Nite Cap with The Land Geek Guys—A Day In The Life Of A Land Investor

That's funny. They have that clause so they know.

Definitively it came from the job. That's all it means. I always spin too early.

How you doing, my friend?

Doing great. I just keep spinning too early.

Hey, how's the. Are we on split screen? Are we on?

I am pretty sure we are on. No, we're on split screen. Yeah, we're good to go.

All right, Sounds good. All we do tonight.

You know what?

Every once in a while, we got to mix it up. So tonight is. It's fall flannel night.

I call it flannel fall night.

Flannel fall night. Yeah. That's a little more difficult to say. I like fall flannel, but, yeah.

I don't know.

I was inspired today because it's cold as heck. Heck, here in Wisconsin today.

Wisconsin is what it is.

It was like it was 78 degrees yesterday and woke up this morning. It's like 38 degrees. Like a 40 degree difference.

You feel like you're up north.

Up north. We're up north, yeah. So, Michael, who are we and why are we here?

We are the land geek guys. Scott Bossman, Mike Zaino. We come here to have fun and talk about land investing. Listen, it's 10:30 on the East Coast. 9:30 in Wisconsin. And so we're having a nightcap. And we've been doing this for about, like 10 years now, and we have about 5,000 followers on YouTube and we are in the reruns on Netflix.

So.

Live tonight. And what we do is we talk about. We have a lot of content. I believe my opinion. And we have a lot of fun.

I agree.

We sometimes even have. What, Scott?

Sometimes we even have special guests.

You complete me. Look at that.

Yeah, I know. You complete me. You complete me. What's that movie?

It's a love story, you said?

Yeah, it's a love story. Good job.

You got it.

Jerry Maguire.

McGuire. One of our first segments. You complete me.

See that? We just make it happen like that. Snap, snap, snap. Hey, Scott. Is anybody watching us?

We got a few followers. So what I would say to the followers and the viewers is that we are always open to questions. We love talking land investing. We love drinking in the late evening hours. We love having a bourbon or two.

Although we even had a coffee show the other day. How many out there? Shout out if you. I'd like a shout out from anybody who liked our coffee plug. Basically, we came in, we had some coffee and plugged the show. If anybody likes that, we're gonna do more of those. In fact, we get randomly asked answer questions. I would say on some of those too. Right, Scott?

Yes.

We might just pop up at any point. Because we can do that.

We can do that. Exactly. It's pretty fun. The reason we can do it now is because, like, we're home a lot.

Yes.

Why are we home a lot? Because land investing is amazing and we are able to work from home.

We can even wear flannel shirts and do land investing.

We can wear our jammies.

Yes, yes, we can. We can. We can go to the door, get the mail, and the guy's like, what does this guy do all day but hang around in his jammies?

I saw land.

I gotta show everybody my new hat my wife got me, by the way. I need to make a public. Can I make a public apology?

Yes.

So last. Last Thursday night, nightcap. Yeah. It was actually my anniversary and I didn't say anything.

Oh, my God.

Isn't that horrible?

But I'll say this, since you made me look bad when we had the musical. You sang her a song, which was amazing.

All right, well, thank you. I appreciate that.

That's got to make up for it a little bit. I mean, not completely, I'll have to say, but a little bit. It was your anniversary. I didn't even know.

It was our anniversary last night.

Happy belated anniversary, Aaron.

Thank you, Aaron. I love you. I'm sorry that I was a jerk.

No, you just. You just a land geek guy.

Look, she got me this cool hat.

I love it.

What's it say, Mike?

Never stop exploring. North, south, east, west. It looks like a road.

That's a great land investing hat.

It's pretty trippy, eh?

Pretty trippy, eh? Alright, so we got a couple. Let's see.

Any questions so far?

We have one question so far from Christopher Egnor.

Hey, Chris. What's going on?

Chris, how are you? Thanks for tuning in. His question is, Mike, what is the drink you regret the most?

The one I didn't take.

Oh, that was awesome.

No, you know, I don't know. Lately it's tough because, you know, my wife's in love with George Clooney's tequila. What's it called? Casa Amigos. Casa Amigos. So every night is kind of a. It's like kind of this mental, like, do I have. And I'm not. Listen, I'm not a huge drinker, but I like a little sip at night. We watch a show together. We cuddle up on our separate chairs.

Right, right, right.

We watch a show and it's either whiskey and A beer or some Casa Miagos Tequila. So I don't know. Casa amigos. Right, right, right. For all you George Clooney fans out there, it's a great tequila. I don't know. You know, I think the only drink I've ever read in my life was when I was a younger gentleman and I had a. What's it called when you have vodka and orange juice?

Screwdriver.

Yeah, I regret that one. I'll never drink orange juice again. Or probably vodka. But other than that, no regrets. Great question, Chris, and long time no see. You talk. Great to hear from you, Chris.

I would have to say also from my younger years, back in my college days, I had a little bit too much rum in my rum and Coke and just haven't been able to tolerate rum and cokes ever since. So rum and Coke does not sit well.

I'll tell you one I don't regret. I. I don't regret the blood oath.

Blood oath. I gotta try that.

Comes in a cool case, tastes amazing.

