About this episode
Everyone wants to know how to get rich in a recession . The problem? With many asset prices plummeting and a bipolar real estate market , parking cash in any asset could be considered a risk. But, a particular sect of real estate still makes money even if the housing market starts to crash and home prices freefall. This is one of the lowest-risk ways to start investing , especially during a recession, and it made our expert guests, James Dainard and Jamil Damji , very wealthy. James and Jamil have been using this strategy since the early 2000s. When home prices started plummeting in 2008, buying rentals became risky, and fix and flips got decimated. Thankfully, this often misunderstood type of “investing” allowed them to capitalize on the price action , picking up deals that would make great buys and passing them along to buyers who could hold their own during the crash. This same strategy still makes them millions of dollars today, and you can start using it! In Jamil’s newest book , How to Wholesale Real Estate , you’ll learn how to build a scalable wholesale business without much cash, experience, or contacts . This is one of the BEST ways for new investors to get started and is a phenomenal source of supplemental income for investors and flippers who have too many deals on their desks. Think it’s too late to make money in an economy like this? Think again! In This Episode We Cover Jamil’s newest book, How to Wholesale Real Estate , and using it to get your first deal done Wholesaling explained and why “trading” real estate may be better than investing in it Recession-proof real estate investing and why wholesaling is one of the lowest-risk ways to start making money in real estate Million-dollar relationships and the people you MUST have in your circle to be successful Finding buyers and why investors don’t disappear even when home prices start to fall The housing markets that are on FIRE for wholesalers (and which are showing HUGE opportunity) And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave's BiggerPockets Profile Dave's Instagram James' BiggerPockets Profile James' Instagram Jamil's BiggerPockets Profile Jamil's Instagram Book Mentioned in the Show: How to Wholesale Real Estate by Jamil Damji (use code “WHOLESALE110” to get 10% off) Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-111 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices