# Entrepreneur of the Week #Secondary # Post 7 #DanibitWe wrote what we had this week and what's next First of all thank you…
# Initiated week #second round # Post 7 #DanibotOnline
What we had this week and what next
First of all thank you to Lior for the dedication to the forum. I have to remind myself that he also has a full time job and is a father. I personally try not to bother him too much because I'm sure he gets a lot of chats. Thanks Lior!
It is difficult to write content and interest in such a stormy week. Who has a head for it and who has the energy and ability to give full attention to the fact that there are so many changes and things are happening in the world.
So some thoughts for summary - in the context of real estate
* For those who are not sure what to do now - a philosophical discussion will not benefit you. Do not ask "What now?" Or "Where's the opportunity" you will ask "Is there anything I can do with my flip right now?" Or "If the tenant does not pay what operations I can clean" or "Is there currently an opportunity to buy a Flip / Rental property in Detroit?" - Specific questions will help make decisions.
* Where I feel a change right now - no doubt some of my clients are currently on a halt. Some actually move forward and do not stop.
The whole issue of mortgages is currently in uncertainty. I have a non-bank mortgage refinancing mortgage that has stopped (I immediately started a process with 4 other sources) and bank mortgages (US) as a sign of uncertainty. For a moment with new mortgages - no one wants to give her a mortgage on a house worth X and find out that another month the value has dropped.
* Is there anyone who sees an opportunity - sure! Some investors say: panic + uncertainty + no buyers = opportunity and are already storming.
* Can the 2008 crisis teach something:
1. I guess they will find solutions or assistance programs like back then. Such as short-sales, mortgage changes, and probably other things as well, if I learned anything is that Americans are very good at producing plans for all sorts of situations - but not good for specific cases.
2. The crisis of 2008 caught the banks unprepared and therefore took them a long time to adapt to their new reality. This crisis is taking the world of real estate in a much better place (lots of cash transactions in recent years, higher equity, more conservative mortgages). With the change of generations, the crisis of 2008 did happen in 2008, but the banks continued to deal with issues that arose in 2008 and in 2015 as well.
3. I believe that as in 2008 this crisis will clear the charlatans.
Complacency
Yes, I am a "graduate" of the crisis of 2008. A complex degree in itself. While the crisis has transformed me from an experienced investor to an experienced investor, I do not have the answers to what will happen next. And to be honest whoever is overly confident gives opinions and answers upsets me. How can one know what the behavior of the masses will be - after all, only that will dictate what will happen and it will be too early to know.
What can be done today
In my opinion if you do not know what to do at the moment or are unsure or prefer to wait - the best thing is to invest in learning and yourself. This is a great time to take courses and be ready to pull the trigger at the right moment. In my opinion the majority will just go into shock and do nothing so deepening knowledge and learning is a great thing.
Here are some directions for deepening knowledge
First and foremost: getting to know me and joining the mastermind program I built especially for this group. I wonder how many team members can bring about the attempt of crossing a major crisis? Before the 2008 crisis I had already accompanied over 1000 rentals deals and it gave me a seat not in the front row but on stage - I was in the eye of the storm.
To register for Webinar: https://bit.ly/2UcAtXX
In addition, here are some other sources of deepening knowledge for free and cost:
Podcast in Hebrew: https://anchor.fm/simplydo
Online Real Estate Courses: http://resmarts.co/
Assets we invest in: ReiStart.com
YouTube channel with hundreds of valuable videos and information: www.youtube.com/simplydoit1
And anyone who wants a free consultation call (30 minutes) to see if there is a personal need to match what we do is welcome to just send a message in Messenger.
Come on I'm moving to buy toilet paper and ecogel
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