Posted on: January 22, 2021

Today’s episode is a very special one. It’s the first podcast hosted by Wholesaling Inc.’s newest rockstar coach, Brent Bowers. If you are passionate about land and land investing and would like to know more about it, Brent is your man!

For Brent, land is one of the most lucrative and best kept secrets of the real estate world. Suffice it to say, Brent is way ahead of everyone else when it comes to land investing. The good news? He’s willing to share all he knows!

If the idea of building a lucrative passive income excites you, this is one episode you just can’t miss!

Key Takeaways

  • What she does for a living
  • What her monetary goal per month is
  • What prompted her to build a business
  • What she wants to do with her time once she reaches her financial goals
  • Ideal place to start doing land deals
  • What a tax delinquent list is and how to get it
  • First two action steps you need to do when first starting out

RESOURCES:

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Episode Transcription

Darrin Bentley:
Hey guys, Darrin Bentley here, and welcome to another episode of the Wholesaling Inc podcast. And today you are in for a very special episode. In fact, what you are about to listen to, well let’s just say that you are not going to want to miss today’s episode. As you know, Wholesaling Inc has just officially launched its brand new land wholesaling program, the Land Sharks with coach Brent Bowers. And if you haven’t listened to this past Tuesday’s episode with him and Brent Daniels, in that episode, Brent shared how he was able to build a business that now generates between 40 and $50,000 per month with land. But wait, it gets even better than that because that 40 to 50K per month is all passive income, meaning that it comes into his bank account whether he’s working or sitting on a beach somewhere. So if you haven’t listened to that, I would strongly encourage you to check it out.
Right now, we believe at Wholesaling Inc that land is one of the biggest and best kept secrets in real estate investing. Because unlike traditional wholesaling, with land there’s virtually no competition and you’re able to generate passive income and you’re able to do all of that without needing to be a landlord or deal with tenants or going through nasty hoarder houses. And you’re also able to snatch up land for like nothing, literally almost nothing. Brent has literally picked up double parcels of land for as little as 200 bucks. So yeah, we are super excited to be able to offer this new program, and we know it’s going to change a lot of people’s lives. But back to what we’re about to listen to today. So on today’s episode, which is the first of a series of podcasts in the Do or Die series, Brent Bowers is literally going to take a newbie by the hand and walk them, step by step, to their very first land deal, generating passive income.
And he’s going to be doing all of that live across several podcasts. So you’ll get to be a fly on the wall and listen in as he helps a total newbie do their first land deal and helps them onto building a passive income generating machine. So if the idea of building a business that generates consistent monthly income excites you, you are not going to want to miss this series.
And for those of you who might not know this, way back, like several years ago, this type of podcast series was exactly how our head rhino, Tom Krol got to his very first wholesaling deal. It was with his brother Todd Toback who hosted a series of podcasts and brought Tom, sometimes kicking and screaming, brought Tom to his very first real estate deal. So buckle up and make sure that you take really, really good notes on this series, which we’ll be releasing one episode per week over the next several weeks. And you’ll get to witness Brent doing his thing live and getting someone, a mystery guest, I’m not going to tell you who right now you have to listen. But getting someone to their very first land deal and onto a passive income generating business. So enjoy.

Brent Bowers:
Hello rhino tribe. This is Brent Bowers, and I have an amazing series of episodes coming your way. I am talking to a very special guest today. And before I tell you who it is, I want to tell you what we’re doing. I am going to walk this guest through a series of episodes in many, many steps, we’re going to teach this guest how to buy and sell her first piece of land and get her passive income. I’m going to go ahead and let the cat out of the bag, let you in on the secret. This guest is Tom Krol’s sister. Her name is Tracy Krol. Welcome Tracy, how are you today?

Tracy Krol:
Hey Brent, I am excellent and excited to get started.

