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Sallie & Freddie Get Kicked in The Fannie!

Sallie & Freddie Get Kicked in The Fannie!

There is a lot of talk these day about the Federal interest rates.

Are they going up, are they going down, what will happen next?

A lot of investors are wondering, distracted and some just waiting for the market to “cool” down before they get in. But the opposite is true!

Now is the best time, especially with this strategy that I am about to share with you. I have been doing this for years. Recently this method went unnoticed, no one cared, it wasn’t on TV, even investors didn’t talk about it at investment groups. But that didn’t stop me, I guess because I like to do things before the waves form. I look out into the ocean and see what’s coming next and start.

This strategy has gained more popularity and status in the recent years because of the biggest bank crisis ever in US history and I will share it with you here…

Did you know that more millionaires were made after the great depression than any other time in American history until recently?? The numbers are staggering and the tables are being over-turned. Here’s what I mean. In 2008, when the “credit crunch” hit the world, banks froze up so much that it seemed like even oxygen was going to be lost…

Jobs were downsized, businesses forced to close, bankruptcies hit all time highs, and sadly people took their lives because they couldn’t handle the pressure of a shrinking economy and a banking strategy that could no longer be trusted.  And that’s when the government had to step in.

This became the newest and biggest financial collapse the world had ever seen.

However, there was a few investors that looked at “rebuilding the economy” as a rehabber would. Gutting it all out. Putting on protective glasses to see through the dust that has taken years to settle and they went to work on a strategy called Owner Financing. A strategy that allows investors to work directly with homeowners WITHOUT the “big” banks getting in the way with their loopholes and “over extended” ways.

I too had a pair of those protective glasses! Let’s just say I have learned from past experiences that it’s important to come prepared so you see when the going is going to get dusty.

When other investors saw what I was doing and how I was still turning deals in a “tight” financing market they wanted some glasses too. So I showed them how to get them and use them to get great deals during this crisis.

Hey, I hope you like my examples here, but the point I am driving home here is that there is a lot of talk from the media about what could or couldn’t happen with interest rates and the economy but don’t let it stop you from investing. Get started now.

At the link below is a training I put together for you on how you can start using this same strategy that I used while everyone was panicking. I was closing deals and making money.

Here it is: http://filthyriches.com/

After you watch this, let me know what you think okay?

Larry Goins, Author

Where To Find Filthy Riches Homes

Larry Goins here and I have spent years perfecting my Filthy Riches model to real estate. If you haven’t heard about my Filthy Riches model, it is all about making more money on a run down $5,000 – $10,000 house no one else wants than most investors make on a $100,000 house…Guaranteed!

Yes, believe it or not, you can pick up a great deal on a $5,000 – $10,000 house and sell it for 3-6 times what you paid for it with no buyer’s list. More about the model later. But where are the properties that I target to generate so much personal income?

The houses in this program are low-income, distressed properties that no one else wants, just not the “dog with fleas” homes. They will need some work before moving in, they just aren’t going to be in too bad of shape. The idea here is you want fixer uppers, not blower uppers. Something that is either livable or close to livable.

These homes might have been on the market for a while for real estate agents, but they are very attainable at a cheap price and with the right approach, can be amazing money making ventures. And the best part is you can buy them at 20-40% of the list price.

So, with all the houses out there that might fit the criteria of a Filthy Riches house, where does a potential investor begin? Some of the most profitable and fastest ways to locate these houses are below.

Vacant houses: We’ve all seen them, the “It’s a Wonderful Life” types of homes. You see tall grass, maybe a window broken or a shutter has fallen down. You know, the kind of house that some people might make fun of…but for the right person, it’s everything they’ve wanted and a huge money maker for you.

In a typical deal, the property owner might have inherited the house from a relative or bought the house as a rental property, but is tired of being a landlord. Or the last tenant skipped town and the property owner hasn’t been able to generate the funds to fix the house up to re-rent it. It might be difficult to find the owner of a vacant house. Most counties have tax records online so anybody can look up a homeowner with the correct address to plug in. In fact, you may just find someone willing in the local tax department to steer you in the right direction, particularly if a home’s taxes are in arrears. Or, you might be able to solicit information from a neighbor, either personally, or through their information via county records and people finder sites.

One “last resort” method that I learned a while back that has been used: take your own “for sale” sign and plunk it on the lawn with your name and number on it. Invariably, the message will get back to the homeowner, who will call you to find out why you put a sign in their yard. This is kind of sneaky but it works. And hey, no harm done.

If you do have the homeowner’s name, you can contact a credit reporting agency and buy a “credit header.” These look like credit reports on a person – minus their actual credit information – which contains all their contact information, including current phone numbers. To find a qualifying credit agency, just Google credit header.

Realtors: Many properties can be found directly through real estate agents. Before contacting one, you might want to look through their website or realtor.com for properties under $30,000. From here, you can contact the Realtor and use a script and projected offer that we discuss in the Filthy Riches course. Even if they don’t have anything readily available, you can always ask them to put you on a notification list if they get more properties under $30,000.

