Guest Speaker: Larry Goins
The Keys to Successful Seller Financing with Larry Goins, veteran real estate investor and Founder of The Goins Group and Investors Rehab, Inc.
Larry H. Goins has been investing in Real Estate for over 20 years. In the past, he has served as President (2003 & 2004) of the Metrolina Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association. Larry is an active real estate investor and travels the US speaking and training audiences at conventions, expos and Real Estate Investment Associations on his strategies for buying 10-15 properties per month without ever leaving his office. Between speaking Larry engagements and mentoring other Investors, he oversees the daily operations of Investors Rehab, Inc., is a real estate investment company that buys and wholesales 10-15 properties per month to other investors. Larryis the host of the BRAG Radio Show (Be Rich and Generous) and The Brain Pick-a-Pro podcast. As a Husband, Father, Business Man and Real Estate Investor, he holds true to his core values and moral integrity. His personal and business motto is, “People & Principles before Profits.”
What you’ll learn about in this episode:
*The two different types of seller financing, buying and selling
*Seller financing when you buy, where if you can’t come to the right price with the seller, you offer to give them their price but on your terms.
*How selling a property with seller financing allows you to create cash flow without taxes, insurance, repairs or maintenance (or dealing with “tenants, trash and toilets.”)
*The details of Larry’s “filthy riches” model – buying dirt cheap houses nobody else wants and selling them for three to six times what you paid with owner financing.
*The surprisingly easy way Larry finds buyers – and the reality that there are many more people looking for owner financing than there are cashed buyers looking to do deals.
*His insightful book HUD Homes Half Off, which teaches how to buy HUD houses for pennies on the dollar
*How Larry finds the properties he buys (including direct mail, his website and Facebook marketing)
*The geographic scope of Larry’s investments and deal making
*The value of reaching out to people outside a major city’s MSA via old school marketing tools like postcards
*The surprisingly brief amount of time it takes Larry to buy a house over the phone
*The art of buying cheap houses that sit alongside higher priced ones – and how much they may be worth once you do simple upgrades.
*Buying houses for the shockingly low price of $9000
*Why Larry hates rehabs
*The parameters of a property that would lead him to sell it on owner financing – essentially, with payments comparable to rent for around three to six times what he paid for it.
*Some of the problems that prevent selling a house with owner financing, including major repairs like rewiring or plumbing issues
*How to buy a $100,000 property when you don’t have that kind of money to invest.
*Why a seller would sell you a property on selling financing, including depreciation, “cost sags” and the reality of getting older and being longtime “tired” landlords.
*How seller financing can help sellers keep a cash flow without a tax bill and without dealing with “tenants, trash, termites and toilets” – and the value of a great CPA in making that happen.
*How Larry got started in real estate and how his business grew to what he is doing now, which includes training students
*Larry’s belief that “Anybody can teach anybody how to do this. The difference is, the student has to take the action.”
*While Larry lacks a formal college education, he spends $30-40,000 a year on his own education
*Larry’s current media activities, including Brag Radio, which he broadcasts via Facebook Live, teaching people how to invest in real estate while becoming a blessing to others.
*Larry’s faith centered charitable work, including involvement in helping the homeless and children’s ministries – and why he focuses on helping grandparents who are raising their grandchildren.
*Special offers (including a free book and free filthy riches video) for those who call 877-LARRYGO
Resources:
877-LARRYGO
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