The Real Estate Market is Shifting, Here’s What You Need to Know
Yo yo, welcome back to The Science of Flipping, I am your host, Justin Colby and on this episode, we’re going to be talking about the real estate market. In general, there’s been a lot of news about pending crash, if you will, of the real estate market, and I have my own opinion. So make sure you stay tuned all the way to the very end.
Wholesaling is the best way to be in the real estate game as a moment in time and buying and holding. Many of you may not have a ton of money right now, but I’m actively looking to buy and hold. I want to be buying in North Carolina, I want to buying in Florida, I want to be buying in Oklahoma City, these are states that I like to buy rentals in. But until you get to that point in a way to get to that point is stick to the tried and true wholesale methods. The strategies, the processes and the tools that no matter the real estate economy will work. I highlighted my student just to give you a highlight, to show even someone that doesn’t even know how to wholesale doesn’t even necessarily want to wholesale is actively making a boatload of money right now. Because I’m impressed upon her to wholesale, to make more money to buy more rentals. And when she understood that she got very addicted to wholesaling, if you will, and now she’s doing your sixth deal likely is going to break the six figure mark in 90 days, and is nothing she is doing that is creative or outside the box. She’s just listening to me and actually doing it rather than, you know, complaining or or you know, waiting on the sidelines or any of that kind of stuff.
So what I’d say is the real estate market is shifting, and for those that may be over leveraged and have a bunch of flips going or developments going or whatever, the very best thing you can do is start wholesaling, create active income to either cover your debt servicing, cover the losses you’re taking, or potentially just get through this time period. In my opinion, the next year is going to be topsy turvy, the next year is going to be a little bit unknown. But if you’re someone like me, I look forward to that, right. I’ve done this now for 15 years, I’ve seen the good and the bad. For many of you, you’ve only seen the good. So this is where in my opinion, most of you should be hiring and investing in coaching, because you need to be around others that have been there before. Right? Not just someone who’s gotten in 2, 3, 4, 5, 6, 7, 8, 9 10 years ago, who has only seen, you know, fields and puppy dogs and rainbows and roses. That’s just not what reality is. Right? This actually is more close to reality than what we’ve seen in the last 5 to 10 years. So with that said, I encourage you to get out there and start wholesaling you can create a lot of active income which a you can use for rentals because I would encourage you to buy rentals as well. But also if you are a little overextended, it can help cover those debts.
I hope this helped you guys I look forward to seeing you on the next episode. And make sure if you are watching this on YouTube, you subscribe and if you’re listening to this on Apple, or Spotify or anywhere, make sure you give me a five star review. I’ll see you in the next episode. Peace