deflator, and we got the retrader.

I like it.

I love it. Okay, let's move on to the next one.

What is it?

Okay, so this is my favorite. This is my favorite deal that we have on the buy side. You ready, Mike? Do you know what it is?

Are you gonna say the $1 Skittle?

The $1 Skittle! I love the $1 Skittle. So Mike, uh, please explain to the audience what the $1 Skittle is.

I hope I remember this one correctly. I think the $1 Skittle is when I own I mailed you, you mailed me about— I mailed you about a property, we're talking, you say, by the way, I have another one over here. Am I on the right track?

No, not that one, because that's—

no, is it when— is it like I offer $2,000 but they owe $2,000 in back taxes?

Correct.

Oh, Mark, you just nailed it out of the gate.

That is correct.

Yes, yes, because I am a big fan of Nightcap for years. I pay attention.

It's when the back taxes are equal to the value of the property.

Right, Mark J. Podolsky.

Or nearly equal to, right?

Yeah.

But we can still make that seem like we're doing the seller a favor, right? Because—

Take it off their hands.

Take it off their hands. They don't have to worry about it anymore.

You don't have to pay the taxes right away. Runway to sell it, and then our ROI is ridiculous.

Yeah, you don't have to worry, Mr., Mr. Seller. What if we just take this off your hands and cover the back taxes for you, right?

And the $1 Skittle.

Yeah, $1.

I was thinking about— and I don't know if it's on the list, that one, but I was thinking about— but you know where I was going, I think. But this is the $1 skid on. This is a powerful move. This is a power play. Because you many times— like Mark, I think you just said— once you contact the county and say, hey, in layman's terms, is something bad gonna happen in the next 6 months? Like, when do I have to worry about this? And they're like, oh, don't worry about it, it's been a year or two before— I'm not paying anything until that property's sold. I'm gonna get it sold, then I'm gonna have a great ROI. I'm not even worried about that. It's a huge It was great. That's great gold.

I have actually written— I concur as well. I have actually written a $1 check to someone before at their request, uh, back when I was a beginner and didn't really know anything. She just, she just requested that I send her a $1 check for her records so that there was an actual monetary transaction.

Mark J. Podolsky and I did this property together because I wasn't gonna— I called Scott up and said, I got I got this property. Yeah, it was like, I was— the guy wanted to sell me this property. I literally didn't want it because it was like all wetland and all this. And I'm like, Scott, like, I think you'll sell for like $100. And he's like, let's buy it together. I'd buy that. I'm like, look at it though. He's like, let's just buy it. The guy— I didn't want it. The guy's like, buy it, I just want to get rid of it. So finally gave him $100. We sold it for $10 grand. Scott and I to the neighbor, to the neighborhood.

This is why, this is why I love the community.

And I didn't— I was a guy, he begged us to take it from him.

It's unbelievable. I was out to dinner, this is a long time ago, years and years ago. I'm out to dinner with my buddies and everybody's kind of talking about business, and I was talking about the dollar Skittle deal. With these guys who had no idea about the land business. And one guy was just disgusted with me, like, how dare you take advantage of these people. Yeah, I was like, I felt so bad. Like, I'm like, wait, I, I, because like, you know, he just didn't understand. And I felt defensive, but like, you know, you're the group of guys, like, you're not gonna— I'm not gonna go into the, all the intricacies of the business and like I'm not really taking advantage of this person, and they were thrilled to be rid of it, and this or that. I was just like, I need to get a community. I need to—

yeah, right?

Do you guys ever have that? Like, you know—

oh yeah, I get, uh, I get people who have said to me, this seems shady, right? Or, uh, I've had— I've talked to people who were possibly interested in getting into the business, but they, they couldn't get over the fact that they felt like we were taking advantage of people.

