The Compound Effect of Land Notes: What $2500/Month Looks Like After 10 Years

Eat baloney, buy land. Oh, eat baloney, buy land. Trade the fork for the deed in your hand. Skip the fillet, let the sandwiches stand. Your fortune will grow when you buy your own land.

Welcome everyone to Land Geek Nightcap. Tonight, we're going to show you how something as simple as adding just a couple of land notes every few months, or every month ideally, can completely change your financial future over the next decade. We're talking about the, the compound effect of consistently buying discounted land, creating notes, recycling your capital, and stacking cash flow month after month. So stick around and And as always, happy to be here for another episode of Land Geek Nightcap. I'm Scott Bossman, and joining me is Mike Zaino, the Zen Master. Breathe in the mailing, breathe out the marketing.

Just to hear you say recycling capital, just—

You like that?

It was just really moving. Recycling capital.

Recycling capital, yes. That's what we do, if you think about it. In the lower right, my collared brother, broke out the collar tonight for, for nightcap, uh, as did John. Uh, John, Handsome Rob, 8 is Enough Burnett is here, uh, the guy who's always got land deals bubbling. Good to see you, sir.

Thank you, it's good to see you. My collar is a lot more casual. I feel like I would get— I would— I'm the one who would get bounced out of the club.

Oh yeah, I mean You might. If it was Mike Zano, he'd have the top button undone and be doing this.

Oh, there you go, Travolta.

Yeah, that's what, that's what Zano will be doing. And in the upper right, of course, the man, the reason we're all here, the godfather himself, Mark J. Podolsky, the Land Geek. How are you, sir?

Thank you, it's great to be here. And, uh, you know, for everyone who's on like live streaming, I'm, I'm hoping for a little I'm having a personal problem.

Can we just—

can we talk about me for a second?

But let's do it.

Let's do it.

Okay, so I did— remember that sardine fast I did?

Yes.

So I was sleeping great on that sardine fast, and my deep sleep was great, my REM sleep was great. And then like the last week, I've had insomnia. I'm up at like 2, 3 in the morning. I'm taking glycine. I'm doing everything right. Like, I'm not eating like past 7. I'm not doing caffeine late. I'm taking glycine, L-serine, magnesium L-threonate. Does anyone— can anyone help with my insomnia?

It looks like you gotta go setting— looks like you gotta go back to the, uh, back to that bad breath.

There's no way that I had sardines the other night. And I tried it, didn't work. Up. You guys, you guys sleeping through the night?

Um, if I get woken up, it's tough to go sometimes, you know. You know, I always say life seems different at 3 AM, doesn't it?

Yeah, stressful. Yeah, then I get up and I start reading Infinite Jest, and that helps. Yeah, puts me to sleep.

Some of those chapters, man, they're—

is that fiction, non-fiction? Have we talked about this? Infinite Jest?

It's fiction. It's a tough book to read.

Audible better?

No, you have to— I don't even think it's— it's not even appropriate for Audible. It's two books.

Oh geez.

Uh, well, it's good to see everybody. Uh, as, as always, we have some— we have some faithful viewers, uh, Eddie Dyer's here. Jeff Cunningham, good to see you guys. Reagan McCallum is here. BMK— oh, Brad Kelly on his phone while on the road. Please be careful driving. Devon is here, pretending to work. Pretending to work here, y'all. Don't— just ignore me and let me pretend to be working over here. I love it. I love it. I, I have to confess, back in the day I pretended to work while doing some, some land things on the side.

Not gonna lie, we're all guilty of that.

Yeah, got our first shout out of the night from Brad Kelly.

Yeah, it's a combo shout out, the Q&A, the combo shout out, the elusive combo.

Just the top.

I'll take a combo too, Bossman and Podolsky, please.

Oh man, yeah, happy summer solstice to all of us. Sometimes a— sometimes a birthday on the summer solstice. Is today this?

I thought the summer solstice was on the 21st.

It was on the 21st. I don't know why Charles said that, but I'm saying happy summer solstice anyway.

Happy belated summer solstice, Charles.

Yes, yes, yeah.

Awesome. All right. Well, guys, let's briefly touch on this topic. I don't know how long we'll talk about it, but we've all been doing this a long time, right? Between the 4 of us, maybe the 3 of us have done as many land deals as Mark. Probably not quite yet, but maybe.

You mean combined, of course.

That's what I mean, combined. Yes. Yeah. But for everybody out there, our business is pretty simple. We buy vacant land, you know, direct from owners at a deep discount. And then we either sell it for cash, or we might wholesale it to another land investor. But where the power comes in is when we owner finance the land and we hold it, right? We hold the note. So let's talk, Mike Zaino, about the compounding effect of doing these owner financing deals. Because I think that's really where the strength of our business lies, don't you?

I do. And I've often thought, you know, someone just casually did this and added a note here and a note there, it would be a dramatic effect over time, right? And you don't— you know, it's definitely compounding, you know, because most of these notes are 3, 5, 7, maybe 10 years. So you just keep adding one in there. Yeah, I mean, you could start out, it's going to pay the cable bill. I don't know, the cable bill is pretty expensive these days for all of us, I'm sure. But it starts out with the cable bill.

