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Long Distance Real Estate Investing with Glenn F Goss
I've known Glenn F Goss for many years. Glenn is a retired law enforcement officer and now a full-time real estate investor and a stay-at-home dad. He does virtual investing, rehabs, lease options, wholesaling, and many more.
In this episode, he shared how he managed the changes in the market, how he finds deals and many more.
- How Glenn got started in real estate
- What he is doing now and how he rolled with all the changes in the market
- On building his team
- The kind of deals he is doing
- The reason he moved back over to lease options
- What a sandwich lease option is
- On finding deals
- Finding and structuring private money
- Where to find private money lenders
- His future plans
- “Listening is more important than talking.”
- “Keep it simple.”
- “If you're giving somebody a business, never ever be afraid to ask them for business in return.”
- “Start now. Start slow.”
- “Short-term pain for long-term gain.”
RESOURCES AND LINKS FROM THIS SHOW:
- All I Really Need to Know I Learned in Kindergarten by Robert Fulghum
- Skype: Glenn F Goss
- Email Address: firstname.lastname@example.org
Larry: Welcome to the Brain Pick-A-Pro show live from Lake Wylie, South Carolina, in my office, not home office, in my office, and all the way down in Florida, a good friend, I’ve known him for many, many, many years. He is a full-time real estate investor. He does virtual investing. He does rehabs, lease options, wholesale. He does the whole gamut and I’ve been wanting to get him on for a long, long time, so please give a warm welcome to my good friend, Glenn Goss. What’s going on, buddy?
Glenn: Oh, man, Larry. It’s great to be in South Florida. Thanks for having me on. It’s an honor and a privilege and I always enjoy chatting with you.
Larry: That’s awesome, man. I’m really excited for you. I mean, you’re living the dream. The real estate investor’s dream, right? Because so many guys get out there, they wanna build a huge organization and they’re tied down to it, and before we started recording, you were telling me a little bit about your day and the things that you were able to do in your day, and I’m like, man, that is awesome, I love that. And first of all, you retired law enforcement, so thanks a lot for your service, we appreciate that. That’s really awesome, that really is, but now you’re a full-time real estate investor and slash stay-at-home dad too, right?
Glenn: Yes, I am, Larry, and I hesitate to say full-time real estate investor because that’s what I do but I hardly do it full time and that’s by design. For thirty years, as you mentioned, I had a full-time career. I was happy to serve. I had a great career. I started at the bottom, I worked my way to the top in my profession and upon retiring and actually before I retired, I started dabbling in real estate investing on a personal level and I just had an affinity for it and I love it. I’ve been very blessed during my entire adult life and I know you’ve been talking about going back to my teens of going to work every day and doing what I enjoy to do. Even when I started out working as a teenager in a gas station, putting my way through college and joining the police force and now in retirement, I’ve had a great work life and I hope to have many more years.
Larry: That is awesome, that’s great. So, tell us a little bit about how you got started in real estate.
Glenn: Well, interestingly enough, I just decided, would allow a serving that I wanted to give something a little bit more entrepreneurial. I’ve always had it in my blood. My father raised five children selling cars so as you can imagine there’s always this in my family and working on commission and he did that back in the sixties and the seventies and even into the eighties, and I think I picked up that part of him that like to make the deal, make the deal work and make it a win-win and even though I chose a career in law enforcement, I’ve always had a yearning to do something a little bit more sales or market-oriented and entrepreneurial, and fortunately I was able to actually start that in the real estate toward the latter part of my career, and interestingly enough I actually started out by bridging real estate deals. I found that people working with me, even people working for me living in apartments wanted to buy a bigger home but they hadn’t sold their current home and they’re in that little catch-22 situation where they didn’t have a deposit. So, I actually started out doing bridge loans or lease options on their properties to get them their deposits so they can buy the home they want and lease option me the home that they wanna sell, I would literally buy the home and then turn around and resell it obviously for profit, and everything was aboveboard. They knew what I was doing, I knew what they wanted, and I literally started doing what I call credit card deals. I was able to leverage my own credit to do that. One property turned into five, word got around what I was doing and that’s how I actually got my start.
