To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/

Are you feeling lost and uncertain after a layoff? Don't worry, you're not alone. I know firsthand how difficult it can be to suddenly find yourself without a job, but I'm here to share with you how I turned my layoff into an opportunity for success. In this video, we'll be discussing the steps I took to start my own land business and how you too can work for yourself after being laid off. It won't be easy, but with determination and the right mindset, you can turn your misfortune into a chance for growth and success. Don't give up, let's start building your future together!

Let’s Connect

For coaching and courses go here - https://www.land.mba

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Investing in land (Land Flipping) can be a lucrative and rewarding opportunity. Land.MBA is here to help you learn to use your entrepreneurial spirit to achieve financial stability and independence through flipping land. From finding the right property, to developing a solid business plan, we cover all the essentials of making a profit through land investing. With practical tips and expert advice, this show is a must-watch for anyone looking to make money from home.

Starting a land business can be a great way to make money from home. Not only does it offer the potential for financial independence, but it also provides a number of other benefits including job stability, and no limit to how much you can achieve.

Starting a land business can be a great way to make money from home and achieve your financial goals. Whether you're looking for a side hustle or a full-time business, investing in land and entrepreneurship can help you build a better future for yourself and your family.

Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/

Are you struggling to effectively manage your team of virtual assistants (VAs)? Do you feel like you are unable to find the right VA for your business? In this exciting video, we'll reveal our top tips for managing VAs to increase workflow and make more money! This expert leadership advice will help you get the most out of your VA team. Whether you're new to VA management or already have a team put together, this video has insights for anyone looking to improve their VA relationships and take their small business to the next level!

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For coaching and courses go here - https://www.land.mba

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Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/

In this episode, Howard and David discuss the recent SVB bank crash and what it means for land investors.

The recent SVB bank crash has created an interesting situation for land flippers. The crash has caused some uncertainty in the market, and this can be a great opportunity for those looking to invest in land.

With the market in flux, it's a great time to get into the land investing market. Investors can take advantage and find some great deals. Plus, with the market in a state of uncertainty, you may be able to negotiate better terms and conditions for your purchases.

We're not saying that the SVB bank crash is a good thing in and of itself, but we do believe that it's created a unique situation that land investors can take advantage of. If you're interested in flipping land or getting into the land investing market, now is a great time to do it.

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For coaching and courses go here - https://www.land.mba

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Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/ ============================================

============================================Let’s Connect

For coaching and courses go here - https://www.land.mba

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Facebook - https://www.facebook.com/mylandmba

Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

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Check out https://www.familyplaybook.com/

To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/ ============================================

============================================Let’s Connect

For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

Facebook - https://www.facebook.com/mylandmba

Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

View Details

To book a free phone consultation with Howard and David to learn about your future in land flipping, schedule here: https://bit.ly/3qElQf8

LandSpeed Websites offer an all-in-one service for land investors: https://landspeed.website/

The best-kept secret in the land funding industry: https://www.parcelfunders.com/

We got our viewers the best rates at Rocket Print: https://www.rocketprint.com/lp/land-mba/

With a Traveling Mailbox you can view your postal mail online anywhere in the world : https://travelingmailbox.com/?ref=1388

Your Land Loans (Mention Land.MBA): https://www.yourlandloans.com/

Download our Free App: https://land.mba/free-app/ ============================================ 99.99% of people must get past 2 milestones before getting started in the land business:

They must believe in the business

They must believe in themselves

Believing in the business Unlike when we started, there are more people in the business, more podcasts, more blogs more proof that money is made. Some people need a higher level of proof. They must complete a successful deal before they believe in it. They must do some deals before they are willing to invest in their education and training. This is alike a doctor saying, I want to complete a few surgeries before I decide to go to medical school. In fact, this is not a lack of belief in the business, it's questioning the business to mask a lack of confidence in the individual to succeed.

Believing in one's selfThis is really where the rubber meets the road Entrepreneurs starting point is believing in themselves. Not knowing how to do something is not a cause for concern

So the question is, what are the unique qualities that entrepreneurs bring to the land business that help them achieve 6, 7 and 8 figure incomes?

Risk tolerance: Entrepreneurs are often willing to take risks and make investments that others may consider too risky. They are comfortable with uncertainty and have a high tolerance for risk. Many people spend a lot of time evaluating the land business but don't get started because they require 100% confidence before starting.

Vision: Entrepreneurs have a clear vision for their business and are able to articulate it to others. They have a strong sense of purpose and a passion for what they're trying to achieve.

Entrepreneurial land investors know their why and have specific targeted goals in both the short-run and long-run.

Creativity: Entrepreneurs are often creative individuals who think outside the box and come up with unique solutions to problems. They are not afraid to try new things and are always looking for ways to innovate.

Resilience: Entrepreneurs are often highly resilient, and are able to bounce back from setbacks and failures. They have a strong work ethic and are determined to succeed, no matter what obstacles they may face.

Adaptability: Entrepreneurs are able to adapt to changing circumstances and pivot their business strategy as needed. They are agile and able to make quick decisions in response to new information or market conditions.

Networking skills: Entrepreneurs often have strong networking skills and are able to build relationships with potential customers, partners, and investors. They understand the importance of building a network and are proactive about making connections.

Focus: Entrepreneurs are highly focused and able to maintain their attention on their business goals, even in the face of distractions or challenges. They are able to prioritize their time and resources effectively in order to achieve their goals.============================================Let’s Connect

For coaching and courses go here - https://www.land.mba

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Don't miss out on this opportunity to learn how to turn your financial dreams into a reality.

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

Let’s Connect

For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

It's always important to set aside some time for yourself. Just like rest days when working out, your brain needs a break every now and then to stay active and healthy.

Let’s Connect

For coaching and courses go here - https://www.land.mba

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

You can buy just about anything, but turning around and selling it to someone else is a whole other ballgame. Obviously, avoiding "The bigger fool" traps like beanie babies and over priced used cars (No lowballs, I know what I have!) is the first step, but what about when you find out something about a property after you buy it? On this episode of the land.MBA podcast, we discuss 5 ways to make land more attractive to buyers so you can move almost any property.

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For coaching and courses go here - https://www.land.mba

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landinvesting #houseflippingtips

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

There are plenty of attachments you can build on a property to increase it's value, but what if you don't want to build? There are so many ways you can increase the value of the land without building, or breaking the bank. In this video, Howard and David talk about the top 5 ways to increase your land's value without having to build.

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For coaching and courses go here - https://www.land.mba

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

It's the holiday season, and that means it's time to reflect on the year that past, and think about how we improved, and how we plan on growing in the coming year. Join us for festive fun and land investing tips and tricks.

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For coaching and courses go here - https://www.land.mba

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

Worried about the economy? Wondering what effect the housing market will have on your business? Investors and newbies have been coming to us with questions about what the future of the land flipping business look like, and what they can do to better their chances in an ever changing market. On this episode of the Land.MBA podcast, Howard and David talk about their undated strategy for 2023 to grow your land flipping business.

Let’s Connect

For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

You always want to learn from the pros, well this time the pros learn from each other. In this interview, you'll meet Reid and his Wife Haley, and how they grew their land funding business as an investing power couple.

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For coaching and courses go here - https://www.land.mba

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landinvesting

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

If you are looking to find the best realtor to achieve your land investing goals, it can be tough. Many realtors don't understand the land market, or don't have the interest in putting the effort into a property without attachments. When getting referrals from family and friends, it can be daunting deciding if that realtor would be the right fit for your business, or that specific deal. And in the end you also are faced with the fact that you can do a lot of the work a realtor can do for you already! But sometimes you need that extra foot in the door, and a fresh set of eyes can bring new perspectives to big deals. If you want to make more money from home, think about bringing a realtor on to your land investing business, but don't do it before David and Howard tell you what to look for and what to avoid!

Let’s Connect

For coaching and courses go here - https://www.land.mba

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To book a free phone consultation with Howard and David to learn about your fiture in land investing, schedule here: https://bit.ly/3qElQf8

Could we be messing ourselves up by giving the wrong attention to ourselves and our goals? Have you achieved your goals? Ignoring last year's New Years Resolution? Sometimes it can feel like you have all the potential in the world but something is holding you back. What if that something was your mindset? On this episode of the land.MBA podcast, Howard and David explore ways that we as investors self-sabotage, and how to avoid your biggest roadblock: Yourself.

Let’s Connect

For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

Show me the money! Regardless of economic downturn, recession, or any other scary thing the news is telling you about, if you target a customers with money they will reward you. On this episode of the land.MBA podcast, Howard and David discuss the best ways to find where the money is, how to make more of it, and how to grow your business when the economy is shrinking.

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For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

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To book a free phone consultation with Howard and David to learn about your fiture in land investing, schedule here: https://bit.ly/3qElQf8

Some deals just seem too big to jump at. You might think that you don't have enough capital for larger deals, or maybe you don't think you could make money on a large expensive property. In this episode of the land.mba podcast, Howard and David reveal a shocking secret of the land industry, and you don't want to miss a second of how they use this to secure massive 6 figure deals without 6 figures invested.

Let’s Connect

For coaching and courses go here - https://www.land.mba

Instagram - https://www.instagram.com/land.mba/

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To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

If you've looked into house flipping 2022, you know that the upfront costs and labor involved are enormous. What if there was an easier way where you could make bigger returns without all the headache? In this episode, Howard and David cover the 7 reasons why investing in land is the best investment strategy if you want to work from home.

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For coaching and courses go here - https://www.land.mba

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Jim Edenfield, of realtyinvestorsgroup.org/ and Invest Success Denver (https://invest-success.com/), joins David on the chair lift to discuss how he found success in starting his own business from home. Formerly a member of the coast guard, Jim used this experience as well as his background in IT to start his own businesses, and now helps those in the industry achieve their goals of investing.

Jim is also getting into single family homes and apartment units, a popular additional income source for investors working from home.

To book a free phone consultation with Howard and David to learn about your future in land investing, schedule here: https://bit.ly/3qElQf8

Let’s Connect

For coaching and courses go here - https://www.land.mba

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Is this the best side hustle for you to start at home? The best side hustle in 2021 is also the best side hustle in 2022, so you don't want to miss a minute of this tell all interview with investing genius Eddie Speed, who has completed tens of thousands of deals involving land!

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For coaching and courses go here - https://www.land.mba

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Let’s Connect

For coaching and courses go here - https://www.land.mba

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We all make mistakes, and some mistakes cost us more than others. Would you put in the work to grow your company today? On this episode of the Land.MBA podcast, Howard and David discuss the biggest mistakes they made, and how they could have saved thousands if they only knew what they know today.

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For coaching and courses go here - https://www.land.mba

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There are many ways to generate cashflow from your investments. In this episode, Howard and David go into detail about how they have found success using their properties in their portfolios to generate cashflow before the land is sold. If you're looking for a way to find cheap land in the USA and flip it for profit, you may want to use some of these tricks to keep money flowing into the company.

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For coaching and courses go here - https://www.land.mba

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There's a reason corporations pay big for data, it helps them make a lot money. As land investors making money from home, using the data at our disposal is critical when looking for the best deals and getting eyes on your properties. If you want to have the best direct mail strategy, you need to understand your data so you stop wasting money and target high quality leads you have gained.

In this episode, David and Howard go over some details about how they are maximizing their data for the clearest understanding of their market for the best results.

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For coaching and courses go here - https://www.land.mba

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If you've ever looked into running a direct mail campaign, or run one yourself, you know that direct mail can be incredible, but it can also be a big waste of time and money. In our search to save ourselves, and our viewers money on direct mail advertising for their small business, David stumbled upon an incredible opportunity after doing, or rather, failing to do, one simple thing with his direct mail recipients. Listen to this episode of the land.MBA podcast to learn how he purchased 16 properties from one mailer!

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For coaching and courses go here - https://www.land.mba

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Bill Gates has been making a lot of big moves lately, and it's safe to assume these are tactical decisions. The once richest man in the world doesn't do something for no reason.

In this episode, we cover what Bill Gates as been up to, and how his actions could dictate our investments in land.

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For coaching and courses go here - https://www.land.mba

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Is this the greatest land opportunity in our lifetimes? Some see the market movement as a bad omen, but some of the biggest and best investors make the most money in recessions. Understanding the market and buying when there are good deals is how you can grow wealth and make money from home when others are struggling to scrape by.

Learn about investing in the recession on this episode of the land.MBA podcast.

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For coaching and courses go here - https://www.land.mba

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You've heard it on the news, you've seen it at the stores, the country's economy is doing doing as well as it once was. Are you ready to invest? Or are you too chicken?

In this episode of the Land.MBA podcast, we discuss options investors have when the belts get tight and the wallets get light. There are very powerful strategies that can make investors a lot of money, but you have to know how to overcome fear and understand the market.

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https://www.subscribepage.com/landmbafreepass

Have you ever wondered what dedicated land investors are afraid of? Have you ever been paralyzed by fear? What about when you're dealing with other people's money? On this special episode of the land.mba podcast, we pull back the curtain on our Smartbar discussions and give you a taste for what you're missing when you aren't a member.

You will hear from a lot of very talented and successful investors, and get a real unfiltered look at the realities of the land investing business. If you are serious about make money from home, you do not want to miss this episode.

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For coaching and courses go here - https://www.land.mba

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Seth Williams understands what it's like to struggle and be stuck. After working hard in College and in the banking industry, Seth knew that he wasn't achieving his goals of financial freedom and independence that he knew he desired. But it was never going to be easy!

In this episode, learn about Seth's journey in real estate, house flipping, and land investing. Find out what worked for him, what flopped, and how he plans to move his company into the future.

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For coaching and courses go here - https://www.land.mba

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Meet Kurt Chronister, a former pharmacist who wanted more time with his family. House Flipping is a popular side gig for people making money at home, but it can take up a lot of your time and tie up a lot of your money.

That's when Kurt started expanding his revenue sources. By using the skills he developed as a house flipper, Kurt got coaching and started flipping LAND as well. What effect did this have? It increased his ROI per deal, so he can work less, make more, and spend quality time with his family.

Find out how he did it on the Land.MBA podcast.

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Sometimes, it's not how hard you work, it's HOW you work. If you're trying to grow your business to make more money from home, understanding the roll of a CEO, and the mindset that the CEO must be in to successfully steer their company toward success is critical to keeping your business going and growing.

In this episode, Howard and David discuss the challenges and tricks at framing your mind to better run your business, even if that means hiring someone else to do it.

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Fear. Fear is the biggest killer of momentum when investing. If you can defeat fear, you will be presented with opportunities you could have never dreamed of. In this episode of the land.mba podcast, David and Howard talk about the next steps when starting investing in land, so you can feel confidant when investing more money and time in selling bigger and better properties.

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If you're a serious investor, or looking to make money from home, the most enticing aspect of running your own business is the prospect of making money while you're asleep. But getting to that point where you can earn money while you sleep is a long and focused process.

In this episode, David and Howard discuss the most important skill you need when making money from home, Delegation! If you can delegate your tasks to your team and employ the correct people, you will be able to grow your business whether you're on the road, out fishing, or asleep at home.

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For coaching and courses go here - https://www.land.mba

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If you want to make money from home fast, join our Accelerator program: https://land.mba/products/accelerator/

Are you courageous? What about with your money? Are you brave when it comes to digging deep and spending money on an aspect of your business that you know might fail? Courage is what separates the successful land investor from everyone else, and knowing how to address that fear is the best way to grow your business and make more money from home.

Today, Howard and David discuss some scary moments in their journey growing their land businesses, and you'll also hear anecdotes about students wrestling with fear and courage on their own deals. You don't want to miss this episode of the land.MBA Podcast.

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For coaching and courses go here - https://www.land.mba

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If you want to make money from home fast, join our Accelerator program: https://land.mba/products/accelerator/

All the professional investors read our Newsletter, and you should too: https://land.mba/newsletter/

N.B. While I always try to be factually correct, I made an error in this podcast. Saddam Hussein did not attempt to sell oil in Euros leading to the first Gulf War. He did so leading to the second Gulf War in 2003.

Are you ready? The tsunami is coming, and you need to be prepared. In this episode of the Land.MBA podcast, David and Howard discuss how they are preparing for global economic change, the great reset, and how they will maintain their financial security through investing in hard assets such as land. They are able to do this, in some cases, invest with no money down, and are able to generate wealth through investing. If you want to make money from home fast, and maintain wealth for you and your family, there are fewer options better than land investing.

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Juggling real life and business can be hard, and no one knows this more than Jesse Marchand, a talented and creative land investor who's dedicated his life to family and building his businesses. In this interview, we pick Jesse's brain on how he got started investing, his journey that brought him to the success that he has now, and how to avoid being burnt out.

If you want to learn how he turns big losses into bigger deals, tune in to find out!

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The level of success that is achievable when investing in land is sometimes hard to understand, but not for Jamon Yerger. After already finding success in other industries, Jamon discovered the land business and knew this was a great opportunity, but he needed to know more!

He found us at Land.MBA. Coaching and the knowledge base that Jamon found allowed him to grow his business and close tons of deals. Come along and learn about his journey in the land business on this episode of the land.MBA podcast.

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Most people don't measure this, but if you start, you will increase the number of deals you can do in a year. Yes really. By leveraging your time properly, you can capitalize on timesaving strategies that will help you sell more land.

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The secret is out, investing in raw land in 2022 is one of the BEST investment strategies for your portfolio, but what does that mean for how we go about securing deals? With so many people getting into this business, it can be difficult to cut through the noise and get your offer accepted over everyone else's.

In this episode of the Land.MBA Podcast, David and Howard discuss the most important things that you can do RIGHT NOW in 2022 to make more deals, better deals, and faster deals.

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houseflipping #realestate #realestateinvesting #flippinghouses #realestateinvestor #houseflipper #fixandflip #realtor #renovation #fixerupper #houseflip #realestateinvestors #investmentproperty #realestateagent #realestateinvestment #investing #flippinghomes #entrepreneur #webuyhouses #wholesalinghouses #property #houseflippers #homerenovation #realestategoals #construction #junkremoval #investor #landmba #wholesalingrealestate

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Plenty of podcasts talk about how to succeed, but today, Land.MBA is going to talk about why land investors fail. With so many challenges and obstacles to overcome, it's easy for new investors to fall into common traps that will doom them if they let it happen.

In this episode, Howard and David go over the common ways land investors fail, and how you can avoid the same mistakes so many have made in the past.

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2021 saw the rise of inflation and the fall of employment. Understanding the market, the economy, and inflation are integral parts of surviving in a post-covid world. In this episode, David and Howard discuss how the rampant inflation has affected the country, their business, and how they plan on surviving the inflation apocalypse in 2022.

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realestate #landflipping #landmba #howardzonder #MakeMoneyfromHome #BuyingLandinTexas #RealEstateMarketCrash #IsLandaGoodInvestment #DirectMailAdvertising #WorkfromHomeJobs #RealEstatePhotographer #houseflipping #landdeals #buyahouse #buyland

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It's a new year, and in 2021, land investors grew their businesses like wildfire. Now with even more people moving away from the cities and into the country, land sales are set to be higher than ever. Capitalize on this incredible market by making sure you are pricing properly! The right pricing will mean effective direct mail campaigns, which turns into great deals.

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Master your Pricing with Price Master: https://pricemaster.land.mba/

Are you wasting money on mailouts? Are your direct mail campaigns converting the way you expected? There are so many variables that affect how effective your direct mail is at generating more leads and closing more deals. What we've found is the leading cause of failed mailers is Pricing. Maybe your prices are too low, and you're insulting everyone you're mailing to. Maybe your prices are too high, and the phone is ringing off the hook for deals that will never make money.

One person who knows all too well how direct mail can go good and bad is our guest today, Mitch Milam, who has seen his share of success in the land business. In this episode, he reveals shocking details of some of his most lucrative and disasters mailouts that you don't want to miss.

Let’s Connect For coaching and courses go here - https://www.land.mba Instagram - https://www.instagram.com/land.mba/ Facebook - https://www.facebook.com/mylandmba #Workfromhome #marketing #realestate

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Go to pricemaster.land.mba and get 50% off the course until the end of 2021 when you use code "LANDBOSS"!

Direct Mail is a powerful tool that investors can use to make money from home selling land, but are you wasting your money on poor quality mailers? In this podcast we tell you to stop what you're doing, and refocus your mailing strategy to increase conversion rate. You could save money, but you WILL save TIME!

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Workfromhome #marketing #realestate

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Understanding how to set the right goals and stick to your path is imperative in growing your business. If you want to maximize your profit with side hustles from home, such as investing in land, setting the right goals will help you achieve your goals.

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Understanding the market, and understanding YOUR market, are key strategies to help grow your investing portfolio. Unfortunately, uncertain times has caused the markets to do crazy things! Not only are land prices fluctuating, but we're also seeing shifts in markets with growing competition from other investors.

Don't be left out in the cold, learn about what's going on, how to find out for yourself, and what we're doing in response to that.

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Veterans represent freedom, duty, and love for one's country. Today, Howard and David honor our veterans and discuss why vets make such damn good land investors; as well as why the land investing business is a great fit for veterans and their spouses.

Managing a business can be difficult, and many people don't have the time or energy to manage the laborious job of flipping houses, but want to get into the strong market that is real estate. Through investing in land, veterans are able to run their business from anywhere in the world with an internet connection.

