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Podcast Transcription
Georges El Masri [00:00:00] As always, thank you for tuning in, I’m your host, Georges El Masri, and you are tuning into the well-off podcast where today I interviewed Jack Bosch. He’s the co-founder of Land Profit Generator and also a coach with the land profit coaching program. He works alongside his wife, Michelle, and they’ve completed over 4000 land flips in the Phoenix, Arizona market. They’ve also used the system to create generational wealth for the family. So. On this episode, we talked about wholesaling land in Phenix for about four or sorry, five to 45 percent of market value. They’re buying these pieces of land for huge discounts. We discussed how he’s able to find these deals and the three types of land that they look for. We also talked about who he wholesales the land to and how he creates systems for people to be able to do this anywhere in the world. He even talked about one of his clients being in Germany. So I think you’re really going to enjoy hearing about the systems that they’ve created, like setting up these phone lines, these virtual mailboxes, using mailing houses, all this stuff. So if you do appreciate the episode, I just ask you to share it with a friend and leave us a review. I would love to hear your comments and what you’re thinking. So if you, do it on the iTunes or sorry, the Apple podcast platform, that would be greatly appreciated, make sure to leave us a five star review. So there you have it. Enjoy the episode and enjoy the rest of your day. Welcome to the Well Off Podcast. The goal is to motivate, inspire and share success principles. I’m here with Jack Bosch today, Jack. I appreciate you joining me all the way from Phoenix, Arizona. It’s great to have you here.
Jack Bosch [00:01:34] Well, thank you very much for having me, Georges. And so we’re excited to be here.
Georges El Masri [00:01:38] Awesome. So, yeah, obviously you have a whole system. You got the shirt here with the land profit generator on it. For those that don’t know about your system, do you want to kind of tell us a little bit about it? But actually, sorry, before we do that, I always start off by asking you a little bit about your childhood. Just tell me about where you grew up and one or two things you remember.
Jack Bosch [00:01:59] All right. So I am, as you can probably already buy, just made me opening my mouth and saying, if your words, you can tell I have an accent, right? So I live in Phenix, Arizona, and now American citizen, but I was born and raised in Germany. As a matter of fact, the combination of Germany and Argentina, South America, my dad’s high school teacher, mom, a stay at home mom and I was born in Germany, in a small town close to Switzerland and Austria and France back in the Black Forest, kind of like the hours west of Munich and at age three or four things almost for my family decided to. My dad decided to take a teaching job in Argentina and work beside us. So we went there for five years and then we came back. And then ever since then, since then we came back right to our small town again. I went to school there. Grant you that there, went to university there. And then my last year in college, I decided to do an exchange program with an American university and ended up in Illinois, where three weeks into it, I walked by this. This wonderful young lady walked by the by and is like, Oh, hello, who was that? And I was story short, she’s not my wife of more than 20 years.
Georges El Masri [00:03:11] Awesome.
Jack Bosch [00:03:12] So you think you’ll remember? Well, I remember growing up in a sense, like going to Argentina, growing up, speaking Spanish, learning Spanish, coming back, readjusting. I remember I had a pretty happy childhood, not a wealth each other. By all means. My dad is just one normal middle school teacher, one salary mom, stay at home mom. But in a small town running around my bicycle, spending my summer with friends like free cell phone time, basically just like leaving the house after homework was done and spirit to the words be back by dinner, and it’s just having fun and running around and horsing around. So I have a great time, but never thought about business, just only started about thinking about business once I came to the U.S.
Georges El Masri [00:03:56] OK, so tell us a little bit about that. Tell us about your business, about the land property generally. Sorry, land profit, generate regenerator and what’s that system like? What do you guys do? Give us a little background.
