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Five Steps to Get Your First Deal in the Next 30 Days

SHOW SUMMARY:

In today's show, Larry and Kandas talked about the specific steps you can follow to score your first deal. While they primarily tackled wholesaling, they also shared some beneficial resources you can make use of. Listen and learn more!

SHOW HIGHLIGHTS:

  • Two quickest methods for Larry:
  • - Wholesaling
  • - Seller-financing
  • Using other people's money to get started
  • 5 steps:
  • #1 To Analyze a deal
  • - Take the ARV (After Repair Value)
  • #2 Funding
  • - Line up some money.
  • - Doing assignments
  • - Options
  • - Assignment of beneficial interest using a trust
  • - Create LLC
  • - Private money
  • - Using RIA
  • #3 Marketing
  • - Run some ads on Craigslist
  • - Put up bandit signs
  • - Do direct mail with post cards
  • - Flyers
  • #4 Making offers
  • - Make your offer in your first phone call.
  • - Sign up for email notifications with realtors.
  • - Have the realtors make offers for you.
  • - Use written offers
  • - Have your VAs submit offers
  • #5 Sell the property fast
  • - Build your buyers list

QUOTES:

  • "Get pass the fear factor and you got to be ready to move forward."
  • "It's very important that your first deal is a home run."
  • "If you're not embarrassed by your offer, it's probably too much."
  • "You buy houses. You don't get sold houses."
  • "You tell them what you can pay."

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

It’s time to BRAG, Be Rich and Generous. BRAG radio is hosted by bestselling real estate investing author Larry Goins and cohost Kandas. For the next hour they will show you proven and effective ways you can be successful in real estate. From the WBT studios the flagship station of the Brag Radio Network, here are your hosts, the rock stars of real estate, Larry and Kandas.

Larry: Hello, hello, hello.

Kandas: Rock stars, I got to figure out an instrument to play and not just the air one.

Larry: Well you know you wanted me to teach you guitar lessons, you brought a guitar in.

Kandas: You tried.

Larry: You’re right, I did. You brought it in the office and I gave you one guitar lesson and I never saw it again.

Kandas: So there was a disconnect with that Chad.

Larry: What happened? Was it me?

Kandas: No, the disconnect was I can play guitar in my head.

Chad: You can shred in your head right.

Kandas: It is amazing.

Chad: Yes.

Larry: Hey I’m Van Hailer in my head but it doesn’t make it a reality.

Kandas: What I can do is this world has no idea. But then when I pick it up and I try to play a G, I think was the chord that you taught me, it was awful. So I just think I like what I hear in my head.

Larry: Better.

Kandas: Yeah a lot better.

Larry: That’s funny.

Kandas: If I just keep being- yeah.

Larry: That’s funny.

Kandas: So that was the disconnect with that, but there’s lots of other instruments. So maybe I’ll try my hand at something else that I don’t have a preconception in my mind that I can play.

Chad: How about the bagpipes?

Kandas: No. Try again.

Larry: She’s a tough student too. She’s like I’m trying to teach her the G chord it’s like, “Is that the one like you’re giving somebody the finger?” yes Kandas that’s the one.

Kandas: One lesson it took and he was done with it. I was done with it too, which is disappointing for me that it didn’t just happen like it does in my dream.

Larry: Oh that is hilarious.

Chad: Hard work, you have to put the hard work in.

Kandas: I’m going to find another instrument.

Larry: The only place success comes before work-

Kandas: Listen to the wide lessons coming out of this now.

Larry: Is in the dictionary, right.

Kandas: You guys are listening to BRAG Radio all about investing in real estate to be rich and generous. We do generally talk about real estate on the show.

Larry: I’m really excited about this show because this-

Kandas: You’re always so excited.

Larry: That’s funny that’s the way a lot of my videos start out. Hey this is Larry and I’m really excited.

Kandas: With his hands up too, you guys have seen it I know you’ve seen it. Hands up in the air and fingers like jazz hands all spread out.

Larry: That’s funny, she makes fun of me too.

Kandas: This is the best video ever, it’s same as [Inaudible] [03:00].

Larry: Today. That’s hilarious. If you don’t already follow us on Facebook, facebook.com/Larry H Goins right.

Kandas: LinkedIn or Twitter or Periscope or Google Plus.

Larry: Yeah because we got.

Kandas: Anything and everything.

Larry: Exactly. So I am really excited today.

Kandas: Of course you are.

Larry: Literally because we’re going to talk about five steps to get your first deal in the next 30 days.

Kandas: And get it done.

Larry: I am excited about it.

Kandas: So weird.

Larry: So we’ve had a lot of people that have asked, okay I know because they ask me.