You know, the easiest way to put this in perspective is like, this is where I tell people, and then they're like, oh, it makes sense. Like, if this is my garage office, they go to the other side, I got a bunch of stuff over there, some bikes. Say one of those bikes is worth $500. So someone came tomorrow and said, I'll give you $150, $200 for it. Like, get it out of here! I don't use that anymore. And I don't sell bikes. I don't want to sell bikes. I don't want to deal with people coming to my house looking at a bike, trying the bike on. Like, you want to give me $200 and go resell it, uh, go ahead. I just— I'll take the $200 and I'll be happy. When you frame it like that, it makes sense. Land is no different than the bike hanging in your garage or something you don't use anymore that you've emotionally detached from. You're done with it. You don't want it. And if someone comes in, Mark, I would tell people, what are you gonna do with this property? How do I tell them to make a bunch of money? Oh, I'll tell them the truth. Well, what I like to do instead of investing in the stock market. I like to offer this to people on small monthly payments, and then I'll make my money over a long period of time. In fact, you know, if you want more money, you could do the same thing. 100% of them, that sounds complicated, I don't want any part of that. I'm like, well, okay, well, that's what I do. Like, this is, this is not shady, this is just, this is just the reality. People are done with it emotionally.

Yeah, I mean, this is, you know, called capitalism, but this is before Taylor Swift, and I didn't, I didn't have the language to say haters are gonna hate. You know, it was just—

don't have a great— drop the mic right there. Haters are gonna hate. And just walked out of the restaurant. Yeah, mic drop.

Mic drop. Like, what do you do? How do you make money? Yeah, I'm sure I could find something.

Yeah, everybody, like, why don't you just give away your products? Why you make money? Like, why does— it's enough said.

Yeah, but You know, the longer, the longer I'm in this. So we, we are helping people. We're helping people solve a problem. They don't know how to get rid of these properties, right? Right.

We're working with them, definitely helping people. We're helping people all along the line. I mean, not only we help the seller, then we're helping the county get the taxes for schools and hospitals and roads and infrastructure, whatever it is. And then you're helping somebody get an asset that lasts forever. That they didn't know they could afford. It's value all the way around. And for creating that value, you get, you get money. That's how it's a value exchange.

And then the longer you do this, you create a system and a team of people, and then you're helping your team.

Yeah, that's even— that's super cool to help a team. Yeah, I remember thinking, oh, how great it'd be to have like a one-person business. It's not. It's great to have a team and help people and grow. And it's lonely.

Yeah.

Only the lonely. I was listening to Roy Orbison the other day. Laura's like, who is this guy? I'm like, he's just—

who is this guy?

Roy Orbison.

Yeah. Yeah, he's amazing.

I don't think he sings Only the Lonely, though. Maybe he does. But I don't know.

I thought about I think, uh, you digress.

$1 Skittle. And by the way, that would be dollar with an A-H.

Yeah, that's, that's what I said, right?

Yeah. Mike, I'm just, I'm just curious, as we digress, if you could see any concert right now, who would you see?

Any concert?

Would you take Laura to go see?

If I could see any concert right now, who would I take Laura to see? You know, I am a massive fan of Lady Gaga. I think I told you the story when So I did a Tough Mudder, Mark. You know what that is? I, I did it one time.

Yeah, yeah, that's tough.

Yeah, I did one time. It was crazy. So I'm in the hotel room afterwards— this is years ago— and I'm laying there, I passed out, and that first Lady Gaga concert comes on the TV, and I'm like, I fell in love instantly, like, her voice. So 5 years later, I'm sitting there at Christmas, Laura gets me tickets front row to Lady Gaga. She's like, are you crying? No, I'm not crying. I'm not crying. I'm not crying. Front row to Lady Gaga. Are you kidding me? Like, I was front row. I was the whole time, I was like, Laura, I know she keeps winking at me, tell me to go on stage, but I'm not gonna do it. So, you know, I think I'm a huge Lady Gaga fan. I like Jelly Roll too. I saw him like a year ago. Jelly Roll was—

oh, that guy looks great. You see how much weight he's lost? The old-fashioned way, by the way.

Oh, he's not on injections?

No, he— no, because it affects his voice. Couldn't do it.

Oh, so he had—

he has a nutritionist and a personal trainer and travels with him.

He was so good. At the end of the concert, he started doing old like '80s raps. Like, that guy could do everything. Like, he, he was insane.

Yeah, Laney loves Jelly Roll. Yeah, I, I like Jelly Roll. I don't know if I love Jelly Roll, but I don't see Mark.

I think I'll be— I think you're into rap.

Who would you go see?

I, I like rap. Right now, who would I go see? Don't, don't laugh.

Lady Gaga, can I— come on.

No, because they're all— they're old, but I still, I still have like—

Backstreet Boys.

I just, I just think it's just so cool to see the Rolling Stones. I know. Oh yeah, I know, it's like watching your grandparents, but I just— I, I don't know, there's something about a Stones concert. And I— and plus, in fact, like, how long— how much longer would they have?

