Working with Other Land Investors - Nite Cap with the Land Geek Guys!

Mike Zaino.

Scott Bossman.

What's up, buddy?

Not much. Did we have one of these last week?

We did not because some guy was on vacation.

Oh, how was your vacation?

It was great. I don't go on vacation a lot, but I went on a cruise last month. Went to Florida last weekend. Go to Arizona next week.

Nice.

Go to California and then Colorado. It's craziness.

What is? All this traveling.

It's. It's insane. It's goofy. There's one viewer, two viewers. They're starting to roll in now. First minute or so, we don't have.

Any viewers, but we just talk amongst ourselves.

We may not have as many viewers tonight either because we are an hour earlier.

Yeah, it's only five o' clock on the West Coast.

Yeah, we decided to go earlier because, I don't know, I think, you know, a year ago we were 10 Eastern. Then we went 9 Eastern. Now we're at 8 Eastern. Pretty soon you're gonna be in bed at 7.

We live in the rerun.

We deliver the rerun. Facebook user says, hello. I'll have to see who you are, John. What do you mean, John? You're not chopped liver. John asked, what am I? Chopped liver. Of course you're not. Glad to see you here, John.

Let me see. The hotline's open.

The hotline is open. If you would rather remain anonymous with your questioning, text the hotline. You can throw questions up in YouTube. You can also throw questions up in Facebook. I may. Hey, John. Jakey, if you wouldn't mind. Oh, no, we're live. I want to make sure we were live in the motivational wealth creation group. And we are. So what is going on, Mike?

I'm checking the hotline.

Well, we should tell. We should probably tell people who we are because every once in a while we get a straggler that comes in.

We get a drifter.

Drifter. A straggler. They're new to this.

They see these YouTube, you're going from thing to thing, and all of a sudden the algorithm starts speaking to you and boom, we pop up in your.

Feed to the Land Geek guys. So the Land Geek is Mark Podolski, and he is a professional land investor. He's been doing this since 2001, I believe, and he taught us how to do it. And now we're land investors and we've replaced our income. I quit my job. You could quit your job.

Yeah.

And we now engage in the best passive income model.

We really do. It's quite amazing. We buy land 25 cents on the dollar. We cash flow it by setting up a note where someone's going to pay us a monthly payment. And when they're done paying us, we deed them the property and we can do this over and over again and create thousands of dollars of monthly passive income. That's pretty cool.

It's very cool. And the entire business can be outsourced, automated, delegated, scaled.

Cool. Number one, it's incredible way to replace your income. Cool. Number two, you don't even have to do it.

Cool. Number one. Cool. Number two, I like it. I want to, I want to show you something like that I got tonight, which I'm pretty excited about. I ran out of my make is mach, which is my, my staple. And I went to the store to get another bottle and look what I got tonight. I got a Makers Mac tumbler.

It comes with the little wrap at the bottom.

It's got a wax seal at the bottom of the glass. How cool is that as just look.

Like it's like the maker's mock upside down.

Exactly. So I'm pretty excited about my new.

Tumblr that came with the bottle.

Came with the bottle. Yep. Added. Added perk to purchasing some bourbon tonight. So land investing, are you new to this? Do you have questions? Let us know. Throw a question up in the chat. We have a question already, Mike.

All right, let's hear it.

Ken Green is here too. What's up, Ken?

What's up, Ken?

John Robinson here. What's up, John? He's a land geek. Prodigal son coming home.

All right, that sounds cool.

He bought the whole kit and caboodle and started with Scott Todd years ago, fell off the wagon and would like to know how to get back on board. So, John, how long ago was that? I think I do recognize your name, but we talking pre flight school days. Did you just do the toolkit? Did you do some other form of training? Tell us more and we will definitely have some, I think, helpful advice for you. We've had a few people like that recently, Mike, where they started the land investing a couple years ago they did some deals. For whatever reason, they stopped.

Yeah.

Now they're back.

Well, I just picture them walking out to their garage and looking at their vintage car that's covered, has a cover on it and there's dust all over it. So they whip off the COVID right. And the dust flies everywhere and they're looking at, oh man, I wish I could drive this thing. And then the first thing you gotta do is make sure it's got some gas. In it. Right, right. And what's the gas in this business? It's the county research. Right. The county research is like filling your tank full. Because what's gonna happen is we get that full and you, when you start the, start it up. It's like you start getting your mailings going. And then how many mailings per week is when you push the gas pedal down. So those are the three things to get driving right away is put some gas in the tank, st her up and hit the gas pedal. Get your county research done, start building a list, and start mailing. So that's how you get. Then it starts to crank.

I mean, Mike Zan said it all. You gotta restart, restock. But John, he was pre flight school. You know, John, we could talk about flight school for you. It's really an amazing program. It not. I mean, we've had people go through and do a reboot, Mike, with flight school. They've done deals.

