This is Adam Ackerman, Student of JT’s and now head Coach/Mentor.
For many of you who don’t know who I am. I am a full time real estate investor with Jt and on my own. I started out like most of you, not knowing how to do my first deal, but knowing that this is something I wanted to do for the rest of my life. Having said that, I had done a few deals on my own and with a few other partners, but nothing with any true consistency. I met JT in December of 07 and signed up for his Get Rich or Die Broke course and immediately started following his program step by step. A few months later I had lunch with JT and asked him if I could mentor with him. I was able to watch how he negotiated deals, spoke with home owners, talk with investors and so many other things that I can say I was blown away. It was well worth the money I spent because it totally eliminated the learning curve for me. These past 6 months have been a roller coaster of excitement and frustration. I am now proud to say that I have done over 20 deals this year alone and am on pace to do about 50 deals over the next 18 months. It changed my life so much that I asked JT if I could share my experience and knowledge with you..His students. So as of August 2008 we have launched a Real Estate Success coaching and mentoring program designed to help you get to that next level no matter what your current situation is.
Part of what I bring to the table is the ability to think outside the box and come up with fresh ideas, so this past Friday, I took 4 of my students on a property tour around the Chicagoland area. Let me tell you it was a HUGE SUCCESS!!! We saw 5 properties and are currently making 3 offers. The home in this picture is a 4 bedroom 2 bath single family home in Des Plaines Il. It is currently a short sale we are working on and looks very promising. The high current sale in this area is for $290,000 dollars. We plan on picking this home up for $140,000 and spending $50,000 on improvements bringing our total investment to $200,000 with closing costs and everything. We are paying cash for this property so we do not have any carrying costs other than property taxes. Once we close we will have this back on the market for $290,000 and hopefully close within 90 days of purchase. Netting us a profit of about $75,000 or so . The best part of this deal and all the deals we do is that we teach all our students to make sure you have at least three exit strategies for your properties, especially in today’s market. For instance lets say we purchase this property and have a difficult time selling than we would try to whole sale the property for $245,000 dollars leaving plenty of room for profit for the next investor or primary home owner. If that does not work we can do a lease option or rent-to-own scenario with a family. This will cover our expenses and cash flow for the next 2 years. Regardless off the market we have a exit strategy for it.
The other 2 properties we are making offers on are also single family homes. these are bank owned properties that need at about $100,000 worth of rehab in each one of them. This is a more advanced investment, but this is again what we teach our students so that when they see an opportunity they know what they can and can not do and also how to either flip it as a whole sale deal or do it themselves.
I am very proud of these guys..they asked some great questions, got involved with the properties, ran the numbers, took lots of pictures and also have gained some very valuable real life experience. I spoke with Jt and we have decided to take the show on the road. If you are interested and currently signed up for JT’s next two day event on October 25th-26th than we would like to invite you to join us on a property tour Friday October 24th starting at 10:00 near the Des Plaines area. We are limiting this tour to only 20 people so first come first serve. That is why it pays to read JT’s blog, from time to time we will post great opportunities such as this. Our goal is to look at 6-7 properties and make some offers with you the students. Please RSVP your NAME, ADDRESS, TELEPHONE NUMBER AND EMAIL and NUMBER OF GUESTS to
[email protected] – I will respond and let you know I got your email and let you know if you are in. If you don’t make it this time we will most likely have another tour in early 2009, but that is a long time away. If you are also interested in learning more about the coaching and mentoring programs please also email me at the following address.
Till next time profitable investing
Head Coach and Student of JT