Jack Bosch [00:04:07] So we do real estate investing. And just like any other people in real estate investing like, you know, the House for the first vote in the House flipping, there’s a concept called wholesaling where you basically put a house on a cot and then you sell it to somebody else. Was that going to rehab it or sell? And so, well, we do basically the same thing just without the number one complicating factor in real estate, which is the house. So in other words, we are basically taking pieces of land that the owners no longer want. We find them, we get them under contract for rock bottom prices, in many cases, anywhere between five percent of market value and about 45 percent of market value, so basically five to forty five cents on the dollar. And then we turn around, we put them on a contract with no escrow deposit, but not with a longer time period of purchasing times that we don’t need to do what. House flippers need to do. We don’t need to be buying your house in seven days. We deal with people who own this property for decades. They owned free and clear. They just don’t want them anymore. They’re not want theirs. Most of these properties are worth between about five or ten thousand dollars and three dollars. They are just they’re just they’re just life has changed. Circumstances change. Our kids don’t want them, and they’re willing to give them up at steep discounts. So we put them on a contract. Then we go market them right away again, using online tools, and then we sell them and we mark him up. So let’s say we put something on a contract for 20 cents on the dollar. We sell it again for 60 cents on the dollar, which is a classic wholesale deal that you buy cheaper, super cheap and sell a cheap. And then we make three times our money, four times our money, five times our money, sometimes 10 times our money, and we move on to the next deal.
Georges El Masri [00:05:53] So a couple of questions came up as you were describing all that. The first one is how do you find your deals? Do you have a I’m assuming you have a system that you you’ve created to find these deals? Can you kind of break that down a little bit for us?
Jack Bosch [00:06:06] Sure, absolutely. So we’re using a direct mail based system because again, in land flipping, there’s contrary to house flipping, there’s almost no competition because everyone, if you are, I mean, just how many people you know that flip houses a ton, how many people do you know that flip land? Probably the first one you met, right? Or not many more. So ninety nine percent of the real estate investors go after houses, one percent goes off the land. So we have really had a blue ocean in front of us, the gap in the real estate market. And as a result, direct mail still works because while a house owner gets like 20 phone calls, text messages and letters every single week about their house, a landowner gets nothing ever. So as a result, when we send out these letters, the people are like, Oh yeah, I’m interested in selling his property. I been paying property taxes for many, many years. I’m not using the property I used to 30 years ago, perhaps to go camping there a few times. I just don’t want it anymore. And so they’re responding. So no one direct mail, because it’s out there, we get a very high response. Rates, typically between about two and 10 percent is what we get a response rate, which if you look at it in the house flipping side of things again, most people get like a quarter of one percent back, and that’s a good response rate these days. So we’re getting 10x 100x that as response rates, and obviously it’s hard to believe. But so what also, what we focus on is we don’t just focus on any piece of land, but we have three kinds of land that we focus on. And these kinds of three kinds of lands is number one. It’s lots in what we call the path of growth. So we focus on larger cities like a couple of hundred thousand dollars and more, and a couple of couple hundred thousand people and more. And we go on the outside of those cities, like where the last development ends and then a little bit further out from there. That’s what’s typically called the path of growth the city city’s growing. The cities are already full, so it needs to grow to the outside. Mm-Hmm. Well, out there, prices on not you have 10, 15, 20 minutes outside of the other side of the city. You can get two acres. Two acres are worth $50000. You can get it for 10 and flip for thirty five and you made $25000. One of our students right now, thevery send me a message that they’ve got a deal one hundred thirty thousand dollars and are closing on it today for one hundred and eighty thousand dollars for $50000 in profit. And the property is probably worth $300000, right? So we, we have identified that there’s a lot of land and a lot of demand. So this is a nice match. We don’t just go randomly buy stuff and then don’t know if we’re going to sell it. We’re focusing on the kinds of properties that already have built in a huge buyer pool. So that’s why on the second one is recreational acreage like 10 plus acres in rural areas where people with armies and ATVs and dirt bikes and razors and motocross bikes and quads and so on. They love going out for the weekend that have their own space where they can even bring their friends through three or four armies, go together on their own land and then have a blast. My own chiropractor just bought six acres out in New Mexico by five hours from here to now, every time he takes off Friday and Monday, and he just goes out with his RV and he spends a weekend with his buddy that also has an RV and now owns the property next door. And they just go horse around the road show and go hunting and do all the things that you do, obviously on hunting season. The third kind of properties is actually properties in the city and those are infill lots and those are super attractive to the builders. So again, the first one, so the path of growth, a trap, they’re attractive to a lot of people that want to live a little bit close to the sea, like future retirees, people that perhaps can do. Ford to live in the city, but they want a little bit more of a lower cost lifestyle. But they don’t want to be in the middle of nowhere. But those people and the covid buyers says right now completely exploded our market because with COVID, with the ability to work from home, there’s a ton of people like, you know, I’m just going to buy the two acres outside of town, build a house over there. I got utilities. I got water, electricity and saying I put a skeptical system on there. And if I need to be in the office, I’m only 20 minutes away from the city. Yeah, but if I don’t need to be in the office six days out of the seven days of the week, I’m enjoying life here. How can I get a horse for my kids? I can get some goats. I can. I can have a big playground. I can, I can have fun and I’m a distance from other people, right? That this the thing is an issue these days. So COVID has completely exploded our market in a positive sense. And again, and then lastly, the in influx is the builders of this property. So we focus on these properties to be identified where they are in a certain price range with a few other criteria. We sent them a letter. They respond back to us and then two to 10 percent, then we do a little online research in the nice part is because this is land you don’t have to go on the property. I mean, there’s nothing to see. I mean, I can see if there’s a tree on the property from at home using Google Earth, just as much as if I’m on the property. Yeah. So as a result, we have people doing this from outside of the country. So we have Canadians doing this in the United States. The guy you just talked about that does $50000 deal right now. He lives in Germany, and he has never in his life been in the United States, but he’s flipping lots in the United States. So basically, we get it some data. We send them an offer. They accept the offer. We put him on the online, on the market, online, we find a buyer and we close again. It’s all this. It basically is virtual. Land wholesaling is what we do.
