Jack Bosch Land for Pennies

[Glenn D.]

Has Any one Looked over his material??

[Rob Swanson]

Hey, although this post is originally old, I thought I jump in and add a few things as well since there was some recent activity.

Basically Steve is right when it comes to finding the land parcels and motivated sellers. I have done it and actually bought land for under $100 (the price to the seller) plus a couple hundred (or less) to pay-off the tax delinquency.

The initial key is to find areas with plenty of land, i.e. partially developed subdivisions, with plenty of owners that have essentially "given up" on their lots - but the area still has broader appeal - i.e. like the Pocanos (which I don't personally know about) - but imagine it is like a resort type area.

Then, comes the profit strategy. Most land you will buy will be valued say between $1500 and $10,000 and you will pay between $25 and $1000 (low to high on both).

Take an example of a lot that is worth $2500 in the open market. The lot has a tax delinquency because the owner has "written the land off". You offer them $100 and they accept. You pay the $100 plus $200 for back taxes and you own the land for $300 free and clear. So, as noted, you are not buying liens - you are buying the land and taking title.

Now, you market the property using unconventional methods since traditional listing usually doesn't work and then you sell for a down-payment plus payments. You make it really easy for your buyer to buy.

You paid $300 to buy. You sell for $2000 CASH today or on TERM with $500 down payment plus $150 per month for 18 months or a total of $3000.

This makes your offer to sell very compelling - and imagine doing this with 5, 10 or even 100+ lots of land. It's pretty cool.


Hope this helps.