Yeah.

And they go through flight school. And we have a couple doing it right now, actually. And the really cool thing is that Scott Todd today is better than Scott Todd was five years ago. And that, that is well known in flight school. When you go through flight school, you're getting the best and current and most up to date, up to date version of what Scott Todd is doing in his business.

And he's more compassionate now.

Oh, wait, let me call him.

No, he's, I'm just testing to see if he's watching.

I'm just gonna box him quick and say that, you know, we're talking about you, Scott, on, on Nightcap. And I said all good things and Mike said that you were more compassionate now than five years ago.

It's true. Kind of much more compassionate.

Backhanded compliment, but we'll see what he says to that.

Phone should start ringing momentarily.

Annie, Annie Filchee. Is that. I pronounce that Annie. She's tuning in from Denver.

Welcome, Annie.

Let us know if you're new to the business, new to land investing. John says, at the time I was super stoked and was just getting underway with the mailings. And then I got super swamped at my job. Yada, yada, yada. It happens, John.

Well, we need to jump on a call and we'll, we'll, we'll, we'll fill this, figure this out for you. We'll figure it out.

Yeah, let's, let's jump on. Actually, John, shoot us a text at the text hotline. Do it and, and let's get on the phone and kind of Chat about where you are and figure out what might be best for you at this point in time. Oscar says he used to do land deals but stopped. I would look like to know how the market looks like and where is the best place to start for cheap lots.

Well, Oscar, all right, so you were doing. We got a couple of old timers here coming back.

Yeah.

Dusting off those cars. The business looks great. We're still buying 25, 30 cents on the dollar, still selling like crazy. So it's a great time. It's a great time to come and restart that engine. Just this cheap property everywhere. But, you know, probably some of the cheapest is out there in New Mexico. So check New Mexico.

And Oscar, if you've never been on Land Moto, go to Land Moto. You will find. We were talking about it today, Mike, your top 10 land investing counties. They're on Land Moto. Go there.

Yeah.

Check it out.

It's your new secret county list.

That's the new secret county list is Land Moto. Exactly. John says if you went through, couldn't finish flight school. Is there an option to redo in the future? John, we. Yes, we would definitely figure something out for someone in that situation. John says he doesn't even know how to log in anymore. When he tried to use his old credentials a few weeks ago. No longer work. Well, John, we actually moved platforms. We moved the toolkit. It used to be on Kajabi, which was a website platform. Now it's on what we call Mighty Networks. So, John, when you text us, we'll make sure that you get Mighty Networks. Yep. Renewed access and access to some new content as well. Annie says she's new to land investing and we pronounce it Philsa. Philsa.

Well, Annie, welcome. So, Annie, do you know what we do exactly? Is this your first time here? Like, let us know. Like, type in clear on the model. Not clear on the model.

I love it. I love it.

And then we'll know where to go from there on the show.

We'll know where to go.

We'll take it from there.

I did want to talk about something tonight, Mike, that it has had a great impact on me in the last week when I went on vacation. We talked about this on the roundtable a couple weeks ago. I read this book. I'm almost at the end. Takes what it takes.

Oh, did the guy recommend that one of the go one, like one of the guests.

JK recommended that. And so it takes what it takes. And then the subtitle is how to think neutrally and gain control of your life. So Trevor Mowat is a sports psychologist and he works with a lot of professional athletes. Russell Wilson. Mike's not a big sports guy, but Russell Wilson is a quarterback, okay. For the Seattle Seahawks. Now he's gonna be playing for Denver, but he's worked with national championship college football teams, soccer teams, super bowl teams, and he provides one on one coaching to some of these elite athletes in the world. And he decided to write this book because what he teaches them really applies to real life as well. And it's all about neutral thinking. So you have positive thinking, you have negative thinking.

Okay.

You have neutral thinking. Okay. So I'm just gonna read this quote to you and we can talk about it because I think it really pertains to this business and it really pertains to what we were talking about today on our working lunch call. Neutral thinking means accepting the idea that when something good or bad happens, it happens. Instead of getting caught up in the negativity of a bad past or a mistake, whether it's mental or physical, you just accept that it happened and move on. The problem with positive thinking is that when you do something wrong, it destroys that positive mindset. So I tell our athletes, instead of aiming for positive thinking, stay in neutral. It means that your behavior, which you've drilled into your muscle memory, will dictate what happens next, not your feelings.

Oh, so I like that.

How amazingly well does that apply to this business?

Yeah, because there's a lot of things in here that thinking neutral could help. Right. We were talking about today with mailings.

John says sounds very stoic. It sounds stoic. There's a comment here. It's very zen, it's very eastern. But really, I mean, we hit these dips all the time, right. In the business. And how many times do we get frustrated, we get negative, we think, oh, this business isn't going to work out. This isn't for me. But what really matters is the actions we take and the consistency that. The consistent actions that we take.

