Nite Cap with The Land Geek Guys—Deal Flow Solves Everything

Michael.

Someday I'm gonna have that swivel time correctly.

Someday, someday, Someday you're gonna get that right. How you doing, Mike?

I'm doing good. Every time we say something now, it reminds me of songs. Ever since that great episode that we had, I think I was thinking.

Oh, Nightcap, the musical from.

Yeah. When you said someday, I was thinking of Toto. Isn't there a song Someday I'll. I'm trying to think of it. If I give you a couple words, can you sing it? Come waiting. I forget it anyway.

I don't know. I'm not sure.

That's okay, Scott.

We'll have another musical version soon. That was August 30, by the way, if anyone wants to watch that video, that was an amazing show.

And we ought to label them so they could find them easier. Right now, I was made aware that it's difficult to find the past episodes because you have to actually search my name right now, which you would think you could just search the word night gap. So we're going to make that easier. We're going to make it easier to see the archived shows.

Exactly. And we should probably introduce ourselves to any new. Ourselves to any new listeners that definitely are new listeners. Always so. Hey, Martin. How you doing? So we are. We are the Land Geek guys. And this is Nightcap with the Language guys. This started, I don't know, what, six months ago, Seven months ago.

A long time.

It has been a long time. We got, like 300 episodes out. We're on. We're streaming on Netflix. This is.

Yeah, we're on Netflix Red, right. Right next to the Cobra kai.

Oh, that's YouTube.

Oh, that's right.

I'm sorry, but totally, this is our excuse for getting together. To have a drink once a week and to talk all things land investing and some things not land investing. But. And we apologize, we were not here a week ago because there was some selfish shellfish that took us out of the equation.

Somebody should never eat 20. What are they called? Oysters again? That'll be me done.

20 oysters in one setting.

Yeah, but that's. Come to find out that's not a lot for some people who love seafood, but for me, it was a bit overwhelming.

That's not a lot.

Hey, what are you drinking tonight for our episode?

That is not a lot. Not a lot. I am having the old, you know, the Crown Royal. See it up here?

You know something?

I know you're a little bit fancier than I am.

Someday I need to try the crab.

But wait, before You. Damn it.

I didn't do it. I didn't do it.

Before you steal my thunder, I would like to have. I would like to give a shout out to all of our Canadian friends out there because this is a Canadian whiskey. And did you know, Mike, that you can do this business from Canada?

I know people who are doing this business in Canada, actually, and they're doing it very successfully.

Say the word Canada again.

Canada.

Okay, because earlier you said Canada.

Let's just take a look at. And this is an honor. Eric Peterson, because he drinks the same whiskey as I do. The blood oath.

Eric Peterson drinks that he does.

Eric, are you on here? I hope you're having some of the blood oath this evening because he hadn't opened his yet. It's actually quite amazing.

How is the blood oath?

It's really good.

I. I gotta check that out. That. That looks. All right, listen, I'm showing you up next week. You're going down.

All right, well, listen, we're here to talk about land investing, but every week we pick a subject. Do we have a subject matter for the evening?

Well, of course we do. We're always prepared with. With a subject to talk about tonight. Well, I think you should hold the sign up because this is a big deal.

Like, I apologize. My office has been getting relocated. This is now we're officially in Zeeland Cafe. And that's where the Capital Z Land Cafe, that's with a capital Z. Our new office is our. We did a whole floor over and it's Z Land Cafe. And one of the signs in the Zeeland Cafe. Oh, boy, it's huge sign. Can you read that?

Deal flow solves everything.

It does.

That's what we're talking about tonight. We're going deep into deal flow.

It's funny you say deep because I equate deal flow. Like, you know, I was trying to describe it to my son, right? I have a 24 year old and he's really getting a foothold in the business and just trying to tell them about this whole deal flow process because sometimes people actually say, well, what the heck is deal flow? I mean, you know, if you're new to the business or even if you're in the business for a while, I mean, sometimes. I remember when we first started years ago, Mark would always talk about deal flow. And I'm like scratching my head, like, what the heck is deal flow? Right? But I like to think of, like, if you had this kind of like, pond right at the bottom of the pond, or any kind of body of Water.

Let's just call it a pond.

You have these little bubbles down at the bottom, right? And these are representations of your mandlings. Like, lots of mailings bring lots of these little bub, right? And then what happens is they start to rise up, those your accepted offers, your counteroffers. But sometimes you may have taxes too high. Boom, that bubble gets swiped aside. Sometimes it might be probate issues. Boom, that bubble gets spiked aside. But every so often, one makes it to the top, pops up top, and now you have a deal. But the only way to get that is by massively mailing. So you got to have lots. And listen, I want to start this off by saying one thing. Can I. Is it okay?

Yes. Say more than one thing.

