Bgsi Coaching

One of the Best Investments on Earth is Earth

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One of the best investments that we’re always told about is real estate.  Owning land has always been one of those generational wealth builders and so it probably makes sense for everyone to at least know of options when it comes to owning land.

Sometimes, owning undeveloped land and holding onto it for a while can be a big gain and that’s where my guest, Brad Warren comes in.  Brad has been helping people purchase land in the LA area of California and helping those people build wealth.  As with all investments though, it is incumbent on you to speak with a qualified advisor who can give you specific information as it relates to your own situation.

About Brad: Brad Warren was a national and international speaker, author, seminar leader, and business coach.  He traveled to 19 foreign countries and 27 of the United States over the last 40 years, teaching a wide range of business courses, including time management, communication skills, lead generation, and negotiation skills.  He’s also coached over 500+ business owners on goal setting and accomplishment, business planning and implementation, and how to be more effective and productive.  He is the 2014 recipient of the Bay East Association of Realtors Affiliate of the Year award and the author of Just Sold! The Real Estate Professionals Guide to Selling More in Less Time.  He’s spoken at the National Association of Realtors 2016 and 2017 Annual Conventions on Time Block Your Way to Success with Less Stress! and he’s also certified to teach The ONE Thing, based on the national best-seller of the same name by Gary Keller and Jay Papasan.  After 40+ years as a business coach, speaker, and trainer, Brad transitioned to a new career as a land banking consultant, helping patient investors build generational wealth by investing in land.

Connect with Brad on Facebook, LinkedIn and on the web at https://www.bradwarren.com

Transcript (auto-generated; may contain errors):

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Jennifer Glass: Hello and welcome to another episode of MOJO: The Meaning of Life and Business.

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Jennifer Glass: For a lot of people, we think about what

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Jennifer Glass: our future is going to look like we think about creating wealth that we are going to have to enjoy later in life.

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Jennifer Glass: We think about creating wealth

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Jennifer Glass: that can leave a legacy.

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Jennifer Glass: Sometimes we think

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Jennifer Glass: we have to build up a business that’s going to be sold so we can have that generational wealth.

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Jennifer Glass: Sometimes we think real estate. We’re going to buy our helps, and it’s going to appreciate.

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Jennifer Glass: and we may go there

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Jennifer Glass: and then there’s other times when some investors understand the value

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Jennifer Glass: of investing in land.

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Jennifer Glass: and how you can start seeing land grow as a way to actually invest in a real estate

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Jennifer Glass: and get future wealth

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Jennifer Glass: as the land appreciates in value.

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Jennifer Glass: There are many areas in this country where land is still undeveloped

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Jennifer Glass: or underdeveloped

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Jennifer Glass: that we can take advantage of. So I have a great guest on our show today. Who’s going to tell us more all about land investing, and how we can

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Jennifer Glass: possibly take a page out of his book

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Jennifer Glass: and start figuring out how we can grow from here.

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Jennifer Glass: Brad Warren is a land banking specialist who helps patient investors diversify their portfolios by investing in land to build generational wealth.

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Jennifer Glass: Brett. Thank you so much for being on the show.

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Brad Warren: Oh, thank you for having me.

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Jennifer Glass: Thank you. So, Brad, let me ask you

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Jennifer Glass: just that we’re clear. What exactly does land banking mean?

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So

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Brad Warren: land banking is the process of buying

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Brad Warren: affordable land

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Brad Warren: strategically placed in the path of growth.

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Brad Warren: People can buy affordable land, you know, out in the middle of the boondocs.

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Brad Warren: and if there’s no growth coming, the

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Brad Warren: land’s not going to appreciate in value.

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Brad Warren: So we help our investors through

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Brad Warren: process that we go through. We find land that’s

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Brad Warren: affordable, and in the path of growth we sell it to our investors they hold.

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Brad Warren: and then they plan their exit strategy which is to sell that land to a developer

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Brad Warren: who wants to build a solar farm, a shopping center, 500 houses or some big project like that.

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Jennifer Glass: So if somebody worked to look at getting involved with you

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Jennifer Glass: as part of the land banking.

