Nite Cap with The Land Geek Guys—The Investment Needed To Get Started

Hey, how you doing, my friend?

Doing great. You seem to be aglow.

We're bringing in December in a very festive fashion.

Who's your little buddy there?

Aaron thought it was only appropriate that we would. We would don my bourbon with a scarf and cap this evening. Ever seen that before?

I don't know what I'm gonna do to my beer.

Yeah, I don't know. We need a little robe. Little mini robe for your beer.

That's a great idea, Scott.

It's a great idea.

You know what I'm talking about right here. You just revealed, like, cat koozies.

Yeah, exactly. How you doing, Michael Zano?

Doing great, Scott. Boston. And why are we here? Who are we? Some people are new. They have never seen this before.

Yeah, I feel like I haven't seen you in ages. We haven't done this in a long time.

Well, you know, it was a really busy, you know, Thanksgiving. We did have a show. Some of you may have missed it, but you can catch it on YouTube. You can catch it on Netflix. It's the. We had the brunch on Sunday after Thanksgiving and before Cyber Monday.

Yes, we did. We had the Nightcap brunch. We had Bloody Marys. Yours was very impressive, I must say.

Yes. Huge.

It was. It was huge. It was huge. That's how they say it out where you are. But like any good show, Mike, there needs to be a break in the action so the audience can anticipate the next episode, Right?

Yes.

The goings on, the happenings later on. It's like there was a cliffhanger and we just left them all hanging for two weeks. And here we are. Everybody can breathe a sigh of relief. We're back.

We're winding down our first year. I mean, this has been a great year. A lot of crazy, great things have happened. And, you know, we're gonna have to have a year in review show soon because it's like 2019 is right upon us, and it's gonna be an awesome year. And, you know, this has been a great year as well.

It's been a lot of fun. When did we start this March.

I was trying to think about that. Yeah, we've been rolling since, you know, pretty much beginning of the year.

Yeah, no, it's been. It's been a lot of fun. So for those of you who are not, who have never seen us before, we are the Land Geek Guys, and this is Nightcap. It's just a chance for us to sit back and enjoy a cocktail. Where'd it go? There it went. Enjoy a cocktail and talk all things land investing. And the beauty of this is we talk a lot about land investing, but we talk a lot of. We're kind of philosophical sometimes.

Yes, yes. We think big thoughts.

We think big thoughts. And that's what this business does for you.

Yes.

It's not just tangible. The benefits of this business are not just tangible. They don't just show up in the bank account. There are a lot of intangible benefits as well.

Yeah. This business empowers you. I mean, you start to create a business out of literally nothing. Right. Lift up by your own bootstraps. You start to start, do deals, make money, and eventually pay a couple bills and then replace your fixed expenses with your passive income. Powerful things happen, not just financially, but mentally. Yeah, very good point, Scott.

Yeah. That kind of segues into what we're talking about tonight, actually.

Segue away.

Segue away. Well, we just thought it'd be kind of fun to talk about what you. What you need to invest to get into this business. And really, when you look at real estate models, you don't need a lot of money to get started. You do need time. But that's with anything, right? And as you say, and I love this time's coming no matter what.

It's true. A year from now is gonna happen. Ten years from now is gonna happen. My kung fu, tai chi teacher years ago, I said, how long to be good at Tai Chi? 10 years. I'm like, 10 years. Who's got 10 years? He's like, 10 years is coming either way. Only difference is either you'll be good at tai chi or you won't. I mean, this next year is coming. 20, 19 is going to come and go. Will you have moved the needle in your life? Will you have created some passive income? Because the end of the year is coming, right? This next year is coming. It's going to go away. And it's like, what's happened? Have you taken the massive action?

I love that. I'd never heard you say that before, like two weeks ago.

Yeah, it was a very good story because it's true, you know, And I think that a lot of powerful things can convey the stories. We always talk about how it's great for boot camp, right? You go and you listen to the success stories of the students. There's that, you know, you can relate to them. They're regular people, and this business has moved their lives in powerful ways. And the story. Right. That conveys the message and that brings the power.

Yeah, for sure. Power. Power. So Time is coming either way. Time is coming, Mr. Wayne. Like the storm.

Yes. That's what we talk about when you put that mailings out. Right? Massive mailings. That's my massive mailings.

Right.

Well then there's a storm coming, Mr. Wayne. There's a storm coming. But it's a storm. That's good, right? You're going to have lots of people contact you. You're going to have a lot of intake. That's what Mark always says. Right? New problem, good problem.

New problem, good problem. That's right. So what we want to talk about tonight is how logistically you can get started in this business without a lot of money. And if you have the time and you have the drive and you have the motivation, you have the why, you can start doing deals really quickly and it can be a lot more lucrative than a lot of other real estate models out there.

Yeah, it's a micro environment because you know, you don't need to leverage other people's money. You don't need to go and have a ton of money. I mean, it's always kind of a cool topic because as I've said before, I started out in the hole about $40,000. So people say how much money I need to start? I'm like, well, there are some traditional answers, but in my particular situation it was a negative sign, a big one. But the business has the power to change that too.

Yeah. So Mike, when you started out in that hole, you needed to devote time to this, right?

Yes.