Have you been?

Yeah, in like '89. Yeah, like the Steel Wheels tour, college.

Uh, no, that's amazing. Yeah, I totally see the Stones for sure.

That's cool. Yeah. How about you, Scott?

Uh, let's see. Well, I've seen some pretty awesome concerts in my day, but I think there's one on my bucket list that I had. I would love to see a Coldplay concert, I think. Oh, I think they'd be pretty phenomenal. Mark, they're, they're good, man. Oh, I know, they're great. Uh, come on, really? You're gonna mock me on my, my Coldplay choice?

I'm not gonna. I, I think I— look, I could have a lot of respect for music. I just find it a little sleepy.

Okay, I like the Lumineers.

People think the Lumineers are sleepy.

I like Goose. I want to see Goose as well. I'd like to see Goose.

Never heard of Goose.

They're like a jam— they're kind of a jam band, kind of like Grateful Dead. Check them out, they're really good. They're good flow music. Put it on tomorrow, get a lot done. Yep, 12-15 minute song. Yeah, yeah. But, but yeah, can you go sober? Can you— can you what? Can you go sober? Sure, you can go sober. Oh man. All right, well, we have a couple more, uh, deals on the intake side we should talk about. Ready?

Okay.

All right, what's next?

All right, so, uh, we'll go to Mark with this one first. So Mark, the, the, the next deal we're talking about on the intake side is— it's the takeaway. What's the takeaway?

I don't remember that takeaway. I guess the takeaway is when you do your due diligence and you find out that there's an estate, you know, like a probate issue, and— or the tax— the back taxes are too high, it's just not a deal, and they think it's a deal, you got to take it away.

Oh, that's good, that's good, that's good.

All right, that's good.

Am I close? All right, you're off, but that's okay. Mike, what's your— what's your guess?

I feel like maybe— and I don't remember— maybe it's this. We're like, hey Scott, so I thank you, I appreciate the opportunity to buy your property, but unfortunately did our due diligence and, uh, I know I offered you $1,500, but I wouldn't even be able to pay more than $600. I don't want to waste your time. I really apologize.

That's a retrader.

Is it?

Yeah, that's a retrader.

But I'm taking it away.

Yeah, I, I think, uh, the retrader maybe leads into the, the takeaway.

So the takeaway that—

well, no, you're— I, I think you're right. You're, you're along the right lines, right? So like, uh, so maybe they decide, um, maybe you do make an offer, you come back lower and say, you know what, Because of these issues, I know I offered you $2,000. I can really be no more than, I can really be no more than $1,500 into the property.

Oh, you psych.

This is not a takeaway. This is a real trade-off.

Hold on. I've got money set aside to buy land this month, right? If this doesn't work, I'll just move on to the next one. It's kind of a takeaway.

Okay, let's see.

No, that's the second time I got that look from Mark tonight.

Some audience— any audience members want to weigh in? Do you think it's a takeaway or a retrader?

How is it different than the retrader? Just, just in the— just in the attitude.

Just in the attitude, like, yeah, it's okay, I don't need it, it's okay.

Um, Okay, well, you know what, by the way, I'm the outsider here. This is your game. You guys have done this years ago.

It's our 5-minute game.

Disparage the labels. I apologize.

Oh man, this is, this is a funny comment I'll just throw up real briefly. Wait, where'd it go? Right there. We'll just leave that up for a second. That laugh, I love that laugh. Uh, all right, um, Goose, slow ready with a cigar and whiskey is where it's at. See, Jared Russell agrees. Mike, when we meet in Chicago, I think we should, we could, should maybe do it around a Goose concert.

Yeah, in fact, tomorrow I'm gonna have a cigar listening to Goose. That sounds like—

there you go, you're right. All right, sounds good. Sorry, we'll listen together. Let's have a meeting, we'll listen together. Yeah, uh, Kathy says, I thought it was when you buy one off of them and offer to buy the other for minimal amount, you get the rest of the money next month.

That we should name that deal.

Yeah, what would that be?

A Hollingsworth.

A Hollingsworth?

Yeah, I'm writing that down.

Did you get a Hollingsworth?

Kathy and Doug, they're awesome.

They're awesome.

Kathy, how's Disney? Um, I love that they work at Disney. We get this—

they met at Disney.

