Larry Goins Ultimate Buying Selling Machine

[Adam Harrison]

I have heard a lot of good things about Larry Goins and his Ultimate Buying Selling machine. How does it compare to Eric Medemar's Real Estate Investing Course: Ultimate Wholesaling, which I purchased recently? Is one easier than the other? Has anyone found success with Eric's system?

Has anyone purchased Eric's system and made money using it, in a relatively short time frame, like he advertises (3 - 6 months)? Can this really be done with no / very little money? I have never done a real estate deal but am very eager to get started.

I live in LA and there is a lot of competition for the deals, with numerous established with deep pockets. Is there a way to start using this techniques in a smaller market so I don't get outgunned and outbid immediately by the big players in town?

[Danielle C.]

Hi Adam,

First, don't fret. Yes, you can make money. The how is up to you. I am a newer REI as well. I shopped the gurus when I first started. That's actually how I found this site - researching a guru! Being new, I understand that you want to get started "yesterday". That fire inside is good, because you are going to need it.

However, you have to translate that fire into action. Everyone is right. Scour this site! I have honestly had a $10,000 education for FREE. When questions pop up, ask them. You will get great answers and excellent food for thought.

To me, with wholesaling, the bottom line is don't reinvent the wheel. DIFFERENTIATE your wheel from the others.

I'm certain that you know the basic wholesaling steps...

You have to find a farm area, get to know it inside and out, including house values. As one member here says, visit 100 homes until you don't need anyone to provide comps to you. One or two well selected 1 x 1 mile radius farm areas can be mini gold mines for you. You just have to get out there and look, compare and make calls.

While you are doing this, locate buyers. Research this on this site. You will find all that you need to locate them.

I recommend prequalifying HML / Private Money, even if you do not plan on using it. You may end up with a deal where you need cash fast... having a list of those who will work with you and knowing what their qualification are for a deal will be priceless. And there are plenty of lenders out there, you just have to look.

Then you can work on locating properties within your farm area. All the steps on locating properties can be found on this site.

You're issue is competition. Don't let them psyche you out. All the big guns were toy pistols at one point, just like you.

I think you need to study your competition... and then DIFFERENTIATE yourself from them. Being in a larger market, there is more opportunity. Look at Tampa... how many wholesalers are successfully working it? If you feel more comfortable, look outside of LA. That area is like Chicago, there are tons of smaller towns outside of city limits. There are plenty of deals to go around...

Another thing, remember, this is your business. Creating a business plan with long and short term goals are very important. Setting well defined "hours of operation" are important as well. And stick to them like you are going to a second job. That's what I tell people... "I can't, I have to work". And if your current job doesn't allow, locate a partner who is willing to go into this with you.

No matter what, don't give up, because it's your drive and intensity that is going to matter the most.

Good luck,
Danielle