Okay.

And trying, you know, leaving those negative feelings alone, leaving even the positive feelings alone and just doing the actions that it takes to get the deals done.

It is very Zen. Like they talk about not being disappointed, not being overly excited, just.

Right. So I would highly recommend the book to people whether you're an athlete or not. Maybe you're starting a new business venture, maybe you're new to the land investing business. Maybe it's, yeah, we're a land lead. Maybe it's kicked you in the teeth a Little bit. I mean, it kicks all of us in the teeth at some point. But it all comes back to the checklist, Mike, that we talk about all the time. Our daily checklist in Land Geek. What's on the daily checklist?

Well, first and foremost, mailing and marketing. You know, the two. The two different gas pedals, right. Of this business, you know, so if you don't mail and you don't market, you don't engage the world, really. You don't engage the market, you don't engage the business and nothing happens. It's like driving in your driveway, right?

Driving in your driveway.

It's not a long ride.

Oh, man. It's very true. Very true.

That's a short ride. Beep, beep. We're there.

What other things are on your daily land investing checklist, Mike, besides mailing 20 or 30 offers? Besides setting an ad or two?

Really, it's checking in with my team.

Okay.

And then also every day I'm looking at refining one process, you know, just refining it. Remember we talked about before, when I work on the business, at the end of the day, I feel elated, I feel excited. Now I'll feel neutral, but I feel. I feel like, good. I feel really good. But when I work in the business, I feel overworked, tired, frustrated. So the more you're on it, not in it. Oh, that's the book I'm going to write. On it, not in it.

I like it. You better. Let's see. See if that URL is available.

How about on your way to overcome it?

On it, not in it. Looks like that URL might be available.

Mike better grab it. Should we do it?

You bet. You better.

You better go off of that book.

Yeah.

Onitnotinit.com I like it.

Annie has a question. What are your strategies to teach how to identify desirable lots? And what counties are you finding the quickest conversion rates?

Trick question. Desirable. That's the question. Because this is from Annie.

Yeah.

So, Annie, we don't necessarily go after properties that you or I would find desirable. We go after properties that are marketable. So desirable is great, but marketable is better. So are you going to have people out there who are going to want these properties? Are you going to move them quickly? Yes, you could say desirable to you. They might move quickly, but not necessarily, because the price point that says that you're desiring may not be quick and efficient to get your money out in the first 10 months. We want to recoup our investment quickly so we can deploy that capital again. We want to offer our buyers, the end users, low monthly payments. So there's a lot more to consider besides desirable. We want marketable.

She says define marketable.

Yeah. So marketable in the sense that we can put them out there and quickly move them. This is, this business is about velocity. We're not looking to hold off of that grand slam. We talk about it. You talk about it, Scott. Talk about the base hit mentality. That's marketability. Talk about the base hit mentality.

I talk about that.

You do? Like with Scott Todd's God awful amount of monthly income is based on base hits.

Oh, yeah, yeah, yeah. So that. I was going to get to that too. So. You know, Andy, if you're new to the business, you may not realize that a vast majority of the properties that we buy are $5,000 and less. We find that those properties sell the quickest. Those are base hits. We're hitting singles all day long buying these inexplicable properties. What's that? Yeah, we're landing, we love, we call them minnows. Minnows, Dolphins and whales. We buy a lot of minnows because they're cheap and they move fast.

Yeah.

And you know what? Minnows aren't very appealing to the eye. A lot of them. But Annie, you'd be surprised how many people out there want to or desire to own property for as low as $50 a month, $100 a month. $150 a month, $200 a month. Those properties for us, they sell fast. Mike, I don't know about you, but I can't keep properties right now that are like $150 a month on, on the shelf. They're on the shelf for like two days right now.

Yeah. There's a huge market out there right now for those types of properties. And, and we're fulfilling the need. And there's plenty of need out there. So if this interests you, you know, figure out how we're doing it. It, it's, it's worth your time depending, like, why are you doing this? Like, what's the goal? You know, that's going to be very helpful to know. Right. Are you trying to create a few thousand dollars passive income? You're trying to replace your income, you're trying to have a business that can operate without you having to do all the moving parts. Like, what's the motivation?

Right. And you know, another thing too, Andy, is just stay open minded regarding these properties because, you know, a lot of people, they might kind of scoff at $150 a month. Right. That's nothing. Land snap. Land snob. But Annie, when you do that, five, ten, fifty, a hundred times, things happen. Your life changes. You can replace your income. I replace my income as a physical therapist doing deals like that. Yeah. So, Annie, also, if you. I don't know if you've signed up for the passive income launch kit, but if you go to thelandgeek.com. what's that?