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Jennifer Glass: what kind of first of all, investor

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Jennifer Glass: should somebody be? Let’s start qualifying

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Jennifer Glass: If somebody wants to get involved, how would we start understanding?

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Brad Warren: Yeah. Great question. I have 3 criteria.

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Brad Warren: They have to be nice.

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Brad Warren: They have to be patient.

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Brad Warren: and they have to have a minimum of $25,000

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Brad Warren: in investable funds.

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Brad Warren: I can be cash

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Brad Warren: that could be a self directed IRA. A dorm in 401

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Brad Warren: a 1031 exchange.

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Brad Warren: but they’ve got to have the money ready. I usually don’t talk to people unless they’re ready to invest, but they also have to be nice and patient. We tell our investors 7 to 10 years

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Brad Warren: is the average hold time

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Brad Warren: that you’re going to just sit there and wait for that development to come to you. You don’t put it for sales. Sign up Jennifer and say, Hi, I’ve got an acre. All I want to.

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Brad Warren: You buy the land, and then you do nothing. It we call it. Set it and forget it. Real estate investing.

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Brad Warren: You. Just wait

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Brad Warren: for the developer to come to you, because then you know, they need your land because they want to build something big, and you’re preventing them from doing that, even if you just own one acre

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Brad Warren: in the middle of the 100 acres that they want.

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Brad Warren: they can’t build until they get your acre.

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Brad Warren: and so it it provides what we call generational or legacy Wealth.

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Brad Warren: usually in the 3 to 7 X.

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Brad Warren: Return rate 3 to 7 times. Your investment

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is what you should expect again.

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Jennifer Glass: So

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Jennifer Glass: if we’re looking at

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Jennifer Glass: the advantage of buying land

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Jennifer Glass: verse buying real estate in general.

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Jennifer Glass: Is there a particular

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Jennifer Glass: advantage over buying land, then? Regular real estate? I mean real estate. We understand it appreciates quicker and value because location, location, location.

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Jennifer Glass: But what is the advantage, if any, where land would be more valuable than

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Jennifer Glass: a house that’s on a piece of land

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Brad Warren: for buying a farm, or what happens?

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Brad Warren: Right great question.

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Brad Warren: Well, some people don’t want to get involved with what we call tenants, toilets and termites.

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Brad Warren: You don’t want to buy a single family residence and have to deal with

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Brad Warren: the taxes. And the tenant, you know, calling. Oh, the pipe broke, or I had one of my rentals.

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Brad Warren: The washing machine flood at the basement.

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Brad Warren: Fortunately I had insurance

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Brad Warren: for the $5,500 that it cost to get it all fixed except for the $600 to buy a new washer which I have to pay for.

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Brad Warren: and that’s a headache.

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Brad Warren: So some people don’t want to have to deal with that.

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Brad Warren: as you said, location location location. And you know, interest rates are impacting the value right now in terms of people moving.

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Brad Warren: Some areas appreciate more than others. Some areas depreciate.

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Brad Warren: We had some, you know. Look at the the great recession.

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Brad Warren: Housing prices and housing value

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Brad Warren: went down. You know what? 20, 30, 40%,

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Brad Warren: and took a while for it to come back up again.

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Brad Warren: So there’s a lot of fluctuation land doesn’t operate in the same way

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Brad Warren: that a building

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Brad Warren: or a a triplex, or a duplex, or a single family residence, or a

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Brad Warren: storage facility.

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Brad Warren: Doesn’t operate under the same principles.

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Brad Warren: So you’re basically if you’re a lazy investor.

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Brad Warren: and you don’t want to do anything you just want to buy it.

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Brad Warren: and then once a year pay your property taxes, which, by the way, are very low, especially in California, because of Proposition 13 which I won’t go into that big, long explanation. People can just Google it.

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Brad Warren: But you can see the Proposition 13 keeps our

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Brad Warren: taxes very low.

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Brad Warren: and because there’s no building on the land, it’s assessed at a very low price to start.

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Brad Warren: So your initial tax is very low, and it can only go up 2% a year. So let’s say you pay a $100 a year in tax. The first year you pay a $102 the second year.

