Hey, everyone! Larry Goins here. I wanted to give you a quick heads up that I just reviewed one of my student's real estate videos at The Coaching Club. This was a neat and quick look at how to and how not to sell real estate online with all the tools for videos.
Check it out!
http://www.thecoachingclub.com/articles/commercial/how-to-sell-your-real-estate-with-videos/
Tuesday, June 30, 2009
Friday, May 1, 2009
Check out how I'm blowing away the Greedy Giveaway
Only two days left for Greedy Giveaway.
Yes, only 2 days.
This is just a quick reminder just in case you've not
had a chance to get your scoop of Greedy Giveaway
After 2 days, it will be closed forever and you'll
have to pay for these products :(
Just get it now if you haven't already. As my way of
saying thank you for being my subscriber, I'd not
want you to miss it. When you succeed, I also
succeed.
http://greedygiveaway.com/version4/go/419
{FIRSTNAME}, don't miss this for any reason. It's one
of those once-in-a-lifetime chances that will not come
back.
Warmly,
Larry Goins
P.S. - I'm sure you must be asking asking yourself
"What's the catch?"
There's NONE. You simply enter your name and email,
and you will be given instant access to TONS of
goodies at no cost whatsoever.
Talk about an internet boom... :)
Yes, only 2 days.
This is just a quick reminder just in case you've not
had a chance to get your scoop of Greedy Giveaway
After 2 days, it will be closed forever and you'll
have to pay for these products :(
Just get it now if you haven't already. As my way of
saying thank you for being my subscriber, I'd not
want you to miss it. When you succeed, I also
succeed.
http://greedygiveaway.com/version4/go/419
{FIRSTNAME}, don't miss this for any reason. It's one
of those once-in-a-lifetime chances that will not come
back.
Warmly,
Larry Goins
P.S. - I'm sure you must be asking asking yourself
"What's the catch?"
There's NONE. You simply enter your name and email,
and you will be given instant access to TONS of
goodies at no cost whatsoever.
Talk about an internet boom... :)
Thursday, April 16, 2009
How Newspaper Classifieds Can Deliver You Motivated Sellers
How Newspaper Classifieds Can Deliver You Motivated Sellers
By Larry Goins
When you purchase my course, The Ultimate Buying and Selling Machine, you receive a whole bunch of bookmarks to help you build your real estate investing business. One section is called newspapers and it provides you with valuable sources to find any local newspaper anywhere in the United States that has any sort of internet presence. This saves you having to buy all those newspapers and lets you go straight to each newspaper directly online. You can find them very quickly. Newspapers are a fantastic research for located motivated sellers.
The bookmarks are exactly how I utilize the 10 or 11 different newspapers in my surrounding area to search the classifieds. Once the bookmarks are installed from your Ultimate Buying and Selling Machine course, you can go directly into the newspaper sections. I actually set my bookmarks directly the real estate section of the classifieds, to save even more time. So now I sit down at my computer, click the bookmarks, and quickly scan the classifieds for each newspaper.
This way, I can search all the newspapers for real estate in areas that I am interested in just about fifteen minutes. There is another section of the paper that you will want to look at, too. “Businesses for sale” often will show commercial property available or real estate holdings available from companies that are for sale. You will also want to look at the “For rent” section as that could lead you to landlords who are tired of trying to rent out their property or fed up dealing with tenants.
Using these tools, newspapers can provide you with a lot of great leads for motivated sellers.
Another way that the classifieds can be helpful to you is in running your own ads. Some newspapers use a clearinghouse source such as www.abracat.com which is another great short cut for searching for properties. I have also provided this short cut for you in your UBM bookmarks.
An online version of newspaper ads is www.craigslist.com You can use the same keywords below to find motivated sellers on Craig’s List with property to sell. And www.realestate.yahoo.com is another online source.
There are some specific keywords that you want to look for when searching the classified ads for motivated sellers. Owner transferred, obo (or best offer), divorce, owner financing, no down or low down payment, owner flexible, below appraisal, investor special, handyman special, fixer upper, lease option, rent with option, take up payments, or owner desperate; are just a few of the words that can key you in to a sweet deal as a real estate investor. Another good thing to search for is out of town phone numbers. Out of town owners are often more than ready to unload a piece of property.
I recommend using Mozilla Firefox as your web browser, as it allows you to highlight the keywords that you are looking for. In my DVD tutorial I show you exactly how to utilize this tool.
Another great trick when searching the classified ads is to check the paper on the day that is not the primary real estate day. In our area, Saturday is the day most real estate ads run and Sunday is the day most car ads run. But a lot of advertisers don’t know this – so be sure to check your classified ads on the off days as well. You could very well find motivated sellers who don’t have their phone ringing off the hook.
If your newspaper also has a legal section, that is a great place to search for real estate. Newly filed foreclosures or judgments are great leads for motivated sellers. Also divorce listings can lead to properties available cheap. In our area, properties that are under code enforcement – meaning that it has a code violation and doesn’t meet minimum housing standards – and the owner cannot be located will have a public notice published in hopes of finding the owner. This can be another great source of cheap properties, because the owners don’t want to go to the expense of fixing the property up to meet the code requirements.
