meta_pixel
Tapesearch Logo
Log in
The Art of Passive Income

Land Investing Mistakes—No Big Deal

The Art of Passive Income

Mark Podolsky

Howtobecomearealestateinvestor, Taxlieninvesting, How To, Entrepreneurship, Bestwaytostartinvestinginrealestate, Education, Passiveincome, Bestwaytoinvestinrealestate, Taxlienproperties, Taxliensales, Howtomakemoneyinrealestate, Taxlienpropertiesforsale, Passiverealestateincome, Makingmoneyfromrealestate, Bestrealestateinvestments, Howtobuytaxlienproperties, Business, Realestate, Propertytaxliens, Startingarealestatebusiness, Investing

5681 Ratings

🗓️ 19 March 2019

⏱️ 33 minutes

🧾️ Download transcript

Summary

We all make mistakes in the land investing business, the good news is they are fixable but they all come with valuable lessons! Today, Team Geek shares their biggest mistakes and the lessons that were learned. Scott Todd takes the controls for this week's Round Table as Mark is away visiting… this is where it becomes a little unclear because there seems to be some discrepancy between stories. If you ask Tate, Mark is off visiting Tate’s favorite factory where they make cheese. If you ask Scott T., Mark’s at the Cheesecake Factory. Either way he can’t go wrong and we hope he’s enjoying good quality time with his family! With Scott Todd in the pilot’s seat, this week’s crew includes: Scott Bossman Tate Litchfield Aaron Williams Mimi Schmidt Erik Peterson Listen in now as the team shares some of their biggest mistakes and the lessons that were learned. In short: Scott Bossman went into joint ownership with the deceased. Aaron sold a property that wasn’t his to sell. Erik bought 12 properties in bulk, 2 of which had been previously sold to someone else and one of those two Erik had pre-sold. He also shares a business strategy mistake he made in the beginning that kept him from scaling quicker. Tate double sold due to a data entry error on the APN. He also shares a big regret that moved Scott Todd to bring out the soapbox. Also, Mimi received an accepted offer for 1,175. The seller is a trucker who is never in town so he used a middleman to get everything done. Mimi paid the accepted offer of 1,175 and the middleman deeded the property over to her… deal done... wrong! She started getting harassing phone calls from the owner because he thought the offer was for 11,750, not 1,175! Ultimately, she ended up deeding the property back... but BEFORE she got her money back… this can’t end well. Find out how Mimi’s story ends and the details of all the deals gone wrong. Plus, Scott Todd shares a mistake that he is currently going through. It's a case of joint tenancy with rights of survivorship—the husband is deceased, surviving wife sells Scott the property but failed to disclose the prefix “EX” in front of her title of wife. Should that make a difference? It does, says the county. Find out the details now... TIP OF THE WEEK Mimi: Entrepreneurship is neither a science nor an art. It is a practice by Peter Drucker. So keep practicing!  Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

Transcript

Click on a timestamp to play from that location

0:00.0

Do you have solo economic dependency? That is, if you aren't working, you aren't making money.

0:06.6

The art of passive income podcast is the solution. Discover passive income models so you can

0:12.9

enjoy life on your own terms. Let freedom ring. Hey everyone, it's Scott and welcome to the

0:20.1

Land Geek podcast Roundtable. Today, Mark is out. He's on vacation, actually, with his family. Someone just told me, I think he's at the cheesecake factory. No, no, no, no. He's at my, one of my favorite factories where they make cheese, Scott. So you guys are hearing me, the cheesecake factory.

0:39.9

So next time you see, Mark, make sure that you razz them about being at the cheesecake factory.

0:44.2

He won't know what he's talking about and just telling him that I said so.

0:48.0

Good enough.

0:48.5

And Tate said so, too.

0:50.4

I didn't say so.

0:52.0

All right.

0:52.7

So let's go.

0:53.8

We have a smaller group today.

0:55.8

We've got Scott Bossman.

0:59.2

I forget, I don't know Marks-All's nicknames for you guys.

1:01.3

I know Bearland, but come on.

1:03.0

The Nightcap Meister, is that what it is?

1:05.3

The Nightcap Meister, I believe, is my new nickname.

1:08.6

We got to change our headings there, so I get it.

1:11.7

And then we have the Bearland.

1:14.9

I know that one.

1:15.7

Aaron Williams, how are you doing, Aaron?

1:17.7

Hey, I'm doing great.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Mark Podolsky, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Mark Podolsky and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.