This financial crisis that we are currently going through has created a situation that I am calling the “New Economy”.
If you follow me on my on my blog, or on my podcast or social media channels like YouTube Instagram, Facebook, or Twitter, then you know that I have been talking about this topic quite a bit over the past few weeks since this crisis began.
You will need to learn some new skills in this new economy.
And you will need to learn them fast!
Ask yourself how secure your job really is right now.
And then ask yourself what your backup plan is.
If you don’t have a backup plan you need to start planning now!
Never in the history of this country, has there been a situation that has created (and is creating) such a great divide between the “have” and the “have not”.
And unfortunately this situation will get much worse.
In this economy, the people that live paycheck to paycheck are the ones that suffer the most (and first). They don’t have credit or cash savings to fall back on.
Many of these people will lose their jobs. And many of them that are homeowners will be going into foreclosure.
Sadly, there will soon be millions of people entering foreclosure.
In the past two weeks alone, 10 million people were laid off.
How many of those people will be hired back?
We have yet to see how many more people will be laid off this week. But economists predict that it will be really bad, and the unemployment created from this crisis is looking like it will be the worst in U.S History.
Unfortunately many employers will not survive and a lot of companies will shut down and simply go out of business.
Those companies that stay in business will downsize their payroll and reduce their expenses and will be very careful about hiring new employees for quite some time.
The net result is that there will be way more unemployment than there was in the past few years. And that will mean way more foreclosures, short sales and bank owned properties.
And as sad as that may be, the reality is that the banks are going to behave exactly like they did in the last financial crisis (2008).
The are going to file foreclosure, and then they are going to take these properties back via foreclosure auctions.
At that point the properties will be owned by the bank and will then be called bank owned properties (REO’s.)
In October of 2008 I started my real estate training and education business (the Distressed Real Estate Institute). I recognized then, the opportunity that the crisis had created. Read the intro to my book below to see what made me come to this conclusion.
Just 2 weeks after banks like Bear Stearns and Lehman collapsed, at the height of the 2008 Financial Crisis I set up a new company to teach people how to buy real estate.
The prevailing wisdom at the time (in the media) was stay away from real estate. Everyone told me that “real estate will never recover” (you will hear that this time too).
Prevailing wisdom was wrong (read the intro to my Wholesaling Book that covers this at length and covers past financial crisis going back into the 1980’s).
Conventional wisdom is always wrong. So if you speak to your friends and your neighbors their opinion will be wrong!
And the reason convention wisdom is wrong is because people behave like sheep. Case in point, over the past few weeks after the initial bad dip in stocks I saw hundreds of posts on Facebook asking “what stock should I buy now”. How did that work out for them? I am sure many of them are “cheerfully optimistic”.
People very rarely remember history.
Warren Buffet says it best when he says “What we learn from history is that people don’t learn from history.”
In the last financial crisis I made millions of dollars for myself and my students by teaching people how to PROFIT from the OPPORTUNITY that the CRISIS creates.
You can MAKE MONEY from this crisis.
You can make money in any crisis. In fact some of the wealthiest people in the world made their money during times like this.
Opportunities are created by situations like this.
You see CRISIS = OPPORTUNITY
All of these foreclosures and bank owned properties will create a situation where the banks will start dumping real estate at pennies on the dollar.
And these houses will be able to be purchased and fixed and flipped (or wholesaled) to other investors for a significant profit.
A few months later, the foreign investors will come looking for bargains in U.S Real Estate (just like they did in 2009). The possibility of buying U.S real estate at a discount will be very appealing to them.
Remember that buying U.S real estate for foreigners means buying an asset denominated in US Dollars (which is appealing if your foreign currency is being devalued). Expect many Chinese, Russians, Europeans and South Americans to come looking for opportunity to buy real estate at a discount.
The question I have for you is this:
Will you be making money wholesaling and flipping houses to these investors when this happens?
or will you be sitting on the sidelines wondering what happened?
You need to be prepared to profit from this situation by learning how to wholesale and flip bank owned properties NOW!
You need to understand foreclosures and short sales.
And you need to learn this information now!
I literally wrote the book on flipping bank owned properties.
It is called “Wholesaling Bank Owned Properties”
I want to give you a FREE COPY of my best selling book
You need to learn this information now!
Are you currently sitting at home and watching too much Netflix?
Well this is a perfect opportunity for you to read my book that will give you some skill sets to help you survive this new economy.
Do you have an Amazon Account?
I want to share this opportunity with YOU
For the next 3 days, I will be giving away copies of my book “Wholesaling Bank Owned Properties” on Amazon for FREE.
If you have an Amazon Kindle Account (it’s free to create an account) then for the next 72 hours only you can download the book from Amazon for FREE at the link below: Click Here To Get Your Free Copy on Amazon
If you prefer to download a PDF Copy then use this link: Click Here To Download The Book in PDF Format
I want as many people as possible to read this book right now! I give you permission to share this link with anyone who you think would benefit from reading this book.
Many people will need to learn how to make money working from home in this new economy!
To your success,