188: Using 20+ Years of Studying Market Cycles to Buy Low & Sell High David Gudmundsen

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! In This Episode We Cover:Why David chose real estate and his first propertyHow he got his first property by assuming a loanHow he reached a level of buying a property a month without a college educationHow Monopoly inspired him to invest in real estateHow to balance learning and actually making dealsWhat exactly a wrap isThoughts on contracts for deedsHow many deals he has madeWhat you should know about seller carry backWhat walking the mortgage isInsight into market cycles and crashesHow to read the signs of market cyclesWhat we can learn from the boiled frog analogyWhat “buying right” really meansThe importance of not always doing the things others are doingWhy it’s important to join real estate club meet upsA couple of his worst and greatest dealsAnd SO much more!Links from the ShowBiggerPockets ProZBuyerBiggerPockets WebinarBiggerPockets Analysis ToolsBiggerPockets ForumsBooks Mentioned in this ShowHow to Buy and Manage Rental Properties by Irene and Mike MillinUnlimited Power by Tony RobbinsClose That Sale! by Brian TracyAdvanced Selling Strategies by Brian TracyTweetable 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.” (Tweet This!)Connect with DavidDavid’s BiggerPockets ProfileEmail DavidDavid’s Company Website