376: 12 Real Estate Rockstars Reveal Their #1 Tip for Surviving (and Thriving) through a Downturn

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 2 April 2020

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Strength in numbers! When you finish this episode, you'll have 12+ action items that could help you withstand the coming economic slump... and perhaps even accelerate your path to financial freedom. Each investor featured today gives you their top piece of advice for handling an economic downturn: from mindset, to leadership, to specific strategies you can begin to put in place TODAY. Don't miss this one, and be sure to subscribe to the BiggerPockets Real Estate Podcast for more hard-won wisdom on how to lead your business through the coronavirus crisis and beyond. In This Episode We Cover: Why now is the time to write a 10-year vision for yourself Serving others first, even when our impulse is self-protection Cutting overhead to preserve cash Finding creative ways to rent out property Collecting payments up-front, for a discount Working with lenders if you're having shortfalls with rent Investing as a group to hedge risk Controlling your emotions when the market is volatile Why you should be building a team NOW The importance of picking up the phone to nurture relationships And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Magazine BiggerPockets Conference GoBundance BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne BiggerPockets Webinar BiggerPockets Podcast 362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan BiggerPockets Bookstore BiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan Kirkland Signature Protein Bars BiggerPockets Money Podcast 100: From Financial Disaster to Real Estate Master with Brandon Turner Jason Drees Coaching BiggerPockets Podcast 162: How to Pay Less to the IRS with Amanda Han, CPA BiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian Burke AppSumo BiggerPockets Podcast 213: Investing in Real Estate Without Being a Landlord with Noah Kagan BiggerPockets Podcast 201: Flipping 100+ “Zombie” Houses with Justin Stamper BiggerPockets Business Podcast Landlordology Cozy.co Are Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do! BiggerPockets Youtube Channel 876: What Makes a CEO with BiggerPockets CEO, Scott Trench ScottSilverRealty BiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui Check the full show notes here: http://biggerpockets.com/show376 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, so 376.
0:05.8	If you're in this business for the long run,
0:07.7	this whole time period that's going on right now
0:09.7	is just a bump in the road.
0:11.1	You're gonna look back on this situation and you're either going to look back and say,
0:14.0	hey, I overcame this and I achieved or I crumbled and I failed. Which one is it going to be? That's up to you.
0:26.3	You're listening to Bigger Pocketsifying real estate for investors large and small if you're here looking to learn about real estate investing without all the height
0:30.5	you're in the right place stay tuned and be sure to join the millions of
0:35.2	others who have benefited from bigger pockets.com. Your home for real estate investing
0:40.8	online. Hey everybody what's's going on? It's Brandon Turner, host of the BiggerPockets Podcast, here with David Green.
0:50.0	What's up, man?
0:52.0	You completely blinked on what clever thing to say about me right there didn't you?
0:55.0	No I didn't I didn't blank on the cover I was last time you made fun of me for
0:59.0	for always bestowing upon you the temporary co-host thing that you always do.
1:05.0	So I decided to remove hosts altogether and just give you the honor of being
1:09.3	David Green.
1:10.3	David don't give us to it green that's what you tell me that's pretty much it how you do
1:15.0	man I'm well staying at home getting work done yeah and find our way through this this
1:19.5	issue talking about a lot of real estate I love this kind of stuff because it forces us to dig deeper and look at stuff at a deeper level and I'm all about that. I like to understand the why of how things work, not just the what. So in a sick way, I kind of like the change that we have going on.
1:32.0	All right, well, yeah, I'm a big believer. kind of like the change that we have going on.
1:32.6	All right, well, yeah, I'm a big believer in like that trauma forces change, right?
1:39.8	So in terms of like, yeah, you have a heart attack and you start eating healthier or you you know you get
	...

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