Georges El Masri [00:11:47] OK, awesome. So just to recap, there is three types of land that you focus on lots and path of growth. Recreational land and then infill lots in major cities. So the question that I have for you is once you get these properties under contract, who’s your who are you wholesaling to? Who’s looking to buy these lots from you?
Jack Bosch [00:12:07] Well, as I mentioned, if it’s in the city, it’s the builders factor builders. Right now, prices have almost doubled in some markets in the last two years. The in Arizona, for example, where I live the media while the Phenix area Greater Phenix metro area the median house value is now three hundred seventy eight thousand dollars or something like that. Probably that was a few months ago. It’s probably already close to $400000 right now. Mm-Hmm. You can build a two thousand square foot house for four hundred thousand dollars. The builders can make the builders build these houses for $100 a square foot, so it cost the builder $200000. The builder built their square, built a house if they if they have another thirty thousand dollars of other expenses. If they make a hundred thousand dollars in profit on that deal, they can still pay $70000 for the lot. So we can find a lot for $40000. That builder snatches at our hand for $70000 that same day. That’s number one. Again, in the path of growth. It’s a lot of the people are retirees that buy these properties or just again, the corporate buyers that buy these properties. It’s so we do need to b to C. We basically sell to the end consumer usually and the consumer. It’s just somebody that wants a piece of land, particularly if it’s in the path of growth, is sometimes also financial buyers. So they’re behind it. They’re taking money off the stock market, buying this property, that’s worth $60000. We got a contract for 12. They’re buying it from us for a forty dollars for thirty five. We make 23 20 was at 25, 12, 12, 20, 30, $23000 in a deal. They now sit on it. They wait for the city to approach little by little. And as the city approaches, prices in those areas go up and all of a sudden, 10, 15 years from now, their property is not worth 60 anymore. That property is worth four hundred thousand dollars and they made a tremendous return. We made a great return. Everyone is happy. Yeah, and the role of the properties in the rural area are what we call recreational buyers. Basically, the RV 8b kind of crowd of which about a good 10 20 percent of the population of every city is absolutely loves that kind of stuff. Mm-Hmm.
Georges El Masri [00:14:24] So my question for you now is that that example you gave of the person in Germany that’s investing in in Phenix? What kind of what knowledge do they need to have? What do they need to know and who’s providing them with the knowledge in order to be able to invest in your market?
