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!

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 Passive Income

 

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.

 

Training Programs

  • 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.

 

Pursuing Entrepreneurship

  • 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.

 

Lessons Learned

  • 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.

 

Resources:

The Land Geek

Frontier Equity Property LLC

The Best Passive Income Model (podcast)

 

Click to Tweet:

What’s involved in selling raw land? Find out w/ @TheLandGeek

@newsletterguru https://www.getjimpalmer.com

What does it take to have happy customers guaranteed? Find out w/ @TheLandGeek @newsletterguru https://www.getjimpalmer.com

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5-star rating and review in iTunes!

Your Host: Cap't Jim Palmer, The Dream Business Coach

Cap’t Jim Palmer, best known internationally as the Dream Business Coach, is creator of the Dream Business Mastermind and Coaching Program and host of Dream Business Radio – a weekly podcast based on Jim’s smart marketing and dream business building strategies. He is also the founder of Success Advantage Publishing.

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