Larry: That’s awesome. That’s really, really good. So, tell us a little bit about what you’re doing now because you’ve evolved over the years, and, Glenn, I gotta tell you, I mean, I know a lot – and I’ve probably never even told you this but I just hear some of the lines that you say and some of the lines you use, and you know I’m a pretty good negotiator, but, man, I gotta tell you, I love some of the stuff you tell people that you say and how you negotiate with them. Even before we started recording, you were talking about what you were telling the neighbor across the street on the house you just bought. So, I love some of the lines you use. It’s awesome and you’re really, really a good negotiator, you really are.
Glenn: I appreciate that. I owe that to two forces of my life, my father because I considered him to be a great negotiator and also with thirty years in law enforcement. If you wanna be successful, sometimes you need to talk your way out of situations as much as you want to talk yourself into situations and you learn that words matter, listening is more important than talking.
Larry: That’s really good. That is really good. So, tell us a little bit about what you’re doing now. Now, you are doing, I mean, you’re living the dream. You’re down in Florida. It’s a hot market down there. It’s tough to get deals and I’m a firm believer and you are too. You know, you’ve got to roll with the changes. You can’t be trying to buy properties at deep, deep discounts to wholesale them if you’re in a really, really hot market if you don’t wanna deal with the competition, so you have to change your model, you have to change your strategy, and sometimes you have to go out of your comfort zone and even go out of your own geographic area. So, tell our listeners a little bit about that.
Glenn: Well, first off, I couldn’t agree more with what you said and I’m glad that you asked me that because at the end of the short story that I’m gonna tell you, that’s actually how you and I ended up meeting. Going back to post recession, 2008, 2009 where I think every real estate investor probably pulled their deals a little bit, nobody saw where the bottom was, when I decided to jump back in closer to 2010 after taking a little bit of a hiatus, I decided to start looking in areas outside of South Florida for two reasons. First off, as you mentioned, it is a very hot market even in a recession type of economy. Secondly, I couldn’t see the bottom, and inherently properties are more expensive down here than they are, for example, in your neck of the woods. So, when I started looking around, I just started checking out, for example, North Carolina and I noticed that houses very similar to, for example, my neighborhood were selling for maybe a third to a half of what I was paying here.
Glenn: So, what I decided to do is I just decided, for the first six to eight months, to kind of paper trade, if you will, houses that I probably would have bought the house here, what it would sell over there, and I started making a list of people or contacts that I made and ultimately that led me to buy my first property I think back in 2010 the same year in North Carolina, and what I did was I bought a typical bread and butter home in a good neighborhood, as you like to say, not a warzone. It could be a blue-collar neighborhood, it could be a middle-class neighborhood, it really doesn’t matter as long as it is neighborhood where people can work and play and raise their families and live a good life, and I actually bought that property, I renovated it, and I sold it but what’s more important is what I learned along the way. Within a few months of buying that property, I started getting those yellow cards in the mail from other real estate investors. So, what I did was I started building my team when I would call them up and ask them. I would again listen to what they have to say and I would say for example, “Hey, by the way, I’m looking for somebody to maintain my lawn, can you recommend anybody?” One thing about real estate investors, Larry, and I think you know this is that they’re always willing to help other investors. They want to help. They’re in the business as much to help as they are to make a profit so I would ask the same question about closing attorneys or realtors that are friendly to brokers. I started taking names as they say in my former business, take some names, take some phone numbers, make some phone calls, and, over time, I was able to build up a team of people all the way up to general contractors, closing attorneys, property appraisers, property inspectors to help me evaluate my deals long distance as I started looking and buying more properties. One property turned into three, three turned into ten, and so on and so forth. And I just like to stay with the niche. I wanted to stay with single family homes, that’s my niche, I was comfortable with it, and since that time, since between then and now, I would venture to guess that I’m probably close to buying and selling having bought and sold upwards of eighty or ninety houses in the Charlotte and Mecklenburg area and all the way down in South Carolina in your area and even east in Carolina as well. And, again, building my team before I get out. So, real estate investing long distance shouldn’t be scary. As a matter of fact, people should view it as an opportunity, particularly if there in a metropolitan area like myself.
Larry: Right, that is great. So, you’ve done close to a hundred deals up here in the Carolinas from South Florida and you built your team by every person you talk to in the area, you ask for referrals. You ask for what you're needing at the time whether it be a closing attorney or a landscaper or a contractor or an electrician or a property manager or whatever. That is awesome. I love that, I love that.
