I have a special guest today: Larry Goins. I’m excited about having Larry here—I’ve been learning from him since I started in this business. And I’m still learning from him through our Mastermind group.
Larry got started in real estate more than 30 years ago. He actually started based on an infomercial by a guy named Tom Vu. Look up Vu on YouTube.
Real estate education was sparse when he started, just a few seminars and late-night infomercials. He got a real estate license and dove in…
He started doing remote deals early on. One of the first deals he did was three hours from his home. He bought the house based on photographs, no visit.
After doing that once, he figured he could replicate it. Thank goodness for phone, fax, FedEx, email and internet. Of course, now he’s adapted to using new tools.
He prospered after the recession with MLS and HUD listings, and wholesaling most of these properties.
He still uses HUD listings, getting 3-6 deals a month from them. Many of the investors he works with are using their self-directed retirement accounts. Larry reminds us to “seek wise counsel” when dealing with IRA investors.
Listen and learn…
- Automation tools change A LOT… for instance, DocuSign instead of FedEx
- Larry focuses on North and South Carolina, but has done deals in 12 states
- Attorneys and Larry’s staff can solve most problems that come up
- 10 years ago, Larry used MLS and HUD listings to find deals (still does)
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Larry’s book: Real Estate Day Trading
- Larry’s book: HUD Homes Half Off
- Business at The Speed of Thought by Bill Gates
- The E-Myth series of books by Michael Gerber
- Hypergrowth by David Cancel
- Self-directed IRA companies Larry deals with: Equity Trust, Quest IRA, CamaPlan
- Larry’s podcasts: BRAG and Brain Pick a Pro
What are you thinking?
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