Get Rich Education 142: Today’s Lessons From The Housing Crisis and Mortgage Meltdown of 2007-2009
#142: Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 Mortgage Meltdown.
Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, Damion Lupo, lost worse than Keith at this time. His $20M portfolio imploded.
Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago - without regard for cash flow. It crashed.
Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning.
Top takeaway: Buy for cash flow in stable economic metro markets.
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Listen to this week’s show and learn:
00:57 Keith’s $530,000 four-plex dropped in value to $480,000 in the 2007-09 Mortgage Meltdown.
15:37 If Damion could do it all over again, what would he do differently?
20:04 Harvesting equity.
24:29 Damion won’t do deals with people in their 20s.
26:30 The next crash.
34:14 Hard money loans.
42:25 Retirement.
49:26 Choose stable markets in the Midwest and South.
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