Tag Archives: seller financing

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

Seller Financing a Property with a Mortgage

Bill Fairman from Carolina Hard Money talks with Larry about how you can do seller financing on a property that already has a mortgage.

  • What do you need to look at to offer seller financing?
  • Why does the borrower need the “ability to pay”?
  • Does the borrower have the ability/funds to complete the closing?
  • And most importantly, is the borrower willing to make the mortgage payment?

 

Why is the character of your buyer so important in qualifying them?  And what are you looking for on a credit report?

Find out all the answers on this quick hit segment from Invest in Yourself.

Seller Financing – The Market is Ripe

Paul Olson joins Larry to talk about Seller Financing and how they are using seller financing in their business.

Larry used to do primarily wholesaling, but as the market has turned, Larry has turned to doing more seller financed deals.

Larry talks about how, in the current market, he can earn more money by seller financing. The great thing, is it also allows him to spend more money on the property, even full list price!

Paul talks about a fix and flip is doing on his own right now. He goes into details on the comps, the area and how he measures the value of the property.

Watch the video below to learn more!

Seller Financing – Talking to Prospective Buyers

Nathan Amaral joins Larry on Invest in Yourself. In seller financing, you are most likely going to have to deal with buyers, so Nathan gives a few tips on how to handle those conversations.

How do you have the right mindset to deal with buyers effectively? How do you take control of the conversation? Why should you be the one asking questions and not the buyer?

Nathan shares an exercise you can you use with an old checkbook to build your comfort talking and dealing with larger and larger numbers.

Find it all out and more on this segment from Invest in Yourself!

Invest in Yourself – Seller Financing

This episode of Invest in Yourself is all about seller financing. Larry is predominantly using seller financing to sell properties in the current market, as right now it allows him to earn more money than wholesaling and allows him to be more competitive with with his offers. As the markets continue to “come back”, it is important to look into and implement strategies that will allow you to grow your business in current and future market conditions.

Paul Olson joins the show to talk about a few deals in the pipeline and share a deal he is working on right now. Bill Fairman from Carolina Hard Money (dot com) talks about how you can seller finance a property that has a mortgage on it.

Nathan Amaral talks with Larry about how to talk to prospective buyers to leave them itching for your property, and Melissa Floyd, one of Larry’s Senior Business Advisors chats with Larry about a few challenges and success stories from her real estate students.

Want to know more about seller financing? Then watch this episode of Invest in Yourself now.

Building Passive Income

This episode of Invest in Yourself is about Building Passive Income. We all want it, but how do you structure your real estate business to get it?

Larry, Paul and Randolph show you what you need to know about both buying and selling homes to build passive income. Wendy Sweet joins the show to talk about the impact of financing and Nathan Amaral joins Larry to talk about putting on the blinders to gain laser sharp focus in your business.

Your Content Bonuses – Building Passive Income

Your Content Bonus >>

What Investors Need to Know About the Dodd Frank Act

 

Is seller financing dead because of Dodd Frank? Do you now have to be a licensed mortgage loan office to seller finance a property? Can you finance more than 3 properties as an investor? Many real estate investors think that the regulation called Dodd Frank which takes effect January 10th, 2014 will eliminate seller financing as we know it.

I have been researching this and found a very knowledgeable attorney named Clint Coons from Anderson Advisors that knows all of the rules and regulations of Dodd Frank and the Safe Act and how it relates to seller financing for investors.

I was able to get him on an interview to ask him some tough questions to find out exactly how the Dodd Frank Act will effect investors and seller financing.

Listen to this recording to find out how to stay in compliance and still be able to seller finance properties to owner occupants as well as investor buyers.

Of course this is not considered legal advice and please consult your own advisor before making any investments or seller financing a property.