The Pilk.

The Pilk. Go to thelandgeek.com and you can follow prompts to sign up for the passive income launch kit. And there are some educational materials in there that just tell you a little bit more about our business and kind of what it looks like. And she says, she scoffs at no amount of money. That that's what we like.

So see the hotline on the screen? Text that and tomorrow we'll reach out to you, we'll set up a call and we can answer any questions you have and see if this is the right fit for you.

Love it. John. Jiki says his cell phone bill is over $200.

Well, John, you call a lot of people John.

Let's take care of it. John. That's a pretty expensive cell phone bill for one guy.

Who you calling? John?

John, you got a whole team. You pay for your whole team's bill?

Yeah. That's a lot. I have a question from the hotline.

Okay.

What is an interesting question, like to get your take on this? Oh, I'm working on putting my list together for flight school in the Excel spreadsheet template. And my question is, does it matter that the information is in the order of the way the template is set up? Excuse me. Or depending on how you get the information from the county, can the headings be in a different order?

They can be in a different order. No worries.

Because you match up in LG Pass, right?

Yep. You match them in LG Pass, so. Yeah, no. No worries with that at all.

You got it. No worries.

No worries. LG Pass makes this so easy. There was a question earlier. Let's get back to that because I was going to talk about LG Pass, which stands for Land Geek Proprietary Automated Software System. Ms. Axa is lost on how to send priced offers out in the mail. Oh, well, you have a couple options. You can hoof it like we did in the beginning, and you can lick and stick. Lick and stick and set up mail merge and spreadsheets to mail merge and all that type of thing and.

Yeah.

And print them off at home and lick and stick or you can use our LGPass software, which helps you automate your mailings. So, Ms. Oxa, you take your list of property owners and the offer price for those properties, you upload it into our software, and you click send and auto. Magically, automagically, those mailers are out the door.

Yeah, I used to have a draw, probably like you. I'd print out a couple hundred thousand.

You used to have a what?

A draw.

A draw. He used to have a draw, folks.

Yeah, I'd open it up and there'd be all kinds of awful letters in there. And I fold them, and we'd fold them and send out 20 a day.

Yeah. Out of the draw.

As I say it wrong again, I.

Mean, that could be our boss drawer. It could be our Boston leg of segment. Boston Lego Word of the week. When. When Scott correctly spells a word and Mike Zano horribly murders the word, do you say drawer? I say drawer.

I could never say that. Drawer. Drawer. Oh. Oh. Isn't that what a lion says? Roar.

Yeah. I mean, it's a lot better than draw. I mean, don't you wear draws? Yeah. Anyway, maybe you don't. John says includes 5G, home Internet, new 13 Pro, and an iPad. John, I'm just giving you a hard.

Time, but thank you for the breakdown.

Yes, John, how do you spell draw? How do you. How do you. How do you say draw? Because he's from Boston. All right, Any other. Any other. Wait, we might have one here. Hold on. Here we go.

We got a couple of people restarting. We have some people coming in new. This is great. I love the. The diverse crowd we have here.

Very diverse crowd. It's exciting. Scott, have him a potty. Potty, yeah. Here's a question from Oscar. This is a good question, Mike. Has the purchase price of properties gone up lately with inflation?

The purchase price. Some of the areas we buy in, the properties have appreciated, maybe many of the areas, but it's okay because we're still buying 25 cents on that dollar and we're still able to make the nice spread. So we just. We always are. We are always adjusting. We're always, as Scott Todd says, moving our feet so we can compensate very quickly. We have our fingers on the pulse of the market.

Nice fingers on the pulse. Yeah. I would say that. I don't know. I think there. There was actually kind of a spike last year. I think it was because, you know, there was so much talk, Mike, in the news about real estate values rising, price of homes rising.

Right.

And. And I think that our Property owners, the people that we were buying from were a little bit more in tune to that and they thought, well, if real estate's going up, my land's got to go up. So we got a lot more counteroffers, we got less accepted offers last year, that type of thing. We had to notch our prices up on our offers. We had to buy land for more expensive. But I don't know if you notice, but it seems like our response rate in the last two months is up again. And I think that may be in effect of the inflation because, I mean, groceries are nuts, gas is nuts, everything's nuts.

Yeah.

People might need money.

Cash flow could help.

Yeah, yeah. So our response rate's a little better this year so far. All right. John wants to talk about selling and buying notes. I assume the returns are about the same as tax liens, but what happens when there is a default? And what kind of due diligence should a note buyer do?

Oh, well, that's interesting. I think the note buyer in this particular instance would probably want to know the property. Right. So you want to be a good land investor. You want to know. Because if something were to go south, you take the property, you want to know what it's really worth to you and how you could market it.

Yeah. And. What happens when there's a default. So John, the note seller is going to have to continue paying you the note for the length of the loan. What's that?

