Today, the Richer Geek is proud to introduce the land geek. Mark Podolski, he's widely considered to be the country's most trusted and foremost authority on buying and selling raw, undeveloped land. Today, Mark will share his journey into the world of buying, selling and leasing raw land as an investment. He has actively invested in real estate and raw land for almost 20 years, and has completed over 5000 unique transactions during that time.

Mark has been actively investing in real estate and raw land, and has completed over 5,000 unique transactions. Mark’s company, Frontier Equity Properties, LLC, is an A+ rated BBB real estate company. Mark has achieved this level of success largely due to his core business philosophy – “Happy Customers Guaranteed.”

In this episode, we’re discussing…

[2:11] Why is the best passive income model?
[3:11] How he works and how he deals with Land property after he pays for it
[6:42] The advantages vs. real estate business
[8:08] The ROI of this kind of deals
[10:17] About his book and how he started, avoid mistakes investing, and the importance to get a mentor.

[13:55] The different ways you can invest in the raw land to create passive income
[15:30] How they help people to get economic dependency and high-income earners who have money, but they don’t have time
[18:04] The importance of automation and how saves time with it, and the program they created for payments
[21:12] The minimum amount to invest with them and annual return yield expected
[23:11] They offer to the listeners for free, the course “How to double your money three days or less”, it’s usually $97

Mark’s Top Tip’s

“I think it's the best passive income model. It's a one-time sale. We get recurring income every single month. But no renters. No rehabs, no renovations, no roads. And because we're not dealing with a tenant”
“Now I own the property, and I'm going to sell this property 30 days or less, I'm going to make a cash flow. I have a built-in best buyer, do you know who it is? Tommy, the neighbors, the neighbors. I'm gonna send out neighbor letters saying, here's your opportunity, protect your privacy, protect your views, know your neighbor. And oftentimes neighbors will buy it now if they pass, I'll go to 3 my buyers list. If my buyers list passes, I've got a little website you may have never heard of, called Craigslist is the 10th most trafficked website, United States, I go to a smaller one Facebook marketplace, I sell groups”
“I'm going to make it irresistible for my new buyer. So often ask for is a $25 000 down payment to control these 10 acres. I'm going to get my money out on the down, or I might go six to 10 months out. And then I'm making a car payment, let's say for 49 a month 9% interest over the next 84 months. So now I've got 449 a month coming in for the next 84 months. Don't have to deal with any tenants, toilets, termites, trash, no headaches, and the game we then play can we create enough of these land notes where our passive income exceeds our fixed expenses? And now we're working because we want to not because we have to.
“Put in improvements is very risky. And even to get shovel ready for the developer is a completely different model and much riskier. So, I'm happy to make my 300 to 1,000% ROI on these deals.
“The mistake I made was, the first one was I didn't have a mentor. The weird thing was when I first started, I was doing really well right out of the gate. I thought I was the smartest person in the room. So, I lacked humility.
“I understand cash flow management, I now use a program called profit. First, I understand just the fact that what makes Mark happy. I talked about it in the book, but I had Parkinson's Law of money. So, the more money I made, the more money I spent, thinking that's going to make me feel good or be, successful. And it was a great kick in the head of a delicious, humble pie, which didn't taste that good at the time”
“I have a very simple mission that I've been working on, it's helping people get out what I call solo economic dependency, which means if they're personally not working, they're not making any money. So, think about somebody with a job. lawyers, doctors, dentists have a dentist who doesn't have his hands in somebody's mouth. He's not generating any income”.
“If I can automate it, I'll spend any amount of money to save two seconds of my time, because like, I can always make more money. I can't get more time. One of my favorite places I spent every day is on Zapier. I love Zapier. And so that's one of my favorite sites. We created a program called LG pass comm that automates our mailings and automates our actual deal flow”

Mike’s Top Tip’s

“Get a mentor, even if that mentor costs, and it should cost money. You should be able to be should pay for the knowledge of not making the mistakes that that person made. And I think that's fantastic. It's paramount”

Resources from Mark

Why Land Investing is the best Passive Income model?

Resources

Podcast