Ep #335 – Larry Goins – Real Estate Automation & Negotiating

Here is some of what you will learn:

The value of CRM
Understanding RVM (Ringless VoiceMail)
Phone harvesting needskip.com
Predictive dialing mojosells.com
Facebook Custom Audience
The value of a mobile notary nssnotary.com
Mirroring and matching to build rapport
Qualifying questions
Build value
Getting to seller financing
Understanding the IRS Installment Sell

To learn more about our guest please click here

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Full Transcript Below:

Larry Goins – Real Estate Automation & Negotiating (Ep335)

Intro: Hi! I’m Rod Khleif. Each and every week I record an interview with a thought leader that I know you’re gonna get a ton of value from. Now here on YouTube are the video versions of my podcast, Lifetime Cash Flow through Real Estate Investing. Now to make sure you get the latest information please subscribe and hit the notification bell. Let’s get started.

Rod:   Welcome to another edition of “How to Build Lifetime Cash Flow through Real Estate Investing”. I’m Rod Khleif and I’m thrilled you’re here. I know you’re gonna enjoy the gentlemen we’re interviewing today. He’s a super nice guy. He’s name’s Larry Goins and Larry is an expert in the single-family space and so you’re wondering why do I have him here on this show? Well Larry also is very very knowledgeable in the areas of automation which is something that you know ties right into multifamily especially if you’re going direct to seller marketing. And he’s been very successful in small towns. So we’re gonna dig into a lot of these things with him and personal vision and life style. Larry welcome to show brother

Larry: What’s going on there and how you been?

Rod: Good good good it’s good to see you my friend. And you know by the way guys Larry also has a podcast he’s a fellow podcaster. It’s called “Brain: Pick a Pro” and so you’ll need to check that out you know. Larry’s written a lot but Larry take a minute and tell my listeners a little about your story, why you love this business? how you got in it? maybe and why you keep at it?

Larry: Well you know Rod, I grew up small-town USA in a little town called Hickory, North Carolina and we didn’t have a lot of money. In fact I’ve never been to college you know I’ve been to the school of hard knocks and but I always had a desire to do better, to be better, to have more, to do more, and to be able to also help other people not only have my family, but other people less fortunate as well. So I went to a real estate seminar. I mean imagine that right but I went to a real estate seminar and I signed up for the I mean it was a preview and I signed up for the three-day and I kind of got the bug then. And I just started reading everything I could on real estate and now you know there’s podcasts. There weren’t podcasts back then. Now there’s webinars you can get on back then it was teleconferences right. And you know there’s even REIA groups you know I bought my first house over 30 years ago and it was an FHA non-qualifying assumable loan. They stopped rolls in 1978 right

Rod: I remember those. I had a ton of them yeah

Larry: Exactly exactly and they were a great way to do your first deal or two. You can assume a loan that somebody had an FHA loan, you can assume that loan and all you had to do was fill out a one-page paper. You didn’t even have to put your social security number on it right. You didn’t have to qualify or anything and it was great it really was but that didn’t last long. So we had to learn and I’m just evolved over the years and I’ve actually bought and sold houses in twelve different states and I’ve done wholesaling, I’ve done fix and flips, I’ve been a landlord, I’ve owned residential, commercial, multifamily, mobile home parks. I’ve actually owned two mobile home parks. My first and last it was the same one right

Rod: That’s interesting. I’ve got a good friend that loves them but that’s cool. So let me ask you this my friend you know I know that you’re also very very good at seller financing. Can you speak – well let’s not start there actually. Let’s start with marketing and automating that and it’s really just automation in general. Can you speak to what you’ve done to automate your infrastructure in your business?