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Like Mike? His Site: https://www.tolosapropertygroup.com/contact-us.html

Do you know about Real Estate Entitlements? Did you know that sellers sometimes don't realize what they're selling, to the point of investors being able to turn big profits in a relatively short period of time? Understanding Entitlements can be the difference between a deal that loses money, and one of the most lucrative deals you'll make.

Today, our guest Mike Marshall goes into detail about how he uses simple paperwork and research to sometimes double the value of an investment through Entitlements.

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So you have tons of leads on a property you're trying to sell, but are you wasting your time not being able to close that deal with the right sales call? Do you know how to conduct yourself on the phone? How effective are your sales funnels? All of these questions and more lead to successful sales and that means more money.

In this episode, David and Howard reveal the secrets that pro land investors use to close more deals, get better deals when they buy and sell, and how the whole process works so you understand the best strategy for every call, regardless if it's for a quarter acre corner lot, or a 50 acre ranch.

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Understanding your process is one of the most powerful tools you can use to automate and grow your land investing business. By learning what you are doing, and creating standard practices around that, you can streamline your business in countless ways.

How many times has there been a useless step in the process at work, which only eats away time and doesn't benefit the project? In this episode, David and Howard discuss when to add steps to your process, when to take useless steps out of your process, and how to determine if you can delegate a process to someone else.

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Do you think you're getting the best deal when you purchase a property? Are you getting your asking price when you sell? You may be leaving a lot of money on the table, and knowing when to hold 'em and when to fold 'em can make thousands of dollars of difference.

In this episode, David and Howard go into detail on negotiation strategies, and how a few small changes in perspective can mean big profit.

The book we discuss in this episode is Never Split the Difference by Chris Voss : https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805

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Never Split the Difference: Negotiating As If Your Life Depended On It

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Hi, my name is Howard. Will you marry me? What you mean you'd like to get to know me first? Well, if you think that's really important. Hey, guys, today on the Land of NBA podcast, David and I are going to go delve into the third of five critical skills that all land investors must master relationship building. You can't ask people to marry you on the first date, and land business relationships are built on the phone. Those who master building, trust and rapport over the phone will be able to go from a ho hum land investor to land closing machines.

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Excellent. Excellent. Dude, I got to tell you the other day I sold a property, but this guy, this customer was so combative when I got him on the phone, I didn't even know why he called me. He was really kind of irritating guy. But you know what? By the end of the call, bada boom, bada bing made the sale and awesome. Just just a matter of doing what God use and what God gave me two years in one mouth and just listened. Asked a few open-ended probing questions here and there and let him talk. And then, you know, after we built some rapport, he trusted me and it was like, Yeah, let's do the deal.

So sweet money in the bank.

Exactly. And that aligns with our topic today.

And what is that relationship building?

So we're talking about this is the second.

Wait a minute. Is this a dating podcast?

What do you have in mind, sweetheart?

Ain't going to happen, buddy. Let's set expectations early.

You broke my heart, Howie.

I'm sorry. We all have our likes and dislikes. I just don't do bald guys.

All right, well, there's there's plenty of women out there who do so, you know. All right. I digress. So we're building on the five bullet points of the the five skills that you need to pay the bills in this business. And the second one in our order is relationship or rapport building. And that is essentially the art of persuasion, its sales, whether you're talking to a seller or a buyer.

Absolutely. It's a really important topic and it's make or break in this business because someone's business is done on the phone with people that you never actually meet. So being able to build a strong rapport with people that you don't even meet face to face is a great great is a great, great skill set to have you got to have it, actually. But before we get too deep into it, I just want to say if you love the land business as much as we do and you want to continue to hear more of the deeper, unadulterated insights we strive to provide on this podcast, please subscribe rate and review on YouTube. Your favorite podcast app or wherever you're hearing is from. It really helps us to provide great content for free. And even if you don't love it, if you're just coming back every week, every week because you just got nothing better to do. My God rate review and subscribe. Leave a comment. Do something I can't tell you how much it means to us, and we are very committed to continue continuing this and providing not just surface level stuff, not just we don't want it. This is not about sales. This is about sharing knowledge. So please help us out. And we certainly are going to do our very best to help you out as well.

It's not about sales ploy. Oversold that one, I'm telling you.

Well, you know, if we provide something you want and you know you, you know, there's a good exchange of value. I'm not above that. But you know, first and foremost, we want to share a great valuable content.

Excellent. All right, Matt. So why is rapport or relationship building important?

Yeah, it's absolutely essential because there's two things that I think are absolutely critical before a sale is even possible. And that is one until somebody knows you and you're still you until you establish a little bit of rapport. There is a lack of trust, and no one is going to do a deal worth hundreds, thousands or tens of thousands of dollars with somebody where they have not established some level of trust. Now, with bigger businesses, it may it may take less because trust is built through the branding process. You know, they know the company, they know the brand, the brand is credible and that their people are going to do what they say they're going to do and that there are ways to deal with it if they don't. But when you're dealing with situations like this, people often worried about being scammed, that's always the big word that they're worried about. So you've got to build trust between yourself and them so that they will feel confident to do the deal with you. But trust isn't always enough. They also need to like you because there's this great saying that says all things being equal, people would rather do business with people they like and all things not being equal. People would rather do business with people they like like. So it's really important that they like you and trust you because now and all that's doing is creating an environment where a sale can happen. I mean, obviously, you still have to provide something they want at a price that they're willing to pay for it. But now you've at least set the stage where a sale can exist without relationship building. The stage is not set.

Yeah, exactly, I mean. And but just a side note, folks, we are intermixing the sales side and the buy side because it's the same thing you're you're persuading someone to sell to you and you have to so and your and your persuading somebody to buy from you. So it's the questions might be a little bit different, but it's the exact same process. So which we're going to get into a little more details. It's essentially a sales process. And so the key to these conversations is, you know, open asking open ended questions. So, Howard, good explanation of why it's important. I totally agree.

When is it important? I guess there's I never really like using superlatives in any conversation like never, always would ever. But this is a case where it actually makes sense. The answer is always. And it doesn't matter who you're working with. I mean, whether you're dealing with sellers, buyers, title companies, county people. At the end of the day, we're always having an engagement with somebody where, you know, we there's an exchange of value or we need something and it's their job to give it to us. But still, the the pace, the quality of of of those conversations is all based upon relationship. You know, they always say you can catch more bees with or more flies with honey bees with honey. I don't know. It's something like that. I feel like George W. Bush right now. It's like I'm screwing up my my clichés. But at any rate, it's true.

At least you don't say nuclear.

So at any rate? No, no. What did he say? He goes, You know, fool me once. Shame on me. Fool me twice. Shame on. Will you get the idea? It's almost actually. That was almost a Biden ism, the way he said.

Yeah. The thing, the thing. The thing. Let's not digress.

So, yes, the answer is always sellers.

Excuse me. All right. Yeah, exactly. So I think now. All right. So let's get into some of the, you know, the questions that we're going to ask. Let's let's let's talk about sellers first and then buyers. But what are some of the questions you might start with to build trust with a seller?

So I think the first thing is sometimes we just answer the phone, sometimes we let everything maybe go to voicemail or to an answering service, so by the time we call them, we're actually calling them, they're not calling us. So the first thing we have to do is we have to introduce ourselves. This is who I am. This is why I'm calling. Well, sometimes they're happy to hear from us, and sometimes they're not, but how we start the conversation kind of sets the tone for everything. So, you know, obviously we want to be positive. We want to be upbeat, but not over the top, because that may not sound sincere. And so I think a clear statement of who you are, why you're calling. But then what I think happens very quickly in these conversations, whether it's on the buy or sell side, is if the other side because you haven't built rapport yet, you haven't built trust yet. They jump right into the facts, you know? Tell me about the property. Tell me the speeds and the feeds in the acreage and you know, the zoning or the price.

We're focusing on sellers right now.

Yeah, yeah. So they're going to they're going to focus on the price that's usually going to be the big thing for them. Now the trick, I think for the way I try to do it is I don't let them control the conversation. I control the conversation, but not in a controlling way. I don't want them to feel like I'm controlling the conversation.

So let me just interject. That would be called leading. You're leading.

Leading. Exactly, yeah, leading leadership is a good thing. So, yeah, so I mean, I get in and I'm like, you know, hey, I definitely understand that price is going to be the big issue here and and we're absolutely going to get to that. But before we do, I just can I ask you a couple of questions and I say, can I ask a couple of questions? Because that gives them the feeling of control, even though I've taken them off their their game and switch the conversation in the direction I wanted it to go. Yeah. And and then and then I'm going to start asking questions what what we really need to do at this stage of the conversation. What we really need to accomplish is we need to not present ourselves as a business, but as a person. I mean, even in large corporations, people don't do business with corporations. They do business with people, right? You know, I bought it because my sales guy was fantastic and I trusted him and I know he was going to make happen on the other side, whatever I needed to do. People want to do business. People do business with people. And so how do we make ourselves more human? I mean, there's so many ways. One is we just ask some questions that really have nothing to do with the property and really just to do with getting to understand each other a little bit. And for me, what I'm really trying to do is as quickly as possible is I'm trying to find something that I can have in common with this person.

These are some crazy times in the real estate field. Demand is high. Inventory is low. If you're a realtor, a wholesaler or house flipper, you've probably noticed how hard it's become to find quality deals. This is why so many in our industry are looking at land as an outstanding way to add new revenue streams to their portfolio.

If you're listening to this podcast, you already know that land is a relatively unknown niche of the multibillion dollar real estate market with huge profit potential. Seriously, what other business delivers 200 300 a thousand percent return on investment deal after deal?

It seems hard to believe, but land really returns 100 to 300 percent commonly and sometimes over a thousand percent deal after deal and in the age of COVID. Demand for land has never been higher.

Many of our students have already created new revenue streams with land and added six figures to their incomes.

We've had clients who have achieved multiple six figures in their first year of business. Another pay for all his coaching and pocketed 15 grand on his first deal. Now, not everybody has these kinds of results, but they're certainly possible if you have the right instruction, the right support and highly experienced mentors.

You don't need another course that promises the moon and then delivers an elementary school education. You need a proven program suitable to your experience and ambition. You need a land MBA. The Land MBA is everything you need to blow it out in the land, business, courseware, mentorship, tools, community and even deal funding. Look, because you're here listening to me, you know that Dave and I don't hold anything back. That's a founding principle we've had from the beginning with the land MBA. You get everything we have to offer. There are no upsells, and now through popular demand, we have transformed our highly regarded one to one coaching program into a small group format at a fraction of the price. If you're ready to build a six figure income with the freedom of being your own boss, go right now to W W W Land MBA Fortune. That's W W W Land MBA Fortune. Let us help you create your next path to wealth. So I might just say, where are you calling from? Maybe it's a location based question or, you know, how's the weather out there? Or, Hey, you know, are you know, oh, you're from New York Giants fan or a Jets fan? Oh, you're you know, I'm just using some places near me. Oh, you're from New Haven Haven. Everything's about pizza. Are you a Pepys fan or a Sallies fan? You know, this is the big two big piece of places, but whatever it is, it doesn't matter. It's about saying something and getting them talking about us to kind of talk about something that they relate to or care about or have an interest in. It's got nothing to do with the land so that we can develop that personal relationship.

Absolutely. It's and and that conversation may lead down another road. It may be may lead to other talking about your family or your kids or your pet. Yeah, you're a dog, guy. I'm a cat guy, but I, you know, whatever. Stuff like that, and you start to build that report. And so it's very important, even though you know you should have a. If you're out and about and you're taking calls or returning calls, you should have your primary script available, you know, print it out if you're in the car. A lot I used to when I was doing this business part time and I was in sales. I would. I was in a car all the time, so I would, you know, I'd have it on my phone, but I always I'd always have printed sheets of my script, so it was ready. But you have to practice so that it becomes conversational. You don't want to sound scripted because then if the conversation goes off your script, you're screwed. It's like, you know, a president. We know when he goes off teleprompter and it can go really bad. But you know you want to you want to practice this, this art, this skill. But yeah, exactly right. Like, you know, where are you calling from a little bit about the weather and things like that start to build, build that trust? And then you can start to bring it into the the facts and the figures. When you're you get to the right part and you feel and it's very much a judgment call on, you know, on how deep you go with questions. But then you might ask them, you know, you might come in and ask them about, you know, what are your goals? What did you what what was the reason that I'm sure you've gotten, you know, have you gotten letters from other people? Why? Why did you call us

Before before we get quite into that part? Can we just explore this front end just a little bit more?

Ok?

There's a quote, and I think the quote belongs to Maya Angelou, the poet. And I'm just going to say it was her because that's how I remember it. And it was. It's something that I've always I heard it once and I've never forgotten it, and it's so important. It said in the end, nobody is going to remember what you said. And very few people will remember what you did, but everyone will remember how you made them feel. And that's really what we're trying to accomplish. So think in your in your own life where you've been in a situation where it's you, maybe you you were in the presence of somebody with a big title or the CEO of your company or whatever it was, and it felt a little bit intimidating. Maybe you felt a little bit nervous. You found just when you spoke that your voice ended up being a little bit higher, your heart was beating a little bit and then other people who just completely put you at ease and you're like, Gosh, I don't know what it is about this person, but I just like being with them, and I just feel like I can be myself. And when people are themselves, they let loose and they talk and they just relax and they say, what's really on their mind? They don't hold back, and that's really where we want to get them. We're trying to get people to relax and feel comfortable. And so the word I would use here is, you want to be accessible, you want to be a person that they can say, I like and trust you and I feel I feel like I can just be myself with you.

I've done this sometimes where like, I'll take a call, I'll be out in my yard and they'll start talking. I'm like, Can you? Can you hold on a second? Oh my God. A squirrel was just going across and my dog just went absolutely nuts like a bad Holly. And he just almost got it. I'll just say something stupid like that. But it it basically humanizes me and my experience into something that they can say, Oh, I can relate to that, you know, I got a dog or I've got squirrels or whatever it is. And all of a sudden now there's an accessibility, and you might ask how much is enough? How much of this little front end banter do you need to do? And I guess the answer is you'll know you'll just you'll just feel it. And then at some point, you know what your what would be really great to hear. On the other end of the phone is a chuckle or a laugh or something like that. And one of the ways that I. Think we can do this week in order to make them feel relaxed and and be willing to share when we get on the phone, we have to be relaxed and we've got to be willing to share. And at least at the beginning, a lot of times when, you know, for people who don't have the, you know, the great experience and just cold calling people, it can be a little bit intimidating.

And so one of the things that I know Dave and I have been really, really I think we've always done it, but we've been really, really trying to improve in this area is before we get on the phone, we just take a moment or two to just think about what our goal is on that phone and especially whether whether it's buying a property. You know, you might say, Gosh, I really want to buy that property or whether it's selling a property is like, Whoa, how much money am I going to make you? You're counting the dollar bills. Both of those are really bad ways, things to have in your mind when you get on a phone call. What what really works? I think for us and what what I think works for most people is to say, You know what, I really think I have something that can help this person, and I want to better understand where they are and what they're trying to accomplish. And I would really love to be able to walk out of this conversation and be able to offer them something of value. And if you put it all on the other person it takes and you really feel that in your heart, then they won't get this nonverbal. Cue that I think you have an ulterior motive. I think you're just trying to get something from me because you don't. You're really trying to help them in a way that's going to make sense for your business. So, yeah, start with that human touch.

Yeah. Sorry, I interrupted you. No, no, no. Yeah, human. I mean, it's such an important principle to think about, right? What's the outcome that I want to create? It's not making money. The goal is to provide, you know, how much value can I provide? And the more value that we can provide in life to the more people, the more money is going to be a byproduct. We're going to make money, the more value we can provide to the more people. So absolutely being human as is a really good way to put that. Talk about some more on that. Like. I mean, there's finding things in common, there's there's you mentioned something earlier about making a mistake. Can you elaborate on that?

Yeah, I funny this. This came up last night on the land speed smart bars. Somebody sent all their offers out and they they sent out arranged offer. So, you know, we typically pay between this price and this price for the property. But they didn't. They made a mistake in their letter. And so what it ended up saying is we typically send out this price per acre and this price per acre for your property. But the numbers reflected the full value not just on a per acre basis. So they were like astronomical offer prices in the phone's ringing off the hook.

And you know, that happened before. I've seen that mistake made

And I've made that mistake. You know, I think at some point, if you send out enough mail, everybody makes that mistake once in a while where their mailers, their pricing is just way too high. And it's a phenomenal opportunity because then you kind of come in and you say, you know, I appreciate the callback and I just want to be really transparent with you right from the beginning because, you know, we price a lot of of a lot of land and send out a lot of mail. You can imagine in order just to be able to buy a few. That makes sense. And well, gosh, sometimes we make a mistake. And unfortunately, on this mailer, we made a mistake and and those prices don't actually reflect the true value. And, you know, if. And I want to first off, just apologize to you for that. That was that's on me. But so the first thing I can say is I'm not going to be able to pay that price. But before we go any further, I guess the question I really want to ask you is, are you really interested in selling your property? Because if you are, I would love to continue to talk and see if we can't find a price that would make sense for both of us and. Yeah, go ahead, go ahead. No, no, no, go ahead. So not only does that set up, hopefully at this point, a quick negotiation because you haven't done the due diligence yet, you don't want to do a final negotiation. You just want to establish the expectation that that price ain't going to be it. But what it also does is say, look at I made a mistake. I own my mistake. I'm human because humans make mistakes. And now I'm not this big, scary company on the other side of the phone with a brand that they don't really know just doesn't know. It doesn't mean we're not a big, an established company. They don't know. So now I'm just a human being like them, and I'm fallible, and that makes me accessible.

Yes, exactly. I've had that same situation happen a couple of times where I was able to reel them in and get the deal. Yeah, that's a great point. It really shows your your human side and breaks down some barriers. And then we get into some open ended questions, you know, in addition, if you need them, I mean, we've already covered several, Oh, you know what? I just want to go back, though. You know, you talked about this is just a when you make that mistake and it's just a point you're building rapport, but you haven't been able to, you know, necessarily look at the property yet. But hopefully if it if it came in, this is slightly off subject. But I just want to drive this point home. Hopefully, it came in through your if it came in through your phone service or or email or whatnot. I mean, if you pick the phone up live, then you're you're just reacting life. But as I always try to say, never let the people off the phone without trying to get a deal, if you can, because people call its people are so busy today and they're getting hammered from so many different pieces of media to get their attention, you know, text messages, email everything.

So sometimes, even if they're really interested, it can take you a couple of weeks to get them back up back on the phone. So I implore anybody if you if, if, unless you're in the car or whatnot. But if you're in front of your computer and you've got them on the phone, maybe you picked up the phone. You'd be like, Hey, look, let me do you have five minutes left and I'll go on and look at some numbers and be able to make you an offer here and there that we can discuss because I always, you know, I don't like the thing. Well, well, send me another offer I I would prefer. I'm happy to send them an official, offer a new letter, but I want to get an agreement first before I waste my time or my staff's time, and even a lot of times what I will. And so, you know, if it's a life phone call, I try to keep them on the phone. You got a few more minutes if you know it came in through the other channels that I should have had an opportunity to look at it and say, Oh holy cow, and then be able to have a number in my mind when I call them up so we can negotiate that and then take it to another level, I'll say, you know, I'm happy to send you an official new fresh, clean offer if that makes you comfortable.

However, if you scratch out the offer in there and write it in and initiate and then sign the document, just take a picture of it. Text it to me. That's all I need to open up escrow and my the title company will clean up the the final contract. I like to have that, you know, that saves time. So if you would just send that to me and then if you want me to, I'll send you another contract. But I can use that that scribbled on piece to open escrow anyway. It's a sidetrack, but I think it's really important because this has happened in my business a lot and and I'm really trying to drive home with my acquisition person nowadays that, hey, you got them on the phone. Let's let's try to get something signed, even if you go into due diligence and realize, Ooh, we still need to offer less because you discovered something well, that would have happened anyway. Get it under contract. Yeah.

Good. Good. Good point. You talked earlier about open ended questions, and I think part of this is, you know, that we really want to get into in this podcast. It's not just the what and the why, but also the how. How do you actually do it? And you know, we've we've talked a little bit about it, but I think there's a little bit of a simple flow, a five step flow. And I would say, you know, don't be don't feel like you've got to go exactly like this in this order all the time, you know, very rigid. I mean, you've got to let conversations flow the way they're going to flow. But I think if you follow these five steps, you really will do a great job and building that rapport. And it's funny because whether it's sales or marketing or team building or, you know, I can think of all of the corporate off sites I've been to in my career. It always feels like group therapy, and I always kind of walk away from those things and I'm saying, Gosh, I could really apply this in my personal relationships to maybe improve my marriage or whatever, whatever it is.

And it's and it's true. I mean, I I think becoming a better communicator, having higher emotional IQ is some of the most valuable lessons we can learn, both in business and personally as well. And one of the things that I've learned, and it took me a long time to learn it. It's that it's really important to validate other people. You know, at the end of the day, what we all want is we all want to feel heard. We all want to feel that you hear me. You understand me. You know where I'm coming from. And at least if we have that, you know, then we can have the basis of a conversation. But if somebody says something and then you counter with what you want to say, but you haven't taken the time to validate them, then they don't feel like you've really heard them. And they're going to dig in their their heels and they're saying, I'm not going to stop until you understand where I'm coming from.