They met at Disney? Yeah, yeah, awesome. Oh, here we go. Uh, BMK Property Solutions: I tell owners after my due diligence is done that I don't actually want the property and I don't want to insult them with the offer I would, I would make to buy it. Usually they say, just give me your offer.

Nice, nice.

So is that very nice?

That's kind of a takeaway. Yeah, I like that one.

That's a takeaway. That's a legit takeaway.

I mean, it works. I like that.

So you were really honing in on, on the definition of these terms and even better in a better way tonight as a result of tonight.

You have two properties, you buy the second property dirt cheap because you didn't want that one in the first place. What do we call that?

Okay, what now?

So I mailed you for a property.

Yeah.

And find out that you have another property in another area I don't work, and I'm like, I guess I'll take it off your hands cheap.

That's the Hollingsworth.

That's the Hollingsworth. Is that what she's talking about?

Yeah, yeah, I think that's what she's saying, but that's kind of like— that's kind of the— kind of along the lines of our next term, the chunk changer. So, so, Mike, the chunk changer.

I got the hiccups now. This is horrible.

Do you remember what the chunk changer is, Mike? Oh, you don't?

Remind me.

All right, okay, so this is when somebody comes across, they have 10, 20, 30 properties, and, uh, you know, we're gonna take everything from them and close it all at once, and we're gonna do it at a nice deep discount. Mike, this was your idea years ago, the chunk changer. I don't know why you called it the chunk changer, but that's what we—

bulk deal.

Yeah, it's a bulk deal, but a chunk changer Makes sense, I guess.

A lot of whiskey when we were doing this, so, you know. Yeah, I know, probably like 6 whiskeys deep when I made up that word. I, I don't know.

Oh man.

All right, well, so that was a fun game, right?

That's awesome.

That's fun.

That was a fun game. So, so just to recap for the audience, we got the Humdinger, we got the Deflator, we got the Retrader, the $1 Skittle, uh, the Takeaway, and the Hollingsworth. Oh, and the Chunk Changer. Okay, it should be Chump.

Yeah, but I want to just poll the audience. Which is your favorite name of your deal? And the retrader doesn't get a name?

It's the retrader.

It's the retrader. That's a great name.

You were calling the takeaway the retrader.

Something different. Let's see, we can call it Kathy's That's his favorite deal, the Hollingsworth.

Oh man. Well, maybe we should, uh, since we've covered our topic for the night, uh, and we've had a lot of fun, should we open it up for some questions? Yeah, yeah, a little dealer's choice Q&A. Anybody have any questions out there? Doug is at work, he's listening and participating with us. He's still at work at 9:40. I guess Disney is open late.

Yeah, Disney's open late. What, they open till midnight?

What?

Yeah.

Uh, let's see here. Awesome. I'm looking, looking for comments, comments, questions, topics of consideration. We had a good webinar tonight. We had a webinar. We do a webinar once a month or so, and we had, uh some new folks considering land investing that were on the call. And we had a nice chat about what the business can do for folks. But, but really, Mark, we talked about what even $1,000 can do for people and the fact that you can get to $1,000 a month passive income in this business in a year or less, right? You can get to $2,000 or $3,000 a month in a year or less, you can get to more, more than that. But really, you know, what would $1,000 a month do for people? And we had all sorts of people chiming in saying that that would make a big difference in their life with their mortgage or their debt or the groceries. Groceries right now are insane, man. It's nuts.

It's insane.

It really is.

It is.

So, so if you're considering land investing and you want to start making a little bit of money on the side, which can then grow to a much more substantial amount if you just stick with it. You know, go to thelandgeek.com, schedule a call, and let's chat and see if it's the right fit for you. Mike, what were your impressions from the— oh, go on, Mark.

No, I just think it's the antidote for financial insecurities is having that cash flow, taking cash, which is, you know, losing its value every day and putting into an asset that's going up in value because it's an inflation hedge.

Mm-hmm. Makes total sense.

Like, even, even if you didn't sell it right away, like some— like sometimes we have clients like, oh, I haven't sold it, you know, I haven't sold the property. Like, well, it's great, it's gonna go up in value next month, so don't stress.

Yeah, we were talking about that the other night, like all these properties, if we had done nothing but just sit on them —would owe me a ton of money because they've appreciated it.

