My Favorite Student, Jack.
I just got off the phone with one of my favorite students. He has been with us for about five years and I use him in many many examples throughout our various learning products. His name is Jack and he has bought and sold approximately one property per month for the last five years. He just told me that he makes a little over $6,000 a month in payments, and that it’s enough to easily quit his job, but he’s one of these people who really loves his day job. He is a framer for new home construction. So he can work his many hours as he would like or not like. By the way, new home construction is the primary industry in the Scottsdale Phoenix area.
His phone call prompted me to write this blog today. Here’s the math:
5 years is 60 months (12 x 5). One transaction per month equals 60 transactions. If he is receiving a $100 payment per transaction per month that equals about $6,000 a month. $6,000 times 12 months equals $72,000 a year. After tax, that ends up being pretty close to about $5,000 a month.
Jack just informed me that he’s really only interested in doing approximately one transaction a month from here on out. I have other students who attempt to complete as many transactions per month as possible. Like a race against time.
He is one of my favorites because jack isn’t the brightest bulb in the box. This program turned out to be a success with him, anyway. It just goes to show that our concept can work for just about anyone.
If you are interested in learning more about how to buy super in-expensive property and selling it for more, drop me a note at steve@LandAcademy.com
And make sure you download our free eBook. It covers these topics in pretty good detail, and lets you know what you can expect from the self-study course.
Here’s the audio version of this blog (like a book-on-tape) with my commentary (like the director’s cut of a DVD movie):