Glenn: Absolutely, and it does require talking to a quite a few people but you can get a good deal for the people over the phone especially, again, I think my background serves me well there too but I did all this through phone, fax, FedEx, and e-mail. I didn’t use as we’re using now Skype. I kept it simple, I kept it basic, and a lot of people probably feel the same way where they don’t want to get tied down with video conferences and things like that. My message to the people watching this, your students, anybody else out there is keep it simple.
Larry: Right, that is great. Now, what kind of deals are you doing up this way? You know, you’re long distance, you’re doing virtual investing. What kind of deals are you doing, fix and lips, lease options, wholesaling, or what?
Glenn: In your area, I’m doing fix and flips. I’m doing those and I’m enjoying those but in my area down here, I’m starting to branch out back into lease options where I got my start. So, I’m doing both.
Larry: You know that brings up a really good point. I mentioned about you have to roll with the changes with the market. You have seen that this market up here, you can still get properties to fix and flip but in your area, I’m sure it’s much more difficult to get fix and flips, so that’s probably the reason you moved back over to lease options. Can you tell us a little bit about that?
Glenn: Oh, absolutely, hit the nail right on the head. We’re dealing with a couple different force. I’m sure people watching this, whether you’re in Los Angeles or Dallas or New York, any market that is a higher retail value market, you're gonna have a lot of variables involved with respect to other real estate investors, people that say they’re real estate investors, and as I like to say, you have to kiss a lot of frogs to find your prince. And, quite frankly, at this stage in my life and as we mentioned earlier, I’m not really into – I’m into the time value of money. That’s my thing. I don’t wanna spend a lot of time chasing or finding a deal so what I’m doing in North Carolina wouldn’t work for me down here unless I wanted to work eight or nine hours a day. I’m not saying that the way I’m doing it, somebody else can’t do it better or smarter, that’s just my perspective. So, I like to stick with what I’m doing down here right now is for example as I mentioned to you before we got on about a property across the street from me, really similar situation where the owner wasn’t living there anymore, decided that he wanna sell the house and we had struck up a conversation over several months and he would catch me working on my yard or, you know, washing or waxing my car and finally he decided that it would be better to go with me than to hire a real estate agent and he got the price that he was looking for his house and I was able to resell it on a lease option and make some money in the middle. Wouldn’t make as much, for example, as fixing and flipping my own property but then again I didn’t have hundreds of hours into the deal or even dozen hours into the deal. It was probably a three- or four-hour deal from beginning to end and it worked out great.
Larry: That’s great. So, basically what you’re doing since you’re in a hot market, you can give him his price by structuring it based on your terms by doing what you call, what you would call a sandwich lease option, right?
Glenn: Right. Sandwich lease option and a signable lease option and as you know, and many of your students would know, you’re using two different contracts. One to purchase a property on a lease option which is one contract and one to sell the property on a lease option which is very important that you do a lease and an option purchase contract, there are two separate contracts when you’re actually representing the property as the buyer or as the assignor. Not to get too technical and I know you talk about this in your courses but you can do it pretty simply and you have the documents, you know, in your websites and your courses and quite frankly people can Google to get them as well but better to talk with somebody who’s done it before but it’s really not that difficult. In this particular case, I have no money into the deal. The money I used to secure the property I actually received from the person who’s buying the property for me, and when they closed on the property, I'm in the middle, I get paid the difference and the title attorney handles everything else, and as you know, my lease option on the property is longer than the lease option on the property that I had afforded to the person that’s buying the house from me. So, basically what I like to say is I’m in a round room. I can’t be boxed into a corner on this. I got plenty of time to change up my strategy if in fact the people that are currently renting the property don’t actually execute the option to purchase it. I can actually turn around and do the whole thing again. I have plenty of time without being financially responsible for the property.
Larry: That’s awesome, that’s awesome. That is just a prime example of how you have learned to adjust your investing to the current market. So, how are you getting deals in your market and up here in the Carolinas as well? How are you finding deals?
