All Forum Posts by: Mark Podolsky

Full Time since 2001. Buy and flip raw land and hold notes. Not as sexy as SFH, but much less competition in my niche.

Hi @Alfred Green,

I only deal in raw land simply because its easiest to acquire with a lower price point, has less competition and more potential for appreciation. Just like you wouldn't want to buy a SFR that is already been fixed up to try and flip, the same concept applies to raw land.

There are many inexpensive, creative ways to improve raw land and increase value to a buyer. Some of them are as simple as just surveying the property and staking the corners.

@Seth Williams is dead on. Unfortunately, there is no such thing as a "push button" system for real estate or any other business. This is marketing hype and why the "Gurus" quickly lose their reputations, as inevitably the customers are disappointed when they discover it just isn't that easy....

My advice is to take a Ready Fire Aim approach. Start making offers, and stumbling through the process. You'll learn more by doing than anything else. That doesn't mean you shouldn't educate yourself, but do both at the same time. Offers during the day, read at night. You may get a new idea or concept that can help you and your team, and then apply it, test it and measure it. What works for some of the BP community, may not work for you and your niche.

As Bob Parsons, the founder of GoDaddy is famous for saying, "Whatever doesn't get measured, doesn't get managed."

Hope that helps.

Hi Alfred Green, I have heard lots of good things about Jack and his products as well. I have a different approach when it comes to sending offers and due diligence. In fact, many of my students come to me after first going through Jack's course.

They tell me that both will give you a sold background of the basics for getting started from due diligence, creating deal flow, safely closing, marketing your land and then selling it.

Seth Williams is dead on! Land is a different type of niche from housing, has much less competition, but you want to get on solid ground with due diligence, before hitting a tax auction or approaching owners whom are delinquent on their taxes.

When I first started, I found out the hard way about title clouds, IRS liens, buying land that didn't have legal access, water issues, soil issues, etc.

Nevertheless, I've been buying and flipping full time since 2001 and continue to do so while I believe Jack is teaching full time.

Let me know if you have any other questions. I love this niche!

Alfred,

I started with $3k. I know Jeran Fraser, whom I podcast with, started with $800. You can really get amazing deals at the right tax sale auctions when you start.

There are other ways to lock up property with option offers as well and work double closings.

Plus, I have an investor friend that specializes in wholesaling out deals never putting a dime of his own money in and doing very well.

Curious to hear what other BP members have to say.

Welcome to the BP Forum. You'll definitely make the contacts and receive useful information to help you achieve your passive income goals!

I spend about 20 hours a week managing my Virtual Assistants and handling the marketing of inventory. They handle sending out offers (300 a day), deal flow, due diligence, mapping and then distributing my acquisition to the various listing sites. I focus 80% of my time on marketing and the other 20% on customer service. For good VA's check out elance.com guru.com odesk.com and even fiverr.com.

Best of luck.

Hey Vincent! You'll find the community at BP very helpful. Tons of useful information. My advice. Get started NOW. Time is the biggest deal killer out there.

Best of luck.

Very funny you just mentioned the Ready Fire Aim approach as I'm currently reading the book Ready Fire Aim written by Michael Masterson (Its a must read by the way). His big argument is that time kills good ideas. Certainly use BP forums for help with specific questions regarding deal structure, contracts etc., but certainly start making offers today.

Once you think you have a great deal then "Aim" and start utilizing the BP community. The last thing you want to do is "study" your real estate niche for the next few years until you feel you are competent. It will only make you more confused. There is no better teacher than doing.

Get started now... I guarantee you their are local investors right now aggressively making low ball offers and structuring deals. Start doing the same. Especially with a buy hold approach you'll have an advantage over flippers.

Best of luck.

Elizabeth,

Wow... You are way ahead of most people. Congratulations and much continued success. I think you'll get a lot out of the BP forums.

Best of luck.

Mark

Welcome to the BP community! If you've ever thought about raw land as an additional source of passive income that's my specialty. Nothing wrong with rentals and plenty of BP experts here to help you.
Best of luck!