The Art of Passive Income Is There Land You Should Avoid Buying? Value Is In The Eye Of The Beholder
In today’s episode of The Art of Passive Income—Round Table edition, Scott Todd is taking over the controls while Mark is away and joining him are:
- Scott Bossman
- Jeannie Morem
- Erik Peterson
- Aaron Williams
- Tate Litchfield
Jeannie starts us off with the question, is there such a thing as bad land?
She was told by the county that the land she bought is useless because it can’t be developed but she has sold property in that area before without any problems. She also took a field trip out to see it and found it had beautiful views. So does bad land really exist or is value in the eye of the beholder?
I wouldn't say that there is bad land, just bad buys. Anything can be good if it's at the right price. The people at the county have a single track thought process. They’re processing papers and 90% of that is building permits so as far as they're concerned, that property that can’t be developed is useless.
But, what about the guy who just wants to take his ATV out there and cram around or somebody that's a serious rock hound? That’s extremely valuable property to them.
So, that person at the county is not your customer. I would say there’s not so much bad land, but some undesirable bits about it. Just make sure you get it at the right price and then it's good land. -Aaron
Everyone shares their property field trip experiences and advice on why you shouldn’t let some undesirable conditions concern you. And, wait until you hear Tate’s nightmare field trip where he was stuck on the property in the middle of the desert and had to dig his way out in 100-degree weather, and he had no water!
Then, Aaron shares the details of an eBay auction he had to kill because the numbers weren’t working for him. Was it a good move?
Listen in as we go over eBay pricing strategies so the numbers make sense!
TIP OF THE WEEKErik: A quote by Dale Carnegie, Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.
Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?