Not every mailing I've ever sent is to knock it out of the park. And, you know, we talk about this 3 to 5%. That's cumulative over time. That's because we consistently mail. But there are some mailings I've had that have flopped and some that have generated more than I expected. But it's a consistent process. So you continually tweaking, learning, adjusting prices is my offer. The market changes. Mimi Schmidt, one of the roundtables, recently said, hey, I had to look because some of the prices that I was offering years ago have completely changed over two years. I have to offer my price even higher now. She has to stay in tune with the market. As Eric Jotnot Peters would say, the guitar tune with the market.

Yes.

Sorry.

No, that's all good, dude. That was all good. Okay, that's enough. We'll see you next week.

Is anybody even watching?

Yeah, we got a bunch of watches. We got a bunch of watches.

Watches.

So, yeah, say, say hi, everyone, hit us with questions, and we will chat specifically, if you want to talk to us about deal flow, that would be awesome because that is our subject for tonight. But, yeah, deal flow. Like, you know, I got the toolkit three years ago, and one of the modules was more deal flow than you can handle. And I was like, more deal flow? What the heck does that mean? And open that baby up. And by the way, I need to give a shout out because we have a new and improved investor toolkit, Mike, and it is coming out in a matter of days. And Danielle Dybal has spent hours on this thing, and it looks phenomenal. It is a toolkit on steroids compared to three years ago. Mark Podolsky has redone all of the toolkit modules. It looks really phenomenal.

I feel like you need to sing that song again. To Danielle.

Or at least the first sweet Danielle. There you go.

If you don't know what he's talking about, go back to the episode where we have the songs continue.

Scott, August 30th. But the new investor toolkit interface is absolutely amazing. I am really impressed with how it looks, how it feels and the teachings in it. So if any of you are interested in this business, please contact Mike or I. Because Mike or me. Because the investors, it has stepped up significantly. And anyway, let's get back to deal flow. There in the investor toolkit, there's a module called more deals than you can handle. Deal flow, Right? And I'm like, what the heck is deal flow? Well, deal flow is basically it is your opportunity to move forward in this business. And it is those potential deals that will have an impact on your business and on your life to move you forward. Now, Mike, let's talk about the potential. Right. In order to get the potential deals, what are the main actions that need to occur to get those?

You trying to save completely?

Yes, that's what I'm trying to say.

Well, to start the deal flow, you have to mail. And I'm trying to see where you're headed with this. But after the mailing, you need to do.

But can I, can I, can I interject?

Please do.

Before the mailing, you have to be really, really careful with something. There is something that is really, really important that I think a lot of people this is. May they struggle a little bit because they'll send out some mailings and they won't get good responses. Why do you think that is?

Well, Scott, that was for punctuation. Listen, I call it the basics before the basics. Because Scott Todd talks about five components of our business. The mailing, right? The due diligence, the closing, the marketing, the sales. But that mailing component has pre basics, county research. There's something in this mailing plate that can't be overlooked. It's the county research. And county resurgence continually changes. Why am I out of focus? What happened?

I don't know. There we go.

I gotta stop moving so quickly.

Yes, you're moving so quick. You like the flash there over there.

For a minute that was like ninja mode. I won't do it again, I promise. So the county research. The county. As we already said in the beginning, the county research continually has to be updated. The market is not some stable, unchanging environment. It changes. You have to continually evaluate and see what's going on. Be in tune with it and adjust accordingly. That is huge. That is probably, arguably the most important part of our entire business model is county research.

And if you choose the wrong county to start, it can have huge implications because how many. Now, it's not, it's not a bad, it's not a completely bad thing to choose the wrong county to start because it is a learning experience. But how many people choose the wrong county to start and then they get frustrated and then they lose interest and then they put this on the back burner and it's gone, Right?

Yeah, that's true.

So county research is so important because if you don't start in the right county, you are making yourself vulnerable to stopping this.

Yeah. You need to realize that some counties, the acceptance rate is going to vary. Some counties, the market is changing quickly, more quickly than others. You just have to be in tune with it. But here's the thing. This first year in the business is going to define you. It's either going to make you or it's going to break you. So be in control of that. Stay consistent, continually reevaluate what you're doing with your office, continually reevaluate the county research and continually mail. That is it. It's the only way to really generate deal flow. And believe me, one good deal is going to make up for all these mailings. One deal. One deal.

That's exactly right. So. So Mike, give me some advice. So there, there was some posting today in some of the land geek Facebook groups about, you know, people who have been mailing and maybe they're struggling a little bit. Okay, so what advice would you give to these people?

I haven't seen posts yet, but I can tell you, if we're talking about.

Let me tell you, they just started mailing four to five weeks ago.

Okay.

And they're not getting the responses they want. So give some advice to people who are doing this in a new capacity and. Yeah, tell me what you think.

