All Forum Posts by: Francisco Milan

New home development stopped on a dime, which I was in, so i had to take a big step back and when I realized it was going to be more then a few day/week thing, I got busy figuring out how I was going to evolve. 

A few months into it, I recognized this opportunity to put my skills to use, so i started flipping homes. As most said i was nuts I knew I was onto something smart because most were in chaos and clueless so going opposite of the pack seemed spot on. 

Then I learned all about redemptions, and then wholesaling, and kept on flipping. I kept learning, reaching, adding new skills and tools to the tool belt, evolving over and over again. 

I had this motto that I shared when people asked why i was doing what I was doing "because I refuse to participate in a down economy". I said that over and over, day after day, I simply refused to participate in the sh#t side of things. And demanded of myself that I simply make my reality happen, period. 

It was amazing times, seriously. I found the best of myself, and I never experienced a recession, I experienced a boom. For me the recession was "elevator music" at best, something in the background my ears heard and brain ignored. 

I actually think that many are being pesimistic about the change in the market. This is a great time to wholesale. The market will continue to see low inventory. The last 2 years was like the wild west in real estate. The days are gone where locking up a deal at 75-85% of ARV is not going to work.

We need to get back to the fundamentals of wholesaling. Yes buyers are tightening up their criteria. All this means is we go back to the fundamentals. In fact I believe that the best option for wholesaling is to learn how to do creative finance especially with more foreclosures hitting the market. 

There are deals out there. Myself and many others are still finding and wholesaling deals. Don't let the noise of speculation affect your mindset and ambition. Get out there and keep the hustle moving. We are still helping wholesalers sell their deals. Buyers are still hungry they just decided to eat a little healthier.

14 years old in 08. Honestly cool to see the range of answers on this thread!

This is a great question Francisco!

I was not in real estate during 08 but it's great to learn from people who experienced it and hear what worked best for them. 

 In 2007,2008 I'm avid reader of zerohedge, so their analysis is pretty much correct that one of the big bank will collapse (2008 Lehman) and exactly at that price, we started buying homes.

2009 is very busy because there're multiple bids everywhere, like 20 30 bids in the bay area. very busy 2009.

Luckily i was in Vegas. So I was buying everything I could get my hands on. It was a great time for real estate investors and especially landlords. Sooo much easier than the last few years. 

its definitely been an odd time for me.......getting a lot of lowball offers.....stuff thats not making sense.....