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As we get closer to a market shift, all the top investors are rolling up their sleeves and getting ready to capture the opportunities that will come. What are the key activities we need to build into our businesses to grow during the correction? How do we create long-lasting wealth? Why is competing on price alone not good enough in this market? On this episode, we\\u2019re joined by longtime friend and successful investor, Steve Carlson. We discuss lessons we\\u2019ve learned along the way, and how Steve is creating a Wealth Machine.\\xa0

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Takeaways + Tactics\\xa0

• Every market shift is preceded by a euphoric stage. This is when money is easy to get but deals get harder to come by. Sellers start having unrealistic expectations and then venture money starts pouring into the market. It\\u2019s what we\\u2019re witnessing now.\\xa0
  
• Owning rental properties free and clear is the path to permanent wealth. Debt eats into cash flow and makes it impossible for us to get off the hamster wheel.\\xa0
  
• In this market, we can\\u2019t compete on price, but we can beat the competition by bringing multiple offers to the client. It\\u2019s about collaborating with the seller to create an offer that\\u2019s valuable and worthwhile to them.\\xa0

Real estate investing gives us the chance to build permanent, generational wealth. Yet in order to do so, we need to have a vision that goes beyond making money for now. We need to focus on the strategies we\\u2019re implementing, dial them in to make them work, improve them, and scale them so we can achieve that long-term vision. Without commitment, it\\u2019s impossible to capture the opportunities that come when the market turns.\\xa0