Jack (2nd from Left), Reneé (navy shirt) - Platinum Group Field Trip - 5/09

Okay, here are the details of my first property sale and PROOF to show you that Jack Bosch’s Land Profit Formula / Land for Pennies / Land Profit Generator system works!  Here’s a Jack Bosch student testimonial – apply these techniques and YOU can get out of the rat race!

Reneé Story: Let me begin by saying I’m probably like many other real estate investors.  I’ve purchased TONS of books and tapes (that sit on the shelf for the most part), I’ve attened MANY seminars, and spent LOTS OF MONEY on top name/company products and coaches.

What I generally learned through all of that was:  “Yuck.  I don’t want to do any of those strategies”. I didn’t want to rehab homes, OR do sandwhich lease options OR be a note buyer OR buy mobile homes, OR do short sales OR foreclosures. So what was left? I thought about investing in tax liens/deeds so that indirectly lead me to Jack Bosch.

I first learned of Jack Bosch’s Land Profit Formula home study course about this time last year.  I purchased his program and diligently listened to his CD’s, then I went to his free weekend seminar in Phoenix, AZ to get an even closer look, and there I purchased his Platinum Membership which was open to 15 (I think) students and provided closer access to Jack and included field trips (see above picture).

Throughout this first year I have been setting up the “infrastructure” of my new business (established an LLC/bank account, websites, learned how to mail-merge, found an awesome title rep who gave me access to property reports, learned about social networking, and a tiny bit about internet marketing (SO much to learn), networked with other investors (which by the way is key – don’t be afraid to talk to one another and share information!)

My Statistics: I’m a process-oriented person so I diligently followed Jack’s steps.  Here are my personal results while working at this part-time (I have a full time job):

  • I mailed approx. 900 letters to California property owners in San Bernardino & San Diego counties
  • I received approx 56 call backs, or about a 6% response rate from owners who wanted me to make them an offer
  • I sent out approx  44 offers
  • I received 6 acceptances (it’s really shocking and exciting to have a signed sales agreement show up in your mail box!)
  • I ended up closing on only 2 of the 6 acceptances because further due diligence showed that I had either over-offered, or the property was in a wash or something)
  • I paid less than $3,700 for my first property and it is on the market for $9,000 so I should double my money on this one.
  • I paid less than $27,000 for my second purchase of SIX parcels totaling 53 acres.
  • I just sold two of those parcels for $60,000, and netted almost $54,000, twice the purchase price for all six! (see the check below). The remaining four parcels are on the market for $90,000.

Another way to look at my first sale:  The net of my $54,000 nearly made me whole for the entire year’s worth of expenses, including the purchase of 7 properties, setting up the LLC, educational costs, supplies/postage, travel, attorney for contract review, etc.  The sale of the remaining 5 properties will be pure profit. Exciting, huh?  I think so.

Don’t get me wrong.  This is not a “Get Rich Quick” thing.  It takes work.  But it works! As Jack points out, it’s a number’s game.  Letters = Offers = Acceptances. Learn the machine and keep the cycle going.  As Jack is famous for quoting:  Get in Line & Stay in Line! It will happen!  Persevere!

Do you know anyone who could use some extra cash in today’s tough economy? I’m not an internet marketer and I don’t even know if this blog is being seen by anyone, so if you have any real estate-minded friends, please forward this to them. And, please be sure to enter your email address at the top of this page so that you can stay connected to all the latest launch details. Thanks for listening Ü