We were talking on the roundtable recently and Scott Todd was bringing up. This is more in regards to sales. Right. But it's the same thing in the mailing as a market will talk to you. Right. If you're getting no responses, that's a clear indication that something is going wrong with the offer pricing. Right. And you know, the pricing is continually evolving and changing. Right. So you know, you, maybe you up those, price the pricing or reevaluate the market. Reevaluate. Ours is a numbers game. Right. But it's a numbers game over time, as I said. Right. So you need to be consistent. But I would go back to that county research, go back and double check what you're looking at for comps. And here's the interesting thing. If you look and you see a land investor that's selling something for X amount of dollars, you have to know, is that a cash sale or is that a term sale? And you have to know, because sometimes a land investor may be very comfortable doubling their money. And if that's a cash sale and you look at that cash sale and then you offer 25% of that, then you're really offering too low.

Right.

When you look at the retail value as based upon maybe what other properties, if you look, you know, basically the average of other properties that are out there for sale, you know, retail and what they are, then you can begin to, you know, slice down to that 25%. But you got to know, you look at a person that's offering a term sale and you offer 25 cents on that dollar, you may be offering too much. Right. Because we make 6, 700%. So it's really, I mean, I'm not trying to overcomplicate it, but begin to evaluate whose comps you're using and look deeper into those. You know, I'm a wholesaler. I do a ton of wholesales, 170last year. You wouldn't want to take my numbers and divide by four, because that's not, you know, when I'm selling to somebody in wholesale, I might just double my money. So if you try to divide that by four, you're going to come really low. You just have to know whose comps you're using. Right. So that's part of county research. Who are the comps that, you know, whose comps are you utilizing and compare them and contrast them to other. So it's a very detailed process. Right. Again, not to overthink it either, because all we're trying to do is generate somebody to raise their hand as a motivated seller. And then the discussion begins. If I were to mail you, Scott, and you respond to me, I know you're a motivated seller. I know that I can get you to sell to me for a lower price because you're motivated. And I can come up with reasons why I would need to reduce my price. But first and foremost, I need to make that conversation happen.

Those are great points. Here's the other thing I would say, like, you do have to think a little bit about the economy. Like, we're in a good economy right now, right. So if you're looking at comps from two years ago, one year ago, they may not be indicative of the current market. And your pricing, if you based it on those things, might be a little bit off. Because in a good economy, the land is going to sell for more. In a bad economy, the land is going to sell for less. So that's another thing to think about. If you folks are sending out mailers, and let's say you've sent out a thousand mailers and you've gotten few responses, there's something off, the pricing is off, most likely. Maybe you're mailing. Maybe you're mailing the wrong people. Maybe you want. Maybe you want to mail some different people. I don't know. I will tell you that your response rate tells you if you're on or off in this market. And the market is so big, Mike, that I still think that 3 to 5% response rate tells you if you're right or wrong.

I agree. It's a continual, you know, just kind of adaptation as you go. Use your offer responses as an indicator of your offer price and continue to adapt and. And go forward. And. Yeah, I mean, it's. It's this first year again, it's going to make or break you. Don't be disillusioned by mailing out and not having as many accepted offers as you may have anticipated, because you may have. May be making a simple miscalculation and which is changing the offer response rate. But stick with it. Continually adjust. And you know, this business, like most businesses, reward those who stick with it with consistency.

That's totally right. Yes. All right, so let's. Let's hit the. Let's hit the group up for some comments. Comments and questions.

Okay, I throw something out real quick.

Yeah, of course you can.

Because I forgot to congratulate Jeannie and Kurt on their 31st anniversary yesterday. So I want to say it publicly today. Belated happy anniversary, 31st. Yeah, they're awesome. They're a fantastic couple. And I'm not sure if she's on tonight. Typically she's watching, but if not, I'm sure she'll catch it in the rerun. Jeannie and Kurt, I'm sorry, but belated happy 31st anniversary to an awesome couple.

That's awesome. That's. That's phenomenal, you guys. Congratulations. Chris Grassman says I've recently discovered how much I love deal flow. It's pretty great, if I'm being honest.

Yeah, deal flow is incredible.

This is from Jake Martin. Mike, y'. All. Do y'. All. I love that. Do y'. All. Why apostrophe. Why apostrophe all right. Do y' all use Mark's outline for Yalls mailers or create your own custom outline?

He's talking about the mailing letter, I believe, right?

Yeah, the mailing letter. Yeah.

Use that. Use the basic one that's in the toolkit, the one that's. If you're fortunate enough to be in flight school and have LG pass, the one that's got preloads, use that because that's all you need. It's fundamental, it's basic. People are going to see their name, the county, the offer price, and if they're motivated, they're going to contact you. Don't overthink that. Yes, we all use that.

Yes, we do. Kenny J. Case and says Casson. What are some good ways to pick a county, Mike?

