Anyone Using Filthy Riches Course by Larry Goins?
Real Estate Investor · Muskegon, MI · Member since 2010 · 8 posts · 1 vote
I have the course and maybe another course owner who probably has a little more experience and would like to partner up and utilize this system together. I don't have a problem with sharing the profits, just want someone with experience who may can help!
Thanks,
Ta'Quila
I get emails from Flip Nerd all the time and always delete them. But today, the subject line was How to Buy HUD Homes. Since that is what I have done for the last 25+ years, I listened to Larry Goins talk about HUD homes. So in my opinion, if you only paid $1 then you only slightly got ripped off. I hope the interview was several years old because the information was outdated, wrong, incorrect and in many cases flat out misleading. He indicated he purchased a HUD home for something like $27k that was listed for somewhere in the $70s and had only been on the market for 19 days. There is no way that happened like he indicated. It seems like there have been a couple of one post wonders on this thread and others. So maybe one of them could ask him to post the proof. It would be very easy to prove. He also talks about HUD counter offers like they are an actual counter. They are not anything but an invitation to re bid. I could go on and on....
Okay, here is my experience with Larry Goins' Filthy Riches course:
I found out that in order to find $30,000 homes that are move-in ready and don't have any code violations and are in low crime areas and where the listing agent agrees to take 20+ pictures and guarantee in writing that there are no existing or pending code violations and put my signs in the yard and the seller accepts 25-35% of list price is going to be a full-time job. (According to my business advisor at the Goins group, most of the students fail to find good deals and it takes several Goins Group staff members a full time effort to find homes that qualify their own criteria.)
I put in 1,501 offers over the course of two weeks, which required that I essentially play hookie from my full-time job in academia in order to submit and follow up on all of the agents who responded to my initial offers. I'm glad that I wasn't put on academic probation. But now I'm still left empty handed without a viable deal according the Larry Goins. But that's just to put the amount of effort I put into Goins' program into perspective.
Now of course my "business advisor" is telling me that I didn't do the course right, because I didn't pre-screen the 1,501 properties to make sure they were in livable condition before making my offer.
That way I don't fit the criteria for a full refund per the 12-month $12,000 guarantee and have to pay the 10% restocking fee for the 30-day return policy.
Some of what Goins teaches in the course is outdated, particularly the talking point regarding the flat seller's commission. Most REO agents get a percentage and no longer get a flat fee from the bank. Also, the "business advisor" that gets assigned to you will tell you that he has personally worked the course, but this is doubtful when you begin to actually probe his knowledge of the course and of current market conditions.
Anyone who was helped out by this, hit me up. Let's partner and make some real real-estate business happen and co-wholesale some deals or something. I'm eager to actually start making real money in this business.
Oh yes, in addition, good luck to getting the majority of the selling agents to even write up the contract for such a low ball offer, most will just send a verbal offer to the seller, which leaves you with no documentation that the seller rejected your offer as Larry requires at least 40 written rejections along with 40 properly written offers before he will honor the 12-month guarantee. 1) The majority of REO properties are sold "as-is/where-is" which means any addendum clauses get thrown out regardless, 2) most selling agents don't want to guarantee anything in writing, especially anything about code violations, and 3) the ones who agree to include all these clauses are usually just so desperate to sell the property because it's a gut rehab and doesn't fit the criteria of Larry's program to begin with. It's a full-time job just trying to get the agents to write the contracts with these clauses and to get written documentation that these offers get rejected.
I am an investor and a Realtor for over 25 years. I was the programs director for our local REIA for 4 years. Larry Goins was one of the speakers that I would bring back regularly because his courses were easy to follow, even for a beginner, and his prices were more than fair. I saw lots of people purchase his courses and I know a few that have done very well with his information. Like Mr. Goins, I believe in education and mentorships. I also have an entire walk-in closet filled with thousands of dollars of real estate courses but I now know that it's not necessary to have more than one good one. What is more important is taking immediate action. You won't learn everything from a course just like you didn't learn everything from going to college. It takes application in real life and that's where having a mentor or a group that can help you when you get stuck is helpful. Unfortunately, most people stay stuck or worse yet, never get started at all. The first deal is always the most frightening. A course like Larry Goins' can help you get through much quicker than most people would on their own... but you MUST get started and you MUST commit to finish that first deal. The other sad thing that I've seen over the years is that most people will go from guru to guru and never learn any one system well enough and then give up and lose faith. Real estate is a great business with so many niches and methods available to make money with... but Anthony, nothing is "full proof" Not even a J O B. It all depends on how much you put into it. No amount of information is going to do the work for you. I believe that you were more interested in knowing whether Larry Goins has a good reputation in the niche that he teaches. If that is what you need to know, I can tell you that from my experience of meeting hundreds of speakers and gurus, he is one of the better ones. There are hundreds of REIAs (real estate investor associations) around the country and they vet their speakers carefully, in order to keep their members safe. The National REIA conference even has an open mic session where people name "the good, the bad and the ugly" speakers and gurus that they have brought to their REIA. Mr. Goins has consistently remained a reputable speaker that is invited back year after year. BTW... I'm not an affiliate, I am not a personal friend, I only know him from having booked him several times for our REIA. He always delivered what he promised and we never had problems with refunds or payments. He was always kind and courteous and I remember his customer service was always quick to answer questions and solve problems. If HUD foreclosures is the niche you want to develop your business model with, I wouldn't hesitate to recommend the Larry Goins methodology. Whichever course or niche you decide on, I would highly recommend that you first read at least one book by authors like Napoleon Hill, Bob Proctor, Jim Rohn, etc. because if you don't first understand the concepts that these men teach, you most likely will fail and then blame it on the course or the teacher. Best wishes
I'd be interested. Where do you have blocks of 50 to sell?
i am interested in this HUD program, just got his book HUD homes off ebay for $1, want to get started with seller financing deals. Just attended a seminar at the local REIA
Risks
1) Home owner inspection needs to be performed
2) Code violations (where do you investigate them ?)
