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Have you ever wanted to get into real estate, but didn’t want to deal with renters, rehabs, or rodents?
Enter Mark Podolsky, the Land Geek. He’s been involved in real estate since 2001 and hasn’t dealt with a single tenant. He scrolls through the tax records of counties, finds the properties with outstanding taxes due, makes an offer to the current owners for less than it’s worth but more than the taxes they owe, and then turns around and sells the property for a 300% return. He could sell the raw land to the neighbors…. or anyone that’s interested online.
The potential to make crazy income is totally there! Mark has a fantastic story and you’ll be dying to get into the raw land business when the episode is over.
This is one you’ll want to listen to multiple times.
We also chat about…
-
- solo economic dependency
- the true goal of financial independence
He was an absolute delight to speak with! Enjoy this chat with Mark, and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- landsofamerica.com
- landmodo.com
- geekpay.io (Disclosure: Mark founded this company)
- Click2Mail
- lob.com
- Dirt Rich <– Mark’s book
- TheLandGeek <– Mark’s Website
If you’d like Mark’s $97 Passive Income Launch kit course for FREE, email support@thelandgeek.com and put “Fire Drill” in the subject line! Thanks Mark!
Key takeaways from our chat with Mark:
1 – Do your due diligence!
Make sure everything checks out before you buy the property. Ensure the following:
-the person listed still owns the land
-there are no liens or encumbrances on the land
-the chain of custody for the property hasn’t been broken
-there’s legal access to the property.
2 – The best buyers are….
The neighbors next to the property!
But how many people have a big chunk of change on hand to buy the land next door? Very few Americans can come up with as little as $400 in an emergency, so Mark had to get creative.
Instead of forcing people to buy it at full price, full stop, he instead lets people spread out the payments over time into reasonable bits – like buying a car. Maybe $10,000 is too much, but $449 a month could be doable. That property could be fully theirs in as little as 2 years at that rate!
If the neighbors can’t afford to buy the land even with a payment plan, you could always turn to the internet to sell the property.
3 – Building passive income with raw land
Buying and selling raw land in big $10,000 (or more) chunks is awesome, but as stated above many people can’t afford all that at once. Instead, you get 4 or even 5 property deals going at one time and all of the sudden you have 4 $449 payments coming directly into your bank each month….. for the next two years!
No renters…. no rehab…. no rodents. Just pure passive income coming in your pocket!
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