Brent Bowers:
I’m excited to do this. This is going to be amazing. I’ve never actually coached somebody on a live podcast. So this is new to me. I’ve coached many people how to buy and sell land. I still have a active real estate company buying and selling land. Every day I have a team now doing it, so that allows me to do my passion, which is coaching guys and girls just like you, Tracy, how to buy and sell your first piece of land. Tracy, what do you do for a living?

Tracy Krol:
So I’ve been in education for over 15 years. I’ve been a math teacher. Right now, I’m a math coach where I coach other teachers to be great at their job. And I do love my job, I do like what I do.

Brent Bowers:
Well, thank you so much. Thank you, thank you, thank you that you have a very, very noble job in society. How does the pay look like for something like that? You coach other teachers. You must be making $100,00 a year, right?

Tracy Krol:
I wish. Yeah, I guess that’s my biggest complaint. I feel like I do a good job. Every time I get into a position, I do get promotions pretty quickly. I feel like I’m always trying to work my way to the top. But unfortunately in my industry, no matter how hard you work, there is a very set pay scale. And so I’m just making in the mid seventies and I live in a big city, so that’s not much. So I guess that’s my biggest complaint is I work hard, I’m really good at what I do, but I’m just not seeing that I’m being matched with what I get paid.

Brent Bowers:
Well, God bless you. Obviously you’re not doing what you do for the pay. I once heard someone say, could you imagine if teachers were paid like doctors and attorneys and something pinged in my mind. I was like, do you really want attorneys and doctors and people that are in it for the pay to be teaching our children. So very noble position. I respect you. I don’t have the patience or the understanding to teach children. I have three children and they actually teach me something every day and that’s patience and understanding and just kindness. So I don’t know how you and all the teachers do it. I just found out actually a friend of mine from high school just took a teaching position. I was like, “God bless you, man.” I always thought he had so much patience. So he’s actually doing his calling now, which is teaching. So thank you, Tracy, for what you do.

Tracy Krol:
Thank you. Yeah, I love it. But again, yeah, definitely the pay doesn’t always match and we definitely don’t do it for the pay.

Brent Bowers:
Well, we’re going to take care of the pay here. I want to talk to you a little bit about what we’re going to do. I’m going to walk you through the steps of how to buy land at massive, massive discounts and turn around and sell this land to the masses. How do we sell it to the masses? We’re basically going to build a buyers list that can put a down payment and pay monthly payments. That’s how we expand our buyers list. We have so many buyers available because most people, most Americans, are able to make monthly payments. And imagine life paved on your terms, you create the life on your terms. You create a business on your terms.
So funny story, I just had a bunch of people over at our lake house. We’re in Florida, we’re vacationing from the 12th of December to the 31st of December, pretty much three-quarters of December. Well, I was a little bummed last night. It was Sunday night, everyone was leaving and then my parents ended up leaving this morning because everyone had to get to that job at eight o’clock on Monday morning. Part of me is kind of happy now because the house is pretty quiet, been hanging out with the kids this morning. But the other part of me was like, man, can’t you all stay? We want to go out in the boat. But it made me really thankful and thinking, thank God we have these monthly land payments coming in. Imagine a life on your terms to where you have monthly payments coming in every single month, and you don’t have to be anywhere on Monday if you don’t want to be there. So that brings me to a question to you, Tracy, what is your monetary goal? Where do you want to be at per month? Like how much?

Tracy Krol:
So definitely to start off, looking at this for the first year of doing it, I would want to be at 10,000 a month. And I think I could be really happy financially and live comfortably the way I’d like to.

