Table of Contents

Preview

Title Page

Copyright Page

Dedication

Table of Figures

Foreword

Acknowledgements

BUSINESS ACKNOWLEDGMENTS

PERSONAL ACKNOWLEDGMENTS

Introduction

HOW THIS BOOK WILL HELP YOU

SECTION I - REAL ESTATE DAY TRADING: A NEW WAY TO MAKE BIG MONEY BUYING AND ...

CHAPTER 1 - CLICK A MOUSE, SELL A HOUSE: REAL ESTATE DAY TRADING IS THE ...

REAL ESTATE DAY TRADING MAKES FAILURE A THING OF THE PAST

SMALL PROBLEMS APPEAR LARGE THROUGH NOVICE EYES

REAL ESTATE DAY TRADING IS A CONFIDENCE BUILDER

MAKE $90,000 A YEAR (OR MORE) WHILE KEEPING YOUR PRESENT JOB

CHAPTER 2 - REAL ESTATE DAY TRADING: A BUSINESS DONE ENTIRELY BY PHONE, FAX, ...

TIME LINE FOR A TYPICAL DEAL

THE 10-STEP DAY TRADING PROCESS

WHAT YOU NEED TO GET STARTED

SECTION II - SET UP YOUR OWN DAY TRADING MONEY SYSTEM AND START MAKING $5,000 ...

CHAPTER 3 - IT’S EASIER TO FIND A HOUSE FOR A BUYER THAN A BUYER FOR A HOUSE: ...

IT’S ALL ABOUT FINDING HOUSES FOR BUYERS

REAL ESTATE DAY TRADING VERSUS REAL ESTATE INVESTMENT

THINK LIKE A SUPPLIER

WHAT KINDS OF HOUSES DO THEY BUY?

LOW INCOME DOESN’T MEAN NO INCOME

MOST HOUSES ARE NOT FOR YOU

GOLDILOCKS HOUSES—NOT TOO BIG, NOT TOO SMALL, JUST RIGHT

AVOID TOWNHOUSES AND CONDOS, MULTIFAMILY HOUSES, AND VA/FHA-OWNED HOUSES

CHAPTER 4 - INSTANT PROPERTY ANALYSIS TO IDENTIFY PROFITABLE DEALS

MORE OFFERS MEAN MORE MONEY

TWO SIMPLE QUESTIONS

A THIRD QUESTION YOU NEED TO ASK

SHORT SELLING IS NOT THE BEST WAY TO DAY TRADE HOUSES

RUN THE NUMBERS

DO AN INSTANT PROPERTY ANALYSIS

BUY HOUSES SIGHT UNSEEN

AN EXCEPTION TO FIXER-UPPER PROPERTIES—INSTANT LANDLORD PROPERTIES

DAY TRADING LUXURY HOMES

THREE TYPES OF DEALS

DAY TRADING NOT INVESTING

MAKE YOUR DEALS IRRESISTIBLE TO BUYERS

CHAPTER 5 - USE THE INTERNET AND WEB 2.0 TO BUILD A DATABASE OF MOTIVATED BUYERS

WHY YOU NEED A DATABASE OF BUYERS BEFORE YOU EVER TALK TO SELLERS OR REALTORS

WHAT IS A DATABASE?

TYPES OF DATABASE SOFTWARE YOU CAN USE

AUTOMATE OR DIE

USE AUTORESPONDERS TO STAY IN CONSTANT CONTACT

THE FORTUNE IS IN THE FOLLOW-UP

BRANDING WITH NAME, LOGO, AND BUSINESS CARDS

WAYS TO BUILD YOUR BUYERS DATABASE

TABBED BROWSING TO SPEED UP YOUR SEARCHING

ANSWERING SERVICES AND CALL CAPTURE SERVICES TO HANDLE YOUR INCOMING PHONE CALLS

VANITY NUMBERS

CHAPTER 6 - FIND MOTIVATED SELLERS—CHERRY-PICK THE HOTTEST BARGAINS AT BELOW ...