This is a good one. This is from Rick Colcox. I love Rick. He pays attention. Is the Uncle Bernie the name for when they have to go through probate first? I like that. That's great.

The Uncle Bernie.

Yes, I like that a lot. Oh, actually, you know what I missed? I missed one 'cause we actually had a title for that. It's called the cleana. So the cleana is when you help fix the mess. So maybe there's a deceased spouse on the title or maybe probate is required and you're gonna point them in the right direction. Maybe there's like 5 owners on the deed and it's gonna take a little bit of work to make this a clean transaction. But the question on those things, on those deals, on the clean deals, is, is the juice, is the juice worth the squeeze, right? Because we like the easy deals. And I would say if it's a very profitable deal, you can help maybe clean up some issues with the title or that type of thing, and be willing to do that. But there is some time involved in that. And you wanna make sure that your time that you invest in it is reflected in the price that you're getting for the property.

For the cleaner. Was it Jeff Detmer, Mark J. Podolsky, that got two sisters that hadn't talked in years back together?

Was that him? No, that was—

That was Dr. Demick. Dr. Demick. Dr. Demick, right?

Okay. Yeah, Bob Demick.

Because they needed to both sign. And he kind of—

yeah, there's 3 sisters that were estranged for like 20 years, and over this land deal they came back together because they all had to sign, and they couldn't remember why they were mad at each other. Isn't that crazy? It's crazy. I mean, it's a long time to hold a grudge, but like, after all, I think you hold a grudge too long and you, you— it's almost embarrassing to come back. In a way. I don't know, put in the chat, grudge holders, what's, uh, what's holding you back from reuniting? Because you forget. Yeah, yeah, for sure. Or you forgive, but you just, you know, you don't forget, you forgive. You're like, oh, you know, it's my sister. I don't know. Look what Kathy said.

Kathy, don't, don't say that about Women, Kathy, we're gonna leave that one alone, the three of us. Uh, Kathy likes— careful, Mike— Kathy likes the Kleena. Uh, change her name from Chatty Kathy to the Kleena Kathy. She has a lot of those Kleena deals, I guess. Uh, that's awesome. All right, here's a good question. You guys chat amongst yourselves while I let my annoying dog out of the house. Can you buy a decent amount of land with $5,000 to start with? Like, say, I'll be right back. Absolutely.

Um, you could buy— I'm buying a— I think I told you, Mark, I'm buying 100 properties right now in— or $450 apiece. Yeah. So, and I mean, this small deal, so every $500 property is worth about $50 a month. It'll turn into $2,000. That's a 4x. That's an extra $5,000 of total passive income once they all sell. So it's a base hit after base hit after base hit. So yeah, Brian, absolutely.

Yeah, I mean, you absolutely— yeah, absolutely. I mean, even Landarb, you could do 10 $50 a month deals.

Yeah, it's great. I was talking to a woman today who's been Landarb in a property for a while, and the Property has appreciated in value crazy. Land app is such a great option.

Literally, I didn't even do my— I'm so tired, I might even do my math right. That's— what is it? That's 100 at 50. What's that? $5,000.

Oh yeah. Um, Brian, great to have you here. Sorry that I have the hiccups. I'm annoying everybody right now, but I don't know, I gotta hold my breath or something, get rid of these. But Brian was okay here.

Mike, I'll get rid of your hiccups. Gonna scare me by the way? No, no, I'm not gonna— no, look at Siri. Okay, ready? Yeah. What is 3 times 12? Boom! 36 minus 4, 32 plus 17.

32 plus 17, 49 minus 80.

Minus 8 minus 80. Go to the negatives.

So negative 31 plus 12. Plus 12. So now negative 31, you gotta take away 12. So 21— not negative 20. Negative 20 times 4, negative 80.

Okay, like, the hiccup should be gone by now.

I got you. Get you out of your head. I like that. Yeah. Um, thank you. That was pretty welcome.

Yeah, you learned something new on Nightcap. You just do some weird math and go away. Who taught you that? My buddy. I had the hiccups.

So Brian was at the webinar. Brian's gonna be doing flight school, Mark. Um, he's just getting ramping up, getting prepped on that. And that he was one that asked that question. So nice to have you here, Brian. Awesome, Brian.

Congrats. I have lots of sisters.

Mike, all I could hear was Mike doing math. And I thought of his favorite quote.

There are three kinds of mathematicians: those who can add, those who can't.

