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The Real Deal Real Estate Show with Larry Harbolt

The Real Deal Real Estate Show with Larry Harbolt is brought to you by The Real Estate Institute of Advanced Strategies. This show will teach any real estate investor how to buy and sell real estate for long term wealth and prosperity. Listen to real estate investing legends discuss the timeless methods used to acquire real estate. Larry discusses many strategies including but not limited to Seller Financing, Land Trusts, Options, Negotiations, Tax Planning, Asset Protection, Wholesaling, Lease Options, Contract for Deed and many other creative methods that provide a win/win solution for both buyers and sellers.
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Now displaying: October, 2017
Oct 27, 2017

Today, I want to talk about my fears with investing in real estate, not that I have very many. But recently I was asked what my great fear was about the economy and the real estate market going into a future real estate crash like we experienced in 2008. I don't know if that's going to happen. I think we're seeing places going up continuously just like we did in 2005, 2006 and 2007. Money is available. Most people can get some type of financing. There is a shortage of properties in the MLS. I don't know if it's going to be like we had in 2008 but is there going to be a crash?

Oct 19, 2017

In this episode Larry discusses the importance of buy and hold and being a landlord as compared to being a hamster on a wheel working as a “wholesaler”.

With that said; also think of this as planting a garden, your properties are the seeds.

The tenants got to work for you each month in order to bring you money, this should be remembered when making decisions on how they need to be treated.  Larry believes in treating his tenants like “clients”.

Many new investors believe that they themselves need to be able to “afford” the mortgage which is simply not true. Landlord mindset should dictate that the tenants pay your mortgage, not you.

Larry also discusses how the tenants that occupy all of his properties have provided his retirement income while at the same time paying off the loans on these properties which in turn creates equity in them.

Oct 13, 2017

Welcome again, real estate friends! Today I’d like to talk with you about the Six Weakest Points of Investing; faux pas made by beginner and experienced investors alike. This is simply because of a lack of understanding of why: why you’re looking at the deal, why you’re interested in buying it, and why it could be profitable.

  1. If the house lacks curb appeal, it will be difficult to buy or sell later on. Know what you’re looking at.
  2. What are the numbers of the deal? What is the seller asking? What can it be resold or rented out for later? What are the holding costs?
  3. Talking with the sellers and negotiating for the property. Build rapport and ask the seller why they need the money.
  4. Structure your offers so they make sense for you and for the seller.
  5. Consider all your financing options. You don’t need cash if you work with the seller to create desirable terms for them and their goals.
  6. The weakest point for most investors: How to maximize the profit. Always think about how to make the deal better, such as offering the seller a higher price in exchange for a lower monthly payment.

Don’t forget to visit me at LarryHarbolt.com for all your real estate investing educational needs.

Good Luck and Happy Investing!

Oct 6, 2017

I’ve said it once and I’ll say it again: you have to know your numbers to be successful in this business. Here are the 12 most common mistakes I see investors make when beginning to analyze a deal:

  1. Taking too long to get to the deal itself; they’re usually too afraid to “pull the trigger”. Learn how to do the numbers quickly so you don’t lose deals to time.

  2. After talking with the seller, you don’t double-check the numbers they give you for any potential rehab. Most sellers have good intentions, but each part of a deal is subjective to the respecting party. Always check the numbers.

  3. Don’t do the math using a pencil. If you’re working the numbers and think it’s a good idea to fudge the numbers, it’ll be your own money you flush down the drain. You have to be a straight-shooter every time.

  4. Never overestimate a property’s rental potential. There are great websites, including RentoMeter.com, where you can check the local rents. Another great option is to call local property managers and ask them what they would set rent at for that particular size of unit in that area.

  5. Don’t overestimate the “as-is” value of the property. This is the value of the property today in its current condition, and many investors estimate higher than the market actually calls for.

  6. Don’t get “bogged down” in the process. Look at the property and analyze it quickly so you know exactly what path you’re taking with that deal.

  7. Why is the seller selling that property? You need to know what they’re going to use the money for and if they’re truly motivated.

  8. You need to understand what equity is available in the property.

  9. Underestimating the time it takes to purchase, renovate, and either sell or rent out the property.

  10. Don’t skip analyzing the deal just to throw cash at it. What’s the point of throwing cash if you don’t understand the deal as a whole?

  11. Hiding behind the analysis and become afraid of pulling the trigger and taking action.

  12. You don’t know how to negotiate a good deal or how to communicate effectively with the seller.

Don’t forget to visit us at LarryHarbolt.com for all your real estate investing education needs.

Good Luck and Happy Investing!

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