Glenn: Let’s talk about South Florida. I’m keeping it simple. As I mentioned to you before we got on, I drive my son to start high school and his high school is a little bit further away than the school he went to, so invariably, a few times a week, I’m driving by “for rent” signs or “for sale” signs and I don’t really look for rent or for sale but I don’t wanna – and when I stop, when I’m on the way driving him to school or picking him up or anywhere in between or even throughout my day, whether I’m going to the gym or whether I’m running errands, I’ll stop, take a snapshot of the sign on my trusty mobile phone, take a snapshot of the house. If the house is nearby, sometimes it falls along the street versus in front of the property and then I’ll make some phone calls in the afternoon or the next day for that matter. And I’m finding my deals that way. I don’t call right away. If the sign is new, I usually put it in my hip pocket for a week or two ’cause I don’t want to be the first person calling on the property. Once I – it’s actually funny you should ask me this because I actually was reviewing my photos from about a month ago and I actually forgot to make a phone call on the property so I decided to drive that way a couple of days ago and, sure enough, the sign was still out there, so it was perfect. So, when I called up the owner of the property, he was more than happy to hear from me because he had not sold his property yet so we are actually negotiating a deal on that property right now.
Larry: You know what, Glenn, a lot of people really don’t believe that you can get somebody that wants to sell their property, to lease option it to you but it’s really not as difficult as somebody would think. You just really have to ask, don’t you?
Glenn: You have to ask but I also added another arsenal to my weapon. I went back to my roots. As I mentioned at the beginning of this podcast, that I ask them, “Well, are you looking to buy, for example, are you looking to buy another house? What are gonna do when you sell this house?” I keep the questions open ended and if they say, well, for example, they say, “Well, my wife, really, or my husband, for that matter, really has this house that we wanna buy but we need to sell ours first.” I said, “You know what, I think I can help you with that.” And what I do is I go back to the same premise as actually how I got my start in this business which is, what if I could actually give you the equity that you’re gonna get from your property when you sell that now and lease your property back from you so the bank is satisfied and you have a tenant in the property. That way, you can buy your house now versus maybe losing that property down the line because you haven’t sold your house yet?
Larry: Right. There you go. Sweet strategy. I love it.
Glenn: And the most important thing and one of the things I learned from you, I stop talking. Because invariably, they’re gonna say, “Wow, can you tell me more? Wow, that’s great, how can you do that?” It doesn’t really matter what they say. What are they gonna say? No? If they say no, I don’t wanna speak to them anyway because they’re not open-minded so I can move on. You know, just move on.
Larry: I love it, I love it, that’s great. So, how are you finding your deals up in the Carolinas?
Glenn: Mostly referrals at this point, to be very candid with you. I’m not looking on Craigslist anymore. I used to, for example, look on Craigslist and back when I was up there, you did have other apps like OfferUp and Letgo and things like that which is a great source for finding properties on my end particularly on –
Larry: Right. Yeah, absolutely.
Glenn: And I bought a few properties over there but right now I don’t have to because I’m getting e-mails and phone calls from everybody from bird dogs that I have up there to other real estate investors then maybe I don’t have a cash to do a property, they want to partner up on a deal and maybe just sell the contract to me, assign the contract over to me and I’ll be happy to buy it ’cause I need a deal for everybody. I have a couple new investor-friendly brokers. One in particular, Patty, who has been phenomenal finding deals for me and I actually even have a couple title attorneys call me where a deal fell through and it was an investor type of deal and they would call me and ask me if I was interested because I closed properties with them. And that brings me to real important point. If you’re giving somebody business, never ever be afraid to ask them for business in return. If you’re giving money to a title attorney who’s making money off of your closings, don’t be bashful. Ask him, “Hey, look, you know, if you have some deals that fall apart, maybe you can, you know, throw them my way. I’d really appreciate the business.”
Larry: That’s great, that is really good. Especially I really like what you said, if you’re giving them business, they feel a reciprocation.
Glenn: Follow your dollar.
Larry: I love it, man. I love it, I love it, that’s great. So, tells us a little bit about – I know you’ve been big on the past in private money. A lot of people watching this podcast getting started in real estate, they’re using private money or need private money to get started. Do you mind sharing a little bit about private money and how you find private money and how you structure that?