So, Mike, how's land investing going this week?

It's going great. It's going really awesome because I have an awesome team that takes care of pretty much all the details.

So.

Yeah, headed up by my wife, she's the manager of the va. So it's really awesome. I always say, if you want to, you know, lane investing is a team sport. And that's coming from a guy who never really played team sports other than wrestle, which really is a team sport, but really not because you're out on the map by yourself. But it's still a team. And like, I know there's a big team game going on tonight in our neck of the woods called football, and there's a team called the Patriots playing tonight. So anyway, Lana, vesting is a team sport. I built a great team of awesome people and I'm blessed to have them every day.

That's awesome. Good for you.

24:10 Pats are up, by the way.

Anybody's looking good for the pats?

That's football.

Football, Football. Yeah. Land investing is.

How's your land investing week? Tell me about it. Cause you know, you're a full time land investor.

Yeah. So it's been good. I had a sale last week, I had a sale today. So there you go. It's had a nice turn sale.

This week's not a bad number.

Yeah, nice term sale today. Let's see two. Hold on, let me think. 249 down. 265amonth for 84 months.

Nothing wrong with that, that's a good deal. That's a great deal, man. I love it.

Yeah, yeah. So that's a great deal. I love those 60, 72, 84 month deals. Love them.

Very nice. It's a good week.

Matt Forbes wants me to walk through the deal. All right, well, Matt Forbes, this is kind of an interesting deal because, like, I sold this lot a year ago at a much higher price. The guy paid for eight months and had to default. He had some circumstances come up where he had to default.

Redneck default.

Yeah, I don't know, actually. No, it was just kind of a circumstantial thing. He had some rough time, rough things going on. So he and I have an agreement where, you know, he wants property in the future, he'll come back to me, I'll give him a deal, that type of thing.

Nice.

So I spent a couple months again trying to sell this thing. And I didn't try hard, honestly, because it's kind of interesting. This lot was burned by fire and I hesitated marketing it because I'm like, you know what? I don't know. I just don't know if this thing's gonna. It's gonna take a little while to sell. So it was kind of on the back burner of my marketing. And I'm an idiot, right? So, like, why wouldn't I market the thing? Like, Scott, what would you tell somebody else to do? Well, you gotta market the thing. So. So I started marketing it more heavily here in this last week and. And I marketed it at a discount, knowing that I'd already made significant money on the deal and sold it today. So there you go. It was a good. Ended up being a good deal. And you know what? Even this is. This is a lesson to be learned for all those land investors out there. Even the land that burns to the ground can be resold for significant profit.

Love it. Thank you.

Yeah, you're welcome.

I think it's time to bring up the guest.

Yeah, we do a special guest tonight. And. Oh, Lisa Torres wants to know if I sold on Facebook or Craigslist. I sold on Facebook today, Lisa. So here we go. We have a special guest tonight. This is the only coach we've not had on. Definitely not definitely. He might be last, but he's not least for sure.

We've had them live.

Yeah, we have had him live for sure. We've had him live.

I have him live in about two weeks.

And we will have him live in two weeks. Yes.

Can I bring him up?

Yeah, bring him up. I'm Trying to find my clip.

You got a clip? You want me to wait?

No, that's all right. Let's bring him up. Ladies and gentlemen, Eric Peterson. Eric Peterson, my fellow Cubs fan.

There he is.

What's up, Eric?

Hey, how's it going?

Hey, Eric, thanks for joining us.

Absolutely.

Cheers.

Cheers.

What are you drinking tonight, Eric?

I've got an Old Fashioned.

Oh, man, I think we shared one or two of those together.

Yeah, we might have. This one's made with some single barrel Knob Creek rye and other elements of an old Fashioned. Good stuff.

Nice. We should create a nightcap recipe book.

Whoa, I like that. That'll be easy. Just buy it straight out of the bottle, pour it in a glass and put a couple drops of water in it. Done.

We could have every coach's favorite drink.

Mix with 2 drops of water and drink.

There you go.

Eric.

Eric, how's your land investing going this week?

It's going all right. As a matter of fact, today I spent a good amount of time refining my Craigslist ad system. So I'm in the middle of a transition with my VAs. They've been writing ads and kind of working within a certain process for.

Man.

I don't even know how long, probably a couple, at least over a year. And I've been thinking about this for a long time, just some ways to make it more efficient. And I spent some time on reworking that system today. So it was a good day. I'm pretty happy with what I came up with and it's going to allow me to be more efficient with my ads and save money in the production of those ads as well as potentially track leads better in terms of leads per ad. So yeah, very cool.

Yeah, you know, it kind of, you know, a lot of people in the community love the fact that you have a good grasp on automations. Right. Things such as zapier and things of that nature. So I think that's, you know, it's automate delegate. Although there's always the other part I was talking to someone else about today. Can't forget the part eliminate. There's many times when we're doing things on business. Would you agree that there's, you know, automate delegate. But there are sometimes things we're doing, we're like, geez, you know, this part really doesn't have to happen. Right. I can kind of circumvent this somehow. What do you think about that eliminate part? I mean, you're an automate delegate. I mean, more of an automate guy, right? I mean, not that you wouldn't delegate. I know you have that as well, but you're big on automation. Just like eliminate. What's your thoughts on eliminate?

