142: Today’s Lessons From The Housing Crisis and Mortgage Meltdown of 2007-2009
Today’s Lessons From The Housing Crisis and Mortgage Meltdown of 2007-2009
Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 Mortgage Meltdown. Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, Damion Lupo, lost worse than Keith at this time. His $20M portfolio imploded. Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago – without regard for cash flow. It crashed. Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning. #1 Lesson: Buy for cash flow in astable economic metro markets. Grab Get Rich Education’s new book at GetRichEducation.com/Book
Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter. 2) www.GREturnkey.com for actionable turnkey real estate investing opportunities. Listen to this week’s show and learn:
00:57 Keith’s $530,000 four-plex dropped in value to $480,000 in the 2007-09 Mortgage Meltdown.
15:37 If Damion could do it all over again, what would he do differently?
20:04 Harvesting equity.
24:29 Damion won’t do deals with people in their 20s.
26:30 The next crash.
34:14 Hard money loans.
49:26 Choose stable markets in the Midwest and South.