With a little bit of practice, newspaper classifieds can be a great source of motivated sellers. Before you even run your own ad, the newspaper can be finding properties for you!
Wednesday, April 1, 2009
How to Bust Debt Fast with Tenants
How to Bust Debt Fast With Tenants
By Larry Goins
There are numerous ways that you can eliminate your debt. They all start out and end up the same way – increase your income and apply it to your principles. One vehicle that you can use to bust debt fast is rental properties.
Let’s assume that you invest in a property at about 70% After Repair Value including your purchase, rehab, and closing costs. Once you have fixed the property up, you should be in a position to re-finance at 75-95% of the loan to value and pull out the cash, your cash, that you original invested in the property. This is Tax Free cash as you don’t pay any taxes on borrowed money. Once you rent the property out, at a positive cash flow, your tenant pays your mortgage AND puts money in your pocket.
So what do you do with this money? Look at your bills. Credit cards, car payments, student loans, your own home mortgage, debt consolidation loans, medical bills, etc. Let’s assume that you have $15,000 in credit card debt. Its probably not at a great interest rate. As a student of my Ultimate Buying and Selling Machine course, you know you can make $5000 to $10000 on each and every real estate deal.
Take the credit card with the LOWEST balance, and pay it off when you refinance your first rental property. If there is any money left, apply it to your next lowest credit card, and so on. In doing this with your Tax Free money you are lowering your debt balance AND increasing your monthly income from the rents due on the property every month. Imagine if you eliminate $250 in monthly debt or loan payments every month AND you increase your monthly income by $250. That’s like getting a $500 per month raise from your real estate business, rather than putting $5000 in your pocket. So at the end of ten months you have increased your income, lessened your debt, and added to your real estate net worth portfolio.
By doing this you are also raising your credit score. Making it easier to finance your real estate deals.
Start by paying off your credit cards. Then automobile loans and student loans. Follow up with medical bills or other old debt. Then pay off your personal mortgage on your residence. Once your own home is paid off, you can re-finance with a Home Equity Line of Credit at prime. That is the cheapest money you can put your hands on.
Once you reach this milestone, and you talk to someone about a property you can actually ask, “What is the least amount you can accept for this property if I write you a check by Friday?” You know you can do this deal because you can literally write a check against your Home Equity Line of Credit. At this point, you are living debt free with the single exception of the properties that your tenants are paying for with their rent checks.
This is one of the very powerful ways that my Ultimate Buying and Selling Machine course can truly improve your quality of life and allow you to spend more time with your family and less time chasing the almighty dollar.
Larry Goins
For many more articles and a 10 part e-course on how to create your own Ultimate Buying and Selling Machine! as well as over 50 training audio recordings you can listen to online, download and collect, simply go to www.TheCoachingClub.com where you will gain instant access to all of this and 51 Exclusive Editable real estate investing Forms and Documents all FREE! You will also get two FREE real estate investing eBooks, A free Personal Coaching Profile to help you jump start your real estate Investing, FREE Nationwide Wholesale Property Listing Notification, FREE Weekly Training Teleconferences with Different Topic Each Week, FREE subscription to
Tuesday, March 31, 2009
Record Home Price Drop in January 2009 Good News for Investors
Record Home Price Drop in January 2009 Good News for Investors
It’s no secret that the key to investing success is to buy low and sell high. Whether you are investing in stocks, gold, silver, real estate, or coffee beans a weak market is an investors dream.
The Standard & Poor’s/Case-Shiller 20 city housing index released on Tuesday, March 31, 2009 dropped by a record 19% in from January 2008. This is the largest decline since the index started in 2000. Their 10 city index also dropped by a record 19.4%. All twenty cities indexed showed both monthly an annual declines.
While this news is dismal for homeowners already inverted or nearly inverted in their mortgages, its great news for investors of real estate. Historically speaking we can expect to see housing prices climb to nearly their heyday of 2006, from where prices have fallen 30%. In 2003 we saw similar lows which reversed in only three years.
Some economists are now saying that March 9th was the bottoming out of the current recession, and home sales are up. This could be the hot time for investors to pick up properties and flip them in a relatively short period of time.
Even though no one can predict exactly when the best time to buy will be, we can learn from past events what the best time to buy was. It looks like right now will be the time investors will wish they had picked up properties.
As always, keeping you abreast of exciting market news to coach you to ultimate buying and selling machine success,
Larry Goins
Monday, March 30, 2009
Setting Goals in Real Estate Investing
How to Set and Achieve Your Goals in Real Estate
By
I want to ask you two questions. One, do you have a Will? And two, do you have written goals for the next one, three, five and ten years? If you answered yes to the first question but no to the second, you are planning more for your death than you are while you are here. Think about it. I want to challenge you to start setting some goals, but remember if a goal is not in writing, it is simply a conversation. It must be in writing and it must have a deadline. Here are a few guidelines for setting goals. Oh, by the way... you need a will also.