So that's just a really important point on that. Validate does not mean agree, right? You can strongly disagree with them and still validate their position, so they feel heard. And that's all most people want. They don't necessarily want to be agreed with, but yeah, they want to be validated. And I. It's something that as a as a husband and a parent ex-husband now. But you know, you learn, you learn about that stuff. So maybe I wouldn't be divorced if I learned about validation earlier in my relationships. Hey, folks, people often talk about automating and outsourcing your land flipping business. But what does that really mean? Generic solutions leave it to you to figure out how to set up and maintain the automations. I've been running my land business on land speed for over three years because it's a total solution and allows me to focus on being a great land investor. Land speed was built specifically for land investing by land investor and with many of the most successful people in the business using it for years. It's evolved into one of the most feature rich solutions on the market. Some of the key benefits I get are being able to create and manage mail campaigns and neighbor letters. I'm able to automate tasks amongst my team, create contracts and deeds and email text or mail them within a few clicks. I can automatically capture sales leads from any lead source, including Facebook Messenger. Then it automatically pushes those leads into my sales funnel so that I can manually follow up, but they also go into my automated drip campaign. And since Lance Speed's a total cloud based solution, I can run my business from anywhere in the world with a phone, laptop or tablet. So if you want to. Turn your hobby into a professional, scalable business, just go to land speed, techno forward slash Dave to receive one hundred and fifty dollars discount today.

Well, I was working with this guy once and he was gifted in this area and I would he would ask me a question. I'd start talking and he he would just listen, but you know, he'd listen. And he had a great sense of humor. So somehow, no matter what I said and I don't think of myself as a particularly funny guy, but it seemed like from his perspective, everything I said was funny. Mostly, I think he was laughing at me. And then he would say at the end when I finished, he would say, I totally get that. I totally understand where you're coming from, but hear me out. And that he would like present a slightly different view. And those words hear me out. We're basically saying, I validate what you're saying. But let me offer you a slightly different perspective on it than maybe you're coming from just for your consideration, not trying to force anything on you, but hear me out. How about this? And then it just made me listen, and all of a sudden, I, you know, it expanded my my view, and that's really what we're trying to do with people in these sales calls as well. So that model comes down to really five steps. So the first step is ask questions. Open ended questions are better than yes, no questions any day of the week. You'll learn a whole lot more.

And after you're ready until you're ready to close,

Until you're ready to close, we're just on rapport building right here. We're at the beginning of the conversation. So ask questions now where I think most people tend to fall off the bandwagon is in the second step. Listen to the answers

So far is what two ears? One mouth? Just remember that.

So it's not. It's not here. The answer it's listen, actively listen and try to understand. And it's it's so hard. I mean, we're as it's almost built into us, as human beings. As soon as we start hearing something, we start formulating our response. And you really got to try to turn that urge off. It's about let me just listen. And it's not just listening to the words. It's trying to understand what's behind the words. Because really, what we're trying to discern from people is what is their true motivation? Because that's what we need to tap into. So ask questions and then listen, listen really carefully. And then after you've listened. These next two steps can change the order. But maybe you ask that a follow on probing question, you know, take it down, go go deeper, try to understand a deeper understanding of what is their motivation. That's the goal here. Get the motivation. That's three. So ask listen probe. And then the fourth one is validate, which means, say, I hear what you're saying, I totally get what you're saying. And and then the fifth one is sort of taking that validation to a whole nother level. And that fifth is restate what they're telling you. But in your own words. And so

What? Let me let let let me make sure I understand, and I've got this right. And, you know, repeat it back to them.

And everybody knows that my all time favorite business book is never split the difference by Chris Voss, and he he goes into this in great detail. I forget the exact words he put for. I think he calls it tactical empathy. And so the way you want to start that sentence when you restate it in your own words is, well, it seems to me like what you're saying is blah blah blah blah, or I think what you're saying is blah blah blah or what I think I'm hearing is blah blah blah blah blah blah. So you're saying it in a way that that doesn't say, I get what you're saying. It says, I think I get what you're saying and then you feed it back to them, and that gives them an opportunity to say yes, no. Or, you know, let me correct you. And again, going back to that book, what he's what he wants to hear on the other end of that is not your right. Those are not success. That's not a successful conversation. What he wants, what you want to hear after you say, it seems to me blah blah blah blah blah, you want him to hear. That's right. That's right, is not a personal thing, it means that the concept that you've just stated is exactly what it is I'm trying to communicate to you. And when they say that's right, that means you have validated them and they feel validated. And at that point, they are open to whatever you have to say. But just like we many of us know from our personal relationships until they feel validated, it doesn't matter how right you are, doesn't matter how good what you're saying is, does no matter how good your offer is and how much value you're offering them. They can't hear you.

Exactly right, that that wall is up, you got to you got to break that wall down and, you know, sit back and think about the principles that we're talking about right now. It applies to every aspect of your life, your spouse or your significant other. A friend, your children, your parents, siblings, anybody a colleague it. It absolutely applies. And validation is so important because now see, people ultimately always make you make decisions to purchase or to sell on emotion. It's always an emotional decision. But then you back into it and you validate the decision based on facts, but you don't make the decision on the facts. You make it on emotion and then you validate it with the facts. You know, whether you've got to make yourself feel better or, you know, am I doing a good deal? Yeah, I guess it's got this, this and this now. You know, let me just talk about it from on the on the sales side perspective when we're talking to a buyer. You know, what are we doing with when in the marketing of our properties, we are selling the dream in our ad copy.

We're taught to build a dream and that's in our first few paragraphs. And then we start to talk about the facts and the figures, and we got a table below with, you know, acreage and road access and power and all the those specifics. So I have sold properties multiple times when I had a buyer on the phone that had all these specific requirements, you know, about access and power and sewer and water and all that stuff. But focusing on the dream, the emotional part and their goals, what do you want to do with the property? And so that can lead to a really nice conversation. I want Homestead. I want to hunt. I want to do this, this and that. And then that conversation might lead to the point where they realize they really start to fall in love with this property and realize, you know, that that fifth criteria that it doesn't have on my list that was really a nice to have. It wasn't a must, right? Yeah, this this thing checks enough for the boxes. Let's do

It. Yeah. And I want to do business with you because I trust you. And I like you.

Yeah, but you never got to those facts. Those facts and the figures, because they trusted you and they felt validated. They felt like you heard them. You connected on an emotional level. That's why now the X's and the O's, the data wasn't as important as they made it out to be.

Yeah, exactly right. All right. And I promise you, one hundred percent guaranteed. You follow these steps and you will have rapport and make sales. I'm Garrett. Well, I'm not Gary. David is guaranteeing that this will happen as

If an asshole like me can do it. Oh my god, isn't that the truth? All right, man. I think we bored this audience to death. Everybody, thank you for joining us today and without further ado, have an awesome day or week or wherever we catch you. Take care. Bye bye.

We hope you enjoyed this episode. Had a bit of fun and walked away with some actionable insights that you can apply to your business. Dave and I have got some great content in interviews plan, so don't forget to rate and review. And of course, subscribe to this podcast on iTunes, Google Play, Stitcher or wherever you get your podcasts. If we mention any interesting links or tools, you'll find them in, the show notes. To learn more about land on MBA, visit our web site at Wait for it Land Dot MBA. See you next time on the Land MBA podcast.

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Last week on the Land.MBA Podcast, we talked about important skills that you need to succeed in the land business. In this episode, we are building on those fundamental principals and taking a deep dive into Data, the most important part of land business.

Are you looking to purchase land? Is your land not selling? Understanding the numbers and details about a property is key in determining if the deal will make you money or cost you big time. Today, we talk about the difference between number and data, how you can use data to find the best deals, how to clean your data for accuracy, and how you can use it to get the attention of motivated buyers.

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For coaching and courses go here - https://www.land.mba

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Transcript:

Speaker1: [00:00:00] They say the data are like people getting interrogated, tortured hard enough and will tell you whatever you want to hear. Seriously, though, and our last episode, Dave and I introduced the five skills you need to pay the bills as a land investor. It's fitting that the first one is data. Data sits at the core of land investing. Do it well and you can make a lot of money with a lot less effort. Do it poorly and you can struggle to cover your mailing budget. In this episode of the Land MBA podcast, Dave and I are going deep on data what it is and how you master it to succeed in land.

Speaker2: [00:00:57] Welcome to the Land NBA podcast on your host David along with my co-host. How on earth are you doing today, buddy?

Speaker1: [00:01:08] I'm I'm good. It's getting cold here. Got a sweaters and sweatshirts, and it's all is breaking out fast.

[00:01:18] I know. Fire pit out in with some of my my men's

Speaker2: [00:01:26] Group last night, and yeah, I brought a light rain jacket and it wasn't warm enough. It's the chill is starting to set in here too.

Speaker1: [00:01:37] Yes, sir.

Speaker2: [00:01:39] But we've got a hot topic today near and dear to my heart. The warm you up, especially, you're a data geek.

Speaker1: [00:01:49] Exactly. Well, last time we we talked about the five skills. What did you say? It was the five skills you need to bill or something pay the bills. Five skills to pay the bills. So, yeah, so the first one of those is data. So data, it is. That's what we're going to talk about. And I can't think of anything more important in this business. I mean, there are five skills, but this is without this. The other ones just don't matter.

Speaker2: [00:02:19] Right. It all starts, it all starts with data.

Speaker1: [00:02:22] Exactly.

Speaker2: [00:02:23] Being able to analyze it, being able to use it to your advantage.

Speaker1: [00:02:30] Exactly. But before we get into the meat and potatoes of data, if you are enjoying this podcast and I hope that you are in getting some good value out of it, whether you're watching or whether you're listening to it on podcasts, on on iTunes or Google Play or Stitcher or wherever you get your podcasts, or if you're watching it on YouTube, please like subscribe. Leave a comment. Let us know what you think. Let us know what you want to hear from us. It really, really helps us to deliver great content to you guys. And even if you don't love it, give us a five star review anyway. Just because we're nice guys. Help us out. All right. And with that, you will improve our data. So let's get to it.

Speaker2: [00:03:16] Awesome. Awesome. So, Howard. Biggest question, what is data?

Speaker1: [00:03:23] Data, what is data? Well, it's different kinds of information that are formatted in a particular manner, which then we can subsequently analyze and report on at some point.

Speaker2: [00:03:37] So already? Come on.

Speaker1: [00:03:40] That's the technical definition. I think that within our business, the way that most people immediately think of data is we get a list from the county, from data tree wherever we get it from. And and then we mail to that list. Well, that list represents data. It is made up of a set of records which have a number of fields of information, and we use all that to send mail and to connect with people without that data. We're going nowhere fast, so it starts with data even before we mail. We're using data because we're analyzing counties, and so we're collecting information about those counties in order to say, I want to mail to this one, but not to that one. That is a form of data analysis.

Speaker2: [00:04:37] Very good. Unclear.

Speaker1: [00:04:43] Clears wood, but it should be saying that in software, you've got two different things, you've got software programs and then you've got data. So the software programs are things that store, manipulate and use data, things like CRM systems, pricing systems, mapping systems, whatever they are. But in order for them to have any value, we have to feed in that data, which is the raw information that we're then going to manipulate with those systems, CRM or whatever, so that we can, you know, make use of it for our business. I mean, people like to call the land speed, for example, a CRM system, and to some sense, it is. But what one of the things that it really does, you know, at the most fundamental level, it's a place where we store or collect, store, manipulate and use data. That's fundamentally what it is. The rest is just icing on the cake. All right.

Speaker2: [00:05:43] So. Why is this important and how to a land investor and how would they use it?

Speaker1: [00:05:52] So I think a good way to think about it is something really relevant in today's world is with with with the whole all the emotion around COVID, you've got everybody saying, follow the science. Well, what is the science? The science is somebody. Hopefully somebody credible is doing a study. Hopefully, they're building a model for that study that would be credible. And then they are collecting data. And that's what science is. We observe and collect data and then analyze it so that we can understand the world around us. And it's it's no different here. So it helps us, whereas that helps us understand everything from the spread of a disease all as well as what different therapies and whatnot will help mitigate the spread of the disease. And our case, we're collecting data. And again, we're understanding markets or understanding pricing. We're able to, you know, comp and figure out what market values are. So it really is. It is the entire foundation of our business and it's used across everything. It starts with the county, you know, with county selection, it gets into the mailing, but it goes all the way through to sales. Before I do a sale, a final sale, I've got a pricing calculator and I'm putting all the numbers in and it's telling me, OK, if I if I, this is particularly true, if I'm selling it with seller financing, if I price it with this price at this interest rate, with this term, it's going to give me this ROI, this margin and this number of months to break even. And so I'm analyzing all the way through every stage of the business based on data.

Speaker2: [00:07:42] Gotcha. So we use it to calm properties to prep our mailers. We're going to use it to validate the deals that come in to look at what kind of margins we need to make and price it accordingly based on what's out there, et cetera. So there's different. Stages, types and stages of data. Talk about that a little bit in regards to from, you know, acquisition and the analysis, cleaning your data, things like that. Sure.

Speaker1: [00:08:19] So first, types of data, there's two different types. There's what they call quantitative data, and there's qualitative data. Quantitative data are things that can be measured. So for example, if you're looking at a property, you can measure the sides of the property a number of feet and then you can multiply that. You can figure out what the what the acreage is. You can figure out the elevation from the lowest point to the highest point. Those are all quantitative numerical facts that you can use to evaluate something qualitative would be its attributes. So that would be things like does it have trees on it? Is it hilly or is it flat? Does it have any water features? What is the zoning? And the interesting in both are very important both and in every aspect of the business, because what it allows us to do using that qualitative information is to get a better understanding of how a set of different properties might have something in common. And some of those factors, some of those qualitative factors are referred to, sometimes referred to as metadata. So for example, if I had a still shot picture of David here, that would be a picture. But the metadata around it might say that the picture was taken at such and such a time on such and such a date in Colorado, and it represents a picture of a bald man.

Speaker1: [00:09:48] It's so then if I collect thousands and thousands of pictures, I can say, you know what, I just want to see a subset of pictures that are from people who are in Colorado bald and where the picture was taken in the last month. And then I get a subset of those pictures of of what puts them in common. Well, we can do the same thing in land. We can we can show a set of attributes that we think make a number of properties in common. Now it may be that they're in the same subdivision. It may mean that they're in the same zip code, location, whatever. But aside from those sort of government metadata pieces, we might do it based on attributes. So we might say, actually, what I'm looking for is I'm looking for land between this acreage and that acreage with trees on it with at least 50 percent flat. And you know, and a water feature, whatever, and then collect a set of properties like that. And that would be a cohort of properties. And those are the ones I would use to comp a property because they have the most attributes in common. So qualitative and quantitative.

Speaker2: [00:11:00] And I would say that that is more of a quantity. It's, you know, the difference between qualitative and quantitative sometimes is also between the art and the science. We talk about this business being a lot of both. You know, sometimes it's more art than science because you talk about attributes and, you know, trees, flat part, you know, things like that. View's location may be valuable to one person and not the other as far as a buyer goes. And or, you know, they may wait it a little bit differently than than others. You know, how many times have you sold a property where you know you had a few people look at it and they didn't like it, and then the right person came along and loved it? It's it's very qualitative. It's art and science. So there's no there's no magic bullets, no matter how much you analyze stuff, but you've got to do is you've got to be as quantitative as you can when, especially when you're buying it.

Speaker1: [00:12:04] So you'd like to be, you know, it's funny, my son is so into of all things metalwork. I mean, go figure, how that happened certainly apparently did not come from me. In fact, we went to a whole weekend of blacksmithing last weekend. He was so into it. So anyway, there's a new show on TV called Metal Smith Masters or something like that. And so we're watching it, and two of the contestants on this show had to work together in a team. And one is a guy that designs everything on a computer and then has, like a water cutter, cut exact pieces based upon the design he's created on a computer. He's really good with the numbers and everything else. The other gal is just an artist. She's like, Yeah, I think it should look like that. She just starts working on it. So completely right brain, left brain. But usually the best work comes from a combination of the two. I mean, if you are, it's sort of it's the same thing in business like, you know, you've got financial people. Everything is driven by the numbers and they can't sort of get their head out of the numbers to say, OK, well, what about relationships and what about, you know, sort of the the softer the goodwill and, you know, the softer aspects of value? You really need both. And that's that's true of data, too, and it gets back to this idea of quantitative versus qualitative.

Speaker3: [00:13:19] These are some crazy times in the real estate field. Demand is high, inventory is low. If you're a realtor, a wholesaler or house flipper, you've probably noticed how hard it's become to find quality deals. This is why so many in our industry are looking at land as an outstanding way to add new revenue stream to their portfolio.

Speaker4: [00:13:40] If you're listening to this podcast, you already know that land is a relatively unknown niche of the multibillion dollar real estate market with huge profit potential. Seriously, what other business delivers 200 300 a thousand percent return on investment deal after deal?

Speaker3: [00:13:57] It seems hard to believe, but land really returns 100 to 300 percent commonly and sometimes over a thousand percent deal after deal and in the age of COVID. Demand for land has never been higher.

Speaker4: [00:14:11] Many of our students have already created new revenue streams with land and added six figures to their incomes.

Speaker3: [00:14:18] We've had clients who have achieved multiple six figures in their first year of business. Another pay for all his coaching and pocketed 15 grand on his first deal. Now, not everybody has these kinds of results, but they're certainly possible if you have the right instruction, the right support and highly experienced mentors.

Speaker4: [00:14:40] You don't need another course that promises the moon and then delivers an elementary school education. You need a proven program suitable to your experience and ambition. You need a land MBA. The Land MBA is everything you need to blow it out in the land, business, courseware, mentorship, tools, community and even deal funding. Look, because you're here listening to me, you know that Dave and I don't hold anything back. That's a founding principle we've had from the beginning with the land MBA. You get everything we have to offer. There are no upsells, and now through popular demand, we have transformed our highly regarded one to one coaching program into a small group format at a fraction of the price. If you're ready to build a six figure income with the freedom of being your own boss, go right now to WW W Land NBA fortune. That's WW W Land, NBA fortune. Let us help you create your next path to wealth.

Speaker2: [00:15:44] So talk about the types. Let's talk about the stages of data, and this, I think, gets into a little bit of the meat for the land investor because it's more about the process.

Speaker1: [00:15:56] Yeah. So this is definitely not going to be a discussion of pure data science. I, I think I might have mentioned once before that when in my last corporate job, the first person I hired was a PhD data scientist and utterly brilliant. I'm still quite the novice in this area, but everything I know she taught me, so I probably will not be getting, you know, it won't be perfectly complete in my definition is maybe a little bit wrong. But what I tried, what I'm trying to do here is pull out those things that are meaningful to the in community and using words that I think would be meaningful to the land community. So the first thing that we want to do with data is acquire it. We have to get it from somewhere and we're probably not going out and getting it ourselves. So it's usually it starts with some kind of government data or some kind of an aggregated data, whether it's from a data tree or Zillow or from wherever. The next thing that we want to do is we want to clean that data and I'll go into all these in a little bit more detail. But the next thing we want to do is clean the data and that is so important. It's the one thing that I think a lot of land investors may not take quite as seriously as they should. It's definitely an opportunity for improvement.

Speaker1: [00:17:20] And then the next thing we want to do is once we have clean data is we want to analyze it so that we can understand it. And that's where this whole qualitative and quantitative analysis comes in. And then we want to report on it or use it. So acquisition really starts with where are we getting this stuff from? So let's just say we're talking about a mailing list, right? We create a mailing list in data tree, right? I create this list for people all the time. At the end of the day, the next question you want to ask is worse data tree getting the data from. Well, they're getting it from the county. Well, how good's the data? That really depends on the county because they're they're actually the ones that are collecting it. So what is the data? The data represents their records of who owns what. So hopefully they're maintaining good records. But, you know, sometimes they're not. And and some, you know, a lot of times people pass away, people move. How well is that data maintained over time? You know, are they are they capturing that information? Sometimes good, sometimes bad. When we've, you know, for those of us that have been in enough counties and enough states, you know, we know that there are some places that just have great data like Florida's data is amazing, probably the best data in the entire country.

Speaker1: [00:18:42] But there are other places where it's just not so good. I did. I was working on a deal in Costa County, Colorado, and give me an example of how data can really trip you up. Is what I if you want to know, the size of the property in Castilla. It's kind of a manual process. You have to go look into the legal description to find it. So I did that, and so I had and I had a V.A. do that, and so I sent my mailers out based upon that. Well, then I had an opportunity come in person, was all excited. And I went to the GIS system and I actually put a polygon on the property and the size of the property was an order of magnitude different than what was in the legal description when I pulled it up on the GIS system. So I called the county and I'm like, What's going on with this? It's like, Oh yeah, those two systems don't talk to each other. I think it's so I basically had priced the property on an incorrect size because that was what was in the data. So data is very imperfect and the more we clean it, the better it's going to be. So we need to be conscious of where we're getting it. I'll give you another example is I generally would never provide lists to people in the Carolinas and probably Georgia as well, because no matter when I when I click the buttons and say, look at I only want vacant land and then I'll say, Look, I want it where the living square foot footage is zero and I do all kinds of little things in there to try to make sure I'm only getting vacant land.

