We have a special episode prepared for you today. On this podcast (and all the other podcasts you listen to), we’ve had so many people talking about wholesaling, flipping, mobile home parks, apartment buildings, and multifamily investing. But this guy on the episode is in a space that you might have never even heard of before! Join our host, Vee Khuu, and the “Land Guy” himself, Jack Bosch, as they dive deep into the world of selling land! This particular niche is something that not a lot of people are talking about. Somehow, this business has gone under the radar to many people despite it being easy and lucrative! Jack’s students use an effective program to profit handsomely and enable them to venture into other passions or businesses. So, make sure to stay tuned, and enjoy the show here on the Real Estate Lab!
Why Choose Land?
To show you how easy selling land is, let’s take a look at Jack’s story. In case you’re wondering, Jack Bosch did get into the real estate game because he and his wife hated their job, like everyone in the space. With no knowledge about houses, construction, repairs, or rehabs, they had to find people who knew how to do things for them. That part of the process made it a little more complicated than usual. Add to that the stresses of beating the competition, finding deals, sending direct mail, driving for dollars, and all these things. It started to look like things were not going to work. Jack and his wife then thought of getting in touch with people that owed property taxes, thinking that some of them might just want to get rid of the properties to avoid tax. So, after sending letters to 400 people who fit the criteria, they got answers! One of the people they connected with was someone who didn’t have things going well for him. He had a terrible experience that left him scarred and traumatized. To make the story short, he was ready to take on any offer because he didn’t care about this property anymore. So, Jack offered him $400, and he took it! To complete that story, while Jack was putting up the sign, the neighbor from across the street comes along and offers him $4000 for it! While that wasn’t a massive amount of money, it was ten times the money spent to buy it. Because everything went so smoothly and Jack didn’t want to bother himself with rehabs and repairs, he found his love in selling land.
Seller Financing at Its Finest
If Jack’s story isn’t enough to convince you, look at one of the ways he gets the job done. When trying to sell a piece of land, let’s say, something worth $40K, he would offer someone tp buy the property on seller refinancing with a 15% downpayment ($6000) and make monthly payments of $600 over the next eight to ten years, with the usual interest rates of ten to twelve percent. The big surprise for us is that Jack bought this piece of land for $5000, and someone’s paying $6000 as a downpayment. You’ve already won at the beginning, and you’ll win even more with monthly payments accumulating in the future!
These are just a few of the things selling land can offer. Did you know that in this venture, you could avoid Dodd-Frank regulations and the IRS? Head on over to the podcast now to learn Jack’s secrets!
We bought this property for five, but we’re getting a down payment of six. We’re really getting more as a down payment than it actually costs us to buy the property! – Jack Bosch. Catch the latest episode from the Real Estate Lab Podcast! https://bit.ly/RealEstateLabPodcast
About Jack Bosch:
Known as “the Land Guy,” Jack Bosch is a real estate investor, educator, husband, and father. Originally an immigrant from Germany who came over with just 2 suitcases and a bunch of student debt, Jack (with his wife Michelle) have found their niche in Real Estate. Since 2002, they have been buying and selling lots and unimproved land and have flipped more than 4,000 transactions. It only took them 18 months to go from Zero to $1M. Since 2008, Jack and Michelle also have been educating those who either find houses too challenging or are unsatisfied with the competition and teaching them how to make more money from simple land and lot flips. Plus, they have figured out a way to make land cash flow massively and consistently with checks coming in for years and even decades.
In addition to land flips, Jack and Michelle also own a portfolio of rental houses, commercial properties and even large apartment buildings. However, land and lots is their first passion because as Jack says there are no “Tenants, Toilets and Termites” on land, which really means no repairs, no inspections, no mold, no contractors. While still flipping over 100 properties a year, they now spend 2-4 months a year traveling the world with his family. They designed their business to fit their lifestyle, and the cash and cash flow from the business and investments allows them the luxury of living life on their own terms.
Jack is also a #1 bestselling author of the financial literacy book “Forever Cash, break the earn-spend cycle, take charge of your life, and build everlasting wealth and hosts the successful podcast “Forever Cash Life – Real Estate Podcast”
Outline of the Episode:
- [05:44] Honduras versus Germany. Who would win?
- [07:01] Coming to the US from Germany in 1977 and falling in love with the mentality.
- [08:50] Buying a piece of land for $400 and selling it for $10K!
- [14:16] What do his buyers do with the land they get? They’re usually the same as him!
- [18:53] Selling land and different exit strategies.
- [20:58] Double closing, assignment, and wholesale deals. Getting profit just from downpayment!
- [26:12] Dodging Dodd-Frank regulations and the IRS!
- [30:44] Taxes paid when selling land and strategies you can use to your advantage.
- [34:16] Figuring out the value of a piece of land.
- [39:46] Assessed Values and the math behind a property’s worth.
- [42:10] Not having to do a lot of due diligence.
- [48:51] Minimizing your efforts and costs by having the buyers conduct the surveys.
- [51:46] A typical conversation with a seller. People who inherited land versus people that know everything about the property.
- [54:56] Different reactions to getting low offers, and Jack sending them another letter in six months!
- [56:55] Junk lands exist! How can you make sure you don’t buy worthless land?
- [59:20] Remember, you don’t need the money for the deals! But how much money do you need for the other parts of the business?
- [1:02:17] Response rates? What matters is how much you make for each response!
- [1:03:57] Follow your own system! Don’t get overconfident.
- [1:06:06] The Forever Cash Hall of Fame? How can you get into it? Facebook Groups with international members!
- [1:11:33] Books and resources. Get rid of the excess things in your life and focus on the important things!
- [1:13:55] Life is not meant to be lived small.
- Jack’s Facebook
- Jack’s Twitter
- Jack’s YouTube
- Jack’s Instagram
- Jack’s Website
- Land Profit Generator
- Email: JackB@orbitinvestments.com
Connect with Vee Khuu!