#44: How To Generate Passive Income Through Land Investing with Mark Podolsky
Mar 04, 2020
If you haven't figured it out by now, I love success stories and especially ones that include stories of burning the ships (see Cortes). Mark Podolsky, a/k/a the LandGeek was living the 'slow death' in corporate America when someone he was working with told him about buying land on the courthouse steps. That's all it took for Mark to change his life and burn the ships.
Listen to all our episodes and leave a review: HERE
Download Podcast: HERE
Subscribe: Apple | Google Play | Stitcher | Spotify
How To Generate Passive Income Through Land Investing with Mark Podolsky
Since becoming a burned-out Corporate America employee turned land investor, Mark has learned quite a bit and shares it with us today. As a land investor, Mark likes to have a 300% margin of safety. This means if he can break-even purchasing a property for $10,000, he'll never offer more than $2,500. The way Mark is able to get his deals so cheap is because he makes offers on the lowest hanging fruit... people who are delinquent on their taxes.
After someone accepts Mark's offer (whichever hovers around 3-5%), Mark does his due diligence and bring his team in to start the analysis of the land. If the land is over $5,000 Mark goes through a title company. Mark has his process so refined that his averages doing a deal per day with doing over 5,000 since his started in 2000.
Because of Mark's success in land investing he only works one hour per day taking off Monday and Friday included for what he calls his 'terminal days.' The terminal days allow Mark to strengthen and grow his relationships. If your someone who was like Mark and wishes to get out of social-economic dependency, then this is the episode for you!
In this episode you'll also learn:
- The places Mark goes to find land
- What type of contingencies to include in an offer
- How Mark got started in land investing
- What states to buy raw land from
- What type of terms to set your land offer at
Connect with Mark:
We Need Your Help!
Help us reach a broader audience on iTunes by leaving the podcast a rating and review. It takes just 30 seconds! You can leave a review by going: HERE