#31 - The Wild Wild West of Mineral Real Estate
Transcribed with NVIDIA Parakeet · Timestamps stay in sync with the live audio
What my mentor said when he hired me on that 2011 was one of the best times in the history of the oil business to be in the oil business, he was right. I grew up in a small town in Midland, Texas, which is actually the oil and gas capital of the world. And I started a company that Buys oil and gas properties the big fish aren't looking at, put them together in a package, and then sell them to the big fish. The big fish. Almost every other country in the world that has oil, the government owns the rights and gets paid for the revenues. In the US, private citizens actually own the rights to the land, and they can be divided up over generations, so there might be hundreds of people that own a small piece of the mineral estate in a particular tract. What we do is basically track those people down, make them lump some offers for the rights to the property in hopes that there might be future drilling in that area.
We were making millions of dollars, including a lifestyle that to ride bikes every day and work out together and go to this office, also clubhouse and spend a lot of time with my kids and my family. We had an eight figure exit. Certainly probably could have had a nine figure exit. People are gonna listen to this and be like, this guy has the best fucking life. Five million is not enough. Ten million dollars.
one or two people in a bedroom actually the threats to these like giant multi-billion dollar companies because you have creativity and you have nothing to lose. Add another zero to that price, buddy. Add two more zero. First. Every week we sit down with self-made millionaires and ask them.
We already have this episode, so unlocking it is cheap and permanent: the full transcript, segment and word-level timestamps, and .txt, .srt, .vtt and word-level JSON downloads, as many times as you like, forever.
No account needed, we create one from your checkout email. With credits it is 1 credit; packs start at 5 episodes for $3.49, and monthly plans are cheaper still.