Brent Bowers:
Wow, 10,000 a month. That is amazing. I remember when I was building this business and I was trying to get out of the military. I had a W2 position and I just needed to be at $6,000 a month. Well, I hit that in about six months and that gave me the permission to start my transition out of the military. So 10,000, that rocks. Kudos for that, that is huge. That is so doable. So, so doable. And I will get you there. So I’m going to ask you during this to have something called blind faith. I’m going to ask you to take some action steps that are probably going to be a little uncomfortable. Just trust in the system, trust in the processes, get uncomfortable. One of the things I’m going to ask you to do is spend money. You’re going to have to spend money on some systems.
You’re going to have to spend money getting some mail out the door, because at the end of the day, that is where the rubber meets the road. We have to get the mail out of the door and I call them the land offer letters, the LOL, because when people receive these things in their mailbox on the piece of land that they forgot they owned, they usually laugh out loud. And then when we receive them signed back, me and my team laugh out loud because we’re getting a piece of land at 40 or 30 or 20 cents on the dollar. So we call them the LOLs. So you’re going to have to get uncomfortable, get uncomfortable. So question Tracy, why now? What in the world has got you wanting to build a business? What made you decide today that you’re doing this?

Tracy Krol:
That’s a great question. I went through school, I got my master’s degree and a part of me, so I hate to admit, but I just turned 40. And I think that when you go through school and I got my master’s degree and I really thought that with all my education and being a hard worker, I got promotions and I kept on moving up the ladder, that at 40 years old, I’d be in a really comfortable position when it came to my finances. And I just realized I’m never going to, if I stay where I am, I’m never going to hit those goals financially, where I could feel more comfortable with a salary. And I do have friends who are entrepreneurs or they didn’t go to college and they’re making more money than I am. And I still have student loans to pay and other expenses. So I’m just really looking for a change and to eventually make money that I’ll feel really financially free.

Brent Bowers:
So what does it look like as far as with your time freedom as well? Once you hit this income goal per month, what do you want to do with your time? Who do you want to spend it with? What do you want to do that you’re not able to do currently with your current position you have?

Tracy Krol:
With my current position, I have such a set schedule and constantly working even off the clock when I’m at home, and I don’t have that opportunity to travel as much, especially with the lack of funds to get plane tickets. So I would love to be able to travel more with friends and family. I have a lot of family that lives down in Florida and be able to hop on a plane and go visit them without having to worry about taking days off or not being able to afford the flight.

Brent Bowers:
I love it. So family in Florida, I’m the same thing. The same goal. Every six months, we’re down in Florida and my friends and family, they really don’t know what the heck I do, but they know that they see me about every six months and we enjoy it so much. It’s just being able to jump on a plane. And I know you had mentioned earlier, it’s like you don’t want to have to worry about the cost. I remember talking with my wife, I wanted to make sure she was on board when we first started this back in 2016, early 2016, late 2015. But the biggest thing, it was like, what if we could just start covering our expenses one by one by one? First was the electric bill, second was the water bill, third was the gas bill for the heating of our house.
And I remember hitting all those goals. And then pretty soon we’d hit that $6,000 per month, and that was my expenses then. I remember walking to a meeting when I was in the military and just feeling so much lighter that we had hit that monthly income goal. So that was my biggest thing. So are you ready to jump into this, Tracy, as far as the action steps on what to do to start building this passive income?

Tracy Krol:
Yes. I’m ready. If it’s possible, I’m ready to jump in and give it a shot.

Brent Bowers:
All right. Feel free, stop me with any questions. Don’t hesitate. All right. First thing I want you to do is take out your pen and paper and tell me when you’re ready.

Tracy Krol:
I am ready.

Brent Bowers:
All right. So mark this day down. This is the day you change your life with passive income and investing in land. So I want you to just think of this as a problem-solving business. And you’re going to be paid very, very well to solve problems. At the end of the day, it’s not land, it’s not real estate, it’s not all these weird, crazy terminology and words we don’t all understand. But one thing we’re doing is solving problems. We’re taking one man’s trash and turning it into someone else’s treasure. So basically, what we’re doing is solving a seller’s problem by buying this land at a massive discount.
And why do I say we’re solving their problem is they probably haven’t been paying their taxes or they inherited the land from somebody, some relative. They don’t know they own it, and that is true, that happens all the time, or they think they sold it a couple of years ago, or they’ve never stepped foot on it. So it’s sometimes a great burden when we take these huge burdens off these lands sellers’ shoulders, and then turning that into someone else’s treasure when we buy this land at a massive discount, and we turn around and offer it to the masses by allowing them easy, affordable payments. We’re now changing someone else’s life. That’s something they want or changing their legacy. I still remember one of the first land deals I did, and I actually did this with my father, one of my first ones. We were signing the paperwork on the front of my truck, the front hood of my truck to this young little couple, and they had just come in from Cuba.
This was actually in Florida we were doing this deal. They had just gotten their citizenship. They went through all the routes and they were making their down payment on their piece of land. I remember praying to God like, “Dear Lord, please do not let them default. Don’t let them stop making their payments on this land because I really want to see these people pay this land off to where we can transfer the deed to them, and there’ll be the owners so one day they’re going to build a house on this land.” So that’s all we’re doing, we’re solving problems.