Who has cable anymore?

Well, you know what I mean? The internet, the streaming. Should I say the streaming bill?

There you go.

Let the cable shaming begin.

So the streaming bill, then the car payment, and then the mortgage, you know, this is all things that happen. We talk about, we love to talk about the $10K per month. That's a great first hump that people get to. And, uh, it's quite exciting. It's, it is impressive. No doubt about it. But there's a lot of big wins, little wins, or other wins along the way.

Hmm, I love how you lean into the mic.

Well, you know, I have to get— is it working?

It's working.

Yeah, it's working great.

That's probably— you didn't lower your voice as you leaned in.

I feel like that microphone is your favorite possession.

It is. I'm just trying to enjoy every last moment because You know, Mark's gonna be gone for a little bit on vacation, so I'm really just trying to get the most out of this episode.

Yeah, yeah, don't think I'm not gonna watch you guys. Oh, I will.

It's gonna be a lonely square. We're just gonna keep it blank, like a blank square there. What are we gonna do, cut out a Mark? AI Mark?

AI Mark?

I mean, we bring AI Mark in. We should bring AI Mark in and give them a little— is that possible?

You can get the— we can also get the Mark J. Podolsky clone. You can get it on your phone. You can have a phone conversation. It talks with Mark's voice. We can get it to say silly things.

It's pretty close, right? It is. It's pretty good. Yeah. Yeah. I had my parents call me. And they're like, we don't like this. I did not like it.

Oh, that's funny. Uh, what about you, John? Uh, talk about consistency in this business and what compounding land notes, uh, have done for you.

Yeah, I think that, um, uh, I mean, you just add over time. There is a point where, um, like we always talk about how it's like a hockey stick, you know, like there's the compounding of just like adding notes every month, right? When you're selling, like things just gradually get bigger and your capacity gets higher and higher and the level of freedom that you have gets bigger and bigger. Um, but then there's also like compounding of your labor, right? Sometimes you're working on something trying to get like your ads to click or whatever it is. And then I think we've all had those moments in our business where all of a sudden it just does, like all of that labor comes into place and then there's like a massive takeoff moment. And I've had multiple moments like that in my business where all of a sudden, like, you know, everything is at a whole, at a whole new level.

So that's awesome. I think here's what I think we should do. We've all been around long enough here. I think that we should go around and each name a land geek that we have been, uh, maybe, um, motivated by or inspired by who has started this business and taken it to a very high level. Is that, is that okay, Mark? I don't want to make you feel like you're playing favorites.

Oh yeah, it can't be one of us three, that way I don't feel bad. Yeah, yeah, because I know it won't be me, and that's just me saving my own You know, all of us just say Mark J.

Podolsky.

Yeah, we can do that.

I can just say Mark J. Podolsky.

And I mean, my fragile ego loves that, actually. So no, you can't say me. Say someone else that's inspired you. And I won't say you guys.

Who's maybe the kind of the embodiment of consistency, who has taken this to a point where, you know, their passive income from land has exceeded their fixed expenses in life. They've gained more control over their time. Uh, I can start if you want.

What if you choose mine though?

I'm not going to choose you either.

No, choose mine. What if you do?

Oh, okay, Mike, you go first.

No, no, no, I'm just kidding. Go, please.

No, no, please.

No, no, I insist.

I don't think— I don't think we're gonna choose the same person. Um, okay, so, so this guy, I, uh, it was one of the first people I ever interacted with, uh, in my role at Land Geek were— because the 3 of us, we chat with people about the business. We talk to them about where they are now in life and where they want to be. What are their goals? How might land investing help them get there? One of the first calls I ever had with somebody in this role was Roberto Chavez. And I just love looking back because that was like 2017, 2018. And I had a call with Roberto about land investing and how it had changed my life. And he's like, all right, Scott, I'm gonna do it. And he did it, and he worked hard at it for 18-24 months. And he just— he was the embodiment of consistency, I think. He just kept showing up an hour or two a day, and the notes kept stacking and stacking and stacking to the point where he was able to quit his job as an attorney, right? And now he's home full-time with his family. And really, when you think about it, Mark, He started in 2017, so 9 years later, but he quit his job years ago already.

Yeah, and I loved what he did with his time too. And this is before he's married and has his kid, you know. He's spending an extra day with his dad, helping his dad out on his ranch, and he's taking time for himself. So he took— he went down from like 5 days to 3 days, uh, before he quit. He could have quit earlier, but that's, you know, he just wanted to keep doing it. And then he quit. It was amazing.

So that's my, that's my land geek that embodies consistency and building a NORC portfolio over time that created freedom.

A NORC portfolio?

Yes, thank you. Yes, NORC portfolio. Mike Sadel, who's your, who are you spotlighting?

It's just like my land geek crush. Is that what you're asking me?

I mean, it's just— come on, dude, you've, you've talked— you've—

oh, I know. Listen, there's one person that does stand out to me, and he's actually becoming more and more, um, prominent, more well-known in the geekosphere. Is that okay?

