Today I want to talk to you about making sure you work with the right attorneys and get the right information when it comes to land trusts. Many of my land trust students have gone to attorneys and been told that the strategy is illegal. This is simply not true. Most attorneys are not familiar with land trusts and have very little experience with trusts in general.
Land trusts are legal in every state. They aren’t a special document or exception to the law, they’re a completely legal strategy to protect yourself and your assets.
We use land trusts for many reasons, but one of the biggest ones is for privacy and estate planning. When you pass away, you can help your family avoid the hassle of probate by putting your properties in land trusts. It also keeps you out of the public eye and away from those looking to file nuisance lawsuits for a quick payday.
I once bought 10 houses in 1 week. I paid a paralegal $600 for each land trust, but when I reviewed the paperwork, I realized they were exactly the same contract. The only thing that changed was the name of the property. So why did I pay someone $6,000 when I was able to easily make the new trusts myself on my own computer?
At my land trust boot camps, I give you all the documentation you need to create your trust. All you need to do is fill in the information about your own property and you’re good to go. You don’t need to pay what I did for an attorney or paralegal to create trusts for you.
A land trust is simply a contract. Contracts are legal under our country’s commonwealth law. This is the law that came over with the Pilgrims from England.
Make sure you visit my website, LarryHarbolt.com, for all your real estate investing educational needs.
Also, please rate and review my podcast on your favorite podcast player. This tells me that I’m giving you the most valuable information possible.
It is important that every investor knows that value has nothing to do with money. Value isn’t just about the price you pay for any property. Value is what each person in any transaction feels they got what they wanted or the transaction will never take place. Today’s podcast will give you ideas how you can use things other than cash a seller believes has more value to them than getting cash at closing. Value is what each party is happy with getting in a transaction where cash doesn’t necessarily have to be part of the deal.
Value doesn’t equal dollars, dollars do not equal benefits, value is subjective to each party of any transaction.
It’s time to understand how value of things other than cash is monumental to your success. When you know how to use other items in exchange for equity to buy real estate can really make a huge difference in how much money you eventually make on every deal you do.
Over the years I have learned that to get quality real estate coaching has nothing to do with the cost, it has everything to do with the coach’s experience level and knowledge of the real estate business.
My own business didn’t grow exponentially until I found a mentor who would help me learn what I needed to know how to structure deals that would allow me to make the most profit.
In this podcast you will learn some of the tips and ideas I learned that gave me the ability to buy property other investors had no idea how to buy.
I do believe having a mentor is one of the biggest factors you need to be successful. I was taught, you don’t need banks, you don’t need good credit, all you need is knowledge how to structure deals that seller will accept.
Today I don’t believe most investors think about how much time and money they waste running from pillar to post thinking they are being time efficient when in reality much of the energy they spend is not as productive as they think it is.
If you are not being productive every day, you are losing a boatload of money and you don’t even realize it. is basic common sense few people ever think about, Yet, it is so important to know how much money you will make from every property you buy.
Today’s episode is about all of the time wasters as well as the money wasters almost everyone who is a real estate investor does on a daily basis and don’t realize it.
If you will follow the steps I lay out for you will always allow you to do more profitable deals simply because you are doing things on purpose, and in a timely fashion, which means you should always make more money from every deal you do.
Today many investors are making a business of wholesaling properties, the problem, most don’t have a clue what the difference between a profitable deal for the person they wholesale the property to and a deal where the investors are making a large wholesale fee. One thing is for sure, if the investor doesn’t take whether the person who gets the property will be able to cover all of the cost of owning and repairing the property, and still make a fair profit, the investors business will be short lived.
Every wholesaler must know and understand the numbers of each deal. Todays episode talks about how to calculate the numbers of each deal correctly. This information is critical for all wholesalers who plan to stay in the real estate investing business.
No real estate investor knows everything there is to know about buying real estate. There’s one thing I know for sure, the truly smart investors never stop learning and their education continues throughout their life.
The knowledgeable investors today realize that there is a lot more to learn than they already know if they want to be the best investor to make more money and benefit their family the most.
When you have an opportunity to learn from a mentor numerous techniques and strategies you can’t learn anywhere else, is pure gold in your pocket. This information can only come from one of two places, by a pure miracle, or from someone who has the experience to have completed many transactions you have never done.
Something you need to realize, today we have an aging population of people who are rapidly approaching retirement age. Many of these people are looking for more retirement income.
Todays podcast will give you several strategies and techniques to better help you be able to generate huge profits from the generation who is seeking income for their retirement years.
It truly boggles my mind today why so many investors only know how to make all-cash offers to buy real estate. This is very disturbing to me. I am seeing a total waste of creativity that is costing real estate investors many thousands of dollars every year.