Yeah, so I always go back to the fundamentals, right? Couple hours away from a major city, that's number one. We want to have people that are going to want to use this land, right? Two to four hours. Like I'm in Boston area. I have friends of mine that will drive four, six, seven, eight hours up into Maine to go to their log cabins, right? So that's striking distance from here. You need to have some property that's striking distance to a major or areas where people live and they will go so they will travel that far if they find the property that works for them. So that's number one. Be in that kind of low taxes, right? Someone's arrears in taxes or late in taxes over a few years, the burden is going to be very small, easy to overcome, but you still can be to identify them as a motivated seller because they have to delinquent taxes. You want to have a lot of land. It's a numbers game. It's a mathematical. A business is a mathematical equation. So a few hours away from a major city, low taxes, lots of land. You want to look out and see that grid paper from high school.

Where. Where is lots of land, Mike?

Lots of land is anywhere in the United States, but particularly this place is.

Look at.

It's no secret, right? Talking California, Texas, New Mexico, Arizona, Nevada, Florida. We're talking these big. Colorado, we're talking areas with big. I wish I had the link. I saw recently an article someone had posted how America uses their land. And there's just so much of it that's vacant, right? That's the thing. Don't feel pigeonholed into. We do tell people in the beginning, look where other land investors are going. Gets a clear indicator of the market, right? But Also go to flight school and learn how Scott Todd decides what's a good area. Right. Dig in deep into that and then go and use that model and find another area. It's very simple. I'm not trying to oversimplify it, but it is once you learn this method that Scott teaches that we all utilize. You can y'.

All.

We can all go out, dig in and find these other areas. We don't have to go to the ones. The toolkit has a secret county list. That's phenomenal. It's a great place to start. But what makes it a great county? Yes, we've done deals there. But beyond that, why do we go there in the first place? Learn that and begin to understand that the county research is the bedrock of what we do. Get ahold of that and then look and use that model and you'll be able to find any area in any place.

Total. That's great advice, Mike. I would add a couple things. Does the county have a good assessor website? Does the county have a good GIS website? Cool. Does the county have a list that is easily acquired? Is the county a simply file county?

Nice. That's a good one, right? I like that.

Mark Podolski only works in simply file counties.

Nice.

And. And have you worked in accounting, Mike, where you have to send in the. The by mail before.

Before we started, there was no digital recording. And I used to feel like I'd mail it out and come back. I feel like I'm back in high school or college. All red ink over it. You did this wrong. That's like, oh, paralysis by over analysis. Laura would have to take that. Let take the envelope out of my hand and go mail because I'd be looking at it, put it back, looking at it back, looking at it, put it back. Oh my God. Now I do simply file within an hour. I know if I did something wrong, they don't charge me. I fix it. Boom, done. No more red ink. No more red ink.

There are. There are counties I started in three there. There is a county I started in three years ago. I had some amazing deals there. But seriously, like the pain of sending the deed the county for recording and them sending it back to me saying I had this one thing wrong and me having to send it back to them again to get it rerecorded. Seriously?

Seriously.

Simply file county. It needs to be a simply file county.

Yeah, I mean, where county ease of access with the county. And here's the thing too. People struggle over list building and all that. So go to Flight school again? Because Scott Todd will show you he does it at boot camp. Frankensteining a list. I mean, there's no barrier to getting a list. No barrier. That should never be a sweat on your brow, ever.

I love that. That should never be a sweat on your brow.

I don't know how else to say it. I got.

Listen. Awesome.

I'm feeling parched. I got to bring them up.

I was just gonna say. Can I. Yeah, of course you can. It's time for. Wait, I got some. Wait, I got something here.

You getting technical on me?

No, I'm not getting technical at all. I'm. I'm trying to bring up the. It's time for the refill segment.

Nice.

With Matt Forbes. There he is.

Matt Forbes, Help me out.

Refill, refill.

How you doing?

I'm parched.

I need a cocktail.

Let's. Let's. Let's postpone the. The refill just for a second, because I have a son bringing me a whiskey round. Matt Forbes, are you looking forward to boot camp here in just four weeks?

I'm pumped. I'm so pumped. And here's the best part. No one knows this yet, but Mike agreed to bring that bottle of whiskey that I'm looking at so that we could drink it on the live nightcap. Oh, my God. Mike Zado, you're the best.

That's a great idea.

Oh, my God. What a great guy.

I'll just buy one down there.

Whiskey. Yeah.

We definitely need a live refill segment going on. We're just gonna pour shots. Gonna get ugly. Should be good.

Where's this round? I'm patched.

Oh, yeah, okay.

Sorry.

So, no, we're waiting for whiskey round.

I'm wa.

Did you put the order in yet?

It's fine here.

No, no.

Did you see these, by the way? Do you see these?

No, but were you calling the Crown Royal whiskey? Was that your idea? I don't think so.

Oh, seriously? Oh, man.

That's because you're selling that lot next to my lot for more money.

Selling my lot next to your lot.

