Jack Bosch's Land Profit Generator?

[Ivan Jouikov]

Anybody heard of it? Here's the concept:

1) Buy cheap land for pennies on the dollar by building (on twitter/facebook) and advertising to a targeted seller list.

2) Flip quick as "wholesaler" to a buyers list.

3) Offer seller finance (when wholesaling) to build cash flow.

Sounds like it has promise, but the "home study course" runs $1500.

[Adam Harrison]

I have Jack's system and it is definitely a workable system. I purchased it and have since have purchased various parcels for pennies on the dollar. However, having said that, one criticism I have of Jack's system and in fact all of the systems that the other real estate gurus promote, is the amount of effort is GROSSLY underestimated. The amount of effort that Jack and many other gurus say it will take before you close your first deal is absolutely not even close to how much effort it will take. Not even close. If you work this business diligently, several hours a week and send out mailings regularly (I sent out a few hundred postcards / letters each week), you will get a handful deals not in weeks, but in a few months.

For example, using Jack's system as a model, I started my land flipping business in January. I purchased my first property in May (and yes, I worked the system diligently, several hours each week, from January to May and sent out thousands of letters / postcards in that time). In the next couple months after that I purchased three more properties. Now I am working on selling them. The good news is I have almost completely figured that out, I have a number of people interested in my parcels, but it is nearly October and I started this business in January. Again, I'm not angry with Jack, I greatly admire and respect Jack but I do have to say that this idea that you are going to send out a few hundred letters and get some deals I have not found to be accurate. I have also not found it accurate to say that anybody could start this business with only a few thousand dollars. Heck, I probably have spent a few thousand in marketing alone, much less the amount I spent for the properties.

See, something to keep in mind, is that if investing in real estate was really as easy as the gurus say, everybody would be doing. It requires a lot of money and a lot of persistence. In fact, more persistence than most average people have. That is why there are so few successful real estate investors compared to the number of people starting investing businesses.