In today's episode, Brian and John give us an idea of what strategies they use to stay on top in the event of a real estate market downturn. It’s true that there’s no certainty when the market will correct, so keeping strategies in place is a definite must. Listen to know more about these strategies and get insights on which ones are actually implementable in your business.
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This Episode is Sponsored by
Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.
Covered Topics:
- Real Estate Strategies
- Flipping
- Renting
- Wholesaling/Wholetailing
Show Notes:
01:09 – 15,000 direct mailers sent out this week
02:07 – Checking other real estate areas
- Dayton, Ohio
- Homeparks
02:54 – Today’s topic: Strategies
03:56 – When the market takes a turn
- Rental income to cover the company
04:47 – Flipping Strategies
- Be careful at buying at enough discount
- Have enough cushion in your margin to carry a little longer
- Not buying flips UNLESS the property has a number of exit strategies
- Check your budget
- Leave a contingency fund
10:04 – Renting Strategies
- Possible recession problems
- Lowering the rent
- Marketing rental properties all over
- Keeping tenants engaged
14:39 – Wholesaling and Wholetailing Strategies
- Are you getting enough margin?
Topic Takeaways
- Having more than one exit strategy per property is a must.
- Always check your budget before purchasing and keep a contingency fund available.
- Keeping tenants by lowering rent is better than having a vacant property.
Tweetable Quotes
“The real test is going to be when the market starts to correct or if we go through another recession.” (Tweet This!)
“Leave the contingency in there, and if you don’t end up spending it, then it’s just a bonus.” (Tweet This!)
“One of the biggest keys...is just being quick to communicate.” (Tweet This!)