The geekosystem.

Geekosystem. Sorry, the geekosystem. Um, I love this person because, you know, he's had, you know, just different life challenges. He stayed consistent. He's a true family man, and I think that, uh, you know, he's done it with— in a very eloquent way. And I'm gonna go Matt Nunn.

Ah, yeah, that's a great one. And especially his story. I mean, you know, they had some personal struggles.

Yes. And he's through it all, you know, because he built systems and he built a business. And, uh, you know, uh, and if anybody's coming into the Land Geek, uh, you know, uh, what are we calling it now again? Say it one more time.

Geekosphere.

You're gonna see more of them. The Geekosystem. He's, he's there. He's helping people out now. You know, I think he's the perfect person for that. He's so compassionate, so dialed in. So yeah, I think any of you get to know him, take the opportunity and learn from him. He's very amazing.

Awesome. John Burnett, who's, who are you gonna spotlight in your—

it's hard because there's so many.

I know, right?

I really admire and like, I mean, I don't know, I, I'm gonna go the opposite direction. I'm gonna pick a couple people who are a little bit newer in land investing, and they are fans. They watch our show. They might be here right now watching us. But, um, you know, again, there's a lot of people that come to mind, but, uh, but there's a couple that I think of, and because I had the conversation with them when they were interested in jumping in land investing and I'm just really very pleased with how they're doing, and they're still building, but they're— they've really built something impressive. And so Don Thrasher is one of them.

Yeah, Don. Yes, Don.

And then the other one is Scott Elliott, you know. Yes, he's doing great. And so, and then, yeah, so those are— those are two that come to mind, but there are many, many more.

There are many more. There's there's a list of many, many, many. But I just thought it'd be fun to kind of reflect for a minute because this is, uh, these are 3 examples, but I mean, times 10, times 100. Mark, how's it feel to be able to, you know, I mean, you created this for all of us and you've been able to help so many people get on this path. That's got to feel amazing.

It does. I mean, I think it's, you know, what I love about is that we're all doing it together. Like, I might be the first Land Geek, but we're all Land Geeks, and as a community, we're all helping each other. We all have an abundance mindset. And so for me, just that, that piece of it is, is super gratifying. And, uh, you know, we, we haven't talked about You know, I don't know if you guys remember, but like 10 years ago, you know, we had very few women in the land geek, uh, community. And today the, the women are crushing. And so I think of like a Jess Palmerley, Valerie Young, and Stephanie Dean, Terea Harris, Mimi Schmidt, Dana Mace. I mean, does he— Jess Palmerley Uh, Carissa Hyman, like, you know, and all the couples that are doing it together. Valerie Burnett. I mean, it's just amazing, right, uh, that the, the women who traditionally were never really interested in, in raw land because it's like, oh yeah, flipping dirt, it's very male-oriented, um, they are just crushing it now in, in the business. And, uh, I love seeing that evolution of it as well.

Very true, very true. We have a lot of, uh, really powerful women going through this. Uh, Juliana going through this.

Juliana, yeah, this is very true. Yeah, I mean, I'm— there's like 50 that I didn't say, right? Was this game behind? Because I'm, I'm old.

Well, it's a testament to the growth, right? It just shows you that, you know, how many people are really This opportunity is there for anybody who just wants to commit the time and effort, really. You know, this is not get rich quick, this is build steadily over time. But you know, the people that bring that committed action and that mindset of success is inevitable— doesn't mean it's easy, but it's inevitable if you follow a course of action that's mapped out in front of you.

Yeah, I mean, I don't know anything worth doing that's easy. I just don't.

You just got to choose your heart.

I wish, I wish it was easy, right? Uh, I think there's joyful. I think you can, you get to a point where you enjoy it, but you just get stronger. It never gets easier in a way. And then you just level up, you're like, oh, I'm on the next level now. This is hard.

Yeah, build your land investing muscles.

Yeah.

And I think in all of these people we've named, they went into this with a little bit of time and a huge, huge why. And they had realistic expectations that this takes a while, right? It takes a few years to get this up and running. So if you have, you know, if you have those things, I think anybody can do this. So I think we kind of touched on the compound effect of land notes and how they, how they affect us and they affect our community. I think I would say one other thing, like you can grow this portfolio and scale your time as well.

Right?

I'll give you an example. I was in South Dakota for a week last week, just seeing my parents. Just on a whim, I decided to go back and spend the entire week with them. And I had my laptop and I could do land deals. And there were some days I didn't even check in with my team. A couple days I did check in. But, you know, looking at where I was 11 years ago, quite the, quite, quite the change, and just thankful for it. So if you're looking for that laptop business, this is a great, great one for it as well. I think we should open it up for questions. What do you guys think?

I think it's great. I wanted to say, I think it was Rick Colcock said, don't pick on Mike just because he still has a phone hanging on the kitchen wall. My I don't, but my parents still have the phone hanging on the wall, the same one I use. You guys remember how you had to have the long cord because you had to go to another room, and so you had that like 20-foot cord. If you could stretch it as far as you can, bring the door shut on it so nobody would interrupt you. Yeah, I think call waiting came and be like, you're probably like, someone call me. No, I didn't hear anybody trying to call in.

