The Land Business Margin of Profit - Nite Cap with the Land Geek Guys!

Mike Zano.

Scott Bossman.

What is going on, buddy?

Burning some incense in the background. Got my whiskey out.

Nice. Incense and whiskey. I love it.

Everybody, the gift that keeps giving. This is from you. I didn't finish all my Christmas advent calendar. But what a shame. Every time I crack one open, I think of you, dude.

Buddy, what a shame.

Not that I think of you. That's not a shame.

No, no, not at all. It's a shame you didn't drink the whiskey until now. I think we have some viewers finally rolling in. It takes. Takes just a few seconds, but if you want to see the very exciting intro, just go back 20 seconds. Right? So say hello, tell us where you're from. Mike, first, what are you drinking under there?

Feel like you. I just gotta interject here. I thought you were gonna say say hello to my little friend. And I'll say right here, whiskey. Say hello to my little friend from Scotland.

Say hello to my little friend. Oh, yeah, that's a good one.

You got crafts here. Let me guess, you have a hoppy beer from Wisconsin because I know you pretty well.

It's actually from Iowa, so. And this one is. This one's pretty cool. It's my new favorite. It's called the Bohemian Rapids.

Nice.

It's got like a Freddie Mercury look alike on there. It's a check pilsner.

Did you watch that movie on him? It was pretty phenomenal, wasn't it?

I did watch that movie. It was phenomenal. I love that movie.

Great. I'm guessing as a. As a singer yourself, you probably were belting on a few notes during that show.

Yeah, I can't sing as high as Freddie Mercury. That's for sure. That is for sure. I am trying to get some folks on the call here if you let us know where you're watching from. Are you on YouTube? Are you on Facebook? The Land Geek page? Are you on the Facebook group?

I'm going to go to? Are we. Are we throwing out the text line?

Yeah, I can get that at the bottom of the screen here in a minute. I want to make sure that we're. We're live in. There we go. We're live in the group. All right, now I'm gonna go in here and I'm gonna see if I can get some folks to join us. But anyway, Mike, we should introduce. We should introduce ourselves.

Let's do it.

Tell people who we are and why we're here.

Well, that is Scott Bossman. I am Mike Zano and we work with Mark Podolsky, who is the land geek. And we're part of a pretty cool team of people. It's actually a close knit team of. It's like there's only like six, seven, eight people. It's not, not that, not a lot of us and we, we show people how to invest in land, how to create recurring income by low cost assets, which is land. I like to joke, we're in the penny stocks of real estate. But the cash flow we generate, I mean Scott, you realize that some people and I know that. Listen, before you all going to argue with me, I know there's appreciation and there's depreciation, but some people will buy, invest, they put like $50,000 down and, and get a multi family and maybe make a few hundred dollars positive cash flow. I'm just talking about cash flow folks per, per unit, per door, per month. And you know, we can do that in say a couple of $2,000 properties we can match. That isn't that significant that when you think of it that in those terms.

Yeah, it's, it's crazy. Right? And the other great thing that is amazing about land, for those of you just tuning in, maybe you don't know much about land investing is we're not dealing with the traditional real estate headaches. I don't have a tenant, Mike. I got to worry about, man. I don't have any repairs I have to worry about.

I don't have any toilets and neither one of us has termites.

Exactly, exactly. Not to say that. Completely bulletproof. Right, right, right. But Mike, you've been doing this eight or nine years.

Yep.

How many headaches have you had? Like legitimate headaches? Be honest.

Maybe a couple that you know that. And it may be due to my own, you know, in the early days, rushing maybe. I bought a property and I didn't do a good enough search on it, so I had to go correct something. It wasn't insurmountable, it wasn't something I couldn't solve, but it created a little extra work because I had what Scott Todd calls gotta have landitis.

Right. All right, what about any other emergencies, Mike? Like I don't know, have you ever like Scott Todd bought a property one time and had a bunch of tires on it, remember?

Yeah.

Any, any problems like that that cost a little bit of money for you to.

I've had one where we had some debris on it and still after paying someone the money to haul off the debris, still made a ton of money on it. So the thing is, when you buy with what Mark likes to call The Warren Buffett margin of safety, 25 cents on a dollar. If you have, if you have to put a few hundred dollars for something here, there to clean some debris or something, you still have a huge profit margin in front of you.

Yes, that's for sure. And you know, I look at it like. So I've been doing this since 2015, I'd say I've had kind of one issue for out of every hundred deals. Like that's that. That's about what it is. And yeah. And when you add up the headaches and the number of, you know, maybe the little bit of money that was needed to clean up whatever situation it was, it's like over eight years it's been maybe a couple thousand bucks I've had to spend for some type of headache. Now if you're in multifamily, if you're buying and holding duplexes or single family homes or that type of thing. What if the furnace goes out, Mike?

