FCP 025: 4 Key Tips to Selling Properties Faster and Make $26K in 30 Days

Intro:    Are you ready to transform your financial future? Here’s your chance to see inside the mindset of self-made millionaires, Jack and Michelle Bosch as they go back the curtain on secrets that can make you rich. Discover how everyday people are breaking the norms and building empires from the ground up using a little low yet proven and time-tested wealth building real estate strategies. It’s my pleasure to welcome you to the ForeverCash.com podcast and introduce you to our hosts, serial entrepreneurs, investors, educators and best-selling authors, Jack and Michelle Bosch. Strap yourself in for the ride of your life.

Jack:    Hello everyone. This is Jack Bosch speaking.

Michelle:    …And Michelle Bosch.

Jack:   Wonderful! Welcome to the newest edition of the Forever Cash Real Estate Investing Podcast. We are excited to share it with you. This is husband and wife speaking.

Michelle:    Woohoo!

Jack:    All right. If you’ve never heard from us, if you’re finding this based on today’s subject, perhaps you’ve been searching on iTunes and if you found something about how to do a listing and how to make your properties sell faster because that’s the subject of what we’re going to talk about today… how to sell your properties quicker and for more money using some really cool tricks. And using a case study of one of our students that just basically shown that if you just implement what you’re being taught, then you can sell these properties very quickly and make a bunch of money on it.

Michelle:    Absolutely.

Jack:    I want to let everyone know that you can actually get a free gift when you… just for coming to this podcast. Typically, we’re talking about tax delinquent real estate. Tax delinquent real estate is real estate investing on properties where the owners have not paid their property taxes, which means in essence, people that have like every house, every property, every piece of land, every commercial property, every industrial property, every mobile home for that matter, have property taxes on it, and then as long as it’s in a fixed mobile home.

And if you don’t pay those property taxes, there’s a process that the county, the state goes through to basically take those properties away from the owners and bring them back into the hands of somebody else, foreclose them, and then sell them and make those properties perform again. Meaning, they’ll put these properties back on the tax roll so that that they receive their taxes. And they do that in either tax lien at a process that’s called tax liens or a process that’s called a tax deed auction.

And what we have figured out is that there’s actually a whole host of really, really exciting techniques around that. Not only attending the auction, and then buying a lien or attending the auction buying a property, but ways that you can circumvent these auctions and go directly to the owners and buy similar properties or the same properties for pennies on the dollar for literally $0.05 to $0.25 on a dollar.

And in today’s podcast, we’re actually going to show you exactly that… a case study of one of our students when they bought properties literally for less than $0.20 on a dollar. So how about buying a piece of land for $900, and then making $4,000, $5,000 on it? How about buying one for under $2000, and then making over $5000, $6000 on it? Or how about making $10 grand on a property you bought for $4,500? Those are the deals we are going to look at today, and we’re going to share with you not only the deals, but also how this wonderful family, a student of ours have made… have actually followed our advice and sold these properties very, very quickly.

Michelle:    Awesome, yes. So the…

Jack:    Oh, did I tell you where you can get the gift? I talked about the gift.

Michelle:    Yeah.

Jack:    You can get the gift at ForeverCash.com/Freedom.

Michelle:    At ForeverCash.com/Freedom.

Jack:    All right, very good. So okay. So there’s that, ForeverCash.com/Freedom. Also, the podcast notes, transcripts of the podcast, a place where you can click on and leave us feedback, leave us a review on iTunes. All of those things are all available on ForeverCash.com/Podcast, okay?

So ForeverCash.com stays the same, then /Freedom is the free course for you to show you the five techniques and how it works. And ForeverCash.com/Podcast is where you can see the archive of the podcasts, the transcripts, the summary and the links that we’re going to talk about. All those things are up there. All right. Let’s get started,

Michelle:    Yay! I get to tell the story of Alynn and Jorge after being manterrupted for two times by my wonderful husband, so here it goes. So yeah, today’s episode is about the story of Alynn and Jorge. They’re a student of ours. And Alynn is actually from Peru and Jorge is from El Salvador and they’re the classic…

Jack:    They live in Florida.

