Business
In today’s episode, long-time real estate expert Larry Goins joins Brian to talk about his real estate experience. They talk about the current market climate and the possibility of a market turn, his decision to step back from the guru life, and some actionable items for people just getting started in real estate. Key Takeaways: [1:25] Larry has been doing deals since 1986. Throughout his 30 years in real estate, he’s done almost 1,000 deals in 12 different states, using a variety of strategies. Right now, his focus is on wholesaling properties. [3:00] Larry and Brian talk about what makes things different in today’s market than a few years ago when people started talking about the market crash. Larry predicts that if it turns, it will be after this year’s election. He also shares his personal strategy for preparing for a market turn. [5:55] Larry talks about what markets would be good for implementing his strategy. Currently based out of South Carolina, he generally buys three or so counties out from the big MSA’s because they don’t get the same marketing out there, and there is less competition. He’s had success doing this because he’s doing something other people aren’t. [10:25] Larry talks about his decision to step back from the speaking, teaching, and ‘guru’ aspect of his career. When focusing on his vision, he decided to shift his focus to deals, negotiating, and interacting with sellers on a daily basis. [13:55] He still enjoys getting validation from being up in front of people. Instead of sharing the stage with some of the big names, this has shifted to staying local and doing some deals. He also talks about the idea of being successful at one thing when you’ve got a finger in so many pots. [17:40] One of his biggest goals he’s focusing on this year is to keep it simple. When you decide you’re going to change something like that, you have to accelerate the ‘splat,’ because it’s the fall that will hurt you the most. [21:15] Larry shares some actionable items someone new can use to be successful in real estate. These include picking a market, learning to analyze, and getting your marketing in order. [26:45] Once you have those things in order, it’s time to start making deals. If you are not getting a deal, you simply have done not enough to make the phone ring. Mentioned in This Episode: Meetings Daily REIA Show REI Facebook Page Brian’s Book Larry’s Website Larry’s Book 877-LARRYGO YouTube Channel