Flipping America 358, Investing in Uncertain Times
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No one really knows what is about to happen - to the economy as a whole and especially in real estate. Uncertainty can lead to anxiety which does not necessarily contribute to good investing decisions. Joe Thompson has been around real estate in various forms for many years and has seen markets come and go. He will be joining me to discuss the current situation and possibilities for real estate investors looking forward.
We will talk about How this economy is different from the economy shifts we\\u2019ve seen before?
What signs should investors be watching for?
If single family sales tank, where is the opportunity for real estate investors?
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Announcements:
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.\\xa0\\xa0
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- FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .\\xa0
- \\u201cReal Estate Investing Quick Start\\u201d Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
Guest: Joe Thompson
How is this economy different from the economy shifts you\\u2019ve seen before?
No way to see it coming. 87 crash - could see it coming. 2008 crash. Some saw it coming
How is it similar?
Domino effect. Retail - then landlord,\\xa0
Liquidity crisis
- self-storage - good investment
- Mobile home parks\\xa0
What signs should investors be watching for?
Don\\u2019t spend anything you don\\u2019t actually have to. I might need this money later.\\xa0
Price points of the people who still have jobs. What income levels and where are the markets?\\xa0
Geographic location and/or asset type. Start in single family - mistakes are less costly.\\xa0
Talk about the connection between the overall economy and the housing market.
If single family sales tank, where is the opportunity for real estate investors?
If the rental market implodes, same question.\\xa0
What will get a \\u201cbuy recommendation\\u201d in 30 days? 90 days?