Jack Bosch [00:14:39] OK, I want to follow up so well, obviously, not only my wife and I are a team. We have flipped 4000 properties ourselves in the United States, but we also teach just now. So we have coaching programs and we actually have coming up right now a what we call a master class, which is a five day free training done via Facebook that that. That is where we walk everyone through the steps one by one, but one of the sessions we do there, a lot of the sessions in the house I can explain right now here is when you do this from outside of the United States. So this works really, really well inside of the United States, very simply because of the privacy laws or actually the lack thereof in the United States. So in the United States, all the information about who owns a piece of property. Where does that person live, the actual address of that person? How long have they owned the property? How much of they paid for the property? What’s the assessed value of the property? What’s the legal description of the property? What’s the size of the property? William Tom Moore thinks it’s all public information, to my knowledge, but that’s not the case in Canada. So my knowledge is not the case in Mexico for sure. That’s not the case in Germany, and many and most of the European countries that many of them that I’m aware of stolen as a result. This works really, really well here. So what we have now created is an opportunity for people to also from outside of a country, invest in the United States and don’t on. And what you need to do that for is you basically need to set up your business in a virtual way. And one of the things for that is, for example, the first thing we do is we set up a virtual phone number, not from Canada. You’re in the same time zones. At least that’s a benefit here. What I teach our German students, they are obviously anywhere between six and nine hours ahead of tours of the U.S., and that’s a bigger problem. So but either way, we usually set up a formal system. So for example, there’s a company called RingCentral that we use on our own that that you set up a secondary phone system with a secondary phone number that rings through on your phone so you don’t need to carry two phones. You don’t have to have a big phone system. It’s just an app that you subscribe to. You get a phone number and now you can use it worldwide, and now you can get phone calls from people anywhere in the world. So that’s important because he can also take one of these phone numbers and forward it to a call center. And that’s what most of our students do, for example, so that they getting the lists right. We talked about that the data is public. So public information while getting the list is easy because there’s actually data services that you can subscribe to. And then for a few cents, a few sets of records, you can actually get that. We actually even have a software that’s plugged into the data service so our software subscribers can actually collect the data right from the service into the system. Then we’re also plugged in to a mailing house so you can go from there directly sent the letters out to a mailing. So my Germans and the Canadians, they’re actually using an American mailing house to send those letters up. Mm-Hmm. So you know what I mean, you don’t need to stuff all that print letters from Canada and then send them over the border. That takes forever. It’s more expensive. And so and we don’t want to do that so that we’re using American U.S. based resources for that. Like a U.S. based phone system, virtual phone system, a US based mailing house, a U.S. based call center that can take your phone calls. But then also you offer us you can use that same mailing house to send out the offer. So ease of use based mailing house to send out the offers. And then what? The only thing you still need is a mailbox in the United States. And for that, there are services like what’s called virtual mailboxes in a virtual mailbox is basically there’s hundreds of providers. You just go into Google to search virtual mailbox, compared to different offerings, some of them deposit checks for you. So some of them and what they do is that a letter. So let’s say you send an offer out with a mailing house the seller receives the offer sees the offer takes us, then signs the offer sends the offer back to you, but you don’t want them to have to send it to Canada. You send them to your virtual mailbox address in the United States. And what happens in the mailbox? And there they put it, that they scanned the bill open and then you get another information that you have mail. So you go log on to your laptop, you go log onto your virtual mailbox and you see the envelope. That looks like one of my accepted offers because we marked the envelope so that, you know, it’s an offer. So you said, Hey, guys, please open that you checked that one and that save it, and that gives the man. The Virtual Mailbox Company then gets a notification that you want that envelope open, so they open the envelope, scanned the envelope and then the next day you go back and is like, Hey, there’s my accept that offer. So you print it out in Canada, sign it, cosign it scattered. Then and then what we use. The next step is using a title company. Our companies, I think, are also common in Canada. Probably they’re very much there. There’s a neutral company between the seller and you that does all the research, does all the paperwork, does all the things, collects the money, records the deed and basically does all the things in a manner. So you sent that thing to them. You say, Hey, I got a deal, open escrow and then you go send and then you go list. The properties are listing the property again is easy because all you do the list, these properties are places like Facebook, Facebook Marketplace, Zillow, Paula dot com. And all these really, really well known free, mostly free websites on there, so it’s all can be done from the comfort of home, really from Canada or for that matter, from while on the air or from, I don’t know, from the Maldives or Hawaii or from wherever we really want to live in.
Georges El Masri [00:20:16] Awesome. I love the system that you’ve created. It sounds like you have everything sorted out and you’ve created such a procedure for every single task, which is awesome. As you were speaking, I was thinking about your mailing house. I’m just wondering, so are these letters that you’re sending out? Are they personally addressed? And if so, does the mailing house take care of that? Or is it just a generic letter that they’re sending out and you just send them the template they printed out and mail it on your behalf?