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Brad Warren: So in that 7 to 10 year, whole period you’re holding costs you’re carrying costs

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Brad Warren: for owning the land

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Brad Warren: very inexpensive. You buy a single family residence.

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Brad Warren: and you’ve got a 3,000 $4,000 a month mortgage payment which is due every month, whether your tenant pays you or not.

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Brad Warren: You could be in hot water if they

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Brad Warren: cut out of their lease early

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Brad Warren: or just don’t pay which a lot of people did when Covid hit

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right.

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Jennifer Glass: So excuse me as we’re looking at the

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Jennifer Glass: benefit of buying land. One of the things that a lot of people understand. I buy a house.

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Jennifer Glass: I have to get it inspected

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Jennifer Glass: when you’re buying land. Is there any similar inspection need at all? And again, there’s no structure to inspect. But do we need to know that it’s not a swamp, or it’s not

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Jennifer Glass: a you know asbestos underneath, whatever it is that’s there.

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Brad Warren: Yes, absolutely. You need to know that, and our company is unique

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Brad Warren: in that we have something we call it the 16 point comprehensive analysis.

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Brad Warren: So we have a research and acquisition department.

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Brad Warren: And right now, as you and I are speaking.

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Brad Warren: all they are doing

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Brad Warren: is looking at land

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Brad Warren: in the area where we invest.

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Brad Warren: which for the people that can actually see. I’m. Pointing to a map of California. It’s a 60 mile radius around downtown LA.

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Brad Warren: That is the only place in the United States of America that we invest.

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Brad Warren: There’s 10 reasons why which I won’t go into unless you ask me.

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Brad Warren: But back to the land. So the Research and Acquisition department has a checklist of 16

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Brad Warren: comprehensive points.

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Brad Warren: Is there a sensitive environmental area nearby, like a red toad or a, or a tortoise that would prevent development. Is there an easement that runs through the property that renders it undevelopable? Is there a buried gas tank from a gas station that was there 50 years ago that nobody remembers except us.

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Brad Warren: We do the research.

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Brad Warren: We have maps that the city and county of Los Angeles don’t even have.

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Brad Warren: We have maps on microfiche. I don’t know you. I don’t think you’re old enough to to know what that is, Jennifer, but some people that I’ve spoken to. I say microfish, and they look at me and they

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Brad Warren: what the heck is that

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Brad Warren: it’s not a floppy disk. I know it’s even before that. That’s it. Put it on a overhead projector, and you project it onto a a screen, and it’s a little piece of film that’s, you know, maybe 6 inches by 16 square, but it has hundreds of maps on it

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Brad Warren: which show us these easements. From 80 years ago, 50 years ago.

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Brad Warren: that

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Brad Warren: the city and county of Los Angeles Don’t even have

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Brad Warren: they actually call us when they have a land use issue.

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Brad Warren: and they’re about to buy property themselves or build on it. They’ll call us

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Brad Warren: to to have us consult with them about the develop, the developability of that land.

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Brad Warren: So if we don’t get 16 yes, checkmarks, we reject that property. We don’t even touch it.

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Brad Warren: and we actually literally reject 29 out of every 30 that we look at

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Brad Warren: the one that meets our criteria.

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Brad Warren: that then we make available to our investors.

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Brad Warren: so we do an incredible amount of what’s called risk mitigation.

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Brad Warren: We’re due diligence

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Brad Warren: to remove as much risk as possible.

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Brad Warren: Of course, investing in any real estate. There’s always some risk.

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Brad Warren: Our job is to reduce that as close to 0 as possible.

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Brad Warren: In fact, we say the biggest risk in land. Banking is you the investor.

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Brad Warren: getting impatient and not waiting for the developer, and wanting to offload your land sooner than

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Brad Warren: you should. It’s like drinking a wine that Hasn’t reached majority. It might taste. Okay, but it’s not going to taste great unless you leave it for

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Brad Warren: or 30, or whatever number of

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Jennifer Glass: thank you, and

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Jennifer Glass: that probably makes a lot of sense when you think about what your

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Jennifer Glass: time horizon is, what you really need to know in terms of particular deal and things along those lines and the microfish. It’s just really interesting when you think about from that perspective

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Jennifer Glass: libraries that still have not digitized newspapers for many years before.