Tracy Krol:
That story, because I feel like right now I’m in a position where I am helping. And I guess that was something that I worried about, am I going to be getting into something that I can still be proud of and be solving problems still?

Brent Bowers:
Yeah, you’re absolutely right. You helped so many people with what you do as far as being a teacher. So it’s like you always want to be fulfilled by what you’re doing. It’s not just about the money. I mean, the money is great, it’s just a tool though at the end of the day, and there’s so much available, there’s just so much abundance. I feel like the more money that my company makes, the more people we help and the more people we help, the more money we make. It’s just such a great circle. So next thing I want you to write down is how much money you want to make? What is the income goal, the monetary goal? How much money do you want coming in your bank account each month from your land sales?

Tracy Krol:
This is something that I’ve thought long and hard about because of course we all want unlimited money coming in, but realistically making 10,000 a month would take care of my monthly expenses and would allow me then to start saving and building up to things that I’m looking forward to getting in the future. So my goal for my first year is 10,000 a month.

Brent Bowers:
$10,000 a month. That is awesome. Did you just hear my $6,000 number and just try and double it? Is that what you were trying to do?

Tracy Krol:
I’m a go-getter, so yes.

Brent Bowers:
I love it, crush it. So $10,000 a month. That absolutely amazing and so doable. I think we hit 6,000. I think it took us almost like nine months to get there. So you said in your first year. How many months? What is the goal? What is the timeline? When will you be there?

Tracy Krol:
So I’m hoping that by the next school year, which starts in September, if I was making 10,000 a month or on track to make that for that first year of doing this, that I’d feel really confident and comfortable to make this my new career.

Brent Bowers:
So nine months from now. So is that September 1st?

Tracy Krol:
September 1st.

Brent Bowers:
All right, September 1st. So I want you to write this down, “September 1st, I, Tracy Krol, will be making $10,000 per month, passive income.” And then the last thing I want you to write down is who will you be spending more quality time with September 1st, when you have $10,000 a month coming in each month? Once you get out of bed or you’re working in your garden or flying a kite or sitting on the beach, I don’t care what you do, who will you be spending more quality time with each month?

Tracy Krol:
All right. I would definitely be spending more time with my family down in Florida and traveling with my friends, just the thought of that is really surreal. I would love to be making that. I hope it becomes a reality.

Brent Bowers:
How do you plan on traveling to Florida so much?

Tracy Krol:
You mean how I’m going to get there?

Brent Bowers:
Yeah. How are you going to get there? Are you going to drive? Are you going to fly? Are you going to boat?

Tracy Krol:
So with my low funds right now, a lot of times I drive because it’s the cheapest, but I would like to be able to feel like I could just buy a plane ticket, hop on a plane without worrying about it. And so I would definitely fly.

Brent Bowers:
I love it. Have you ever flown first class?

Tracy Krol:
I have not flown first class because those tickets do not fit into my budget right now.

