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Description:
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Are you a real estate investor concerned with the potential of a shifting economy? These concerns are understandable, and today’s guest has some great techniques for both protecting your money and taking advantage of deals in any market! J Scott, author of The Book on Flipping Houses and How to Estimate Rehab Costs shares his valuable insight when it comes to predicting market changes, adapting to shifting markets, and changing your strategy to adapt to a changing economy! Don’t miss Jay’s 6 rules for flipping houses, what exact economic indicators he looks for to predict an upcoming recession, and his 6 rules for preparing for an economic recession. J is one of the most respected minds in the real estate game, and today’s show is jam packed with the wisdom, advice, and knowledge you need to position yourself where you want to be in a shifted market to make big gains in your portfolio! In This Episode We Cover: - J. Scott's story on how he got into flipping houses
- How his business evolved over the past 10 years
- Market cycles and market indicators to look for
- Why unemployment is an indicator
- The "yield curve"
- The Buffet indicator
- His 6 rules for investing in this market:
- Be certain of your numbers
- Stay away from long rehabs
- Have a backup strategy
- Avoid thin deals
- Keep clear of leverage at all cost
- Stay away from the high end vacation rentals
- 6 ways to prepare for any market:
- Hoard cash
- Open as many credit lines as possible
- Build credit
- Figure the "worst case drop"
- Restructure short-term debt
- Don't chase your losses
- And SO much more!
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