Yeah, yeah, yeah. That could really take away a lot of the profit. You know, Scott, you were on the precipice. I love using that word. One of your, one of your favorite words. I know it's not the only one, but when you came to the land investing you on the precipice of doing it some other types of real estate, what made the difference in your mind? What tilted you in this direction? Can you remember that moment when you've sort of made a change of. Had a change of heart?

Yeah. I mean, I think at the time we were looking at buying a duplex and we needed like $34,000 down.

Yeah.

And let's do the math.

Wait a minute, let's do the math. You love math, but you love the state. But let's. I'm going to write down what, what it would have cost you to get that duplex. Okay, so you were saying approximately 34,000.

34,000 is. Is what that would have been the down payment and out of pocket. Out of pocket. And then we would have had. And then in the first year you got to pay mortgage. Right. And I don't know, maybe you may be renting it out. Would have, you know, I don't know, hopefully renting it out, you wouldn't have had a rent.

What would be your average monthly positive cash flow after vacancy initially and expenses and all that.

I've heard, what, 200 bucks? It's not much. Right?

It can vary. I mean, listen, folks, we know again, before you come yelling at us on text line, we know there's appreciation we're talking cash flow. So, Scott, let's say you took 30,000 of that and you bought. Let's go with an average of a $2,000 property. So how many is that you can buy?

That's 17 properties that I could have bought.

We're going to cut it down to 30. We're going to say 30.

So 15.

15 properties. So you're going to be into 15 properties at $2,000 a piece of. What do you think? So let's say an average of 200. You know, Scott, sometimes I do this. Does this make sense to you? I say thousand dollar property, $100 a month, 2,200amonth, 3,300amonth. It's sort of like a. It's not 100% accurate, folks, but it's like an average I play with in my head, Right?

So, yeah, because. Yeah, you want your money out in 10 months or less, Right?

Right. So say you get a property, how much money is that going to bring you at 200 times 15? You're the mathematician. What am I at?

200 times 15 is $3,000 a month.

So you're looking at $3,000 a month within year one, as opposed to, wow, just cross off a 0. 300.

Yeah. Now, Mike, I do get equity in the duplex, you know.

You do, you do. And you do have depreciation, we understand that, but we're talking what's going to make the most difference in your life today, tomorrow, this year, next year, what's going to allow you to start building towards the freedom number, which is when you're fixed expenses, Right. You meet them with your recurring income. So is that appreciation going to get you there?

No, it is not. And the equity is not going to get me there. At least not right away, unless you do some.

You got 100 grand in the bank, but you can't touch it, right? Well, you could, you could refine. I understand folks, you could refi all that. We're trying to stay very simple here. Simple.

Trying to say simple.

Simple math.

Simple math.

So 300, $3,000 a month versus 300. That's an interesting play, right?

It's an interesting play, yeah. With great returns. So.

And you recoup all your money within 10 months? Yeah. How long would it take you to recoup that? 34,000 or 30,000.

Yeah, good point. It'd take a while. Years. So if you would take years, it wouldn't take 10 months.

So if you didn't have a ton of capital, you couldn't get very creative with the refi and all that that's involved with that, it's going to take you quite some time to build up that freedom number, isn't it?

Sure is.

And we have freedom number.

Yeah, it's all about freedom for sure. We'll talk more about freedom here. But boy, everybody's so quiet tonight. We got a lot of people watching, but everyone's so quiet. So please tell us, tell us where you're tuning in from. Tell us, are you new to the business? Are you, Are you. Are you a veteran? Did you just find us yesterday? And do you have any questions?

And do you like our sweatsitos?

Do you like our sweatsitos? Because land investing, it is a track. It's a tracksuit business.

That's right.

What we've determined. Curious to know on Facebook. On Facebook. Leave us a comment. I want to make sure that we're live on Facebook. We do have some comments. They're just not coming in through.

Let me check the text line.

They're not coming in. I can't see them.

Maybe people disagree with us, Scott. Maybe they're going to disagree with everything we said so far. Let's see.

It's possible. Thank you, Stephen.

The only thing I see in text line is from last episode where we might as well say at the beginning of the episode, Scott does have some pretty cool shirts. All that it requires is a little shipping.

That's right here, I'll even hold. I'll hold one up.

People are chiming in behind you.