Speaker1: [00:20:22] But invariably a lot of the data that comes back has a building on it. And that's just because the nature of their data and how it's presented, so it's so hard that I don't even provide lists there anymore. You know, if I was going to invest there myself, I would have to figure out how to overcome that. But just using like a data tree, it's very, very difficult. So that's acquisition. You want to know where where are your sources of data are? What it's going to cost, how you're going to get it, what format it's going to come in? Is it going to come in as an Excel spreadsheet? Is it going to come in as a CSV? Is it going to come as a PDF, as a word document data? You know, I've gotten a delinquent tax list and they're literally photographic PDFs. And the only way to get make anything value about it, you've got to give it to somebody like a VA and have them transcribing, which then leads to potential human error.

Speaker2: [00:21:15] Right, right, you know, I had one of those same Castilla County when I was first starting maybe the third or fourth property I did and I missed that acreage thing and I actually so my offer was based on 40 acres. And after I bought it, I discovered it was about 20 acres.

Speaker1: [00:21:35] Oops.

Speaker2: [00:21:37] Yeah. Luckily, I bought it cheaply enough to where I was able to, you know, bail out of it and still make a little bit of money. But yeah, it could have been bad.

Speaker1: [00:21:45] Yeah, so. So when you collect that data, if you just use it and you don't like, clean it up or check it, you could get yourself into trouble. And that's where that great little acronym comes in. Guy, go. Garbage in, garbage out. So all data, I don't care how good it is, needs to be looked at, needs to be cleaned up. And so that gets to the next step, which is cleaning the data. Sometimes in our business, we just call it scrubbing, scrubbing, but scrubbing is not perfectly. It's not the perfect word for it because a lot of times what we mean by scrubbing is I want to eliminate records that are not of interest to me. It's not my strategy. It's too expensive. It's the size is wrong, whatever it is. So I want to just have the columns. Yeah. Well, so formatting columns, that would be an example of cleaning, but refer

Speaker2: [00:22:37] To the scrubbing.

Speaker1: [00:22:39] Yeah, exactly. No, it's true. So it kind of scrubbing encompasses all of that. But normally cleaning would just mean getting the data in good shape. Right. So an example would be maybe you pulled the data down and has the entire mailing address as one field. So you've got this this the street city state zip, all is one field. But when you want to get to the mailing, the way you're mailing set up is you really want those in separate. You also I want one for street address, one for city, one for state, one for ZIP. So how do you break that up? And that becomes a whole kind of Excel formula exercise. But that's an example of of cleaning the data. The other the other. Another aspect of cleaning is is augmentation. Sometimes when you get the data, it doesn't have everything you need in it. And so you've got to find another source of data that has the information you need and then find a common key. So like maybe based on the APM, if they if these two data sets have the same APN, then I can take my first data set, create some new fields and bring in the extra data from the second data set

Speaker2: [00:23:45] By skip tracing.

Speaker1: [00:23:46] Skip tracing is a great example of that. You know, maybe I want to add email addresses and phone numbers into my data, right?

Speaker2: [00:23:52] So maybe I want to do that because I want to do SMS campaigns in addition to to direct mail. Yeah, yeah, for sure. Very good. So we've talked about so we've got where where is data used in the land business? We talked about creating a mailer and scrubbing that data, cleaning that data. So. We want to use it for county selection area selection, pricing, property analysis, so in county selection, you know, state and county selection. What are some of the key pieces of data that we would use to decide on a place to invest?

Speaker1: [00:24:43] I think that the answer to the number of answers to that question is equal to the number of land investors out there. I know how we do it and how we teach it. And I, because I like data, I like to get as comprehensive as I can. Some people think, you know, some people are, you know, a little bit more of let me throw a dart at the at the dart at the map and see where it lands. But I think that the two most important metrics I care about are how how active is the county with relationship to buying and selling raw land. And the second one is how fast are properties moving? Are they sitting for six months or are they selling rather quickly? Those two are head and shoulders above everything else. Everything else becomes qualitative. Right. So now I might say, what's the quality of the land there? What's going on? I shouldn't say it's not all qualitative, but what's going on in terms of job growth or unemployment. What's going on with the economy is what's going on with demographics are more one of the one of the metrics I always like is net migration, which would be the amount of people moving in versus the amount of people moving out of that county.

Speaker2: [00:26:05] And let me let me just interject there because I think it's really important for the state as far as because I want to see sales growth in the county, right?

Speaker1: [00:26:16] Absolutely. Activity, but

Speaker2: [00:26:18] That county where people have bought a lot of recreational lots or lots that they want to do something, build something on some day, you could still have negative net migration in that county. But the county next door has or two counties over, which is kind of in that two to three hour perimeter for the vacation home for the weekend has migration growth. But the actual county that you're looking to buy in is could have negative migration. So that one is when you got to kind of take with a little bit of a grain of salt.

Speaker1: [00:26:56] I think that's the interesting thing is we, you know, we didn't get into too much detail about how to do analysis and the reporting and all of that. There are many factors that can go into an analysis and then you can weight the factors and say this one's more important than that one and you can score. I tried to do this when I first got in the business. I'm like, Oh, I'm going to use data, I'm going to, I'm going to blow it out. And I created this massive, massive spreadsheet. It had every county in the country, all three thousand one hundred and fourteen of them. And then I collected I just pulled in all this information from the U.S. Census Bureau and Land Watch and from all these other sources. And I created this massive spreadsheet with all of these metrics, and then I waited each of the metrics so that I could give each county a score of what I thought would be like the perfect county for land. And then I could just fill. I could sort it, and then I can say OK in any given state. This is that this is the order of from the best of the worst. Or I could do it nationally and say this is from one all the way to three thousand one hundred and fourteen. And boy, that didn't work.

Speaker1: [00:28:04] So but you know, you figure out what matters to you and sometimes, you know, and that's a really good point is, you know, I like net migration. My belief is that if a county has started out with the most important things, right, if it has a lot of activity, if properties are moving fast, then a positive net migration will only over time will only improve that. The other point that you made, which is which is great, is sales growth. You know, if you put those things together, then a positive net. If I have two counties that are kind of comparable in terms of activity and sales growth in the rest, and one has a positive net migration, when has a negative net migration, I probably would lean to the one that has the positive migration, but that's only if all things are equal. So you have to look at all of the different kind of factors and then in in the totality and then you can make a decision. And that's where that's where the human part comes in. It's about the analysis and you're looking at that data. Through the lens of your strategy. So two people could look at the same data based upon looking at five, six, seven different counties and come up with different conclusions based upon what their strategy is.

Speaker2: [00:29:25] Hey, folks, people often talk about automating and outsourcing your land flipping business, but what does that really mean? Generic solutions leave it to you to figure out how to set up and maintain the automations. I've been running my land business on land speed for over three years because it's a total solution and allows me to focus on being a great land investor. Land speed was built specifically for land investing by land investor and with many of the most successful people in the business using it for years. It's evolved into one of the most feature rich solutions on the market. Some of the key benefits I get are being able to create and manage mail campaigns and neighbor letters. I'm able to automate tasks amongst my team, create contracts and deeds and email text or mail them within a few clicks. I can automatically capture sales leads from any lead source, including Facebook Messenger. Then it automatically pushes those leads into my sales funnel so that I can manually follow up, but they also go into my automated drip campaign. And since Lance Speed's a total cloud based solution, I can run my business from anywhere in the world with a phone, laptop or tablet. So if you want to. Turn your hobby into a professional, scalable business. Just go to land speed, techno forward slash Dave to receive one hundred and fifty dollars discount today. We've got that.

Speaker2: [00:30:53] We've covered four county area selection, some of the some of the key metrics that we want to look at. And then, of course, obviously for pricing. And then once we get a deal in, we want to be able to look at so when you're pricing your your list, you're looking much more comprehensively at at the comp data. It. I mean, a lot of people will, you know, print a map and write down values on an area of map, a map and kind of figure out the average price per acre and go. And in those areas and then others will just, you know, price the whole county based on a price per acre. And, you know, throw enough dang on the wall and see what sticks and others will get down much more micro and price small areas on the map so they can get more accurate and more concise on their pricing. That's very time consuming, and I'm just going to plug a little tool that you make that I love to use for that. And it's called Price Boss, and it's very helpful for letting you capture a lot of data off of sites like Zillow and Lands of America and figuring out the median price per acre. Setting up your acreage splits and pricing it, and I find that tool invaluable really helps me nail down my pricing pretty accurately.

Speaker1: [00:32:32] I appreciate that. You know, this is sort of the debate of neutral offers versus blind offers, you know? So in blind offers, you put forth a lot of effort before the mailing goes out. In Neutral offers, you put forth a lot of effort after the mailings go out. And but the trick is, you know, for me with pricing, when you're doing blind offers or even range to offers, the goal is to get as accurate as you can possibly get without killing yourself. Because you know that only half one at the match three percent of a list is going to convert. Most of them are not going to convert. So you don't want to kill yourself at the beginning. We've got to remember in our head what is the purpose of that letter? That letter, the purpose of that letter is to generate a conversation.

Speaker2: [00:33:26] Yes, exactly. What you talking about is getting lost in analysis paralysis, right? You know, we can we can. We can over scrutinize and overanalyze the data. And I mean. It's something that you learn over time, because pricing Mailer's is is, you know, again, it's a lot of art mixed with science. And, you know, sometimes you've got areas where you've got lots of comparables and you can plug those in and feel pretty confident that you're in the ballpark. And that's just it. You're trying to get close enough to get people on the phone and have a conversation. And inevitably, I don't care whether you're going to piss some people off and it's just part of the business and you're going to price some way too high and get a bunch of calls like, Hell, yes, I'll take that offer. It's the best offer I've had in years, you know? And then you go and you look at it and you're like, Oh yeah, I screwed that one up, and then you try to walk it back. And you know, many times that's successful. Many times it's not. But you had a conversation.

Speaker1: [00:34:38] Yeah, when I first got into the business, the guidance that I received was go find a couple of comps, you know, maybe five to 10 comps off of Craig's List, maybe LaneWatch, average them together. Figure out, you know, and then and then basically price your county based upon that, the whole county. And it was. And so you kind of had to. There was two primary methods back then. It was OK. Everybody in the county gets a $500 offer. Or everybody in the county gets a two hundred and fifty dollars per acre offer, and I just multiply it times the parcel size to get my actual offer. And in both those cases, it's just horrible. And what's horrible about it is it generates a ton of missed opportunity because what's going to happen in that situation is there will be a sliver of properties where your pricing is pretty close to being right. A sliver. And it was a reasonable chance you'll get a call from those people. Then there's going to be this huge group of people where the price is way too low. And they're either going to throw it in the trash or they're going to call you and tell you how much they hate your guts. Either case, you know, you're not getting deals out of it, and it kind of wastes some time and then you're going have this big group of properties that are way overpriced, in which case your phone's going to be ringing off the hook and you're going to realize you're not able to actually do those deals once you get into due diligence because those prices will not yield a profit.

Speaker1: [00:36:10] So if you can get a very good ballpark right before you send your letters out, then fewer are going to end up in the trash can. And in the some of those that would have otherwise ended up with the trashcan may actually call you and you can get more deals out of it, and it'll save you a bunch of time because your phone's not going to be ringing with a bunch of deals that you're not going to be able to do anyway. So it saves time and it will get you more deals. The trick is to be able to do that without killing yourself, and that's why you need tools. There's there's a few different ones on the market right now. I think they're all pretty good. Obviously partial to to price boss. And the primary reason I'm kind of partial to price boss is because. Everything's everything is built on assumptions, right? So, for example, when you get a set of comps from Zillow or Lens of America or the county, wherever you're getting them from, some of those comps won't make any sense.

Speaker1: [00:37:15] Right? Let's just say it was a family transaction. Ok, I sold this property for one hundred bucks. You know, it's worth $50000. That doesn't make any sense. Sometimes it goes the other way. Sometimes they're trying to shift for tax reasons. They move it to another entity, and so they sell it for some, for more than it's worth. That happens from time to time. Do, or sometimes a property sells just for more than it's worth. But it's it doesn't make any sense when you look at the larger market and those are called outliers, and you definitely want to pull outliers out before you do your full analysis and say, OK, this is the price per acre for this group of properties. What is an outlier and what isn't an outlier? Well, it's very difficult for machines to figure that out. It can be done, but it's built on assumptions. Sometimes those assumptions are right, and sometimes they're wrong. You brought what? You brought a real interesting up one time, Dave, about the situation where what happens if there are multiple properties on a single deed? It really screws everything up.

Speaker2: [00:38:21] Yeah, yeah, exactly. So for example, you know, you'll see this on if you're looking at Zillow sold and if you have data tree up with with the sales and sales turned on, you may find a cluster of properties two or three or four or five properties I've seen that are sold very close to each other, and they have they all have the exact same price. Well, if you're just using an AI tool to scrape that data, you're going to let's say these, let's say you've got twenty five thousand dollars and you've got, you know, five properties that also for four, twenty five thousand, you're like, Oh, that's great. You scrape that in, well, the the the software is going to interpret that as, you know, twenty five thousand cops, twenty five thousand dollars each. And but if you if you click on them, for example, in data tree, you'll see that, oh, it was the same buyer for all of these. So they essentially bought all five of those properties for twenty five thousand. So your actual comp is five thousand. Right? And so that can that can fool you. And so that and I am not sure that some of these automated tools are taking that into account when it happens. You can do that in price plus, I mean, it still can slip by you, but it's something that you have an opportunity to manually manipulate that and delete those fields if it looks fishy, fishy to you. But it's something that I it fooled me. I didn't catch it until, you know, probably only about a year ago, and I've been in this business for six years.

Speaker1: [00:40:12] So, yeah, I mean, when you talk about cleaning data, this is especially true in pricing because let's just say I've got two price two properties and they translate into the same price per acre. Well. If they are to properties and that's valid, what if they're the same property, it's just a duplicate data. It actually manipulates your number and makes it too high or too low because you're you're counting too many properties that that aren't real. And so that happens again, this it's important to understand where your data is coming from. So Land Watch Lands of America land a farmer, all the same company now and not all, but most properties that go into that system are syndicated across all the platforms. So if you pull data from Land Watch and from Lands of America, you're going to end up with a lot of duplicate data. Sometimes people just post multiple times. So what we did in price bosses, we set it up so that you can sort it, and it basically highlights where all your duplicates are. So you can look at that and say, Is this really a duplicate or is it not? If it is, you delete it again. You know, machines can do some of that, but it's built on assumptions and sometimes it's right and sometimes it's wrong. And if you don't have the ability to kind of go in there and put your own little decision making on it, you know, you get what you get.

Speaker1: [00:41:32] I like I'm a bit of a control freak when it comes to data. I like to see it so. So I like to take that out. And then what? What what we do is we create a graph called a scatter plot in one on one access. It'll just have acreage. So it'll go anywhere, you know, can go from whatever range you put in there, but say zero to a thousand acres on on the x axis and on the y axis, it has price per acre. And so what you'll see is that across all the comps that you've collected, it tends to build clusters. But it also will show you on this on this scatter plot, those properties that are way, way up high or way way too low, and they're not part of any clusters. And those are most likely your outliers, so you can easily find them and make a decision, whether you keep them or or you get rid of them. And that's the cleaning part of it, and it takes a bit of time and effort. But the more you do it, the better you get at it and the less time it takes you. But once you've done it, boom, you know you're ready to get some very accurate pricing. And with that, hopefully you'll get more property, more deals and less wasted time.

Speaker2: [00:42:40] Right. So I just want to bring up one more piece of data that I think is important that we for tracking and deciding where we spend our marketing dollars and in this business and that is, you know, tracking where your leads are coming from. If you are set up with the various sources, like if you have a Lancome account, you know you're going to have leads coming from the three different lands of America land and farm and land watch and then maybe use land flip. Maybe you do some Facebook and some Craigslist and any other source that you have. It's really good to measure how many leads are coming from from these sources and which ones have the highest rate of conversion as well. Like, we know that, for example, Facebook, you get a high number of leads, but the quality of lead may not be that great. And so it's really good to measure. You know, Facebook has become Facebook Marketplace and groups has become a very challenging place to market, and it now is very labor intensive. They flag you, they shut you down and and things like that. So, you know, I recently analyzed my my data on the number of leads, but not just the number of leads, the number of properties that we actually converted on Facebook and just decided it's not worth the effort anymore, at least not the way we were doing it.

Speaker2: [00:44:16] And so I'd rather take the labor that I was paying, even though Facebook's free you get, even if you're, you know, paying a cheap VA, I was still spending, you know, two $300 a month on that VA for posting in Facebook. And so you have to take a look and go, Well, maybe it's more advantageous if I take that than a couple hundred bucks and and increase my exposure on land or land, flip and do some of their boosts there and things like that, or flat fee meals. So you want to be able to have a tool, a system that measures where those leads are coming from. I'm going to plug land speed again as that's all my leads come in and they automatically tick off the box. You know where, where the lead come from. And so I have a ledger on the left hand side that shows my my lead count. And then I can also show, you know, which which leads source converted. And that's a very good piece of data to track to know which is my best lead source, not just for leads but also converting them and where I spend my marketing money.

Speaker1: [00:45:31] You know, it's a real it's just a really good point that you made, which is there's there's how many leads are generated and then how many convert. And so you collect the data. But when you get to the analysis and the reporting side of things it's about, we don't need to collect and analyze and report unless it's going to actually lead to decisions that improve our business. Otherwise you just doing it for the sake of doing it because you like data. That's all fine. But you know, we want to exert ourselves in ways that are going to improve our business. So, you know, it starts with asking the right questions. You know, if you start to say, OK, you know, what are the what channels are working best for me? What matters most? I mean, is it leads or is it is it conversions? While I would argue it's conversions. So that would, you know, that would be a great example of that. And yeah, so I mean, it all starts with asking the right questions.

Speaker2: [00:46:30] Yeah. You know, because it all it all translates into labor as well, right? Because if I'm getting just like the Facebook example, if I'm getting a lot of leads, but none of them are converting, I mean, those leads got to be followed up, and some of them are just depends on how you handle your leads and how you rank them. You know, sometimes if they're just an email that came in and I just let it go to the auto responder if it's Facebook. But you know, if somebody gives me a phone number, they're getting a call, you know, so it's and they're getting a manual email on top of the auto responder. So, you know, if the lead quality is really crappy from a certain. Source, you either want to. Stop that source altogether or just, you know, put them on automation period and don't do a manual follow up. So all of these points of data are control how you operate your business and, you know, think about the parade or principle all the time, right? 80. 20. Yeah. Great point. All right, I think we beat the horse dead.

Speaker1: [00:47:39] I love it. Well, this is an important horse. And if you don't master data and you don't, you know, if you've got kind of a background in this and you've played around on Excel spreadsheets and things like that, it's probably not going to be terribly hard for you to to master it within this business if you don't have that background. It's just one of those areas you want to make sure that you are. You are improving all the time because the better we are with data, the better this business is going to run. It's just there's just no way around that. It is, you know, one of the five most important skills to pay the bills.

Speaker2: [00:48:19] All right. That was a great talk. We'll talk to you soon. Adios, everybody.

Speaker4: [00:48:24] Yeah, we hope you enjoyed this episode. Had a bit of fun and walked away with some actionable insights that you can apply to your business. Dave and I have got some great content in interviews planned, so don't forget to rate and review. And of course, subscribe to this podcast on iTunes, Google Play, Stitcher or wherever you get your podcasts. If we mention any interesting links or tools, you'll find them in the show notes to learn more about landed MBA. Visit our web site at Wait for it landing MBA. See you next time on the Land MBA podcast.

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If you aren't doing these 5 things, you will struggle to grow in the land business. Doing 3 of these things will put you on the path to success. In this episode, David and Howard discuss the 5 critical skills you need to increase your sales, get you better deals on property, and make your life easier.

If you want to create a saleable business that will grow with your needs, these skills will help you master the challenging aspects of land investing so you can have time to do the things you love, like spending time with your family.

Let’s Connect

For coaching and courses go here - https://www.land.mba

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Speaker1: [00:00:00] They say the devil is in the details, and that certainly is true. But the parade principle also states that 80 percent of consequences come from 20 percent of the causes translated to land. That means that 80 percent of success can come from mastering 20 percent of the skills. Today in the Land .MBA podcast, Dave and I are going to go to introduce the five skills that all land investors must master to build extraordinary, scalable businesses. This is a short podcast to introduce the five skills. In the coming weeks, we're going to go do a deep dive on each skill in between our usual interviews. But for today, just sit back for a meaningful overview of the five skills you should master to be a master land investor.

Speaker2: [00:01:04] Hey, hey, how's it going today, Howard?

Speaker3: [00:01:08] It is just another fantabulous day to be alive, I guess.

Speaker2: [00:01:13] Well, hey everybody. Welcome to the Land.MBA podcast today. We are going to talk about the great topic that

[00:01:22] I think you'll all be interested in. But first, Howard,

Speaker2: [00:01:27] If something set.

