Mark Podolsky, The Land Geek, is widely considered the Country’s most trusted and foremost authority on buying and selling raw, undeveloped land within the United States. He has completed over 5,000 unique transactions. This level of success is largely due to his core business philosophy – and one that translates to all business industries – – “Happy Customers Guaranteed.”
Mark is a fellow podcaster and host of one of the top rated Investment shows: The Best Passive Income Model and The Art of Passive Income.
Episode Summary: Embrace the Suck, Invest in Raw Land, and Grow By Letting Go with the Land Geek Mark Podolsky
- I’d get the Friday blues knowing the weekend would be too short and I’d be back to work
- I started with $3000 dollars (for car repairs) but made 300% return
- Two types of auctions
- Tax deed auction- deeded over to new owner
- Tax lien- investor pays taxes for you- then can foreclose
- Go to the county treasurer- get tax lien information
- Warren Buffet margin of safety
- Two criteria
- Owe back taxes
- Live out of state
- Built in “best buyer” is the neighbor
- Property sold in 30 days on owner financing terms
[shareable cite=”Mark Podolsky”]My business is 90% automated[/shareable]
- 2 questions I have
- What do you do when there is no buyer?
- Never been stuck
- What about competition?
- Billions of acres
- No private equity/no venture funding
- Massive market- no one doing it
- What do you do when there is no buyer?
- How has your team grown? Not much- staying small
- Routines and systems helps you be an entrepreneur- working on the business not in the business
- Terminal days- if this was my last day on earth, how would I spend my time?
- Systems and automation create the time to do what I really want to do
- How do you balance your team and what they do? It is hard. You have to fall and the net will appear. Try and adjust
- Rule 30:1. I will train someone 30x the amount of time it takes me to do
- What can I eliminate, delegate or automate?
- The only way to grow is to let go
- I only do the revenue generating activities- things with a return on time invested
- When you explain the value they are creating, they work harder
- Parkinson’s Law of money- expenses expand to meet income
- Avoiding the dips by knowing your priorities, what is important
- Find your primary business and build up the systems so it can operate at high efficiency
- Never take your eye off the primary driver of revenue (daily basis)
- You’ve got to take action on the things you want in life. Embrace the suck
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Learning From Leaders:
Current Book: Happy: Why More or Less Everything is Absolutely Fine by Derren Brown
Best Movie Ever: Shawshank Redemption
Leadership Superpower: Caring
Motivational Mantra:
[shareable cite=”Zig Ziglar”]If you’ll do for the next 3-5 years what most people won’t do; you’ll be able to do for the rest of your life what other people can’t[/shareable]
Leadership Trait to Pass to Next Generation: Empathy
Best Book Ever: The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller
Additional Items Mentioned