“When you pay somebody that’s been where you want to go, you’re buying WISDOM without the WAIT.”
If you want to succeed as a multifamily real estate investor, your best bet is to take advantage of free resources for a basic education and then find someone you know, like and trust who is willing to mentor you—even if you have to pay for their time.
Larry Goins is a veteran real estate investor with 20-plus years of experience in the space. He travels the US speaking at conventions and expos, sharing his strategies for buying a dozen properties every month—without leaving his office! Larry is also the president of both Investors Rehab and The Goins Group, and he hosts the popular real estate podcasts BRAG Radio and Brain Pick-A-Pro. Larry is committed to holding true to his moral integrity in his business and personal life.
Today, Larry sits down with me to offer advice for aspiring investors around finding a mentor and ‘accelerating the splat’ when necessary. He shares his favorite real estate strategies and explains how he has systematized his business around seller financing and lease option models. Listen in to understand what motivates Larry to continued success in real estate and learn how he pays it forward by putting people and principles BEFORE profits!
Key Takeaways
How Larry got his start in real estate
- Always wanted own business
- Tom Vu real estate seminar
- Bought first house in 1986
Larry’s favorite real estate strategies
- Seller financing
- Lease option
How Larry has systematized his business
- Buy house ‘fit and safe’
- Landlord/tenant relationship
- Lease option model
Larry’s advice for aspiring investors
- Get education (podcasts, blogs and YouTube)
- Find coach or mentor
- ‘Education is not application’
Larry’s concept of accelerating the splat
- Pleasure vs. pain motivation
- Recognize time to move on
What motivates Larry to success in real estate
- Dad passed in 1984, wanted to help mom
- Be Rich and Generous
How Larry puts people and principles before profit
- Advise against lending for bad fix and flip
- Relationship driven (vs. transaction driven)
What gets Larry out of bed in the morning
- Loves the chase, thrill of negotiating deals
- Impart expertise to students
Connect with Larry
Resources
Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
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