038: Love to Learn Real Estate

Jul 17, 2018

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Today, my guest is Larry Goins, who has always thought about wanting to do business. Even when he was a kid, he used to go down to the sawmill and get stakes. Then, he would resell them at the flea market as tomato stakes. Then, he moved on to painting cars, lawn care, and reading books about real estate.

Larry eventually got real estate and contractor licenses. He did his very first depot in 1986, more than 30 years ago. There’s a lot of people who have not been investing that long. Larry has seen more market cycles than most can ever dream of.

Topics on Today’s Episode:

Technology is the biggest change Larry has witnessed in real estate
Fix and flip is a bit of a trap because you get used to the quick profits;what happens is you get lost and let all the wrong things become a priority in your life
Being a Hustler: Having a good work ethic, mentality of “you cannot outwork me”
Real estate is hot right now; even though real estate is like this, it will eventually go like this - business is cyclical
Why am I doing this? I’m supposed to be doing this, to not have to do this
Larry came to the realization that he has to start taking care of himself, his family; there’s more than just work, but work is his passion
Larry is a firm believer in education, but one thing nobody ever taught him was you’ve got to have a personal vision; money can’t be a part of it
Larry has always focused on business and has had a lot of acquaintances, but it’s hard for others to get him; allow yourself to be vulnerable and open up
People will remember if you’re able to give them a little something that could change their life generationally
Analogy of Business: When you first start, it’s a lot of work for you; get some staff to delegate some of the work; don’t be a bottleneck in your business
Larry loves real estate because there’s so many ways to do it; there’s so many different types, models, and sources with real estate
Take action; success doesn’t happen overnight, there’s short-term pain for long-term gain
Priorities change and you want to level-up your game; find smart guys with money and find them some deals
Be straightforward and honest with people; build rapport and get them to like, know, and trust you

Links and Resources Mentioned:

Quotes:

“The most important piece of real estate you will ever you will ever invest in is the six inches between your ears.” Larry Goins

“(MLS book) That’s just like the dark days of real estate when it was the wild, wild west.” Corey Peterson

“I have always had a really, really good work ethic. I get up early, I stay late, nobody has ever called me lazy. Even having employees at the office, I’ve always had the mentality of ‘you cannot outwork me’, right?” Larry Goins

“Why am I doing this? I’m supposed to be doing this, to not have to do this anymore.” Larry Goins

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