Why Its Important to Be a Student of History and Your Real Estate Investing Business Episode 903

Published: Aug. 31, 2020, 10 a.m.

I love reading about the Rockefellers and the Vanderbilts because as their families went through great economic crises, they adapted their businesses so that they could make even more money. In the Great Recession, I learned a lot about failure, and in my newest book Recession Proof Real Estate Investing, I\u2019m going to share the lessons I learned so that you don\u2019t make the same mistakes.\nIf your plan is that you\u2019re going to be able to refinance forever and keep pulling money out of your house to pay your bills, that has the potential to be a terrible idea. In the last Recession:\n\u2014I was ignoring the fundamentals.\n\u2014I wasn\u2019t saving money for unexpected expenses.\n\u2014I was ignoring the importance of cash flow.\n\u2014I was ignoring the possibility of vacancies.\nYou can\u2019t ignore the fundamentals. When you make a decision based on appreciation or speculation, you\u2019re going to get burned. If you\u2019re going to recession-proof your business, you have to build it on real estate fundamentals.\nIncluded in my latest book is the bonus section Wholesaling 101, a class on how to buy properties at deep discounts and sell them to other investors for a quick $5,000-10,0000. And if you purchase this book, you\u2019ll also have the opportunity to purchase some of my other real estate video series.\nIf you don\u2019t love my book, if it doesn\u2019t point you in the right direction to help your real estate business, just let me know, and I\u2019ll refund your money.\nWhat\u2019s Inside:\n\u2014Everything included in my newest book, including the bonus material.\n\u2014How I missed opportunities in the last housing crisis.\n\u2014Why your mentors should have some failures in their track record.

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