• John Casmon

Investing in Raw Land with 300% Returns with Mark Podolsky, Episode 74


Mark Podolsky was an investment banker back in 2000, analyzing income statements in search of the diamond in the rough. So, when a co-worker stated that he was getting a 300% ROI on land investing, he thought it was too good to be true. He took a road trip to the auction and used funds set aside for car repairs to buy his first land investment. 18 months later, he quit his investment banking job to focus on land investing full time. Since then, Mark has completed over 5000 deals and authored the book, Dirt Rich. Known as The Land Geek, Mark joined us on this episode to share key tips and insights about this less common niche in real estate – land investing. Mark talked about its advantages, risks, market, and how to get started (even without a capital).

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Key Market Insights

  • An investment banker back in 2000, where he met his mentor, a co-worker, who flipped land online

  • Bought first land investments in New Mexico in 2001

  • Auctioned land online, and wound up with 300% ROI

  • Became a full-time land investor after 18 months

  • End Buyers of Raw Land: doomsday preppers, military, people who don’t like people

  • Advantages of Land Investing: Higher Margin, Land Investing Contract, Legacy Investment, No Capital Required

  • Land Investing Contract – investor owns the property until all the promissory notes are paid

  • Current Land Investing Model: Look up comparable sales; send an actual offer based on lowest comp; double check the taxes; verify ownership

  • No. #1 Audience of Land Assets - Neighbors of the land, then land buyers list, craigslist, facebook and finally raw land websites

  • Hot Markets: Arizona, Nevada, New Mexico, Colorado, California, Oregon, Washington, and Florida – growing areas with an abundance of inexpensive, available raw lands

  • Land Investment Market vs. Housing Market

  • Risks Involved in Land Investing: Poor due diligence and overpaying

  • Characteristics of a Good County: A number of raw inexpensive land (at least 200 parcels), and about 2-3 hours from the nearest city

  • How to Get Started without a Capital: Lock up the property. Start mailing potential buyers. Do a dual close.

  • First Step to Land Investing: Find a good mentor

Bull’s Eye Round

Winning with Land Investing: Buy right. Find the lowest qualms, and divided it by 4.

Tracking Market Changes: Constantly looking at markets, research, and technology.

Daily Habit: Meditate.

Resources

GeekPay

Raw Land Sites (Naco.org, Landmodo.com, LandsofAmerica.com, Landflip.com, Landhub.com)

The Art of Passive Income Podcast

Dirt Rich by Mark Podolsky

Headspace App

Book Recommendation:

Essentialism by Greg McKeown

Blue Ocean’s Strategy & Blue Ocean’s Shift by W. Chan Kim & Renee Mauborgne

The One Thing by Gary W. Keller

Digital Resources

Airtable

SmartSheet

Podio

Zapier

Tweet This:

“Land is the only thing that lasts.“

“Preppers, military and people who don’t like people, all love raw land.”

“40 acres is the size in most demand”

Places to Grab a Bite:

Los Dos Molinos

The Mission

Barrio Café

Connect with Mark

Website: http://www.frontierpropertiesusa.com

LinkedIn: https://www.linkedin.com/in/thelandgeek