Larry: Absolutely there’s a lot of things we’ve done back when I was getting started years and years ago. I mean we would do you know Direct Mail or we would go out and knock on doors and things like that but now you can do direct mail. We have when a call comes in it automatically goes into our CRM right, our customer relationship management software, it automatically creates a task for the acquisition manager and then they call the person back if they don’t answer the phone live, everything goes right into the CRM, it creates tasks and opportunities and we can click a button and send out a contract. There’s just so many different things we can do we’re doing voice blasts, ringless voice mail, text broadcastings, and just so many things we’re using predictive dialers to cold-call people. There’s just so many things you can do. And now you know we have a business that, I love residential real estate, I like talking to the people but a lot of the things we do we’ll relay over to multifamily or office or whatever

Rod: I want to stop you just for a second because you throwed so many so many great bullets out. I’d like to drill down on some of them before we move past them because you know first of all, if don’t mind, can we go back to the CRM? can you talk about the platform that you’re using now and how you like it?

Larry: Yes we use a platform called PODIO okay, many people probably already know it. There’s a lot of CRMs that are out of the box but I needed something that was customizable and you can change it and I guys have a script that they go through. When the phone rings they answer the phone a script will pop up they just go through the questions that’s all they do right

Rod: I said you can have people working in their underwear at home and the phone rings and boom via you know VoIP voice over IP are right there on the computer they see questions to ask okay. Podio is awesome by the way guys a couple of free ones that I talked about my coaching and courses one CRM is really Simple Systems. Another one is Zoho but okay. So I want to drill down on some of these other things Larry because they were I just don’t want to blow past them. You do a voice blast right blast right. So is that the ring list thing is that slide master what do you use for that?

Larry: Yeah it’s like slide dial or slide broadcast or ones that you use. We do aren’t that and that’s called RVM ringless voicemail. So in other words you’re not bothering people. You drop on the voice mail, you pre record a message and then you set it up and it goes out there phone doesn’t even ring all of a sudden they have a voicemail and they listen to the message right. And you can use this for follow-up for initial marketing and a lot of different things

Rod: Well so again and I want to drill down just a little bit more and guys don’t think this can’t work for multifamily. If you’re in the sweet spot of say 5 to 30 or even 40 doors, you’re dealing with mom-and-pop sellers okay

Larry: That’s right

Rod: Sellers in many cases and you know if you can get their phone numbers, this is a great way to maximize your reach and that you know I’ve got the slide broadcast. I personally have not used it but I’ve heard great great things about it I’ve heard great things about Podio as well from a lot of the hitters in the single family space that use it. So RVM, slide broadcast, so you do texting as well?

Larry: Right there’s voicecom, there’s textcom. There’s a lot of different ones out there that you can use for text broadcasting but you can have a list, upload that list, and broadcast them like let’s say you’re looking for a property manager okay maybe you’ve got a property that you bought in another town and you’ve got a list of 20 different property managers right. You can send them a slide broadcast or you can send them a text broadcast, hey I’m interviewing property managers for a new property I just acquired in St. Louis or wherever

Rod: Love it love it love it now you know let me actually I skip past something what do you do to get phone numbers?  what do you use to get owner phone numbers?

Larry: That’s a great great question. There’s a few tools out there but my favorite one Rod is needtoskip.com You can take any direct mail lists that you have that has a name and an address you uploaded it needtoskip.com and then you upload your credit card everything you put all your information in and then they will research and they’ll have a hit on about 60% of your list and they will send you back the phone numbers from other people your direct mail list

Rod: Love it love it. Now guys if you haven’t heard me talk about this before. There is a little nuance with single family versus multi family as it relates to mailing. Now I know you’re mailing as well correct?

Larry: Larry yes sir sure do

Rod: Okay and when you, if you pull a list of multi family what you’re gonna find is most of the time are very very often those properties are owned in entities. So they’re owned in LLC’s or corporations and if you mail to the register agent or the corporation well you know what’s gonna happen to that mail and so what we did we actually did it in the mobile home park space and I got this idea for my friend Kevin Buff who’s got the number one mobile home park podcast out there but what we did was we hired a bunch of virtual assistants and we had six of them in the in the Philippines, they all spoke English, they worked 40 hours a week, and we had six of them working full-time for a dollar ninety three an hour each so I had I had six people working for under 12 bucks an hour and what they would do was they would they would research the name well they did a lot more for us as well but one of the things they did as it relates to this conversation is they would research the name of the entity in the Secretary of State’s website whatever state you’re in and they would see who the principal’s were. They see the owners were and then we’d get home addresses and then you get to, then you could you this resource you just said need to skip we used LexisNexis just because I owned a real litigation support company back then but you can use TLO is another one that I’ve heard of but it’s kind of hard on you they’re very regulatory. This need to skips a great tip I appreciate that but then we get the phone numbers and then you know there are, I don’t do you use VA’s or do you just use domestic help Larry?