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Jennifer Glass: That’s where you would find a lot of that information.

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Jennifer Glass: and in college, and my polyside is

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Jennifer Glass: I needed a lot of microfiche research. So I’ve got enough

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Jennifer Glass: experience there. But yes, thank you very much for the I’m not

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Jennifer Glass: old enough to know what that is. So thank you.

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Brad Warren: I actually is it? Well, I’m 72. So I go back a ways. We use microfiche in high School to do a lot of our research. We literally went to the library, sat down in an overhead projector, pulled out the film, slapped it on the on the projector and projected it on a screen. And that’s how we did a lot of our research

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Brad Warren: that so it goes. It goes back. I have a little bit of history there.

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Jennifer Glass: right?

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Jennifer Glass: So, Brad, let me ask you.

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Jennifer Glass: how did you end up getting involved in the land banking

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Jennifer Glass: industry?

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Brad Warren: Quick, short story.

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Brad Warren: I do a quarterly network statement in doing it since March of 1989, when I met my at that time fiance and

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my wife and I

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Brad Warren: quarterly network statement every quarter. Since then 1981

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Brad Warren: on December 31 2011.

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Brad Warren: I looked at the numbers and had a an Aha, an epiphany.

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Brad Warren: an inflection point

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Brad Warren: I realized I could not retire.

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Brad Warren: My wife had a 401K. She had enough money. She could retire if we pulled our money together we both could retire; but if I was a single person at that time I had not amassed enough retirement funds to be able to retire.

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Brad Warren: and at that point I think I was. I was 60 years old at the

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Brad Warren: so I called my land banking consultant, Marcella Silva, who is now my business partner.

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Brad Warren: She came to the house with her laptop.

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Brad Warren: Did her presentation

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Brad Warren: just like she would if if we were, you know.

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Brad Warren: interviewing her as a as a listing agent to sell the house. He came over and did a presentation very similar, and my wife got up and said, No, thank you.

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Brad Warren: Sounds too risky. Sounds like speculation. I don’t quite get it. I don’t want to wait 7 to 10 years. Walked out of the room. I turned to Marcella. I said.

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Brad Warren: I want a piece of land, because there’s no other way. I’m going to build wealth fast enough.

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Brad Warren: so I bought that one.

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Brad Warren: I got a second one a year later.

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Brad Warren: a third one a year later.

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Brad Warren: Finally, a year later, my wife comes to here, Marcella, present at a hotel. You know how they have these seminars and stuff, and all the investors bring their friends to find out about land banking.

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Brad Warren: Introduce them to Marcella. So my wife says, okay, I I want to go. Listen again. Maybe I miss something because you seem to be pretty active, and you seem to be buying you already bought 3. But i’m not going to buy the whole way in the car, Jennifer. She’s going, but i’m not going to buy. I just want to learn.

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Brad Warren: Well, we get there. She listens. She buys 2 properties. Reckon Terry not tell whips out her checkbook. I I know the whole way in the home in the car. I’m going. I thought you weren’t gonna buy what happened, and she’s all shut up. I get it. I understand it now.

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Brad Warren: So that was my introduction, buying my first property, and my wife got involved, By the way.

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Brad Warren: for 5 years of us buying properties we now own 11. By the way.

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Brad Warren: Case, people want to know, do you have some of your own money in land, Brad. Oh, yes, we do about one-third of our actual full Portfolio is invest in Atlanta.

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Brad Warren: I became a finder, which is a referral partner.

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Brad Warren: and I was referring all my friends to Marcella, and I was getting these finder feeds. It’s 2% of the purchase price.

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Brad Warren: So Marcella was sending me, you know, $800 here, $1,200 there. My biggest one was $7,500.

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Brad Warren: That was for one person that I refer. They bought this gigantic property, and I made $7,500,

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Brad Warren: so i’m making money. Referring people. Finally

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Brad Warren: I became. I got my real estate license.

