In this episode we welcome back
a true real estate investing legend, Larry Harbolt is a nationally
known educator and speaker on the topic of real estate investing.
With over 35 years of hands on experience, Larry has
literally written the book on many topics related to real estate
Larry hosts a 4 day seminar
titled “Never Step Into a Bank Again” workshop. During this
four day event, Larry covers many specific topics related to
building relationships, structuring deals and the nuts and bolts
involved in bringing a deal to the closing table.
Larry teaches that before
running right out and asking people to hold financing for you on
their home, you must first take time to do your research.
Larry’s research involves finding homeowners that have no
debt on their home (100% equity). The second requirement for
Larry is that the homes are not owner occupied.
One of the reasons his criteria
focuses on homes that are not owner occupied is because those
sellers generally incur a higher capital gains tax obligation when
they sell their home. By agreeing to carry back a note and
accept payments over time for their home, they can reduce the
capital gains tax obligation and also spread it over many years.
Larry reminds us to ALWAYS seek guidance from a Certified Tax
Professional when making decisions that involve
Larry’s method involves
understand the market, and by selecting houses that are ideal for
long term hold as rental property. His beliefs are that
“wholesaling” and “flipping” are a job, yet investing for cashflow
with rental properties is true investing at its finest. To be
successful, you must first locate the “right type” of
Seller financing is a strategy
that is built around relationships, the seller must know like and
trust you in order for you to be successful using this strategy.
By taking time to build a relationship with a seller, an
investor can negotiate a deal that creates a win/win scenario for
both buyer and seller.
Larry’s methods involve
presenting more than one option to the seller and then allowing
them to pick which one is the best fit for them. When putting
together these offers, Larry is focused on all options providing a
true solution to the seller's problem. By taking the time to
educate the seller, they are better able to make informed
decisions. Many sellers don’t “need” the cash proceeds from
the sale of their home, they really need the cash for something
An example used in the show is a seller with medical bills.
The seller “thinks” they “need” cash for their home to pay
those medical bills. Larry teaches them that he can make
arrangements to cover those medical bills AND show them a nice
return on their biggest investment (their home). Larry can
then make payment arrangements with the hospital and often
negotiate those medical bills down to a lower amount. When he
is successful with that strategy, he saves himself money because
those bills are his responsibility.
Larry also covers the importance
of targeted marketing when prospecting for sellers. This is a
huge money saver as well as a time saver.
Larry’s seller financing course
brings in students from all over the country. This four day
course is one of the few courses endorsed by the
If you choose to take this
course, you receive the following:
3 volumes with over 450 pages of
Key Investor Techniques and strategies
14 Audio CD’s
4 Document CD’s
4 Bonus Money Making Audio
8 Advanced Quick Study Laminated
Worksheets and Formulas
Plus 3 Bonus Advanced Strategy
“Investor’s Secret” books: The Psychology of Effective Negotiating
101; How to Deal with Contractors Like a Rehab Pro and Shortcuts to
Success – The Four Questions You Must Know To Succeed in Today’s
Once you become a student of
Larry Harbolt he is available to answer your questions at any time
in the future, you may also attend the course over and over as
often as you want.