Jack Bosch [00:20:46] No, it’s a personally trust letter now. It’s print, not handwritten, not handwritten. Just like people misunderstand me when they say, when I say, it’s like, Oh, you want it to be handwritten? No, no, no need to handwrite letters that extravagant, extravagant. But what you basically send, you send the mailing house a spreadsheet of all the people and their addresses that you want to send it to. And then you send them you a letter template and they do a mail merge right there on the fly. And every letter for a letter one goes is addressed to Steve Smith and I want the three main street level two is addressed to Mary Jones and in a completely different city. And they’re just being there, being there, being mail, marching so that every single letter is both on the envelope and on the actual letter specifically addressed to the owner of the property.
Georges El Masri [00:21:34] Awesome. That’s so cool. And is, do these letters go up regularly or do you just send them out one time?
Jack Bosch [00:21:40] We only sent them out one time to each seller. Having said that, in order to get the deal flow coming, you want to get into a rhythm where you send out a certain amount of letters every week or every other week or every month, depending on the volume one to do it now. We have students that do 100 deals a year. I can make a million dollars a year in profits. They send out letters every single week. Not now, not to the same people. The same person only gets a letter every time you come back into that area, probably every six to 12 months. I do. But so you basically select several counties. We like to operate on a county level. So which is the same thing as like the smaller than provinces, I think. But whatever it is in Canada and you go and you get you got a certain amount of letters based on that criteria that we select them for that that gives us a high likelihood of hitting those sellers. And then you send out that, say, a thousand letters this week and then two weeks later, send out another thousand letters to a different batch of resolve owners. And then four weeks later, it’s another thousand letters to the next batch of owners. And typically, once you hop on, then your system. So it takes a few months to three months to home in your system, drive and go through a little bit of a test phase that we guide our students through. Then you can reasonably expect to get a deal for about 700 to a thousand letters that you send out now. Oh, that’s a reasonable expectation. So if each letter costs, let’s say, 60, 70 cents, you’re basically spending about four or five hundred dollars for every deal you get. But then every average deal makes about ten to fifteen thousand dollars in profits. So it becomes a numbers game. They’re very predictable numbers game that you go invest a little bit in mailings and then you get your responses, your offers, your deals, and then you make sure you get set up enough letters to get four deals. You get it back. You now make thirty thousand dollars right, and that becomes very, very predictable. And that’s how it’s designed. It’s designed as a treasure hunt. It’s designed as a predictable, repeatable and scalable business.
Georges El Masri [00:23:48] I love that. That’s awesome. I love what you’ve created. I love all the systems you put in place. It’s awesome. Yeah, I think we covered quite a bit. There’s I’m sure there’s a lot more to your system. Is there anything we’re missing any important piece here that we didn’t discuss?
Jack Bosch [00:24:02] Well, there’s one piece that I perhaps want to mention, and that is our second way of selling the properties, which really typically elicits a little bit of a double take by people. Because what people hear about land, what they normally think about land is no one is expensive. Number two, it doesn’t cash flow. Number three is risky. Well, let me let me address those. It’s only risky if you’re planning to hold on to it and do something big with it. So the downtown two acres next to the ballpark that cost 20 million dollars and that you can develop into a high rise that is a risky proposition because if you do put that in the wrong timing on the market, it can all collapse and you can lose your shirt, right? That is not what we’re talking about here whatsoever. We’re talking about the property worth 10 to $10000, all the way to $300000 or $5000. All the way to 300000 in the outskirts, off the off the properties and things like that, and then we’re also talking about flipping them so we never hold on to a property. So with that said, one way that we sell the property is actually addresses. The second point is said land doesn’t cash flow well, land does cash flow. If you sell it after Norway, and one of the things that we do with a lot of our dealers is we sell those properties with seller financing or self-financing seller carry them. So what are the most beautiful thing in the world to do is take a property. Let’s say that’s worth $50000. Get it under contract for $10000, then go sell it for $50000. Because the beautiful beauty here is that when you sell the seller financing, you actually don’t need to discount the price anymore. Because the deal, the offer is in the low down and low monthly payment. So you’re already offering a really cool deal. It’s like a car, even a Ferrari. They don’t have to discount the Ferrari to sell it. They offer financing on the Ferrari. And that’s why they can charge $300000 for the Ferrari. So we’re doing the exact same thing here, so we’re selling that property at all with $50000. And we’re asking for a very reasonable 20 22 percent down payment. So now we’re getting, let’s say, eleven thousand dollars as a down payment on that property, 22 percent. So if you remember, we have it under contract for $10000, but now we’re getting eleven as a down payment. And what that means, we can structure the deal such that we buy it and we sell it both on the exact same day. And we can structure in a way that we use the buyer’s eleven thousand dollars to pay the seller. The ten thousand dollars to use a thousand dollars goes to the dollar company. So now we bought that property without paying a dollar for it. We sell off the property for $50000. I was worried about carrying a self-financing note of $40000 with $500 a month payments for the next 15 years. So in other words, we now generated cash flow to the tune of something like ninety thousand dollars over the next 15 years without taking a dollar out of our pocket. Yeah, and we do lots and lots and lots of deals just like that.