Bill Kavanaugh is here from the Philly burbs. Joanie Vincent is here. Stephen Chan, John Davis, Adam Norris. Who else is here? Ready of our favorites here. John Davis is in Philadelphia area on the hotline.

So I don't feel like I'm staring at this for no reason. Somebody, come on, throw me a hello. Just a hello, Mike.

Here's the problem, though. I can't for. For whatever reason because I'm on a different computer tonight. I can't find the little. The little balloon at the bottom of the screen to put up the hotline, so.

Well, you know what? Let me do something better than that.

Joshua Began is here. Their new Kyle Taylor. What's up, Kyle? What up, Mike? Thanks for the help earlier, Mike. That was nice for you to help, Kyle.

You bet. Always.

Next thing I want to know is from. From the folks watching, whether you're new, old, or intermediate. Is that the term? What, what brings you to land investing?

What.

What has motivated you to go down this path?

Right.

I love hearing that.

Yeah. Yeah, let's talk.

Here's the Nightcap T shirt.

I love it.

If anyone's interested, text. Text me. You gonna hold up the paper? Did you write it out, Mike?

No, I'm gonna get the number. I'm gonna say it to everybody. Hold on, let me. Let me get the number here. Here we go.

Joni Vincent says newbie here. I'm not your favorite yet, but will be one day. Jody, we love it. We love it. Stephen Chan, brand new to the group. All right, Mike, here's a question from Stephen. While people are thinking about, you know, what to say as far as what brings them to the land business, he does have a question. Mike, brand new. Let's say you found us yesterday, you found us today. Where does someone start?

All right, so I guess we could go in a few directions. This. We could say. So you've already made the determination, I guess, that you want to begin investing in land, right?

So, well, let's do two cases. So let's do. Let's do. We're gonna do two case studies here. So case study one is. I just learned about you today.

Yeah.

Where do I start, Mike?

Well, that. In that case, I would go to our YouTube channel. I would look for content, follow our podcast. We have a ton of them out there. Go to our Facebook group, the official wealth and creation group, and just try to make the determination. If this is speaking to you, right? The first and foremost, is this what you're looking to do? Like, are you trying to create recurring income? Do you want to do that off of small investments in vacant land? Like, does that whole idea resonate with you? Right? What is your. I think, you know, essentially, like, what are your goals? What are you trying to accomplish? We all have pain points. I had debt. You know, I think we both had a situation. We were trying to pay off some debt and whatnot. I think, what are you trying to solve? What is it? Is it? And so that can help you understand whether or not this is the right model for you, Right? So if that's. That's number one. Now, if you figure that out, then I think you look and say, okay, who are these guys? Like, who are we? Who's laying geek? You know, what do we do? And so you look into our podcast and you understand that we've helped a lot of people, like, legitimately helped a lot of people create some significant recurring income that's really impacted their lives beyond just paying for their fixed expenses. We're talking matching income, then replacing income. I heard this term this week, right? Scott, Bolting it on, bolt on income. You can bolt it on to what you already have. I think that's a great way to look at it. And so if this, then if so, if you like the land investing and you understand that we're here to help you do it, then it becomes like, what's my journey going to be? Right? And so then the question I would ask you is how soon do you want to make money from land investing? How soon do you want to make money from a land deal? If you're not, it's not urgent and you have no, you know, you're okay with your job and yeah, you don't really have a huge pain point and you're like, well then go with the toolkit. Like, take your time and go. But if you really understand the power of this and you want to create some recurring income as quickly as possible, then you're probably looking at a self guided journey, which we have. It's called flight school. So I think that's how it goes. Determine whether or not it's for you. Understand whether or not we're the people that you want to assist you. Right. Hopefully we're pretty ethical and transparent over here. What we do is just have you follow a blueprint to success and then decide on your urgency. How soon do you want to make money? And if you have a long timeline, fine, I'll play around the toolkit. But if you feel like you want to get money quickly and you want to build this as quickly and efficiently with the least amount of mistakes and as you say, Scott, have a lot of fun, then you probably entertain going through flight school because it's a really, you know, you're at the bottom of the mountain and you can either pick up a map like, and you can look at it, be like, and you could follow the blue trail, the yellow tail, the green trail, right? Or you could be like, oh, who's this guy? Who's this little Sherpa guy? Scott. Todd. And you could be like, come over here, let me show you the shortcut and you can follow him.

I love it. I love it. I found Mike. How to get some letters here at the bottom of the screen.

All right. Because Our number is 608-387-8981.

All right, hold on.

Not to be confused at 867-530-986. Sorry.

Oh, man.