Time is huge when you're first starting out with this. But look at the resources available to you. Not only, I mean we have the interweb, the all powerful interweb, but we have. There's a lot of content in this group. If you go to the search icon in this group and you type in mastermind or office hours or roundtable or nightcap, I mean there's a ton of content in here. Right, right. Get that content. All you have to do is invest your time in that content. You don't have to invest any money in that content. And then there's a YouTube channel. So, you know, you invest your time. Now if you want to go a little bit more quickly, you invest a little bit of money with the investor toolkit or maybe flight school and you will move forward more quickly. But even in the grand scheme of things, those monetary investments are really small.

Minimal.

Minimal. When you look at. And we'll talk about this later. When you look at your return on time invested in your return on cash invested.

Yeah, yeah. There's definitely, it's definitely. Yeah, definitely minimal. I mean, here's the thing though. It's like you want to scale your time, so you got to get some direction, right? You know, you, you wouldn't try to hit a target by, you know, I mean, guess there are some super mastermind shooters that can close their eyes and boom, fire, hit a target, right? But for the average folk, you got to aim, you got to have a target, you got to have a method to hit that target. You got to have that rifle, right, or whatnot. And so you have to have this whole, you know, structure in place, right? And, and then, and then go for it, right? But yeah, very important, right? Scale of that time.

Scale of time is huge. And, and you can, you can use these tools to scale your time. You can, these free tools you can use. You can, you can use the Investor toolkit to scale your time. The new and improved investor toolkit, which I'm not, you know, it was somewhat bare bones three years ago. Now it's like this beautiful interface. It's very organized, it's got an amazing feel to it. And still when you're looking at the investment needed to get the toolkit, it's when you're looking at the grand scheme of things over time and knowing what that will result in is very minimal. So you need, what do you need, Mike, to get started in this? You need time, right? You need resources, which there are a lot of. You need the drive and you need the motivation and you need the why.

You need to believe. I mean, in the beginning, I always say people start out with like, hey, heard about this land investing. Jeez, is that real? Or is another like, late night infomercial where they wear fancy suits and show their cars and their houses off and encourage me that I can someday do that? No, it's not. It's really just a, it's a, it's a true and tried method to make money, right? It's, it's just a way that we do it that works really well because we scale our time. Then your next step is, well, do I see myself doing that? Could I see myself doing that? Because there's a lot of ways to generate money out there. This happens to be a very good way to generate passive income. And, and you begin to evaluate whether or not it suits your aptitude, your needs. Do you want to do it? If that meets. It's like, okay, you believe it's real. You know, it'll be good for you. How do you get rolling quickly, right? That's the next thing. Right. So that's what we're talking about here. Right. Don't forget. Just you brought up a great point.

The idea.

A lot of you don't realize what we have on the phone. Scott, the app.

Yeah, we have a Land Geek app.

Download it now if you haven't seen it right now, like right now, massive action, and download that app.

Download the Land Geek app. You have access to all of the best passive income model podcasts and the art of passive income model podcasts. And how many of us have gotten sucked into the Mark Podolsky podcast Whirlwind? This is not a bad thing. No, this is how many of us have, Scott. Todd says Mark Podolski was his best friend because he listened to like 30 podcasts all in a row. Right. I am guilty of that. You were guilty of that.

Yes.

The thing about these podcasts with Mark Podolsky, especially his older podcast, the best passive income model podcast is the stories, the student success stories in there were what motivated me. And Mark Podolsky's passion in his voice, when he is trying to convince every single one of his guests on his podcast that he has the best passive income model. It made me believe and it's true.

Yeah, no, very powerful. And you know, listen to those. Go back and you want to immerse yourself in this experience to see if it fits you. So start listening, stop paying attention, start getting in the game.

Yes. And there's, there's no better time for that than in the car. How many, how Many people drive 30 minutes, 45 minutes an hour to work just one direction? Right.

And then you could just turn that into an educational experience. Right. I mean, a lot of people probably use audible and whatnot, but download this app, start listening to these podcasts and start feeling the difference that it can make in your life to really take something that will bring passive income. You know, the one time transaction with a multiple return payments. It's incredible. I mean, we have a really great product. We also teach a system that can handle that because anybody could do a deal here, a deal there. But if we're talking scaling, you need to have a system, a framework. So we are experts at that as well. It's just, it's phenomenal.

Jake Martin just commented. And by the way, Jake, nice to see you on here. I think you just joined flight school, so congratulations. But guess how long Jake Martin's commute is, Mike? 90 minutes. 90 minutes one way. Wow. Now I can almost guarantee Jake something if he listens to mark Podolski 90 minutes times two a day. And he listens to podcasts, Best of Pet, Best Passive Income Model, Art of Passive Income Model Roundtable Podcasts, Mastermind calls Nightcap if he listens 90 minutes twice a day and he combines that with action. Jake Martin, you will not be commuting 90 minutes one way in a couple years.

Yeah, it's true. It's what you pay attention to, right? You have the ability to focus your attention on something, right? And we get into these daily routines and daily habits and you know, some of them are positive, some of them not so much, but add another positive one and this, this little addition, this additional habit, right, of listening to the podcast alone begin to inspire you. And it'll help you think differently. And when you think differently, you'll take different action. Take different action. You'll have different results. Because if you're doing the same thing every day, you know that the results going to be pretty much the same thing, right? It's no secret, right? There's no, there's no secret punchline. You do this, continue to do this as you'll continue to experience this, right? Change it up a little bit, you know, and see what happens. Change your mindset, also change the actions and then change your results.

