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DGS 113: Land Investing for Passive Income with Mark Podolsky
Description
Do you work because you want to or have to? Have you ever considered investing in land to generate enough passive income that exceeds your fixed expenses?
Today, I am talking to Mark Podolsky of Frontier Equity Properties. Mark's passion is investing in land, creating wealth efficiently, and helping others develop their inner geeky entrepreneurial spirit. He's known as, "The Land Geek," for buying and selling thousands of raw and undeveloped land deals. Also, he's the author of Dirt Rich, a guide to building a passive income model in land investing.
You'll Learn...[02:40] Beat Friday Blues: How and why Mark became a land investor.
[05:40] Breaking Down Passive Income Model: No emotional attachment to land and distressed financially.
[07:26] Property Checklist: Due diligence to confirm ownership, back taxes, no title breaks, and no liens.
[08:25] Buy the property free and clear, and sell it in 30 days or less.
[08:40] Neighbors: Built-in best buyers to protect privacy, views, and expand holdings.
[09:09] Other Options: Sites with specialized buyers and sellers of raw and undeveloped land (i.e., Craigslist, Facebook, Land Flip, Land Moto).
[10:00] No renters, rehabs, renovations, and rodents; exempt from erroneous real estate legislation.
[10:48] Price Point of Fixed Expenses: Typically, $10,000 a month in passive income.
[12:05] Operating Entity: Spend a few hours a day on land investing business, and automated software/virtual assistants do the rest.
[14:35] How to get started? Everything is hard in the beginning. Embrace the suck.
[16:00] What Mark loves about land investing? No physical inventory, no competition, inefficient market, one-time sale, and passive income.
TweetablesCore Business Philosophy: Happy customers guaranteed.
Raw land is the best passive income.
There's nothing not to love about land investing for passive income.
True Wealth: Work where you want, when you want, and with whom you want.
ResourcesWarren Buffett's Margin of Safety
Dodd-Frank Financial Regulatory Reform Bill
Real Estate Settlement Procedures Act (RESPA)
TranscriptJason: Welcome, DoorGrow Hackers, to the DoorGrow Show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing your business, and life, and you're open to doing things a bit differently, then you are a DoorGrow Hacker.<