Larry: We actually use both we have

Rod: oh okay yeah cuz I will tell you if you do your research and you do your screening there are people in the Philippines that sound like they’re from Wyoming. We had one guy Leo that that sounded like he was from Wyoming and he was five bucks an hour. So but the point is in our courses we go through you know how to how to screen them it’s a little different than hiring somebody here you have screen them very very carefully and then you have to test them it’s not like something like hiring somebody here might get the resumes are irrelevant but it’s still a great resource. So back to, so you do texting once you’ve got that phone number you can text you can do the slide broadcast where it leaves that recording on their mail and let me just see look at my notes here okay the note ring okay. So please continue, so we’re talking about automation you’re using a CRM for all these things did I cut you off before you finish? was there anything else you can add?

Larry: No we actually like to go on the marketing side we do use Podio, we use RVM, we use text broadcasting. We also use a dialer to cold-call people. You can have one person whether it’s a VA in the Philippines or whether it’s a person here in the States, you can have one person sitting in a desk or you know with their phone and you upload your list to a service called Mojo mojosells.com or Vulcanseven.com we like mojo the best but you can upload that list and it’s a predictive dialer and it can call one, two, or three numbers at a time and then as soon as of them picks up it connects you and pops up their information so you’re looking at and you know exactly who you’re talking to and then you can get on the phone and talk

Rod: I love it what was that mojo what was that mojo what?

Larry: Mojosells.com

Rod: Love it awesome awesome. So that’s on the marketing side automation. What else do you automate? Now in the multifamily space you can’t push a button into a contract. In fact guys those are you listening do not do a multifamily contract unless it’s residential multi-family you know two to four units that you could do you could use you could do the you know the simple contracts but if you’re gonna do a contract on five plus doors, my God you better have an attorney. I’ve done thousands of contracts and I use an attorney every single time to this day that’s a fighter contract but I still use an attorney because they’re things you’re gonna miss, things you forget to put in and on and on. So you always always always use an attorney but what else if you could think multifamily put your multi-family hat on for a minute Larry what else might you want to automate in this realm?

Larry: Well here’s an idea that will work for whether it’s multifamily or anything is you know you want to be able to, a lot of people are just doing direct mail or they’re just calling or they’re just Facebook Ads. So let’s say you’ve got a list of multifamily units you know five to fifty units or whatever, then what you’re doing is you know you want to have that direct mail list you’re gonna mail those you’re gonna have a VA in the Philippines or need to skip or TLO, we have TLO as well but it’s harder to get and you’re gonna get the phone numbers but then here’s another thing that you can do. So you’re gonna hit them with Direct Mail, you’re gonna hit them with cold calls right you left them a message, instead of an RVM you know Wow did not just get a postcard from these guys? and now they’re calling me and then what you do is you upload that list to Facebook and Facebook will create what’s called a custom audience okay a custom audience. So now only people who have a Facebook account that have that phone number or that email address if you have that or that address or that name will see your ad. So now they’ve got a postcard or a letter in the mail, you left them a voicemail, and they saw you on Facebook they’re like wow these guys are everywhere maybe I better call them right

Rod: Love it love it love it love it awesome awesome. So before we move on is there anything else you can think of on the automation right now? I didn’t give you any time to prepare for this so you’re already knocking it way out of the park but if there’s anything else I don’t want to move on if there’s anything we missed

Larry: Well some of the things that we do on the residential side and it could apply I guess to multifamily is you know I buy all my stuff over the phone okay. I mean because I buy in multiple states I mean of course yes you’re gonna go out and do a field inspection and all that but for that negotiate over the phone