Yeah, definitely. There's always room for elimination. I mean, whether it's completely eliminating a whole task or maybe it's eliminating a way you were doing things. Just like I was talking about a process that over time I've realized there's a more efficient way to do it. So we eliminate some of the old methods and apply the new methods.

Right. It's like Bruce Lee says, it's not about daily increase, it's daily decrease. Hack away at the unessentials. Yeah, that's just a Bruce Lee quote.

That's awesome.

I love that.

Can we dig into. We like to ask some questions like, okay, like the standard ones, like how did you even find out about land investing? Like, you know, you're just kind of surfing through the Internet or did you have a podcast? You know, how'd you find Mark Podolski? How'd you find land investing?

So let's see. I think what happened was I did a remodel or I guess kind of a rehab on a house with my father in law that he had purchased. And it was, I guess really it was more of a restoration, bringing it back to what it used to be. And through that process, I got really interested in real estate. It had always kind of been something I was interested in, but nothing I ever thought I would pursue. And I really enjoyed doing that. My background's in graphic design, so the fact that I was working kind of in a design realm in terms of interiors and finishes and things like that, it just appealed to me. And I started doing research, listening to podcasts, I think, you know, Bigger Pockets is kind of where I began and was listening to all kinds of stuff. And somewhere along the way I think I found Seth Williams and I found Mark both via podcasts and really kind of connected with Mark and the things he talked about and just started listening to that podcast all the time and eventually made a decision to buy the toolkit. And I knew this question would come up tonight. So up until now I've always just kind of guessed at the timing of things. And I actually did some research today so I could give real answers here. So I bought the toolkit December 1st of 2014.

Oh, nice.

And I sent out my first mailer in January of 2015. And then I think, let's see here. So my first boot camp was June 2015 in Orlando. And at that point had just, I think I Just purchased a property either just after that boot boot camp or just before. And it wasn't till later that September that I actually sold that property. But so I was just kind of. I was working a full time job. I was just kind of testing the waters, honestly. So I was doing a little bit of mailing. I was doing it in an area I shouldn't have been doing it in, but it's how I felt comfortable. And, you know, I was doing that through most of 2015, just, you know, little bits of mailing, just kind of testing the waters. You know, can I buy property? Can I sell it? And as I said, you know, I bought one probably middle of 2015, and then I bought, I think, another five through, I don't know, third quarter, 2015. And from there, you know, after that sale, which was in, I think, September of 2015, you know, I had seen everything go full circle. So at that point I'm like, all right, you know, this, this works. And that happened to be like a big cash sale, around $10,000. I made probably 7 or $8,000 on that transaction. And that felt really good. So I'm like, this is great. I'm gonna keep exploring this. And there was another boot camp coming up in Orlando, and I liked Orlando because I could drive there. And I lived in Florida for about eight years prior to moving to Tennessee. So I thought, well, I'll go back to that, that next boot camp. And I think, I don't know if it was in January or when it was, but early 2016, there was another one in Orlando. And so I went back, had a. Had a little bit of sales under my belt, you know, few buys, and I was just back to kind of get more information, right? And at this point, it had just all been the toolkit. Just kind of teaching myself, right? We did have the Facebook group, but it was really small. I think it was just a couple hundred people, maybe at most. And so I went back to bootcamp and at the end of boot camp, I'm like, all right, I'm really going to take this seriously and I'm going to spend the next 12 months and I set a goal for myself that I was going to make 100,000 in profit. And so, you know, I left boot camp and that was my goal. And I actually, I sent Mark a note and I told him, you know, this is my goal. This is what I'm going to do, you know, with the information I've learned from the toolkit and from being at boot camp. And so I took that next 12 months. And I bought and sold a lot of property. And I actually met that goal. At the very end of the year, I reached 100,000 in profit. And that was all just me working at nights, working on the weekends, making some sacrifices, obviously. But it was something that I felt was worthwhile. I saw a potential future in it. And from there, around the beginning of 2017, I started coaching. I joined the coaching program and kind of jumped right in. And through being coached, we reset my goal for the next quarter, which was three months, obviously to do another 100,000 in profit. And that was obviously a pretty big goal. But through coaching and working with my coach and just, you know, doing the same thing, hard work and spending the time on it, I was able to meet that goal as well. From that point on, you know, it's just been great. You know, I learned so much through coaching efficiencies and just, you know, better ways of doing things and kind of managing everything.

So.

Yeah. And then later went on to become a coach. And the beginning of 2018 is when I quit my job. And I've been doing land investing full time since then. I still do some graphic design just on a retainer basis, so I still enjoy doing that. But I really like the land stuff as well. So it's been great.

