Stick Like Glue Radio #200
On this special episode of Stick Like Glue Radio, I interview entrepreneur and real estate investor Mark Podolsky. Mark has a very unique niche within the real estate niche and created a passive income stream. Don’t miss this powerful show!
Main Questions Asked:
- How did you come up with ‘The Land Geek?’
- Has ‘Happy Customers Guaranteed’ always been your business philosophy?
- What is the average person who buys the land doing with it?
- Talk about your two podcasts and training programs.
- What do you say to people who wonder if their idea is good and worth pursuing?
Key Lessons Learned:
Happy Customers Guaranteed
- Real estate is not a matter of ‘if’ you are going to be sued, but ‘when.’
- It’s never a good idea to fight with a customer, and conflicts will always occur.
Selling Raw Land
- Prior to 2001, Mark was an investment banker who specialized in mergers and acquisitions to acquire mid-market companies.
- Mark bought 10 half-acre lots in the middle of New Mexico at a tax deed auction for $300 each. He put them online and sold them in 30 days for more than $1,200.
- He did the same in Arizona, and made $90,000 cash in 6 months by selling inexpensive lots.
- Once the land investing income exceeded the income from the investment banking, which took about 18 months, Mark quit his job.
The Business Model
- Buy an asset 20-30c on the dollar, then flip it for online cash for 75-80c on the dollar.
- The best way to get passive income is to get owner financing.
- 90% of the investors are legacy investors who want to own an asset they can afford and will maybe one day use and improve.
- People who invest in land, hoping that one day people will buy and build on it, are passive growth investors.
The Land Geek Podcast
- This was Mark’s first podcast. He produced it for a year, and had 90 episodes but got bored.
- The second podcast is the Best Passive Income Mark interviews experts about general success, and is not as much in the real estate niche.
- The third podcast is The Art of Passive Income, which will look at passive income models such as ATM and mobile home investing, buying a cell tower, and website flipping.
- The Investors Toolkit walks users through the 5 systems in buying and selling raw land.
- There is no longer a knowledge gap and secrets, so if you have more time than money, there is a lot of free content.
- Today is the best day to be an entrepreneur.
- These days you can test an idea for $100 or less, and there is no idea not to test.
- The ‘ask and survey’ methodology is a great way to find out what people want and to solve the problem.
- Mark believes not having a mentor really hurt his entrepreneurial journey. He ended up finding coaches and a personal board of directors.
- You don’t know what you don’t know, so in order to get to the next level, you need mentors and advisors.
The Best Passive Income Model (podcast)
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What does it take to have happy customers guaranteed? Find out w/ @TheLandGeek @newsletterguru https://www.getjimpalmer.com
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