Larry Goins Explains Quality Versus Quantity in Real Estate Investing

(EMAILWIRE.COM, October 18, 2008 ) Lake Wylie, SC - Larry Goins knows a lot of people need to flip properties, whether it is wholesale or retail, to generate some cash to pay off some bills and to have money to enjoy life but as you get your cash flow needs taken care of and start to build your portfolio, he wants you to remember that it is not the number of houses that is important; it is the amount of income from each property. So many new investors have told him that they want to own 50, 100 even 200 properties or more but that is the wrong approach. Let him explain.

For example, let him ask you this question, would you rather have fifty houses with $100 a month in cash flow or would you rather have ten houses with $500 in cash flow each month? They both have the same amount of income. But which is going to give you the biggest bang for your buck? Which is going to be the least or most amount of headache in managing the property? Which is going to have the most repairs?

Larry Goins would like to suggest that you start out with a goal to set yourself a minimum amount of cash flow you want on each property, ours is $200. Now $200 may not sound like much, but they never buy them unless they get paid. After we purchase, fix up and re-finance the property, he puts $5,000 to $10,000 cash in his pocket. Now as you get your bills paid off and you become debt free, you will not have to get as much cash out. Remember that even though your cash out re-finance money is tax-free and you donÂ’t pay taxes on borrowed money, it is a debt and it must be paid back. So if you donÂ’t need the money when you get to that point, do not cash out as much at that point.

For more articles and a 10 part e-course on how to create your own Ultimate Buying and Selling Machine! plus over 50 training audios, simply go to www.LarryGoinsFreeOffer.com where you will gain instant access to all of this plus 51 exclusive, editable Forms and Documents, two real estate investing eBooks, a personal coaching profile, nationwide wholesale property listings, weekly training teleconferences, a subscription to my weekly investing newsletter, Admission for two to Investor Palooza and Much More!

Contact Information:
The Goins Group, LLC
Larry Goins
Tel: 803-831-0056
Larry@LarryGoins.com
http://www.larrygoinsfreeoffer.com

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er.com.

The Goins Group, LLC
Larry Goins
803-831-0056
Larry@LarryGoins.com