What will you do to get wealthy during the next financial crisis?
Answer by Tommy Mello:
“I’ve always made more money in bad markets than in good markets”: Donald Trump
I’ll show you how to make more money in a bad economy than ever thought possible
When people are broke and there properties are not worth much – it is time to buy.
There are so many professionals that teach how to buy in a bad economy, but the best thing you can do today is build your credit up, start buying and selling homes, and start a real estate business(buy, fix, flip). The goal is to have a line of credit when the economy goes down – you have to have buying power and know the right areas to buy in.
I know exactly where to buy b/c I’ve studies where the government dumps money into certain economies. Read this book if you want to learn.
This book explains the role the government plays in expanding the money supply – $$$ flows into the economy in patterns. Mr. Maybury shows exactly how the government does not do this evenly – he shows how to identify the spots and calls them cones.
Now, if you learn to get a line of credit and are prepared / liquid when the time comes – you can make a killing… But if you learn how to do it a good economy, you will really do well in a bad economy. More people are willing to take creative deals in a bad economy as well, owner financed, etc… This allows you way more opportunity to get creative with deals – which means you can be a middle man making millions.
I literally have built businesses in bad times and can tell you it is not easy. Bad economies = time to take market share. Save money and be ready to make large moves and know one thing – HISTORY repeats itself. It is cyclical and will always be bullish and bearish. My goal will be to buy houses, businesses, and other assets for pennies on the dollar – make sure you are buying on the way down – you never really know where the bottom is, but don’t get to mad if you didn’t buy at the bottom, just make sure you can cash flow.
Cash flowing is tough, but there are areas in the US you can buy for $20k and get your money back within 2 years. If you are cash flowing appropriately, usually the banks will load. But if you took my previous advice and started a business, you should have people on the side line willing to give you their retirement money because they are loosing their ass and investing in you at least they will have a piece of property to back their money. I’ve worked with investors that raised over 5 million in 2007 on the friends and family network. Literally, there are so many great ways to buy with 1031 exchange and renting out to section 8…
I actually sell leads to investors looking to buy house for 50 cents on the dollar – these are exclusive leads that go straight to buyers – if you are interested message me – also see my Linkedin.
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