Or.

Or, or, or they need to pay you. Right, right. So, so I think if you're selling a note, you need to make sure that you're selling a note that is seasoned, in my opinion. So you have a good payer. Right. So somebody's paying me $150 a month. They've done it for three, four months. No issues, it's all automated, it's ready to go. And I may not be reluctant to sell that note to some or I'd be less reluctant to sell that note to somebody than I would with a payer who's really all over the board. They don't pay on time. We have to chase them. They're not, you know, reliable. So you need a reliable buyer. And that is an instance where I might sell that note.

Right. So I wanted to show. I have a standing desk too.

When did you get that?

No, it's just my monitor. It goes up and down.

Oh, okay. You're looking down at me that you're gonna get you're neck pain tomorrow.

Can you still hear me?

Yeah, I can hear you.

I wanted to join the standing up crew.

Now Steve's on the call. Steve buys notes all the time. Steve Hodgson. So.

Hey, Steve.

He bought five notes today that only made one payment. You know, Steve's. Steve's fine. He's good.

Saw him on the hotline saying, hi, Steve Hodge and the note buying guy. That should be your website, Steve. Note buying guy.com.

Let'S see if that's available. Note buying guy dot com.

Where you been, Steve? We haven't heard from you.

Dot com. No, that one's available too.

Come on, Steve. You gotta grab it right now. NoteBuyingGuy.com.

On it, not in it. You're gonna buy that one?

Yeah, that's mine. Everybody, don't take that. On it, not in it.

On it, not in it. Any other questions out there? From the land investing nation. From land geek nation. The land geek hive mind.

Oh, I love when you say that. Reminds me of Hydra from the. From the Green Arrow.

No, dude, you got your superheroes all wrong.

Oh, they're in there. They're in that show.

Hydra. Okay, first of all, Green Arrow is dc. Hydra is Marvel. Hydra is. Is Captain America. Ish.

What's in Green Arrow? I thought it was Hydra. I gotta look this up.

It's not Hydra. Sorry. Yep, you. Some guy needs to read up on his superheroes.

Well, I used to watch the greenhow. That's what made me think of that.

Yeah, it's not Hydra. Love you. But anyway, what'd you think of the Batman? Did you like the Batman? Now, let's not give any spoilers because people out there may not.

I thought it was good. Started off a little slow. I think it got better. And I think Robert Patterson did a good job. It's like a little dark, but good.

All right. Do you think it's better?

Night. What'd they call it? The Batman.

The Batman, yeah. Do you think it's better than the Dark Knight?

Different but this. But both good. I think they'd be equally good.

Really Equal.

Well, the Dark Knight. Probably better. Doc Knight really grabbed you. Is that what Doc Knight's the one with the. The Joker?

Yeah. Heath Ledger.

Yeah. You can't. Yeah, he was really on point. So he made that. Yeah. He was a scary dude.

He's a scary dude.

And you saw, you know, there was more of a metamorphosis. Is that how you say it? Amongst different characters in that one?

Right.

So there's a real character development.

All right. All right. So we have a consensus between the two of us. We think the Dark Knights better.

Yeah. But I'm gonna have to watch the Dark Night again.

Yeah. My boys are like, this is the best Batman movie ever. I say curses. Not true. Scott Bailey, what is a good strategy for setting your offer price once you have your list to mail to Mike? Good strategy for setting your offer price. Yeah.

So if you got your list done right, which means you went to a very specific area and they're all equal size, shape, they're going to be therefore equal value, you. I would start out by certain. You know, I would have done this prior, actually, to this. But let's just start here. I would go and take the subdivision and search it out in Land Moto. I'll go to Google and just say XYZ subdivision, 1.25 acres, Arizona, whatever county, as an example, Land Moto, and it'll pull up the listings for me, and then I'll Google search it, and then I will just try to find as many comps as I can. I'm not going to take forever on this. 10, 15 minutes. Right. And then I'm going to take those and I'm going to figure out what an average is, and then that's it. I'm going to divide that by four, and away we go.

Away we go. We have a. We have a tendency to sometimes over complicate this. Right?

Yeah.

And I struggled with this when I was going through coaching Scott. Todd. How I price these things. Right. Scott, don't make it too complicated. Complicated. Ask Mark about it. I don't make it too complicated. Throw out the high, throw out the low, pick out the middle value, you're good to go. Because really, Mike, if you're within a couple hundred dollars, Right. Which I think you could be pretty well within a couple hundred dollars with your analysis of the market.

Right?

Right, Right.

Right.

What are. What are these. What do these mailings do?

Yeah. All they're doing is getting someone who's motivated to raise their hand and tell you, hey, I'm interested in this property. And discussions begin. So they're motivated, they're flexible.

Mike Zano, you complete me.