Michelle:    They live in Florida now. They have a family. Actually, their children are now young adults, and I’m pretty sure one of them is because they did bring their son to one of our events. He’s very closely working with the family business. And so, they’re the classic story of this immigrant family here in the U.S. with this amazing work ethic and really willing to work long hours, outwork anyone, but that’s probably the topic of another podcast. And so…

Jack:    Yeah, at the same time looking for something…

Michelle:    Yeah.

Jack:    …That really would help them break through…

Michelle:    Yeah.

Jack:    …Because they have been working in what area for our listeners?

Michelle:   They were actually doing mobile homes and I know they were having some success with that, but they saw… I think Jack presented somewhere in Florida and they really saw how they really could compliment their mobile home business with the land business.

Jack:    Right.

Michelle:    Because after all, mobile homes sit on land so they’re really into it…

Jack:    I sometimes get invited to places to speak and at one of these events, Jorge and Alynn showed up. And Alynn is a wonderful lady. Well, both Jorge and Alynn asked a lot of questions which is cool. Basically, I mean, they do their due diligence before they act which was great because after that presentation ended, they came up front. They asked me a lot of questions and I answered all their questions.

And then, they decided to go forward and purchase one of our courses, and then subsequently come to one of our events. And at the events, they basically told us that they had started applying the system, but they were kind of struggling along the lines. And even before, I mean, they were hardworking, and I think one of the number characteristics they had was they’re really willing to work hard to make this happen. They’re really like bulldogs.

Michelle:    Absolutely.

Jack:    They go and bite something, and then they got to work on it until they…

Michelle:    Until they figure it out.

Jack:    …Until they figure it out.

Michelle:    Yeah.

Jack:    But they also realized that they needed some additional guidance to make sure that they make this happen much faster because we have students that make it happen in two weeks, others that take two months, others that take depending on… Because they were in the mobile home area, they were kind of like struggling to kind of add this to their business, and that’s probably the main reason for their struggle.

Michelle:   Yeah, how to add it and at the same time have momentum using both techniques or using one technique to really have one strategy to go at it from two angles.

Jack:    Right! So that’s really was their main struggle and they realized that if they continued down that route, they will have to at some point of time, either stop one or they’ll have to give up and so on. And so, they ended up engaging with us in another program that we have and as part of the program, they were guided through the process of how… of what the exact steps are, and there are certain things like for example, that Michelle is really high on for example, that rhythms of… What do you call them?

Michelle:    Basically, structured rhythms of success and getting on board with basically planning… doing some strategic planning so that you can visit a certain action or a certain task once and you schedule it out, so that you can have a continuous flow in your pipeline of deals coming. You don’t want to basically start the momentum, have a deal, and then all of a sudden after being in the peak of making $10, $20 grand, and then having to start from scratch again. You want to basically have a constant drip of deals coming your way.

Jack:    A constant flow.

Michelle:    Constant positive things coming into your life, into your business life. So I just shared a few concepts with them regarding structures of rhythms of success…

Jack:    And one of the most important ones in that case is that it fits very… that really the key to their success as we’re going to share in just a second was that in the land business, you don’t have to do 15 things at the same time.

Michelle:    Uh-huh.

Jack:    You schedule one thing like you do property research in one day and you’re making your offers another day. And you send out your letters another day. And you put up properties up for sale in another day. So they were doing all or everyone… Well, all of our students are doing all of these things. As soon as the phone call comes in, they drop everything and they start doing the research. And at the end of the day, they are exhausted and that’s not how you need to do this. If you do it our way, the Forever Cash way, then you really structure that as such that everyday or every other day, you schedule half an hour or an hour and you do just one action. And all of a sudden by doing it that way, they were able to actually get a whole bunch of them…

Michelle:    Scale.

