701: The Post-Crash Pivot: Why Investors NEED to Change in 2023 w/Eric Brewer
BiggerPockets Real Estate Podcast
How to Get Multiple Offers on a House in Two Days?
"It was really hard to get a deal. It was super easy to sell it," he said. "We've seen 180 degrees now. It's getting easier already today."
The housing market is an unstable beast. As soon as you’ve got your footing in one strategy, it violently jerks you into another, often by force. This is how most investors felt during the great recession as flipping profits dried up, home sales fell off a cliff, and investors were faced with a tough question, “who’s going to buy these deals?” While many investors stood on the sidelines, hoping that someone would save them, Eric Brewer did something much different, and it’s a move that’s paid off heavily over ten years later.
Before the crash, Eric was a car salesman, but he wasn’t the type you’re imagining. His main strategy was “talk to everyone,” and it earned him salesman of the month almost every month. But selling cars didn’t make for a family-friendly schedule, so he pivoted into real estate investing and took the dealership’s owner with him. They were flipping hundreds of houses a year, making tenfold what they were used to when selling cars. But then the housing crash happened, and once again Eric needed to pivot.
Now, instead of just flipping, he’s doing wholesale deals, novation contracts (MUCH bigger profits than wholesale), turnkey rental sales, and more. As the housing market has changed, so has Eric’s mindset, never betting on one strategy to be the one that brings home the bacon. Eric has stayed ahead of the game, blatantly ignores the “expert advice” off-market investors like to peddle, and pivots as soon as the market shows signs of a move. In this flip-flop market we’ve experienced over the past two years, this is EXACTLY what investors need to hear.
In This Episode We Cover:
How Eric closes on over thirty real estate deals a MONTH using simple marketing tactics
The biggest “buyers list” no one knows about, and why you won’t find it where you’d think
Why most people HATE salespeople, and how to get around the common seller/buyer objections
BRRRRing > flipping and why the tax code favors holders over flippers
Eric’s top ways to find off-market deals and why you should NEVER disqualify a lead
Novation deals and why they’re better and more profitable than wholesaling in 2023
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
7 Situations That Cause Investors to Pivot ( & How to Play the Cards You’re Dealt)
The Best Kept Secret for Finding Off-Market Deals
How To Find Great Deals by Building an Off-Market List
Crash or Correction: Are We Repeating 2008’s Mistakes?
Connect with Eric:
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-701
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