That's awesome. That's a, you know, that's a perfect example of what. What a slow. What a slow turn. This is right? To use Matt Forbes words like, you know, you started in December of 2014, but you just kept persisting, you kept doing the work, you kept moving your feet, you. You kept setting goals for yourself and got to the point where just three years later, three years and one month later, you were able to quit your job. I mean, that's a phenomenal example of what this whole business model can do for people. And I think it's very representative also of a kind of a realistic time frame for this as well. Some people get into this thinking, you know, a year out, I'm going to be good to go. I mean, it's, you know, I think maybe that's a possibility if you're doing it full time. You know, Scott Todd was a little different because he got into this. He was kind of forced into this full time and look what happened. But, you know, for you, Eric, and for myself, this was kind of a side hustle to begin with. But even if it's a side hustle working for three years, look what can happen. That's awesome.

Yeah. I mean, it really just came down to diligence. So, you know, I, I spent a couple hours, you know, every night, and I just, I kept working at it, you know, and, and I knew that, that I had set that goal for myself and, and I was just gonna do what it took to get there. So, you know, if that meant two hours every night after the kids go to bed, then, you know, that's what, you know, I committed to do. So.

We get a question from the Facebook group, says, this is Tony. Can you really scale this into something big without a continuous hustle, or is this a stepping stone? So, not sure how to interpret that. I wonder, you know, to me it's, you know, continuous hustle. I think with, you know, continuous hustle could be also translated to me as continuous effort. I think that you've already identified, right, Eric, that, you know, you really wanted this and you, you know, there were some late nights, early mornings or whatnot in the beginning to get yourself to that point. So I don't know what he means by stepping stone, but I mean, I think I would agree this is without, without a continuous hustle. I mean, there's got to be. I guess I'll put it this way and maybe you could elaborate, Eric. There's certain things that have to happen, right, Continually. If they don't happen, the business won't move forward. Now that doesn't mean it has to be all day, every day. It just has to mean that there's. These are consistently happening. So what do you feel about that in terms of the, you know, the amount of commitment it takes to bring this business forward? You know, progressively get better at it, make bigger deals, make more money, so on and so forth? You know, is it. Does it have to be a day to day thing? Oh, how much work you have to do once you have the VAs doing all the work? Okay, so he's talking about once the. Once you, once you already had the VAs doing the work. All right, so why rephrase it then? You've got some VAs, obviously doing work. How much of a hustle is now to keep the machine moving, that you have VAs in certain spots, you have processes, you have obviously automation and delegation. What kind of hustle do you have to put into it now to keep this machine rolling forward?

So, you know, myself, I still spend a decent amount of time on the business. You know, I'm not. I don't have a team that does every element of my business. So I would guess I probably spend, I don't know, working on the business. Maybe couple Two, three hours a day. But I think that it really comes down to what you want to do, I believe. I mean, you can build a team to do every aspect of this business. Now, there are certain areas where it might not make sense to have a team doing that particular task or function until you've reached a certain point in the business. Sales is a prime example. We talk about this a lot. You know, a lot of people want to hire out the sales early on, but the reality of that matter is that you've got to have enough volume to be able to pay that salesperson on a commission basis and keep them fed. So, you know, you've got to be doing enough deals that you can manage that.

Right?

But just about every other area, I mean, you can outsource, and it doesn't take that much of your time. You know, it. It will take you some time to train those people and set up the right processes in order to teach them what they need to do and the way you want it done. However, once they're up and running.

Your.

Interaction can be fairly minuscule, you know, and just, Just be the manager, you know, come in and say, you know, I need a list for. For these counties. You know, here's my criteria, here's how to price it. Or, I need you to market these particular properties this week and really push these hard. And if you've trained your team, you have the resources in place that they have what they need to do the work. It can be as simple as that.

Awesome. Great answer. I entirely agree with that.

And it's amazing, too, how, you know, some of these processes, it just takes. Once you learn how to do them, which takes hours upon hours upon hours, and you're doing it yourself in your own micro environment, you know, you can get to the point where you improve your efficiency, to the point where you can teach somebody how to do it in just a matter of minutes. And for me, it's kind of interesting because the. The notion of teaching somebody is almost like. It's almost like this really big burden. But then when I sit down at the computer and I, like, map it out and 45 minutes later I have it all done and I'm able to pass it off to somebody. I'm like, scott, why was that such a big deal? Why have you been waiting so long to do this? It's kind of. What? I don't know. It's an interesting thing. It's this interesting. Maybe I'm hesitant to hand it off or whatnot, but it's. Once you learn how to do it. Once you get the mentorship to show you how to do it, and then you map it all out and you systematize it, and you train somebody how to do it, it actually becomes more easy as you go.

So I don't know.

Something I've noticed.

Okay, what do you think? Should we bring up. My cup's empty. You guys ready?

Yeah. My cup's empty, too, so let's. Should we bring up Matt Forbes? Let's do it. Yep.

Did you hear that?

Wait, did you hear that? Should we bring up Matt Forbes?

Yep.

Yep. Yeah, we should bring up Matt Forbes.

Look, I found an appropriate hat.

I like a better back with man.

Okay. All right.

Oh, it's a John Deere John Dea hat. Hey, Matt, could you. Before you. Before you do the refill, could you show us your elbows, please? Okay.

So I don't know what kind of.

Halloween costume Eric and Mike and Scott are wearing, but I wear this all the time. Like, this is.

Prove we're not wearing the same shirt.

Yeah. Yeah, my elbows are good, too. I just embarrassed my wife to no end. She's been trying to.

