Storage Wins EP404: Rob Swanson's $30 Million Dollar Mistake, and How You Can Prepare to Capitalize on This Market Downturn
Rob Swanson is a returning guest from episodes 14 and 92, and he's back to bring the heat! Rob has been through several market downturns and understands market trends very well. He was able to see the writing on the wall before the 2008 housing crash and was able to adjust his portfolio, and profit from it! Today, he shares his insights on what we can expect during this pandemic and how new and seasoned investors can navigate these murky waters.
Key Takeaways:
- Rob saw the writing on the wall when the 2008 housing crash hit.
- What did Rob see back then that made him want to get out of the real estate market temporarily (or at least make smarter financial moves)?
- Rob started seeing prices flattening out.
- How can someone track inventory levels?
- What was Rob's $30-million mistake?
- Rob believes he should have just bought more property and sat on it while the marketing was correcting.
- How can people tell if we're in a boom/bust market vs. a pricing stable market?
- If someone doesn't have any experience in the real estate market, is now the right time to start?
- Get in the industry and learn. Be a sponge.
- Always ask yourself, 'How do I make money with this deal?' If you answer that question, you will be successful.
- You either buy for short term/quick flip gains or you buy for long-term cash flow gains.
- Rob developed a long-term investment strategy because he saw what happened during the last three housing market crashes. Rents on single-family homes always went up!
- Every single market right now is propped up with debt. From the housing to student loans, to oil, etc. Everything is with debt! Much more than we saw in 2008.
- What should people be focusing on currently if they're in a boom/bust market?
- What should people focus on if they're in a stable pricing market?
- How can real estate investors take advantage of Rob's program, Freedomsoft?
- Never forget… Cash Flow is king!
Mentioned in This Episode:
How to get more, high-quality LEADS THAT TURN INTO REAL ESTATE DEALS: The Only All-In-One, Push-Button System for Real Estate Investing
Episode 14 and Episode 92 - Rob Swanson on The Flip Empire Show
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Tweetables:
"All of sudden it went from 'real estate can do wrong' to 'oh my gosh, the world is ending.' Fear entered the real estate market in 2007."
"People say they want the result, but are never willing to do the work."
"Everybody I was selling to in 2008, the only people that had money in the market were FHA first time homebuyers. It was federally-backed loans."
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