Manage episode 266354825 series 2610119
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!
Learn how you can 10x your profits in the business of selling land! Listen to the show now on the Real Estate Lab Podcast! https://bit.ly/RealEstateLabPodcast
· Email: JackB@orbitinvestments.com
Connect with Vee Khuu!
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.
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