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56 minutes | Jun 17, 2021
EP: 37: Reel in the Big Fish and Grow your Land Investment Business with Andrew and Felicia from Compass Land USA
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.
51 minutes | Jun 15, 2021
EP: 36 How to manage your monthly costs and make more money investing in land!
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.
44 minutes | May 20, 2021
EP: 035 Time is Money, Don't Waste it Doing Paperwork | Interview with Fabrica Founder Federico Pomi
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. ----more---- 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
47 minutes | Mar 4, 2021
Traits of Successful Land Investors
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.
44 minutes | Feb 13, 2021
Full time Real Estate Investing while Travelling in an RV full time
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.
47 minutes | Nov 20, 2020
Make it a comeback with Real Estate Coach Joe Mendoza
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!
21 minutes | Oct 26, 2020
How to leverage your knowledge into a 6 figure income | Ft. Derik Keith
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. Facebook: https://www.facebook.com/mylandmba Instagram: https://www.instagram.com/land.mba/ Website: https://www.land.mba/podcast
59 minutes | Oct 16, 2020
Adam Adams on Multifamily and Synergies with Land Investing
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.
58 minutes | Oct 9, 2020
Joe McCall on Marketing, Housing and Why He Loves Land Investing
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 mountainJoe’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. Facebook:https://www.facebook.com/mylandmbaInstagram:https://www.instagram.com/land.mba/Website:https://www.land.mba/podcast
51 minutes | Oct 3, 2020
The good, the bad and the ugly about seller financing of land
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. Facebook:https://www.facebook.com/mylandmbaInstagram:https://www.instagram.com/land.mba/Website:https://www.land.mba/podcast
67 minutes | Sep 26, 2020
Interview with Jay Jacobson and Cory Thomas: Their REI Success and Passive Investment Strategies
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/ _________________________________ Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
52 minutes | Sep 18, 2020
Interview: How to Flip US Land from Across the Pond
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:firstname.lastname@example.orgFacebook:https://www.facebook.com/mylandmbaInstagram:https://www.instagram.com/land.mba/Website:https://www.land.mba/podcast
57 minutes | Sep 15, 2020
A hobby that makes $35k per month with Dave Denniston
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.” Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
45 minutes | Sep 11, 2020
Using market inefficiencies to create arbitrage
When I tell people that I make hundreds to thousands percent
59 minutes | Sep 4, 2020
Joe Aboussie & how he is scaling his land business
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 entrepreneurJoe 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. Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
43 minutes | Sep 1, 2020
The secret to becoming a great entrepreneur with Mike VanSteenkiste
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 KiyosakiAnything by Robert G. AllenRichest Man in Babylon by George S. KlasonFacebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcastYOUTUBE:https://youtu.be/-t-MvsQu2eM
45 minutes | Aug 25, 2020
Why Wholesalers and Flipper Should add Vacant Land to their Real Estate Mix
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. Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
79 minutes | Aug 21, 2020
Marco Robert & Outlier Entrepreneurs in Land Investing
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. Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
45 minutes | Aug 18, 2020
Why Land Investing Is One of My Favorite Real Estate Investing Strategies
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.Facebook:https://www.facebook.com/mylandmbaInstagram:https://www.instagram.com/land.mba/Website:https://www.land.mba/podcast
25 minutes | Aug 14, 2020
How to use tactical empathy to increase sales in your land investing business
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.Facebook:https://www.facebook.com/mylandmba Instagram:https://www.instagram.com/land.mba/ Website:https://www.land.mba/podcast
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