608387 898-18981.

All right, so Mike, you left out the most important thing.

I know I had to give you something to talk about Scott.

No, I'm just kidding.

I don't know what important.

No, read Dirt Rich. Read Mark's book, Dirt Rich.

Yes, yes. That's on the edge. That's in sort of the informative education phase.

Giving you a hard time now. Thank you guys for tuning in, giving us your. Chatting with us, I should say. Steven owns condos and single family rentals. Land investing is new to him. Let's see. Joshua said his dad referred him to the program, and it seems like a pretty neat way to make some money. The alternative was rentals, but his wife hates managing them. There you go. We just talked about that at the beginning of the show, right? No. No emergencies. No management of my land needed.

Tell us what she hates about it. Curious.

Yeah. Love it.

I mean, we could be. We're sitting here saying, tenants. Maybe it's something completely different. We haven't even thought of.

Stephen Chan. Question, Mike. Do you have to do the toolkit before flight school?

No, actually, you don't. It's a different journey altogether. So there's no. No prerequisite. Our. Our. Our process, our blueprint, our curriculum will take you from square one not knowing anything to doing deals.

Yeah. Joshua began says that wife hates managing mostly the tenants. So there you go. Tenants, man. And being on call 24 7, that's another thing. You know, tenants. Tenants are tough, right? Like, do you know the trick, Mike? I don't know if I heard this on Bigger Pockets or whatever, but if you have a. Let's say you have a duplex and you're renting out the duplex to somebody.

Yeah.

And they come over and they're looking at the place. Do you know how. Do you know how you're supposed to. Do you know how you're able to tell if they're going to be a good tenant or not?

No. Tell me.

So you leave them in the duplex for a little while just to look around and, you know, see if they like the place. And you walk outside and you look in their car. If it's messy, if their car's messy, if the. If the passenger side is a. Is a. Full of trash and fast food wrappers and everything else and dirty Kleenex. You don't rent to that person. They're out.

I love that.

Isn't that interesting? But we don't have to do that with land.

No, we don't. Getting some texts here. So, Joanie, thank you for texting. She wants a T shirt. She could be joining the next few days. She talked with me. Yeah. It's been a pleasure talking with you, Joanie. I appreciate the. Shout out, Shout out, shout out, shout out.

And she says, boy, she's in two places. And once her. Mike loves the idea of being able to automate many of the processes. Processes initially needs cash flow, but ultimately more interested in long term passive income.

Nice.

Chuck Goldstein is here. Chuck, how are you? Looking to create a legacy for his son and grandsons. Nice to see you here, sir. It was nice to talk to you last week.

We talked to a lot of people and that is something big on their mind. How to create a legacy. Right. Generational wealth. This is, by the way, a skill that you can convey to the next generation as if you were a plumber or an electrician or some other type of profession. This is a transferable skill. Right. So it's pretty awesome.

Awesome. Stephen Chan, he hears a lot about deals, Mike, in the 2000-5000 space.

Yeah.

But does this work at a bigger scale, like 10,000 and flipping for 20 to 30?

Sure, sure. So here's the thing. Most certainly, Ken, I would say that if you're going to do a cash sale, that's nice, but you know, there's a lot more people out there looking to pay on a monthly payment, and we capitalize on that and create the recurring income. If you had a whole bunch of capital and that wasn't an issue, then, yeah, you could buy $10,000 properties. You probably won't get your money back inside of a year, but if you look at it in terms of the long term return, it'll blow away most other investments in terms of the roi. It's just a matter of, to me, is how much capital you have available. Right. So most people love the idea of working in the smaller dollar amounts because that's pretty significant. $2,000 property generating $200 a month. Right. That's a pretty significant cash flow for that investment. So you can do it in higher price points. I think what's interesting to note is that essentially we show you how to build a system, and the system can work if you have 10 or 20 or 3 zeros at the end of that property. Right. That's your ability to personalize it Right. On your price points and what you have available for capital and so on.

Yeah. Awesome. And you know, I think, I mean, we can always go back to our minnows, dolphins and whales analogy.

We haven't talked about that in so long.

It's been a while. Right. So. So, Stephen, the reason we like the micro deals There are bread and butter. Right. There are minnows. We buy lots of minnows because they're fast and they're cheap. They move fast. Right.

So they cash flow nicely.

The cash flow nicely as well. And realtors don't work in those areas.

No. You're not going to run up against a realtor on a property you're going to sell for six, $8,000 total over, you know, the three to five years. You're not going to run into. The commission is just not there. And many of you out there, or some of you out there, are probably realtors, and you probably agree, like, how many. You know, you're going to go put a bunch of signs on a property, you're going to go show it a bunch. Bunch of people and spend a ton of your time to get the commission on a 6, 7, $8,000 property. Most likely not.