Kandas: Most of the time yeah that’s the way that went.

Larry: They ask me, “Larry what’s the shortest, fastest, simplest easiest way that I can get a deal in the next 30 days, right?

Kandas: Well your name is everywhere and your face is plastered on everything that we have, in one two or three places throughout.

Larry: Somebody mentioned that to me last night.

Kandas: So why would it not be you they ask?

Larry: That’s funny. So yeah I mean there are specific steps that you go through to be able to get your first deal okay. Now I can talk to you about a couple different ways that you can get deals whether it is wholesaling or seller financing. And I do love seller financing and I also love wholesaling, those are the two models that we do. However what I’m going to share with you during this episode

Kandas: Would seller financing- oh hold on one second.

Larry: Go ahead.

Kandas: Would seller financing actually be considered more or less what we do now with the lease options?

Larry: Yeah. Either way to put it.

Kandas: Okay.

Larry: I call them HITs Homeowners In Training.

Kandas: I know, I’m aware what we call them.

Larry: Maybe they’re not.

Kandas: Oh they listen to this show, you listen you know and I know y’all pay attention.

Larry: So the two quickest methods are wholesaling and seller financing in my opinion. There’s a lot of people out there that are teaching fix and flips. I’m not a big fix and flip fan, I hate rehabs, I literally hate rehabs.

Kandas: He’s not exaggerating.

Larry: Don’t want to work with contractors, I’m licensed contractor and I hate contractors okay and I’m a licensed GC myself okay. But I hate rehabs I shouldn’t say I hate contractors.

Kandas: You know what’s so funny about this Chad, how much he hates rehabs, Matt and I are remodeling our house, do you know who I called?

Chad: Larry.

Kandas: Yes.

Chad: He can do the work because he’s a licensed general contractor.

Larry: But I won’t do the work.

Kandas: He hates them and he’s like one of the first to be like, “Hey I’ve got this guy he came over he told me this, can you come look at this right because I just don’t know.”

Larry: No, sure.

Kandas: I was like, “Will you help Matt because he’s willing to learn how to do this stuff too. And if he helps somebody else they’re going to probably charge me more.

Larry: And what did I write down for you? YouTube.

Kandas: Yeah.

Chad: You can learn anything on YouTube.

Larry: That’s right.

Kandas: It’s so funny. I didn’t even think about how much he hates three hours before asking him to help us remodel the house.

Larry: That’s why you laughed before started telling this story huh?

Kandas: Yes it is.

Larry: That’s funny.

Kandas: It just now clicked.

Larry: That’s funny. So we’re going to talk primarily about wholesaling today and how you can get your first deal in the next 30 days because you could do seller financing. And seller financing is much easier to sell the property, but there’s a two-step process if you need to actually cash out of the deal okay.

In other words if you need to buy a property and then if you’re going to seller finance it, you find the buyer that’s going to put a few thousand dollars down, and you’re going to finance it for them. But then if you need to cash out, you have to sell that note, right so that’s an extra step. Now if you had no buyers lined up and you have everything lined up in advance, it’s okay.

It’s just as fast as wholesaling. However, wholesaling is going to be quicker if you don’t have no buyers lined up. Does that make sense? Well first thing you got to do, is you got to get past the fear factor okay. You got to get past that and you got to be ready to move forward.

Kandas: And you know that that is easier said than done.

Larry: I know it is, right. I mean there’s a lot of people they, “I got no money. I’m working a fulltime job. My family doesn’t believe I can do it. I can try other programs before.”

Kandas: Where do you get this deep down-

Larry: I’m in their head right now.

Kandas: Like whinny voice?

Larry: I’m in their head right now, that’s the way it sounds to them. Like, I’m scared I’ll get sued, scared I’ll mess up and lose money, right.

Kandas: You sound so funny.

Larry: I’m afraid I can’t get funding, I’m afraid of getting stuck with the property, I can’t stay motivated.

Kandas: The last word has like three extra syllables.

Larry: That’s funny.

Kandas: Get past the fear factor, alright.

Larry: You’ve got to, you’ve got to get past the fear factor it’s very important right.

Kandas: Very, very.

Larry: It is, and listen, a lot of people say, “Well I’m scared about this, but I have no money to start.” Well good, you got nothing to lose, am I right?

Kandas: You’re not wrong.

Larry: Guys I can show you how to start with no money. No we used to say in all of our marketing advertising, no cash no credit no experience. We don’t say that stuff anymore, okay. It’s just not attracting the right type of student, right. However you do not have to have money to get started in real estate.

Kandas: Your own, no.

Larry: You do have to have money but it doesn’t have to be your money, right.

