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!
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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!
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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
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
- “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.” (Tweet This!)
Connect with David