3) tax liens
What else ? I am a complete newbie and would like to do this in the Baltimore, MD area with seller financing.
I get emails from Flip Nerd all the time and always delete them. But today, the subject line was How to Buy HUD Homes. Since that is what I have done for the last 25+ years, I listened to Larry Goins talk about HUD homes. So in my opinion, if you only paid $1 then you only slightly got ripped off. I hope the interview was several years old because the information was outdated, wrong, incorrect and in many cases flat out misleading. He indicated he purchased a HUD home for something like $27k that was listed for somewhere in the $70s and had only been on the market for 19 days. There is no way that happened like he indicated. It seems like there have been a couple of one post wonders on this thread and others. So maybe one of them could ask him to post the proof. It would be very easy to prove. He also talks about HUD counter offers like they are an actual counter. They are not anything but an invitation to re bid. I could go on and on....
Hello to all the friendly real estate professionals, new and veterans alike. My name is Celina Rene, I'm from San Diego, CA but recently moved to Palm Harbor FL, just outside of Tampa. I would like to know if anyone is willing to SHARE the Larry Goins course they purchased? (I don't have the one thousand dollars right now, so I'm kind of desperate for someone who is willing to share the course info with me.) I work everyday in the investing side of the industry, but after many hours of self education, through Matt Theriault's info. and speaking with people, Larry's Filthy Riches course seems to be the fastest road to a paycheck. I have no doubt his strategy's work as I have employed some of the steps to find leads and have seen results already. It's just that I NEED a payday now and I have all the time in the world to dedicate to this. Sooo, I would love to know anyway I can partner with you for the info. I seek. Please let me know. Thank You kindly...and so you know I'm completely dedicated to this, I can be found on facebook as JC Eleton and my personal phone number 951-837-512six. Thank you so much, talk soon! FYI, just in case you call and it goes directly to VM it's because of the lousy area of cell phone reception. PLEASE leave me a message and I will call back ASAP! Thanks again.
I am an investor and a Realtor for over 25 years. I was the programs director for our local REIA for 4 years. Larry Goins was one of the speakers that I would bring back regularly because his courses were easy to follow, even for a beginner, and his prices were more than fair. I saw lots of people purchase his courses and I know a few that have done very well with his information. Like Mr. Goins, I believe in education and mentorships. I also have an entire walk-in closet filled with thousands of dollars of real estate courses but I now know that it's not necessary to have more than one good one. What is more important is taking immediate action. You won't learn everything from a course just like you didn't learn everything from going to college. It takes application in real life and that's where having a mentor or a group that can help you when you get stuck is helpful. Unfortunately, most people stay stuck or worse yet, never get started at all. The first deal is always the most frightening. A course like Larry Goins' can help you get through much quicker than most people would on their own... but you MUST get started and you MUST commit to finish that first deal. The other sad thing that I've seen over the years is that most people will go from guru to guru and never learn any one system well enough and then give up and lose faith. Real estate is a great business with so many niches and methods available to make money with... but Anthony, nothing is "full proof" Not even a J O B. It all depends on how much you put into it. No amount of information is going to do the work for you. I believe that you were more interested in knowing whether Larry Goins has a good reputation in the niche that he teaches. If that is what you need to know, I can tell you that from my experience of meeting hundreds of speakers and gurus, he is one of the better ones. There are hundreds of REIAs (real estate investor associations) around the country and they vet their speakers carefully, in order to keep their members safe. The National REIA conference even has an open mic session where people name "the good, the bad and the ugly" speakers and gurus that they have brought to their REIA. Mr. Goins has consistently remained a reputable speaker that is invited back year after year. BTW... I'm not an affiliate, I am not a personal friend, I only know him from having booked him several times for our REIA. He always delivered what he promised and we never had problems with refunds or payments. He was always kind and courteous and I remember his customer service was always quick to answer questions and solve problems. If HUD foreclosures is the niche you want to develop your business model with, I wouldn't hesitate to recommend the Larry Goins methodology. Whichever course or niche you decide on, I would highly recommend that you first read at least one book by authors like Napoleon Hill, Bob Proctor, Jim Rohn, etc. because if you don't first understand the concepts that these men teach, you most likely will fail and then blame it on the course or the teacher. Best wishes
I just ordered this course and am anxiously waiting for its arrival. Thank you Bianca for providing this insight of Larry- makes me feel much better for dropping close to 1k without much research lol
I would also like to know who is willing to share the course and split profits from all deals.
So is anyone out there doing this?
My bother and I see it as a very doable and scale-able....
Just wondering if I invest a few months am I wasting time...
Money is easily replaced, but we only have so much time....