Rod: All right all right let me stop let me stop you that absolutely applies in multi-family let me tell you what I mean. Guys, Larry and I are both long a tooth and we remember you know listings in the MLS books and that’s how you found deals but I’m gonna tell you that with laptops and with the internet, you can do just about everything in your underwear at home as far as your preliminary due diligence on the property. I won’t even go fly to look at an out-of-state property unless it’s under contract okay. So all of that like you just said Larry can absolutely translate over. You’ve got Google Earth you can go down and look at the street view you can drive down the road and on Google Earth and see what’s on the corner. You can you know you know and if there’s a strip club and a liquor store and a pawn shop that’s a clue okay. You can run spotcrime to see what the crime is around that area. You can look at the cars in the parking lot. So there’s so much you can do. You can do the area research. So know I’m sorry I stole your thunder there please please continue with your thoughts on it and because it absolutely is doable like you described

Larry: Absolutely absolutely. We used the computer in the internet all the time. We look up the crime like you said you can use spot crime you can use zipskinny you can use crime reports you can even use Trulia. Trulia used to have a heat map that the worst the neighborhood the more red it was. I think they thought red was a negative connotation which it is so they changed it from green to blue instead of green to red right

Rod: Sounds like Democrats on trillion. I’m kidding

Larry: Exactly they wanted to go blue instead of red right that’s a good analogy I like that I like that but yeah we also use a Mobile Notary. If we need to get something signed by somebody and we need to get it signed quick, in my business I could be on the phone with the seller right I could be on the phone with the seller and I can negotiate a deal right and literally within two hours I will have a Mobile Notary at their house signing the paperwork within two hours of meeting

Rod: Wow wow wow wow so I want to leave, I don’t want to move past this real quick here. So guys if you’re mailing, let’s say two to ten doors in a market that you don’t live you could absolutely do what Larry’s talking about here. You could do the mails, the calls, the text, and all of that stuff and then when you’re on the phone with the seller, you could you know and that you know actually I would say two to four doors would be better but if you’re doing that, if you go above five I don’t know five to ten you probably still could do a residential contract and you know I know I’m refuting what I just said a minute ago. I would recommend you use an attorney at that point but you know if you’re really seasoned to me, probably a five to ten unit I personally wouldn’t, over that I would but let me say this, let me ask this, how do you find the notaries in that market? Is it like something you’ll find on Google? or how do you find these people?

Larry: Well that’s the best part. I’ve already found one company and the one company they have a network of Mobile Notaries all over the United States. Let’s say I found a property in Dubuque, Iowa but the owner lives in San Diego right literally I can tell that owner in Dubuque, Iowa I could say you know the properties there I could say look I know you’re in San Diego, I’ve got a person that’s out in your area I could have them in at your house in a couple hours to get this paperwork started so we can get the due diligence process going

Rod: Okay I love it I love it and what’s the name of the company

Larry: The name of the company is NSSnotary.com that stands for National Signing Service and NSSnotary.com and check this out Rod it’s only $75 come on

Rod: Oh that’s a no-brainer that’s a no-brainer because you know again if you cut a deal with somebody and you know that’s got a three, four, five, six, seven unit property and you cut a deal and then they start thinking, did I you know did I move too quick or doing you know they start getting sellers remorse but if you’re in their door in two hours, they haven’t got a chance to get sellers remorse and no I love it. That’s a great strategy and you know again let me go back to the attorney with the contracts thing because I kind of waffled on that a little bit you know I’m used to dealing with much larger numbers. So you know we closed on a 403-door property this week with you know 208 a couple weeks ago 174 next week. So you know I’ve got the mindset you must have attorneys now but when you’re in the smaller properties, you’re okay you know if you’re a little bit seasoned to use a real estate approved you know realtor approved contract for a smaller property. So because they’re you know the local real estate associations in pretty much every state have made them very fair and now of course people like you and I Larry we wrote our own contracts back in you know and I’m sure you have your own and I wrote my own back when I was doing single-family but alright. So that’s automation you gave some great resources thank you for that. Let’s… excuse me, now let’s talk a little bit about negotiation cuz I know you’re great in negotiation you know and I mean I’ve had some great negotiators on the show I had Chris Vaughn with us who wrote “Never Split the Difference” you know that FBI hostage negotiator but there’s so many people