I bet she loves it. Poor Anne Marie.

This blood oath is taking a beating.

Look at that.

Like a week old.

Just go ahead and make fun of my Canadian whiskey. I know you want to.

What do you got there, Eric? What are we filming with?

I've got some Kentucky owl rye tonight.

Ooh, very nice. And let's go back to Eric or, sorry, to Scott. What are you drinking?

Crown Royal for the Canadians.

What are you got there, man?

Why is that so funny?

A real thing. You know, Raise it up. Pour yourself a glass.

It was a gift. It came in the blue bag.

Go, Page.

Yellow tassels. Go, Pats.

The yellow tassels might have been a clue. Bosman. I don't know.

Football team. For all you guys that don't know Pats.

Eric, I got a question for you. Since you're a fellow Cubs fan, who are you rooting for now in the playoffs since the Cubbies disappointed us, so.

So it's interesting. I told my son, who's my youngest son, who's also a big Cubs fan, I said, after they lost, I said, well, I think I want the brewers to win it all. And he's like, the Brewers?

You can't do that.

You know, they're. But I just. I feel like they're. They're such a great team, especially at the end of the season here. I mean, the Cubs just. It fell apart.

Yeah.

And the brewers just. I mean, they really turned it on at the end. And, you know, I want to see them go all the way.

I'd like to see the Brewers, Red Sox. That's what I like to see.

Yeah, I'd like to see the Red Sox beat the Brewers. Sounds lovely.

Yeah.

Go Boston. Just waiting for Xander to talk.

No, I'm going to ask. I want.

You're not a sports guy.

I'd rather ask Eric a couple quick questions.

All right.

Get to know Eric. Session ready.

Get to know Eric. I like that.

Get to know Eric.

New segment.

Get to know Eric. Eric, real quick now. Favorite ice cream?

Mint chip.

Wow. Favorite movie chip.

Oh, man. Maybe like the Bourne trilogy.

Ice.

Favorite book?

Business book.

Any book.

Any book.

Oh, my God.

I'll just. I'll go with a business book. And I'd say Rich dad, Poor Dad. I think it's a great book for people to kind of start off with. And in entering the real estate arena.

Nice. Favorite color?

Blue.

Fairly Angry Guy.

You can't do that.

Let's just ask you. Fairly angry Guy, just north of Boston on the Hampshire border.

Who's the most fun to talk to on Voxer? Maybe we could say that.

Who's the most fun to talk to, Voxer?

That would be you, Mike.

Of course it would be Mike Zano. I would second that. Can you understand what I say?

What the hell did you just say? Mike?

Yeah, I can't understand him half the time, so I'm like. Could you repeat that, please? Not quite sure what you said. Which is a great segue into my favorite segment.

This one. Crash and burn two weeks ago.

What's that?

This one did a crash and burn two weeks ago.

It did crash and burn two weeks ago, but it's only crash and burn once out of a thousand times. That's pretty cool. Let's segue into the Boston leg of segment.

Yeah, yeah.

Love the Boston Lego segment. This is the favorite of all time.

The Cheetah. Don't play cards with a cheetah.

The Cheetah.

The Cheetah.

Never play cards with a cheetah.

With the cheetah. So, Eric, I should add you to this tonight, but this is.

We can have Eric play. Maybe Eric will say it the right way, like we do in New England.

You know what, Eric? Can you see the chat? Okay, I'm gonna send over the word to you. All right, so this, people, is the segment where we learn a new Bostonian word. A word that is commonly mispronounced by Bostonites.

You mean the rest of the country? Anyway, here's what's gonna happen.

Eric's going to spell a word for you, and you're going to repeat that word back to us. We ready?

All right, you ready, Mike? You want to write it down?

I'm right here.

All right. It's G, A, R, D, E, N. Garden, garden, garden.

It's a freaking garden. What's the problem, Peterson?

Where do you get your tomatoes? In the garden. In the garden.

It's the G, G, A, H, garden, D, E, N. There you go. You, once again, you proved me right. Mike Zano, I appreciate it.

You got an interesting question, Eric, what would you think of this question? I'm gonna read it. With $100,000 starting cash and working 20 hours a week, what could one expect to be netting 24 months after starting on average? So that's a pretty a lot. It's a pretty detailed question. I know it could be answered a lot of different ways. So I'm not, you know, what would your initial reaction to that? Okay, someone's got 100k cash ready to invest. They want to use land as the medium investing. They're going to learn how to do this. They're going to work 20 hours a week. They want to go two years in. What could we expect to make it? And he's not saying, let's talk about a monthly passive income maybe, I don't know, or he didn't really specify, but, you know, could I make 10 grand a month? Could I make 5 grand a month? Could I make 20 grand a month? What, you know, I don't know. What would be reasonable? What would your thoughts be?

That's a, that's a tough question.

I'm hitting you with a tough one. I agree.

I think, first of all, it all depends on how you spend that hundred thousand.

Okay.

If you go out and you buy $100,000 property, or you go buy two $50,000 properties, or you go buy, you know, the rural land that, that we're all buying, you know, at maybe a few hundred dollars, maybe a couple thousand dollars of property, that's going to get you a lot of property. So in 24 months.