Georges El Masri [00:27:21] Yeah, that’s a really quick way to replace your income. And if you’re looking to retire whatever you’re looking to do, you start bringing in that cash flow. Build it up. You’ll get there very quickly. That’s awesome.
Jack Bosch [00:27:32] And the most beautiful part about it is it is cash flow with our tenants without termites, but not without toilets, without repairs, without midnight mobiles. Because that’s seller finance, cash flow. The worst thing that can happen is that that person stops making payments, but that’s a lot. Let’s say they paid for two years. They pay you $500 a month. That’s $12000 for two years now. They’re stopped making payments even in the worst state of the United States. It doesn’t cost you more than $500 to foreclose on that. In some states, you can foreclose within three weeks for 50 bucks. Well, let’s pick the worst dates. It might take you six months’ rent and spend $500 to foreclose on that. What’s the problem? There’s not a problem here because we’re just going to collect the 12, 12, 12 thousand. Now you get $500 back, you still have ten thousand five hundred in the pocket. By that time, the property has now gone up about a 30 percent in value. You know, sell it not for 50. You set it for sixty five thousand dollars. You get another thirty thousand dollars a down payment and continue that journey again. Yeah. And I mean, people always ask me, well, what if they don’t pay well, financially speaking, that’s the best thing that could happen to you, because then you get to get that. I get to get the property back and get to do that again and again. Obviously, that’s our business model. We rather work with our buyer and extend the payments, make sure that they can continue making those payments. But if it happens, it’s not a big deal, and our default rate is only about four per cent on all our loans. So it’s almost it’s the same as the commercial bank of is beautiful.
Georges El Masri [00:29:02] Well, that’s it sounds like a really good, well thought out system, and I can see why it would work. Like, theoretically, everything seems to make a lot of sense, so I appreciate you sharing all that with us. So I wanted to move on to the next section, which is the random five where I’m going to ask you five questions. You just tell me the first answer that comes to mind. And the first question is what something childish that you enjoy watching cartoons.
Jack Bosch [00:29:25] I mean, like Disney cartoons. The other day, my wife and I were flying to flying to Florida, and I saw something like that, and then I showed it to my wife. And she’s just like, Really? You’re watching that? Sure. Why not? I mean, yeah, they’re well-made movies. They have a beautiful storyline and we have a 14 year old home. She doesn’t even watch them anymore. But I still
Georges El Masri [00:29:45] yeah. Yeah, yeah, I agree with you. Cartoons are pretty cool. Animated movies. Number two, what’s your favorite kind of weather?
Jack Bosch [00:29:52] My favorite kind of weather is 70s. With glitter, with nights just cool enough to wear a light jacket, but not to be cold or hot in Arizona, we don’t have a whole lot of that. But we do have from right now all the way until May. We have days like that. So I like those 60s 70s. There is worse getting a morning ready, a little jack, and it’s on day, really. That’s why we live here. And that’s why also our land business allows us to escape in the summer like the moment school is out, which in Arizona is about May 20th. We usually take off and we go. Not this summer. We went to Hawaii for my for a month and then we came back for it for a little bit and went to Germany for a little bit. And outside of government, we usually go about three weeks to Europe. Then we come back for a couple of weeks and then we go about three weeks to Hawaii. By the time we get back, it’s August and then we have six weeks more of heat and then it becomes beautiful again. Awesome.
Georges El Masri [00:30:53] Cool. I love that you got created that life for yourself through what you’ve done. So that’s great. Exactly. Number three, if you could ask your future self-one question,
Jack Bosch [00:31:03] what would it be? To let me know wins the Super Bowl so I can go bet on it.
Georges El Masri [00:31:08] But that’s exactly what I was thinking. Yeah.