Right. So the micro deals work well, I think, and I think in this economy, I'm a little more comfortable buying the cheaper ones. If I have 10k to deploy, I think I'd rather buy five. Five for two.

Yeah.

Right now, that's just me, Joel and Tom. Tanya Finley are here. Mike. They finally got their first sale. Massive morale boost. All right, guys, listen, congrats to you. That's huge. You're gonna find now that the second one's easier, so time to rinse and repeat and move on to the next one. Yeah, we're happy for you guys. So that's. That's awesome. Cool. Any other comments or questions?

I'm fielding them right now. Let's see what we got.

Anyone new to the business? If you have any general questions about land investing, let us know. Anybody, Any vets out there want to throw Micah? You know, throw Micah a curveball with it, with a difficult question. Throw it at him. He needs a challenge. Oh, Mike, I. I think land. Land right now is exciting, right. And I think it's pretty early in the game, and you and I are very fortunate. I want to tell the story quick because this is really cool. You and I are very fortunate. We are able to help people get started on their journey. Right?

Right.

And, Mike, I was there, and you were there as well. Back when we started our journey, there was a little bit of fear, maybe not as much for you. There was for me, though. Like, I had fear taking money out of my bank account and investing in this new type of business model.

Right.

When I didn't have any background in business or real estate or anything. I'm in healthcare. And to you Know, go from where I was to where I wanted to be. I had to make this really big decision that some people might perceive as risky or especially family members. Right. Or just kind of off the wall or just a little bit abnormal, right?

Yes.

But the thing is, like, the hardest thing when you're starting is the decision to move forward.

Right.

After that, it's all about doing okay. So I talked to a guy today, his name is Neil. And we've had a couple calls recently. And at first, when we first started talking, he's like, is this even for real? Right. Like, he's kind of skeptical. Like, are these numbers for real? Is this for real? Are you for real? Are you some scammer? And, you know, you just point him in the right direction. What I love about Land Geek is we have a ton of social proof that this works. Right?

Right.

So, you know, Neil, go listen to some podcasts. You know, go talk to this guy. Go, go learn about us. Right. And then after you learn about us and you feel a little bit more comfortable, let's have a little bit more. Let's have a more in depth conversation to see if we might be able to help you. Right?

Right.

Well, Neil eventually decided he wanted to move forward, and he was still a little bit tentative with his decision, but after the decision, he felt a little better. And then a little while later, he sent me this. So this is kind of cool. Mike. Back in 1963, John F. Kennedy was. Was making a speech for the dedication of the Aerospace center in San Antonio, Texas.

Okay.

And this is what John F. Kennedy said. Frank o', Connor, the Irish writer, tells in one of his books, how as a boy, he and his friends would make their way across the countryside. And when they came to an orchard wall that seemed too high and too doubtful to try and too difficult to permit their voyage to continue, they took off their hats and tossed them over the wall. And then they had no choice but to follow them.

Wow.

So what Neil did today was he threw his hat over the wall. And we talk sometimes about how there's this line, right. And you're going from this side of the line to the other one with making a decision to move forward.

Yes.

And you have no choice but to follow the hat or to go get the hat.

Love it. I love it. Yeah, you have a cool. Yeah. You make a commitment and you level up. Right. And. And I think that's the thing when you're all in. Who are we looking for? Someone who is willing to make a commitment to bring about a change in their life. That will be super impactful. Because when, if that's the case, we're going to make the equal commitment back to support you and guide you. So that's what we're looking for, people with that type of commitment. That's pretty amazing.

Yeah, I love that analogy. I'm going to be using that analogy from now on. Throwing the hat over the wall, man. All right, we got people chiming in. All right, so people, some people would like a T shirt. I'm just asking a very small. If you guys wouldn't mind paying for shipping. That would be very helpful. So I'm gonna put that note, that number up here again. Text 608-387-8981 for information about a T shirt.

All right.

All right, cool. Steven Chan says how many hours per week, Mike, do you suggest new students set aside for this new venture? Obviously, the more the better. But if we're working on other ventures at the same time, is that okay?