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Brad Warren: and this month actually February ninth. So let’s say this one week from today will be the 15. I’ll be starting my sixth year as a land banking specialist working for the company called the Lower Enterprises with Marcel as my business partner. And now i’m selling the land, and I’m finding finders who will now send people to me.

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Brad Warren: and I will pay them to 2%.

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Got it.

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Jennifer Glass: So, Brad, let me ask you one of the things we were talking about in the greener before we

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started recording our show Today

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Jennifer Glass: was the idea of what your experience was at the Woodstock Music Festival.

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Jennifer Glass: and what help to ultimately, I guess, shape some of who you are

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Jennifer Glass: and how you kind of progress through your life to this moment.

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Jennifer Glass: Can you share with us a little about

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Jennifer Glass: that experience and the interesting.

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Jennifer Glass: as you say, the happy, ‘funny thing happened on the way to the Forum’ moment?

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Yes.

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Brad Warren: Well, Jennifer, I have to say that, due to the amount of drugs that I consumed, I don’t

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Brad Warren: remember anything about the entire weekend.

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Brad Warren: No, no, no; I’m just kidding

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Brad Warren: about the remembering part.

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Brad Warren: The other part is apparently true. So yes, it was in Aug. Actually hold on 1 s

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hi to me

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Brad Warren: in case people ever doubt me.

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Brad Warren: I know your podcasters cannot

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Brad Warren: see what i’m showing, but these are 2 of the tickets from Saturday, and Sunday, August 16th, 1969 and August 17th, 1969. You see $7.

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Brad Warren: You see Woodstock Music and Art Fair.

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Brad Warren: I actually saved my tickets because the fences were all down.

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and they had 400,000 people there.

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Brad Warren: and they weren’t collecting any tickets. So I saved them laminated and

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Brad Warren: and held on to.

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Brad Warren: So yeah, I lived in great neck New York at the time

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Brad Warren: Woodstock Music and Art

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Brad Warren: Festival was, or they they called it, was in upstate New York, about 3 h away.

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Brad Warren: got into my 1961 Morris Oxford car that I had gotten you know when I turned 18,

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Brad Warren: actually got it when I was 17, because you can.

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Brad Warren: get a license in New York at that time. It’s at me and took my 16 year old brother, and we drove up there, picked up a couple of hitchhikers on the way.

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Brad Warren: and we stayed there from Thursday afternoon until Monday afternoon.

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Brad Warren: in inviting certain things, and having one out of an incredible experience, listening to amazing bands.

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Brad Warren: little hard to see because we were pretty far back.

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Brad Warren: But that that actually influenced my decision to eventually move to California.

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Brad Warren: which I did

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Brad Warren: 1975,

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Brad Warren: because I always wanted to be in the land of Jerry Garcia and Jefferson Airplane. Not the Jefferson Starship. It’s the Jefferson airplane. Sorry, folks.

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Brad Warren: i’m from another generation.

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Brad Warren: But yeah, it was a pretty incredible experience. And I don’t think I want to say anything else that’ll get me into legal trouble.

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Jennifer Glass: Got it.

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Jennifer Glass: So

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Jennifer Glass: let me ask you, as we’re looking forward in

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Jennifer Glass: time.

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Jennifer Glass: Say 5 years from now.

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Jennifer Glass: Do you think that land is going to be any different in terms of the expected return? Is it going to be more of a premium

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Jennifer Glass: about the same.

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Jennifer Glass: just to have some sort of an idea where things are going. Of course it’s not a crystal ball. It’s only one man’s opinion, but

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Brad Warren: great question. And we’ve actually asked our CEO something very similar to that.

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Brad Warren: How much more time do we have to sell the land? One thing I can tell you, and I don’t need a crystal ball.

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Brad Warren: The land will be more expensive 5 years from today.

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Brad Warren: It is a finite resource, and everybody knows economics 101.

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Brad Warren: The less you have of something the more valuable it becomes.

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Brad Warren: So the land where we invest

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Brad Warren: again that 60 mile radius around downtown LA is disappearing at an incredibly rapid pace.

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Brad Warren: partly because of State law.

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Brad Warren: A lot of people don’t know about Senate Bill, 100 signed by Governor Brown, but he was still in office in September of 20. Excuse me, October of 2018 became law, January 1st, 2019.