Kandas: Right. We talked about that a few weeks ago too I think.

Larry: Did we really?

Kandas: Well not about like steps or anything but about how it doesn’t have to be like your money and how people get caught up on the fact that they hear you have to have to have money and I don’t have money. And they don’t think outside the box to where I can get it.

Larry: And there’s a lot of ways to close and fund on a deal without of your own money okay. Now when we come back from the break, we’re getting ready to take a break I can’t believe how fast this segment has gone. I haven’t even got to the first one yet, right. The last one is going to be like in the last 10 seconds I’m going to say number five.

Kandas: That’s how these shows go you’re killing me.

Larry: But the first one is to analyze. You’ve got to know how to analyze a deal okay. Until you know how to analyze a deal and you know what is a deal and how to determine if a deal is really a deal, you have no deal right. So when we come back I’m going to show you a very quick easy simple method that you can analyze a deal literally in two seconds flat. Call Kandas.

Kandas: 877-LARRY-GO, 877-LARRY-GO request your digital investor’s kit or text the word BRAG to 803-897-6063.

[09:52] [Break] [10:12]

Kandas: Welcome back to BRAG Radio, this is Kandas.

Larry: You sound very excited today.

Kandas: I do?

Larry: Good job.

Kandas: Maybe it’s because I’m-

Larry: I’m being sarcastic, you can’t tell?

Kandas: No.

Larry: Oh anyway.

Kandas: My sarcastic meter has taken a dive lately. There was something that was going on last week in the office and Garett he’s new to me and everything. And I don’t know if he is my sarcastic meter with him just doesn’t register all the time. I can’t tell when he’s being sarcastic and when he’s joking.

Larry: When he’s being sarcastic and when he’s joking.

Kandas: Most of the time though, 98% of the time he’s being sarcastic with anything he’s saying.

Larry: He’s our new acquisition guy, kid’s24 years old and he’s already got like two or three houses under contract. They went through it’s about three weeks.

Kandas: Yeah he’s very ambitious.

Larry: He left a CPA firm to come work with us.

Kandas: I just got to gain my ground and figure out what is going on when I’m in conversation with him.

Larry: There you go. So we’re talking about your first deal in 30 days. We got to get through it Kandas. We got to get through it.

Kandas: First hey, I’m on board. Analyze.

Larry: So the first one is analyze right.

Kandas: You gave it to them before we went to the break don’t act like I’m telling them a secret.

Larry: I know. So guys if you want to learn how to wholesale a deal and which is probably going to be your quickest way if you’re starting with limited funds, so that’s going to be your first one. All you got to do is take ARV that’s After Repair Value, and all you need to do to find that is go on Zillow and look for sold comps, not the Zestimate.

Forget the Zestimate it means zilch okay. Look for sold comps and find out what the ARV is or you can ask an agent. Just call an agent, “Hey what’s this house going to be worth once I fix it up?” Right, an agent will tell you that. So you take the ARV, let’s say the ARV is $100,000 after repaired value in other words once you fix this property up or once someone fixes this property up because you’re not going to fix it up.

Kandas: Unless they call you.

Larry: The person you’re going to sell it to is yeah because you don’t want to do a rehab. I hate rehabs, I hate it. I’m never doing that one, you can’t make me, you can’t make me.

Kandas: I ain’t going to do it, I ain’t going to do it.

Larry: Not going to do it, not going to do it.

Kandas: There it is.

Larry: Let me be prudent. Okay so here’s the deal ARV times 0.7, $100,000 times 0.7 is $70,000, right. Then you minus out couple thousand dollars for closing costs okay. Now you’re down to 68, right. Now you minus out the repairs, let’s say the repairs are $10,000, now you’re down to $58,000 okay. Then you subtract whatever it is you want to make.

Let’s say you want to make $10,000, now you’re down $48,000. So if you pay 48 you can add 10 to it, right. And sell it for 58, that person is going to have $2000 in closing costs which is going to get them up to 60. They’re going to pay $10,000 to rehab it that’s going to get it up to 70 and then it’s going to be worth 100. That’s a 30 %equity that they’re going to have in the property.

Kandas: It’s what you call a win-win right there.

Larry: That’s right. So if you can pay 48, your first offer is probably going to be in the low to mid 40s-ish right. It’s not going to be your first. So in the future all you got to do is think ARV times0.7 minus two grand minus repairs minus what you want to make, right.

Kandas: Equals your buy price.

Larry: Equals how much you can pay for it. And then you just lower your first offer from there. Very simple. It doesn’t get any simpler than that, right.

Kandas: Not really.