Here I am, a lonely land investor, just getting my feet under myself, right? Like, doing my best. And what do I see from Aaron Bosman today? It's just 35 acres listed for, like, $3,000 more than my 10 acres.

That's not true.

Unbelievable. Bosman's a big guy. If you've never met him, he's about six two, But I'm six eight.

So welcome to you down at boot camp, big boy.

Oh, sure you are. Okay.

I am six Four.

In your heels. In your heels.

Hey, buddy. Thank you. I appreciate that.

Hey, look at that.

Thank you. I appreciate that. How tall is your dad?

Oh, he can't. Yeah, he can't hear us. Maybe if we yell louder, he'll be able to hear.

What'd you say? I missed that.

Oh. Oh, I couldn't hear us. Could he? Because you have that.

Oh, you couldn't hear us because I got.

Asked him to say hello to us, but he could hear us. Okay.

Oh, that was it. That was Alex.

Thanks.

Alex's birthday this weekend. 15. Hey. Hi, Laura. Hi, Laura. She's saying, cut you off, Mike. Cut you off. No, no.

Somebody give him some shots, Some shellfish. We got comments.

We got.

We got Barbara Thibodeau with comments. Yankees saying, y', all.

What's up, y'? All?

I say all y' all to my kids now. And they're like, are you're not from the South, Dad? I'm like, settle down. All right, let's make it. Let's make a drink here. What do we got here? Drinking scotch. Scott Bosman's drinking. No one really knows Santa.

What do you got there?

The blood.

Oh, Crown royal.

You're making my point, not yours. All right, Grab your whiskey.

Bring it on. Oh, it's mean tonight.

Look at that.

When you steal my clients.

Of course it is, big boy. Hey, cheers to everyone who's working hard out there.

You're so mean.

Thank you, Matt.

Nothing but love for you, baby. Yeah, right.

For the outro. We're gonna be soon.

Oh, I'm here. I'm here for you.

I'll be there for you. These five words, I swear to you, when you mail, I want. I can't do it right now.

Does anyone have any questions? Does anyone have any questions about deal flow? That's what I want to know. So. You know the biggest thing, Mike, is consistency with your mailing?

Yes.

How many times? How many times do we have to say it? It's all about consistency. It's all about numbers. It's all about repetition. It's all about just action. Don't make it too complicated. Keep it simple. Send out mailers. That's it.

I'm glad you didn't say it's all about that base.

It's all about that base.

It is consistent.

You had a song about this today. It's all about the deal. About the deal Deal flow, Right?

It is, really. Listen, deal flow brings proof of concept, right? We all, in the beginning of this business model, need proof of concepts. We all need Deal flow. We all need consistent mailing. If you're having a difficult time with the mailings and you're not getting the responses that you believe you should, please don't throw your chips in. Don't fold your cards. Keep going. Reevaluate the offer prices. Dig deeper into the county research. Change it up. Keep going. Right? This is something that works phenomenally well, this business model. It's not easy, although it's simple in its essence. Right. It's not easy because it takes the consistency. Mark always says, you know, there's gonna be times you get kicked in the teeth. Are you gonna get back up and keep rolling? Read Mark's book, Dirt Rich. You know what I think about that book? What's great about that book is that we have, all of us have these fuds, these fears and these uncertainty and these doubts. And Mark had those fears, those uncertainties and those doubts in the beginning, and he overcame them. So when you read the book, it's relatable. It's relatable to where you are now in the beginning. And just keep going, keep going. Because there's people going to come after you. They're going to crush this business, and they're going to do what Scott taught us. They're going to make 50k a month, and they're going to start after you. That means you can do it right now. So do it right now. Stay consistent.

Did you say 50k a month?

He revealed it on here. It's his numbers, not mine. He said it right here.

Four years.

Yes.

He's been doing this four years. Yeah. Here's a little. Here's a little bit more about the dip. We read the book the Dip by Seth Golden. Everybody hits a dip, right? You send out mailers, you're excited, you get no responses. There's a dip. You. You wait weeks and weeks and weeks. You get a. You get a few responses. You find out that two out of those three responses you're not able to purchase because of some issue, a probate issue, chain of title issue, whatever. There's a dip.

Right.

You're able to then purchase that one out of the three properties. Right. And you're very excited and you move forward and you purchase that property and then you start marketing that property. It just doesn't sell in two or three weeks. And there's a dip. Right? Right. It's just like you're moving forward and there are all these dips. But like I tell my patients all the time, Mildred, I know you're still hurting, but are you better than you were a month ago? Yes. For sure. Millie, do you have good days and bad days? Yes. You have good days and bad days, Good days and bad days. What matters is you are moving this direction like this. There is a dip here, here, here, here, here, here. As long as you're moving forward, that's what matters. So you got to look at your business every month. You got to say to yourself, every time, every month, every first of the month, am I better than I was a week, a month ago? If you can tell yourself, yes, you're on the right direction, you're moving in the right direction. If you say to yourself, you know what? Things aren't much different than a month ago. You got to change things. But there are dips along the way. As long as the trend is in an upward fashion, you're moving in the right direction.