Yeah, do you remember the, like, how great it was when it was like like you got a new phone, you didn't have to go, you know, someone had a zero, you're like, I'm not gonna call that number.

They have a zero in their number, not getting bothered.

And then it's like you just kind of press a button, right? And now it's just like, call Mike, it calls. It's amazing.

And we don't know each other's numbers, right?

I still know my number.

I, I still know my childhood best friend's numbers.

I was just gonna ask if you do, because I had the other night, I had a reason to call a friend that I hadn't talked to in probably 6, 7 years. And I was like— and the number came to my mind, and it was his number. It's not in my phone. It's like some people— do you have anybody like that? And Scott, you said you did. About, uh, Mark or John, do you have numbers from years and years ago that, you know, not your parents but like a friend that's still stuck in your head?

Yeah, I've got one number I can remember. I can remember my neighbors.

Really?

That's it. I remember my— well, I do remember like my, my parents Uh, I can't remember any of— I don't know any of my sister's phone numbers. Uh, and I know Valerie's phone number. That's it.

So very cool. Yeah, I know Laney's cell number. Oh yeah, which, which is impressive these days. I still know my, my parents still have a landline. I know their number by heart. Yes, but like, I'm trying to think.

I don't remember.

I don't think I think that's a shout out if I ever heard one. There he is, Matt.

I didn't even know you were watching, Matt.

Can we bring that on? Can he join?

Come on.

Oh, Matt, if you go to Slack, if you go to Slack, I'll send you the— I'll send you the link. Come on. Well, he could be busy.

We don't know what's going on. Yeah, in the Nunn household.

But if you're not busy Uh, Brad, look at that. Brad Kelly mowed lawns to pay for his own line. So, wow, that's—

man, I just remember the days of dial-up and you couldn't pick up the phone while somebody was checking their email. Remember that?

Yeah, AOL.

Yeah, yeah, I remember the discs they would mail you with the free games.

Yes.

Yeah, does anybody remember Chess Quest?

What?

What?

Okay, Chex Quest, you gotta Google it. It was a, you know, they would give you those like treats in the cereal boxes. And there was one period of time where they mailed you this computer game called Chex Quest, which was actually a great game. And you can still play it online. So wow.

Wow. Now things you learn, might be that was just an Idaho.

Yeah, do you guys remember Pitfall?

Oh God, yeah, I want to play that tonight now. The alligators.

Yeah, that was so fun. What, what console was that on?

Uh, uh, uh, Atari? Not, not Atari, it was the ColecoVision. ColecoVision. That's what it was. Yep.

Wow, crazy.

Tip of the week from Rick Colcock: it's a good idea to create a phone number cheat sheet and keep it in your wallet in case your phone dies and you got to call somebody. Who does that? Not this guy.

That's a good idea.

It's a great idea.

It was a great idea. It was—

was it Atari? Yeah, maybe it was Atari. I remember playing it on ColecoVision though. My cousin had that.

So now, look, the Atari games, when you got them, like Oh, new game. Well, man, we do have a great question here. I think, I think, uh, it's incredible. It's a very, uh, good question. Very, very good question.

Is it the market selection question?

Yes, I love that. Okay, so you think that's good?

All right, yeah, let's do it. Is market selection and acquisition substantially different with your system than it is with traditional not using notes than it is with the traditional buy and flip system.

I feel like this is like a lob for John Burnett.

Yeah, softball lob coming at you, John.

All right, you ready? You ready?

We're ready.

Yes.

Oh man.

Yeah, so it is different. Uh, with our model, and part of it is that we focus really heavily on repeatability, right? So we're not looking for like infill lots. We're not focusing on onesie-twosie deals. We're looking for an area where like, A, where I can sell properties. So people, people will buy these. And then B, where I can do it over and over and over and over again in this area. Right. And so, uh, we, we focus a lot on large rural subdivisions, property that's already been subdivided. And because there's consistency, because we're dealing with properties that are very similar to one another, it makes the system very repeatable so that we're not like, you know, all 4 of us, we can run our businesses with very little involvement required from us because we're doing the same thing over and over and over again.

So we're like the McDonald's of land. Yeah, it's a system.

Could be the Chick-fil-A of land.

You know what, even better. Chick-fil-A is delicious.

It is delicious.

It is. And it's a system.

Yeah, and they got Sundays off.

Yeah. Yeah.

Awesome.

You guys heard that Kanye song?

Which one is that?

Close on Sundays, just like Chick-fil-A.

I don't know if I've heard that.

It's great.

It's a great song, by the way. He did a gospel album years and years ago before he went crazy.

Yeah, right. Oh man. Any other questions out there for, uh, us seasoned land investors? Got a lot of comments coming in about the, the Atari 2600. I did play it on a ColecoVision. Scott Christianson says that the Coleco was for people with money, I guess. I don't know. I didn't know that, uh, that was the case back then.