MARKETING

NETWORKING

PROSPECTING

CHAPTER 7 - SECRETS OF DAY FUNDING: GET 24-HOUR FAST CASH

SHOW ME THE MONEY

WHERE YOU DON’T GET THE MONEY

BORROW ON YOUR CREDIT CARDS

BORROW ON YOUR LIFE INSURANCE

BORROW ON YOUR HOME

OPEN RESERVE CHECKING ACCOUNTS

BORROW FROM YOUR SELF-DIRECTED IRA

SELL NONESSENTIAL, PERSONAL POSSESSIONS ON EBAY

USE UNSECURED PEER-TO-PEER LENDING SITES

GET SMALL BUSINESS LOANS ONLINE

TRY SHORT-TERM BUSINESS LOANS

USE MICROLENDERS

FIND DAY FUNDERS

CHAPTER 8 - ASSEMBLE YOUR VIRTUAL ONLINE DREAM TEAM

WITH REAL ESTATE CONTRACTORS, PROFESSIONALISM IS EVERYTHING

FOR APPRAISERS, AVAILABILITY IS THE KEY

WHEN CHOOSING A TITLE COMPANY, SERVICE IS KING

HOME INSPECTION SERVICES

REAL ESTATE ATTORNEYS PROTECT YOUR BACK

CHAPTER 9 - RISK-FREE, WIN-WIN, SIMPLE CONTRACTS: STRUCTURE BUYING AND SELLING ...

CONTRACTS FOR BUYING THROUGH REALTORS

CONTRACTS FOR BUYING FROM OWNERS/SELLERS

CLAUSES IN CONTRACTS TO BUY PROPERTIES

CONTRACTS FOR SELLING TO INVESTORS

CHAPTER 10 - NEGOTIATION SCRIPTS AND TIPS FOR GETTING YOUR DEALS ACCEPTED

WHAT TO SAY ON YOUR FIRST PHONE CALL TO OWNERS/SELLERS

WHAT TO SAY ON YOUR FIRST PHONE CALL TO REALTY LISTING AGENTS

MAKE MULTIPLE OFFERS WITH ONE DEPOSIT CHECK

PROVIDE PROOF OF FUNDS

NEGOTIATING ONE-LINERS THAT WORK LIKE A CHARM

SECRETS TO SUCCESSFUL NEGOTIATIONS

CHAPTER 11 - DUE DILIGENCE: SEPARATING FACT FROM OPINION—VERIFY EVERYTHING ...

ORDER THE TITLE SEARCH

CONTROL CONTRACTORS TO GET A VALID REPAIR ESTIMATE

USE HOME INSPECTORS FOR PROPERTIES THAT NEED A LOT OF WORK

FIND OUT THE REAL DEAL ON THE NEIGHBORHOOD

CANCEL A CONTRACT AND/OR NEGOTIATE A BETTER DEAL

VALIDATE APPRAISALS TO FIND OUT WHAT THE PROPERTY IS REALLY WORTH

READ/EVALUATE AN APPRAISAL REPORT IN THREE SECONDS FLAT

CHAPTER 12 - ONLINE BIDDING WARS: CREATE AN INSIDER LIST OF PREQUALIFIED, ...

TURN UP THE HEAT AND CREATE A BUYING FRENZY

THE SECRET OF THE WHISPER CAMPAIGN

SCARCITY OF TIME

SCARCITY OF ACCESS: CREATE A TWO-HOUR HEAD START SHORT LIST

MAKE SURE THEY ARE QUALIFIED BEFORE YOU CLICK SEND

HARD MONEY LENDERS PREQUALIFY YOUR BUYERS FOR YOU

SECURE BACKUP CONTRACTS

GET CONTRACT EXTENSIONS FROM YOUR SELLER

CHAPTER 13 - LET’S GET PAID: BOUGHT AT 10:00 AM, SOLD AT 10:30 AM

CREATIVE WAYS TO CLOSE YOUR DEALS WITHOUT MONEY

CHAPTER 14 - DUPLICATE AND DELEGATE: PUT 92 PERCENT OF THE WORK ON AUTOPILOT ...

DUPLICATE YOURSELF

HIRE IN-HOUSE PROPERTY ACQUISITION MANAGERS

CHAPTER 15 - QUICK START YOUR $5,000 TO $10,000 DAY TRADING PAYDAYS

NOW WHAT DO YOU DO?