See, I thought you were gonna segue into the theme song for Happy days.

Why?

Bad days, good days, Happy days. I think that would have been a great segue. Sunday.

Oh, my God. We need a segment. Laura. Laura Zana, we need a segment. You ready? Laura Zaina? What?

She's ready.

It's time for the Boston Lego.

She's watching it on live, which means it's a slight delay.

Laura Zano, it is time for the Boston lega segment. Boston lega.

Lega.

In this segment, Mike, we will learn a new Bostonian word. Either a word that is commonly mispronounced.

By the rest of the world or.

A slang word that none of us understand. I still have another slang word because I keep finding all of these commonly mispronounced words that I must say.

There are many times that we vox her that you write back and say, what'd you just say?

This is my favorite. This is my favorite.

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

Cheetah. Cheetah. It's my favorite. Okay, you ready? So this is what happens. I'm going to spell a word, and you are going to repeat the word back to me. Are you ready?

Yes.

Okay. M O R N I N G. Morning.

Morning. Morning.

Laura, you cheated. Mike, you say that.

Spell again.

M O R, N I N G.

Oh, you're gonna say morning. Morning. Morning.

Like you're morning someone.

Morning. Yeah, morning.

I thought you were gonna say morning. No.

Morning. Morning. No, the R actually comes in that morning.

Morning. That's how you say morning.

Here she come now. Singing, moaning, moaning.

Oh, God. You know what? That might be the first time ever I've been wrong. On the Boston Legacy segment, Scott might be the first time ever out of 20 segments.

We are unpredictable.

Morning.

Are there any more questions?

I don't think we have many questions. Oh, wait, Kenny. Jk. Oh, we already talked about that. Let's see. We don't have a lot of comments tonight. Let's see. You have to rely on the community to get through the dips. I will address that for a second. That was from Barbara Thibodeau, so. Barbara Thibodeau, I would totally agree with you compared. I. I can't even emphasize to you the importance of this community in my life. Without this community, I would not be where I am today. This community pushes you forward. There are amazing people in this group with all sorts of different backgrounds and talents. And I would not be where I am today without this community. Why are you laughing at me?

Would you say it's the wind beneath your wings?

Scott Todd is the wind beneath my wings.

That's Bette Midler.

Yeah, I know. You remember his song, though.

Yes.

He is the wind beneath our wings.

Look it. How many mailers do you both think you sent before you got your first deal? See, Matt Forbes is hooking us up with the questions here. How many mailers you think you sent before you get your first deal? From Jeremy, as he asked us, what do you think? I gotta. I got.

I got.

I got an answer. But you want to go first.

How many mailers did I send before I sent out my. Before I got my first deal? So maybe I got lucky. I don't know. I think I had sent probably 400 mailers out before I got my first deal.

I was thinking about this, that I actually. First deal I ever got was actually a wholesale deal. I didn't realize that for a while until. I mean, I didn't remember that for a while. So, you know, that's always a. I'm not going to listen. Mailing is the lifeblood of what we do. But sometimes wholesale could work too. And just everybody knows I've done a lot of wholesale. Treat a wholesale deal as an accepted offer. What does that mean? Treat a wholesale deal as an accepted offer? What do you think? I'm complete me, Scott, I have a wholesale deal presenting to you. You treat it as an accepted offer, meaning that, you know, do you still have to check into it? Are you just gonna. Implicitly. I mean, it's like if someone accepted your offer, then the real due diligence begins, right? That's wholesale too. Right? You need to look, dig deep into offering a property up. You look at it and say what? Well, is this really a good deal? Is this really a right price? Is it room for negotiation, so on and so forth. So wholesale is an option. Mailing's a lifeblood. But there are plenty of people make a lot of money off of buying wholesale deals. So it's another option. But then mailing for me, I don't know, 4 or 500. I got my first deal, nice little deal. I bought for 377, sold for $3,500.

So really, that was your first deal?

Yeah, it was my first deal. That was term sale, last deal, no terms. It was short term, term sale. But it was nice. It felt really good.

That's awesome. That, that was my, my first aha moment was like, you know, I bought my first property, I think six weeks after the tool, after I got the toolkit for 700 bucks and I sold it just a couple weeks later for 2,800.

Nice. Yeah. That when I bought wholesale, I bought for about 800, sold for about 2100 cash. So yeah, yeah, they're both pretty good deals to start out with.

But.

It'S just consistency, right? I mean, it's just consistency.

And here's the thing. If, if you have the drive, if you have the motivation you have to give, if you have the willpower to make this happen, I firmly believe, I really believe that it's just a numbers game. If you just send out the mailers, it will happen. You just have to take massive action.

