Mark Podolsky is the CEO and founder of The Land Geek, the foremost authority on buying and selling raw land in the US. As an investment banker, Mark dreaded work. He found himself miserable and micromanaged in the reality of his solo economic dependency. So. with $3000, in the early 2000s, he bought his first parcels of raw land. Now, in addition to The Land Geek, Mark owns Frontier Properties, a firm that has created a unique asset class of investing in raw land. He is also the founder of geekpay.io, the author of Dirt Rich: How One Ambitiously Lazy Geek Created Passive Income in Real Estate Without Renters, Renovations, and Rehabs, and the host of The Art of Passive Income podcast.
[00:40] Introducing Mark Podolsky
[02:54] Mark’s Background and How He Found Raw Land Investment
[08:18] The Raw Land Investment Model
[13:15] Raw Land and Neighbours as Buyers
[18:49] Land Investment, Scalability and Economic Downturns
[23:50] Initial Impediments to Structuring Your Loans
[27:55] Outsourcing, Building Systems and Scaling
[29:09] The Sustainability of Land Investment
[30:30] The Effect of the Pandemic on Land Investment
[32:58] The Future of Land Investment
According to Mark, land is an inefficient market. No one really knows what the value is, and it is determined only by what the buyer and seller agree on at any given time. His investment model begins with taking the lowest estimated value of a plot of land and dividing that number by four. The quotient becomes his initial offer amount to the potential seller.
Mark believes that any model of creating wealth should be scalable. Following advice from a particularly successful entrepreneur, Mark learned to make his business self-sufficient through building systems and teams that kept the gears turning when he couldn't. This scalability allowed Mark the freedom and time that he had searched for, for decades. After 21 years, Mark is happy to work in a niche that meets all his needs. Land investing solved his money and time problems and released him from the clutches of solo economic dependency.
Links and Resources
The Art of Passive Income Podcast with Mark Podolsky and Scott Todd
Connect With Sean:
Facebook: https://www.facebook.com/profile.php?id=100060279543976
LinkedIn: https://www.linkedin.com/in/leveraged-life/
Instagram: https://www.instagram.com/sean_adams103/
Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpg
For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: sean@leveraged-life.com.
All shared information from the Wealth Secrets Podcast should not be taken as legal or financial advice. Please consult with a professional before making any decisions.