Yeah, that's awesome. So, all right, so we've established you need some time to get involved in this. You need time to learn the business model. And it's really not that difficult of a model, but. What's difficult, Mike?

Action. Action is difficult. Taking the action, that is difficult. There's no information gap. There's an execution gap.

He's pulling up.

I complete you complete me sign. See, it's a love story, folks. Jerry Maguire, commonly misinterpreted as a sports story. It's a love story, isn't it?

It's a love story.

God taught me that twice. First of all, I knew the answer. Second one, knew you were pulling out the new completely paper bang.

We spent a lot of time together.

That's good though. You know, speaking of which, great point. Everybody's heard surround yourself. Take a look at the five people. It's just a number, right? 4, 5, 6, 7, 3. Whoever you surround yourself with on a day to day basis, you know that's going to influence your mindset. So be mindful of who you are surrounding yourself. By now, Scott and I have made a decision to surround ourselves by different people. You know, many of them virtually right? And we see them four times a year and whatnot. But you have Mark Podolsky, you have Scott Todd, you have Tate Litchfield, Eric Peterson, you have Mimi Schmidt, you have Diana Dybal. She's amazing. I don't know how she keeps things so organized. She's amazing. So you surround yourself by these action takers, and guess what? You begin to change your mindset. So you really need to pay attention to that. It's really important. Surround yourself by a different set of mind, a different mindset, a different group of people that think a certain way and see how that affects you.

Yeah, exactly. So, I mean, that's, that's another thing that you can do that doesn't cost a lot of money. Right? You can find people to surround yourself with that bring you to another level. This group does that. Let's talk a little bit, Mike, about the investment. You need money wise, to get into this business. Now you can, you can learn it. You can learn a ton on the Facebook group, on YouTube with the investor toolkit, which is a very small investment. Then, then what you need to do is you need to start taking action. And even if you send 100 mailers out a week, 100 mailers out a week, and you, you hoof it, you do it yourself. You, you mail merge, you, you figure out how to do that like I did three years ago from people on YouTube because I didn't know how to do it. And you start licking and sticking envelopes and using the letter folder machine, which is the first automated tool that Scott Todd introduced to me. It costs like 60 bucks a week to send out a hundred mailers. 60 bucks.

You're gonna spend more than that on coffee.

Coffee and liquor.

Yeah. You will think about it.

You will.

I will. Yeah. The reality is that it's not that big, right? You can redirect those funds. And the only way to really stop moving the needle is to mail, mail, mail, mail, mail. And then the other side, when you get property, that's marketing. But initially to create the deal flow.

Oh, where is it?

Where is it to create the deal flow. And as we know, deal flow solves everything. The only way to really create that deal flow is to mail, mail, mail, mail, and mail some more consistently. Scott Todd talks about that hundred a week, 20 a day. And like Scott just said, you could hoof it in $60 a week. And you can start to move the needle in this business.

And you can find, anybody can find 60 bucks a week. There is something in your life that you're spending too much money on. Maybe, maybe not too much money on. There's something in your life that you are Spending money on that. You could reallocate to mailings, cable, data on your cell phone, coffee, beer, eating out, kids, video games, whatever. There is something that you can use to reallocate.

Yes.

We all have it.

Absolutely. And, you know, this is something that if you do consistently, it will change everything because the deals will start to come and the counter offers will come, and the accepted offers will come, and you will then start to move to the next phase, which is, you know, reviewing those deals and saying, okay, are these worth my time and my money? That's the due diligence phase, when there's only five steps. Scott Todd goes over it over and again. We got the, you know, the mailing. Now it's a quick due diligence that's very simple and efficient the way we do that. Right? Very simple.

So here's my next question for you. When you need to do due diligence on a property, how much does that cost you? Mike, when you are doing it?

Pretty much nothing.

Pretty much nothing. You need some time, a couple of.

Phone calls and a little computer research. Something well within the reach of everyone. And the cost is zero.

The cost is zero. The cost is zero. Phone calls. You use the Interweb to find information.

I love you calling it the Interweb. I feel like it's like an Austin Powers movie when you say that. The interweb, $1 million.

It's kind of an inside joke between my wife and between Aaron and I, because back when we were first dating, we were talking about the power of Google. And I'm like, that's a really powerful search engine. The Interweb is really powerful. So it's just kind of an inside joke. I like the word. The Interweb.

I like it, too. I think it conveys a good feeling.

All right, so due diligence, you don't need a lot of money. Lauren lynch just posted a question she would like to know. Mike, will you guys go over how you do your due diligence? I have a motivated seller right now.

Right. So here's the thing. There's a few things you need to know right away. First of all, you know, can the person you're talking to, can they convey the property to you? So if the property deal is to. If the person who owns the property is. John Smith. Are you talking to John Smith? Hi, Erin. Oh, so festive. Christmas present. Football. Is that his Christmas present? You didn't wrap it?

No, she's just. She's decorating the Packers Christmas tree.

You guys are real sports fans.