If you build it, they will come.

If you build it, they will come. It really is.

What movie is that?

There's so Field of dreams, Kevin Costner, 1989. So.

I can't stop you when it comes to stuff like that. I love it. Unstoppable.

I. I see. It really is like if you just take action, it will happen.

Yes. Another question because we already answered the one about Mark outline. So the next one is I have a basket full of return to senders mail. What is the easiest way to get that into a tool like Intellios? Have been verified.

Gary Fraser Lee. I'm going to tell you right now, tell them. The first couple years that I was in this business, I was not using it. I was not using lob. Now with lob, there are many, there are many less return to centers. However, the first year and a half of this, fewer, far fewer, I was not using lob and I would get a lot of return to senders. Do you know what I would do? Like once a month, every Saturday morning I would go through that return to sender pile. And I would either remail those people or email those people with the email address I acquired from benverified.com and I can't tell you how many deals I picked up from those return to sender letters. Those are. What do you want to call those, Mike? Those are a yellow gold. Yellow gold.

Because they're yellow.

You're right. They're kind of a gold mine. Not really. But like how many people take the effort to sit to go through that pile of return to sender mailings on a Saturday morning? Not everyone.

I think he see this. I love what you're saying. And what I want to address is that he's saying the easiest way to get them in there. So not listen, the business, it was automation, delegation. The niche within our niche is the fact that we outsource this business. But in the beginning, don't be so quick to do that. Right? Like go through the fundamental processes yourself, feel it out, get an idea of how it works and then outsource it. You can always hire someone to do it. But in the beginning, really take those bold steps yourself. And if you only do a few times just to document how you do them and then get somebody else in.

There to do them. Yeah. And to answer your question, Gary, either tool is great. Ben Verified or Intellius is great. Brandy Daffin, Just Daffin. Horky just posted. Oh my God, I've been tossing them. I. I'm just telling you, like go through them, send them an offer. I still to this day I do not get very many return to centers now that I'm using lob. But I still to this day you've been verified and I get their email address and I send them an email. Sometimes they have like 10 different emails on there. I'm sending every single email and I'm saying, listen, this is an offer for your property. I've tried to get a hold of you via mail. I was unsuccessful. Here you go. And I still get deals that way.

Yeah, I like Ben Verified better because Gary's asking doesn't tell us, for example, have a good interface. I've always used Ben Verified. But you know what's better than Ben Verified and better than Intelius?

What?

Consistency.

Do you know that I have found potential sellers on Facebook? I tell me. So I got a return to center, right?

Yep.

Couldn't find them. Couldn't find them on Ben Verified. Just look their name up on Facebook. Sent him a message on Facebook. Guess what happened? I ended up buying their property. Really? Yeah. Isn't that crazy.

I think I need to share a song.

You need to share a song? Song are you gonna share?

What.

What. What are you. What song are you sharing?

Because you're just killing me with that.

Why am I killing you?

Here we.

Go. Sa. That was awesome. Good work. What?

We should do that more when moments come up that are songworthy.

That was a really good idea. I'm gonna. I'm gonna be on YouTube more often. During your calls? During our.

Wait, wait. You made it.

Sure.

It sound like I was surfing YouTube randomly. Well, you were specifically not randomly.

Oh, okay. Okay. God.

Do we have any more segments? We're cranking out, I always say. Scott, we're gonna go a half hour.

All right. I do have a Facebook court of the week. Let me find it here. Here we go.

Okay.

Okay. This is from Mark o'. Brien. All right, Mark, nice to. Nice to have you with us. Haven't met you yet. I'm just starting my. On my land investing journey. Considering the cost of the toolkit, forming an llc, mailings, due diligence, and having money to buy a few properties to start, not to mention all that comes with later, like VAs, etc. What is the bare minimum? Mike Zano, he said Mike Zanel in his post I should put away before starting.

Well, you know, we could bring up all these numbers, but let's be realistic and honest and.

Yeah, let's do that.

My name was mentioned as a case study. It was 40k when I started. Now, how the heck you don't. I didn't have any spare money. Right? You don't need money. Listen to me. You don't really need money. Because if you get an accepted offer, right? Yes. You need to be able to get some money out the door to do the mailings. Right. The bare minimum, that's really your major and only expense in the beginning. Because even when it comes to getting accepted offer, I could come to you, Scott, and say, I have an accepted offer for this property. Right. For $500, a property's worth $2,000. Would you like to buy this accepted offer for me? I'll give you the contact information, and for $200, it's yours. And then I can make a $200 off of not even buying the property, just selling you the right to buy the property. Right. I could just convert the information over to you. So really, that's one the real, true, real life answer. Now, the thing is, right, if you had some money set aside to buy property. Yeah, that'd be great. We're In a micro environment, you can buy land for 100, 200. I bought land for $25. I've gotten land given to me for free. Right. But you can buy land for a few hundred dollars and add in your mailing costs, right? You're looking at a bare minimum. Call it a hundred dollars a week. Come on, we know, 60 cents, 70 cents a letter, whatever put round it up. $100 a week, right? You're mailing out and then you're going to get accepted off. You're going to buy a property and you choose the price range. Buy a property for 500. That property should be worth 1500-2000. So it's really not a lot of fixed cost in the beginning. If you're talking about, well, then outsource this, outsource that. Don't count those costs yet because you haven't even done the business yet. So don't worry about the outsourcing component. That's going to come after you rinse, repeat, rinse, repeat, rinse, repeat, and then you'll be able to afford it at that time.