So many quotes from the Zen Master. So many quotes. Here's a good question from BMK Property Solutions. What are your thoughts on negotiating the price of a land arb deal if he's purchasing the property?

Hmm. Tough, tough to deal with. I mean, that's— if you're usually— there's not much of a negotiation because you're making the spread. So it's a tough negotiation to try. What's the worst thing they can say?

Always try.

Yeah, there might be some, um, a lot of us charge note fees, right? So $10 monthly note fee, $12 monthly note fee. I've had people ask me before, hey, will you waive the note fee, right? I'd maybe consider something like that, or I'd chop it in half, right? Something like that. But yeah, I kind of agree with Mark. Usually the Land Art properties are nicely priced so that you can afford to carry the land monthly. And then if you sell it right away, right, your return is infinite. Even if you sell it, I've done it, sat down and done the calculation on yield. Even if you sell it by like month 6, Mark, the numbers are still crazy. You saw it by month 6.

I know, the Land Art math is fantastic. Yeah.

Awesome. BJ the Land Grabber is here. Now that would be you, it's gotta be UH, Land Grabber, Grabber. Uh, is it okay to start off with one parcel? Was that not enough?

Gonna start somewhere.

Yeah, better than zero.

More the better. I mean, Mark, you always talk about getting, what, like 5 to 7 properties? It's just some sort of magic.

Yeah, the magic number is 5 to 7. If you start in flight school, that's sort of the promise, is like you're gonna buy 5 to 7 properties.

But you got to start with one. You got to start with one. Yeah, right. Turn one into two, turn two into four.

There's no land shame here. No land. No land shame.

None whatsoever. Awesome. Any other questions? Well, I had fun with you guys tonight.

It's been fantastic. Yeah, always, always fun.

Always fun. Hopefully we gave some value. To our many fans.

Yeah, let's, let's hope.

Well, we weren't on all platforms tonight, is that right?

No, we're, uh, we're on all platforms. We just didn't have the— you know what I think it is? We didn't have the intro. We didn't have the, the rousing heavy metal intro, and that, that affected my performance tonight.

You love that intro. Yeah, who doesn't love that intro?

Are we gonna have the outro? I, uh, I think we do have the outro. Let me look. We'd have the outro, so we're good there.

Okay, I've got, I've got a nighttime dilemma. Can, can we do something? Yeah, what's up? You guys care? Okay, so I, so I, I ate an early dinner and, but now I'm tired, but it's like, it's only 8 o'clock here. And I want to stay up. And so the way I kind of stay up is like I kind of snack a little bit, but I know it's not good to like eat before bed.

So I eat before bed.

You do eat? Come on, I eat a lot before I go to bed.

Okay, so it's okay.

I don't eat all day long, but I'll eat a lot before I go to bed. I'm just— I'm a nighttime eater. You are?

Okay, Mark, you deserve a cheat day. You've been working really hard.

Yeah, by the way, I asked my doctor this because I totally— because she's like, you gotta lose weight, you gotta do this, that. I'm like, what about a cheat day? She's like, you're only cheating yourself.

Come on, you're— where's your doctor, man? It's tough.

I opened up the freezer last night. I don't know who put him in there, but there was his bag and it was like cookie dough mix. It was like s'mores mix, all frozen. I'm like, whose bag is this? And then my daughter came home like, I don't know what happened, but there's no— there's no more food in that bag you had in the freezer. I don't know, it's all gone.

I'll tell you what's actually killing me is cute sweet Girl Scouts, because at my breakfast place they sit there, right there, and they're adorable.

They shame you.

It's like— and so this, this is what I did, I swear to God, because I'm like, oh, no sugar, I'm just gonna donate. So I donated, and then Laney comes up and she's like, what are you doing? She's like, where are your cookies? I'm like, no, no, I'm just donating, I don't want the cookies. She's like, well, I want the cookies. So now I had to do another transaction because like, well, once you donate, donate. So, so she got Thin Mint cookies and they're in the freezer. You can only eat them by the rack.

You can't eat one if you open that.

Amazing.

That goes— you cannot eat one. That is the whole rack at once.

That's the only way to eat them. It's right, I know. And I can't— I don't know, they are so good.

I know, I just go back.

I like the Do-si-dos. You know what I like?

