Storage Wins EP190: Larry Goins Dives Into How You Can Scoop Up HUD Properties for Pennies on the Dollar (Literally)
Larry Goins has been in real estate for the last 30 years and is a well-respected name within the real estate industry. Larry is based out of North Carolina and is in a very hot and competitive market. How does he find unique deals in his state? Well, on today's show, Larry explains how HUD properties help him get the competitive edge and close those deals.
Key Takeaways:
- Today's show is all about HUD properties, which has never been covered on the Flip Empire Show before!
- What exactly is a HUD home?
- How do you bid on a HUD home?
- Larry has an assistant, who he likes to playfully call the 'HUD Muffin', to help him bid on properties.
- When you bid on a HUD house, only one of three things can happen.
- How does Larry's HUD Muffin calculate which properties to bid on?
- How is Larry about to get these homes at such a deep discount (They're going for 50-70% off market value)?
- Look for uninsured properties and properties in smaller towns.
- How do you spot a mispriced property?
- What's the competition like in this space?
- How is it possible that Larry's VA makes 90 bids in 45 minutes?
- Larry has a book specifically about HUD Homes if you'd like to dive deeper into the subject. Link to the book and spreadsheet in the show notes!
- Where does Larry see the market going six months from now?
Mentioned in This Episode:
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Email Alex: Alex@FlipEmpire.com
Get Larry's "HUD Homes Half Off" Book (and HUD Bidding Software Spreadsheet Here
Tweetables:
"Remember, I'm buying these houses at 50-40%, even 30%, in today's market."
"A lot of the properties I buy are in small-town U.S.A."
"In the bigger cities, there are going to be a lot of people bidding on these houses. Look outside the metro area."
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