“My First Real Estate Transaction using Jack Bosch’s Land Profit Generator”

I purchased the product in late November 2009.
I quickly jumped into it. I live in Connecticut.
I called a few Towns in my area and got few
ax Delinquent property lists, nearly free of charge.

I went through these Tax Delinquent lists looking
for out of state owners of vacant land. I found about 10.

I sent out 10 letters using Jack’s letter format.
I got calls from 3 owners. Out of the three callers,
one seemed the most motivated and easiest to deal with.
So decided to focus on this one.
It is a two acre parcel of raw land that is in a rural
area/suburban area which is not directly on a paved road
but had access to a paved road via a narrow wooded passageway,
allowing enough space to put in a long driveway.

Most of the 2 acres was behind the first row of lots,
which were on the main road.
After doing some comps, I conservatively came up with
a value of no less than 25K. If a driveway was put in,
utilities in, and successful perc test done, and this and
this became an approved building lot, this land could
potentially be worth over 70K.
However, I was not interested in developing this land.

The owner was a lady who inherited the property
and lived in Massachusetts. She also owed about
$1600 in back taxes and was not interested in
paying tax on property that she had no use for.

I first offered her $2500. She countered with $5000.
I told her that I did not have that much money and
the most I could scrape up was $3500. She agreed.
I put the offer in writing. In the meantime,
I decided to put a free ad in Craig’s List.
The ad said two acres in the countryside for $10K.

I got several calls. One particular guy seemed to
have cash on hand and was ready to pay $10K cash.
I told him that I had the land under contract
for $3500 and there was about $1600 in back taxes
and if he gave me $4900, I would assign
the contract to him.

He agreed to pay me $4000 for the contract.
His net cost for the property was
$3500 (To original owner) + $1600 (Back Taxes)
+ $4000 (To me) + $800 (Title Company) = $9900.
So he was happy.

And I was happy because I had almost no
out of pocket expense and I made $4000
in about 2 weeks!

Thanks very much Jack,

Alex Roy.”