Jack:    …And scale them. Now the first thing, a few weeks passed. I won’t continue that story and then I’ll let you talk again.

Michelle:    Yes.

Jack:    I’ve got to continue the story. A few weeks passed and I hear that they have… All of a sudden, they have a whole bunch of properties on a contract. As a matter of fact, four deals and a contract already and they have already listed them and that they are excited about it, but yet there are no buyers yet for these properties.

Michelle:    Uh-huh.

Jack:    So one of the things that… Again, to the process being guided through there, that then what made the big difference is when we actually sat down with them in one of the sessions that we did…

Michelle:    Yeah.

Jack:    …Or that our team did…

Michelle:    We asked them to… We could see their listings and see how they were putting and advertising these properties and the way they were putting them for sale, and so… I’m sorry. Go ahead.

Jack:    No, that’s okay. And then, that’s exactly what we’re asking first to send to us so we could see what they were doing. And then once we saw that, we gave them just four pieces of advice, which ultimately once implemented, led to them selling all four properties in a matter of like two to three weeks.

Michelle:    Yeah.

Jack:    They were all gone making them over $25,000 worth…

Michelle:   And so here actually, I have an e-mail from Jorge where he says, “We were advertising four properties at that time and we were receiving some calls. But not many of those were good leads, nor are we receiving the responses that we were looking to get. And so after our call with them and having asked them to show us their listings, the type of property, we did give them some tips and this is what we would like to share in today’s podcast.

Jack:    Right. So first thing we want to share is when you want to list the property, you can’t just go out and list the property and assume the world around you knows what the value of that property is. I mean, let me ask you a question. If I have a property that I want to sell to you and I want to sell it to you for $25,000, is that a good deal? Your answer to me is going to be like, “I don’t know,” because you don’t know what the values in the area are.

Exactly! So our first piece advice to Jorge and Alynn was to basically establish value for the property in their listing. So every time you put out the listing, you don’t want to just say, “Hey, this property is for sale for $25 grand or $15 grand or $10 grand, whatever the number is. You want to first establish what property or similar properties in this area are worth and are going for.

So first, we told them that we want them to emphasize about real market price, real market value versus the sales price that we’re making available. So for example, on their property that they bought, one property bought for $900 and sold for I think $5,000. So the first thing they did is they looked around and they saw that other similar properties in the area sold for $10,000 and perhaps $8,000 to $10,000.

So therefore, they put it in their ad a couple of comparables. It’s like, “The property on this road sold for $8,000, property on that road sold for $10,000. Our property is only a road away from that, yet because we got it cheap, we can pass the bargain unto you for just $5,000.”

Michelle:    Yeah, and you want to make sure that you do mention that it’s because you got such a great deal and you’re able to pass on that bargain on. You basically don’t want your potential lead to have any ideas regarding if you’re having it at a discount and that it’s because there’s something wrong with the property so you definitely want to mention.

Jack:    Right. You want to always have a reason why it’s discounted…

Michelle:    Yeah.

Jack:    …Even if it doesn’t have to be a good reason… just a reason.

Michelle:    Yeah.

Jack:    A reason would be because you got into the bargain and you’re a wholesaler. You’re passing it on for cheap. That’s it. But first of all, what it does is it sets it up as a bargain, which it is. But if you just would have said, “Hey, a property for sale for $5,000,” people would have not known if that is a good deal or not a good deal because other people don’t know the area as well as you do.

Michelle:    Uh-huh.

Jack:    So that’s the first thing we wanted to do and set that as kind of comparable. And then obviously, the next thing you want to do is you want to mention the actual price of the property. And just as Michelle just said, you want to make sure you have a reason for it. And then what else do you want to do? That’s the first piece of advice in this. Go ahead.

