Mark Podolsky, founder of Land Geek, explains his raw land investing model to Nathan Latka by sharing the exact financials of a recent land deal in Nevada.
0:00 / 0:16exact quote · 16.7s
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“So the last deal I did was I bought 160 acres for 6000 dollars. Now the person had back taxes of about 200 dollars. So I'm in it for 6200 dollars. And we flipped that 160 acre parcel for 54,000.”
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More from Mark Podolsky
AssertionNot checkable as stated
Podolsky Claims 1,000% ROI on Owner Financing and 300% on Flips
“Our average ROI is over a thousand percent on owner financing and 300% on flips.”
Mark PodolskyJan 23, 2016▶ 10:24Smart Way to Buy Profitable Land with Mark Podolsky of Landgeek
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Podolsky Says Direct Mail Land Offer Acceptance Should Be 3% to 5%
“If it's over five percent, I know that I was off on my offers. It was too high. And if it's under three percent, I probably went a little too low in that county.”
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Podolsky: Raw Land Owner Financing Is the Ultimate Subscription Business
“I think I have the ultimate subscription model in the sense that I'm buying an asset that requires no renters, no rehabs, no renovations, no rodents. But then I, what I do is I do owner financing. So it's a one-time sale and then I get recurring income every s…”
Mark PodolskyJan 23, 2016▶ 4:24Smart Way to Buy Profitable Land with Mark Podolsky of Landgeek
Insight
Podolsky: Raw land is exceptionally difficult to value
“Land is a very difficult thing to actually value. It's one of those last bastions of assets that it's truly what a buyer and a seller agreed to.”
Mark PodolskyJan 23, 2016▶ 5:12Smart Way to Buy Profitable Land with Mark Podolsky of Landgeek
Disclosure
Podolsky Sees a 20% Default Rate on Owner-Financed Land Deals
“About 20%.”
Mark PodolskyJan 23, 2016▶ 9:49Smart Way to Buy Profitable Land with Mark Podolsky of Landgeek
AssertionNot checkable as stated
Podolsky Claims His Worst Deal Across 5,000 Transactions Made $100,000
“Out of those 5000 unique transactions, my worst deal was I made a 100,000 dollars on a on a community that was overdeveloped.”
Mark PodolskyJan 23, 2016▶ 11:33Smart Way to Buy Profitable Land with Mark Podolsky of Landgeek
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