Oh, it's a love story. What's the name of that movie? It's. Oh, not Days of Thunder.

No, not Days of Thunder. Not Eyes Wide Shut.

No, not. Not that one either. Oh, Jerry Maguire.

Jerry McGuire. Show me the money. Show me the complete me. It's a conversation starter. If you show up. If you show up in that person's mailbox and they want to sell, they will contact you even if your offer is off. And Then you have a discussion. Right? So, yeah, good question.

Annie, we got your text. We'll be reaching out to you tomorrow.

Awesome. Annie. Filsa. John says any Bat. John. Come on, John. This is PG13 show. Any. Any Batman is good as long as no nipples are on the outfit. That's what George Clooney had back in the day in Batman Forever.

Did he?

Yeah.

That seems really weird.

You know, there's more Batman coming this year, Mike, which is very exciting. Have you heard about this? The Flash movie's coming out.

And is Robert Patterson in it?

And there's multiverses and Batmans. Michael Keaton is coming back.

Oh, he's back.

His old Batman.

I hope they don't go too far back. He might come back. As in the multiverse. He might come back as Mr. Mom.

He might. Yes. Or Beetlejuice.

Imagine that. Whoa. We went too far in the multiverse. That's not Batman, that's Beetlejuice.

What? What? What?

That'd be the real twist. Oh, you got Beetlejuice and then you got Batman.

And Bat Fleck's gonna be in that one, too.

Really?

Yeah.

He does a good job. I thought it was more realistic. Like, the fight scenes weren't really like, you know, he was just like, crazily strong, which I did. Where there was. There was some real grit to it in.

In what? Who are you talking about?

Patterson.

Oh, Pat. No, he's not gonna be in it. That flat. Bat Flack. Bat Flack. Ben Affleck is going to be in it.

Oh, you call him Bat Fleck?

Yeah, I call him Bat Flack. The reason we're rambling like this, folks, is because we don't have any questions coming in. But really why we're here is to answer your questions about land investing.

Well, yes, and we're also here to engage people. We realize that, you know, four years ago, by the way, we're in a fifth year.

Yeah.

We do something big for year five. Where we going? I don't know.

We got to go somewhere, live and set up a studio.

I say it would be like an Aruba at the end for year five.

I like it.

And so we decided that we knew there were people coming home from work, having their dinner, and then going on and doing some land investing work in the business. And we've decided we come on and bring a little light heartedness to that and some support and answer some questions. So this is really for you out there. We ramble like this all the time together. We just ramble live so people can Ask questions.

We like to ramble.

The live Rambling show. We were gonna call it that. No, we weren't. But we could have.

The live Ramble show. Yeah, we could do that. You know what I love about this business, Mike, is that I was on vacation and we did three deals. Two terms deals and a cash deal.

Yeah. Yeah, it does feel good. The same we were when we were on vacation, similar things happened. And you know what? It's because we both did one thing right. We built. We built a model that can. That can handle itself without us having all our say and all the moving parts.

We built this city.

We gotta do another musical.

Who sings that?

Not Ario. No, wasn't Ario Speedwagon.

Audience. Audience, who sings that? We built this city and what year. I like that game.

Hey, so we could do that song. We built this business on what? Not rock and roll. We built this business on.

Mailing and marketing. Oh, man. Starship.

Starship, yes. We built this city on grit and soul.

Formerly known as Jefferson Airplane. Jefferson Starship. Formerly known as Jefferson Airplane.

Yeah. Yes. Now, who's the lead singer?

Oh, that I don't know. Sorry.

All right.

Sorry, Sorry.

Oh, got another question here. Boom. On the hotline. I love having the hotline open. I get to get involved.

Yeah.

Hey, guys, how. Oh, this question. Ever heard this one before? How long do you continue to work a county? Do you just. Do you work section of the county at a time? All right, great question, Scott. How long before you've been doing this now? Since when? How many years?

Approximately six and a half years.

So do you have any counties you started six and a half years ago and you still work on them?

Yes.

All right. So we continue to work. Listen, the way Scott and I think about it is we're mining deals. When you're mining, you're going in and you can constantly extracting deals. Scott Todd says that 80% of his business comes from this small subdivision. He's constantly mining deals. We teach that. Find an area and become an expert and just keep going in there, keep pulling out deals. And then so you really probably. If you pick an area like we do, won't exhaust it ever.

Yeah. What's interesting is the deals have not dried up in that county. And I mean, we do more deals there every year, typically. So there's so much land out there, it's nuts. Craziness. So, Cody, he may have asked the same question here. How long do you work a county? Could be your lifetime. Tate talks about a guy, Mike, that he works in the Same. He's worked in the same county for like 30 years. He's only been in one county.

Yeah. Yep. So people like that. Yeah, for sure. Absolutely.