It's a tough.

One because it's a lot of variables.

There's so many variables. And I feel like I want to pull out an Excel spreadsheet and start to, you know, work on the numbers. I don't know unless I do that honestly, but I think the right way to utilize that kind of money over a two year time frame would be to invest it in smaller properties in counties where you can flip that land quickly. So that means going deep into the county research before you even start. Okay. Looking at things like, you know, obviously our other land investors there, but what else is going on there? How fast are property selling, et cetera, et cetera, and really finding those right areas to do that in. And then, you know, I mean, the other factor there is if those are all on terms, you know, it's going to take you some time to recoup that capital, to be able to reinvest it. So are you going to be selling notes to recoup that capital? You know, will you get some cash sales? There's so many variables there. I, I don't know how else to answer it.

Right.

Let's. Let's have Zaino take it. Let's have Zaino take a shot at that one. So, Mike Zaino, using the model, using the model that you use the first year in this land business.

Yeah. So what I did in the first year is I made lots of cash flips. So basically buying something and just doubling my money. So if I had 100,000 a year, that would be 200,000. I mean, really bought properties and double my money on them. And that can be done. Now, Eric's right. You can enter this at any price point. Right. You could go buy the $100,000 property. But the reality is properties of that size tend to take a lot longer to sell. Right. And we're. The way that he's saying it about netting on average, I'm pretty sure he's talking about passive income. Right. So again, we're in a micro environment. Really. The big bang for our buck is What Eric said, 200 to $2,000. Get your money back within 10 months. We're selling for 102$300 a month payments. So, you know, if you really were to apply that kind of money and buy the right property and invest in the, in the process, then yeah, you could easily be doing 10k a month. You could probably be doing more than that. Right. I don't. And that's. It's just a matter of having the money is not the answer. I'll tell you that right now because I came to this business was with negative $40,000. Having the money doesn't bring the biggest, you know, biggest. It's not the biggest component to your success because you have to have the, you know, the overall consistency, the effort in the right areas. You know, this isn't where something just come and plug and play. Take $100,000, plug it in and There you go. You have to, you know, really know how to put that money in the right place. How to work the different five areas of our business, right? How to work those five areas consistently. So I don't think that, you know, I think someone, you have the hundred thousand, right? But, you know, I think someone could start off with 10,000 and end up in the same place, someone with 100,000, honestly. Because it's a matter of just, you know, rinse, repeat, rinse, repeat, and we're in a micro environment. You know, you would have the ability to. I would say if I had a hundred thousand, I'd buy a couple of bigger end properties that are gonna flip, make me some sick cash, and I'd also buy a bunch that's gonna make me a bunch of passive income. I put the two together. If I had that kind of capital to start with, right, I would buy some properties for maybe 10, 15, 20,000 to buy a. I'd buy a little, half a dozen of those and I'd buy a ton of little ones and make the passive income and those other ones would sell and I would put it all together and I'd, I'd make a ton of money, right? That's how I would do that. But the money isn't the biggest equation here, really. It's the consistency. So it's, you know, I can't just say because you have that much money and you have. And even when you're working 20 hours a week, you can work 20 hours a week, honestly. And if you're not focused on a couple things that move this business forward, someone who's working five hours could be doing more than you. So that's why we really always. Honestly, not because of which I'm going to be like, hey, you know, sell our product to flight school. But flight school is created for a reason. It takes you and it scales your efforts. It allows you to do something in less time so that you don't take these 20 hours and do something that someone else could do in a focused five hours. So a lot of variables, as Eric pointed out, but it's not a bad thing to have 100k to invest, right? Just saying that this is not the be all, end all answer.

Yeah, I guess I would add to that too. I mean, I think it would take at least six months, maybe 12 months to build up all those systems to hire in VAS and different teams to do those different functions of the business. I mean, you'd be spending the majority of that 20 hours a week, you know, Know, building your systems and building teams so that, you know, this is a machine. Because if you're. If you've got that kind of money to invest in this, you're going to take on a lot of inventory quickly. So first of all, you got to make sure you're buying it right. Don't, you know, just because you've got a, you know, a lot of cash to work with, it's easy to get reckless with that. So you still want to be really conservative in what you buy and what you pay, but it's going to take some time to build out that machine and, you know, get it up and running the way you want it.

Agree completely, boss man.

What's up?

Anything to add?

What's that?

Anything to add? What do you think? Look at the hat. I just recognize it.

Yeah, I flipped it. I flipped it. Should we do a Facebook quote of the week? Let's do it. Facebook quote. All right, so here we go. This is from. Let's see. Let's use. This is from Ann Marie. This was a couple weeks ago. I have a seller who, before calling about me. Sorry. I have a seller who, before calling me about my letter, actually called the county assessor to get information on the property so that when she did talk to me, she could claim the assessed values, which, of course, are more than my low offer.

I love it.

I'm thinking of a couple ways to spin my offer amount. But is there any tried and true response you give to sellers who are requesting the assessed value price?

Of course.

Of course.

Eric, what would you do? Assessed value. Come on, Eric. You want to pay me 500? The assessed value is 850.

What?

Why do I have to.