Yes, but here's the thing. I would like you to have about 10 hours a week. I think that's a minimum. I think is important. You could probably do it in less. I think it all depends on your ability to do deep work, non distracted work, which is difficult in today's fractured attention, you know, world that we live in with the different beeps and texts and interruptions. So if you can set aside time with no distractions and you are following a very specific plan, plan of action, a curriculum or a blueprint, I think you can get this done in 10 hours a week. More is better. More is better. But you know, what's that law that you, your time fills the, A lot of you take the task, fills the allotted time. Is that per, what's that law? You know that law because of p. Par Parkinson's law. Law, yes.

Is that what you're talking about?

Yeah. What is it like the time allotted for a task? It'll take that. So if you, a lot. 20 hours will take 20 hours. If you allow 10 hours, it'll take 10 hours. Because you're going to focus to get it done right? I'm not, I'm really butchering that. But that's the idea.

Debbie Hufford, if you didn't get your T shirt, something's wrong because I, I, I'm about 99 sure I sent you your T shirt. So let me, let me double check.

Jeff Storley just sent us a text.

Did he get his T shirt?

Yeah, he can't make it tonight, but check it out. He's Supporting us.

He's got it on. Look at that beard, too, man. All right, Debbie, Debbie, I will. I will recheck my records tomorrow. But I did go to the post office the other day. It's. It's possible I might have missed you. If so, I apologize. I will get that to you. Let's see here. Yeah, Joni Vincent says that's kind of like burning the boats. It kind of is that analogy. Larry, Merle's here. Larry, I owe you a phone call. I got your message, and I'll give you a ring tomorrow. Let's see. Work. Yeah, Joanie's. Joni's on top of this. Mike, I've had two beers. I'm. I'm a little slow. Work. Work expands so as to fill the time available for its completion.

Is that Parkinson's Law? Is that what that is? Because that's perfectly said, Joanie. Thank you, Joanie.

Is that Parkinson's Law?

That's exactly what I was trying to say. And you said it so much more eloquently.

Let's see. All right. Deborah Vaughn. All right. Let's see. I'm so afraid I can't get more. I have about 35 from tax deals, but fear of selling that, I can't get more, Deborah.

I guess scarcity type thing. Is that what we're saying?

Yeah, I'm not sure. Maybe. And I don't want to misinterpret what you said, so maybe if you could just retype that. Because I'm wondering if there's a typo or maybe something there that's making it hard for me to interpret completely.

The beard goggles might be help. Not helping.

Beer goggles. Yeah, I don't have my glasses on. Maybe that's it. Larry Burrow got his shirt. Nothing like a pastor walking around with a nightcap shirt.

Nice.

Larry. I love it. I love it. Oh, I'm glad you got your shirt, Larry. All right. See? So, Debbie, you know that I am sending them out. So this may have been a clerical error on my end, and I will take care of that. But, yeah, appreciate it. So, yeah, what else is going on? Any other questions? Any other wins out there to celebrate? Mike, you know what's coming up not too far away.

Are you gonna say Vegas?

I'm gonna say Vegas, baby.

Yeah. I love when the boot camps come out quick like that because some of the during the year, sometimes there's a big gap, but this is like, we're gonna be there in April. It's coming quick. Yeah.

A little over two Months from now, we'll be in Las Vegas. The, the live boot camps. There's just something special about them. Right. It's just kind of. I don't know. It's very motivating and inspiring to be in a room full of land investors for the weekend. So those of you who are interested, text the number. We can give you info.

Love to meet you all in person. Some of you have. And if we have, we'd like to see you again. If we haven't met you, we want to meet you.

Larry has a win. Two takedown, two takedown deals this week.

So that's pretty awesome purchase. Is that what he's saying?

Yeah. Larry, like bulk or are you, you buying, Buying a little bit at a time? Is that the deal you needed to talk to, Talk to me about that? No, but yeah, let us know if you don't mind sharing. I think I got all the comments here.

Let me see if we got any more on the hotline.

Oh, here we go. When the buyer defaults on the payment, is the process to repossess the land. Simple, Stephen. It is actually very simple because we do not record our land contracts with the county. So there are no issues there because we work in counties where that's legal.

Okay.

And if the buyer defaults, we just take the property back and we will send them a default letter notice of termination. But we'll take the property back a lot of times at a lower cost basis and then, and then resell, make more money.

Yep.

So that's, you know, that, that, that. I love that too. Mike, about land investing, right? Like we're buying these properties and they're ours for a while, right?

Think about it. You're buying at 25 cents on a dollar. Now someone makes three or four payments on it, what do you own that property for now, Right? So we, I always say we want people to fulfill their promises as we fulfill ours, but that's not always the case. There are times where people can no longer continue or opt out and you have a lower cost basis and you do make more money.

Right. And Mike, you're not like slum Lord land guy over there.

What did you just call me?

