Why It’s Important to Be a Student of History and Your Real Estate Investing Business » Episode 903

I love reading about the Rockefellers and the Vanderbilts because as their families went through great economic crises, they adapted their businesses so that they could make even more money. In the Great Recession, I learned a lot about failure, and in my newest book Recession Proof Real Estate Investing, I’m going to share the lessons I learned so that you don’t make the same mistakes. If your plan is that you’re going to be able to refinance forever and keep pulling money out of your house to pay your bills, that has the potential to be a terrible idea. In the last Recession: —I was ignoring the fundamentals. —I wasn’t saving money for unexpected expenses. —I was ignoring the importance of cash flow. —I was ignoring the possibility of vacancies. You can’t ignore the fundamentals. When you make a decision based on appreciation or speculation, you’re going to get burned. If you’re going to recession-proof your business, you have to build it on real estate fundamentals. Included in my latest book is the bonus section Wholesaling 101, a class on how to buy properties at deep discounts and sell them to other investors for a quick $5,000-10,0000. And if you purchase this book, you’ll also have the opportunity to purchase some of my other real estate video series. If you don’t love my book, if it doesn’t point you in the right direction to help your real estate business, just let me know, and I’ll refund your money. What’s Inside: —Everything included in my newest book, including the bonus material. —How I missed opportunities in the last housing crisis. —Why your mentors should have some failures in their track record.