Jack Bosch [00:31:11] Perfect. I’m thinking back to the future. Three When they get when they get the hang of that book with the winning lottery that whatever, with all the winning races it’s on. So my brain, my first, my first thought actually went towards health and I was like, Hey, what if I could assuming that that my future self, I’m still healthy is like, or so I’m not healthy. It’s like, Hey, what? What do I need to do to really make sure I stay healthy? Because health is our first wealth, right? I really take good care of my health. We try to be somewhat sporty. We eat healthy and things like that. But you never know what’s happened. And then luckily to this point, I’m fifty one to this point, I’m not as much taking not a single pill of any shape or form. Awesome.
Georges El Masri [00:31:55] Good for you. That’s great. Great to hear. I’m number four. What’s the biggest rake risk you’ve ever taken?
Jack Bosch [00:32:02] The biggest risk I’ve ever taken is probably two things. One is coming over to the U.S. and not I have a job lined up everything at my apartment. So at least for a year and not going back. But I didn’t look at that as a risk because I got a job offer here in the U.S. and that’s the worst thing that could happen. I just quit so I could just quit and go back home if things didn’t work out with my girlfriend again. That’s not my wife of 20 years, business partner and the CEO or business. But the real thing is, like back in 2004, we had done about hundred and fifty deals that year and we wanted to scale further. So what we did is we decided to put up a big in-person land auction and we bought we actually we already put one hundred and seventy properties under contract in a matter of like four months with full-out hired a bunch of people. And then we spend about two hundred thousand dollars advertising that big auction, and we didn’t know if a single person would show up. And luckily, the doors opened. 400 people showed up when we made one million dollars that day in profit, but it was the biggest risk that we have ever taken. Now, since then, we don’t do this anymore. With that, we have moved all our sales online, which makes it reply, which means that people can replicate it because obviously you can’t just copy that model. And not everyone is able to spend $200000 on an on an auction, but everyone can take a piece of property. Tonight, the listing put it on Facebook. So that’s why our coaching students, right now, they do that. But that was the biggest thing. We put everything on the line. You know, the credit card companies sometimes take you checks while we use them, cash them in and we use them for advertising. We took a line of credit against the lot that we did own and we just like when went down to the wire financially for that event and that it paid off to the tune of one million dollars of profits in one day.
Georges El Masri [00:34:01] Awesome. Great. I’m glad to hear it worked out for you. And the final question the final question is what’s one item on your bucket list?
Jack Bosch [00:34:10] An item on a bucket list. One item is a safari in in Africa, and that is something that we want. We’re actually looking to do. We had actually almost everything booked already in December and go there. So this summer to South African doing safari by just the last one we decided was too hectic. We only have like 12 days, and it has been a 10 day trip from Phenix to New York to South to Cape Town, and then do this entire thing with the time changes. So we are going to do this though next year, summer, assuming COVID, that’s one allows it that the travel restrictions we’re going to do this next summer, that’s been a lifelong dream to do a really nice luxury safari. And we’re going to do that.
Georges El Masri [00:34:56] Awesome. My. Goal was to do that exact same thing. It’s so crazy, because that’s exactly what I’ve wanted to do for the last few years, too, so I hope you get to do it next year, next summer. And before we end things here, how do people reach you and what services do you provide?
Jack Bosch [00:35:15] All right. So we provide the of coaching company we have coaching program, but we also provide free masterclasses where we show everything and the simplest way somebody can get a hold of ideas. Just simply go to a w dot land profit master dot com, then profit massacre. You’ll see when the next one of these coming up, there’s one coming up right now. And then, even if not, it gets redirected to perhaps the next event or one of our team members, gets a notification, can get in contact and let you know when the next kind of these events happening so that profit master dot com is the best way.
Georges El Masri [00:35:53] Awesome, Jack. Thank you so much for your time. I appreciate you sharing all this and I wish you all the best.
Jack Bosch [00:35:59] Thank you, doctor.
Georges El Masri [00:36:00] As always, thank you for listening. I hope you enjoyed the content. And if you did, I ask you to share this with a friend, with a family member, somebody who might benefit. And it’s always appreciated. If you could leave us a review, especially if you’re listening to it on the Apple Podcasts app or if you’re on YouTube, give us a like subscribe comment and your support is always appreciated. Thank you very much.