Mike, let me ask you a question.

Please do.

How much money would it cost you to invest in a duplex or multifamily home?

Yeah, see, I had a call with a guy and we were talking about this exact question. I said, hey, you have a nine unit apartment building. How much money do you make? Oh, vacancy rates. Oh, this, that, the other thing. Call it $200 a unit per month. I said, okay, we'll call it $2,000. You think he leveraged a half a million? I don't know. What do you think he leveraged for that $2,000 in the land? You could do in a fraction of that cost. Right? We work in a micro environment. We can build passive income extremely quickly because we offer payments where people spend more money every month on coffee at Dunkin Donuts, Starbucks, I don't care what you do, you spend more. $100, $200 a month. They can buy property from us at such a low purchase point. Rinse, repeat, rinse, repeat. Now you've got 2,000 after 10 deals. 10 deals, you could buy those properties for 10, $1,000 a piece. $10,000. This guy spent half a million. And I'm not cranking on other real estate businesses because real estate is incredible in all aspects. I'm just saying this is different. You can do it at a lower purchase point.

It's different. You can do it at a lower purchase point. You can do it with a few thousand dollars. Seriously, it's really an amazing business model. So Jake Martin says, spend cents to make dollars equals deal flow. Totally.

Makes sense. Yeah, makes sense.

Jake Martin, you are. You are on this. That's awesome. Back in. Yeah. Let's say, let's bring Matt first back in and suaret who's in charge of the toast tonight?

You know, I've never known anybody do a better toast than you.

Oh, really? Yeah.

Except the guy down the street because he makes toast with guacamole on it, and that is incredible.

He makes toastmake guacamole?

Yeah, but that's a whole different ball game.

I feel like I came into a weird section of this.

I'm gonna stay over here. It's he in. Is he in your hood or what?

Yeah, I'm sorry.

Time.

Time on the field. Xana lives in Haverhill is not a hood.

Sorry.

We have a hood. We have footage areas. Matt, what do you think of the Return to Send a Song segment?

I was sort of laughing my butt off on that. That was really, really good. It went on just a hair too long, but I really think you should have music queued up like that. That was great.

It was Elvis too long.

What do you mean? It went on a little bit too long. Just watch it on the replay.

Yeah, watch it in the replay.

Oh, really? Anybody?

Anybody? Any people out there with a keyboard? Am I right? Am I wrong? Was that just like, I don't know, 10 seconds too long?

It was great. You're just a jerk.

No, I'm just being critical. Yeah, well.

Nobody does a toast like you.

Yeah, you're putting the pressure on right now.

Oh, this is the pressure?

This is where you start singing again. Come on.

I know a little. Is that David Bowie?

That's why David. Well, it's really Queen, but I think David Bowie does a cut with them.

Yeah.

By the way, can we talk about. Can we talk about Scott Bosman being like, field of dreams, 1987, like, a savant.

Like.

Like, what's the card count? We're up 10 that nobody bet right now. Like, what was that?

He's amazing.

That was crazy. Yeah.

Yeah.

I would never play poker with Bosman. Ladies and gentlemen, that was field of ringside 87, Kevin Costner.

It was crazy. Wow.

Whatever. Yeah, okay.

Sorry.

Kevin Costner. Ever since Waterworld.

I might. 1994. 1994. 94 is Water World.

I'm literally gonna look that up because I did look up the other one, and you were right.

Wait a minute.

Let me.

Before you do the toast, I gotta cue the outro.

1995, Waterworld. Look it up, bro. July 28, 1995.

No.

Outro is cute.

All right, so I don't have a Scottish or Italian Irish toast pulled up tonight, so. Sorry. Here's the thing. Like, move your feet. Is that a toast? It's, it's. It's all about. It's all about massive action.

All about the deal flow.

Here, we'll mash up. Here, we'll mash up to. We'll make a toast.

You ready?

Some will, some won't. Send a letter.

Cheers.

I love it. Thanks, Matt.

Orlando.

Once again, Orlando.

Let's go.

We'll see you in one month.

Party time. Excellent.

I'm playing the outro. Are you ready?

Party on.

Party on when?

Party on.