The U.S. is bracing for impact on the coronavirus, and the markets are all over the place. It seems like there’s a daily dose of fear along with every new piece of news, but I’m here to tell you that it’s all going to be okay. I quit my job in 2009 at the height of the recession, and it was honestly one of the best things that I’ve ever done.
The absolute first thing you need to think about right now is how much debt you have. Are you overleveraged? Is that fix-and-flip going to sink you if you don’t get it sold right now? Are you relying on a refinance to fix your cash flow problems? Do you have multiple exit strategies if the next deal falls through or if you can’t get something sold?
I’m going to predict that preppers and survivalists are going to be looking for great real estate deals, so I share a few ideas about how you could capitalize on that, and I promise more on this subject in the future.
When I moved from wholesaling to traditional lease options, I found that it was a safer bet for me because I wasn’t really holding any assets. I explain how lease options can be a great safe harbor right now as everything is up in the air.
Most importantly, don’t panic! This is a great time to learn about lease options or to adjust your real estate strategy. Step back, see where the market is going, and find a new way to make some money.
Listen and learn:
- I offer some predictions for where the market is heading right now.
- How debt will slow down your ability to pivot in real estate.
- Why I moved from wholesaling to traditional lease options.
- Why now is the best time to learn about lease options.
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