I know many investors are comfortable borrowing money from different sources to buy houses. What if, all of the money sources dried up and money wasn’t as easy to get? I’m afraid if this were to happen all too many investors would go broke because they only know one way to make an offer to every seller.
It's time to change every investor’s thinking and teach them numerous ways to make offers they are completely unfamiliar with that can significantly add to their bottom line every year.
Todays podcast contains investor information that will completely change the way you make offers and the way you do business that can greatly increase your income.
Today I’m going to shares a technique many successful investors have used for many years to create huge real estate fortunes.
This one simple technique will allow you to be able to buy millions of dollars of extra real estate without needing banks.
Today I am giving you the information you need to generate unlimited money when you have none, and need some. Listen closely and follow the process as I set it out for you.
This is critical information every real estate investor who finds it difficult to buy very many good properties because of a lack of money they need.
Some investors don’t want to talk directly with sellers because feel they would be very uncomfortable negotiating directly face-to-face.
Many feel if they offer any seller less than what they are asking for their property they would insulting them. What’s the worst any seller can say to any offer you make?
Investors make lowball cash offers everyday through a real estate agent without feeling any guilt. I guess they feel bad making a lowball cash offer when they are face-to-face with the sellers because of the fear of seeing the seller’s reaction, and what the seller might say in anger to what the investor is offering.
No matter what you offer a seller it is impossible for you to take advantage of any seller by the offer you make. Because no matter what you offer any seller, no matter how ridiculous your offer is, the seller has the right to say NO!
More and more people are getting into the market of real estate investing, but as the investing base grows, so does the number of “new” gurus. A lot of these gurus have a few deals under their belt and are pushing their students into getting started as a wholesaler. There’s nothing wrong with being a wholesaler, but the misleading part is the idea that wholesalers will make bank in this area of investing.
A wholesaler is someone who gets a property under contract, then turns around and sells that contract to another investor for a profit. They are being paid for putting the deal together, and once they get their profit, they’re out of the deal entirely. Sometimes a wholesaler will “pre-hab”, such as painting, landscaping, or putting on a new roof, to increase the value for the new investor who will take the contract over. I, personally, do not do “pre-habbing”; if I don’t want a property, I don’t want any more money than necessary tied up in it so I can assign the contract and move on to a deal I DO want.
If you’re buying, selling, and rehabbing a property, that is NOT wholesaling. Wholesaling is meant to be a way to get cash to pay your bills, build capital, or make a profit on a property you don’t want for yourself. There is ALWAYS a cost to using money, no matter how you use it. Guaranteed.
If you need help to get started in real estate, check out my online courses, the Cashflow Blueprint and the Cashflow Foundations. You can find them at my website, LarryHarbolt.com.
Good Luck and Happy Investing.
All too many people today are of the belief that they have instant access to any information they feel they need by simply talking into their cell phone. Most want to learn the real estate investing business as fast and easy as they can, but my friends learning the real estate investing business is neither fast, nor is it easy to do.
Stop being in a big hurry trying to find that magic technique, the secret sauce, the perfect formula that will quickly get you big piles of money in a hurry.
When you can find a truly successful and sophisticated investor you can learn from its time you take advantage of those opportunities. You can only learn so much out of a book, or by going to real estate meetings.
Why not learn from someone like me who has been successful and a sophisticated investor who has spent many years to master my craft.
It makes sense to learn from someone who has been through the minefield so you never have to make the same mistakes and suffer the untold misery inexperience can cause you.
Having lived through a market where houses in my area of Florida lost as much as 40% to 50% of their peak value after everyone had been enjoying huge price increases on a continual daily basis.
In 2007 and 2008 and early 2009 full price offers were being made and sellers were turning down those offers because they knew someone would come along soon and offer them more.
Then came the fateful day when the bottom of the real estate market dropped out and property values plummeted. Many investors who bought houses at the peak of the market when values were high experienced financial devastation.
So, what’s the answer to not getting caught up in a situation like we experienced in 2009? Listen to Todays podcast.
During my 40 plus year career as a real estate investor, I have often thought about writing a book about all of the dumb mistakes I have made. I thought I would go over some of what many struggling investors are facing today that is holding them back and preventing them from doing very many deals.
I have met many investors who are so set in their ways that they are not willing to listen to anything you are doing different from what they are currently doing. I think this is a giant mistake!
Because of my lack of real estate education in my early years is the reason I made the mistakes I did. I want to share ideas of what I have learned over the years that I continue to see many investors doing that is non-productive and how to overcome continuing to do those same things if you will listen to what I have to say.
We all make mistakes but there comes a time when we stop doing the same unproductive things over and over. It’s time that everybody stops making simple mistakes and start learning more about making intelligent decisions that generate money and success. It’s no wonder many real estate investors don’t have a clue how to structure deals creatively simply because no one has ever taught them. Yet, I find many of these same people unwilling to learn anything that is new and different from what everyone else in their area does on a daily basis.