Michelle:    And this advice really goes along the lines of you using basically… It’s like behavioral economics. It’s usually…

Jack:    Human psychology

Michelle:    Yeah, human psychology, using the psychology of selling. It’s being used on us all the time. And it’s basically positioning and showing basically your lead, either before or after, which we’re very familiar with weight loss products or showing contrast of some sort. And so here, what we’re doing is showing contrast as to what this property could possibly retail at and what you’re offering at as a bargain to your potential lead or to your potential buyer.

Jack:    Right. So now in addition, well, we ask them, “Are you willing to offer seller financing?” because particularly, land sells very, very well with seller financing. And by the way, that’s a way to get cash flow from your land. So he says, “Yes, they’re willing to offer seller financing.” So therefore, you want then as a next point put in that you’re willing to offer seller financing.

Michelle:    Uh-huh.

Jack:    Because when you do seller financing, now what does it do? Particularly, if you offer seller financing with a little down payment, perhaps you’re selling… you’re saying the property is available for $5,000 or $6,000 with a 20% down payment. Now in this case, they paid $900 for the property and they’re selling it for $5,000. So if they get it to 20% down payment, they get $1,000 of down payment which fully pays for what they paid for their property.

Michelle:    Yeah.

Jack:    So they get all their money back at closing when they sell the property which is really cool. Now if you look at that, now we have a double whammy here.

Michelle:    Uh-huh.

Jack:    A double whammy is number one, the property is a bargain because market price is $10,000 and you’re offering it for five or six, and on top of it you offer seller financing. So therefore, people are like, “Yeah, of course. I need to take this.” And number two… Well, number one is it’s a bargain, and number two, you offer seller financing. That’s really how it is.

Now however, they actually had offered it with seller financing for a higher price I believe, probably for $7,000 or $8,000 with seller financing. It’s still a bargain. It’s still a discount, but with seller financing, it’s still a double whammy. But then, the third thing I told them to do was or we told them to do… our team told them to do in the session was to also offer an additional discount for cash payment.

Michelle:   Absolutely. You definitely want to basically always have an incentive for someone showing you the money right away. So whenever you’re doing a seller financing, you actually have the ability to increase the value or the price that you’re charging because you’re being the bank. It’s like you’re underwriting. You’re taking the risk. You’re probably not doing any qualifying on the person…

Jack:    The deal is in the financing.

Michelle:    …Or doing any credit check and the deal is in the financing. So basically, this is your way to get compensated for your risk. So you definitely are going to have an increased price when you’re offering seller financing. And when you’re contrasting that with cash pricing, it really plays into that psychology that we were talking about earlier. So you always definitely want to have… for those people that are really looking for a deal, they have the cash in the bank…

Jack:    Right.

Michelle:    You always want to have the option of offering a cash amount that is probably substantially lower to really incentivize somebody to show you the money right away.

Jack:    Because now it’s really a triple whammy.

Michelle:    Yeah.

Jack:    Because now you say, “Market value – $10,000. I have it for sale for $7. That’s $7 with seller financing. But if you pay me cash, I will offer it to you for $5. Now in either way, you’re still making a chunk of money because you only paid $900 for it.

Michelle:    Yeah.

Jack:    And by the way, if you’re thinking like, “Where in the world can you get a property for $900 that’s worth $5,000 or $10,000?” Well, there are a lot of areas. If you live in San Francisco, it’s not going to be in Downtown San Francisco, but it is in the counties outside of San Francisco. If you go up north, if you go past Napa Valley, past Napa County into Siskiyou County into other counties around it… If you go into Arizona into northern counties… If you go to Alabama, there are lots of them. Florida outside… if you’re in Miami, you won’t find that. But if you go further north, if you go into further Saratoga County, if you go to Port Charlotte, if you go further north than that…

Michelle:    Texas, yeah.

Jack:    If you go to Texas, if you go all over the country, there is land that is worth only $5, $10, $15, $20 or all the way up to $50,000 or $80,000, lots of it.

