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!
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.