Speaker4: [00:01:30] Well, thank you all for listening to our podcast without you. You should all be for nothing. So please, please, please, if you get any value out of our podcasts, please rate review and leave a comment, whether it's on iTunes, Google Podcasts, Stitcher, Spotify, wherever you get your podcasts. It truly helps us increase in the rankings and be able to get great guests and

Speaker3: [00:01:55] Continue to offer this awesome content for free. If you watch it in YouTube again, please subscribe and leave a comment. It really, really drives the the algorithm. And even if you don't like it, do it anyway. We could really use the help, so anything you can do would be wonderful. Clicking a button has a lot more impact than you could possibly imagine, and it is our goal to continue to deliver as much value as we can for as far into the future as we can. So please, please, please do that.

Speaker2: [00:02:25] I love it when you beg.

Speaker3: [00:02:28] Yeah. That's the first and last time you'll ever hear it.

Speaker2: [00:02:33] So our topic for today, the five skills that every land investor must master to be successful in this business or at least become proficient at most sensei.

Speaker3: [00:02:49] Yes.

Speaker2: [00:02:51] So what are those, my friend? Let's get it started now. Right? Let me just preface this real quick for our audience. So we're going to cover this at a high level today and then in future episodes intermixed with with interviews and things like that. We're going to take a deep dive into each skill set.

Speaker3: [00:03:12] , so what are the five fundamental skills that every land investor must master? To become a truly successful land investor, so the first one is data at heart, this is a data business, so you have to get comfortable with data and we're going to talk at a high level about what data is and what you do with it and where in the land process you do it. And then we'll go in much deeper in a future session. As Dave said, the next skill is relationship building. At the end of the day is a people business. We're always on the phone, we're talking to sellers, we're talking to buyers and we're asking them to trust us to have transactions worth thousands or even tens of thousands of dollars. And that doesn't happen without trust and relationships. So how do you do that? Third is negotiating. We're buying, we're trying to buy property at a very, very good price. So we're looking for distressed opportunities and we want to make sure we get those good prices while maintaining a relationship, which is a challenge in and of itself.

Speaker3: [00:04:19] And then, of course, on the sales side, same thing. We want to get as much as we can reasonably get and maintain those relationships. The next one is process without process. You can start this business, you might be quite inefficient, but you're not going to be able to scale it. And if you want to be able to make the big bucks, you've got to be able to scale. So we're going to talk a bit about process. And then last but not least, the probably the most fundamental skill in everything in life sales. So to some extent, everything is, is sales. And I've heard them say negotiation, too, which is part of sales. You know, they say that getting your kid to go to bed at night is a negotiation. They say that to getting getting your kids to do their homework is negotiation. But you know, at the end of the negotiation, you have to be able to close the sale. So that's what it's all about. So to sum up, data relationship building, negotiating process and sales.

Speaker2: [00:05:23] Very good. So let's let's talk about a couple of the high points in each skill category in this podcast. So I mean, one of the things that I use data for is my county area research, state and county area research. I want to look at migration trends, population trends, sales trends for are just some of the items that I look at for selecting an area. Of course, you want to make sure that the the county has, you know, good GIS, good GIS system and availability to get the additional data, such as deeds and other types of paperwork without too much pain. What else? Howard, pricing, property analysis, comps, things like that are very, very important to to use data for and you have to be able to master these skills.

Speaker3: [00:06:25] Yeah, let's let's talk a little bit about synonyms for data, because sometimes people are working with data, they don't realize it's data. Uh, when we do when we send out direct mail in order to be able to do that, we have to build a list. That list is data, so it's just hundreds or perhaps thousands of records with a lot of fields of information in it, and that is data. And I think some of the ones you were talking about in county selection spot on. I mean, my two, my two top most metrics that I look for in county selection are activity. What's the activity level relative to, say, other counties in the state and the other is how fast our property is moving? Well, how do I figure that out? I collect data and and I analyze it. So and then pricing same thing. What are we doing? We're collecting up comps and we're trying to figure out from all of that data what is the market value of properties of certain of certain sizes and types?

Speaker2: [00:07:32] Yeah, absolutely. So we could go down. You know, we could spend an entire episode easily just on on data and those topics. So we'll we'll do another detailed episode. Let's get into

Speaker3: [00:07:46] The I may yeah, you just want to introduce one last bit on on data. And that is there are different stages of how we do data and we're going to go into all these details in a subsequent podcast. But I just want to introduce it. First thing we have to do is we have to become really good at acquiring data, which means we have to know where to get it, how to get it. Is it free? Do we have to pay for it? What format is it going to come in? You know, a lot of times when people started in this industry, they think, Oh, I'm going to I'm going to get a delinquent tax list and then you go to a county and then you find out that the delinquent tax list is is delivered as a photographic PDF document, which you can't really do anything with. So then you got to have some VA spend hours and hours of time trying to transcribe it, which is a disaster. Other times it's maybe it's an Excel file, maybe it's a word document, whatever it is, but you've got to acquire the data. The second stage of data is augmentation, which oftentimes in our industry is called skip tracing. So maybe you want to get you've got basic information, but you want to get some more aspects to it. Maybe email addresses, phone numbers, whatever. The third step is we need to clean the data, and this is probably the most important aspect of data. Anybody who's worked in data for a while is familiar with the term Gigio, which means garbage in, garbage out. And if your data is not good, it means you're going to spend a lot of money on mailing that probably won't result in anything. Hmm. And then the last part of it is analysis. So now that we've got all this data, how do we analyze it so that we can actually make good business decisions? So that's what data is. Those are the steps of the data, and we'll get into more of that subsequently.

Speaker2: [00:09:30] All right, cool. So the next one is relationship building. And you know, we've also gotten not to get too far ahead, but we've also got negotiation and sales on that. And they're very they're all very interrelated because at the end of the day. Your. Objective is persuasion to persuade someone to do what you want him to do so, but the first part of it is building a relationship and you're doing that mostly over the phone. There might be an email or a text here and there, and this is worth sellers and with buyers. So you've got to understand rapport building, you know, certain questions to ask and things like that and. Most of all, the analogy I like to to use is you have two years in one mouth. Use them proportionately when when trying to build rapport. These are some crazy times in the real estate field. Demand is high. Inventory is low. If you're a realtor, a wholesaler or house flipper, you've probably noticed how hard it's become to find quality deals. This is why so many in our industry are looking at land as an outstanding way to add new revenue streams to their portfolio.

Speaker1: [00:10:50] If you're listening to this podcast, you already know that land is a relatively unknown niche of the multibillion dollar real estate market with huge profit potential. Seriously, what other business delivers 200 300 a thousand percent return on investment deal after deal?

Speaker2: [00:11:07] It seems hard to believe, but land really returns 100 to 300 percent commonly and sometimes over a thousand percent deal after deal and in the age of COVID. Demand for land has never been higher.

Speaker1: [00:11:21] Many of our students have already created new revenue streams with land and added six figures to their incomes.

Speaker2: [00:11:28] We've had clients who have achieved multiple six figures in their first year of business. Another pay for all his coaching and pocketed 15 grand on his first deal. Now, not everybody has these kinds of results, but they're certainly possible. If you have the right instruction, the right support and highly experienced mentors.

Speaker1: [00:11:50] You don't need another course that promises the moon and then delivers an elementary school education. You need a proven program suitable to your experience and ambition. You need a land MBA. The Land MBA is everything you need to blow it out in the land, business, courseware, mentorship, tools, community and even deal funding. Look, because you're here listening to me, you know that Dave and I don't hold anything back. That's a founding principle we've had from the beginning with the land MBA. You get everything we have to offer. There are no upsells, and now through popular demand, we have transformed our highly regarded one to one coaching program into a small group format at a fraction of the price. If you're ready to build a six figure income with the freedom of being your own boss, go right now to WW W Land NBA fortune. That's WW W Land, NBA fortune. Let us help you create your next path to wealth.

Speaker3: [00:12:54] Absolutely. And it's, you know, if you haven't done this before, it's it could be a little intimidating talking to a bunch of strangers that you've never met on a phone where you can't see any facial expressions. Of course, now in the age of Kobe, you can't see facial expressions anyway because everybody's wearing a mask. But it's it's it can be a little intimidating. And and I think for people who have are not very experienced at this, there's a certain drive towards getting right into the meat and potatoes of what the topic of the conversation is. But when you do that, you you miss that whole front end, which is finding a connection between yourself and that other person so that you can so that they drop their their guard down and can actually hear what you have to say and trust that what you're saying is is true and in their best interest. So absolutely an essential part of the sales. The front end of the sales process?

Speaker2: [00:13:47] Yeah. And just real quick not to get too into the weeds, but you know, very simple things like where you from, where you live, where how's the weather, you know, get into, you know, you could talk about family things like that. The it's about starting a conversation and then you see where that conversation leads to and you start to build a little bit of humanity. You've just sent the, you know, if it's a seller, you've just sent them a a very low offer for their their property. And you know, their guard is up and and they want to know that a you're not trying to scam them and things like that. So it's very important just to talk about things that that get you onto a human level with them. And it's not just all about straight to business.

Speaker3: [00:14:39] Yeah, there's a there's that quote I love, which is all things being equal. People would rather do business with people they like, and all things not being equal, people would rather do business with people they like. So developing a bit of like at the beginning is as is just so critical and an absolutely essential step to becoming a successful land investor.

Speaker2: [00:15:01] Yeah. And turning that like into know like and trust. Yeah, exactly. So cool. All right. So negotiating. Obviously, every conversation is a negotiation and negotiation is about persuasion. So how you want to talk a little bit about that from your perspective?

Speaker3: [00:15:24] Yeah, for sure. Everything is a negotiation. Getting your kid to go to bed at night is a negotiation. You know, getting getting whatever. It's Oh, everything is negotiation. So one thing that I think helps us in our goal in negotiating and being persuasive is the other person needs to know that you are not just there's not an ulterior motive that you actually are coming at this because it's it's it's in their best interest. I think you had a saying, Dave, I remember you saying it was something like, you know, people don't. Was it people don't care what you have to say until they know that you care or something like that?

Speaker2: [00:16:04] Yeah, yeah. Yeah. People don't care how much, you know until they know that you care.

Speaker3: [00:16:08] Exactly. And so it's, you know, I find that it's really important before I ever get on a phone call to just get my head straight and just to remind myself that I'm not on this call to make money because if I have dollar signs in my eyes and in my head, the entire conversation, whether I use the words or not, somehow it's coming across that this is all about me. But I need to remind myself that if I'm going to have a successful conversation, it's really about them and helping them understand what's in their best interest and how what I have to offer will help them achieve whatever it is they're trying to achieve. And that is an essential part of negotiation because once we can do that, then they're going to hear us. But there are many, many other negotiation is a huge, huge topic. You know, people spend hundreds of thousands of companies spend hundreds of thousands of dollars on negotiation training, and this is one of my favorite topics. So I can't wait to do this podcast, but we're going to talk about some of the best books and resources for it, as well as just, I think the point that David made at the beginning is important. Every conversation at some level is a negotiation or it's setting up a negotiation. And maybe if I could just offer one example just to tease it a little bit. Um, when you do a self close in our business, we typically create a deed, we send it to the customer and they they sign it in the presence of a notary and send it back to us.

Speaker3: [00:17:42] We record it and send them a cheque. And that's the way we would like to do it because it protects us. We don't send them a cheque until we know that we've got a deed recorded in the properties in our name. But it's sort of like when your kids on the playground says, Well, I'll give you this and then you give me that. It's like, Well, no, no, no, no, I'll give you this, and then you give me that, and it's like, All right, we'll do it at the same time, you know? And then because, you know, maybe there's not enough trust. Well, no matter how much trust you build on a phone and a phone relationship, at some level they're going to say, Look, I don't know you that well, and how do I know you're not going to keep my check and not send me the proper or how you're not going to take my property, not send me the cheque? How you set something like that up makes all the difference in the world, because if I did a mobile notary for every deal, that would be another fifty seventy five dollars out of my pocket on every transaction. So just to give an example of what I do, I say something like, Well, so let me tell you what the next steps are, and I make it so casual, nonchalant, right? It's like, I'm going to create a deed and I'm going to send it to you. So it'll be perfect and you just need to go get that signed in the presence of a notary.

Speaker3: [00:18:48] You can just go to your local bank and they usually do it for free. Send it back to me and I will. Once I get it, I'll issue the cheque and and you'll have money in your pocket. And then sometimes they'll say, Well, how do I know you're going to send me the money? And then in this next part is really important how you say it, right, so I say, well, that's our standard process. But I understand where you're coming from. We show empathy. I understand exactly you're coming from. We've all done business over the internet. We all want to feel like we've got some protection in all of this. So for people who have some concerns I have spent, I have created a special alternative process and that's what I say a special alternative process. So and then I explain to them how to use a mobile notary or how I use a mobile notary so that they can kind of get the exchange, the signature and the money at the same time. And then I say a mobile notaries are typically they typically charge about seventy five dollars. I can almost always negotiate them down to 50. I'll do the best I can, and I'll just take that off the purchase price. And I say it so nonchalantly and never, ever once have I had somebody say no. So basically how I've set that up passes that cost onto the seller rather than onto myself. So for every deal, it saves me an extra fifty seventy five bucks. But it's all about how you set things up, and that's part of negotiating process.

Speaker2: [00:20:07] Hey, folks, people often talk about automating and outsourcing your land flipping business, but what does that really mean? Generic solutions leave it to you to figure out how to set up and maintain the automations. I've been running my land business on land speed for over three years because it's a total solution and allows me to focus on being a great land investor. Land speed was built specifically for land investing by land investor and with many of the most successful people in the business using it for years. It's evolved into one of the most feature rich solutions on the market. Some of the key benefits I get are being able to create and manage mail campaigns and neighbor letters. I'm able to automate tasks amongst my team, create contracts and deeds and email text or mail them within a few clicks. I can automatically capture sales leads from any lead source, including Facebook Messenger. Then it automatically pushes those leads into my sales funnel so that I can manually follow up, but they also go into my automated drip campaign. And since Lance Speed's a total cloud based solution, I can run my business from anywhere in the world with a phone, laptop or tablet. So if you want to. Turn your hobby into a professional, scalable business. Just go to land speed, techno forward slash Dave to receive one hundred and fifty dollars discount today.

Speaker2: [00:21:35] Very good, very good. Love it. All right. So now we've got the next skill is process and I would say process systems and you know, that is. Well, these are all the top five, but without process, we're not necessarily doing everything in a systemized way every time. And so it's so important that we create systems and document those systems, whether it's by video or written or both, because we want our business to be efficient, reliable, we want repeatability and so that we're able to scale because if we don't have good systems, which is our foundation and our business starts really going crazy. We're going to go up and we're going to struggle. We're going to have up peaks and valleys, we're going to make mistakes and it's much more difficult to train people now. I mean, if you have a well-documented systems in place with video and with things in writing, now you have a training manual. If you lose a VA, you have a training manual that that VA can study. And you know, it doesn't eliminate the one the personal training of that new employee, but it certainly reduces a lot. You give them a foundation to go ahead and review before you conduct the the live training.

Speaker2: [00:23:12] So now it becomes really more of a Q&A session when you're doing it, doing your training, and then they also have something to refer back to. And also, you have something to refer back to if if you're like me who have, you know, been able to get to a point where I've got a lot of stuff outsourced in my business. Well, and I lose somebody and I have to temporarily step back into that role, and I haven't been in that role in a long time. I got to scratch my head and figure it out. Where do we keep this and where do we keep that? And when I have processes, well, systematized, then it certainly reduces my pain of going back in there and stepping into that role, even though it's temporary. Now I'll also be the first one to admit that I'm teaching about something that I'm pretty good at, but certainly I'm not perfect at systematized. And and sometimes I'll go in there and go, How do I do this? And Oh crap, I don't have that documented. Well, let's let's put that on the list to document now. I got to go spend a couple of hours instead of 15 minutes to to figure that out.

Speaker3: [00:24:34] Yeah, so you talked about a manual, but that's the name of that manual is typically an SOP, which is standard operating procedures, which is process and and you can outline the entire process and you do the best you can on it. It doesn't have to be perfect, it can be 80 percent. But when you dovetail that with a the the Japanese concept of Kaizen, which means constant, never ending improvement, then you constantly review those processes and say, How can I take this one process and improve it? Make it more efficient? How can I take 10 steps and reduce it to seven steps? Everything can always be improved, but it starts with having something in place first, and it really it's it is literally impossible to really grow a team that can work effectively without process. How many times have you called a call center of a large company? You know, I'll use my nemesis, AT&T, and you say, I have this problem. They say, Oh, we're the wrong call center. Let me pass you to this other call center, and they passed me to another call center. And after five call centers, they say, Oh no, we're not the right one, and they pass you back to the one you called in the first place and the left hand doesn't talk to the right hand. And nobody has the authority or the access to the data to solve your problem. And it's maddening. So that's where process comes in, so we can make sure that whatever the issue is that we're trying to solve, there's a procedure for it. And you know, and I'm not I'm very much not a person that's in favor of of putting process into a straitjacket. I think people need to be empowered to use judgment in order to resolve issues that maybe you haven't thought of yet. That but to have a foundation to process is absolutely essential to scaling a business.

Speaker2: [00:26:29] Very good. All right. So let's now finish up with sales. So we've talked about already, you know, relationship building and negotiating, which is all part of sales, whether you're talking to a seller or talking to a buyer, it's sales. It's the art of persuasion and negotiating and handling objections, which we we haven't discussed yet and follow up. So follow up also relates to process. You know, you've got to have a good follow up process because, you know, many times you have sales leads that come in and you might have someone that is genuinely interested in buying land and buying land in the area that you have. Maybe the piece of inventory you have in that area isn't quite what they're looking for. But you know, you've got to have a follow up process, whether it's an email or phone or a drip campaign. You know, I have sold many properties over the years off of my my drip emails or my my deal of the week emails because I had something that interested them. But it wasn't quite the right property. And two years later, they're still on my email list and was like, Oh yeah, that's what I want, and they called me up and buy the property. So that's just one example of of having a follow up system. You've got to have a manual follow up system as well. I mean, it's very, very helpful to have a CRM and, you know, certainly handling objections when and knowing what to say with objections. And we'll get to we'll get into that in detail in a future session. I believe we also did a sales podcast on that, but we'll cover it even more.

Speaker2: [00:28:37] And when you get into closing, if you don't have. A lot of sales experience, I have seen people especially more the more introverted people who are more comfortable on the data side, they can follow up, they're great at following up, they're great at answering questions. But then when the customer is clearly ready to buy or giving buying signals, they'll be like, Well, you know, let me know. Call me when if I take another look at the property and if you like it, you know, let me know. Well, in the meantime, they see somebody else's property on land watch and get in touch with them and somebody. Actually, who's really skilled calls them and closes the deal because they're not afraid to ask for the clothes. You've got to be willing to ask, ask for the deal. An example of a closing line that I like is so we've we've talked about the all of the things that you want to do with the property, sir. You said you wanted to use it for this and that and this and that. I think we've checked all the boxes. So at this point, what would stop you from going ahead and making the purchase? So that's that's a real nice light clothes. And there are several others that that we can go into that are that are quite effective. And it's not a matter of tricking people, it's just a matter of carrying them across the finish line because they're there, they're ready, they're giving you all the buying signals. But if you don't ask, the answer's always no.

Speaker3: [00:30:18] That's right. And even when they say no, it doesn't necessarily mean no, sometimes it just means not yet. I need to be. I need to know a little bit more. I need to get a little more comfortable because most people, most people do not buy for logical reasons or for the or the speeds and feeds or the size of the property or the slope of the property. They buy for emotional reasons, and they justify it with all the data. So, so it's really important that in that sales process, you're really tapping into understanding what is the emotional why are they on the phone with you? What's the emotional goal that they're trying to achieve? And if you can connect what you're offering with that emotional goal? Closing is more about order taking, you know, but you have to be able to ask for the order or sometimes they may not. And then it just all falls apart and it doesn't. It doesn't get finished.

Speaker2: [00:31:10] Yeah. And getting people back on the phone is challenging these days. Always, you know, it's it's my my biggest tip for both. Selling and for acquisitions. Don't let them off the phone, you know, within reason, obviously, but you know, if if that if striking, that deal is within reach. You try your damnedest not to let them go in. Think about it. You, you want to get to a decision if you feel that it's within reason.

Speaker3: [00:31:51] But that coffee down coffee is for closers.

Speaker2: [00:31:56] That's right. All right. That does it for today's episode. Thank you much for. For listening. Please rate review and subscribe and all that stuff. And we will talk to you next week, right?

Speaker4: [00:32:11] Take care, guys. We hope you enjoyed this episode. Had a bit of fun and walked away with some actionable insights that you can apply to your business. Dave and I have got some great content in interviews planned, so don't forget to rate and review. And of course, subscribe to this podcast on iTunes, Google Play, Stitcher or wherever you get your podcasts. If we mention any interesting links or tools, you'll find them in, the show notes. To learn more about land at MBA, visit our website at Wait for it land.Mba. See you next time on the Land.MBA podcast.

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Every investor in land thinks about bringing on a realtor to help with certain tasks and with the hopes of increasing sales, but often times commissions for realtors are higher when dealing with land, commonly up to 10%. This investment in your company can have a great impact on your sales, but it can also end up being a total waste of time.