Glenn: Yeah, I don’t mind sharing it with you at all. And I wanna add a little caveat to that that we could talk a little bit about leveraging your own capital HELOCs and things like that because the economy, as we know, the economy is churning right now and so they’re eager to lend their money so we’ll say, kinda make a follow-up on that like that because that’s what I’m doing now as well. With respect to private investing, I have a core group of investors around me that are people that I know or have come to know, professionals maybe again, people that I have given my business here, for example, dentists and other actually title attorney that I used down here actually invested with me as well in some of my out-of-state deals because he likes what I’m doing, he likes the return, so these are not private lenders, these are private money people where you can pay them single-digit returns and I keep it very straightforward, when I buy a property, I use private money anywhere between – and I pay between 7 and 9 percent, some people I think like who also think that maybe I should pay a little bit less but I like to give my private money investors a good return. I do it in a way where I structure the deal where they have absolute certainty that their money is going into property. For example, without getting too technical, when I buy a property, I do a standalone LLC for that property under my umbrella corporation and I do a simultaneous partnership agreement, not a loan agreement but a partnership agreement with my private investors so they know that they are in control of the money in the deal but I’m in control as a managing partner to make the deal happen, so I think checks and balances, when you’re asking – if you’re gonna for example approach friends and family or close business associates, you need to structure it in a way where if you’re gonna ask them to invest in you that they understand the collateral is not only in you but it’s in the property as well. And maybe that got a little bit too technical or too far off field from what you’re asking but, again, don’t be bashful. You know, people want to make returns on their money. They are not making it in the bank and a lot of people don’t have the time, interest, or expertise to go out and buy and sell their own properties or do lease options, they just want to earn 7, 8, 9 percent on their property – on their money.
Larry: That’s really good. I really like what you said with the accountability and creating a separate LLC. It can be a series LLC or something like that, but where they actually have ownership and they feel that pride and it makes them wanna do that, so when they’re at parties, they’re telling friends, “Hey, I’m a real estate investor, I invest in real estate.” They’re not just a lender, they’re an investor. And then I’m sure, I’m sure just by doing that one little thing which, you know, it lets them be more of an investor instead of a passive lender, I’m sure it’s probably gotten you some referrals.
Glenn: Yes, absolutely. There is some ownership obviously in the deal and, you’re absolutely right, I couldn’t have said it better. They feel more – they feel more involved in the process and not just somebody that’s lending money. They can actually say, “I’m a real estate investor,” by being so very passive in the deal. They’re stakeholders, to put it differently, and that’s one of the ways that I do that. But I’ve actually come across – I’ve actually had a little value added to that whole situation as I mentioned to you a few minutes ago and, as you know, property values have gone up, banks are choking with money that they wanna lend out particularly to people that are credit worthy. I’ve actually put some of my investors, “Instead of using your own money, how about using your bank’s money?” and again I start talking and then they ask me how can they do that. I say, “Well, you have a first mortgage on your property but your property’s going up $150,000, $200,000,” I said, “How about I show you to get a HELOC on your property where you’re not over-leveraging your property and you can borrow the money from the bank at 3.5 percent and lend it to me at 7 or 8 percent and actually making profit off of money that’s not even yours.”
Larry: Yeah, a profit off the bank’s money.
Glenn: A profit off the bank’s money. Your profit is less, however, it’s not money that you have to take out of wherever you have it right now. I’ll be happy to use that money too.
Glenn: Why not make from 4 to 6 percent on somebody else’s money and your payments are only gonna be interest only until we close the deal. As a matter of fact, if you’re wondering how to make those things, I’ll make them. For me, it’s a lot cheaper to make somebody’s HELOC or home equity line of credit into his only payment than it is to make a monthly 9 percent payment which I typically don’t do anyhow. Everybody gets paid on the back end of the deal. Their principal and their interest with my private investors. With private lenders you have to pay monthly, as you know, your hard money lender. But, so, in addition to their own money, they have another source of money, the bank’s happy, they’re happy, I’m happy, everybody’s happy.
Larry: It’s win, win, win all the way around.
Glenn: That’s what you have to look for.
Larry: There you go. So, where would a person go to find some of these private money lenders? I know I’ve always preached in the past, you know, you don’t ask people for private money, you ask people who they know that would like to earn 8 to 10 percent or whatever. What are some of the sources you would recommend people look for to find some private money sources?