The Dosey's ice cream. Then I realized I was telling Laura, they could put protein in front of anything. They've probably got protein Snickers bars, protein carbohydrates, protein junk food. I'll eat it. Just put the word protein in front of it and I'll eat it.

Have you had the Magic Spoon Fruity Fruit Loops? That's protein cereal. Delicious.

Oh man, no way.

Yeah, yeah.

Is it actually the Froot Loop brand?

No, no, no, it's just a Magic Spoon, but it's like kind of Froot Loops flavor. I think I'm gonna have that sweetness, but it's like 15 grams of protein.

I have it upstairs right now. I'm gonna go get a big bowl of that right now. Thank you.

Oh, banana pineapple before bed, you'll sleep. That's a good idea. I don't have it either.

I don't either. I'm pineapple juice. Try that. MK Property Solutions in Hawaii.

That's a great idea. Maybe I'll try the banana or pineapple. I don't know. I'll give it a shot.

He said he signed up for boot camp but never received a link. Sad few days. Oh man, I wish you had emailed us. Us? Yeah, support@thelanggeeks.com would hook you up. support@thelanggeeks.com. We got another one coming up in May though, right, Mark? Virtual boot camp in May. I think that's right.

I think so. I can't compare.

I don't know. Yeah, I think it's just, just 3 months, 4 months away. Uh, we have another one in May, so make sure to grab us, uh, make sure to grab us then. I just read grabba, that's why I read, said grab. All right, one last question. You ready? Yeah. In today's time, what do you guys think a good price for your first parcel would be as far as purchasing And do you recommend at least making sure parcels are at least 1 acre?

Mike Sano, what I tell people, you know, I don't know, you can build your process, your system in flight school with a $5,000 property or $500 property. I think you can start small, the same workflow, the same process. So I don't think you need anything crazy. It doesn't have to be an acre, it just has to be a property that you can market and sell. So I would buy something, $500 to $1,000, $1,500, $1,500, it doesn't matter. You know, you just need something. That's why we have, uh, by week 5 you have to own a property. We prompt you to do that because we need you to start marketing something. So, and you use those properties to build out your system. So it doesn't really matter, just get a property.

Yeah, just get a property and, and make sure, uh, make sure you're not overpaying. Make sure you're buying at a deep discount. And, you know, over 10 years into this, I buy, I'll buy a $500 property if the numbers make sense. I'll buy a $5,000 property if the numbers make sense. So do the numbers make sense? I think that's the most important thing. Does it fit your budget? Right? So yeah, that's what I would look for.

I concur. I concur. I mean, we make our money on the buy. It's sort of—

yeah, yeah.

Don't you guys know what Dosidos are? Dosidos are the peanut butter cake cookies, the Girl Scout peanut butter cake cookies. They call them Dosidos. Come on, I don't know why Samoas—

listen, if anybody has people— Girl Scouts, um, could you hook me up? Because nope, I haven't seen it. I don't go anywhere these days. I'm sort of like a homebody. I go to jiu-jitsu, I visit my parents, so We have our food. We're very— we call, we have the groceries delivered. So I don't see these Girl Scouts. I haven't bought any. I haven't been encountered any of them.

You're lucky.

Don't they hang out at the grocery stores here? They hang out at the grocery stores. They sit right out front of the grocery store. And then every time you go to the grocery store, you're guilted into buying more Thin Mints.

Speaking of stores, that was my first trip to meet Mark in Arizona. And I went— Laura and I stayed a little longer, went to an Airbnb. We went into the grocery store and I'm like, You gotta be kidding. I walk up, all these— you guys got a bar inside the grocery store? I go, no wonder you guys are all shopping for your wives. All these old guys sitting around having a drink. Is that standard in Arizona? It's just this one area. Like, they had a bar smack dab in the middle of the grocery store. I was like, that was a bougie grocery store.

It's not every grocery store has that.

These old guys like, yeah, come have a drink. I go, no wonder you guys do all the shopping out here. You guys have a bar right in the middle.

Yeah, they get the cheese and the wine. It's really fun.

Ah, that's awesome. Thanks. All right, guys, well, appreciate, uh, appreciate you guys, uh, joining us this evening. Fun as always. We'll see you next week. We'll bring another, uh, fun topic to the table.

John, we hope you feel better.

We'll have our intro music. Love you guys.

John Burnett, miss you.

Night, everybody. Talk to you soon. Thank you.