Mark J. Podolsky warns land buyers to skip brokers and do their own due diligence. He walks through an eight-parcel Nevada subdivision where broker claims about zoning and utilities fell apart once he checked himself.
Hey, it's Mark Podolski, the land Geek from thelandgeek.com let's have another virtual cup of coffee together. So I'm working on this big land deal in Nevada with a broker that I've worked with for years and basically it's eight parcels and we're looking to subdivide them down in half acre parcels to make about 140 lots. And it's, you know, a big six figure deal. Kathy calls me up last night, says, mark, I've done your due diligence for you, give me a call. Alright, right there. I love Kathy, don't get me wrong, Kathy, if you're watching this, I love you, but I'm not going to let anybody, anybody do my due diligence for me. So basically anything she has to say because she's not putting a dollar out of her own pocket in the deal is meaningless to me. It's completely meaningless. So don't get caught up and don't in like the rush of a deal and the broker's all excited about it. I did the due diligence for you. This is going to work great. We know we can subdivide it. They've got the water, we've got the power, everything's there. No, no, no, you need to double and triple check, especially on a big, big deal like this when it's all cash. You need to do your due diligence. You need to hear it from planning and zoning. You need to hear it from your surveyor, the broker, God love them, but remember, they are compensated for getting the deal done. So they really represent the deal and getting it done and pushing it through because that's how they get paid. And that's just human nature. If you're a broker watching this, no offense, nothing against you, we all need to get paid. We all have a mortgage to pay. It's fine. Nothing wrong with it. But I thought that would be just a good tip for you. Don't let any third party that does not have any financial risk in the deal with you doing your due diligence. If you want more tips, tricks, techniques on how to make an incredible income buying and selling raw land, go to www.thelandgeek.com, download for free the Passive Income Blueprint. Get the e book how to avoid the three Fatal Land Buying mistakes and of course, get the podcast Work Smart, Earn More, learn how delivered each week into your email inbox. This is Mark Podolski, the land Geek. Thanks for having a virtual cup of coffee with me. I'll see you next time.
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