Mark J. Podolsky (The Land Geek) advises people starting a real estate business to prioritize education and immediate deal activity (start making offers) rather than spending time/money on forming an LLC, building a website, or other administrative tasks. He argues those ancillary items are unnecessary at day one because they don’t directly generate income; instead validate proof-of-concept by closing deals first, then invest income into legal/entity setup and marketing. The video closes with contact details and links to downloadable resources (Passive Income Blueprint, eBook, podcast).
Chapters
Mark Podolski, the land geek with thelandgeek.com and I wanted to just talk today about the best way to start a real estate business. I know this is a question on a lot of people's minds, and I get this question a lot. Mark, what's the best way to start a real estate business? Should I start with an llc? Should I start with a real estate website? Should I start making offers? Do I need to do any other type of incorporation? Should I talk to a cpa? Should I talk to a lawyer? What do I do first? And honestly, the first thing you really need to do to get started in a real estate business is, number one, start making offers right at that point. That's something that actually moves the needle in your business, right? Setting up an LLC is nice. It's not necessary from day one. Having a website is nice, it's not necessary from day one. Those two things don't make you any money, right? Having a business card, it's nice, it's fun. Doesn't make you any money. So the thing that really the first action step is, number one, start making offers. That's the best way to get started in a real estate business, besides getting educated. And there's tons of resources and places to go to get educated. But once you do that and once you start taking massive action in your real estate business, then you start doing the ancillary activities like talking to your cpa. What's the best entities do I do? An S corporation, a C. Corporation, an LLC. Right, fine. It's necessary. It's not the first step, right? I don't think you should start incurring expenses in your real estate business and your investment business until you start making and generating some income. Because I think that's called, you know, that's playing business. That's not actually doing the business. That's doing the fun stuff. The hard stuff in real estate is getting educated, learning your market, making offers, and then closing on deals, marketing those deals and generating the income. And then you can go and say, hey, I've got proof of concept here. I'm going to go ahead and take it to the next level. I'm going to take that income and then I'm going to go invest in an llc. I'm going to invest in a website and do all those things again. You don't even need a website today. You're not going to be generating traffic. Go to places where people are already looking for real estate and you'll be just fine. Anyways, I hope this was helpful. If you have any questions you want additional information, certainly contact us@thelandgeek.com you can download for free the Passive Income Blueprint. You can get our ebook how to avoid the 3ft of land buying Mistakes, and you can always get the best Passive Income Model podcast delivered each week to your email inbox. Anyways, thanks for spending time and I'll see you on the other side. It.