Larry: No, you don’t even need a calculator. I tell people all the time, “Look if you need a calculator it’s probably not a deal, right.

Kandas: There you go.

Larry: If you need a calculator it’s not a deal. It doesn’t take a cipherlator.

Kandas: A cipherlator?

Larry: A calculator, right to be able to tell you if you got a deal. But remember guys, if you just start now it’s extremely important that your first deal be a homerun. Very, very important that your first deal be a homerun alright. And just remember if you’re not embarrassed by your offer, it’s probably too much, right. If you’re not embarrassed by your offer it’s probably too much.

Don’t get into the mode of, “I got to get a deal,” no you got to get a good deal.

Kandas: Right.

Larry: Right Kandas?

Kandas: That’s right.

Larry: You got to get a good deal. Make sure your first deal is a homerun that’s very important. I’ve seen so many people that have gone out there and whether it be they went to a seminar or read a book or whatever and they just got so anxious, “I just got to get a deal.” And then they let somebody sell them a property.

Remember guys you buy houses, you don’t get sold houses, that’s extremely important right. You determine how much you can pay. I’ve had so many people that say, “Hey so and so I’ve got this person giving me a deal and they’re asking this.” it doesn’t make any difference what somebody is asking for, you tell them what you can pay.

Kandas: Right.

Larry: Right.

Kandas: You need to be the one buying right, definitely not being sold.

Larry: That’s exactly right. Okay that was the first thing, learn to analyze number one. Number two is funding. Now that you know what is a deal, next you got to line up some money right. Now remember you need money to do real estate, just doesn’t have to be your money.

Kandas: That’s right.

Larry: Right, doesn’t have to be yours.

Kandas: That’s the key.

Larry: Now there are some ways that you can do deals where you don’t have to come up with the money and nobody even has to come up with the money, right. There’s a lot of different ways to close deals where there’s no funding needed, right.

Kandas: That’s right.

Larry: And I’m going to go through those right now, if you’re driving don’t start writing this down if you’re driving but

Kandas: Don’t write this down, send me an email info@bragradio.com and I’ll get it to you.

Larry: We’ll just look at the show notes later look at the transcript.

Kandas: Show notes later that’s true.

Larry: We transcribe this whole thing now.

Kandas: Yeah we do, we do now that’s so exciting.

Larry: Yeah I know. We have the whole thing transcribed and we have show notes and we have links and stuff like that.

Kandas: You can text to get stuff, we’re getting hi-tech.

Larry: And now it’s on video too.

Kandas: We’re getting hi-tech Chad.

Larry: It’s on video, you can see the video of every show as well.

Kandas: Two years we’re moving up in the world.

Larry: Unless I forget to bring the GoPro which I have done a time or 12. So no funding needed. The fastest, easiest simplest way to not have to come up with any money is doing assignments, okay. When you buy a property especially from an individual, you’re going to write in your contract as the buyer name, the name of your company or your name whatever it is.

Last week we did a show about entities, asset protection entity structure. So go back and watch it or listen to it as well. But let’s say it’s XYZ Investments LLC and then follow that by the words And/or Assigns. In other words you can assign that contract, right. Let’s say you get a house under contract to $48,000 like we just talked about.

And then you’re going to add 10 to it and you’re going to assign it for $58,000 or you’re going to actually assign it for $10,000 right. But therefor price is going to be $58,000 right. You find what’s called an investor friendly attorney or title company where you can do assignments, it’s not a buy and sell closing. It’s one transaction where you are assigning that contract at the closing, okay and you get the assignment for it.

Kandas: We have investor friendly attorneys too.

Larry: Yeah in multiple states. You can also always call your local real estate investors association.

Kandas: Yeah that’s a good point.

Larry: They will know as well right.

Kandas: Very true yeah they will.

Larry: So the second way that you can do a deal with no funding needed is options. Now an option gives you the right but not the obligation to buy a property, okay.

Kandas: We went through that a couple weeks ago too in depth.

Larry: Yeah oh did we? Okay good. So go back and watch that show or listen to that show as well.

Kandas: Well you can give them a little bit more but that was a pretty long show from what I remember. Well I mean they’re all the same links but.

Larry: It’s an hour.

Kandas: He we really in-depth.

Larry: It was a long hour.

Kandas: It was a long hour and when we get really into like the details of things I get so bored guys, I really do. But I know you all need to know this stuff but sometimes I think if you just align yourself with somebody that’s already been there and knows what they’re doing and has done what you want to do, that’s the quickest way that you’re going to be able to get to success.