Awesome. Colin Brewer. Are you gents doing any arbitrage deals? So Mike, you. Any land? Our properties?

I don't have any right now, but every so often I, I don't, I have, I don't really like doing land outs right now. You know why? Because like you said, the properties are just moving off the shelves.

Yeah, they really are. I got a bunch coming in, but I, I kind of want to keep them.

Know a little bit about those.

You might, you might. We got to figure out what to do with those babies.

I think there might be some landob out there coming soon because. Yeah, listen, contrary to probably believe it's not properties that people can't move and now you're obbing their junk. That's not the way it is.

Yeah, there's comments about that in the Facebook group. Why are people wholesaling to other land investors? Why are people doing this land art stuff to other land investors? It's because they're stuck with the property.

No, it's because they have a surplus of inventory and when there's a surplus of inventory, it's just another way to move them quickly. It's just if we look at the numbers, this I love something I think Scott Todd talks about. You know, you're cold and analytical. You look at the numbers. If it makes sense, you sell the deal. We could hold out for retail, but if we can do it in a way that will make a decent return and the investor, the buying from us can make a decent return and it moves quicker, then why wouldn't we move it that way? It's not about holding on for the. We're not huddling looking for the best, highest price. We want to move them quickly. Turn and burn.

Turn and burn. Awesome. In the same vein, Mike Alara has a question. Is it true that the land investing market is saturated? I read that potential sellers are being flooded with mailers. How can a newbie compete or get noticed?

Yeah, no, we cannot saturate it. There are some areas where many people tend to gravitate, but even in those areas, people such like you're talking about Scott, you're one of those areas still mining deals because he doesn't believe that they're going to dry up. He believes if he's consistent with his mailing, he'll consistently find deals. And that's how it works. So if you're brand new and you had that belief and you had that determination, you would mind deals. But there's also, that being said, a ton of other areas you can go to once you learn how to find the areas the way we show you you're not bound by one. And it. Even though we say stick to one, it might take you a few times to kind of find the right one for you. There's just, you know, I was at. Someone was asking like, how do you know it's. It's your area? I said, well, not to be too woo woo, but it does speak to you. All of a sudden you're like, hey, I think I don't know the price point. Something about that. It fits me. I like it. It's, it's. I'm embracing this area and I'm now going to work the area. So that's just the way it goes.

Yeah. You know, when you work in an area with other land investors, it just shows you that there's a market there for buying and selling land. And that's a good thing. Mike, in one property, in one county, I have almost. Well, let's. I have a lot of properties.

Okay, you can say it.

Well, I have a hundred properties in one county on terms right now.

Wow, that's a lot.

Yeah, and no, not that many. 80. 80 properties on terms right now. But I keep track of, or we keep track of offers that come in. Okay.

For your properties.

For our properties. And just because we like to just keep track of.

So in pretty geeky of you.

Since January 1st of 2022, guess how many offers we've gotten for our properties.

Oh, 25, 10. Oh, see, I was buying.

What's that?

I was buying into the rhetoric. I figured it must be at least 25.

The rhetoric. No, just 10 offers that we've received in the first three. Three months of the year.

And those could be, you know, to put more perspective on that. Takes a while for the assessor sometimes to change over the record. So that could be based on 150 properties you bought and sold there, you know?

Yeah.

Not just the 80.

Yeah. So I don't think you have to worry about it, Alara. I think what you have to worry about is being consistent, consistently mailing and you will find an area where this works and you will hit somebody on the right day with the right offer and they will be motivated to sell to you. And even if they aren't motivated to sell today, you'd be surprised how many people. Save your information. We just got an email yesterday, Mike, from a gal we Sent her an offer letter. We sent her an offer letter two years ago, and she answered email yesterday.

Yeah. And so wouldn't you think that she would have received other offers between now and two years ago?

You would think so. Yeah. So I don't know why she saved mine, but she did.

There's no rhyme or reason. It's timing, consistency, timing, consistency.

And action. Bud's here. What's up, Bud? He appreciates all the golden Nuggets, all the gold nuggets we share, Bud. Thank you, sir. We're happy to be here. We're coming up on an hour. Well, we're a little bit late, but coming up on Tomato Tomato. It's fine. What. What, what day we doing nightcap next week?

Mike, what day is today?

Today is Thursday the 22nd, so it'll be Wednesday. All right, so we're doing nightcap on Wednesday? Yes, we're going back to 9 Eastern. Sure, sure.

What's the. What's. What's the crowd think?

Well, we got 20 people. It's a little less than normal.

Usually we have 20,000, so. Yeah, it's a little down.

John likes. John likes nine Eastern. He likes that better.

All right, John, you got it for you, John.

I'll do it for you, John. And I do owe some T shirts to people I haven't forgotten about. You remember that, Mike, when we gave away some T shirts at our four year anniversary?