You can’t learn enough about how to be a successful real estate investor from a book, or from a two-hour speech by a traveling guru. Nothing could be farther from the truth. It takes time and quality knowledge to master success. Stop thinking like the masses and start thinking like the successful investors who are doing many good deals and are making more money.
Few investors really know how to determine the most they should pay for any property, most investors are just guessing. The problem I’m seeing is a total lack of education about how to determine how much to pay for any property. This is very disturbing to me as I know paying too much steals the investors profits.
Another reason I believe, is some investors lack the knowledge to accurately calculate the numbers because, number one, they don’t know what numbers to look for, and this is why they don’t know how much they should pay for any property.
Let me remind you to always examine every property before you ever make an offer to purchase it.
Few investors really know how to determine the most they should pay for any property, most investors are just guessing. The problem I’m seeing is a total lack of education about how to determine how much to pay for any property. This is very disturbing to me as I know paying too much steals the investors profits.
Another reason I believe, is some investors lack the knowledge to accurately calculate the numbers because, number one, they don’t know what numbers to look for, and this is why they don’t know how much they should pay for any property.
Let me remind you to always examine every property before you ever make an offer to purchase it.
Do you have any idea where the most profit comes from every property you buy? Are you making the most profit possible for every property you buy?
Why are you in the real estate business is to make as much profit as possible with the least amount of effort.
Today, I don’t believe anyone ever thinks about the things buyers and renters are looking for. I believe most investors fail to stop to think about what it is about each property that will be the determining factor of what will give them the most profit if they buy the property.
Something that has made a huge difference in how I recognize the highest and best use of each property I’m interested in buying is to imagine myself as if I would be the one who would be buying or renting the property. As crazy as it sounds, when you do this little exercise, it will surely give you a different and more focused perspective of what any buyer or renter will be looking for.
When I see myself as if I would be the person who will be living in the house, I look at the house differently. I hope you will see that it will change your perspective and put you more in tune with your buyers and renters of today.
Over the past few weeks I’ve had several investors come to me and tell me that they can NEVER get sellers to give them seller financing terms. For me that makes no sense: I have plenty of success in getting seller financing terms on the properties I buy, over 30 years in fact. So today I’m going to help out those investors who are having little to no success in negotiating seller financing terms on their deals.
I’ve talked with some investors who are buying upwards of 35 houses A MONTH. They already have a network and a system of lenders that allows them to pay cash for each house. This podcast isn’t for them; it’s for those investors that don’t have the cash or the network to scale their business yet to such a high level.
Cash is never the only way to buy a house; I’m living proof. Even if you have money, eventually that money runs dry and your business shrivels up. So why not just save that money for other deals and negotiate seller financing terms whenever you can?
For all your real estate education needs, visit me online at LarryHarbolt.com.
Good Luck and Happy Investing!
Raising money through private lenders is crucial to your success. This is why Alan Cowgill is back on the podcast, he’s on the show to share his tips on raising private money for your real estate deals in a way where everyone wins.
There are a number of ways that private lenders can benefit from having a way to invest their money outside of the traditional vehicles. The average person knows about the stock market and things like CD’s and the pitiful or risky returns that they offer, but they probably don’t understand real estate and how they can get a substantial return that is life changing from them. That’s where you as the real estate expert comes in.
One of the best parts is that you don’t need a mortgage broker license in order to do this. In many states you can get a private lender in the next 10 minutes. Think about what having your own private bank would do for your business and your life. Even when you understand seller financing, there are still advantages to having access to private money so that you don’t miss out on deals.
If you follow Alan’s scripts on how to talk to private lenders and knowing how this process works, can put millions of dollars in your pockets. The key to remember is that private lenders loan you money based on trust, which is why having the scripts memorized is crucial.
If you want to contact Alan Cowgill and find out more about his systems you can reach him at 937-390-0816 or mkt@acowgill.com. You can also check out his website privatelendingmadeeasy.com.
Times are changing, but the techniques and strategies that make real estate investors successful are timeless. Every one of us needs to be diversified and learn as many ways to structure deals as possible to stay alive in the real estate investing business.
Too many people today believe there are only two ways to buy real estate, buying with cash or getting money from an institutional lender. The truth is you don’t need either. Any fool can buy real estate if they have a large sum of money available to them, that doesn’t mean they are making good deals.
To be diversified, you have to be able to buy any property that you go by, whether it’s up for sale or not. Being a one trick pony is not going to get you where you want to go financially. Anything you can use to provide value to the seller can be a form of currency that can allow you to make a higher profit.
This is a very important concept to understand since if you don’t know how to make offers once the market turns and you can’t access that money, you’re business is going to dry up.