So I like to be kind of on the fast track with things and I would personally rather do that if I were you. So if this stuff bores you, the minutia and the details even though you need to understand the process of how it all works and everything, just attach yourself to somebody. It could be us, it could be Larry or anything like that. Just get hooked up with somebody that’s already been there and can show you the quicker to get it done.

Larry: And how can they do that?

Kandas: 877-LARRY-GO, you can give me a call. We’re getting ready to take a quick break but give me a call to get your investor’s kit with copies of the book in there, Real Estate Day Trading and HUD Homes Half Off are both in there. I can get the digital kit out to your email.

Give me a call 877-LARRY-GO or text the word BRAG to 803-897-6063. Any questions that you had from this last segment or two on the details that we’ve gone through, send me an email to info@bragradio.com. Larry is saying it’s all in the book while he’s not up to the mic. We’ll be right back.

[20:00] [Break] [20:23]

Chad: Welcome back to BRAG Radio, where Kandas and Larry are laughing so hard they can’t talk.

Kandas: Oh my God, yes too bad that wasn’t like during the show.

Chad: Too bad the commercial parts of the show aren’t not on the air.

Kandas: Yeah too bad the commercial time is not on air.

Larry: Wow.

Kandas: I don’t stand like that.

Larry: I was doing an imitation of Kandas.

Kandas: Not a good one. It was funny but it’s not.

Larry: With my hands on my hip backwards.

Kandas: I don’t stand like that.

Larry: No but you could.

Kandas: Hope I don’t look like that if I do. I’m sure [Inaudible] [020:58] now just because of that.

Larry: You’re going to try it I know.

Kandas: Good grief.

Larry: Alright so we’ve got like three more to go through.

Kandas: I know you’re not even done.

Larry: We’re not even done with funding yet.

Kandas: I’ll stop talking.

Larry: Not I knew coming back on,

Kandas: You say be involved Kandas, stop while we’re on the show Kandas, play along Kandas. And then we go to break, hang behind in this you’re too chatty Kandas.

Larry: Alright just don’t get to where you go, mhm as your responses.

Kandas: Just make up your mind.

Larry: It’s okay let’s jump through this, funding.

Kandas: Okay options.

Chad: Just a second. You’re talking about five ways alright.

Kandas: Yes.

Larry: Yeah thanks Chad.

Chad: Good, yes.

Larry: Well see we’re supposed to do recap. I can’t believe this still happens on the air.

Kandas: It’s because our cheques still here.

Larry: Okay. So no funding needed right. Assignments, options.

Kandas: Options yeah got it.

Larry: Then you have assignment of beneficial interests using the trust. We got an Inner Circle student she’s actually been on the show before, Sarah. And she’s doing a deal where she’s making $82,000. She’s buying a house for $1.2million, right.

Kandas: Yeah.

Larry: And she’s wholesaling it for $1.3million.

Kandas: Yeah she’s a high end buyer, she’s a high end investor.

Larry: Yeah well she’s in California but she does stuff all over Alabama and Carolina.

Kandas: Yeah that’s not considered high end there is it?

Larry: Yeah that’s out there where the places look like phone numbers.

Kandas: Yeah apparently.

Larry: Foreign phone numbers. So anyway and she asked me how to put this deal together and she’s doing an assignment of beneficial interest using a trust right. She’s getting it under contract in the name of a trust for $1.2million. Then she’s going to sell the beneficial interest for $100,000. And then minus costs and everything she’s going to net about $82,000.

Kandas: Great deal.

Larry: Yeah it’s awesome and yeah we taught her how to do that yeah.

Kandas: That’s all our work. That’s a gold [Inaudible] [22:56] method right there.

Larry: It was my best Barney five Luke, right. So next you have you can create a corporation or LLC and sell the shares. You just create an entity that is for the sole purpose of buying the property like 125 Oak Street LLC. And then you get the property under contract in that entity and then you sell 100% of that entity to your buyer for whatever you want to make on your wholesale fee, right.

Kandas: Right.

Larry: That’s exactly the way that works. So then you can what’s called a simultaneous closing where you actually buy it, close on it and sell it. It’s two closings back to back and you have to use what’s called an investor friendly attorney that understands what you’re doing. So you do a back to back closing, some people call it back to back, some people call it simultaneous, some people call it A to B to C. that sort of thing, okay.

Now there are some other methods you can find deals, if you’re buying a HUD house, okay if you’re buying a HUD house or a house that’s on the MLS you can use those last couple of ways right assignment of beneficial interests using a trust, create a corporation LLC and sell the shares and do a simultaneous closing.

Kandas: With HUD yeah.

Larry: You can do all those with HUD and a bank or whatever okay. But now if you do have to have funding for a deal, if you could use private money that’s just finding other people that have money and they’ll put up the money for a piece of the deal right. Maybe 10% of your profit or something right. I mean don’t know anybody that wouldn’t put up $48000 to make $1000 overnight.