So many tabs open that I cannot find the one where we're talking because I just found— I just found that you could play Pitfall online and I was going to share the link with everybody, but then I can't. I have like literally probably about 1 million tabs open, and so bear with me while I can't even see you guys.

If you do Command+N Command. It's a new window.

Got it. You just have to ask Claude Cowork to find the tab.

Oh, I'll do that right now. That'll work. Thank you, John.

Thank you, Mike. Uh, Charles Jones, that's a sad ending for your Atari right there. That is sad.

Yeah.

Okay, follow-up question on that, uh, Mike Zano. What John was just talking about, does that imply— does John imply then that he's staying in the same market for an extended period of time?

Well, yes, most typically, but, you know, we, we could work in another one or two. You know, we tend not to work in a ton of markets because we build buyers lists for people looking for property in the areas we specialize in. And so when you focus— I mean, these areas are so massive that literally thousands of properties, and you know, you can keep sourcing deals from there. You become an expert, your due diligence becomes very quick and efficient, you have buyers waiting for properties there. Um, it's— yeah, so I, I would say yes, but sometimes you might add another one.

Yeah, sometimes the Winnie the Pooh strategy.

Dude, say more.

Well, you know, you find your honey hole and you just keep eating until there's no more honey in that county, and you just get fat, metaphorically.

And it, it never happens that the honey runs out?

The honey does not run out very often. Yeah, yeah.

Yeah, I bought, I bought 3 properties this week, uh, in the first county I ever mailed to.

Wow, that's huge. Did you get nervous writing the check?

Uh, excited for—

or having LG Pass send the check? I don't know.

I mean, it's kind of like rote now. Like, once you have a product that you're just like, I can— I just know this, you know.

It's—

it kind of is just normal.

Even in New County, no butterflies?

I mean, New County occasionally, like if I'm like, you know, jumping into a brand new area, then maybe. But usually I'm kind of jumping into it with like— it's kind of baked into the cake, you know. I'm like, I'm gonna try this out and see. And as long as you're buying at 25, 35 cents on the dollar, even if I'm very wrong right? I've got a lot of wiggle room. So yeah, that's— that is—

that margin of safety is what makes this business so beautiful. We don't talk about it enough.

I don't—

Mike, why don't you talk about margin of safety like all the time?

Like, well, I do.

We don't like name like a grandchild margin of safety.

Imagine a safety MOS.

Get over here.

I do talk about that a lot with people that are looking to get involved in this business, because it's like, even if the market tanks, you're gonna double your money. You know, it would have to massively tank, and it's never done that. Um, so yeah, margin of safety is real. I, I, you know, you always call it the Warren Buffett margin of safety, which I think makes it sound even more impressive.

No, that's, that's why I do it.

Well, it works very good.

Just preface everything you say with Warren Buffett.

That's right.

Great.

Uh, all right, awesome. Got another, uh, question here from Shannon. Shannon, good to see you. Uh, do you allocate— uh, I'll pick on John again— do you allocate, John Burnett, a certain amount of the passive income you're bringing into the pot that's getting recycled to acquire more?

Oh, the pot. Um, I like— at this point, I pay myself a salary And then I cycle everything back in, and then every so often I might just do a distribution and give myself money if I need it. But that's kind of the way that I structure it, because there's a certain amount of money that, you know, that I need, and then the rest I can just roll back in.

Love it, love it. And when you get to numbers like John Burnett has, he's got a lot to roll into more land.

Every month.

I was wondering if we could— you know, I've seen this word pot come up, and since I just recently cut my leg on a pot, can we change it? Because I feel like I'm getting PTSD every time the word comes up.

I think you better tell the story.

Yeah, I was in the yard trying to help Laura yard work, which I shouldn't do because she does all the yard work, and a bee stung me in the neck. I jumped back and landed on a broken pot and cut my leg so bad I needed surgery. And so I keep seeing the word pot come up and I just get PTSD.

You know, I also have injured myself running backwards into a pot before. Fun fact.

Really?

I did.

I broke my leg.

Oh, you broke your arm? Yeah, I was running back. I was playing, uh, I was playing football after church and running backwards, and I fell backwards into a tree pot and broke my arm on Super Bowl Sunday. So, wow.

Well, this is Mark is prophetic because what I wanted to get over this 9-inch scar I'm going to have is a picture of Winnie the Pooh eating honey out of a broken pot with a bee. I thought that would be appropriate.

There you go.

Really, a 9-inch scar?

I can show you.

Extremely impressive. It's bad.

Mark, did you see the picture?

I saw the picture and I didn't eat for like 12 hours after.

Yeah, we won't show it here. It's a family show.

Let me share my screen.

No, it's the family show. But it's a big enough scar for a big size tattoo. Yeah, but of course the story I tell everybody is the shark attack.

Shock attack.

There you go.

Yeah, yeah, save somebody's life.

Yeah.

Oh yeah, I'm glad, uh, I'm glad you're doing well this week, uh, brother, because that was a, that was a nasty, nasty injury.

Yes, you're lucky. I mean You can really hurt yourself. Scary.