I mean, I just. I mean, I don't laugh at them, but I just kind of say, like, hey, you know, the assessed value, what does it really mean? You know, I mean, it's. It's for collecting your taxes, but it has nothing to do with the market. You know, it. I mean, you can ask like, hey, do you want to sell your house for the assessed value? It's probably much lower than the actual market price for the property, for the house. You know, I mean, I just. Honestly, I just don't really get into it. It's like, well, you know, my offer is 500 or whatever it is, and if that doesn't work for you, I'm sorry. You know, I understand, but, you know, I'm not going to be able to buy this property.

Yeah, very true. I think the reality is people need to understand this assessed value there's taxable value, whatever. There's market value. We're dealing with market value, right? And I always believe in full transparency. It's like, listen, you know, let me tell you a little bit about what I do, and I'll even tell them straight out, right? I'm gonna sell this to somebody. They're gonna pay me small amount of money over a long period of time. In fact, you should do that. And they're like, oh, they don't want to do that. You know, it's like, well, what I could do is offer you quick cash. There's no worries, no concerns. I handle all the paperwork. I take care of the back taxes money to you. All you got to do is sign the deed and send it over to me. So, yeah, I think it's right. Eric's right. You know, I don't laugh at them, but you really educate them to the fact that that assessment. Unless the only time I ever looked at assessed value is if, in fact, sometimes, ironically, it lines up with my offer, and I'll be like, yeah, look at them. I'd actually bring it up. I'm offering you assessed value. But that doesn't always happen, right? But occasionally it does.

Good points, fellas. Good points. I would agree. I would agree with those snippets.

All right, well, what do you think, Scott? We got anything?

Well, we got another. We got another question.

We got questions.

Terra Spec Terespec. Who? Congrats. Congrats again, Tara. You guys are starting flight school here in a couple weeks, so I'm excited for you guys. Challenge right now is on the sell side. They have a property already. That's awesome. They've been promoting on Craigslist, Facebook, and Land Moto over the last three weeks without a peep. The parcel is in Izard County, Arkansas. After three weeks, would you suggest being a little more patient, or do you think a drop in price would be appropriate? At what point do you turn ebay?

Yeah, Eric, what do you think? Three weeks in? Should go crazy on that price change.

So, first of all, there's some very key missing information there. I understand their marketing on Craigslist, Facebook, and Lan Moto, but how often. How many ads are going out on Craigslist? How many ads are going on Facebook? If that's, you know, an ad you posted last week and you're just waiting for someone to reply, that's not enough. On Craigslist, we like to talk about about 50 leads per sale. So in order to get 50 leads from Craigslist ads that's not posting 50 ads, that's posting 200 ads. Okay. So, you know, that's. That's a major factor in your marketing. I mean, you really have to put way more ads out there than you really think you need to. So. And then you also have to listen to the market. If you're doing all the things and you're putting out enough ads, then you have to start to look at what is the content of your ads, who are you marketing to, how is your pricing, how does it line up to the other properties in the area? And there's a lot of questions to ask yourself there before you need to consider liquidating the property. There's. I mean, there's nothing wrong with liquidating it, but, you know, I think that. And by liquidating, I mean putting it on ebay, I think it's. It's way too early for that in this situation. You really need to make sure you're getting a large quantity of ads. And the other thing is too, like, especially with Craigslist, it takes time. So even if you put out 30 ads today for a given property, it might take a week or two weeks till all of a sudden you get a flood of responses to those ads. I mean, you might get one or two today potentially, but more often than not, it comes later as those ads kind of get old and they're hanging out there on Craigslist for a while, then all of a sudden, for whatever reason, and I think it's probably honestly that they start to come up in Google searches. Once they've been out there long enough, people start finding them and they start replying. So it's about quantity, and it's also about just listening to the market and just being patient, too.

Yeah, I like that. And she put down four ads a week. So I. If it's four ads a week, then, you know, basically. Right on. Tiger with Eric just said really to ramp them up. I mean, because to get the requisite number of leads at four ads a week, it's going to take a long time, honestly.

Yeah.

And you know, a tip I would add there if Izard County, Arkansas, if you look at the tax roll and you see that maybe 20, 30% of those landowners, the ones outside of Arkansas, are all in, I don't know, Chicago or wherever they might be, Memphis, I don't know, make sure you're marketing in those areas. So, you know, dig into that as well. So don't just market, you know, around Izard County.

Yeah, that's great advice. I mean, people in Omaha Nebraska. Love Colorado land. So make sure you're, you know, marketing in other areas where there seem to be those trends. That's great, Great advice.

I will jump in and I'll tell you, as the resident new guy, right, That I got my first offer accepted today. The guy didn't sign, though. You didn't sign anything, so it doesn't count. I'm a sales guy. Show me the docusign, and I'll show you a deal. But it's been 10 Craigslist posts a day, plus all sorts of Facebook, and it's been, you know, it's now been three, four weeks. And it's random, right? What I've realized in the last two weeks is we suck at writing ads. I mean, I tried the sexy thing from Barbara. I get, how is land sexy? And I write back, I go, how is it not sexy? I don't have any neighbors out here. Are you kidding me? And I got a guy who goes. He came back and said, look, you know, that's what I'm looking for, right? I want to not have neighbors. And I'm like, all right, that one thing resonated for that guy. So when you're new and I'm new, we suck at everything. We don't put enough ads out. We. We kind of suck at the copy of the ads. We don't know what's gonna work, and we have no faith that this is gonna go. But you look at the other three guys on this screen, and, like, it works. You just have to sit there and make your wife write the ads and post like I do.