Yeah. We're sports fans here in Wisconsin. We have no choice. It's like you guys in Boston. You have no choice.

I have a choice.

Laura laugh. I heard her. All right, anyway, sorry to interrupt.

You were talking about John Smith owns the is. So you want to get a copy first and foremost of the deed, right? Very simple. Is the person that I'm talking to the person that can convey ownership to me? If it's John Smith and the deed and you're talking to Bill Smith, you're like, bill, who's John? And he's like, oh, that was my dad and you know, I paid the taxes, now I own the property. Maybe not, right? You gotta, you gotta, you gotta make sure you're talking to the right person. But you know, most of the time you are. That's the great thing. These are people that own the property. It's okay. John Smith. Okay, I'm talking to John Smith now. How are the taxes? Does the property have any overdue taxes and if so, how much? Now our model is areas where the taxes, even if they're overdue by a few years, they're still very minimal, right? We're not talking a lot of big taxes. So you want to make sure you talk to the right person that can convey you ownership and you also want to make sure the taxes are good. Now you want to make sure the use is good. But here's the thing, if you're following what we do, you're pretty targeted in your mailing, so you probably already know the use ahead of time. Now if you don't, that's okay. You want to find out can they camp, can they rv, can they use it some way? But typically if you're doing this in another way, you would target those people. Laser focus, right? That was awesome. That was just like, that's beautiful, Aaron.

Mike says it's beautiful hun.

It's a laser target into a certain area. So really if you do that correctly, there's only a few things you need to know, right? You know, you might want to look and see if there's access. But here's the reality. I've sold landlocked properties. They still sell, there's value there. So you know, I had a discussion the other day with someone, it's like, well, it's platted out, right? And I see the roads there, but they're not actually there. Well, they have legal access. Okay, that's okay. Maybe someone hasn't bladed the road there yet, but there's still access. So honestly Lon, there's Only a few things you really need to know. And then you evaluate that against the current market. You do your, you know, when you do your mailings, you get a kind of a basic idea of what it is. You don't want to overthink it. Now you're like, okay, offer this person $500. Let's take a look. What's the value? Let's double check that. And once you know that and you know the back tax, you know they can convey and you know the use, it's game on.

So simple.

It didn't take much. It doesn't take much.

All right, dude. Hey, I'm enjoying. I'm enjoying the discussion. We're about. We're about halfway through the show. You know what that means?

Okay, time. It's time.

Because I'm thirsty.

Here it comes. Drum roll, please.

It's Matt Forbes. Jen, time for the refill segment. Yeah.

You're blinding us with your light.

Oh, my God, look at that. That is. Let's talk about that bourbon right there. Why don't you give a little, little insight to the group here? What are we. We're drinking light up LED bourbon.

Yeah, we're having some full batch 1792 bourbon from Barton, Kentucky. Wow.

We celebrating something?

Distillery? No, not really. Just, you know, nightcap. We've been gone for two weeks. I know it's won all sorts of awards this year, so I thought I'd give it a shot. We have this amazing liquor store here in Lacrosse. I love going. There's, you know, there's one on every block, but this one is the best. And yeah, Wisconsin sounds good. Yeah, on Wisconsin for sure. So, yeah, there's a great whiskey selection, so that's what I got tonight. Excellent. What are you drinking, Matt?

I am drinking Bully Boy Old Fashioned in a bottle.

It comes in a bottle already made.

Oh, my God.

Zano, how is it?

It's friggin amazing.

Wait a minute.

Laura has a.

Wait. Bully Boy.

It's called Bully Boy. It's a distillery in Boston. We went and took a tour with my friend and we were like, oh, we'll try the Old Fashioned. I bet that is, you know, horrible. It's amazing. You literally, you're like old Fashioned. Done. That's it. On ice.

How do you spell their name? I'm putting on Lara's action list.

Can you put a link in the comments, Matt?

Oh, okay, I will, I will. I will do that. It's called Bully Boy. I can't spell. Distillery. Jesus. Old Fashioned. Yeah, I had my liquor store bring it in. They were like, oh, we have. We have their gin. And I'm like, well, that's good. I go, just buy a case and I'll buy half the case now. And, you know, and they've already sold out, so. Yeah, it's good.

There it is.

I want something.

All right, we'll raise a glass there, boys, and, you know, have a cocktail for.

Everybody's out there working hard.

Laura Lynch. Well, somebody had one more question, which is she said, he says he just paid off the taxes. Super duper. Call the county and go ahead and confirm that for us. That'd be great.

Yeah, we don't want to take their word for it. We want to double. You know, what's it called? Something to confirm. What is it? What's that saying? Why is it escaping me? I'm having a senior moment Again, trust and confirm. That's not how it goes. It's simple.

Trust but verify.

Trust but verify.

Trust but verify. Yes. Trust but verify. Because, Lauren, it is true. I've spoken to folks in the past, and you always want to give people the benefit of the doubt, and they sound like amazing, honest, truthful, transparent people. And then for whatever reason, there tends to be an issue with the property. So I think we've all had instances like that, Zaino. You probably have, but I was on the verge of purchasing a property, and I find out, hey, there's $1,500 in back taxes on the thing, and I want to pay them, you know, 500. And he says it's free and clear, and it's not. So it's definitely something you want to check with the county. What's that?