Glenn: You do a very good job, Larry, in your course and your Brain Pick-A-Pro and podcasts about how people can cast a wide net and, you know, put ads on, for example, Craigslist or, as I mentioned, there’s a great – another app out there called Nextdoor. I don’t know if you have it up in your area but it’s phenomenal down here. Nextdoor, Craigslist, so you can do those things and you’ll get good returns but I have to get back to what I said before. For somebody starting out, like I said, keep it really simple. Follow your dollar. Everybody – most people, you know, God willing, they go to the dentist, they go the doctor, invariably, especially if you’re going to a new dentist or a doctor or another professional, they’re gonna ask you what do you do. “Well, I’m a real estate investor.” They ask, “Well, what do you do?” “I buy and sell single family houses or I lend money out. As a matter of fact, I’ve got more inventory of properties than I have money to buy. Do you anybody that would be interested in earning, you know, high single or double digits on their money to invest?” and, invariably, they’ll say, “Well, I might be interested. Well, let’s grab – ” Don’t talk to them about it while you’re in the chair, for goodness sake, you know, especially if you’re getting a cavity filled, it doesn’t work out too good. But, but you can, for example, set up a time to meet for coffee and whatever you do and don’t meet in their office. Meet somewhere neutral. Meet at a coffeehouse or somewhere where you are peers, where you’re equal, because professionals like that have money to invest, they typically have financial planners and advisers ’cause they run a business, but at the same time they’re entrepreneurial and they wanna make money and if you can show them a good deal, they recognize a good deal. And they may turn you on to other people as well. Invariably, it’s worked for me and I do exactly what you mentioned, I say if there’s somebody I don’t know, do you know anybody, but to be very candid with you right now, I have people really coming to me at this point. They – a lot of people know what I do, people have introduced me to other people, and I’m three or four levels deep right now of people that I have met through other people that I have worked with or collaborated with and it’s working out really well. It just takes a little time, but my advice would be, it’s like baseball. You know, focus on your singles and doubles before you focus on the fence.
Larry: That’s really good. That is really good, I love it, and I love the advice that you said. Don’t meet at their office. Meet at a neutral area so you’re peers instead of you’re at their office and it’s like you’re pitching them. You don’t want that to happen. You want it to like you’re peers, back and forth, and you bought have something to bring to the table, right?
Glenn: Exactly. I have a golden rule that I live by. If I feel at any point in conversation that I feel like I am now trying to sell somebody something, I stop. I just stop. It doesn’t really matter how bad I want it, how bad I wanna establish a relationship, I feel that I’m not in sales, I am real estate investing, and if it gets to the point – and that’s true with anything. Whether it’s a conversation about politics or whether it’s a conversation about life or whether it’s a conversation about real estate investing. If you feel that you’re trying to convince somebody of something, it’s been my experience that if you stop talking about it, change the topic, they’re the ones that are gonna bring it back up because, quite frankly, that’s counterintuitive. People that they have, you know, it’s kinda like the ideal saying, “If you’re in a hole, stop digging.” So, and people respect that can put down the shovel versus continuing to dig a hole.
Larry: Right, right. That’s a great, great point. That is a really good point. I love that. I love that. I’ve also noticed it’s like, the more you have a takeaway, you know, “Well, I don’t really know if this is the right thing for you, it may or may not be the right thing for you,” you know, if you do a little bit of takeaway, then they start selling you on letting them in the deal, right?
Glenn: Correct. Again, very counterintuitive, but if people can just indulge, if they can go back and think about how they were successful in kindergarten before we were indoctrinated into this intuitive club versus counterintuitive, and what I mean by that is listen more, talk less. Don’t worry, be happy. Things will happen, it always does. When you speak less and you listen more, people respect that because, let’s face it, the vast majority of people just don’t do that anymore.
Larry: That is true. You know, there’s a book, it’s been around for many years, I have it on one of my bookshelves somewhere, it’s called Everything I Needed to Know I Learned in Kindergarten.
Glenn: Exactly. I read the same book and that’s why I made the reference. As a matter of fact, I think I see the book on the top left-hand corner right next to all of your accolades and your self-written books and your – anyway.