Goals Must be Specific
I want you to be specific and include details but start rough. When you start rough for example, you want a Mercedes. You do not have to get into the details about what color, what options, that sort of thing, just write it down. Make your list huge, what kind of home do you want, what you want for your family, college education, spend more time, travel, anything you can think of. You can come back later and prioritize them and set them up as to what you want in one month, three months, six months, twelve months, then three, five, ten, twenty, thirty year goals. The more goals you have, the happier you will be, the longer you will live, and the more prosperous you will be.
Goals Must be Believable
Remember this, your goals must be believable, by you, or you will not pay the price. They must be believable, they must be just out of your reach, but you must know you can reach them, if you really strive to do it.
Goals Must be Measurable
You cannot set a goal to be financially independent. There is no way you can measure that. You need to set a goal for the amount of income you want per month, per year, the amount of equity that you want in properties – one, three, five, ten and twenty years. It must be measurable. That way you can break it down to what I call “reduce it to the ridiculous”. If you know you want to earn $100,000 a year, you know that is $8,333 per month. That’s just one deal a month where I live. One of the things I have learned is, successful people set their goals quickly and they make adjustments as they go along. Just like successful people make decisions quickly, they do not vacillate in indecision or what I call sometimes; get mixed up in a funk of negativity.
Goals Must be Congruent
Your goals must also be congruent with your actions. You cannot set a goal to work harder, longer hours AND a goal to spend more time with your family. Those are not congruent. They must be congruent with your actions.
Visualize What You Want
Another good thing that will help you with your goals is to visualize what you want. If you see yourself as already having achieved the goal, you will fake out your mind and your mind sees the goal as already having been achieved. It’s called “fake it till you make it”. I used to do this all of the time. Just take a minute or two each day and think about life as it is with your goals already accomplished. It’s really easy when you get used to it.
Work Your Goals
The next thing you want to do is work your goals, work on the priority that moves you closer to your goals every day.
Number Your Goals
Number your goals in the order of importance. Not only is the goal important but so is the reason. Sure your want a car, but why do you want the car? Sure your want more money, but why do you want money? You want to be able to spend more time with your family, you want to be able to travel, you want to buy a Hummer, and you want to have an ocean front condo or send your children to the best college. Whatever it is, the reason must be there. The reason is more important than the goal itself.
Review, Monitor and Make Adjustments
Another thing you need to do is review, monitor and make adjustments on your goals. You have to be flexible. Some things are not going to happen, you have to face that; but you need to continuously strive to get better every day. If you will work harder on yourself than you do on your job then you will always be growing. Remember that last sentence and write it down as it is worth repeating.
The Goals Must Have a Deadline
As I mentioned first, your goals must have a deadline. A goal without a deadline is just a conversation. When beginning to set your goals, I want you to set your goals in four basic areas:
Financial
You will set goals based on income, equity or net worth and cash flow. All of these are financial goals.
Fitness
This is your health. If you don’t feel good, chances are that you are not working at your maximum capacity. So, I want you to set some fitness goals to stay healthy. Remember “an apple a day”? What if this is right and you are not doing it? Start small though, you don’t try to tackle all of these at once; but you need to be healthy not only for you but for your family as well.
Family
Set family goals. What is an example of a family goal? Maybe you want to take four vacations a year. Maybe you want to visit a new state, three times a year or five times a year. Maybe you want to go see the Grandparents two or three times a year; but maybe not. Anyway, you get the point.
Faith
You need to set some spiritual goals, some faith goals. I am not going to get into a lot of detail about that but that will help you along your way. Remember, if you slip in one area of your goals, you are probably slipping in some other areas. Another thing I want you to think about is the people you associate with. Take a minute and think about this. If you think about your ten closes friends annual salary and divide it by ten, then that is pretty close to what you make. I’m not telling you to get rid of your friends, all I’m saying is whom you associate with, is who you are like, so please keep that in mind. Don’t get rid of your friends, just get some more that are where YOU want to be financially. Most of the people I hang out with now, we all make over $500,000.00 a year. That just blows me away. I never imagined I could make that kind of money…. Well I guess I could, as we are talking about goal setting and visualization aren’t we?
I hope you have enjoyed this article taken from my course called the Ultimate Buying and Selling Machine! that teaches how we buy and sell 5-10 properties a month, never look at them and have them sold in less than 2 hours. For many more articles and a 10 part ecourse on how to create your own Ultimate Buying and Selling Machine! as well as over 50 training audio recordings you can listen to online, download and collect, simply go to www.LarryGoinsFreeOffer.com where you will gain instant access to all of this and 51 Exclusive Editable real estate investing Forms and Documents all FREE! You will also get two FREE real estate investing eBooks, A free Personal Coaching Profile to help you jump start your real estate Investing, FREE Nationwide Wholesale Property Listing Notification, FREE Weekly Training Teleconferences with Different Topic Each Week, FREE subscription to
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