In this video, Dave and Howard discuss the different kinds of relationships that investors build with Realtors. They go over the pros and cons of using a realtor to sell land, and answer the question "How can a realtor help market your property?"

For coaching and courses go here - https://www.land.mba

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It was only one year ago when we started on this incredible journey to help land investors grow their business through teaching what we've learned throughout our years of investing. We've learned so much from our incredible guests that we've had featured on our many episodes.

In this episode, we look back on some of the most poignant, thought provoking, and educational clips that we've featured on our podcast. We hope you learn something about investing in raw land in 2021

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Every year, new tactics, platforms, and rules change the landscape of marketing. New technology is always being created, platforms are constantly changing what they want you to post, and smart people are always on the lookout for new ways to utilize tools and techniques to grow their business faster. When popular websites for advertising land, such as Facebook or Craigslist, change their rules regarding listings, it could mean an incredible growth of opportunity, or the destruction of a profitable stream of business.

In this episode of the Land.MBA podcast, David and Howard expose marketing secrets that help them maneuver through the minefield of marketing in 2021. They discuss what used to work, why it stopped working, and methods of staying up to date with marketing trends, so you can be prepared when change occurs; it will happen when you least expect it.

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The dream of every land investor is to make more money while working fewer hours. Imagine closing 80 deals in 8 months while working less than 10 hours per week. It's easy to say "automate and outsource" but like everything else, there is a big difference between the what - automate and outsource - and the how. Success flows from the how.

In this episode, experienced land investor Mitch Milam talks about how he closed 80 deals so far this year by outsourcing much of the heavy lifting to realtors. He explains his tips and tricks for hiring people who have increased his selling prices, reduced his time to sales and managed much of the paperwork. He also talks about his strategy for finding hot markets and much more.

The single most important quality that Mitch has adapted in his land business is a bias towards action. He was influenced in this area by the book Execution by Bill Bossidy and Ram Charan. Get your copy here.

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We are now accepting applications for our October Land.MBA session - https://www.land.mba/thelandmba

“No one learns anything by driving blind except what it feels like to crash” ― Paul De Leo

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Execution: The Discipline of Getting Things Done

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If you aren't good on the phone, you will struggle with investing in land. Being confidant on the phone, knowing what you want to accomplish with your conversations, and executing the right tactics at the right time could mean the difference between getting a great deal on a property or never getting a call back.

In this episode, David and Howard discuss the best strategies for handling your phone conversations, as well as walk you thought a few objection responses that are common when looking to buy land for your business.

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For over 15 years, Anthoy Chara has been dedicated to investing in apartment complexes, with hundreds of units in his portfolio. He's taught thousands of investors, like David, how to invest in apartments, and we are so excited to bring you this insightful interview with the man himself; where we talk about the state of the business in in 2020 and 2021, and so much more. We also talk the impacts of lockdowns and eviction moratoriums on investors and his students, and make predictions on what the future holds for investors.

As an investor, you should always be looking at new opportunities, and when Anthony has spare time from managing his apartments, he's looking for more ways to invest. We got to talk with Anthony about his foray into agriculture investing, specifically greenhouses and orange groves, and how it is creating hundreds of jobs for local workers.

Anthony offers one of the most detailed training programs on the market, and you can find them at https://successclasses.com/

To learn more about his individual investments, contact Anthony at Anthony@successclasses.com

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There are steps to take for any business, and if you want to grow quickly and efficiently, it’s important to have a course of action to follow when things don’t, or do, go as planned. In this episode of the Land.MBA podcast, David and Howard discuss the ins and outs of structuring the plan for your land business.

By following these steps, and structuring your business in a way that you can easily manage important tasks quickly is the key to increasing your business opportunities and growing your client base. We discuss how to plan, how to streamline, and optimize your systems and company practices to accomplish your investment goals in the land business.

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If you're interested in what Reid is doing, get in contact with him here: www.parcelfunders.com 719-508-7201 info@parcelfunders.com

What do you do when you have a juicy real estate deal on the table but don't have the cash on hand to sign? When it comes to getting funding for your land investment business, it can be challenging to know what to say, who to talk to, and what land funders are looking for in investors.

In this episode, Reid Kurtenbach tells us how he got into funding land, his perspectives on the land business, and things that he looks for in land investors so he knows he can trust them to close the deal. You'll learn the dos and don'ts of talking with funders, some key things to always have on hand, and a lot more!

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For coaching and courses go here - https://www.land.mba

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Everyone stumbles when they're doing something new, but it's how we recover and learn from each hiccup that makes us stronger. When our guest today, Todd Hays, sees a roadblock in the way of his land business, instead of having it stop him in his tracks, he fights through it. On today's episode of the Land.MBA podcast, Todd goes into detail about a few 7 figure deals that he's closed, and that slipped through his fingers. The biggest take away? He never stopped learning along the way. Learn along with us as we talk commercial land investing, and some of the challenges that investors face when delving into the commercial land market. If you want to connect with Todd Hays, check out his website at http://land-buyer-usa.com/

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On todays episode of the Land.MBA podcast, Todd goes into detail about a few 7 figure deals that he's closed, and that slipped through his fingers. The biggest take away? He never stopped learning along the way. Learn along with us as we talk commercial land investing, and some of the challenges that investors face when delving into the commercial land market.

If you want to connect with Todd Hays, check out his website at http://land-buyer-usa.com/

Let’s Connect!

For coaching and courses go here - https://www.land.mba

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I didn't know this before we talked with our guest this week, but the postal service leases most of it's local post offices from land owners and investors like you and me. After working in commercial real estate as a career, and being stuck at home recovering from a sports injury, he learned about investing in land, and eventually combined his now growing land business with his commercial real estate experience to go after government leases for post offices, and help other investors secure similar deals across the country.

Get in contact with Jeff if you're interested in securing a building of any type, including post offices.

Jeff@area-cre.com

This interview with Jeff is eye-opening, and you will learn a lot about how he negotiates commercial leases with the one group that always pays rent on time: The US Government. You'll also hear about how he got started in land investing, and a ton of great insight into this growing, but less known section of the market.

Let’s Connect

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Training a team and trusting them with your business can be scary. Finding the right people, training them correctly, and letting them take control of the business that YOU were running is a big job, but it's one of the most important steps in growing your business, increasing your monthly revenue, and finding the best solutions to problems that haven't even happened yet.

Brian Rapier loves his day job, and worked hard to build his land business. Now that he has a team of people from the USA to help grow his land investing business, he has more time to spend with his growing family, while his monthly income grows along with it.

In this interview, we talk about all things teamwork, what it takes to make it in the land business, and we learn more about how Brian manages a full time job, his own personal business, and still has time for is amazing family.

Let’s Connect For coaching and courses go here

https://www.land.mba Instagram
https://www.instagram.com/land.mba/ Facebook
https://www.facebook.com/mylandmba

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Let’s Connect

For coaching and courses go here - https://www.land.mba Instagram

https://www.instagram.com/land.mba/ Facebook
https://www.facebook.com/mylandmba

Many people dream of quitting their day job because their side business is doing too well. Now you'll learn how two incredible land investors accomplished just that by combining their forces and expanding into new markets.

With experience with Marketing and Accounting, Xing Gao and Andrew Finger are both experienced land investors with their own successful businesses, but recently they've joined together with their friend and land investor, Lucas King, to create unique land opportunities for buyers at a premium price.

Feel free to get into touch with us at Elegment Dream Acres!

Elegment: https://land.elegment.com (Xing)

Dream: https://dreamlanddeal.com (Drew)

Acres: https://acrestock.com (Lucas)

Email: hello@elegment.com

Elegment Dream Acres focuses their business on purchasing huge tracts of land, and subdividing it into large, private properties around 20 acres, perfect for builders and buyers alike. Learn about how both of these investors turned their side business into quitting their jobs and working for themselves full time in this tell all interview featuring juicy behind the scenes details and tips for new investors.

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You know the saying two heads are better than one? Well in this exclusive interview, we're talking with Felicia and Andrew, from Compass Land USA. They have joined forces to combine their knowledge of accounting and engineering to create a force to be reckoned with in the land investing community. You don't want to miss some of the secrets and techniques these two have used to grow their business over the last 3 years.

Check out what they've been doing here:

https://www.compasslandusa.com/

https://www.facebook.com/compasslandusa

Coming from the corporate world, Andrew and Felicia used their knowledge in managing teams, identifying and achieving goals, and developing standard operational procedures to streamline each aspect of their growing business. This allowed them to hire and manage talented VAs that get the work done the right way every time a new property comes in. This has greatly reduced their workload and means they have more time to secure new deals and grow their business even more.

You will love hearing the stories and journey that these two dedicated investors had been on. From securing investment capital for big opportunities outside of their home country, to working together on each listing to identify trends and slow performers. Felicia and Andrew hold nothing back and give a candid inside look at what land investors do from day to day, and how they have solved problems that grew their business.

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Looking into investing in land but afraid of the costs associated with running a land business? It can be daunting when you're just getting started, especially if you're comparing yourself to investors with large teams and expansive portfolios.

But running your own business doesn't have to be a burden on the wallet, and with the right strategies, it's easy to manage your monthly costs, and grow your business. Those big guys started small just like you and me, and knowing where to save money, and where to spend it, can be the difference between getting that new boat or treading water.

In this episode, David and Howard discus the monthly costs associated with running a land business, both for new investors and those who are ready to grow. By starting small and doing as much as you can starting out, it not only teaches you about the process, but also saves you hundreds of dollars a month that you can use to invest in more properties.

Don't miss this incredible behind the scenes breakdown of how successful land investors spend their money each month, what they think is a good deal, what they think is a ripoff, and how you can grow your business while keeping more of your money.

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Have you ever been overwhelmed with paperwork you weren't expecting, or a legal roadblock that stopped a deal dead in it's tracks? Once an investor's portfolio begins to grow, managing the piles of paperwork to facilitate smooth sales and closings can eat up a lot of time, and cause major headaches if you aren't prepared. Our guest today, Federico Pomi, saw first hand the hassles that first time home buyers and land investors alike have to overcome when buying and selling property; and he's made it his mission to develop a system that makes the process easy to integrate for investors, as well as trustworthy and secure for your buyers.

So he created Fabrica.

Fabrica is a platform designed to help streamline the sales process for investors by offering your buyers easy and secure ways to buy, finance, sign, and pay. They offer instant property transfers, and secure payments directly to your bank.

We are very excited to be talking with Federico today, and even more excited about the kind of solutions he is bringing to help solve the problems us land investors deal with on a daily basis.

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7:40 How does Fabrica handle transfer of ownership?

Fede goes into detail about how Fabrica manages your properties legally, and what that means for your buyers. Fabrica properties are put into trusts, allowing easy transfer of the properties between parties.

12:40 What have you learned from land investors on your platform?

Land investors all start with one property. As you grow, and start to expand into other counties and states, you'll quickly need to manage different teams for each area, which can limit your ability to scale your business. You'll end up spending most of your time on paperwork, when you should be looking for new investment opportunities.

16:00 Discussion on Blockchain and its future in digital land transactions

25:29 Everyone has a bus with their name on it, do you have a succession plan?

Worried about who your successor is if the unthinkable happens? David sure does, but Fede already thought of this, and explains that Fabrica has you set successors within the trust in, just in case you have a bus with your name on it.

31:43 How will investors be able to integrate Fabrica into their sales process?

Fabrica is not a marketplace, it is a tool to help buyers quickly purchase land from investors. All you need to do is share the link with a buyer, allowing them to pay cash, get financing, and get the closing process started.

----more----

Interested in Fabrica? Check it out at Fabrica.land

Connect with Federico on LinkedIn: linkedin.com/in/fedepo

Interested in growing your land business: land.mba

The ultimate land CRM: LandSpeed

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Investing in land has a high potential for earning. It's not easy, but you can set yourself up for success by focusing on developing some key traits.

In this episode, we talk about the winning ways of the most successful individuals in land investing.

First is having the right mindset. Taking a positive view of every situation can make all the difference. Believing that you can be successful is the first step to success. When you experience something negative, see it as a learning experience.

Second, don't give in to fear. Fear is a killer. The best entrepreneurs overcome fear and risk.

Third, winners are not afraid to take significant steps. Entrepreneurial thinking is about thinking big.

We also talk about how effective consistency and persistence are. It's just like exercise—if you want to see results, you need to show up consistently. In land investing, it means establishing a consistent pattern in your dealings with potential clients.

Successful land investors are consistent and persistent, willing to push through life's setbacks and challenges.

Take time to internalize these traits and values. Once they are second nature, they will transform you into a winner.

Timestamps

11:21 – You must strive to develop the right mindset in order to succeed.

This is the type of mindset which sees every failure as a learning opportunity. The same mindset also has the goal of learning from every experience that does not yield the expected results. If you adopt this mindset and continue moving forward, you will succeed as you put your one foot in front of the other.

16:35 – Do not get easily discouraged and consumed by fear

Do not get discouraged and be consumed by fear immediately after this down surge. Fear is a killer. If you will see the money as an investment and not a cost, it will earn you dividends after some time.

19:39 - Avoid shiny object syndrome

As defined in the podcast, shiny object syndrome is commonly done by people who want immediate gratification. Thus, many people are willing to do many different formulas that will get them much easier to the top.

For you to be successful, you must follow the program and your mentor. Trying on different things and different approaches in a short time can easily overwhelm you. The sad thing here is that you can drown and never make it to the top.

26:52 - You cannot cost-cut your way to growth

Contrary to large corporations' typical method, you cannot just cost-cut your way to success. Quarterly profits and results are usually governing publicly traded companies. If the revenues are down, they will cut costs so numbers can work and still bring them their compensation.

But in reality, you cannot only cut your costs and be successful after that. Growth comes after investment and not from simple cost-cutting. This is also a reminder that you are not a large company but an entrepreneur. You must have the education and work further so you'll truly be successful.

34:07 - How you project yourself will determine how successful you will be

In business and personal development, how you see yourself will eventually determine how successful you will become.

If you believe deep in your heart that you will be successful, the universe will conspire to help you achieve that goal. But if you believe otherwise, then you will get that result. Getting the right mindset is one of the most fundamental concepts of being successful.

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Recent years have offered a host of new models for professional and personal life that would have been unimaginable in the past. Tony and Laura Spandrio of Freedom Fulfilled have fully leveraged the privilege to live life on their own terms, escaping the workaday world with a vision all their own. Now spending life together on the open road, they spend their days pursuing their dreams through a shared career in real estate investment. Today, the Land.MBA podcast catches up with the easy riders in Arizona for background on a better life.

1:11 The Next Chapter

Sitting on their personal piece of the Great Outdoors with their golden retriever puppy in tow, the duo present a picture of modern success. Nearing retirement age with their children moving out of the house, Tony and Laura began to wonder what came next. Recalling fond memories of weekend family trips, they thought of all the places they had never had the chance to visit. Seeking the convenience of a hotel with the mobility of a fireside tent, the couple elected to purchase an RV and never looked back.

5:03 Wheels Up

After taking a seminar called “Rich Dad Education,” Tony found himself inspired to take the direction of his life into his own hands. Transitioning to real estate, he was able to leave his day job in commercial printing within a year. Realizing that a similar move could afford the couple location independence, Laura restructured her accounting practice to become 100 percent mobile. After remodeling their permanent residence into a rental property to generate passive income, the entrepreneurs turned the key on their brand new life.

15:10 Rules of the Road

Pure excitement carried the couple through early challenges in RV life, but experience has delivered some valuable lessons along the way. Road life brought unexpected surprises and everyday inconveniences. They also found that adjusting to a more leisurely pace of life after spending years in a state of urgency was a challenge. Working from the road created a constant demand for Internet connectivity as well. Investing in memberships at RV parks afforded them many of the amenities of home such as electricity and sewer service.

24:46 From Sea to Shining Sea

Asked to share some favorite destinations on their Great American Road Trip, the couple comes alive with enthusiasm. Tony reflects on his longtime dream of seeing the Grand Canyon, a sight he lamented never being able to see after 68 years. He also shares his memories of the majestic mountain range in the Grand Teton National Park. Laura found her happiness on the shores of Lake Havasu, hiking along scenic trails in the area. Still, in their words, the beauty of RV life is in the freedom...perhaps their new favorite is their next stop.

Connect with Fulfilled Freedom: Website- https://fulfilledfreedom.life/

Email- FulfilledFreedom2020@gmail.com

Facebook-https://www.facebook.com/fulfilledfreedom.life

Instagram- https://www.instagram.com/fulfilledfreedom/

YouTube- https://fulfilledfreedom.life/youtube-videos/

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We’re really excited about today's podcast. We have an incredible guest. His name is Joe Mendoza or as some people call him, coach Joe. Joe has been in real estate for over 30 years. He was one of the highest producing realtors in Southern California. Then he moved to fix and flips, wholesaling and multifamily. Today Joe is a coach to many of the number one realtors across the country. And get this he is now turning his attention to land. There are so many nuggets in this podcast. So strap in for our interview with Joe Mendoza!

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Are you a realtor or a house flipper or wholesaler? Do you already have a strong foundation in real estate? You may think, “Hey, I already know so much! I don't need more education or guidance or motivation”. If you think that, meet Derik Keith. Derik is a Land.MBA student who in a very short time has amassed a six figure land business and just acquired a single property that he expects to net over $55,000 on. He recently told Dave, “I'd kiss you if you weren't so ugly!”

Today on The Land.MBA Podcast, Dave and I will go deep with Derik on his journey from auto mechanic to real estate investor to broker to brokerage owner to land investor. Now he says a bricks and sticks investment has to be pretty spectacular to shift his attention away from land. Find out how Derek leveraged hardcore education like Land.MBA to quickly build a six figure land business at scale.

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Here on The Land.MBA Podcast, we love to talk about land investing. But we know that many investors eventually grow and want to either expand into other types of real estate or become passive investors in other asset classes. One of those asset classes is multifamily.

Today , Dave and I are speaking with Adam Adams. Adams first real estate deal wasn't land, inspired by Robert Kiyosaki he moved into multifamily apartments and hasn't looked back. Today he has over 1400 units under management in seven states. This is a no holds barred conversation, where Adam shares his views on real estate, the economy, the impact of the pandemic on his business, and why he believes that taking the cheap and easy path to just about anything can be so expensive.

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Are you an engineer, finance person or other highly educated professional by trade? Do you love to learn dissect processes and then create new clever and unique ways to solve problems and grow businesses? What if I told you that that is the fastest path to the bottom?

Our guest today on The Land.MBA Podcast is Joe McCall. Joe is a leading real estate investor with one of the top podcasts and coaching programs in the real estate investing niche. Joe is a recovering engineer who realized that and I quote: “cubicles made me want to vomit”.

He decided to leave the security of his job and go out on his own. But after struggling with shiny object syndrome, and trying to develop his own approaches to real estate investing, Joe finally decided to buy a course and follow it to the letter. That was the beginning of his truly remarkable career. Oh, by the way, he's quite an innovator now, but that is because he has the expertise to find the subtle opportunities that aren't obvious to everyone else. Listen on, as Joe shares his story of going from near bankruptcy to the top of the mountain

Joe’s investing journey started when his friend recommended the book Rich Dad, Poor Dad. He started reading everything he could about investing. He grew his portfolio but when the crash occurred in 2009 he had about 15 home. He nearly lost everything and was incredibly close to bankruptcy.

“I don't know how I survived,” he says. “It was God's grace”.

It was at that point that he realized he had to learn the art of wholesaling. Wholesaling is just buying a property under contract at a real cheap discount and then selling that contract or your rights to buy that property to somebody else. He didn't think wholesaling was cool and believed it was just for rookies. He wanted to do the big deals. Then he realized his back was against the wall. He needed cash, fast.

Joe became something of a professional student. He would buy course after course on real estate investing. He eventually did his first wholesaling deal and made something like $12k. The deals kept coming and that was enough to convince him to leave his engineering job and to begin his full-time real estate career.

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There are two ways to sell properties in the land business. You can sell for cash or you can sell on terms. Cash is pretty straightforward. You buy low, sell high and pocket the difference. Terms deals, also known as owner financing, are a great way to build an income stream that can provide financial security and long term wealth. But are terms deals always good? In this episode of The Land.MBA Podcast, Dave and I are going to go deep on the good, the bad and the ugly of seller financing.

I set a goal when I started in the land business. I wanted to have enough cash flow to cover my costs, including my VA and software subscriptions. My next step was I wanted to not have to pull out of pocket to do mailing campaigns, I wanted my cash flow to be able to pay for that. So I got it to a point where I was still working a job. And I got my cash flow to a point where it was paying the overhead but not yet paying me. So I still had to keep my job. But I kept selling. Sometimes it was a cash deal, sometimes it was a terms deal. I think it’s a great idea to have both because it gives me security and stability.

Now, I've been able to quit my job and I have enough cash flow that if I don't sell one property for cash this month. I'm not living high on the hog but I'm paying my bills. And so that gives me the freedom to go out and work on other deals.

So many people just coming into the business want to know what is the right mix of cash and terms deals. It's not a straightforward answer, because it depends where they're coming from. If they're at a point where they don't have very much money, then they need to build some capital. For me, I like the 50/50 target but you can't control the market. Maybe it ends up at 70/30, or 60/40. This business requires very little money to get started so I would focus on cash deals at the start.

