BRAG Radio

In this episode, Larry and Kandas talked about opportunity zones. Our Small Town Profits site has re-opened. This is a 6-week training that Joe McCall and Larry are doing together. This is a program all about how to make money in small towns.

Topics:

• 3-day event
• What opportunity zone is
• Opportunity zone map
• Benefits in opportunity zones - tax incentives - tax rebate and discounts
• Opportunity zone fund
• Investing in an opportunity zone fund or opportunity zone property
• Different types of deferral - temporary deferral - permanent exclusion
• Why invest in small town
• Partners Program

Quote:

• "Look at the opportunity zone map."

Larry asked his team during their morning meeting what they think the reason is why most people fail. In this episode, Larry went through all of the answers and discussed each one in detail.

Topics:

• Winners of the Real Estate Day Trading Jump Start course

• 3-day event

• What his team thinks the reason is why most people fail:

  • They just don't do it

  • People quit

  • People give up

  • Lack of knowledge

  • Lack of confidence

  • No motivation

  • People get content

  • People get lazy

  • Life happens

  • People just don't care

    • Difference between being poor and broke

  • No drive

  • No determination

  • Fear of failure

  • No commitment

  • People have no money

  • Limiting belief

  • Some barriers

  • No focus

  • No vehicle

  • You don't have a WHY

• 2 things you need to do real estate:

  • Deal flow and money

• Objection versus condition

• What would you do if money was no object and you have all the time in the world

Quotes:

• "Education and information lead to competence. Competence lead to confidence."
• "Good is the enemy of great."
• "You should be giving while you're living so your knowing where it's going."

Many of you are aware that we don't buy properties in big MSAs (Metropolitan Statistical Area). We buy them at small towns. We bought and sold houses in 12 different states but we focus on marketing in 7 different counties in North and South Carolina. In this episode, we talked about why we buy and sell in small towns, problems in traditional market, and the advantages of buying properties in small towns.

Topics:

• Share Sponsor winner
• Buying properties in small towns
• Some problems in traditional markets - It's difficult for newbie to compete in a large MSA - You need some sales skills - You need marketing skills - In big cities, you need to watch your budget - You need to have a great follow-up system
• Advantages of small towns: - There's more types of properties - More ways to find properties - More types of buyers - You can go deep or wide - Easy to pick multiple markets - Easy to pull a local team - Faster, direct response marketing - Lower prices

Quotes:

• "Sharing is caring."
• "It's hard to compete in the major MSAs."
• "Small towns are forgiving."
• "You don't have to be market savvy to make money."
• "Lower prices = bigger discounts"

We are back with this week's episode about slicing the pie. Larry and Kandas talked about what it means and shared some of the different ways on how to do it. They also discussed the list of different things you can do and share some of the things they've done recently to be able to do that.

Topics:

• Updates from the hosts
• Share sponsor winner
• What slicing the pie means Different ways to slice the pie:
• Auctioning off or selling off the good stuff left behind in the house by previous owners that can add to your bottomline of the deal
• Selling abandoned vehicles
• What to do if you don't want to deal with the stuff left behind in the house
• House with double lot or with extra lot
• Increasing your income with rental properties
• Selling different property rights and get different amount of money for it

Quotes:

• "The larger your business gets and the more you scale, the less you would be able to do these."
• "Other people's garbage is other people's treasure."

In today's show, Larry and Kandas shared what they've been up to as well as some of their fun experiences last week. In this episode, they will talk about different situation and ways to analyze a wholesale deal.

Topics:

• On their firearms training
• Updates on real estate
• Ways to analyze wholesale deals - ARV - Rental income - Wholetailing - Seller financing
• What wraparound mortgage is

Quotes:

• "When you're doing what you love, it doesn't always feel like work."
• "The more tools you have in your toolbox, the more deals you can do."

In this episode, Larry shared about big money on little deals that he has been doing more of recently. In fact, he has 4 deals going on right now. It's about buying lots and Larry explained more about this.

Topics:

• Share sponsor winner

• 3-day event

• Deal of the week

• Buying lots

• No way to increase value

• Closing cost

• Running ads in the local newspaper

• Advantages:

  • Low taxes

  • Dodd Frank does not apply

  • When selling unimproved land, you are not considered a dealer

In this episode, we talked about building the buyers list. We also shared a few key tips and some of the sources you can use when building your buyers list.

Topics:

• On seller financing

• Partner program

• 3-day event

• Things you can do to build your buyers list:

  • Networking with your REIA groups

  • Call any "I Buy Houses" online/offline ads you see

  • Printed classifieds

  • Look for keywords

  • Online houses for sale

  • Geo-targeting ads on Facebook

  • Putting stickers on auction

  • Social networking sites

  • Join in every Real estate facebook group in your own market area

• What you need to get:

  • Name

  • Cellphone number

  • Email address

  • Joining social sites

  • Having your own blog

  • Attend local auctions

  • Foreclosure signs

  • Directmail

Quote:

It's much easier to find a house for a buyer than buyer for a house.

In last week's show, we promised to discuss price conditioning. In this episode, we discussed price conditioning for buyers and sellers. We also shared questions that should be asked, things to say, and how to go about doing price conditioning.

Topics:

• Share sponsor winner
• Deal of the week
• Price conditioning your seller - Questions to ask when on the phone
• Price conditioning your buyer - Questions to ask if it's a rental property - Justifying your price with your buyer - Profit potential on the deal

Quotes:

• "It's like I am thinking out loud."
• "A landlord will buy a property based on the income."

In this episode, Larry and Kandas talked about assignments versus double closes. They also discussed when to use assignment and when to use double close. In addition, they also shared some situations determining what to use between the two.

Topics:

• Show Sponsor winner

• Deal of the week

• What double close means

• Investor friendly attorney or title company

• When to use assignment versus double close

• Why you need to avoid doing a double close

• Transfer tax and closing cost

• Some examples of when to use assignment versus double close

• Small assignment fees versus large assignment fees

• When to file a Notice of Interest

• Using double close if there are multiple people on title

• Using double close when buying more houses from your seller

Quotes:

• "The term double close basically means I'm going to buy it and I'm going to sell it."
• "An assignment is not a contract."

Probably around 25 to 35% of the deals they do is renegotiated by Larry. In this episode, they talked about the importance of renegotiating. They also shared when and how to renegotiate.

Topics:

• Share Sponsor winner
• 3-day event
• Deal of the week
• Renegotiating deals
• When to renegotiate
• When you are selling properties
• What to talk about before negotiating
• Partner Program

Quotes:

• "Always ask for twice of what you want."
• "You want to look for opportunity to renegotiate a deal."