Kandas: Not if they wanted to grow easy.

Larry: I mean there’s a yield on that right. So you could do private money, you could do cash partners right where you bring in somebody and you just partner with them. What?

Kandas: I’m just watching you I don’t want anything.

Larry: And credit partners, what about your IRA, using your IRA or someone else’s IRA right. Either one, either your IRA, your retirement account it could be an IRA, a 401K, a safe harbor 401K a solo 401K an ESA Education Savings Account and it can also be an HSA a Health Savings Account. One of our student just did a deal in his son’s ESA and he made $52,000.

Kandas: That’s a nice game.

Larry: And he’s like, “I got college paid for, for a year or two.

Kandas: There you go, one deal.

Larry: That’s awesome, right?

Kandas: Yeah.

Larry: That’s sweet.

Kandas: If he goes to college-

Larry: Okay so I know right you never know. So the good thing about ESA is you can pass it along to another child if you want to. Then it could be a child or grandchild you can go from one to the next. So first we had analyze, then we had funding, number three is marketing. Now you’ve got to market to find some deals.

There’s a lot of different ways that you can market to find deals a lot of different ways. And the first thing that comes to mind is running some ads on Craigslist right. Just run some ads on Craigslist I’ll buy houses any condition anywhere cash right.

Kandas: One of the recent deals that Troy’s got, what ad was that from that we ran?

Larry: Oh that was from an ad where I ran a test ad with a house that showed a picture of a house with pictures inside and out. And it said $49,900, rental property will sell to a landlord with owner financing. And I put 25% down blah, blah. I’m telling you the phone rang off the hook.

Kandas: Yeah.

Larry: And we had a tremendous amount. I’m still getting responses and this was about three weeks ago. And one of those people they said, “Well I’ve got a house that I need to sell.” And we ended up buying the house, Troy has it under contract. And it’s up in Henderson.

Kandas: Henderson near Ashville.

Larry: Yeah near Ashville. And he got it under contract for 30 grand.

Kandas: Yeah off of that ad that was on the-

Larry: Off of the ad that we posted to sell a property. So guys you never know.

Kandas: So be ready for everything.

Larry: That’s right. Even when you put out bandit signs that you buy houses, you’re going to get other people that call you to buy a house from you, right. It happens all the time. So there’s bandit signs, those signs that say, “I buy houses.” Ours say, “Larry buys houses.” The bandit signs, you can pay people to put them out. We’ve paid people a dollar per sign to put them up right.

Kandas: That’s right.

Larry: And then you can put them up in stores, you need to get business cards, we have some unique business cards like a million dollar bill that we use for business cards which are pretty cool. Postcards and you can do direct mail with those postcards.

Mail them out to vacant owners, mail them out to pre-foreclosures, mail them to Section Eight landlords. There’s a lot of Section Eight landlords that are don’t-want to’s. Not only section eight but other landlords as well.

Kandas: Right.

Larry: They’re just tired of dealing with tenants, trash termites.

Kandas: Sometime people do want to retire and they’re just ready to get out of the business.

Larry: Exactly.

Kandas: It could be for any reason.

Larry: And vehicle signs, like ‘Larry buys houses” is on the side of my Leader Lexus.

Kandas: You can’t really see that though too unless you’re like right up on your car.

Larry: Well it’s painted it’s been there-see.

Kandas: I meant to tell you that the other day.

Larry: My car is champagne color okay, it’s like gold but it’s champagne color. I like the sound of champagne rather than gold.

Kandas: 2002 champagne color.

Larry: Yeah well listen I don’t drive new cars right. It just wouldn’t be prudent.

Kandas: Any time you can use it, any time.

Chad: 1000 points of light.

Larry: So but about every year or two you have to order a new sign because I have the signs ordered and you buy them online. There’s a lot of places you can get them and then you design your own. It’s like designing a business card or something and then they’ll print them and send them to you. And it takes you like 30 minutes to put them on your car.

Kandas: But they fade.

Larry: Yeah. After a while they do.

Kandas: Yeah especially in the Southern heat.

Larry: Yeah. So you could do vehicle signs, you could have nametags like scrolling nametags. I have a scrolling license plate frame on my car that say “Larry Buys Houses, 855-LARRY-BUYS and larrybuyshouses.com you can have your own website, internet lead sources, there’s a bunch of those out there, fliers, referrals from CPAs and attorneys.