Larry: That’s a great work

Rod: Yeah I had him on the show actually yeah I had him come to my mastermind too. I’ve got a mastermind with about four billion in assets and it represented and I had him speak there and it’s just incredible but listen, there are so many aspects to negotiation. I want to hear your take. So let’s give some examples of strategies that you’ve used successfully to negotiate with let’s say a seller

Larry: Well number one people do business with people they like and trust right. A lot of people say people they know, like, and trust. I’ve had people and accept an offer they’ve never met me before within nine minutes, they agreed to sell me their house for a lot less than they were asking right in nine minutes over the phone and they didn’t know me for matter right. So you’ve got to spend a majority of the time building rapport. You got to make a friend right “Make a friend make a sale” right you know what can you ask them? you got to find out about them you know what do you do for a living? what do you like to do in your spare time? right so you got to get a little personal with them. You also need to I mean there’s a lot of people out there even in the multifamily space Rod that are don’t want us they’re tired they’re done right. They’re over it they’re done they want to get rid of it. So you need you need to commiserate with them a little bit give them some empathy right. You also want to mirror and match people. If people are real fast if they answer the phone, “Hello, how can I help you?” you know you’re gonna talk back, “Hey this is Larry how you been?” right if they’re like hello then you’re gonna slow down a little bit hey this is Larry how have you been. Notice I said how have you been not how are you doing who do you say how you been two people you know right people you know. So once you built a little bit of rapport with them, I’m sorry?

Rod: I said that’s interesting how have you been? on your first phone call hahaha

Larry: Exactly exactly then you got a qualify them right. You got a qualify them. You want to find out a little bit about that seller or about that property and why they’re selling right. I’m a firm believer that prescription without diagnosis is malpractice right. So you could even say something along the lines of you know I’m a firm believer that prescription of without diagnosis is malpractice. So let me ask you a few questions to see what, if anything we need to do to help you right and so and that’s almost like a takeaway. So like I’m not saying I’m gonna help you I’m not trying to get you to sell me your property. I’m just saying let me ask you a few questions see what if anything we need to be doing, ready? Just keep it simple and then once you qualify the up a little bit you want to build some value. Show them what you know, show them what you’ve done. If you have if you’ve never bought a property before let them know about the edge education you’ve gone through right

Rod: Let me stop you for one second. Let me stop you for one second I’m sorry I don’t want to pass the qualification any other qualifying questions you might ask because guys you want to make them think you may not do it and it’s so important you want to give them, make them just a hair uncomfortable just very it’s very subconscious but besides the one you gave and any other qualifying questions you can think of I know I’m catching you off guard with this stuff

Larry: No no it’s okay I’m glad to do it you know I like to ask the question tell me about the property that’s causing you problems right okay all right and remember you want to make the phone ring even if you’re using an RVM or text blast or whatever you want them to call you right or Direct Mail you want them to call you so you can answer the phone and say hello this is Larry how can I help you? Yeah I’ve got a property I’m thinking about selling or I might be interested in selling right. Another thing we ask is you know what’s going on in your life or business that has you thinking about selling your property?

Rod: Oh I love it that’s a great question man, shut up and let them answer that’s a great question

Larry: Not only Rod not only do you let them answer but when they give you the answer as to why they want to get rid of the property, it’s very important that you say these words just to clarify what I’m hearing is you’ve owned this property for years, you’re getting older, you’re tired of dealing with it, it’s a management headache, your kids don’t have an interest and you just want to get rid of this property so that way you don’t leave a headache and a burden to your family, is that what I’m hearing? And when you repeat it back to them it’s much more stronger than them just saying it themselves

Rod: Love it love it. It really cements it cements no I love it okay

Larry: It reinforces the pain

Rod: Right so you qualify them and sorry you were moving into the next piece and I just wanted to do a little more qualification what was the next piece