Is that wrong? Is that wrong?

Shouldn't have said that.

Anne Marie, we love you.

Here's a. One final question, then we're gonna sign off.

It's from.

Let's see, where is it? I just had it. It was saying Zach Tucker was talking about he sent his first mailing. A little bit nervous about getting those first calls. Any advice, Eric? Getting those first calls from potential sellers. You know, the person calls you back, got your letter in the mail. I think I want to sell to you. Tell me what's going on. I mean, any potent. Any advice for those first few accepted and counteroffer calls?

So the phone part of this business was the part that scared me the most as I was beginning. I'm not a person that likes to talk to people. I don't know. You know, I'm introverted. I just. You know, I'm happy to just hang out here at home in my office and not talk to anyone. And so that. That made me. When I was just starting, I was like, I don't know if this is going to work. I don't know if I can do that. I had tried in the design field to have my own business and go out and sell my services. I just couldn't do it. You know, I just. I didn't have the motivation and I didn't have.

The.

I don't know, like, it just wasn't for me. So I was nervous about that going into this. So all that to say, you know, once those calls start coming in and you actually talk to those people and not the ones that are upset. I mean, the ones that are upset, it's good practice to talk to them, too, and just kind of try to calm them down and let them know that it's not a big deal. If they're upset, like, no problem. Just throw away the offer. Like, I'm sorry, I didn't mean to offend you, and move on. But the ones that want to sell, they're so easy to talk to, and they want to tell you about why they have this land and that their husband bought it and he passed away, and it's a burden for them now. They got to keep paying the taxes, and they don't really know what to do with it. No realtor wants to sell it for them and all this stuff. And you start to realize how more often than not, that you're offering to help out these people and really make things easy for them. You know, you do all the work, you prepare all the documents. All they need to do is take it to the bank and sign it in front of a notary. I mean, it couldn't be any easier for them. If there's back taxes, you're going to take care of those. They don't have to worry about that. And it's just. Just be friendly. Just talk to them. You know, it's a real person on the other end of the phone. And there's. There's a situation there, a reason why they're interested in selling and they're reaching out to you. And it's. It's something that myself, I've. I've gotten way more comfortable with than I ever thought I would have been based on my personality and kind of who I was coming into this. So I just say, like, just don't be afraid to talk to him. You know, that's it. You know, Answer the phone and just talk to him. Yes, when you answer the phone, you're gonna get one. That's. That's mad and yelling at you. Just don't let it get to you. Just apologize, be super nice, and move on.

I love it.

Yes.

So as the resident professional sales guy on this call, two things. Let them confess. It's a word we use in sales. They want to talk to you. They want to tell you their story. Eric's right. Let them confess, and when they do, they'll give you all the keys you need to get that land because you're just helping them. Right? You have two ears and one mouth. Use them in that proportion. There's an old saying, I like me best when I'm talking about me. I'm telling you. I mean, this is. You could sell anything. Let them talk about themselves. Let them confess, and you'll be fine. And if you piss somebody off, it just means you're doing it right.

On that note, that was awesome, Matt. That was very good. But it's so much truth in that you let people talk about themselves and their situation. They will be sending you thank you cards in the mail for taking their land away from them.

Yep.

That's awesome.

All right, well, I think. Great show. Eric. Thank you so much for coming on. Let us give you a little grilling. Matt, thanks for being here, as always.

Sure.

Scott's a spot we got.

Do you have a toast tonight?

I thought this was the part where you thanked me. I thank the guests. Joe Zano, I thank the guest. You thank me, then I thank you. Isn't that the way it works?

Yeah, but my question is, after all, the thanking is done, do you have a toast for tonight? I sang the Oktoberfest host.

I'm not gonna make up something.

It's your turn.

Okay. Are you gonna thank me?

I'll thank you after the toast.

Oh, man, it's brutal. Let me cue the outro.

First, I'd like to thank Laura Zaino for supporting Mike throughout all of this.

Talk amongst yourselves while I pull up the outro.

Listen.

Talk amongst yourselves.

Thank you all for coming. And my toast is to good friends and good times and taking those phone calls to people who don't like you, because guess what? Some of them will sell land to you. Just take those calls, guys. Come on. Laura hated it, too, in the beginning. But you know what? It's not that difficult. Like Eric said, you just answer the phone if you don't like that. On the sell side. On the buy side, get Google Voice. Listen to the voicemail. Don't call back the angry ones. Call back the happy ones. Be done with it. Salute to everybody. Thank you so much for coming. Scott Bosman. Thank you.

Thank you, my friend.

Oh, thank you.

3823. Go Patriots.

Go Patriots.

Thanks, guys.

Eric, we'll see you.

All right.

Awesome.

Go, Baggers. Sam.