What Works (and Doesn't) in a Recession & the Untold Story of J Scott's Messy First Flip
BiggerPockets legend J Scott was once a rookie, and he's got the stories (and scars) to prove it! Today J stops by to give us a primer on economic cycles and how they impact real estate investors. You'll learn what to expect when housing prices soften and which strategies work best in each economic phase. Plus, J shares the tale of his first (years-long) flip, tells us what he's learned along the way, and delivers a surprising top tip for today's rookie real estate investor. For more on this topic, pick up a copy of J's newly updated book Recession-Proof Real Estate Investing here. In This Episode We Cover:Economic cycles throughout historyWhich strategies tend to work well at each point in the cycleJ's first flip as a complete newbieThe systems he developed over the yearsHow he's shoring up his cash positionOpening credit linesAdjusting to a new lending environmentAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets Business PodcastBiggerPockets Real Estate PodcastBiggerPockets BookstoreBiggerPockets ForumsBiggerPockets BlogsBiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker MerrihewRookie Podcast 07: 6 Things New Investors Should Be Doing Right NowBrandon's BiggerPockets ProfileFelipe's InstagramAshley's Instagram Check the full show notes here: http://biggerpockets.com/rookie12