In today's show, Larry and Kandas talked about the ideal kind of sellers to look for. They also discussed buying houses direct from sellers and the questions that should be asked. Moreover, they also shared tips on how to do marketing the right way.

Topics:

• What they've been up to
• 2 ways to find deals:
  1. on market properties
  2. off market properties
• How the pool of properties is shrinking
• Looking for motivated sellers
• What a motivated seller means
• What their motivations are
• Doing direct mail or pay-per-click advertising
• Looking for deal killers
• Different deal killers
• Asking about back taxes
• Building rapport
• Generating seller leads
• Answering calls through voicemail or live answer
• Negotiating with sellers

Quotes:

• "The whole key is you got to get people to like you and trust you. You got to disarm them."
• "It is very important that you nurture and protect each lead."
• "In negotiating, the person who cares the least wins."

In today's show, Larry and Kandas dived deeper into HUD houses. They also discussed some of the strategies and techniques they used in buying HUD houses in deep discounts. Don't miss this episode!

Topics:

• What they've been up to
• Some specific strategies in buying HUD houses:
  1. Look for inconsistent number of bedrooms and bathrooms
  2. Look for inconsistent square footage
  3. More days on the market equals bigger discount
  - Typically, an HUD house is only available to owner occupant buyer
  - Exclusive vs extended listing period
  - Buyer types
  4. Look for mispriced properties
  5. Look for problems that can be fixed
  - What flag lot means
  - Problems that cannot be fixed
  6. Look outside of major MSAs (Metropolitan Statistical Area)
  7. Uninsured properties equals a bigger discount
  - Building sweat equity
  8. Bid on every house every day
  9. Look for price reductions and back on the market
  10. Less competition on uninsured properties

Quotes:

• "The longer that it (property) sits there, the more willing and ready they want to get rid of it."
• "You can't fix a neighborhood."

In today's show, Larry and Kandas discussed HUD (Housing and Urban Development) houses. Larry shared why he likes HUD houses and talked about the advantages and benefits of buying HUD houses.

Topics:

• Their HUD deals
• Difference from HUD Section 8
• Why Larry likes HUD houses
• Advantages of HUD houses
• Benefits of HUD houses
• Their HUD bids
• HUD provides PCR (Property Condition Report)
• What the field service representatives do for HUD houses
• What PCR is
• Things they check
• HUD houses being cleaned out
• No deed restrictions
• Availability of data

Quotes:

• “If you don't give when you have a little, you won't give when you have a lot.”
• “HUD does not make loans, they insure loans.”
• “There's bucks in the yucks.”

In today's show, Larry and Kandas discussed questions one needs to ask when looking for a good agent. They also talked about different activities they are doing that’s related to generosity.

Topics:

• Things they are doing to be generous
• Key questions to ask an agent before working with them
• How long have you been in the business?
• Do you work with investors?
• Do you invest?
  - to know if they understand investors
  - to know if they'll be your competition
  - to know what type of investing they are doing
• How many deals are you closing a month?
• Do you work solo or are you a part of a team?
• Do you work with buyers or sellers?
• What type of properties do you typically work with?
• How do you like to communicate best?
• Questions to ask if you are going to list a property with an agent
• What is your marketing plan for my house?
• Tell me a few things that separates you from your competition
• Tell me some ways that I can increase my bottomline and sell my house faster

Quotes:

• "Make sure you get the education, the information, and knowledge so you can actually implement."
• "You want an agent that is very fast."
• "A good agent is a good salesperson."

What type of investor are you? In today's show, Larry and Kandas discussed how you can determine the type of investor that you are. Larry also shared the story on how he lost a huge amount of money and the lessons he learned from that experience.

Topics:

• What to do to get started in real estate
• How Larry lost $75, 000
• Larry's learning experience
• Different types of investing
• Knowing the type of investing you could/should do based on your own situation
• How to do deals if you have no money
• What deals to do if you have money
• Deals to do if you don't have money but you have good credit
• What to do if you have no money and no credit
• Marketing properties
• Fix and flip investing
• Landlording
• Doing lease option or seller financing

Quotes:

• “Make sure your first deal is a home run.”
• “Wholesaling is not just a way to get started. It is a business.”

In today's show, Larry and Kandas talked about specific steps to go through to be able to get your first deal. They talked primarily about wholesaling and also shared some resources that you can use. Listen and learn more!