FOUR-STEP QUICK-START CHECKLIST

ADVANCED DAY TRADING EDUCATION—YOURS FREE

INDEX

Table of Figures

FIGURE 4.1 For Sale by Owner Form/Script

FIGURE 4.2 Investment Property Analysis for Rehab Loan Submission Form

FIGURE 4.3 Sample Instant Property Analysis

FIGURE 5.1 Newspaper Groupe Screen Shot

FIGURE 6.1 Sample Letter

FIGURE 6.2 Postcard Sample

FIGURE 9.1 Instructions for Submitting an Offer

FIGURE 11.1 Investment Property Inspection Report

FIGURE 11.2 Cancel Contract Letter to Realtor

FIGURE 12.1 Whisper Campaign E-Mail

FIGURE 12.2 Short List E-mail Sample

FIGURE 13.1 Assignment of Contract/Interest

FIGURE 13.2 Option Agreement for Purchase of Real Property

FIGURE 13.3 Flex Option Agreement

Preview

What if I could share with you a system that would allow you to buy a house, never look at it, and have it sold in less than two hours, all from the comfort of your home?

And what if it was a proven system so easy that you can do it without any cash, credit, or previous experience?

And what if by simply working the system you can buy and sell 1, 3, 5, even 10 houses a month, never qualify for a loan, and make $5,000, $10,000, $25,000, even $50,000 on each transaction?

I know it sounds too good to be true, but I do it every month. And you don’t have to take my word for it. Take a look at the quotes and reviews on the back cover of this book from some of the most respected real estate authors and teachers around.

In this book, Getting Started in Real Estate Day Trading you will discover the little-known secrets of how you can profit from the current depressed real estate market. I’ve developed a system that uses the Internet, phone, and fax machines to literally buy and sell houses the same day and never look at a single one of them.

I use the system full time, but I’m also a speaker and real estate educator, and thousands of my students are now using the system to buy and sell houses in the United States, Canada, Australia, New Zealand, China, Japan, Israel, Philippines, Spain, Demark, and elsewhere.

So, if it works in all of these areas, it will work in your city or town.

In this book, you will not only discover exactly how it is done but you will also receive many free downloadable forms, documents, and even free admission to one of my intensive three-day boot camps where you will get hands-on training—a $2,500 value.

In addition to that, because you bought this book I will give you a free one-on-one strategy session directly with me or with one of my strategists to help you jump-start your Real Estate Day Trading business.

I hope you enjoy this innovative book, and I look forward to helping you get started in Real Estate Day Trading.

Sincerely,

Larry Goins

PS In your free 30-minute one-on-one strategy session, we will show you how to jump-start your day trading business and take these concepts from bookcase to bank account. We want to discover your likes, dislikes, strengths, weaknesses, assets, liabilities, where you are now, where you want to be in your real estate investing career, and most of all how we can help you reach all of your goals.

In Real Estate Day Trading, you don’t have to have experience or a college degree. We’ll show you exactly what to do in our strategy session with you. To book your free strategy session with one of my start-up specialists or me, go to www.realestatedaytrading.com and click on “free strategy session,” or call 877-LarryGoins.

Copyright © 2009 by Larry Goins. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.

This publication is designed to provide valuable and unique information. It is sold with the understanding that the publisher or author is not engaged in rendering legal, accounting, or other professional services. If legal or other assistance is required, the service of a competent professional should be sought. The author and publishers disclaim any personal loss or liability caused by utilization of any information presented in this book, course, use of our websites and or seminars. Please consult your own attorney and/or accountant before acting upon any of the information. By acting on, using or the misuse of any of the information you accept full responsibility and release and hold harmless the author, publisher, their affiliates and/or employees from any and all claims and agree to abide by the terms of this disclaimer. It is also important that you know your own state and local laws before acting on any information contained in this book.

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eISBN : 978-0-470-45496-1

To my wife, Pam,
who is always standing behind me
and believing in me no matter what I do,
to my children Linda and Noah, and in memory of
Lawrence Goins. You taught me so much
about life, and I miss you every day!

FOREWORD

To me, it is always a stunning act when someone moves from thought to action. Larry Goins has done exactly that. Not just in this book, but in his life. Through his love, commitment, and passion for life, he has deliberately and brilliantly created a new life for himself and those he loves.

