The Concept – Find people who don’t want their land anymore buy it for $100 to $2000 (he personally found thousands of them and bought and sold over 5,531 properties in 7 years) and then Flip it and sell it at Market value (or wholesale) within days.
Always eager to help in the earnest pursuit of quality REI continuing education, I emailed Jack personally about it. And since I get a lot out of short little case studies, I asked for a real world student of his I could interview privately. I also told him he’s not allowed to be there or prep him/her in advance, because I wanted frank answers and didn’t intend to pull any punches.
So here you go! You can read all the questions I grilled her with below. Anyone currently sizing up Jack’s offering will be glad you invested a few short minutes eavesdropping in on my little chat with Reneé…
Investor Profile: Reneé Riker, Southern CA
Occupation: Full time in Regulatory Compliance, and part time as a Real Estate Investor based in Greater L.A. area
- Experience: Focused on out of state rentals for 5 years, then got tired of tenants, toilets and termites and discovered land flipping.
- Reneé: “For me it’s always been about the cash flow as I want that passive income like everyone else!”
- Recent Deal: Paid $27k for 6 parcels (53 acres) in the desert, then quickly sold first 2 of 6 lots for $60k by themselves.
- Familiar Story: Has purchased “many costly real estate training courses” in the past, only to discover what she DIDN’T want to do.
- On Jack: Has first hand experience in using Jack’s land profit formula system and says it, “opened a whole new world to the meaning of real estate investing” for her.
Questions Asked and Candidly Answered:
- “Can you describe the land flipping model as you’ve applied it yourself?”
- “For vacant land, the due diligence process seems more intimidating to me than for houses…what’s the process been like for you personally?”
- “How about a bird’s eye view of your first land flip deal?”
- “Do you prefer selling your land deals for all cash vs. cash flow?”
- “Being completely honest, what do you feel are the strengths and weaknesses of Jack’s land flipping training? What sets it apart from the rest, and how could it be improved?”
- “Was there anything missing from the training material that you honestly wish had been included?”
- “Who is this model / material is ideally suited for?”
- “With a basic knowledge of real estate in place, what learning curve might someone expect with Jack’s material?”
- “What personal advice would you have for anyone who’s trying to size this model and Jack’s material up for themselves right now?”