Brent Bowers:
If you agree to this, you got to use your first land sale to celebrate. Positive reinforcement, psychological, I don’t care what you want to call it, I am always for celebrating on each deal and it doesn’t have to be extravagant. But you do that first land sale and you treat yourself to a first-class ticket to Florida and it’s just going to spark a great emotional, conditional, however you want to call it. I do this with my parents. My dad’s on, I think I said this already, land deal number 35. And his first deal he did, I said, “Dad, you’ve got to take mom out to dinner, celebrate.” And I remember he was like, “No son, there’s not much funds for that.” I was like, “I don’t care. Figure it out.” You’ve got to celebrate the wins. So maybe that might not be your thing, but celebrate the wins. So I say first class it up on the way to Florida for that first trip, after you do your first land deal.

Tracy Krol:
I will make a deal with you that I will absolutely do that. I will stretch out in first-class, finely be comfortable on a plane and that would be awesome.

Brent Bowers:
It will change your life. It will so change your life. So I was just like you, I felt so like, “Oh, I can’t spend the extra money.” Now I’m like, “Oh my gosh.” You just feel incredible. It’s just a psychological thing, it’s a confidence thing. I don’t know, I just enjoy it. But let’s talk about the action steps now. Are you ready, Tracy, to take the action steps to getting this land business launched?

Tracy Krol:
Absolutely. Seeing my goal on this paper, I’m very motivated to get started.

Brent Bowers:
One more thing about that goal. I’m so glad you wrote it down. I want you to keep that in front of you so you could see it every single day. By September 1st, I’ll be at $10,000 a month. It doesn’t matter how you’re going to get there. That seed has been planted, now it’s time to start watering it.

Tracy Krol:
All right. Awesome.

Brent Bowers:
So step number one, action step. And this is probably one of the harder things for most of the people that I’ve coached is picking your playground. Pick that county. This is the area you’re going to be buying land at massive discounts and turning around and selling it to the masses. So that is probably the hardest thing for most people. So I want to give you a couple tips on picking this county or your playground. I talk about some examples in the course, but I just like to see that there’s some data for these counties.
I generally try and pick things that are a little bit in the outskirts, like 30 minutes away from the McDonald’s and the Walmart. But I also like to see that there some buying and selling going on by either looking at Zillow or the land sites. I talk about on the course, but they’re the land sites like landwatch.com or landflip.com. And another one of my favorites is landcentury.com. So that’s really it as far as picking your county.
And then I want to put a timeline on this as well. I’m all about timelines of when goals need to happen. So give yourself 24 hours to make this decision, to pick this county. Pray about this, meditate on it and make a decision. I could say that there’s one common denominator of all my successful students with land buying and selling in the land investing journey is they’re decisive and they take action. They take action really quick. So that is the one common denominator with all of them. So that’s why I put these timelines, these short timelines on these things. And there’s something called Parkinson’s law, the task will expand with time we give it. So if I only give you 24 hours, the task isn’t too large. Does that make sense, Tracy?

Tracy Krol:
It does. Well, I did have a quick question.

Brent Bowers:
Go ahead.

Tracy Krol:
Picking that playground. Do you recommend sticking your own state or should you branch out? How does that work?

Brent Bowers:
Oh, incredible question. So I started in my own backyard and then I kind of expanded a little bit and now I’ve started buying in states that I don’t go to. And I’m in three states and I don’t step foot on any of the land anymore. And here’s the why. It was a personal thing for me because I kept getting emotional with the land. I remember my wife would be like, “You can’t keep all of it.” And that’s what I mean with getting emotional. It’d be like such a beautiful piece of land and I’d want to keep it. It’s just like, we cannot keep all of it. So I started in my own backyard, but you don’t have to be in your own state. You could be anywhere in the United States.
I’ll give you my top five States is Colorado, Florida, Arizona, Nevada, and South Dakota. So those are my top five favorite. That doesn’t mean that those are the only places you can make money. And so to answer your question, no, absolutely, I do not recommend sticking in your own state. I recommend going where there’s other land investors already making money because Tracy, I don’t want you to be a pioneer, I want you to get revenue coming in as fast as absolute possible.

Tracy Krol:
Okay, that makes sense.

