How to Invest in Real Estate with No Money with Mark Podolsky
05/19/21 • 32 min
Investing in real estate does not always require cash and, in this episode, you will learn how to invest in real estate without tenants, termites, or even toilets! Today’s guest is Mark Podolsky, AKA The Land Geek, author of Dirt Rich: The Ultimate Guide to Helping You Build A Passive Income and Founder of Frontier Properties, a reputable investment company that specializes in the acquisition of raw and developed land throughout the United States. He has been buying and selling land full-time since 2001 and, by working smart, not hard, he has completed over 5,500 land deals with an average ROI of over 300 percent on cash flips and over 1,000 percent on the deals where he sells with financing terms. He wants to help you do the same, so tune in to hear his insight and practical advice for taking advantage of bigger margins and earning 300 percent ROI in what Mark calls the “gateway drug” to bigger deals, cash reserves, and opportunities!
Key Points From This Episode:
- Hear Mark’s story and how he discovered 300 percent returns in land investing.
- Find out how buying raw land to flip and sell actually works.
- The systems Mark created to automate the process of identifying land deals, from offer and acceptance to due diligence and closing.
- Taking advantage of big margins in an inefficient niche for hedge funds and private equity.
- Why Mark says land is a great “gateway drug” to bigger deals, greater cash reserves, and for gaining real estate experience.
- Some of the programs Mark has developed to help others through the process.
- Red flags to look out for, like superfund sites and what Mark calls “got-to-have-land ITIS.”
- Mark emphasizes that, while this is a simple process, “it ain’t easy.”
- What to ask your deal sponsor: how do you have skin in the game?
- Why Mark is most proud of remaining profitable between 2010 and 2012.
- His recommended books, which include The ONE Thing and The 12 Week Year.
- Learn about Mark’s number one key to success; meditation.
Links Mentioned in Today’s Episode:
Investing in real estate does not always require cash and, in this episode, you will learn how to invest in real estate without tenants, termites, or even toilets! Today’s guest is Mark Podolsky, AKA The Land Geek, author of Dirt Rich: The Ultimate Guide to Helping You Build A Passive Income and Founder of Frontier Properties, a reputable investment company that specializes in the acquisition of raw and developed land throughout the United States. He has been buying and selling land full-time since 2001 and, by working smart, not hard, he has completed over 5,500 land deals with an average ROI of over 300 percent on cash flips and over 1,000 percent on the deals where he sells with financing terms. He wants to help you do the same, so tune in to hear his insight and practical advice for taking advantage of bigger margins and earning 300 percent ROI in what Mark calls the “gateway drug” to bigger deals, cash reserves, and opportunities!
Key Points From This Episode:
- Hear Mark’s story and how he discovered 300 percent returns in land investing.
- Find out how buying raw land to flip and sell actually works.
- The systems Mark created to automate the process of identifying land deals, from offer and acceptance to due diligence and closing.
- Taking advantage of big margins in an inefficient niche for hedge funds and private equity.
- Why Mark says land is a great “gateway drug” to bigger deals, greater cash reserves, and for gaining real estate experience.
- Some of the programs Mark has developed to help others through the process.
- Red flags to look out for, like superfund sites and what Mark calls “got-to-have-land ITIS.”
- Mark emphasizes that, while this is a simple process, “it ain’t easy.”
- What to ask your deal sponsor: how do you have skin in the game?
- Why Mark is most proud of remaining profitable between 2010 and 2012.
- His recommended books, which include The ONE Thing and The 12 Week Year.
- Learn about Mark’s number one key to success; meditation.
Links Mentioned in Today’s Episode:
Previous Episode
Overcoming Big Mistakes with Mike Morawski
Mike Morawksi’s journey in the real estate industry, and in life in general, hasn’t always been smooth sailing but it has certainly been colorful and full of great successes to make up for the low points. Everybody makes mistakes, but some are bigger than others; the mistakes that Mike made during the 2008 financial crisis led to him being sentenced to 10 years in federal prison. But we are not defined by our failures, we are defined by how we get back up from them. Mike took a situation that could have ruined his life and turned it into something that he is extremely proud of. In today’s episode, Mike candidly shares his mistakes and what he learned from them, as well as his numerous achievements and how they have shaped his life. One of these is the book he has written, Exit Plan, which is freely available as an Ebook, and is well worth a read. Mike has a wealth of knowledge, experience, and advice which will be extremely valuable to anyone in the real estate industry so don’t miss out on this one!