I said, ruh row Rorge. That's why you do your due diligence.

Yes, exactly.

Oh, oh, look at that. The librarians back the professor.

Yes, I do that so I can do that. I put them on so I can make a point. I go.

You're not the only one.

Whoa.

Yeah.

Wait, those are. Hold on. Those are your Clark Kent ones from the. From the Halloween episode. There's no glass in there.

They're right up here by my Batman mask. You see, Batman?

Look, look. See, look. Real glasses. See? Real glasses for blind people.

For blind people. Yeah. Matt, thanks for coming on.

Yeah, Scott, let's keep rolling with it. We were talking about the.

Well, okay, so we're to. Due diligence. It really doesn't cost a lot of money. It costs a little bit of time.

The five steps. And what's the true cost of them? I love it.

And, yeah, I mean, so. But you do need to know how to do it. So again, the resources are there, but it all depends on, you know, oh, Matt Forbes.

Can I say how I did, Can I say how I do it personally, please? So, Lauren, you reminded me that I talked to a seller today who sent me back this note. And although I don't think I'm going to buy the property, I send, I fill out a form and the land. Geek VA just do it. It takes me like the time for you to write that to the time I came on this episode. So 60 seconds for me to do all of my, my due diligence. Otherwise it would take my wife probably two hours. So all about delegation.

Good point.

Yeah, it, so, so that's, that's a beautiful thing about, about this community, about Mark Kudolski, about Scott Todd is they are visionary and they know, I mean from experience how powerful this business model is. So, so what do they do? They create tools for us to use that save our time. Because Matt Forbes, I will tell you, three years ago when I was in coaching and I did not have tools like that, due diligence was my biggest pain point. It's not that it was hard, it was just, it took a lot of time during my day as a physical therapist working full time, you know, when am I going to call the county to get this information? And at that time I did not have any VAs, that type of thing. So, so the fact, so you're spoiled. I hate you. I don't want to, I don't want.

To deal with you 100%. Like every time you talk about you hating VA, not doing due diligence, I'm always just like, I'm so glad I started this when I did. Now that you're at, you know, you just quit your job and like, you know, you're living the dream and like, you know, and I'm just, you know, working, you know, three extra hours a day trying to get this thing going. But the pain point that you guys had, I will never really know because my wife did it, you know, for the first few properties until we really got involved and then, and now they just do it. So for me it's a click of a button and it's, it's a no brainer. And I'm really happy that I don't do it because I think that would be one of those things where like Scott Todd says, if you're, if you're ready to quit, you need to have somebody else do it for you. Right? I Think I would have gotten through due diligence one time and then would have been because I just can't do.

That kind of stuff. But even. Even if you're ready to quit due diligence, if you're ready to quit scrubbing a list or acquiring a list, when you're looking at business expenses, Mike, how much are you paying someone to compile a list for you? How much are you paying someone to do due diligence for you? And then you compare that to other type of costs in other businesses.

I mean, extremely.

Minimal.

Minimal.

Minimal again. Right. So what we're getting at here is that the costs associated with getting into this business, minimal. The cost associated with running this business, minimal.

Here's the other thing. People say, well, I need money to buy a property. Guess what? You choose the price point, you choose. If, you know, we buy 25 cents in a dollar, you want to buy a property for $500 that sells cash for 2,000. Bang, there you go. You can even get more aggressive. Or find something that's selling for $1,000 and buy it for 250 or less. You choose the price, the point, the purchase price. So, you know, you have that power. You don't have to have. I mean, Esteeza, micro purchases when it comes to real estate.

Yeah. I mean, I never, ever, ever would have thought you could buy an acre of land for $200 or 100 or a hundred dollars or nothing.

Right?

What do we call it, boys?

You get it for nothing. What do you call it?

Remember the show?

Oh, it's my kid's favorite candy.

Skittle Good for nothing.

No, it's the two dollar Skittle or something. The one dollar Skittle.

We forgot about it. What are you doing? That was like in the show one.

Well, I'm, I'm just a Die hard freaking. I remember this stuff. $1 Skittle.

That was a blast from the past.

That was. And you know what, Zeno? You left. You left an impact on that man right there. You remember that?

That. You know what's funny? When you guys started the show, I. I had just signed up for flight school. Yeah, I think so. I was like trying to consume everything I could. Like listening to all, like Mark's old podcast and then his old, old podcast.

Right.

He's, you know, he's gone through a couple iterations. I was, I was like listening to all of those. I sent Zaino a LinkedIn note that was like, hey, I'm thinking about doing this. What do you think? No response on LinkedIn. Check my LinkedIn I went back and deleted it. Zaino, I did that to you and to Jeff. And I just started to consume sort of everything I could. And I remember sitting on the couch in the morning because it's, you know, nightcap's on at like, what, 3:30am Something horrible. And I would watch it on my TV because I could just cast it onto my TV, and I was like, wow, these guys are like, this is crazy. This is good.

We're on the big screen.

You guys were on the big. On the big dog. Yeah.

How much did it cost you, Matt, to learn from us?

I bow down to your greatness.

I'm totally kidding.

Listen.

Totally kidding.

So listen, we're at the five steps. We've gone over number one, one, number two, which is the mailing, the due diligence, now the closing. What's the cost of the closing, Scott?