I know, I know. You know, the hardest— the one thing that hurt the most was with the— I'm in there and the lady gives me the antibiotic shot in the arm. I'm like, that just hurt more than everything. What did you just do? She's like, I'm so sorry. Don't make me cry in front of my wife. It's not, it's not, it's not really what I want to do right now. But anyway, I, I, I digress. I just thought maybe this keep bringing up pot, pot, pot, pot, pot.

We're glad you're better. We're glad you're with us this week, Mike, and sorry that happened. No problem. Here, I have a question for all of us. Let's all raise our hand. This will be fun, okay? Okay. Who here, when I ask the question, John, who here has ever sold a parcel and then bought it back again?

I just— I, I am doing this right now as we speak.

Yeah, yeah, I haven't done a lot, but I have done it.

Yeah, I sold a property to a guy, uh, like around $9,000, and then he ran an Airbnb, I found out, on this property while I was selling it to him. Okay, so he had this like campsite and, um, He ran it and was profitable for the entire note, and then he finished, he paid it off, and he was like, I think I'm— I don't need this anymore. And so I'm buying it back from him for $4,000, and it already has photography, due diligence, and it's gone up in value. And now it has a deck and a picnic table and an awning. So there you go.

Wow.

Did you say $4,000 or $40,000?

4.

And how much was 90? What's that? You're buying it back for 4?

How much did you sell it?

I sold it for $8,900.

About $8,900, because I heard 90 as well.

I said 90.

Oh, I'm like, whoa, yeah, that would be a great deal.

That'd be a crazy deal.

That'd be a John Burnett deal.

That's what it would be. Yeah, but, but even still, $8,900 and still buying it back again $4,000, it's still a good deal. Yeah, yeah. And I do that too. I— and I'm very upfront with them. I'm like, look, I'm the last person you want to sell it to. I'll be fast, but like, it's kind of like going back to the jeweler after you bought jewelry from them. Yeah, you know, you're not going to get retail because I have to go out and sell it again retail and I have to make money on it. And people are like, okay, I get it, what are you gonna give me? Like, yeah, half. Yeah, he's like, okay, we do—

I mean, we do the same thing. Like, we're just— I'm just really upfront with it. I'm like, look, you bought it for what it's worth, you know, and so it's, it's, you know, I'm gonna be paying a lot less than that. If you want to try selling it, you can have all the photography I have, all the stuff, right? But if, you know, if you just want to be done, then I'll make you an offer, and if it doesn't make sense, that's fine.

So yeah, yeah, beautiful.

Well, that's at the heart of why our business works. People just want money now, right? What's that, uh, oh my God, that commercial, JJ something, get money now. The people when they have settlements, like the JJ Wentworth. Yeah, get— what's the tagline? Get your money now or something. It's the same idea. People know they could have all this money over a long period of time or waiting, but they want money now.

That's a great business too. Factoring business is a great business.

That's what you call that, huh? Factoring?

Yeah, money factoring. So, uh, okay, so like, let's say I'm a business and I got a huge receivable. Let's say I've got a million dollars receivables, but I'm getting paid every 90 days. You know, Moneybags Burnett comes in and it's like, okay, I'll pay $850.

They're like, I want money now.

And he makes $150,000 on, on the factoring. Now what the risk is, he's got to get— he's got to collect, right, uh, on it. So, and you got to have a lot of money to do it. But factoring is a great business. Same thing with the settlement business as well. I'm getting a million-dollar settlement, but I'll pay you $500,000 now, and I'll wait 2 years to get the million.

Mm, well, that just shows you something like that with, with, with NoteBuy, right?

Yeah, we'll pay you your money now.

Yeah, that's kind of what it is. Yeah, and that's why our business is so great, because people just, they don't want to wait to market it or sell it and, or whatever, they want money now, and we, we help them. And so it's a win-win.

Yeah. Yep. Awesome. We have a question from Scott Elliott, which is a good one. And there's— this is, this is always up for debate. So it's good to bring it up on a nightcap, I think. So Scott has noticed Florida has been slow for him the last month. He says it's because it's summer and super hot. He hears Colorado is selling midsummer. What are the thoughts on seasonality? Seasonality. Mike Zaino, for everybody out there who maybe doesn't know what we're talking about. What's the theory here of seasonality?

Yeah, just like Colorado snowing in the winter, right? Is, is that a great time to— but I know that people sell property, we sell property in those different, uh, climates, uh, year-round. But I think, you know, we typically used to talk about not even seasonality of the areas but the business. So we'd always talk about August being a little bit slower, right, Mark? We'd always kind of— not to the point of stagnation, but just to the point of people are on vacation and people are doing that and Um, so I think this time of year, if there was a time that where it would be a little slow— definitely not stagnant, definitely not productive, but may it slow down— I think it's just people are on vacation and whatnot, and a lot's going on. But, um, we make up that in other months, you know. But it's not like it stops, it's just some areas, I think there's a natural cyclical nature to, uh, people.

Yeah, yeah.

I, and I would agree with that. I think April, May felt really hot, and June was a little colder in the land business.

You had a perfect opportunity for 'I concur.' I know.