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Brad Warren: It requires the State of California

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Brad Warren: to get all of its electricity

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Brad Warren: for buildings and homes from renewable sources by 2045.

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Brad Warren: That is a State law

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Brad Warren: we’re currently around 35,

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Brad Warren: and most of that is from solar.

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Brad Warren: Well, we’ve got a double triple that I mean we gotta get

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Brad Warren: 65% more of our our electricity for buildings and owns

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Brad Warren: in the next 20 something years.

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Brad Warren: and it’s taken more than 20 years, just to get to 35%,

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Brad Warren: and it’s not going to come from biomass. It’s not going to come from

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Brad Warren: hydro. It’s not gonna come from Well, it can’t come from nuclear because that’s not renewable. It’s gonna come from the sun.

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Brad Warren: And so the land, most of the land that I sell is actually for solar farms.

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Brad Warren: These gigantic 1,000 acre, 2,000 acre solar farms built by the energy companies, because if they don’t meet the State mandate, they’re going to be fine tens of millions of dollars per year for not having reached that goal.

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Brad Warren: And oh, by the way.

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Brad Warren: what about all the electric cars?

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Brad Warren: Yay, Elan and your Tesla, and your electric buses and your electric trucks.

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Brad Warren: Electric trucks consume it. It takes as much electricity to power an electric truck for for an hour as it does to light up 700 homes

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Brad Warren: for a day. I mean it’s ridiculous. They they consume inordinate I. I may have the numbers a little off, but it’s ridiculous.

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Brad Warren: So we’re just talking about homes and buildings. We’re not even talking about all the electricity needed to power electric vehicles of which there are millions in California, and there will be tens of millions in the coming years.

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Brad Warren: so

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Brad Warren: yes, there will be some land, but it’s going to be way more expensive, harder to find.

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Brad Warren: It’s Got to meet our 16 point criteria. We’re not going to relax, though, that

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Brad Warren: the any of those, because then we’re not sure that it will be. You know something that the developer will want.

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Brad Warren: So my fingers crossed. I’ll be around maybe another 7, 8 years selling land, and after that I don’t know what’s gonna happen.

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Thank you.

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Jennifer Glass: Brad, what is it that makes you

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Jennifer Glass: get up every day; what

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Jennifer Glass: makes you tick?

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Brad Warren: Oh.

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that’s an interesting question.

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Brad Warren: I love life.

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Brad Warren: I love my life I actually have a t-shirt that says I love my life on it.

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Brad Warren: I,

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Brad Warren: as I mentioned, i’m 72

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Brad Warren: Im in very good health.

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Brad Warren: Got lots of money in the bank, a roof over my head.

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Brad Warren: food in the refrigerator, gas in the car.

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Brad Warren: an incredible wife for 33 years of I won’t say it’s all been wedded bliss. We’ve had our ups and downs, but right now we get along better than we ever have.

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Brad Warren: I have a 30 year old daughter, that I love immensely

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Brad Warren: who lives nearby.

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Brad Warren: By the way, she’s single any if your listeners out there looking for a gorgeous young lady.

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Let me know.

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Brad Warren: Oh, she’s probably gonna kill me for saying that. I hope she doesn’t watch your show. I love what I do. I don’t work.

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Brad Warren: You know what I do is so much fun. It’s not considered work to me. I don’t think I’ve worked the day in my life.

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Brad Warren: I’ve always done what I wanted to do.

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Brad Warren: and I play online poker. I play Texas hold em at my moose lodge.

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Brad Warren: I travel extensively with my wife. We have 7, 8 vacations a year.

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Brad Warren: All of that gets me out of bed, plus. She kicks me in the morning, says, hey, go to work. I’m retired. You gotta keep selling land.

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Brad Warren: but I just. I have a zest for life like I’ve never. I can’t say never had before. I’ve always had, but it gets more and more exciting and zesty

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Brad Warren: the older again.

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Brad Warren: because I realize

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Brad Warren: I am running out of time. I’m not going to live another 100

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years.

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Brad Warren: My goal is to make it to 120,

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Brad Warren: 120 healthy, and with

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Brad Warren: a lot of money is still in the bank.