So, why would Realtors be willing to work with you if they’re only getting a 6% commission on a house listed for $30,000 that you pick up for $10,000? That would only be $300, right? Wrong. Many listing agreements have a minimum commission, which research has shown can be around $1,500 per property.

REO Realtor: A third option is to locate and utilize a local REO (real estate owned) Realtor. An REO Realtor is a person who works directly with banks or asset managers who have foreclosed on a property.

Call one of these Realtors and ask them to pull up a report for you that uses these words: REO, Bank Owned, corporate owned, Seller Addendum Required or Foreclosure. These lists will have the coordinating listing agents that worked on these properties. From there, you have a new list of Realtors that work with banks and asset managers who traditionally work with these types of properties.

Bank Owned REOs: You might also be able to find properties on bank’s REO websites. This is a great way to look for properties that are listed before a Realtor has a chance to list it on the MLS or their own website or Realtor.com. If you’re looking to get a jump on the competition, this is a great avenue to explore because you can find properties before other investors have even seen them.

Free Classified Sites: You can use sites such as Craigslist to search for properties or to list your own ad to get homeowners to contact you. If you’re looking for property, be sure to use search criteria such as “handyman special”, “fixer upper”, “cheap”, “cash”, etc.

Houses for Sale Sites: These are similar to classified sites, although they are tailored specifically to real estate transactions, both selling and buying. Sites such as propbot.com are classified sites but are real estate specific.

eBay: You can find some great deals on eBay, although you might have to do a little weeding through the ads. Go to realestate.ebay.com and use similar keyword searches as you would for a classified ad. Additionally, if you bid and buy a house through eBay, make sure you get a general warranty deed or special warranty deed. If they are offering a quit claim deed, it may be because there are back taxes or code enforcement issues involved. Regardless, title insurance will help verify that there are no back taxes.

Auctions: Look for local auction companies and make sure you are on their regular mailing or email list. Also, search websites such as auction.com for properties. Attending live auctions can also help you build your buyer list.

Code Enforcement: Local code enforcement officers can tell you what properties may have code violations against them. They may not be able to get a hold of the owners or the owner may not have the ability to fix the code issues. Some code enforcement officers may be hesitant to provide this information to you, but these records are public information.

A Few Other Sources: Other sources of property information are property management companies (who work with low end property rentals and might know who wants to get out of the business), hard money lenders (who make rehab loans and may have to foreclose on a property for nonpayment), bird dogs (someone who house hunts for you) and “for rent” signs. Often landlords may be willing to sell their properties.

These are some great areas to look if you want to focus on the fastest, best and easiest ways to find properties in order to start making money as soon as possible.

Larry Goins is an author, speaker and coach for real estate investors. His best selling books are: Getting Started in Real Estate Day Trading and HUD Homes Half Off! For more information on the Filthy Riches model where you can learn how to earn returns of 119% – 788%, visit LarryGoins.com or call 803-831-2858.

#CheapHouses, #RealEstate, #RealEstateInvesting
#Articles, #BuyingInvestmentProperties, #HUDHomes, #MobileHomes, #SellerFinancing

Are you in over your head?

This student stumped me…

Recently, I finished speaking to a room of Real Estate Investors. Normally, I have a few investors that come up to me asking for additional questions and I share with them answers and tips on how to build their Real Estate business with the strategies that I teach.

But this time was completely different…

I didn’t know how to respond at first because of her tone of voice, I was taken back…

Mary (I changed her name to protect her privacy) stormed to the front of the room, coming towards me with her eyes locked on mine. I knew she had something important to say or she was just mad about something…

“I want to stop learning and start earning!”

I was lost for words.

Not sure what to say I replied, “How do you mean?”

She continued to pour her heart out…how tired she was, staying up late every night to watch videos and listen to trainings…you can tell she was way over her head trying to learn everything from everybody. She was spinning her wheels and on information overload! Mixing one strategy into another. She was confused.

“Where do I begin?” She asked me.

It’s in these moments that I would normally throw out a funny joke to lighten the mood but I knew this woman, who I just met a few minutes earlier, wouldn’t understand my humor right away…so I continued to ask her about her current situation and about what she was trying to accomplish.

I listened.

After she poured out her questions, I gave her a step by step way to help her achieve her goals and I will share these same tips with you here in just a minute.

Today, there is so much education available out there at your finger tips. With the power of the internet, there are more people online sharing how to do this or that with just a few simple steps. But the truth is, which most people find out later, is that it’s not that easy. It takes work and it can be hard at times. Sometimes your will is the only thing that will pull you through, so you will need a strong one.

Listen, I’m not going to say that I have all the answers, because I don’t. What I can tell you is that I have created a fool-proof strategy that a high school kid can use. I say that because I only finished high school and have made millions of dollars using my strategy and have helped others make a lot of money too. There is no doubt in my mind that by using my strategies and following the checklist, step by step, that you can’t help becoming successful.