Oh, I concurred. Come on. Sorry, I don't think we've had one concur all night except for that kind of concur.

Yeah.

John Burnett, what are your thoughts?

Uh, I concur. Ah, but, um, yeah, I mean, I, I find like if I've got a property, uh, that's in Colorado at 11,000 feet elevation, um, you know, it's not going to sell well in February because you're probably not going to get to it, right? Um, and if I think about, you know, one place that I don't want to be in August is Scottsdale, right?

Right, in an RV.

Right. So if you ever want a good travel deal in Scottsdale, go in August. Fun fact. But, um, but I think there's, there's an element of that that applies with the land business. I do sell in Colorado in the winter, you know, um But if, you know, if you're in the hot muggy months in this particular county, it might be a little bit slower than typical.

So I concur. I know it sounds like someone needs a non-concur. What do we do if we're not secure? Like we all just spit on the ground?

Yeah, that would be great.

Spit on the ground, I love that. Uh, Yeah, Scottsdale is beautiful at 5 in the morning and 10 at night at this time of year.

Otherwise, why are you guys—

here's a fun fact. If you're cities, if you're walking in Scottsdale like 11 at night and you're, and you're sweating and you're thirsty, don't pick a fruit off a tree thinking it's an orange. It's not an orange. I mean, you have a major problem.

Did you do that anywhere though?

Well, it just looked like an orange, and Laura and I were like— this is way back, one of the boot camps, like late, we're walking, we're like, oh, oh, let's have one of these. This look— this has got to be an orange. Look at it.

I did the exact same thing in May. It was the most bitter and simultaneously sour thing I have ever ingested.

Oh my God, I can't wait for January and February and March to roll around.

I can't wait. Oh man, true, true. Also true.

Yeah. Oh, trade-offs, trade-offs, right? Um, who's the first— who's going to be the first to buy or sell land using Xmoney's digital wallet?

Who's Xmoney?

Yeah, X, uh, Tesla, like, you know.

Oh, is that backed by Doge? Is that backed by Doge by any chance? I got a whole bunch of Doge. Is that backed by Doge?

I don't, I don't know, but I, I think digital currency is going to be a thing. We're probably going to embed that into GeekPay at some point. So, uh, I would probably be the first one, I would think, to try it.

Oh, you heard it here.

That would be—

John's very techie. I can imagine John beating me to the punch. Yeah, so awesome.

Yeah, okay. Yeah, here's another question.

Bad idea. Yeah. Oh, go ahead, read it. Yeah, sorry.

From Charles Jones, uh, good to focus on two counties that are inversely correlated.

Oh, I love words like that.

It's such a Ray Dalio thing to say.

Yeah, I mean, I think it helps to have a little variety. Variety is the spice of life, right? You know, it's helpful to have a little variety in your land business. But that being said, we all know land investors who work in one county, and they've only ever worked in one county. Right? Mike, you have a close, close connection that has worked only in one county forever. I know people that have worked in one county.

What's that, Mark?

Is that Jeff?

No, he was talking about Jack out in— oh yeah, yeah, yeah.

Well, Jack owns the county.

Yes, it's a whole other animal.

Yeah, it's, it's good, it's good to know people who own the county.

So yeah, yeah, yes, yeah, yeah.

Purchasing any of those Geek Coins?

Come, come back to boot camp, Devon. Keep, keep stacking them, they're gonna be worth a lot.

Oh man, awesome. We had a comment here earlier, something about, uh, should we start a countdown to the Dirt Rich Summit? I think we should. Maybe have a countdown every week on the—

well, we're actually not that far away, are we?

Not really that far. 4 months?

July, August, like 3 months. Yeah, 3 months. It's the beginning of October, so it's like 3 months.

Yeah, craziness. Uh, but for those watching who doesn't know, who don't know what the Dirt Rich Summit is, uh, it's a, it's an annual gathering of land geeks, and, uh, it's a blast. And you all have to come because you'll learn so much, and you'll get to meet Mike and John and Mark.

All geeks unite! All geeks unite!

Yeah, who— when you see in person, fun fact, Scott Bossman is 4 foot 7 inches.

Be, be prepared for how, for how tiny Scott is.

Oh, that's funny, that's a good one. Oh man, yeah, my torso is very short. Uh, are tickets available? I believe. Let me see if I can find the, uh, URL.

No, they're definitely ready. Yeah, I think so. Yeah, Jeff even said haven't seen any emails for registration because, Jeff, I know you unsubscribed because you get so many emails. That's why. Oh man.

Uh, let's see. Yeah, I don't know if I can find the URL or not.

I know the pre-registration opened. I'm not Yeah, I'm pretty sure we're wide open at this point.

Yeah, I, I know our coaching clients are, are reserving their tickets. I'm just hazy, Jeff. He's like, news to me.

Yeah, I, I, I— what I would have to say, Jeff, is that the emails are coming soon and You're in flight school, so we'll be hitting you up with QR codes where you can register, um, for, for the Dirt Rich Summit, uh, for sure.

So are we emailing QR codes?

No, on, uh, in flight school we share a QR code in the, on the, on the live calls.