The closing? The cost is if you have a copy of the prior deed, you can copy that deed word for word, along with the vesting information, along with the legal description. Right. You use these bad boys on Microsoft Word and create your own deed. Right? And then you record it with the county. 20, 30 bucks.

So there you go. Minimal.

There you go.

Let's talk about advertising. The advertising. The fourth step.

Free tools for advertising. What'd you say?

Free tools for everybody.

Free tools for everybody. Facebook free. Craigslist, free. Mailchimp, free. Ranbodo, free.

There's another one. No, we, like, you're on a roll. We just let you go.

I thought there's like a six coming. I was so excited.

I was hoping you guys would complete me and come up with something again.

It comes down to your own time. Like, you know, more mailing, more properties, more ads, more sales. So it comes down to your time.

Yeah, look. I mean, look at. Look at Boston. If Bosman can do this, anybody can do this. That's what I've been saying to myself the whole time.

Nice of you.

In other words, he inspires you, right?

This stuff, overall, it's, you know, it's not that complicated. It's hot, you know, it's hard.

Right?

There's no. This is like, you know, you don't just walk in and you start buying deals. And it takes time, but it's not. It's not that complicated. It's really not.

You just. We sometimes make it. We sometimes make it more complicated than needs to be. Like, so you know what else I love? Mike Zano is like, oh, I know.

What else I love Mike Zano. End of story. I love it.

There you go.

Did Laura just throw up? A little bit.

But that's what Scott said. I heard it.

Okay. How many people do we talk to, Mike Zaino, who were so concerned about, like, getting a website up and running? Right. For. For their property?

Yes.

So guess what? Go ahead.

No, it's.

I know you're going to complete me on this.

Well, you know, the thing is that there's a few things. Number one, you're focusing on the wrong thing in the beginning, right. You're going to mail, you're going to market having a wonderful website and nobody's seeing it and it just sits there and you can go show your friends and look at. And go look at my website. Great. You sell your property yet? No, but I got a great website.

Right.

Mailing and marketing. You got a market. Market, market, market. Those are the two things that move the business. When you have extra time, you go ahead, you can build that website and all that. And there's so many easy tools out there, right, Scott? I mean, it's not. Doesn't have to be. You don't have to be a coder, you don't have to even clunk around WordPress anymore. There's so many options.

So many options. I mean, Google Drive is a favorite. You go to Google Drive, you create a document, you put some nice pictures in there, some property information. You share that link with people.

Right?

Don't need a website. Yeah. Don't need a fancy website.

Yeah.

Oh, and look at. So now we're so far into this, right? So far into this. We are, you know, say, you know, you sent out a hundred letters. A couple hundred letters. Your $120 there, you did your own due diligence, you closed on the property. So you're not 25 and you buy a $500 property. So you're like, I don't know, say $700 into this, right. You know, that's really the cost of acquisition, right. And then you're going to market it for free. And then when you sell it, boom. Now the magic comes, right? It's really, again, it's not really cost prohibitive, right. That you can, you can lift yourself up by your own bootstraps in this business. It's a micro environment.

And then you have geek pay to help track your note. $9 a month to help track your note.

Yep.

You charge a $10 monthly note fee.

Yeah, I'm making money on gigpay now.

You make money. It's a profit center, as Mark says. It's a profit generating center.

Yeah, it is. And then. Okay, so, you know, we've talked a lot about this. You can get into this for hundreds of dollars. You can purchase private property for hundreds of dollars. We are not talking thousands and thousands and thousands of dollars here like you are with buying a duplex or buying a multifamily apartment building or buying a franchise. We are talking hundreds of dollars.

Yep.

That's crazy, right?

You can get in and just. I told my buddy, my old business partner what I was doing. First of all, like, everyone else you ever tell is, like, crazy, right? Standard. Like, standard operating procedure. I buy and sell land. You're crazy. Okay, let's move on. And I sort of explained it to him, and I was about halfway through, and he goes, so why don't you just go buy a ton of cheap land and just sell it on ebay and make buy for. Buy for 300 bucks and sell it for 450 bucks? I go, you absolutely can't. You absolutely could go and do that all day long. You know, I'm looking to. I'm going a different road, but I could do that. He's like, I'm just gonna go do that. And I'm like, all right, great. That's fine. We'll meet in the middle. That sounds good. But, you know, there's a lot of ways you can get started in this. It doesn't cost a fortune by any stretch. You just gotta go do it.

And it's the execution. It's like this. Knowing about it and knowing how to do it. And then there's doing it. I mean, there's three different levels. I know about it. Okay, great. Now I learned. Okay, Now I know how to do it. Okay, great. Now do it. Execute.

Yeah.

That'S exactly right. And then, like, do it to it. The tools that Mark Podolski has given us with the investor toolkit and flight school, I mean, then, you know, if you want to accelerate your learning, if you want to leverage your time, if you want to use some geeky tools that help you do this business, you're still looking at, what, a couple thousand dollars to get started in this business? And then. Right. If you sell a couple properties on terms $100 down, $100 a month for 72 months, what happens?

Yeah, what happens if you get to just $1,000 a month passive. In a year or two? I mean, $1,000 a month, right. That's $120,000 over 10 years, if my math is correct. I mean, that.