Don’t get hung up on being technique driven, learn to be diversified in the skills that allow you to make offers, no matter what the market is doing or the state of the overall economy. There is no silver bullet to investing success, but by diversifying your skills you can thrive in any market at any time.
Real estate investing is like putting a puzzle together. To get a clear picture of what you need to do you need to use all of the pieces of the puzzle if you want to be a successful investor. I talk to many investors who don’t go through the seven steps of every deal and then wonder why they aren’t doing very many deals. If you leave out any important piece of the analyzing process you stand to either lose money or not make as much as you thought possible. In this episode I go through the seven steps every investor needs to address to ensure they always do profitable deals. My best advice to every investor who continues to push through the process with no strategy is, “stop trying to push a rope uphill”.
Carefully go through every step to guarantee your success.
Systems are the missing link in most real estate investors strategies. There are better things to do than waste your time and the way you avoid chaos in your business is with systems and checklists.
When Alan got into real estate he didn’t have any systems in his business, so he looked around the world for direction on what to implement. He found Michael Gerber’s E-Myth Academy and after spending five years working with Michael’s team Alan had streamlined systems for every part of his business.
There are 30 steps that you should always walk through when buying a house, which is why the checklist is so important. Skipping a step or doing them out of order will cost you money every single time. During this episode Alan goes into several different systems that he uses to reduce chaos in his business and accelerate the purchasing process including how he organizes his paperwork, how he hires people, and how he saves time making decisions about which property to buy.
When you implement the systems that are keys in your business it will change your life for the better. Without them you eroding your bottom line and creating chaos in your business that is very hard to overcome. You only have so much time in the day and implementing systems is how you become not only more efficient, you become more effective as well.
Go to privatelendingmadeeasy.com and click on Real Estate Management Made Easy to find out more about how you can implement Alan’s systems in your real estate business. You can also reach out to Alan at mkt@acowgill.com
Today I am hearing all too often is, so many investors are telling me that the reason they aren’t making many offers to buy houses, is because they feel current market conditions are just too risky for them not knowing what direction the market is going.
Believe me I understand why those inexperienced investors are having little or no success as a real estate investor.
I get why they aren’t actually making very many offers to buy property, if they are making any at all. I remember those days when I was afraid to make offers. I was broke and if I got an offer accepted, I had no way to close the deal. I had no money and I had lousy credit.
I would set up half the night praying the sellers would accept my offer. This was because, if they did except my offer, I had no way to close the deal. It took me years to overcome this fear.
Listening to this podcast will show you why it won’t take you years to overcome your fears of making offers. Learn what to say and what to do to eliminate your fears of market conditions you think are too risky to buy real estate today.
I am constantly talking to all too many investors who are worried about what the real estate market is going to do in the near future. Any savvy real estate investor should know that market conditions only affect a certain part of real estate investing business, but not all areas. I talk to inexperienced investors almost every day who believe the real estate market is going to slow down and prices are also going to also go down. This may be true in some areas.
Having personally lived through several economic cycles over my 40+ years in the real estate investing business I have experienced several market changes where some markets went up in price, and some markets the prices went down. Today’s podcast is about how to read the real estate market and every economic cycle to be sure you make money in any economic cycle. How some parts of real estate investing are affected, and why other parts are not affected by market conditions and economic cycles.
When the real estate market prices go up and up, you can make money retailing properties, but you need to be aware, when house prices continually go up, fewer people can qualify to buy a house to live in. When this happens those people, who are unable to buy usually become renters.
When the market prices go down the intelligent investor knows that if they plan to sell the properties they buy at a retail price, may not work as well as planned to make as much money as the investor thought they were going to make when they bought the property.
If you want to magnify your real estate profits you must start thinking like a seller instead of a buyer. There are a number of reasons why a person may want to sell their home and for each reason you have to customize the way you structure your offer if you want them to sell to you.
If you’re only thinking about creating a deal that’s good for you, you’re going to have a very short career in real estate investing.
Take the idea that sellers always want cash for their property. That’s not the whole truth, sellers don’t really want the cash, the want what the cash will do for them. If you dig into the desires, hopes, and dreams of the seller and offer them a way to get those things you are much more likely to win that deal.
There is one important principle you have to keep in mind when it comes to real estate. If you do what everyone else does, you’re going to get what everyone else gets. You have to get creative with your offers and consider what the seller needs from the situation.
Asking them “what are you willing to accept other than cash?” is a great way to start the conversation and figure out what the seller is looking for so that you can structure an offer that gets them what they need.
If you understand the four parts of making an offer; the purchase price, the interest rate, the length of the payback period, and the payment amount, you can always create an offer that will get the seller what they want.
Ask questions, find out why they’re selling and what they really want, and you will be able to do more deals than you thought possible simply because you are thinking like a seller.