Oh, okay, nice.

Yeah, tricky, tricky, tricky.

Am I the only one when Mike says that thinks of the, the RendMC song?

That's what I was getting at.

You were—

you picked it up with one note. Remember, that's the— I can name that song in 3 notes. Remember that? What was that show? I could name that song and name that—

name that song.

That was hard.

I couldn't do it, not in 3 notes. John, could you do that? Do you have that kind of ear?

Not do that.

Yeah.

Oh man, it's tricky. What's that? Play Name That Tune.

By the way, speaking of tunes, I'm listening to Suno music more than real music. I love AI music.

Come on, man.

I'm serious.

It's so good.

What, that you created? You mean that stuff you created?

Yes, my own creations. Yes, I have the lyrics. It's like, it's personal. I made Laney like a romantic song the other day. It was so good.

Oh, you know, Laura did that for my birthday. I was driving with my— we were with my best friend and his girl. We're driving, we went to a concert, we saw Jelly Roll. We were coming home and, and I'm just doing something, and like the song kept playing over and over again. My friends hit me in the chest and I'm like, what's, what's the problem? It's like, this is a really good song, isn't it? I'm like, I don't know. The song was about me. She did that thing when they make the song about you, and I'm like, oh, she had to play it 3 times before I even keyed in. I felt horrible. Yeah, like, wait a minute, that's about me.

Yeah, is that Brian Winter? The dates are October 1st, October 3rd. Yeah, for, uh, Summit. But yeah, Mike, is that fun? Like, but you think you'd hear your own name in a song. Like, we're all like attuned to our own name.

Yeah, I just didn't you know, but very nice of her, very nice of her. I'll have to thank her again. I'll listen to it again tonight.

Yeah.

Any last questions? We're cranking— we're closing in on, uh, on the hour here.

Closing in on the hour. Oh, there it is. Uh, Derush on October 1st through the 3rd. Uh, we had a good Q&A tonight. Uh, we had about 100 people on.

Oh, what'd you guys talk about in the Q&A? What was the, uh, discussion?

Oh, we gave an overview of the model. Okay. Um, yeah, we talked— yeah, of course, the whole time. Yeah, I concur.

Land arbitrage.

That is great. That was great. I, I think land arbitrage is such a one— you know, uh, essentially, you know, you don't have to buy the whole property, but you can still make money off it by controlling it. I mean, real estate's control, right? So it's a very unique and Incredible way to make money. The Q&A, where is there a replay of that? Or how would someone— missed it, Scott? What do they do? Could you— can you— is it over?

It's over.

I mean, it's so— I know it's over. I get it. Must have been love, but it's over now.

Mary, I'll see if I can get you a copy. How's that sound? And I will personally hand deliver that to your, uh, to your phone inbox. But otherwise, for people watching, support@thelandgeek.com is a good email address to maybe ask for a replay of the Q&A that we had tonight.

Yeah, I thought it was good. And you know what? It was all about me. Shamelessly, Scott would be talking. I would just like talk over him.

Yeah, it was pretty—

You know, if it wasn't so aggressively rude, it was really great.

Uh, well, Mark, we're gonna miss you.

Uh, you're gonna be gone the whole month of July, so we'll be back in August.

I'll be back. Well, I'll be back for a little bit in August, and then again, because you guys know how hot it is, I will have to get out.

But I will come back.

Yeah, I gotta get my haircut.

You know, you're gonna come back to get a haircut. You have somebody like in Scottsdale, and it's only they can touch your head.

Well, no, no, I've actually gotten haircuts around the world. And it's been, it's actually one of my favorite things to do.

Really?

Is to do that.

Yeah.

Especially when they don't speak English. And you gotta like figure it out. And like, you just kind of make friends with them. And, you know, in some parts of the world, you know, you can just have a huge tip for them, and it's just like mind-blowing. Because American— like, in the, in the areas where there's not big tipping culture, you can really like make somebody's like month. So I love doing that. But, uh, so John, no, I am not that high maintenance.

I have to fly back.

Not a haircut.

I'm not a haircut snob, but I— because I'm coming back in some months, I figured, oh, I just got a haircut today, I come, I might make it a month. Yeah, so that's great. Yeah, Scott, he's like, it must be nice to have hair.

It's a lot, Scott. It's a lot of work.

Yeah, then you got like a bad hair day. I don't know, it's pretty efficient on any year.

Oh man, it must be easy.

I'll miss everybody for the month for sure. And, uh, you know, I have a feeling it's gonna get really raucous when I'm gone, so— oh, you just enjoy everybody.

I'm gone. We're bringing our own topics.

Getting attacked by the bug here.

Exactly.

This is it. I'm gonna end up getting hurt. I'm getting attacked by a bug. I don't know.

No bee stings. All right.

Oh yeah, we're gonna close this before cut.

Uh, all right, sounds good. Well, good night everybody, have a good night. Uh, we'll talk soon. We'll see you next week, uh, sans Mark, but, um, he will be in our hearts.

Let freedom ring. I miss you guys.

Freedom ring. Talk to you guys later. Peace.