That's just two kinds. Three kinds of math.

You know it, tell me it.

Here we go.

Those who can add and those who.

Can'T show is like my uncle. Lord love it.

All right, I think we're beating a dead horse here, so. All right, since we're beating a dead horse, I think we have a couple segments actually.

Alright, let's have a couple segments. We'll wrap this up.

Segment.

I'll take it up.

I got a couple Facebook quotes of the week here.

Oh, nice, nice.

The first one. Let me see if I can share, share my screen with you here.

Be a shame if it stopped blinking at me. Oh, yeah, Kenyon, Yeah.

All right, so I got to give a shout out to Kenyon here. So Kenyon. Kenyon recently finished flight school. He recently went into coaching, but he threw this up in the group. I believe it was during Thanksgiving week because I seem to remember that. But he said you really can do this business anywhere. Just sold a property sailing the high seas. And for Kenyon's job, he's, I believe, in the Navy, he's on the seas and he's doing deals out on the Atlantic Ocean.

He seized the moment. On the seas.

Wow. Yes, he did.

Yeah. We should stop and say, right. There's a lot of, you know, in the greater real estate world. So I know, like, you guys are heavy land. But I wasn't, but I was still. I was in the real estate sort of investing world for a long time. And you know, military members, and I don't know if he's reserve or if he's in full time, but a lot of them, you know, do the whole apartment thing and they get stationed at a base and they buy a house and then they get stationed somewhere else and they rent the house and they forcibly, whether they like it or not, become real estate investors and sort of get with it. The land thing, I mean, if you're a military person, the land route is so suited for you for all the reasons why it's great for, you know, for Zaino to be a firefighter and compact a normal job into a few days in a week. Military is like that. I mean, granted you work seven days a week. You know, good times go Uncle Sam. But you get that time where you could put in an hour a day or two hours a day, right? From anywhere you can do all this stuff remote. I mean, right? We got people in the language community or, you know, travel full time and they do this. So we should not overlook that. It's odd we never talk about the military like that, but it's a great, It's a great, you know, way to be in the land business and have, you know, and keep that full time job. Great point.

But yeah, yeah. Zaino, I think we should have an episode sometime about how you can do this business abroad because we have all types of those people as well. So we need to have somebody, we have a special guest.

Well, I got some in mind.

There you go. See, I got someone in mind. We could have a twofer and talk about how, how you can do this business abroad. Yeah. Zane, an episode sometime about.

Echo.

What's going on?

Someone's got their Facebook plan.

It's not me.

That was, that was Matt.

Matt.

He wants to hear it. He loved it so much. He wanted to hear it twice.

I wanted to hear two times.

No, I was trying to see if there are any other comments and we got one.

Let's do one other. Let's do one other quote of the week because I want to answer the question for Jason Parker. Can we.

Yes.

All right. So Jason Parker, he posted this a little while ago today. I think when we get ready to purchase a property. Well, there's, first of all, there's a couple methods. There's the direct method which is purchasing preferred, and there's the notary service method. Right. What notary service do you suggest me using?

Okay, sorry, you're asking me.

No, no, there's a second part of the question. So you finished the first part. Yeah.

Basically all I do is go on and just. You can just use Google or Yelp and look for people who are reviewed in the area. I mean you should use Notary Pro and all that. But really the best luck I've had, just search online and see, you know, the reviews. There's reviews out there. Then you call them up and it's done. Bang. You might want to call a couple to get pricing because sometimes they will try to gouge you. That's the reality. It shouldn't cost more than 50, 60 bucks, something like that.

I've. Yeah. One, two, three. Notary comm. Is what I typically use. And the nice thing about that is they have thousands of notaries in their database. You basically Google Map the address of your, of your seller and Google Map the address of your notary, see which one is closest and you know, spend five, ten minutes finding the cheapest one. I've had mobile notaries for 15 bucks. I've had mobile notaries for 50 bucks. So 1, 2, 3, notary.com and the nice thing about a mobile notary, and this gets into his second part of the question is, how does it work? So he basically is asking the logistics of it. So the way, Jason, that I have used a mobile notary in the past is basically they are a work walking escrow agent for me. So I, I contact them. What's so funny? Forbes?

No, that's great. No, it's a really great way to put it. Right. Because they perform that function for you for, you know, 40 bucks.

Pretty good for a redneck.

Okay, all right, all right. Let's, let's, let's rewind the tape. I called Bosman a redneck earlier because he came in with his trucker hat on.

That's not politically correct. Let's. I'll leave it alone. That was, that was not nice of me. I should not have said that.

It was in the moment. We forgive you.

Walking escrow agent. Right. So here's what you do, Jason Parker. You contact somebody on 1-2-3notary.com and you say to them, Mrs. Smith, I would love for you to be my notary. Can I send you the documents electronically? You print them off. Can I send you a check? And you meet the seller in a physical location of your choice. And once the seller has notarized the deed, you hand them a check. There you go. That's how the mobile notary works.

Nice. Awesome.

Not preferred, but it happens. So there you go.

You gotta do it, right? 50 bucks, 60 bucks to get the deal. So what?

Yeah.

Making huge returns.

Zaina, what's so funny?