Topics:

• Two quickest methods for Larry:
  - Wholesaling
  - Seller financing
• Using other people's money to get started
• 5 Steps:
• #1 To Analyze a deal
  - Take the ARV (After Repair Value)
• #2 Funding
  - Line up some money.
  - Doing assignments
  - Options
  - Assignment of beneficial interest using a trust
  - Create LLC
  - Private money
  - Using IRA
• #3 Marketing
  - Run some ads on Craigslist
  - Put up bandit signs
  - Do direct mail with post cards
  - Flyers
• #4 Making offers
  - Make your offer in your first phone call.
  - Sign up for email notifications with realtors.
  - Have the realtors make offers for you.
  - Use written offers
  - Have your VAs submit offers
• #5 Sell the property fast
  - Build your buyers list

Quotes:

• "Get pass the fear factor and you got to be ready to move forward."
• "It's very important that your first deal is a home run."
• "If you're not embarrassed by your offer, it's probably too much."
• "You buy houses. You don't get sold houses."
• "You tell them what you can pay."

In today's show, Larry and Kandas discussed asset protection. They talked about different types of entities, its pros and cons, and what you need to set up your business. Don't miss this episode!

Topics:

• Types of real estate:
  - as a business
  - as an investment
• Buying and selling properties
• What a pass-through entity is
• The need to have entity for your investment
• Two different operating agreements
  - as a business
  - as an investment
• Types of entities
• Where LLC (Limited Liability Company) are set up and how you can reserve your entity name
• Different asset classes
• Setting up entities
• The problem with setting up an entity in a different state other than the one you live in/doing business in
• The state of domicile
• Purposes of Certificate of Authority to transact business in any state that you do business in
• What you need to keep in mind when securing Certificate of
• Authority to transact business
• Ways corporations are taxed:
  - C Corp
  - S Corp
• Advantages and disadvantages of C corp
• What sole proprietorship is
• What land trust is
• Buying a property in a trust
• Advantages and disadvantages of checkbook IRA

Quotes:

• "Whenever you're buying and selling real estate, you only want to have as much assets in an entity as you feel comfortable with."
• "Make sure you don't do the certificate of authority to transact business unless you have a closing coming up."
• "A Land trust provides anonymity but it doesn't provide asset protection."

In today's episode, Larry and Kandas talked about the importance of a mastermind especially in real estate. They shared their experiences and the things they learned from the masterminds they've been to.

Topics:
• Kandas' bandit signs
• What you need to be able to get into real estate:
- Money
- Deal flow
• Closing and funding a deal using other people's money
• No shortcut to success in real estate
• Investing in education
• Why being in a mastermind is important
• Qualifications to be a part of a mastermind
• Different kinds of mastermind
• Real estate mastermind
• Purpose of a mastermind
• Downsides of mastermind:
- Time
- Full of visionaries
• Integrator vs visionary
• Having a coach and a mentor
• Difference between education and implementation
• Your definition of success
• Creating your personal vision

Quotes:
• "Do not ever use the excuse of you don't have any money."
• "The quickest path to success in real estate is the day you realize that there is no shortcut."
• "If it was easy, everybody would be doing it."
• "Don't be just a follower. Be a student. "

In today's show, Larry and Kandas discuss about the importance of understanding contracts and paper works. They talk about contracts when buying properties, selling properties, lease options, leases and options, and a lot more.

Topics:
• What the hosts have been up to
• Importance of understanding the contracts you are signing
• Understanding option fees and option contracts
• Difference between a contract and an option
• What happens if the option expires
• Another type of lease option
• Land contracts and seller financing
• 3 different ways for a seller to finance a property
- Mortgage
- Deed of trust
- Land contract
• Things buyers should be aware of
• Being Rich and Generous Portion: Carly

Quotes:
• “If you think education is expensive, try the cost of ignorance.”
• “You need to understand what you’re signing.”
• “An option gives you the right but not the obligation to buy a property.”

Today's show, Larry and Kandas reflect on their personal visions. They talk about their experiences of trying to get better on focusing with their personal visions. They also talk about different ways of marketing.

In this episode, you will learn more about creating your personal vision and ways to market your deals. Don't miss it!

Topics:
• Your personal life vision
• Knowing your Why
• Figuring out what you are trying to fulfill
• Reflecting on The ONE Thing book
• Different ways of marketing
• Uncommon ways of marketing
- Door Hanger
- Door Knocking
- Post-it Notes
- Flyers
• Pay-Per-Click (PPC) Marketing
• Geo-targeting
• Direct Mailing
• Being Rich and Generous Portion: Cecilia

Quotes:
“Put all your eggs in one basket and then focus on that basket.”
“What is the one thing that I can do to make everything else easy or unnecessary?”