Slum Lord land guy.

No, we work with people. So here's the thing. We're talking about people that just go silent and don't, you know if someone to say, hey, Mike, or hey, Scott, I really still want this property, I'm running to a tough time. And even if they can make some payment, some partial payment, something we'll work with Them.

You know, Mike, there's a term for those people, and I think it's time for a segment that we haven't done in quite some time.

Oh, boy. Which one is this?

This is called the Boston Legacy segment.

Oh, boy.

This is where Scott Bosman spells a word correctly and Mike Zano pronounces it horribly wrong in his Bostonian accent.

I hope I can get this one correct.

All right, you ready? So this is the title for that person you were just talking about. You ready?

Yeah.

G H O S T E R. Ghosta. Ghosta. No, that's the ghoster.

I thought you're saying defalta a defaulta.

It's either one. The ghosta or the defaulta. But, yeah, that's not how we pronounce it correctly. But anyway, less effort.

I can say more with less effort. I'm efficient.

How is that?

Less effort takes me less time.

It's no less. It doesn't take you less time. Ghoster. It's like shorthand, Ghosta. Ghost. Like, it's much longer. It's milliseconds longer.

He's a ghoster.

Yeah. Come on, come on, come on.

Anyway. All right. There you go.

So Larry says he offered on one property and seller sold him seven others. Four on another one. So that's another great thing, right. About this business, Mike, is a lot of times you do these mailing campaigns, you're hoping for one property, and what happens? Oh, boom. Yeah, boom. Exactly.

I'm curious, though, Larry. Does that mean that you made a connection, built a relationship, and you're buying, like, one or two a month? Like, when you say takedown, I'm thinking that. Is that what you mean by that?

Yeah.

Took them all down.

When we think of a takedown, we may have the opportunity to buy, let's say, 10 properties from someone, but maybe we don't have all the money in the bank account. So we'll come to an agreement with the seller that. Hey, Mr. Seller, would you be good with me buying one a month for the next 10 months? Right.

Yeah.

And I've done that a few times. It's a way to do multiple deals with one, with one seller. If you don't have a ton of.

Money in your account, it's all about building relationships. And, you know, Larry can do that. He's so nice and such a good conversationalist and builds rapport. I'm sure that's exactly what happened.

I. Yeah, I can just imagine. You'd be. We'd all be like putty. Putty in Larry's hands on the other end of the phone. I think he might. Mike, you might have your work cut out for you to. To compete with that guy.

He reeks of honesty and sincerity. It's like you can just hear it.

Reeks of it.

That's a good thing to recap. If you're gonna read anything, Larry, it might as well be honestly. A sincerity. Right.

Oh, man.

Larry will be in Vegas, right?

I. I hope he. I would assume he would be. All right, so Chuck says for those that can't make it to Vegas, will we be able to watch on Zoom? We do not currently record or live stream stream the. The live boot camps.

So.

But Chuck, you can come to a virtual boot camp, which I believe we will be having this summer. Yeah, I think July. Maybe July or August. Let's see. Oh, Larry, Larry, he's doing a takedown, Mike. He didn't have the money and he offered to buy one a month, but an investor came through with all of the money to buy them all. Okay, so there you go. So that's another great thing about this business is if you don't want to do a takedown deal or if the seller doesn't want to do a takedown deal, opm. All you OPM other people's money, right? All right, let's see. Deborah, to expand on what she was talking about earlier, says, I'm afraid I can't find more good deals. What I'm saying is I'm hoarding them. Afraid I'll run out.

Oh, okay. Well, that truth is, there's no shortage of land out there, right? So. So have you already sold these or you're afraid to sell them? Like, do you know, did you say anything else about that?

No, not yet.

By the way, folks, that's beer number three.

Come on. You throw me under the bus online in front of millions of people.

They all saw you pour it online.

In front of me. In front of Larry.

In front of Larry. I thought we had a two beer limit.

Oh, really? Yeah, you go back and watch a few past episodes, and I think. I think the count to be a limit.

But we could have as much whiskey as we want.

Yeah, right. Exactly. Yeah. I'm down to like one night a week with any drinks, so tonight's my night, so.

Hey, I fully support it.

Quit judging me.

Understood.

Larry says looking forward to Vegas. He will be in Vegas. I love Larry's humor. Nothing like a pastor walking around Vegas with a nightcap shirt.

Perfect.

I love it, love it, love it. All right, well, we Appreciate you all chiming in and a little fewer questions tonight. I don't know what it is. It's.

Maybe it's a time.

No, because last. Last time it was the same time slot. I think it's your energy.