Larry: Sure the next one is you’ve got to build value. Show em what you know you know, show them what you’re talking about and you know the market the economy what’s going on even in residential property I will tell them you know I buy and sell a lot of properties and let me tell you what properties similar to this are going for right now right you know whether you sell your property to me or not maybe I can help you down the road whether we do business or not. That’s showing value and showing that you know what you’re doing and you’re not trying to close them you’re not trying to sell them but we are closing them right

Rod: Sure you are sure you are sure you are love it love it okay

Larry: Absolutely and then after that you’re gonna build desire you want to build desire for them to want to work with you right. You’re a problem solver you’re offering solutions. In fact I might even say you know we’re not just a quick cash buyer I’ve got many different ways to help you I’ve helped a lot of different property owners sell their properties many different ways and we’re able to work something out that’s beneficial for both parties which is what you want isn’t it?

Rod: Right and then talk about how you Segway into a seller financing conversation because that’s something my listeners should hear as well cuz guys there’s nothing better than seller financing

Larry: Absolutely and I do a lot of seller financing you know if the seller is an X price and I’m an X price you know whether it be twenty thousand less or two hundred thousand less or whatever I might mention to them well you know on a property like this you know I’ve got a way and I’ve worked with a few people in the past that I’ve been able to help them get their price, keep getting cash flow without having to deal with the headaches of dealing with property managers and tenants and things like that, is that something you’d like to hear more about? So I get them intrigued and I get them to ask me right. I get them to ask me. And I’ve negotiated no money down seller financed deals and payments less than a regular mortgage right

Rod: Me too many times I’ve done deals where I’ve made a payment for a year because the property needed so much work I’m like listen let me put the money into the property first to protect your investment because you know it’s rundown and it was the truth in it and you know let me add something you know the other thing you could add to that to that intriguing question is you know I also you know I’m also able to help people save a lot of money in taxes through this methodology because really they’re only paying taxes on the amount they receive every year. So it’s you know I can increase you can increase cash flow you know if you show somebody listen you’re gonna sell this property for million bucks and you put it in the bank in 1% here’s what you’re you know you’re very often dealing with retired people that are literally just looking for cash flow and you show you here’s what your payment’s going to be in the bank you know if I’m paying you five, six, seven percent interest and you’re only paying taxes on the amount you receive from me every year, you’re gonna make three times in cash flow what you’re gonna get from the bank. And so it’s a real compelling argument if you’ve got you know their property

Larry: Yeah we’ve got a whole process we go through with that and we tell them you know well let’s say you know you told me you bought that property for $200,000 20 years ago you know and you’re selling it for 800 you got a $600,000 gain you’ve depreciated it down to zero you’ve got a $800,000 gain that you’re paying taxes all right. So that eight hundred thousand even though its long-term capital gains right you’ve got, that’s a hundred and twenty thousand dollars coming out of your pocket just like that. So how would you like to be able to not only get your eight hundred thousand, not pay taxes on it, only pay the taxes in the year you receive the money and have passive income coming in at the same time without having to deal with the tenants?

Rod: And that’s an income and passive income that’s much higher than you if you cash out okay exactly you know our retired person is not going to take their money and put it into another high risk investment. It’s going in the bank. They’re not gonna risk their money in the scary stock market or anything like that. So you know that’s, it truly is a win-win it helps, you’re helping and particularly

Larry: And we tell them to grab a pen, grab a pen and I want you to write this down because I want you to talk to your accountant about this. I want you to write this down, the IRS has a RC an Internal Revenue called the installment sale right called the installment sale and your CPA will understand what that means okay and by me encouraging them to talk to their CPA about it right and then we’ll talk in a week or so by me encouraging them it takes down the defense that I’m trying to scam them. Yeah I’m trying to tell them something that won’t work for them right

Rod: Love it love it love it that’s a great tip great tip

Larry: And then you have their CPA tell them what’s gonna be the difference if I put this eight hundred thousand or really six hundred and eighty thousand dollars in the bank at 1% versus I get a monthly payment coming in you know

Rod: Help yourself they’ll help you sell

Larry: Exactly exactly

Rod: Yeah love it love it so let’s talk a little bit, let’s shift gears now. Let’s talk a little bit about vision and the importance of vision you know you’re a real motivated guy very successful, talk about you know for someone to create that success in their life, what they might do towards that area of their life?