Michelle:    Yeah.

Jack:    Lots of land is available like that.

Michelle:    So there’s a huge volume in that price range.

Jack:    So there’s a huge volume, exactly. There’s huge volume in this price range and you don’t have to do these deals in your home country or even in your home state. And for that matter, not even in your home country.

Michelle:    Yeah, we have…

Jack:    We have people in Jamaica. We have people in China.

Michelle:    In Egypt.

Jack:    We have people in Egypt.

Michelle:    Australia.

Jack:    We have people in Australia. We have people in Germany that do deals exactly using this method in the United States. So let’s continue on this deal.

Michelle:    So that was basically a $4,000 profit.

Jack:    That was a quick $4,000 profit because they ended up as far as we know…

Michelle:    Selling if for $5,000.

Jack:    Selling it for $5,000 cash and getting a $4,100 profit. And again, it becomes a triple whammy, because now as I said you have established a high value. You have established a lower seller financing deal, which is still an amazing deal. Because if you only charged 10% or 20% down payment and a decent interest rate, I mean, you’re opening up the market to everyone out there that could take that deal. And everyone can afford to put perhaps $1,000 and pay $150 a month.

And all of a sudden, it flies off the market just from that. But by offering yet another discount for cash offers, you now make it an absolute irresistible offer. Okay, so that’s another piece of what we told them to do or our team told them to do. And then, they even added one additional piece that I think our team had only mentioned in like a side note, which is that the more they pay down, the lower interest rate they’re actually going to get.

Michelle:    Yeah, because if you have more blood in the deal where they’re paying a higher down payment, so they’re really minimizing the risk on your end of a default.

Jack:    Of a default.

Michelle:    So you want to give them a little bit of a break in the interest rate. So basically, you want to have… either you can establish based on your own money rules, what’s based on the down payment, what interest you’re willing to take over a course of 36, 48 months or however long the length of the note that you issued to them. You want to think about this as well.

Jack:    So when they wrote the ad, they basically said something along the lines of like “Hey, if you pay 10% down, the interest rate is 10.9%. If you pay 20% down, it’s 9.9%. If you paid 30% down, it’s 8.9%.” It’s something like that and you can do the exact same thing. And then ultimately, instead of just putting it on one online outlet, we also asked them to put it on multiple websites. These are websites like Postlets.com and websites like Craigslist.org. And if it’s land, a website that gets millions of visitors every month is called LandWatch.com.

Michelle:    It wants a membership.

Jack:    And LandWatch.com actually charges for it. You pay like $39, $49 a month to put your listing on there, but you have millions of people looking exactly at what you have to offer. And now comes the key. The key is to think about how your ad looks like when you follow these four pieces of advice of, number one, listing it on many places. Number two, anchoring that market value for it. Number three, putting the market price then as a discount. And number four, offering seller financing and the cash pricing at an additional discount.

Michelle:    So make it look like a deal. Pretty much…

Jack:    It looks amazing. It looks like an amazing deal. And now you’re listing sits next to perhaps a 100 listings for other properties in that same area, but they don’t do that. Whose property are people going to buy faster? The people that want $10 grand for their property and just don’t even have any pictures of it or anything like that or your property where you are making a clear case that yours is worth then? They can buy it for $7,000 or they can buy it for $5,000. It’s not even a competition. And boom! As a result of that, they sold the property very, very quickly. Not just one, but four properties in a matter of just two, three weeks. So here’s property number one. They bought it for… You want to read them off Michelle? The properties and which one they sold?

Michelle:    Okay.

Jack:    Property number one… I will do property number one, and Michelle then does number two, three, and four. Property number one is the one we already talked about. Cheap property, there’s an abundance of them. There’s thousands and hundreds of thousands of them all around the United States. They bought it for $900, sold it for $5,000.

Michelle:    Yeah, the second property they actually purchased, it was net to the seller $1,900 and they sold it for $7,000.