You know, most of the time I think we over complicate things. Most of the time we think that things are supposed to be harder than they seem. Well, have you ever heard it’s better to work smarter than harder? That’s what I enjoy and that’s the same thing I shared with “Mary” that came up to me asking how to get started.

Sharing the same strategy with you here: http://www.filthyriches.com/

I want you to become as free as you want to be. It’s up to you!

A few weeks after Mary got her copy of my Filthy Riches System she followed the simple step-by-step checklist, she made offers, got one accepted and closed on her first deal, all within 42 days!

This same system that Mary used to get her first deal is what you can use to acquire your next deal.

Go check out this free training that I put together for you and let me know what you think:

http://www.filthyriches.com/

As always, I have Education Advisors standing by to help you get moving! Just call the office Monday – Friday, 9am-5pm EST and ask to speak to one. Our number is 803-831-2858. I’m in the office most days and might even get on the phone with you if I am available!

#Coaching, #FilthyRiches, #LarryGoins, #Mentoring, #OwnerFinancing, #RealEstateInvesting, #SellerFinancing
#Articles

Who is Larry Goins? An Insider’s Perspective

You might have wondered who is the real Larry Goins? Not the Larry Goins that speaks from the stage on Real Estate Investing but the REAL Larry Goins. The man that family and co-workers see on a daily basis.

As Larry’s right hand “man” for most of the last 12 years, I thought I knew him pretty well until a few weeks ago. What happened a few weeks ago? Well, I detached myself from my job and became the student. I immersed myself in one of our Inner Circle programs and went through the entire week as a full on student. I gotta say….it was surprisingly enlightening. I saw for the first time through a different set of eyes. I saw his passion for teaching in all its glory.

It got me thinking. How did I miss this for so long? How do others here in the office see him? Had I been so immersed in the day to day business “to do” lists that I failed to see what he was actually contributing to the world? Had I really gotten caught up in the minutia of running a business that I had lost sight of things and the people around me?

I really wanted to see how Larry, as a person, was perceived by both old and new employees alike and my newfound impression held true.

Here are some quotes from staff, both old and new, in their own words when asked…How do you see Larry Goins both in the workplace and as a leader?

Andrew Kinne, Education Consultant, wrote: He is a great person who’s gone above and beyond the call of duty!

Daniel Boissonneault, Marketing Specialist, wrote: Larry, in my eyes, is a leader, entrepreneur, goal getter, and family man. He always has an answer to the questions before you ask them. Motivation is just the start when you meet Larry.

Dean West, Advanced Education Consultant, wrote: Larry is a man who is sincerely concerned about the well-being of his students and their passion to be successful in their investing of real estate. A man who is willing to share his knowledge of real estate to help others improve the quality of their lives.

Nathan Amaral, Head Coach, wrote: The Man, The Legend And The Myth. PS-Willing to listen, searches for answers and considers how others feel.

Cicely Mack, Accounting Manager, wrote: Larry always shows gratitude which helps develop a strong sense of self-worth that often outweighs the typical pat on the back. He also encourages interaction within our team so that we succeed or fail together.

Cortney King, Advanced Education Consultant, wrote: Larry is the bomb.com! Hands down the best CEO I’ve ever worked for. I love the way he interacts with everyone. In other companies when do you ever get to cut up with the CEO??? I can’t think of any 🙂 He inspires me to be a better person and hands down a better employee! Larry has made this company a place you can come, make money, laugh ALOT, meet new people, and have a great non-stressful workplace!

James Rushing, Education Consultant, wrote: To me, Larry is a man of God and of family … He is a true leader … and cares about the people around him.

Deirdre Baker, Education Consultant, wrote: Larry is an enthusiastic and inspirational leader who not only tells you how to succeed but leads by daily example. Thanks, Larry!

Jim Adair, Education Consultant, wrote: I haven’t known Larry long professionally but what I see is a dedicated man of Faith, Family and eager to share. I have on the other hand known Larry personally for a long while and guess what, he is that same guy….authentic which is rare.

And last, but certainly not least, is Ron Devine, Advanced Education Consultant who wrote: Larry is the guy next door, extremely humble, a heart with no boundaries. Always looking to improve the lives of everyone he comes in contact with.

Hmmm….I think it’s pretty unanimous. Larry is an all around great guy and what you see at events and on stage is the same, exact man we see here at the office. Every. Single. Day. That’s right. Larry Goins comes into the office and mingles with us all on a daily basis, usually being the very last one to leave at the end of each day. You might be wondering, why would a man of his caliber and knowledge and “famousness” (yes, I know that’s not a real word), work in an office like a common staff member. The answer is simple. He IS one of us and he lives and breathes every single thing he teaches.

Isn’t that the type of mentor you want to hitch your wagon too?

 

#Coaching, #LarryGoins, #Mentor, #RealEstateInvesting, #TeamGoins
#Articles, #Coaching, #Inspiration, #What’sGoinsOn?