Yeah, I love that.

And we need to give away a T shirt tonight, so.

All right, what's this? See, so last time we asked a question and the first person to chime in, sometimes it was a tie because we have two different platforms or three. So what's the question? Would you like to ask them, Scott?

That's a good question.

Maybe pick something from a recent podcast. Who, like, who did we interview? That. Yeah. How about that one, Scott? That a good one. Okay, who did we interview on the round table recently that founded a pretty cool tech company? Techie. Techie, I wouldn't say, but techie. Techie type company. Yeah, his name. You could just say the business. Yeah, business was that.

Now you can't win more than once. So. John, I'm pretty sure you have a T shirt.

John already got it.

No, I think he already has a T shirt is what I'm saying. So he can't win again.

You can either name the guy or the business he founded. Does anybody listen to the roundtable?

It's a pretty cool show that. Kind of a pretty cool interview.

This was a great. This guy was spitting out all kinds of knowledge. It was awesome.

That was a lot of fun. Oh, John hasn't gotten it yet. Okay, John, feel free to answer. Who did we interview on the roundtable?

Why are you picking on John?

John's a good sport.

What business did he fund? Found, Create, Start, Establish?

Anyone? Anyone?

Pick another question.

Anyone? We're gonna pick a different question.

Give them some time. Hold on. We'll give him some time.

Oh, John has won. When? It just hasn't gotten to him yet. I know, John. It's coming. I know. You've won one. It's coming. Might need to go with a little bit better, a little bit easier question, Mike. All right, the answer was Richard Thallmeier. He's the founder of Sharper Image. You guys remember that store?

Great store, great guy. Yeah. Anyway, now you should go look at that podcast because it's amazing. All right, let's see. Let's go back to. Ah, let's see. All right, well, we could do something. That'd be too easy. Oh, yeah. Let's do this.

Okay.

We used. You know, he was not as busy as he is now, but we used to have this. This. This fellow named Matt Forbes on the show with us. What was his original role in the Nightcap?

His original role on the Nightcap. That's a tough one, too, buddy.

Come on. How's that tough?

They just haven't been around. Our viewers haven't been around that long. Here's a question while they think of that. How do you pick a good county to mail offers to? Also, is at least 1,000 vacant land properties good to start?

Yes, thousands. Good. We pick it by looking at sites like Lamb Moto, seeing what other investors are looking at the county information based on what we see there, and establishing if there's a market for the properties and if there's. If there's an opportunity. Which means is there a thousand or more properties?

Awesome. John says spirit animal. No, John. So this may be before everybody's time.

Wow.

Back in the day when we started Nightcap, Matt Forbes would come on very briefly as the refill guy. He would come on. He would. He would give us short toast and help us refill our drinks, and then we boot him. He'd come on for, like, two seconds.

So Greg Heinz did get the shopper image. I'm not sure who did. Yeah, who did? So, yeah, Greg Hines.

All right, he's the winner then. Greg.

Greg Hines.

Greg, text us your T shirt size and your address, please, and I'll be sending you this. This gem right here. Look at this thing. Ah.

Ah.

Pretty soon, Mike, we're gonna see these out and about when we're shopping for groceries.

I'd like. I don't know if I'd like a large or an extra large. Which. Which one would be better for me?

They were a little big, so. Lodge. I'll send you a lodge. I'll send Laura. I'll send Laura. Does she like them big or small? I'll send her a medium.

All right, let's go with final question tonight on the hotline. Looking at a property on the last D. They misspelled the word living. Trust. The word living had two Ls. What should I do about that? I just call the county. I don't think that one. You know, typically we match the spelling exact. That's an interesting question. I don't think you'd. I think you'd spell it the same. Although maybe I would just write it like that. I don't know. What do you think, Scott?

I don't think that's going to be an issue. You can call the county to. To check. I don't think that'll be an issue. Now, if there was a misspelling in the legal description or. Or something like that, that might be a bigger issue. But. So, yeah, I would just call it. I don't think that'll be an issue.

I got 3x for Greg Hines. And I got the address.

All right, sounds good.

Thanks, Craig. Great job.

Well, everybody. Thank you, guys. Darren Nichols. What's up, buddy? What up, everyone? Darren, if you're just tuning in, it's Mike's fault. We're here an hour early. He's. He was tired, so we came on early.

So tight. Who sings that song? I am so tired. So tired.

No, don't know.

The great Ozzy Osbourne.

Oh, right. Yeah. I just couldn't make it out. All right, thanks, everybody. Have a good night. We will see you.

Have a great night, everyone. Thank you for coming.

We'll see you next week. Wednesday, April 27th.

Nice.

All right, thanks, everybody. Have a good night. Talk to you later.

Ciao now.

Bye. Bye.