When you're marketing a property and you're selling it on terms, figuring out your pricing is very different than doing it for cash. Cash is pretty straightforward. But in terms deals I would go do a complete market analysis. I use Price Boss to do that. It gives me a very, very solid understanding the median market value for that property based upon comps. And median means that of all the comps that I have, it's not the average, it means that half of the comps are below at half the comp comps or above it. I typically try to price my properties at 90% of median. That way it looks like one of the best deals on the market, because my goal is to sell quickly and reinvest, as opposed to get top dollar for every property.

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Everyone is desperately searching for someway to boost their income these days. The Covid Crisis has people wondering just how much longer they will be able to count on their paycheque. That’s why we invited Jay Jacobson and Cory Thomas onto the show today. Each of them are big believers in the power of real estate based passive income. Cory runs Income Property Advisers with his brother. For over 17 years, they have been helping real estate investors exchange into management-free income properties. Jay, meanwhile, manages a large portfolio of real estate holdings and is a big believer in the power of owning rental units.

Jay specializes in management-free, income producing properties that qualify for 1031 exchange investments. Their focus is helping investors find the properties that are going to perform the best, both from a cash-flow standpoint as well as an appreciation standpoint. At any given time, they have 30 to 35 properties available. They don’t recommend properties unless there's going to be growth in that market. That means job growth, wage growth, population growth, and rent growth.

Jay first entered the real estate investing market in the 1970’s when he purchased a duplex. He got his broker's license. As his portfolio grew so did his interest in 1031 exchanges. They proved to be a powerful tax-avoidance strategy.

Land investing could be a very attractive opportunity for those that are already flipping houses or operating in the whole-sale market. It also offers yet another income stream for those that own multi-family units.

Connect:

https://www.linkedin.com/in/jay-jacobson-52858411/

https://ipa1031group.com/

_________________________________

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America is a unique place to invest in land. We have over 2.4 billion acres and of that only 6% is developed. So not only do we have almost 1.8 billion acres to invest in, we have a legal environment that makes it possible for us to invest anywhere from anywhere. This is not the case in Europe. Not only is there a lot less vacant land available, values are generally known which makes profiting from flips difficult. That is why the American market is extremely attractive to European investors.

In this episode of The Land.MBA Podcast, Dave and I are speaking with Markus Habermehl. Markus has the number one business podcast in all of Germany and got excited about investing in American land about two years ago. He will share why land investing is such a tremendous opportunity for European investors. What are the unique challenges of investing for Europeans and most importantly, how to overcome them.

One of the big reasons why investing in land in Europe is so difficult is because of their strict data protection laws. In the United States it’s incredibly easy to find out everything you want to find out about a property, including who bought it and the tax history. There is a lot of regulation around land and pricing is completely different.

It can be difficult for a European trying to understand the land investing system in the US. Markus says you can’t be afraid to learn new things or to make mistakes. The good thing is that the US market is big enough for everyone to participate. But that said, you do need a good mentor.

“You need somebody who really loves to teach otherwise it doesn't work.” he says.

That’s because there is a whole host of issues Europeans face. There is, of course, the language barrier. But even simple things like getting a US phone number or being able to create a US company is challenging. That’s why it’s so important to have someone in the US who is willing to help you.

Contact Markus:

host@panzerknacker-podcast.com

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They say that if you don't know your numbers, you don't know your business. So what are the metrics that we should be tracking in the land business? Sure, we can track revenue and profit, but what else? Numbers of properties bought and sold per month? A mix of cash versus terms or performance numbers by county? What about marketing? Do you track which campaigns are successful and which ones aren't so you can optimize the things that work and the things that don't?

In today's episode of The Land.MBA Podcast we’re joined by Dave Denniston of Generation Family Properties. Dave is a financial expert and generously shares his wisdom on how to track the numbers in your business, so you too can generate upwards of $35,000 a month in revenue.

Dave is a strong believer in income diversification. That’s why after working in the finance business for years he started in land investing. Having a day job allows him to do a wide variety of deals - not just the absolute highest ROI deals. That’s because he doesn’t beed the income being generated by his land sales.

Term deals are Dave’s preferred method. He likes to have his eggs spread out among many baskets. Currently he holds the paper on 207 notes. 207 of them. About 10% of those customers are late. That mean he’s generating about $37,000 a month of revenue. Sounds like a lot, right? But it’s not as much as you might think. That’s because he pays a lot in the operation of the business. Marketing costs about $4000 a month. He pays his sales people around $1000 per month. And then on top of that there are all the new land purchases he’s making each month. That leaves him with about $10k per month - which is still a great income. But he likes to emphasize the bottom line so people understand why they are getting into.

You have to have a great system in place. That is one of Dave’s core beliefs in managing his business. He hires domestic managers for thinks like marketing and sales. Each of those managers then hire foriegn VA’s to handle much of the grunt work. Managing that team is a big job. He makes sure he speaks with each of them for an hour each week. Those meetings are all about identifying the things that are working and - more importantly - the things that are not.

“What do you hate right now?” he asks, “If I hate something I get it off of my plate.”

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When I tell people that I make hundreds to thousands percent ROI on my land deals, their jaws hit the ground. In any other business 100% ROI seems like a moonshot. How are we able to get those kinds of returns over and over again? One word: arbitrage. As land investors, we know how to leverage asymmetries that give us an advantage when negotiating with sellers and buyers. While we often do this intuitively, there's actually science behind it. And today's episode of The Land.MBA Podcast, we're going to go deep on four different inefficiencies that you can take advantage of, to pay less and charge more for your properties.

I am the kind of guy who has a reputation for negotiating at Walmart. I do like a deal. But when it comes to investing you need much more detail to be successful. There are many analytical models to arrive at your pricing. The first thing I typically look at is activity. There has to be some good activity around raw land. Because if there's not, nothing we're not going to do anything to change that. You need buyers! No matter how cheap you buy it, it doesn't matter if there's no demand.

When you do find an area with buyers you need to find out who those buyers are. If all of those buyers are locals, that's not a good scenario for us as land investors because they're going to understand the value of the land better than we will. And our business is predicated upon having an information advantage over both buyers and sellers with regards to price.

An arbitrage is where we can get something cheaper than the true value of it. And that usually happens for a short duration because the market eventually figures it out and closes the gap. But as long as that arbitrage is maintained, we can make a spread. So what drives an arbitrage? I’ve boiled it down to four inefficiencies.

Behavioral inefficiencies

The first one may be the most prevalent out there. But behavioral inefficiencies are not necessarily the easiest to convert into advantage, but they're always there. Because even though the world changes and circumstances change, human nature doesn't change very much. People always have biases that result in bad decision making.

Analytical inefficiencies

This inefficiency arises when all the participants have access to the same information, but one person has a much better ability to analyze that data

Informational inefficiencies| Wouldn't it be better if we just had better information? There are many counties where you're not getting that great data from the assessor. So, you have to find other ways to get the data. So maybe we're getting it from Data Tree or from Lands of America or Zillow. It helps to have a good tool so you can get all this information and easily process it.

Situational inefficiencies

If somebody is distressed that is a situational inefficiency. For them price is less important to them than speed. Anytime somebody needs to sell because they're under the gun to do it for reasons that have nothing to do with the underlying value of the property. They might be distressed because they've got a huge tax bill. And if they don't pay it, they're gonna go to jail. Or they have hit hard times and they just need the money. Any situation like that is a situational inefficiency.

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Nearly everyone who gets into the land business, because they want to create a better life for their families. And while earning a good income or achieving financial independence really contributes to that goal. You haven't really created a better life for your family if you're working all the time. Take it from me, a serial workaholic, it would be better if you could design your work life in such a way that you can make your family your top priority.

On today's episode of The Land.MBA Podcast, Dave and I are interviewing Joseph Aboussie. Joe and his dad come from the commercial real estate world and made the strategic decision to pivot into land. He tells us how he developed systems and processes that enabled him to not only scale his business, but also keep his family as his top priority. Oh, and if you hang with us to the end You'll hear the ultimate tool on how to maintain the perfect chrome dome hairstyle!

From football coach to entrepreneur

Joe traded ASU and football for the ministry shortly after college. Then he started coaching high school football. He loved it. But after two years he was ready to move on. Spending 90 hour weeks was just not in the cards anymore. Sitting in a room just doing X's and O's for hours on end started to lose its charm after a while. He started flipping houses in the Austin-area. That turned into a stin working for a commercial real estate company. He worked in acquisitions for big chain properties like CVS and Arby’s. Building that portfolio gave him the confidence to create his own company.

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Do you long for economic freedom? Do you want to have control over your time? We all want that in life. But most of us work for the man all of our lives. And if we're lucky, we put enough money away to retire by 65. But some of us don't even make it to 65. And for those of us who do, we either don't have the health, the energy or the finances to really enjoy life.

When I talk to young people, I tell them unless your heart is set on a specific career like medicine or law, they should consider entrepreneurship. Young people really have nothing to lose financially. And they have the energy and to work the long, hard hours. And if it doesn't work out, they can always get a job.

Today, I'm talking with an amazing entrepreneur who did just that. He went for it. He knew the life he wanted to create and he did it. He is Mike VanSteenkiste. Mike's my nephew. And Mike is a man whom I deeply admire because he's living the American entrepreneurial dream. Mike's roots are in land investing. But he's also been extremely successful in home security, internet marketing, land development and Airbnb, just to name a few.

He lives in paradise on the Snake River in eastern Idaho with his awesome five children, his amazing wife. And even though Mike could retire at the age of 40, he continues to work on projects he’s passionate about. He calls his own shots and he creates plenty of flexibility to spend time with family and friends and to volunteer and travel. He's a defensive football coach at Rugby High School, where his son will be a senior and they're gunning to repeat as Idaho State champions.

Mike’s reading list:

Rich Dad, Poor Dad by Robert Kiyosaki

Anything by Robert G. Allen

Richest Man in Babylon by George S. Klason

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Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Richest Man in Babylon - Original Edition

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Are you a house wholesaler or flipper? If so, the last 10 years have been fantastic for you. But now, as COVID-19 and the global economic showdown has probably brought your business to a screeching halt. With 30 million people applying for unemployment benefits since February, many pundits believe that investing in single family homes is like catching a falling knife. What if there was a strategy that could deliver significant near-term returns? In This episode of The Land.MBA Podcast we discuss the opportunity that traditional real estate investors have been looking for.

Those of you who are experienced real estate investors understand cycles. This cycle is just at the start. And it looks like it’s going to be an extreme one. We haven't seen the full financial effects yet because people are just losing their jobs. They're just starting to run out of savings. Because we are just at the start of this cycle, flipping houses is going to be dead for a while. Real buying opportunities aren’t going to start until 2021. But that isn’t the case for all asset classes.

Today, we're talking about our favorite asset which is raw land. What’s great about land is that it is congruent to your business if you're already a flipper or a wholesaler. I made this transition during the 2008 downturn. I didn't have to go and learn something completely new. In land investing you can use a lot of your existing knowledge. And with that knowledge you will be able to quickly scale-up your land business.

Land investing is a lot less volatile than other asset classes because you don't have the cheap debt. That is what drives up prices very, very quickly. And then when we have a we have a bust, it really busts. You don't have that with land because it's either cash or seller financing. But many of the skills and techniques that you use wholesaling and flipping, can be applied into the land business.

You're going to be familiar with contracts, with option agreements, closing techniques and how to work with a title company. You're also going to be familiar with a lot of the marketing concepts like direct mail. Land investing offers the opportunity for a low point of entry and the ability to start quickly.

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Do you suffer from the entrepreneurs paradox? On the one hand you want to thrive. You want to grow your customer base, increase your revenues and maximize your profits. On the other hand, you want to save money, spend less, minimize your risk and play it safe. The entrepreneurs paradox is when your desire for expansion comes into contact with that seemingly impenetrable wall of your need for safety. You can't have it both ways. In today's episode of The Land.MBA Podcast, we're going to speak with Marco Robert.

Marco is a world renowned business consultant and speaker. He's been called a cross between James Bond, Tony Robbins and your favorite college professor. When he's not jet setting to Singapore or Zurich, you can find him savouring his favorite single malt whiskey. He advises corporate boards, CEOs and top entrepreneurs. Today he's inspiring us on how to get out of our own way and achieve the success we've always dreamed about.

Marco divides the world into two groups of people. About 95% of human beings are normal, average and ordinary. There's nothing wrong with that, right? You were raised by normal people, your neighbors are normal. Your wife is probably normal. Your cousins are normal. Everybody around you is pretty much normal. But normal people will not have extraordinary results in life. If you're a normal person, you will not have extraordinary results; you're going to have normal results. If you're taking the same actions as everybody else you're not going to have different results.

The word entrepreneur is French. It means a person who undertakes. What does that mean? They undertake to create solutions for the world. They undertake to find solutions to big problems of the world. So there are different human beings. So that other 3 or 4% of human beings is what he calls outliers. They're not part of the group.

If you want a different result you have to follow a different path. Marci built a model for helping businesses thrive. It's called the boss model. That stands for business, optimizing strategic systems. In other words, it's a series of systems to strategically optimize any business. Since 2010 Marco has been traveling around the world and teaching the same methodology to entrepreneurs.

Step one of the methodology is you have to be the right kind of person. You have to ask yourself what you really want. Do you want safety or do you want to risk something in order to grow?

If you're not on the right path, if you don't feel that you are achieving something, instead of trying to shoot for the moon aim for a more modest goal. The first thing that you need to do is you need to prove your own competence. I would much rather you commit to drinking six glasses of water every day. And then actually do this for 30 days in a row. Because when you prove to yourself that you can make a decision, and you can follow through that you can commit to something and you can follow through. your level of confidence is going to explode because you're going to realize that you are a competent human being.

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I remember the first deal I did in the land business. It was awful. I bought this crappy quarter acre lot in southeast Utah in the middle of nowhere, and I paid too much for it. It took me five months to sell it and I only made 83% return on investment. Can you imagine? I made 83% return on investment in five months, and it's the worst deal I've ever done. Try doing that in the stock market or any other market for that matter. My best deal to date I made over 3,000% return on investment. In this episode of The Land.MBA Podcast, David and I will discuss why land is our favorite investment strategy.

Land investing has provided a lot of people a lot of freedom. Whether you're someone that's just looking for a side hustle because you've hit that glass ceiling in your career, or you just don't want to work for the man forever. For anybody who's gone to business school or gotten an MBA, you always hear that the purpose of a business is to increase shareholder wealth. That is the primary objective of a business. Well, as a business owner, I can say that is absolutely true. And yet so many of us we leave business school and we go off into the corporate world and we forget that what we are doing is we are working hard to increase shareholder wealth, but we're not really the shareholders

At this stage in my life, I have four absolutely non-negotiable requirements in my career.The first one is, I have to love what I'm doing. I have to look forward to getting up in the morning. If I don't, I'll go find something else to do. The second thing is there can be no cap on how much money I can make. If I'm willing to work twice as hard. I want to make twice as much money. Third is geographic independence. We live in the internet age. If I've got a laptop or a smartphone and an internet connection I should be able to do this business from anywhere in the world. Doesn't matter whether I'm at home, I'm in an RV in a national park so long as there's internet. The last non-negotiable requirement is ensuring I can never be fired or downsized.

In the land business you buy land that you've never seen in a county that you've never been to, from a person that you've never met. And then you turn around and sell it to somebody else that you've never met, all from the comfort of your own home. It's just insane. It's wonderful. And on top of that much of that workflow can be automated and outsourced.

I know a guy in the land business, who used to be a teacher. He's now doing this full time. It took him three years to get up to the point where he had the choice to leave the teaching profession. But he would just crush it in the summer. He would work really hard in the summer and that would carry him through the rest of the year.

I also think the land business is a great side gig for a realtor. Same story for wholesalers and house flippers. It's a congruent stream of income and a lot of the same principles apply. So, it's pretty easy to adopt them to the land business. Real estate investors are already familiar with sending mail out and targeting sellers so it's a natural fit.

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How many times do you speak to somebody who's angry, untrusting, uncooperative or otherwise resistant to making a deal? It seems like most sales conversations start with the other side at least hesitating. If only there was a way to get these people to see us as allies, helping them to achieve their dreams. In this episode of The Land.MBA Podcast, we're going to discuss tactical empathy, which when used correctly, is impossible to resist.

Today’s topic contributes towards sales conversations but also how to turn all of those conversations into actual sales! Over the last year or so, we have been talking a lot about Chris Voss, and his book Never Split the Difference. This is a must read! It applies to any type of negotiation, whether you're in the land business or any other business. There's just so many good principles in this book that real estate investors can use both on the buy side and the sell side.

One of the principles that really resonates with me is called tactical empathy. Now, I've always thought about empathy as you know, walking in someone else's shoes for a mile. But what does Chris mean in his book by the term tactical empathy?

I think I had a completely incorrect understanding of the word empathy. I thought it just meant seeing the world through someone else’s eyes. I've come to realize that I can barely see the world through my own eyes. So the chances of me actually seeing it through somebody else's eyes are about next to zilch. I think men in general are particularly bad at this. We're just not as naturally intuitive as women. Women are better at it. Empathy is not being able to necessarily feel what somebody else feels, that's a really hard thing to do. Nor is it about agreeing with somebody else's position. It's simply to be able to understand where the other person is coming from and why they have the position that they have.

So and then once you understand where they're coming from, you really want to go to the next step, which is to validate where they're coming from. And even the validation doesn't mean you agree with it. Their position may be completely delusional. That doesn't matter. What matters is that you're saying I understand where you're coming from and how you got there. Nothing more. It’s not a judgment or agreement or disagreement or anything else, I just understand where you're coming from and how you got there. And if you can understand that, it's a lot easier to show empathy. Whatever they are dealing with be it spouses, boyfriends, girlfriends, kids, whatever - there is a deep seated need to be understood. And one of the most frustrating things is when you're talking to somebody else, and they're so intent on telling you their position, they're not investing the time or the effort to understand where you're coming from.

That doesn't mean they have to agree with them. But at least give them the respect to understand where they are coming from and why they have the position that they have. And that's all that empathy means.

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Gross Profit is the difference between how much you make on a property and what you actually pay for it. So if you want to increase your profit per deal, you either have to increase your price, or you need to decrease the price that you pay. In this episode of The Land.MBA Podcast, we're going to speak with Lucas King who went from zero to six figures in less than six months. He's going to share with you how he shaved $4,000 off the purchase price of a property with this one simple technique.

Lucas started his coaching with Land Speed, last June, but he didn't buy my first property until September. One of the first properties he bought for $8K and sold for $17K. One of his big lessons from that was to just attack it.

“Don't be afraid to make mistakes and make money,” he says. “You will make money!

There's a difference between being entrepreneurial, and being an entrepreneur. And the difference is your willingness to take a risk. That being said Lucas also seeks out the lowest risk possible things he can do. If you're careful about what you're buying, you can always sell it back to the market at what you bought it for. So, the overall risk is very low.

Never be afraid to offer a lower price. Start by using phrases like, “Would you accept?” All of a sudden you’ve presented the seller with a choice between a lower price and no money at all.

It's a great lesson in many aspects of life. If you don't ask the answer is always, “no”. I think a lot of people either don't think about asking or they're afraid to. You can absolutely get a better deal on anything jf you deploy some of these techniques. There's there's nothing wrong with it. You're not holding a gun to anybody's head!

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Did you accomplish your goals last year? How about last quarter? How about yesterday? It's such a lousy feeling when you get to the end of the day and you realize you just haven't accomplished that much. Can you remember a time when you were in total flow and had an incredibly productive day? Man that feels good. In today's episode of The Land.MBA Podcast, we're going to deconstruct 5 techniques that you can use to improve your productivity by an order of magnitude.

There’s lot’s of different kinds of productivity. There's individual productivity, team productivity and there's organizational productivity. A lot of us in land investing are solopreneurs. So we just have to figure out how to get ourselves productive.

Here are the 5 ways to up your productivity:

Goal setting

If we don't know what it is we're trying to accomplish, chances are we're not going to accomplish it.

Triage

Understand what's urgent versus what's important.

Smartphones

Are they tools of the trade, or are they destructive?

Schedule Schedule your work each day so you know what has to be done.

Manage people

We're not just talking about employees, but we're talking about customers, we're talking about partners, we're talking about family members. We're talking about whoever could be impeding upon your time and your ability to stay focused on the task at hand.

Goal setting for land investors is absolutely critical. Things like this quarter, I'm going to get my website out. I'm going to increase my deal flow to 5 properties a month to 10 properties a month. Whatever it is, have that goal and deconstruct it. Figure out what it's going to take to achieve that goal and break that into daily and weekly goals and daily tasks.

If you execute these five rules, I guarantee you, your productivity will improve by an order of magnitude!

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It's widely believed by psychologists that you can't change a mind that's already convinced of something. If you doubt me, post something political on Facebook. This doesn't mean that you can't influence people's decisions. In this episode of The Land.MBA Podcast, we're going to talk about resonance. What is it? And how do you use it to bring people to your way of thinking? Master this skill, and you will increase your deal flow.

In this context, we're talking about, of course, our potential buyers, and how do we resonate with them. Basically, we want them to sell themselves on our product. Ronald Reagan once said If you have to explain yourself you've already lost. Nobody wants to be explained to. Once we've established a belief in something, it's almost impossible to get people off that belief system.