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Brad Warren: Got to remember those 2 points healthy

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Brad Warren: a lot of money still in the bank.

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Brad Warren: So I still got what? 49 more years

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Jennifer Glass: sounds like a plan

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Brad Warren: actually 78. I just turned 72 cup last month, so I got happy. We got a lot of years left

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Jennifer Glass: right. Our listeners, who have been listening

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Jennifer Glass: I might at this point want to say.

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Jennifer Glass: I want to find out more.

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Jennifer Glass: How can they reach out to you

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Brad Warren: the best way? Jennifer is via email? I respond to all emails within 24 hours, even when I’m on vacation. It’s the only thing I do on vacation workwise is check my emails.

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Brad Warren: and it’s my name

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Brad Warren: Brad

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Brad Warren: at

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Brad Warren: Bradwarren.com. That’s B. R. A. D.

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Brad Warren: W. A. R. R. E. N.

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Brad Warren: brad@bradwarren.com. Send me an email. Please mention where you heard about me, so say I heard you on Jennifer’s show the Mojo show

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Brad Warren: so that I can I always like to thank people

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Brad Warren: and reward them

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Brad Warren: for sending people to me, so I want to know where my investors are coming from.

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Brad Warren: But that’s the best way, brad@bradwarren.com.

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Thank you.

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Jennifer Glass: and

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Jennifer Glass: thank you so much, Brad, for being my guest on the show today.

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Jennifer Glass: I think that

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Jennifer Glass: our listeners definitely got a lot of information out of the conversation that we had.

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Jennifer Glass: One thing that I would say in wrapping up our conversation, is that it really comes down to. What is it that you want to be doing in terms of looking at your retirement

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Jennifer Glass: and that generational wealth

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Jennifer Glass: There’s so many different options out there.

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Jennifer Glass: People talk about buying real estate to rent it.

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Jennifer Glass: You can buy land.

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Jennifer Glass: Brad spoke about the difference between owning land

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Jennifer Glass: and owning a rental property.

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Jennifer Glass: There’s pros and cons on both sides.

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Jennifer Glass: There’s ways that you can be looking at how you figure out where you want to go.

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Jennifer Glass: A good financial advisor should be

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Jennifer Glass: somebody that you’re always in touch with, because they will have more ideas and more specifics to help you figure out where you want to be and where you want to go.

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Jennifer Glass: A lot of people rely on those advisors to really make sure that they’re staying on track for their retirement.

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Jennifer Glass: There’s one retire, one financial firm who has that little green line that you keep going on, and they guide you to where you’re supposed to be going.

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Jennifer Glass: Think about what you’re doing and investing

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Jennifer Glass: in that perspective

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Jennifer Glass: land

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Jennifer Glass: can be a piece of your overall portfolio.

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Jennifer Glass: or maybe can be a little more than just a small piece. But again, remember, diversification is always something that you want to make sure that you’re always listening to.

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Jennifer Glass: Brad said himself about a third of his available

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Jennifer Glass: worth is in land.

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Jennifer Glass: and it’s showing the power of diversification even from the one who’s recommending

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Jennifer Glass: that we go into land banking.

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Jennifer Glass: Make sure that you speak with an advisor

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Jennifer Glass: that you normally would be speaking with.

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Jennifer Glass: So you know exactly how you may want to be proceeding here, but if you do decide to invest in land, and you are interested in investing within a 60 mile radius

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Jennifer Glass: of Los Angeles.

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Jennifer Glass: Brad is definitely somebody that you can reach out to

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Jennifer Glass: and find out what those opportunities are, he said, You have to be nice. You have to be patient.

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Jennifer Glass: and only $25,000 or more in investable assets that you can

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Jennifer Glass: get involved in.

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Jennifer Glass: which may be for a lot of you an easier opportunity.

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Jennifer Glass: Instead of buying a rental home

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Jennifer Glass: and trying to figure out how to make the mortgage with only a $25,000 down payment

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Jennifer Glass: On that note, this has been another episode of MOJO: The Meaning of Life and Business, and until next time here’s to your success.

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