723: Seeing Greene: Why This Recession is a HUGE Opportunity for Investors

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 5 February 2023

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

The 2023 recession is both an opportunity and a danger for real estate investors nationwide. Falling prices, rising mortgage rates, and an uncertain housing market have made buying rental properties riskier than at any other time in the past ten years. But, the flip side of this coin is that a lack of buyers and harsh buying conditions makes it easier than ever to pick up homes in grade-A areas, many of which could help you realize massive returns in the future. So, is now the time to buy? Welcome back to Seeing Greene, where expert investor, agent, broker, and author, David Greene, answers your recession-based real estate questions on the spot. We take questions from new investors struggling to find cash flow in today’s challenging market and long-term property owners who don’t know what to do with all their equity. We’ll also hit on the touchy subject of when to quit your job, when you have too much debt to invest, and the difference between a property manager and an asset manager (most people get this wrong!). Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: Why cash flow is NOT the most important metric when buying in 2023 Using the recession to snag better deals on homes in appreciating areas Selling vs. renting and what to do with a house that has heaps of equity When to quit your W2 and whether or not doing so in a recession is too risky Overleveraging yourself and why you may want to hold off on investing if you have high debt Lease options and using them to buy properties from on-the-fence sellers Asset management vs. property management and how these two titles differ And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David 10 Challenges to Seriously Consider BEFORE Quitting Your Day Job Join David’s Scottsdale Retreat Books Mentioned in the Show SCALE by David Greene SKILL by David Greene How to Invest in Real Estate By Joshua Dorkin & Brandon Turner Recession-Proof Real Estate Investing by J Scott Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-723 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets podcast show, 723.
0:04.0	What I'm basically getting at here is we got it all stopped trying to hit a home run with one pitch.
0:08.4	Quit falling for that. That's what gurus are selling.
0:12.0	This is what the online media presence influencers are hyping. It is not realistic.
0:17.5	I've been investing for a long time. I'm not finding those deals. I'm not.
0:21.5	I don't think they're out there because if they were out there,
0:23.5	someone would even buy it before you find it.
0:26.0	Okay. Let's all take our goal of financial freedom.
0:29.0	Let's chop it up into little tiny pieces and let's just take one piece at a time.
0:33.5	What's up everyone? This is David Green.
0:35.0	You are host of the Bigger Pockets real estate podcast here today with a seeing green episode for you.
0:41.0	And it does not disappoint today's episode is fantastic as we get into many of the raw and real struggles of what's going on in today's real estate market during this recession.
0:51.0	That's a lot of our words that I just threw at you.
0:53.0	In today's show, we talk about what to do when you're trying to house back in a hot market and you just can't find anything that cash flows.
0:59.5	We talk about the age old decision of should I quit a job that I don't hate to jump into making more money as a business person.
1:06.0	And if so, what is the best way to do it?
1:08.0	We get into when you should hire an asset manager and what the difference between an asset manager and a property manager is.
1:14.0	As well as if you should take on more leverage or pay down some of the debt you already have and build your reserves.
1:20.0	All that and more on today's show. Now, if you haven't heard one of these shows before, I take questions from people like you, our listeners, and I answer them for everybody to be able to hear.
1:29.0	So some of these are written questions. Most of them are video questions, but either way you get to hear questions that other people in the BP community has and have me answer them in person.
1:38.0	Kind of like the forums, but 3D before we get into our first question today's quick tip is remember during times like this where it's more difficult to make money and much easier to do.
1:49.0	But the one thing that nobody can take from you are your skills focusing on building up yourself improving your skills improving your knowledge is the best investment you can take because you can lose money.
	...

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