Larry: That is awesome. So, Glenn, this has been awesome, man. This is really good stuff. So, what’s next for Glenn? What are you doing now?
Glenn: The same thing. I really don’t have to do anything different. My only advice to the people that are working, if they don’t have time to do it, I just – make the time. Set aside thirty minutes a day to read an article, pick up a good book, read one of your books, for example. Paper trade, as I say it, as if you’re buying stocks. Follow a house. You don’t have to jump right into it, I mean, unless you’re in dire straits and you need to make some money then, obviously, you know, jump in and pick up the deals where you can, but if you’re working full time and you want a life after the career that you’re in, start now, start slow, start with smaller goals and objectives and you’ll achieve them and just eventually, you know, the compounding effect of what you do will come back to reward you. You know, 90 percent of your success yields 10 percent of your success. By the time you get to the 90-percent point of actually doing something, that’s when everything starts to compound and everything starts to click and roll in, and maybe that was just a little bit too philosophical but put the work in now, whether it’s an hour a day, an hour a week, five hours a week, and eventually it will not take you nearly as much time to do what you were doing in the beginning. It will compound. The learning curve will diminish and you’ll be set.
Larry: That’s true. I call that short-term pain for long-term gain.
Glenn: I could not agree more. I have another analogy, it’s called the hyacinth lily. If you’ve ever seen hyacinth lilies on a lake, if you – they have thirty-day lifespan cycle, and you really don’t – like they cover it until the age of 28 or 29 but what you see for the first twenty-seven or twenty-eight days was a lily here, a lily there, a lily here, maybe a couple patches over there and then literally overnight, the compounding effect covers the lake. Interesting about life and, well, it’s a great – if anybody wants to look it up, it’s a great lesson in the value of the compounding effect.
Larry: That’s great. That’s really good stuff, man. Hey, Glenn, if somebody wanted to reach out to you for something, what do you need? What can people reach out to you for, you know, I mean, you got the platform here, whatever you wanna ask for if anybody’s looking for this or needs this or has this, you know, reach out to me and feel free to give out your contact info if you want to.
Glenn: Oh, that’s actually very generous of you. You caught me a little off guard on that one. I would say that, of course, if there are – particularly in your area because I have my network up there, or if anybody, for example, needs anything, needs help down here in southeast Florida, there’s a deal you’re working down here, you wanna bounce it off – first off, first and foremost, I’ll be happy to help. I’ll be happy to speak to you and give you any tips that I can give you but the caveat there is I’m not a real estate agent, I’m not a real estate broker, I’m a real estate investor, I’m not an attorney, I don’t give out legal advice. I can just give you my experience as a real estate investor so I’ll be happy to do that. If somebody has a deal that they’re struggling with financially, a house that they have under contract or they have a lease option that’s going sideways on them that they wanna get out of and get out in a way where it’s good for them and good for me, certainly, I’d be happy to do that. As far as my contact information, I would just say that the best way at this point ’cause I keep Skype on is my Skype, just give me a call.
Larry: Awesome. And they can look you up on Skype by your name?
Glenn: Yeah, yeah. Glennfgoss.
Larry: Okay, good.
Glenn: Actually, you know what, let me tell you, I might as well give my e-mail address while I’m here as well. And, again, I’m flattered that you would ask. email@example.com. That’s the city I live in. Delray Beach. That’s Delray, D-E-L-R-A-Y, G, @gmail.com, or just Skype me at Glennfgoss, G-L-E-N-N-F-G-O-S-S.
Larry: Awesome, awesome. Man, I can’t tell you how much I really appreciate you taking the time. I mean, I know you got a lot of time on your hands ’cause you are a successful real estate investor, but I really appreciate you taking the time and spending it with us today. Thank you so much. It’s been a blessing. It’s been great, and you’re a great guy and I really appreciate all you do and your willingness to always help. I know you’ve reached out to me multiple times over the years to help me in my business in different ways and it means a lot and you’re a guy who really likes to give back and I appreciate that and it means a lot.
Glenn: My pleasure. Again, my honor and privilege to be on and I wish you and everybody at the office and your family much success.
Larry: Sounds good. Thanks a lot for being on. I really appreciate it, Glenn.
Larry: Thanks a lot.