Since unemployment shot up and stocks plummeted… I’ve been noticing a few anecdotal things about investors:
1. either you’ve lost a 1/3rd to more than half of your monthly rental income.
2. or you’re trucking along just fine with maybe a couple tenants here or there struggling.
And subscriber Ro R. verifies this by replying to last weeks email about what you’re doing today to get yourself ahead….
“Excellent point my friend! You know? My position today is:
– we currently have rented, paying, quality properties (I have tried to buy over the years with as much sense as possible)
– the waters are too murky to allow for anyone to make sound decisions
– cash is king
– hang on tight, stay put and pray for the best (learnings from our many hurricanes in Houston)
Based on what I hear in all these calls and articles I have to wonder if I am missing something.
What do you think?”
Well, I’m in no way an expert on what to do in times like these. I didn’t really live through the last recession.
But the majority of people I interview in the “Deals Today” podcast have.
And there’s a common practice that Ro R. detailed:
*1. Having CASH Reserves is your safe guard AND your leg up once prices rock-bottom.
*2. Taking the time to buy QUALITY assets will save you A LOT of headache down the road.
This applies to wholesaling, buy-and-hold, flipping, notes, stocks, etc.
It’s the whole concept of: 4 quarters vs 10 dimes.
Now, can you still have a volume business (hence 10 dimes business), following the concept of QUALITY over QUANTITY?
I believe so. And I interviewed a owner of a $2 mill a year wholesaling business who does so by operating in a quality area where there’s growth and quality investors to sell their product to.
Quality is key and it’s something I write in issue #1 of my Deal Magnet Newsletter about going after QUALITY leads and not wasting any time on tire kickers… and an over-the-phone one-liner to keep your trust (and open up a possible deal down road) with retail buyers… and that newsletter will be coming out soon.
In the meantime, listen to my hours of audios with pros in the field while I be your investigator to get to the guts of what’s working in the REI today.
check them out at: www.realestateaudios.com/audios
Or search “Deals Today” podcast in your app and download them and subscribe (don’t forget to leave a review if you can).
“Keep moving forward in your REI venture”
Paul do Campo
I’ve spent many hours learning and implementing marketing methods in REI, chasing sellers, and building cash flow streams… and I show you what works and what doesn’t from real-world investors in the trenches today through my daily tips, articles, and audio interviews at www.realestateaudios.com
Call or text if you need anything: 909-614-9473
6939 Schaefer ave Ste D #254
Chino California 91710
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