What? I have bad energy tonight. I'd have a lot more Energy at 8 o' clock Eastern.

Yeah, but this is the time, man. 9 Eastern is the time.

Would anybody like to see a brunch? We do them every so often. We do a nightcap. Brunch. We could do a nighttime nightcap. Martini night. We could do that.

Now there is a two martini limit. What?

We could do a brunch. We could do the nightcap. We could also do like a late afternoon martini meetup. The nightcap meetup.

We could do a happy hour.

Olives in land.

Yeah, no worries there. Debbie likes happy hour. Debbie, what time would you like?

What time zone are you in, Debbie?

I think she's. I think she's eastern, if I remember correctly. So, Debbie, you tell us what time you like. I owe you. We. We. Oh, I owe you, Debbie. A T shirt and a happy hour. Yeah, she's eastern Atlanta.

We were just in Atlanta. We were.

That was a fun boot camp.

Yeah. Had some great food. What was that restaurant we went to the last time last night with, like, the old white house there, Debbie? We went to this place and it was. Oh, chicken. And what was the hotel we stayed at? What was the name of the hotel?

Oh, I don't remember.

It was a pretty upbeat new hotel. The lobby was actually a bar. Lobby.

Yeah.

And then next to it, right next to it, was this old white house. Right. And Landon and Tria knew about it. We got some crazy good food there.

Yeah, it was good stuff. Chicken and collard greens and taters.

Biscuits.

Biscuits. Debbie prefers 6pm Eastern.

I am down with that.

All right, what. What night you want to do next week, Mike, for happy hour? 6:00pm Eastern.

Okay, Let's do. Do Thursday night.

Are you sure about that?

Why? Something going on Thursday?

No, I'm just checking. This took a long time to.

Thursday. We're gonna do a happy hour.

All right, next Thursday night, 6pm Eastern.

Happy hour.

The energy will be much improved.

Favorite martini.

Oh, now she says the next two weeks are bad. Well, Debbie.

Curtis Henderson says Vegas T shirt. Go Chiefs. Football reference.

Now, there's this big thing this week at Weekend Mikey. I may not have heard of it. It's called the Super Bowl.

Yeah, I know. I had some friends over there and I called on my. I was texted it Was family, like my brother in law. And so I was texting my buddies at fighter pound. He said he wants to watch football. How do I find this football? What channel? I was trying to figure out where the football was. They're like, what? How do you find football? Question mark, Question mark, question mark. I'm like, oh, yeah, I'll put the football. I'll put the game on. Want to watch the game?

Oh, man. Yeah. For. Mike's a boss tonight, but he. But he's not a sports fan, which is kind of rare. But it's okay.

I like to read.

Yeah, he's a reader, Marita. He's a Rita.

Prolific Rita.

Debbie. I'm sure we could do a one week in March. Maybe we'll do like, you know, we'll do three nightcaps and one happy hour. Something like that. We'll figure something out.

Every month should be three nightcaps and a happy hour.

I like it. Three nightcaps and a happy hour. Yeah, I like it a lot.

The martini meetup, we'll call it.

All right, well, hopefully we. Look, everything's coming through okay tech wise. I'm having a little computer problem, so getting a nice.

You sound great.

All right, good. And yeah, we'll see you next. Next Thursday, I guess, right?

Yeah.

Oh, Adam, just Talking about some 61 property deal he wants to talk to you about tomorrow.

Yeah, we've already connected. We're going to talk about it. Looking forward to it.

61 properties.

Piece of cake, Adam.

Piece of cake. I love it. That's pretty amazing. Talk about going from zero to 60.

And, you know, zero to 61.

Oh, yes. Zero, 61 in five seconds. Right? Thank you, everyone, for coming. We appreciate you. We will be back next week. Remember, if you throw your hat over the wall, you got to go get it.

That's right.

All it takes in this business is a decision to move forward, cross the line from this side to this side, make a decision to be a land investor, and then all you have to do is the work and it's doable.

Make the commitment and we'll get you there. Step by step.

Step by step. If that guy can do it, all y' all can do it.

That's certainly true.

All right, buddy. Love you, man.

Love you, too, bro. Cheers.

Good night, everybody. Have a good night. Well, we'll talk soon.

Going down. Three night caps in the happy hour. I love it.

I like that. It's like three men and a baby.

Bad analogy.

Oh, really? Okay. All right, fine. Bye.

Bye. Bye.

Bad analogy.

Are we still alive? No.

Sure. Huh? Oh, this. This computer. I'm telling you something to be desired. I must have to upgrade the.