Is the real estate market about to collapse? Do we have 10 more years? What’s the future hold? While no one can definitively answer these questions, today’s guest has some keen insight into timing the market, allowing you to “buy low and sell high.” Today, we’re excited to introduce you to David Gudmundsen, an investor who’s been in the game more than 20 years and who's seen numerous peaks and valleys -- and who has learned how to ride the wave. With more than 250 deals under his belt, David is an incredible resource for anyone looking to grow their portfolio -- or preserve it -- during times of uncertainty. Unless you know exactly where the real estate market is headed next, don’t miss this powerful and entertaining episode!
Click here to listen on iTunes.
Listen to the Podcast Here
Watch the Podcast Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!
This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
Fire Round Sponsor
We just wanted to give a shout out to our podcast sponsor on today’s show: PATLive. PATLive's team of superstar receptionists will always leave your customers delighted. Every agent goes through a rigorous training course before they can answer calls, and we've got quality assurance down to an art.
Learn more by visiting PATLive.com/biggerpockets!
In This Episode We Cover:
Why David chose real estate and his first property
How he got his first property by assuming a loan
How he reached a level of buying a property a month without a college education
How Monopoly inspired him to invest in real estate
How to balance learning and actually making deals
What exactly a wrap is
Thoughts on contracts for deeds
How many deals he has made
What you should know about seller carry back
What walking the mortgage is
Insight into market cycles and crashes
How to read the signs of market cycles
What we can learn from the boiled frog analogy
What "buying right" really means
The importance of not always doing the things others are doing
Why it’s important to join real estate club meet ups
A couple of his worst and greatest deals
And SO much more!
Links from the Show
BiggerPockets Pro
ZBuyer
BiggerPockets Webinar
BiggerPockets Analysis Tools
BiggerPockets Forums
Books Mentioned in this Show
How to Buy and Manage Rental Properties by Irene and Mike Millin
Unlimited Power by Tony Robbins
Close That Sale! by Brian Tracy
Advanced Selling Strategies by Brian Tracy
Tweetable Topics:
"I can never win at Monopoly unless I roll the dice and I buy houses." (Tweet This!)
"A good borrower can make a bad loan good, and a bad borrower can make a good loan bad." (Tweet This!)
"Forget location, location, location. It’s all about buy low and sell high." (Tweet This!)
"You just look at what exactly the herd is not doing.