Larry: Well for many many years Rod I was chasing the dream living the dream chasing the dream. I was up early staying out late, working many many hours and I realized that I had become a slave to my business right. It wasn’t, the business wasn’t serving me, I was serving the business right. So I had to take a step back and this was about a year ago I took a step back and said hey there’s some things I just don’t want to do anymore like you know I’ve written several best-selling books. I travel around in Expos and conventions and I’ve shared the stage with Robert Kiyosaki, Tony Robbins, Donald Trump and I just decided I didn’t want to do that anymore. I didn’t want to see airports, hotels, and Ubers anymore. So I loved being on the phone I love talking to people. I loved the art of the deal. I love doing deals so I’ve got a team right outside my office and they’re handling the marketing, the lead generation, the leads coming in and then I get on the phone and I buy houses and I love it and we’re buying and selling 10 to 15 a month and if I don’t want to come in I don’t come in if I want to come in I come in and I just enjoy it. I love chasing the deals yeah and it all started with what do I want my life to look like? right what do I want to be doing? I like being around people I like the camaraderie whenever we get a deal we ring a bell in the office everybody claps. I love that. So it all started with what did I want to do? what do I not want to do? And you know it’s like you said you’ve got to start with the list of what do you want everything you want to be have and do right. I mean you taught that on my podcast. So it’s really really good to do that. You want to start with what do you want your life to look like? right and don’t put limitations on it what do you want it to look like then after you do that you’ve got to sit down and figure out how much is it gonna cost me to generate this lifestyle that I want. It’s not a matter of you know how many sports cars can you have, how many houses do you have, its what do you want your life to look like right. And then what is it gonna cost to do that right and and you got to have the mentality how much is enough? right how much is enough? And you determine what you want right and then you determine how much is it gonna cost to get there, then and it becomes more about a personal vision then how many properties can I own? how many doors can I own? how much passive income can I generate you know you’ve got to have a number right. Once you get to that, then everything else is gravy and you can do whatever you want to

Rod: Well you know I’ll add something and I’ll add a couple of things that it was really good what you just said in you know you can reverse-engineer how to get to those goals once you know what it is you want you can just determine you know how many properties do I need how many doors, you know how many calls do I have to make to get those doors what do I have to do and you back all the way into what you do every day to achieve those but what I like about what you said is you’re looking at it through a lifestyle filter you know and then I will add something else and guys those are you listening you want to play to your strengths. You want to play it because your strengths are gonna be what you love doing you want to be doing something you love like you said you love the camaraderie Larry you like to ring in the bell you like you know the you love talking to sellers. So figure out guys in this multifamily space, figure out what you love to do and either hire or align or partner with someone that does the opposite and a combination that we see very often in this business is because multifamily has a real analytical component and then you get and but you also have to build a team and be out there selling. You have to sell investors on your deals. You have to sell you know sellers to do business with you. You have to you know develop relationships with brokers and bankers and everything else so there’s an outwardly facing component and then there’s the analytical component and some of the best partnerships we’ve ever seen are a combination of one guided super analytical woman and the face of the company that’s out there you know the mouthpiece for lack of a better way to describe it and so you know and that combination is incredibly powerful because they’re playing to their strengths and would you agree with me on this Larry what I just said?

Larry: absolutely absolutely that is so true that’s so true

Rod: Okay great great great well listen my friend you have added a ton of value. I really appreciate you being on the show. People you can check out his podcast at Brain: Pick a pro and his website is LarryGoins.com, Larry, great great hanging with you my friend and I’m sure we’ll talk again soon

Larry: Sounds great man. Thanks a lot for having me. I really appreciate it

Rod: My pleasure buddy take care

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