Even billboards, there’s a lot of billboards around that say “We buy ugly houses” that’s Homevestors. There’s a guy here in charlotte that runs something that says “We buy pretty houses too” which is pretty cool, right. And then you got Realtor, Zillow, Trulia, Propbox, Search Tempest Udle, there’s a lot more. When we come back we’re going to go through the last two methods.

Kandas: You are cutting it close sir you are cutting it close.

Larry: Call Kandas right now get your free investor’s kit you’ll get a copy of my bestselling book Getting Started in Real Estate Day Trading. But you can get it absolutely free by calling Kandas.

Kandas: Yeah and there’s another book in there too, HUD Homes Half Off, so you guys give me a call 877-LARRY-GO or text the word BRAG to 803-897-6063. We’ll be right back.

[30:14] [Break] [30:27]

Kandas: Welcome back to BRAG Radio.

Larry: Leading the world to be rich and generous.

Kandas: This is Kandas.

Larry: And Larry.

Kandas: So with the-

Larry: So, go ahead.

Kandas: So as you guys have been listening to the show this week we’ve been talking about the five steps to get your next deal done in the next 30 days. He got through three of them, we’re going to see if he can make it with the other two. So we’ve got analyze, funding, and marketing as the first three.

Larry: Analyze, funding and marketing yes absolutely. So number four is making offers. You know what Kandas I tell people all the time, “The three most important things in real estate are make offer, make offers, make offers.”

Kandas: I’m aware.

Larry: Yeah you got to make offers because if you don’t make any offers you’re not going to get a deal right.

Kandas: Right.

Larry: It’s very important to make offers, right. When somebody comes up to me and says, “Oh this real estate stuff doesn’t work.” first thing I say is, “How many offers have you made?” “Well I’ve been searching online and,” “Now let me ask you another question, how many offers have you made?” “Well I talked to a couple of realtors.” “No, let me ask you another question how many offers just to ballpark have you made?”

Kandas: This is a standard answer Chad like this is his standard answer to their question. His standard question to their question rather.

Larry: It is. I mean think about it, if you make no offers on a house, you have zero chance of buying one.

Kandas: Zero.

Larry: Zip, nada, zilch. You got no chance of buying a house right.

Kandas: Game over.

Larry: Anyway so that’s the three most important things. Now how are you going to make offers alright? What you can do is any time you call an agent or call a seller, right it’s very important to make your first offer on your first phone call. You only need to know the answer to a couple of things to be able to make that offer. What’s the ARV and what’s the amount of repairs.

Kandas: Yeah we went over that in analyze.

Larry: In the first or second segment I think second segment we got to number one, right. So anyway you only need to know the ARV and the amount of repairs then you can make the offer and it’s very important that you make that offer on the first phone call right.

Kandas: Yes.

Larry: The second way is like if you’re working with agents or you’re buying listed properties, making offers on listed properties sign up for what’s called email notifications with realtors, right.

Kandas: Right.

Larry: While you’re on the phone with them say put me on your email notification list to get properties as they become available right. You want to talk to them first, and then properties that meet your criteria. Like what we like to look for are properties that are listed for $100,000 or less. Because the easiest type of properties to sell are the lower priced properties.

We have learned that over time, the lower the priced the property now I’m not going to talk about five or 10 or $15,000 houses. But typically if we can wholesale it for $50,000 or less $49900 or less we get a tremendous amount of more buyers.

Kandas: A tremendous amount of more.

Larry: I knew before I was saying it. You ever start to say something and it’s coming out and you can’t stop it right. Like, “When is that baby due?” right you can’t stop it, it’s already out there right. Anyway come on straighten up a little. So you want to make your first offer on the first phone call, you want to get on their email notification list right.

And then you can also another way to make offers is have the realtor go ahead and offers for you. Then all they’re doing is emailing you the counter offers, give them authority to make offers based on your formula, and then have them do it. We’ve got guys in our office.

Kandas: Right.

Larry: Realtors licensed people in our office that they’re on the phone and on the computer all day long calling agents and making offers right.

Kandas: Right.

Larry: And they don’t even have to talk to me until we get one under contract or get it close to contract right.

Kandas: And hopefully before long they won’t even have to talk to you then.

Larry: Exactly.

Kandas: That’s the goal.

Larry: Exactly. So and then there’s written offers right. You can use a one page offer form or you could use the realtor’s offer form. And if you’re buying on the MLS you need to use the realtor’s document, right. Or if you’re buying from an individual you could use just like a one page offer okay. So all you want to do is there’s a lot of different ways on the phone, there’s email, there’s written offers.

Now if you want to really get a little fancy with it and make a lot more written offers, you can use a service like zip forms. Realtors use zip forms all the time, zipforms.com and there’s DocuSign or RightSignature where you can basically put in an offer to purchase into RightSignature or DocuSign and you can fill it out.