Brent Bowers:
Does that answer that up? Does that clear it or did I confuse?

Tracy Krol:
No, I got it. Yeah, I was curious about that, but I guess you’re not going to the land, so it really doesn’t matter where you are.

Brent Bowers:
Yeah. And I want you to be able to do this from Florida, Hawaii, Philippines, wherever you want to be vacationing at. And I’ve mentioned this already, we’re in Florida for three weeks now and we’re still buying and selling land. We’re not stepping foot on it. And my team is not stepping foot on it. If someone wants to meet us, they come to the office, things like that. And you don’t have to have an office to do this. I’m just saying we’re not traveling. My team is all in multiple states and also overseas.
Action step number two, this is the gold list. It’s not a very big list and it’s a little bit difficult to get. And that’s what I was telling you about, you’re going to have to probably get a little uncomfortable. So this is the county tax delinquent list. Tax delinquent list is basically where property owners stop paying their taxes on their land. So as far as how to get this list, are you familiar with, you ever heard of the county treasurer, Tracy?

Tracy Krol:
I have, yep.

Brent Bowers:
Awesome. So whatever county you choose, here’s how to get in touch with them. You just Google, let’s just use an example county, El Paso County treasurer, and that’s how you find the phone number. Call these guys and just ask, “Hey, who’s in charge of keeping track of the people that pay the taxes on their land.” And for example, they’ll say, “Hey, talk to Judy.” So you get on the phone with Judy and say, “Hey Judy, I’m a land buyer. I’m looking to buy some land, get the taxes caught up on it. How do I get this list of people that are behind on their taxes?” It’s that simple. Any questions so far with that?

Tracy Krol:
Is this list available in every state the same way, or does it matter who you go through? Is it available for everyone?

Brent Bowers:
Amazing question. So there’s over 3,100 counties in the United States. So some counties probably won’t even have it available. Most counties will, 99% of them will, but you might have to talk to a few people to get. So here’s the thing. If the county’s that difficult to deal with, next, choose another one. That’s one thing I recommend and I have some other suggestions for that as well, and I kind of get into it in the course, as well as I’ll coach you through that as we go. But I want you to focus on one list first and that is this gold list, the tax delinquent list, because you will find the most motivated sellers on this small list. The ones that are that the ripest fruit, or the low hanging fruit, whatever you want to call it. So sometimes it is a little difficult to get and that’s where you have to talk to a couple people.
And if they say they don’t have that list, then I like to ask, “Okay, do you guys charge property taxes in your county?” And if they say yes, then there is a list. They’ve got to keep track of these people that are not paying and are paying. Does that make sense?

Tracy Krol:
It does. Thank you.

Brent Bowers:
All right. Those are the two action steps today. Pick your playground, give yourself 24 hours to do it. And then after you’ve picked your playground, time to contact the county treasurer. And I gave you another 24 hours to do that. So basically all this within 48 hours. Not a lot of action steps, I don’t want to overwhelm you. I know you have a very demanding job already, so we’re going to do this one step at a time, keep it slow and steady and keep moving forward. Any questions with that?

Tracy Krol:
No, I’m excited to get these action sets going and move forward. Yeah.

Brent Bowers:
Just remember blind faith, get uncomfortable, keep that goal in front of you of $10,000 per month, September 1st, and you’re going to be spending way more time with friends and family in Florida flying first class.

Tracy Krol:
I like it. This sounds awesome.

Brent Bowers:
All right, Tracy. Thanks for taking the time today. I’ll see you on the next call.

Tracy Krol:
All right. Thanks Brent.

Brent Bowers:
Talk to you later. Thank you.

Darrin Bentley:
Okay, I really hope you enjoyed that episode. Be sure not to miss the next episode where we are going to learn if Tracy actually did the action steps that Brent laid out in this episode, and see just how much further along she is. Bottom line, Tracy is ready for a real change in her life, and I believe that she’s going to totally crush this. So I’m really excited for her. So we’ll see on the next episode.

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