I am smiling because I appreciate you.

I think you're tired. You need to go to bed now. Put him to bed. Roberto Chavez says, great to see you guys. Expressnotary.com is great too. I haven't heard of that one.

Let's click on that. There they are. America's nationwide notary solution.

What do they say?

Matt Forbes, you were talking earlier about the, the webcam notary service, which. We talked about that a couple years ago, two, three years ago. I remember talking about that on a Mastermind call with Mark or something like that. But. And at the time I think it was quite expensive. But I'm wondering if anyone is using notaries in that regard now. Throw some comments up, tell us how much it costs. But again, in reference to what this whole episode is about, I bet it's not that much.

Yeah, I bet it's come down in price. I mean, you would think that it would be fairly inexpensive to have somebody set up a zoom like this. Right. And, and run that stuff. I think they're the id, right? That's all they do.

Yeah, right. I don't know.

I'll look, I'll try to find that out for next week because it would be interesting to know what they cost. I. My gut would be they would be, you know, pretty inexpensive. 25 bucks.

If I'm in my bathrobe or my smoking jacket and I'm able to notarize a document, is that worth the cost to me of $20? I think so.

I think so.

All right, Zaino, have we done our duty?

We have.

I think it's time to swivel.

Well, let's do one last segment.

All right.

Yeah, we gotta do the.

It's my favorite segment of the week and we haven't done it yet, so it is time. Oh, Sarah Ant is watching. No, Sarah, we miss you.

Sarah Ann.

Are you gonna be.

Sarah Ann hung out. We hung out and had dinner at the last boot camp. I hope she's at the next one. Sarah Ant, by the way, you need to interview her. She has singly handedly, the greatest job of all time. It's amazing.

Yeah, she's. She's living the dream. She is, yeah. Training horses and she's. She's a dog selling land.

Yeah. Something to do with dogs. Very pricey.

We'll have her on. Yeah, we'll have her on at some point. We'll talk to her. But first, before we have Sarah Anton, we need to have the Boston legacy segment.

Yes, yes.

This is.

Gentlemen, this is why I stay up until 11:30.

I hope it's not dunkees again.

That was a big fail.

That was fine.

So the Boston legacy segment is when we. We all talk about a Bostonian word. And here's my favorite, by the way. It's my favorite. Cheetah.

Don't play cards with a cheetah.

Cheetah. Don't play cards with a cheetah. That's a cheetah.

Don't play Scrabble with a cheetah.

Yeah, Scrabble.

I did that for back. I did that for Ben.

That's nice of you. I appreciate that. Scrabble's coming back. I have so many Boston legacy segments right here. It's like craziness. So the Boston legacy segment is when Scott spells a word and Mike pronounces the word and we all hear how it is likely mispronounced properly pronounced. Right, right, right. So here's the word for tonight. Are you ready?

I am ready.

S U G A R Bring me.

Some sugar, sugar Bring me some sugar.

Bring me some sugar Little honeybee. That's a Tom Petty song.

There's a great song once said. Pour some sugar on me Pull some.

Suga on me Suga on me. Who's that by?

Def Leppard.

Def Leppard. What year?

1989.

No, way before that. I'm gonna say 1987. Forbes is looking 87. Yes. Oh, my God.

Look at that.

How do you do that?

I don't know. I just do it.

That's the makings of a great board game.

My God. It should. It's like. It should be a game on TV where you need to be smarter than. Scott. Scott, when's the last time you were on Jeopardy? Just between us girls in the corner.

Speaking of Jeopardy. Mike Zano.

Now, he's exciting.

We are going to be having a Jeopardy. Episode soon. Oh, and you will be playing Matt Forbes.

What is. I'm out of town. That did that week for my real job.

No, no, no, no, no. There's going to be you and two other contestants participating in Nightcap Jeopardy. We don't know yet.

Okay.

But anyway. Yeah, that's ready to crush it.

Let's do it.

We're gonna have. We're gonna have an 80s song category for sure.

Oh, that's fine.

90% related to land, but we'll have an 80s song category.

I'll get my boombox, and I'll be able to hold it up.

I'm ready. Nice. Yeah.

Oh, great movie. He did kickboxing in that movie. That's why I loved it.

What movie? Say anything.

It had to be 1987.

No, it's a little early, Mike. I'm gonna say 1988.

89.

I was gonna say 89. And then you didn't.

Yeah, 89. Yeah.

I told you it was early, though.

Scott.

Yes.

You complete me.

You complete me, my friend. Good episode.

Look at you, too.

We're so happy to have you.

Hug it out. Hug it out.

Look at you guys. I think for all the metrics people out there, we should actually come up with a spreadsheet of how much it costs to get into this business. I think Roberto Chavez would volunteer to do something like that.

Seems like something he wants to do. Like tomorrow.

As my brother once said, there's volunteer and voluntold.

Voluntold.

Voluntold. I like that. All right. All right.

Well, there it is, guys. Are we ready for the swivel out?

What's your toast from the night?

Oh, the best toastmaster I know.

You know what? I'm sick of you pawning things off on me.

I'll get it.

Okay. Here's the five steps to success. Success is five steps away. Stop walking. Cheers.

Cheers.

Cheers. Cheers.

You guys are the best.

Cheers.

Sa.