Jack:    All right. That’s another $5,000.

Michelle:    That’s another $5,000 profit. Then property number three, they bought for $1,100, and they sold it for $6,900, so that’s like about $6,000.

Jack:   $5,700 in profit.

Michelle:    Yeah. And then property number four, actually the seller…

Jack:    Paid a little bit more.

Michelle:    …Paid a little bit more. They actually paid $4,500, but they sold it for $15,000. So that’s…

Jack:    $10,500 profit.

Michelle:    $11,000, yeah.

Jack:    What’s the total amount together?

Michelle:    So in total, it’s about $26,000.

Jack:    $26,000 profit in their first four deals by just experimenting, trying this out, just following the guidelines that we’ve given them, and following these four steps.

Michelle:    Yeah. And actually here in their e-mail, they said, “After a session together, we were able to implement the following tips,” which are the ones that we just discussed with you. “And we were successful in putting buyers under contract for all four properties in less than two weeks and close on them in less than a month.”

Jack:    All right.

Michelle:    So that’s basically really what differentiating yourself from the competition will do to you in terms of sales of your land.

Jack:    Right. And that’s what happens. So therefore, very simply, if you… That’s what we do. That’s what this technique does and that’s what Alynn and Jorge have successfully done together. So again, we have a free course for you. If you want to know about that or more how to do this, you can go to ForeverCash.com/Freedom. And all the notes of the podcast and things like that are in ForeverCash.com/Podcast.

Including if you click on this podcast, you can go down there and somewhere at the bottom of that part, you can click another clink and actually leave us a feedback on it. And again if you want, somewhere there on the website, there’s also going to be a phone number. If you want to talk to us, if you want to find out more, by all means, contact us. If you also have questions, you can put right under the podcast, under ForeverCash.com/Podcast, you can put comments. You can put questions in there. And we’re also available on Facebook, right?

Michelle:    Yeah.

Jack:    We’re under Facebook.com/ForeverCashLife. You can just go unto Forever Cash Life in Facebook and just put a post or something there.

Michelle:    Yeah, ask us any questions. We would love to answer your questions…

Jack:    We would love to answer your questions.

Michelle:    …During the course of upcoming podcasts.

Jack:    All right. So with that, do you have any kind of finishing words, Michelle?

Michelle:    No, I think this was good and like I said, it is beautiful to see that when the work ethic is there, when the right strategy is there, when the momentum is there, things start to fall into place and start to happen. And if you can just basically maintain that momentum and that positive things happening and coming into your life and you’re pre-planning it such so that does happen, it can really be a game changer.

Jack:    Yes. And sometimes you can go from struggling to make $26,000 in a matter of 30 days by just making some slight distinctions, some slight distinctions on how you integrate it into your existing life and how you can actually make it happen.

Michelle:    So that you can consistently, month after month, start making $25 grand in a month.

Jack:    Because the issue was not that they weren’t hard working.

Michelle:    Yeah.

Jack:    Of course, the issue was not that they are not smart. They’re smart. They’re very smart like everyone else. And their issue was they struggled in how to integrate it into their current life. And with a little help, they were able to get there and see as a result sell those four properties and put them under contract in less than two weeks and close on them in less than 30 days. I’m super excited for them. Again, ForeverCash.com/Freedom and ForeverCash.com/Podcast. There’s all the notes. And all the links we talked about are on there. With that, I say goodbye and till the next podcast.

Michelle:    And thank you very much and we will see you on the following one.

Outro:    Thanks for listening to the Forever Cash Freedom Podcast. Subscribe now for future content-packed episodes on how to push the ejector seat on your financial hamster wheel and discover our radical way to freedom and wealth through cutting-edge real estate investing strategies. To learn more about living the “Forever Cash” lifestyle, investing smartly and becoming financially free, visit www.ForeverCashFreedom.com to claim your free “Forever Cash” Starter Kit today!