And now, through this book, he has created a new life for you.

That’s what this book means to me.

Unlike so many how-to-do-it books, Getting Started in Real Estate Day Trading literally takes you, the aspirer to a better life, through a step-by-step process to transform the way you relate to the world of money and work. Larry’s book will help you create new possibilities that never existed for you before now.

Or did they?

Is it possible that we all can live in this very same world, and yet, no matter how important our lives are, miss the opportunities that are presented to us everywhere we look?

If only we could see!

If only we could see what Larry Goins, and so many others like Larry, can see—that remains invisible to the rest of us.

That’s what this book means to me as well. It’s an invitation to you to see—the extraordinary through the seemingly ordinary; the potential, immediately, of living a life beyond the ordinary—a life of immense opportunity.

It is that kind of genius that entrepreneurs, such as Larry Goins, Ray Kroc of McDonald’s, Michael Dell of Dell Computer, Bill Gates of Microsoft, and so many more create for the rest of us.

Larry’s book gives you an opportunity to take a leap beyond your current life, beyond your imagination, beyond your barriers and obstacles, and beyond your limitations.

All you need do is read it. And then, like Larry did after he read my book, do what you read.

Just think. Your future financial independence lies right here in your two hands.

As the great sports company Nike says, “Just do it!”

To your future, to your life.

MICHAEL E. GERBER

Author of The E-Myth books and Awakening the Entrepreneur from Within

ACKNOWLEDGMENTS

BUSINESS ACKNOWLEDGMENTS

I want to thank my office manager Melanie Bell. You are much more than an office manager. We have been in this together for years, and I look forward to many more years as well. Like you say, “Ain’t nothing to it but to do it!” That’s why this book is now a reality.

I want to thank my entire Real Estate Day Trading team: Cecelia Lewis, and Matt Lubisich who are in the trenches working this system daily buying and selling houses all over the United States, all from our office in Lake Wylie, South Carolina. You guys are the proof that real estate day trading works and continues to work. You guys make buying and selling houses fun . . . and profitable.

To Kristin Aneralla who every day makes me laugh: You are great at what you do—keeping things running smoothly in the office—and you always do it with a smile.

To Liz Nechio: I have never seen a more organized event coordinator. For that matter, I have never seen a more organized person . . . except for Pam. You are a joy to work with.

To Britt Walker: Britt, you have sent me all around the world to speak at events but the most fun are the fun-filled family vacations that you go on.

To Ryan Smith: You are a great webmaster and programmer and it is great to work with you! Congratulations on purchasing your first foreclosure house at 19 years old!

To Leon Humphrey: Leon you are an inspiration and a great teacher, speaker, coach, real estate day trader, and father and grandfather to your family. I am blessed to know you and work with you.

To Wendy Sweet: No one knows more about real estate finance than you. Not even me. You are a great businessperson and friend.

To Sherry Fredenberg: The original real estate day trader. We miss having you around the office.

To Ki Shin and Brandon Smith, my accountants: You guys rock.

To Michael Gerber: You gave me the inspiration to create a real estate business instead of a job. Without you this book would not have been written.

I also want to thank Richard Narramore at John Wiley & Sons for helping me put this together; Vaughn at Killer Covers who designed a killer cover for the book; Theo Bartek who took my ideas and concepts for this book and organized them in an easy-to-understand manner, making it exciting and easy to read; and Allon Thompson who asked me to get involved in Metrolina Real Estate Investors Association and gave me my first speaking opportunity.

Special thanks to Paul Bauer who has helped me become a much better platform speaker and trainer.

Thanks to all of the many real estate trainers, authors, and speakers I have met and built business relationships and friendships with over the past few years. Thanks to all of the many real estate investor associations, promoters, and other authors and speakers who have invited me to speak at their events. I look forward to working with you for many years to come.

PERSONAL ACKNOWLEDGMENTS

I want to thank my mom Ann Goins Mosteller. You have always believed in me and have never ever told me I couldn’t do something. That’s why I have always succeeded in everything I have done.

To Lynn Laikin: I have learned so much from you about life and how to be a better dad, husband, and person, and I thank you for that.

To Andy Laikin who is the smartest most successful real estate investor I know: I never make a decision without calling you first. Thanks, Dad.

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!