Typically, when we market a property you say things like, “it's got this many acres, and it's got road access, and it's got a slope and it's got some trees and it's got some grassy area,” etc. But there is a problem with that. There's a gap between the attributes of the property and what somebody might actually want to do with it. We're leaving it for them to cross that chasm.

Our challenge is to make him believe that it's only our property that can meet their needs. And so we need to be able to resonate with them. It's not about logic, it's about the emotion. What do they care about? What do they want to do with it? How is this land going to improve their lives?

I cannot change your mind if you believe something. I am not going to go onto Facebook and make an impassioned political plea. I'm not going to convince you, it just ain't gonna happen. But if I can find out something that's already inside of you, and I can tap into that. Now, we're going to start to say, Oh, you know what, this person kind of gets me I kind of get that person, I'm opening up, I'm willing to listen. And before you know, you can start swaying them to your way of thinking. So that's what resonance is. It's finding what's already inside of a person and building upon it.

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Have you ever thought of bringing a partner into your business? Wouldn't it be nice to have someone to lean on so all the pressure isn't just on you? Of course, you'd have to share the profits. So, like everything, there are pros and cons. In this episode of The Land.MBA Podcast, we're going to talk about the reasons for partnering, the prerequisites for making a successful partnership and the potential risks.

You hear a lot of horror stories out there about partnerships, don't you? I’ve done more than just hear those horror stories, I've actually witnessed them. You start out with all the best intentions and everything is rainbows and unicorns. But then things start to go horribly wrong. If you look at the rate of failure of small business in the United States, was it the partnership? Or was it the failure of both partners to execute? So I think the truth kind of falls somewhere in between.

There's certain prerequisites that make a good partnership. Before you do something, you have to know why you're doing it. “Wouldn’t it be fun to work with my friend in the land business,” is not a very good reason. What you really need is someone that can fill gaps in your knowledge and expertise. Someone who can make the business much more well rounded. You need to understand what gaps your partner would fill before they join your team.

There's a lot of value in finding somebody who's not like you. The problem is that can create a very frustrating experience. And so you have to figure out how you can work together without annoying one another.

This is a relationship. It's not that much different than a spousal relationship. Self awareness is everything. If you want to have a successful partnership, it takes humility. It takes a thick. If you can call each other out without things descending into a screaming match - you may have found the right partner.

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What is luck? Do you have to be lucky to succeed in the land business? Well, it certainly doesn't hurt. But luck occures more reliably when you set yourself up to be lucky. In today's episode of The Land.MBA Podcast, we're speaking with Trevor Hartsock who purchased hundreds of properties in one single deal.

How did he do it? The bottom line is you just always have to keep the mail going. You always got to keep the phone ringing. It's like anything in life, you just you just keep raising your game. A lot of people that get into the business their first couple of mailers don’t go so well. So they give up.

“You got to just keep putting one foot in front of the other,” Trevor says.

The key is to just keep applying the principles. Eventually, you will get a base hit and then a double. And then you will get your first home run. And everything will become clear after that. One week in the land business can change everything!

As Trevor grew his business he quickly began to realize that there was too much for one person to do. This is a critical moment for any business owner. The moment when you realzie you need help. But letting go is not a skill most entrepreneurs have. The first step for Trevor was hiring a VA. Just having someone to handle calls and email took an enormous weight off his shoulders.

Land.MBA is all about scaling your business. It’s about giving you the tools to grow quickly and efficiently . A big part of that is creating a team around yourself. Being trapped in the mindset of doing everything yourself is one of the biggest reasons most businesses get trapped on the plateau. Don’t let it happen to you!

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What is a brand? What is the value of branding? Does branding matter in the land business? On today's episode of The Land.MBA Podcast we're going to discuss branding in the context of the land business. Whether you should worry about it, and if so, how to use it to your advantage.

The definition of a brand, according to The American Marketing Association, is a name, term or symbol that identifies your good or service. That's the official definition. I have to say, I am not a fan of the official definition for a lot of reasons, but one reason is that because it basically implies that the company alone creates the brand. But in fact, the company only has so much impact on what that brand means. Actually, it's the consumer that defines more about what the brand means.

If you want to have a brand that emphasizes great customer service, well, you better deliver great customer service. Because it doesn't matter what you say, it only matters what the consumer experiences. And if they experience something different than what you're putting out in your branding, you're just wasting your money.

But why does it matter in the land business? I mean, we're just looking for a piece of land to sell. It's a valid question.

Let me give you a couple examples. Does it really matter whether I go to Exxon or Sunoco? I mean, gas is gas, right? So why would I maybe choose Sunoco over Exxon? Because they built a brand and it means something to me. And so I associate it's part of my family of brands that Identify with. I mean, I can tell you why I don't use Exxon. I've literally bought Exxon gas one time since the Exxon Valdez incident. I didn't like the way they handled it. But honestly, from a product perspective, it doesn't matter.

Look at handbags. You can go buy a Louis Vuitton for a thousand dollars, or you can go to Target and get one for $30. Materially, it's practically the exact same thing. So why am I spending $970 more for Louis Vuitton is because of the brand.

Most of the land business is conducted through the internet with somebody that you’ve never met. That transaction requires trust and a relationship. Now, you must build that trust and relationship in your sales process, but it's a whole lot easier if you've already built credibility with your brand.

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You can't make more money unless you either increase your deal flow, invest in more expensive properties, or a combination of the two. For most land investors, the size and composition of their deal flow is limited by available capital. What would you do if money was no object? In this episode of the Land.MBA Podcast we will discuss five creative financing techniques to acquire properties without using any of your own money.

Wouldn't it be cool if we could make more money without having to invest our money? We only have so much money that we can invest. We don't want to invest all of our money into one asset class. That's just a bit dangerous from a typical investing philosophy. So why not use other people's money?

For every good property that comes your way, how many do we pass up because you’ve run out of capital or you don't have enough money. Partnering with someone on a deal is a great way to increase your overall flow. But people often complain that they don’t want to partner with anyone because they will have to split the profit. But half the profit is better than nothing!

Think about your deal flow like a flywheel. It takes quite a bit of energy to get it to spin. But once it’s going it takes very little energy to keep it spinning. The goal is to keep as many deals going as possible each month

We are going to explore in this podcast 5 creative ways to finance your deals so you can acquire properties with no money down. And, and that really will allow you to grow your business much faster without the restraints of your personal capital abilities. Not all situations are suitable to all of these techniques. And that is where, you know, having a good coach is so important.

If you are interested in that deeper layer of advice and coaching sign-up for our free 30 minute discovery session.

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We are extremely excited to have a real star in the land investing community on the show. He is way too humble to admit to that. But the numbers speak for themselves. We are here with Mike Ferreira. Mike has been in the land business full time since 2015 and was doing it part time before that. He's got a tremendous amount of experience and knows how to succeed in this industry.

Mike does around 10 to 20 deals per month. Most of those are term deals though he does flip properties as well. Mike is based in Florida and that is where all his business takes place.

One subdivision in Florida can have as many properties as some counties in other states. It’s a perfect place to be a land investor.

Mike likes to cater to the impulse buyer. He will get new clients reaching out to him randomly at 2 AM after visiting his website. He funnels those new clients to his website or Facebook pages with online advertising. His preferred places to advertise are on Facebook and a few other land investing groups.

Most of the Mike’s deals cost a couple of thousand dollars. Sometimes he will pay more in the range of $9 thousand but those are in neighborhoods with actual houses, power and even water.

He is not interested in hand-holding his clients. A tour of the property is time-consuming and does little to add to your knowledge of the place. Mike is in a wholesale business and so customer service is not at the top of his priority list. He makes sure his clients know that and is upfront about the higher interest rates he charges.

People are generally trusting and Mike reciprocates that in his business. He’s not interested in trying to get one over on someone. The business is so trusting that sometimes people will just sign-over the deed to their property without having received a cheque yet. It’s kind of crazy. But Mike isn’t interested in ripping people off. He always sends the cheque because protecting his reputation is incredibly important to the long-term success of his business.

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I'm a data geek. I like to understand things so that I can feel more confident in my decisions. Too much analysis can be the death of dreams. Because in the pursuit of perfect knowledge, we delay taking action. In this episode of the Land.MBA Podcast, we're going to talk about the role of analysis in the land investing business. And knowing when you cross the line into analysis paralysis.

At heart, I'm a military guy, I fall back on some military principles. As George Patton said, “A good solution applied with vigor soon is better than a perfect solution applied 10 minutes later.”

It's got to be action. So if you're looking for 100% confidence, you're missing the market. Bill Gates says when he hits 80% certainty he takes action.

We can see this principal in the development of product. It used to be that when you develop a product, you would go out and you would do market research and you figure out what the market wanted and you build your product plan from there. But it doesn't work that way anymore. Now, you create something called the “minimal viable product”. You get it out there and you let the market give you feedback. The market tells you what they want. You don't have to guess anymore. So it's all about moving fast and getting something out there so the market talks to you.

So how much analysis is the right amount? It depends on the situation. But again, if you're waiting for 100% confidence in a decision, you're waiting too long

These decisions aren’t always easy. Take, for example, pricing mailers. It can be a little bit nerve racking trying to figure out the right price. You can essentially kill your model because of spending so much time doing it. Conversely, being too flippant can also spell disaster. So if you're using a tool like Price Boss, you can bring a lot of data into the model and turn out an analysis based on a lot more data than you could copy and pasting it onto a spreadsheet.

But how much do you really need? The two words you need remember are: “diminishing returns”. At some point, you're just putting more information in there, but you're not getting a real return on the level of effort and time that you're investing in that additional information.

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How would you like to add an extra $12,000 per year straight to the bottom line? Don't think it's possible? Well think again. On this episode of the land MBA podcast, we will show you how to increase your land profits with one simple trick.

This is a pretty provocative topic for a podcast. Adding additional $12,000 bucks a year without increasing my deal volume. It definitely sounds too good to be true. There's always pressure on every business to increase revenue and profits. If you're in a public company, the pressure is even higher.

There's really only three ways that you can increase profits. It starts with either increasing your revenue, reducing your costs or increasing your deal volume. The best way to reliably increase your profits is by reducing your costs.

When you are negotiating your deals there is simple trick to maximize your success rate. Whatever you ask for, you must come across humble. It must be presented as a very reasonable thing. You have to explain why you're asking for that price and why it's reasonable.

So what about this $12,000 we keep talking about. Where does that number come from? If you are currently doing 10 deals a month, that would be about 120 a year. Your goal should be to average about $100 decrease per property in that final negotiation between due diligence and closing. Sometimes it doesn't work out at all, or sometimes you do less. But if you can average $100, and you're doing 10 properties a month, that's $1,000 a month, that's $12,000 a year. Obviously if you're doing a smaller deal flow, the number is smaller, but proportionally, it's the same.

When you firststart to do this in your negotiations, it may feel a little bit uncomfortable. It may feel like you’re pulling a bait and switch. But after a few times, it'll feel perfectly natural. It’s important emphasize this point . What what you're doing is ethical. It's appropriate. It is a natural part of business, which is price discovery. And at any point in time, if they don't like it, they can say no. And if they say no, you could still do the deal. I mean, there's no reason you can't change your mindset.

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I am super excited because we have a phenomenal guest today on the show. His name is Jaren Barnes. He's just got a deep background in many facets of the real estate industry - most prominently as a key person in the success of Bigger Pockets. He started out working in pre-foreclosures where he was knocking on doors, finding opportunities for his employer in that market. He's since become a very active and very successful land investor. And because he hates to be bored, he's also now the creative director over at REtipster.

Jaren has built a business based on incredible volume. He sells on average between 20 to 30 properties per month. That is a jaw-dropping number. He believes that the land business has all the perks of wholesaling houses and none of the drawbacks. Direct mail is still so much more affordable in land investing. It's just amazing because the land business is the only asset class that I know of where you have people that literally do not care about the property and want to give it to you for pennies on the dollar. When you deal with houses. There's just a lot more emotion involved.

Recently he bought a property for $500 and sold it for $25,000. That's not a typical deal. That's definitely a home run. But what other type of real estate class has deals like that?

Jaren is hugely impressed by the growing role of technology in the land investing business:

“I am shocked at the amount of technology it attracts a lot of engineers and software engineers,” he says.

With houses, because it's such a localized market you can fly the seat of your pants. But most land investors will never see the land they are buying. To make informed decisions you need lots of data. And that’s why there is such a wealth of information out there along with software tools to glean powerful insights. Leveraging those tools is the real secret to Jaren’s success. And it can be for you too.

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The Land.MBA tagline is “Think big, start small and scale fast”. So have you thought big and started small? What about scaling? When it comes to scaling, you really need that CEO mindset so you can build a highly efficient organization that manages the day to day for you.

In this episode, Dave and I are going to speak with Roman Northcut, who has built an organization with dedicated full time employees. Now his seven figure land business is growing faster than ever, and he's looking for new challenges to fill all of his available time.

As Roman grew his business burnout became a serious issue. When you're in the start-up phase you tend to do everything yourself. But when it comes time to scale, a lot of people can't break away from that. And so they can't grow more than incrementally because they are the bottleneck in their business. Roman is a big believer in adding team members that can remove that bottle-neck. He brought on people who are full-timers. Not just freelance VA’s. Building that team can be difficult. In the end it all comes down to extensively vetting every new hire. Now he has built a team that allows his business to grow fast. And it all started with his decision to let go. Time is money.

It’s cliche but it is absolutely true.

Roman know that every position he hires free up his time. And his time is far more valuable. It shouldn’t be wasted on the minutia of running the business. That's how he looks at every member of his team.

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You've picked your county. You've priced your list. You've mailed your letters, and then finally, you bought some properties. Inventory is great, but it's all for nothing unless you can sell it. Wouldn't it be great if you could get the customer to sell themselves? Marketing is like throwing bait into the water to attract the fish. In this episode of Land MBA podcast, we're going to talk about setting that hook and reeling that fish into your sold folder.

Sometimes you buy a piece of land and you think it's gonna be great for a particular purpose. Then you find out that something's wrong with it. What are you going to do with it? There's always a market you just got to find the right use for the right market.

Maybe a buyer might call you thinking one thing about the property you have and be totally wrong, but you've got another property to sell them. You always want to have a diverse inventory.

There's one golden rule to live by. And that is you have two ears and one mouth use them proportionately. Your job is to get your client talking. And too many times we want to jump and tell them about this attribute and that attribute, but we don't take the time to find out what their dream is. You need to build a trust. And then, as you let them talk a little bit more, you ask some really good questions that really make it apparent to them that you care.

Here is the golden piece of advice. If you haven't read, Never Split the Difference by Chris Voss yet, stop what you're doing right now. It is a life changer in every regard, but particularly, it's useful in the land business. The techniques in that book are absolutely phenomenal. And one of the key techniques that he talks about is mirroring. Basically, you just repeat those last three words and then silence. Never be afraid of the silence because silence is uncomfortable.

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They say that the goal of business is to maximize shareholder value. In the typical land business, we are the shareholders. So the question is, should we seek the maximum price we can get when selling a property? What about cash deals versus terms deals? What's the right mix?

The best way to get the results that we want out of our business is to set the right goals and to set the right plan in place to achieve it. Otherwise, we're just the little rowboat on the ocean letting the ocean take us wherever it wants to take us. That’s where margin versus velocity comes in.

The question is, do you want to hold out for the maximum price? But low and sell high means selling at the highest margin possible. But what if you want to turn your money around quickly? Then buy very low and sell low. That’s velocity. There can be more work in velocity. And it depends on the size of the deals you're doing. And it really depends on your preferences. Do you want to hold out for more money or do you want to keep turning that money around quickly while building your war chest?

Time equals money. If it takes longer than your money is not working as hard for you as it can. I had a property a couple years ago. I think I paid about 30 for it. I tried to hold out to get 60-70 for it. And I ended up having it on the market for nine months. And I eventually sold it, I think for like 49. Well, if I had just not been greedy and dropped my price initially it would have sold much more quickly. Had I been more aggressive on my pricing, I would have ended up actually making a lot more money at the end of the year.

By going with the lower price, but selling it faster, we could potentially increase our profits. Sometimes by as much as 40%. That's a pretty substantial increase by selling low. And when you look at the math, it's pretty standard.

There's nothing more risky than just depending on a single source of income from an employer. You got to have another income stream. I don't care whether it's investing in land or it's some sort of e commerce business. How can you really feel confident in your ability to always be able to support your family, knowing with one income stream from a single company. There's no loyalty. You got to have that side hustle.

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I've got land. Want to buy some? If you think that that marketing message might need a little bit of work, you’re right. The right message resonates with buyers. You have to understand what their needs and aspirations are. And that all starts with market segmentation.

When you really come down to it, everything is marketing. What are we going to go after? That's marketing. What products should we build? That's marketing. How should we price the product? How should we promote the product? That's marketing. The whole business is marketing.

Segmentation is really the very first step in marketing. The last thing you ever want to do in marketing is be all things to all people. That is really the kiss of death. A lot of people approach business that way. They think having a product that appeaks to lots of people will allow them to reach a large audience. It just doesn't work that way. The fact of the matter is, especially in this digital economy, where we are inundated with information, we really need to hear messages that resonate deeply with our needs and aspirations or we're moving on to the next message. There’s only so much time in the day and you only get about a half a second to get their attention.

We can all imagine what some of these market segments might look like. I mean, we are going to sell those five acre lots at the base of Blanca Peak in Costa County. These are people that don't have a lot of money. They're probably on a fixed income. Maybe they're a veteran. That paints a certain kind of picture of that person. They speak a certain kind of language. But if you go sell something at the base of a ski resort, it's a very different kind of a person. They speak a different language. They have a completely different idea of how they would want to use the land.

I would rather have a hyper focused message to a very specific target market than a general generic message to a very, very large market. And the fact of the matter is, we live in the internet age. We're communicating through the internet, which means we're, like it or not, we're communicating to billions of people. So our job is to identify that smaller segment that we can talk to. We could still probably find hundreds, if not thousands of people in a very, very niche market. That will really resonate with what it is we're trying to say.

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In today's podcast, we're going to talk about market sizing and ask that all important question. Does size really matter? In business? You bet it does.

We want to go where the opportunity is. Understanding how to do market sizing is really important. You want to get this information right. There's three concentric circles you need to consider.

The biggest circle is the total available market. Sometimes this is also called the total addressable market. How many people or how many businesses are there that could potentially buy what it is you're selling in total?
Then there's the circle in the middle, which we call the service available or the served available market. This is the subsection of the marker that is interested in your product.
The smallest concentric circle in the middle is what we would call the share of market which is okay within that market of people who would actually buy it, what share of the market can I reasonably get?

When you go to size a market, there's two ways that you can do it. You can do a top down analysis or you can do a bottoms up analysis. The top down analysis depends on secondary research. You're looking at big, broad based numbers to come up with your answer.

The bottoms up analysis is much harder, but it's actually much more accurate. Using Census Bureau information you discover in detail all the relevant information you need. Using that data you create lists of all the sub-markets you want to go after. Then you add them all together and that's the total available market.

Using a service like Zillow you can look at the size of the county. Look at the total number of properties available. Then look at how many are for sale and how many were actually sold. If there's a reasonable balance, that might be a county you’re interested in.

As you're starting out, you know, it takes a while to develop all the skills. There are people in the industry who keep their portfolio diverse, but make a lot of money by really focusing on a certain area. Maintain a diverse set of areas and property types because then you've got a broader audience to market to. You should always be selling something if you've got a diverse inventory.

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Does the land investing community really need another podcast? I'll give you a hint. The answer is yes. I'm Howard Zonder, CEO and founder of Land Speed with my good friend David van Steenkiste CEO and founder of Mile High Rural Land.

What I'm really hungry for is a podcast that focuses on much more advanced topics. There are so many investors out there that had been in the business for a while. They've demonstrated to themselves that this is a legit business that they want to pursue. This podcast is for those people seeking a higher level business skills that can be applied into their land business.

So what does that mean? We're taking business principles, like marketing, sales, logistics, and due diligence - and applying them to land investing. We've been at this a few years now. And I think we have a lot of experience to add for people. Not just the fluff but the realistic side. You can create nice income from this this niche. But we're going to tell you straight-up and talk about the troubles and bumps in the road that we've experience. And hopefully give you some nuggets of wisdom to help you prevent stepping on those same landmines.

There's a difference between having a regular regular deal flow that's generating some income and achieving your dream. It's an interesting thing that working in big companies is not the same as being an entrepreneur. The requirements for those jobs are actually different. Fortunately, for me, I have a lot of friends that were very successful entrepreneurs that I was able to latch on to and create my brain trust. Most of that advice were just basics about a business. How to take an entrepreneurial idea and grow it into a thriving enterprise.

That was the missing piece that I needed to get past that plateau. And it’s that kind if advice I’m exited to share with you.

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Land.MBA Podcast: Recent Episodes

Howard Zonder and David VanSteenkiste

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We're not saying that the SVB bank crash is a good thing in and of itself, but we do believe that it's created a unique situation that land investors can take advantage of. If you're interested in flipping land or getting into the land investing market, now is a great time to do it.

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