And then with a push of a button it goes out in an email to the listing agent. So you can put the offer in right through the listing agent. Does that make sense?

Kandas: Yeah.

Larry: We even have a CRM that does that for you as well where it’ll fill out the contract and email it right to the listing agent right.

Kandas: Right to them.

Larry: Now there’s also if you like to work on your phone or your iPad more than on say a computer, there’s a lot of different apps out there that you can use to sign stuff and to scan and to send offers to purchase like SignNow, that’s an app. PDF Scanner or Scanner Pro, Turbo Scan, there’s a bunch of them. What? What’s going on? What’s happening right now? There’s a Dolby Sign and Scan.

Kandas: You just keep on going.

Larry: Hey I still got another one to go.

Kandas: That’s what the look is for.

Larry: We’re halfway through this segment right. So you can also have a VA submit offers for you as well okay. You can have a VA submit offers. Now don’t worry about the due diligence because you’re going to make sure you have a 15 day inspection period then you’re going to go through your due diligence and we don’t have time to talk about that. But call Kandas and get a copy of the book all the details are in there.

Now the last one, here we are number five.

Kandas: He got to it.

Larry: The last in five steps to get your first deal in 30 days is to sell the property fast okay, you want to wholesale. What I call wholesaling is stack them deep and sell them cheap right. It is the fastest way to get started because there’s fewer steps, what?

Kandas: It sounds like that should be something somewhere, I don’t know.

Larry: Stack them deep and sell them cheap?

Kandas: Yeah.

Larry: You got repeat business you’re dealing more with educated buyers, there’s no emotions involved. You can sell your properties literally we sold properties in two hours or less. You could sell them by email. First thing you got to do is build a buyers list okay. And where are you going to build that buyers list? REIA groups, printed classifieds, online classifieds, online houses for sales.

And we have these little bandit signs that say foreclosure with the price. It’ll say like, “Worth $80,000 our price $49900 or something like that. And it really helps. You can also sell them on Facebook, there’s Facebook groups out there, go to Facebook groups and sign up for groups in your area, real estate investing groups in your area.

Whether you’re in the Carolinas or Texas or wherever and you could use your profile, you could use a Facebook page for your business and you could run ads, comment, share, post, join different groups. There’s just a tremendous amount of ways just on Facebook that you can build your buyers list.

Kandas: Right.

Larry: And then you want to put them in some kind of a dating base okay. So some kind of a dating base where you can send them out an email, what?

Kandas: For a date.

Larry: Yeah, no you can send them an email, a database. You can send out an email like Mail Chimp we use Mail Chimp right.

Kandas: Right.

Larry: We use Mail Chimp. So you can send them out an email any time you get another property under contract, send an email out to your buyers list that says, “Hey I’ve got a great deep discounted property it won’t last long. Let me know if you want it, cash buyers only.”

Kandas: Cash Buyers yeah.

Larry: Cash buyers only. And guys then all you got to do is get out there and start making offers, making offers, making offers that’s it right. So you’re going to analyze the deal is number one.

Kandas: Yeah.

Larry: Then you’re going to line up your funding, then you’re going to start marketing to get properties. Then you’re going to start making offers; make offers, make offers, make offers right. And then you’re going to sell it fast. Remember, work as hard at building your buyers list as you do at finding properties.

That way when you get a deal you’ll have somebody to sell it to. A lot of people are afraid to make offers because their biggest fear is what if they say yes now what do I do? See if you start working harder on your buyers list, you don’t have to worry about having somebody to sell it to.

Kandas: That’s right.

Larry: If it’s a good deal, right, the buyers will come.

Kandas: And they’ll stay.

Larry: If it’s a good deal, it will sell right.

Kandas: Yeah and they’ll stay. You guys give me a call 877-LARRY-GO to get a copy of the investor’s kit. Get registered for our next three day event where we go into a lot more detail on this stuff, talk about our mentoring programs, kind of anything and everything. You can send me an email to info@bragradio.com or you can text the word BRAG to 803-897-6063 for that investor’s kit that we can get out to your email. 877-LARRY-GO.

Tune in again next Saturday for BRAG Radio with bestselling real estate investing author Larry Goins and co-host Kandas teach you the latest techniques the pros use to make money in real estate.

If you’d like more information about what Larry and Kandas talked about on today’s Brag Radio or like the free investor’s kit, or to schedule a tour of the office call 877-LARRY-GO that’s 877-527-7946. You can also text the word BRAG to 803-897-6063. It’s BRAG Radio be rich and generous on News Talk 1110993WBT.