Key Points From This Episode:
- The moment Mike decided he needed to change his life and what made him decide to pursue a career in real estate.
- Mike’s journey from house-hacker to coach, and everything in between.
- How Mike quickly scaled up from his first 11-unit deal.
- Decisions Mike made that led to him being sentenced to 10 years in federal prison.
- Words of wisdom from a man Mike met in prison, which turned his life around.
- The numerous achievements that define the majority of Mike’s time in prison.
- Why Mike decided to enter the coaching and training space when he left prison.
- What Mike loves about the multifamily real estate space.
- Advice for anyone in working in real estate who has not had to deal with a financial crisis yet.
- Mike explains why it is essential to have an exit plan (which is also the name of his book) and the different types of exit plans that exist.
- An example of one of Mike’s exit plans that he used in 2008.
- The “sweet spot” and suggestions for what you should be doing when you get to that point.
- What Mike is most proud of and the quality that has helped him get to where he is today.
- Book recommendations from Mike, and how you can get in touch with him.
Links Mentioned in Today’s Episode:
My Core Intentions on Instagram
My Core Intentions on Facebook
The 7 Habits of Highly Effective People by Stephen Covey
Next Episode
Becoming a Trusted Advisor to you Investors with Brian Caffarelli
Today’s guest, Brian Caffarelli is a partner at STS Consulting who helps his clients grow their revenues and margins through a broad spectrum of sales effectiveness and relationship management strategies. Using a unique combination of his prior sales expertise and the organizational psychology insights he has gained through working at STS Consulting, Brian assists organizations in selling better and more effectively by helping them see the value of putting trust before the sale. In today’s episode, he explains that what makes selling so difficult is the fact that buying is equally difficult, and it’s important to put yourself in the position of the buyer in order to meet them where they are on the buyer journey and best serve their needs. Tuning in, you’ll learn more about the buyer journey, from problem to deal, and come to better understand the trust equation, a concept borrowed from The Trusted Advisor by David Maister, Charles Green, and Robert Galford. Ultimately, what has served Brian in his career was taking the ‘trust before sale’ concept to heart and realizing that it wasn’t about helping the buyer understand him, but rather about helping the buyer understand themselves. This is an insightful conversation full of practical advice and wisdom, so make sure not to miss it!
Key Points From This Episode:
- An introduction to Brian Caffarelli and his career trajectory.
- Brian explains that what makes selling difficult is the fact that buying is equally difficult.
- The value of the ability to guide someone in making an informed and competent decision.
- Hear about the buyer journey and why it is so important to meet them where they are at.
- How conflict can arise when the seller doesn’t take the time to understand the buyer's problem, which is step one on their journey.
- Understanding the partner before the deal and putting trust before the sale.
- The trust equation: earn credibility, demonstrate reliability, create an environment of professional intimacy, and manage out your self-orientation.
- The emotional, affective, or heart-oriented elements of the equation that are most powerful.
- Find out what intimacy means in this context and how to create it.
- Creating intimacy at scale with many different personality types, starting with listening.
- Why part of listening is asking really good, thought-provoking questions.
- Why Brian believes it’s all about helping the buyer understand themselves.
- The important role that showing vulnerability plays in earning the trust of others.
- Learn more about self-orientation and how to go about minimizing it.
- Some practical advice for listeners: think like a buyer, earn their trust, and be their guide.
- One question the buyer should ask the seller: what would you do in my shoes and why?
- Brian describes his proudest career moments; helping sellers realize selling isn’t so bad.
- Hear his number one key to success, which is understanding trust comes before the sale.
Links Mentioned in Today’s Episode:
Ritter on Real Estate - How to Invest in Real Estate with No Money with Mark Podolsky
Transcript
“MP: Yeah, I mean, there's a lust for land in this country that you're probably not aware of. There’s billions of acres for sale and there's no big money in our niche, so you're not going to go on HGTV or the DIY network and see Flip This Land. The before picture is raw land. The after picture is raw land. It’s just boring, and then there's no big money. There's no hedge funds or private equity groups because, to deploy a billion dollars in
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