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May 22, 2020

Raw Land Investing: Avoiding Tenants, Toilets and Termites, with Scott Bossman

Episode 168:

When Scott Bossman stumbled into the world of land investing, he had no experience in real estate or business. He was working 40-50 hours a week as a physical therapist, but looking for a way to spend more time with his family. In his search for passive income options, he ran across one of Mark Podolsky’s podcasts and was hooked on the idea of raw land flipping as the ideal passive income model, since it avoids “the 3 T’s” of traditional real estate investing (tenants, toilets, and termites). Under Mark’s guidance at TheLandGeek.com, Scott learned how to seek out viable prospects for raw land deals, make the right offers, close deals (often for pennies on the dollar), then sell those same parcels to interested buyers.

Scott and his wife, Erin, have been investing in raw land for 4 years. Scott was able to replace his income as a Physical Therapist in just 2 years, and he quit his job in 3 years. He now works as a PT just 1-2 afternoons a week, and he enjoys the luxury of working at home in his land business. Scott and Erin’s business has enabled them to spend more time with their 4 sons and to experience a degree of financial security that they would never have dreamed possible.

Scott is now a member of the Land Geek team, and he is passionate about sharing what he’s learned to inspire others to pursue their dreams of financial freedom through raw land investing.

What you’ll learn about in this episode:

  • How Scott got started with real estate by listening to Mark Podolsky’s podcast, and how he rapidly found success
  • How Scott made the decision to go into full time land investing after just three years after his first deal
  • Why Scott got over his apprehension and made the leap to full time investing, and how this has had a positive impact on his home life with his wife and four kids
  • How Scott uses direct mail to find investment land and can turn smaller, low value land deals into big profits
  • How Scott and his team have built a list of leads by contacting counties for lists of tax delinquent properties before they go to tax auction
  • How developing strong relationships and being consistent have created great investment opportunities for Scott, and how the number of deals he does has continued to grow
  • What mistakes Scott has made over the course of his career, and how he has learned from those mistakes
  • How Scott uses systems and automation to minimize his effort while maximizing the number of deals he can do, and how Virtual Assistants have become a big part of his business
  • Why going full time with his investing career has freed Scott up to spend more time with his family
  • Why raw land investing can create an incredible passive income stream with low effort and fewer headaches than other real estate niches

Resources:

Scott Bossman’s Recommended Reading List:

Additional resources:

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