12: What Works (and Doesn't) in a Recession & the Untold Story of J Scott's Messy First Flip

BiggerPockets legend J Scott was once a rookie, and he's got the stories (and scars) to prove it!

Today J stops by to give us a primer on economic cycles and how they impact real estate investors. You'll learn what to expect when housing prices soften and which strategies work best in each economic phase. Plus, J shares the tale of his first (years-long) flip, tells us what he's learned along the way, and delivers a surprising top tip for today's rookie real estate investor.

For more on this topic, pick up a copy of J's newly updated book Recession-Proof Real Estate Investing here.

In This Episode We Cover:

• Economic cycles throughout history
• Which strategies tend to work well at each point in the cycle
• J's first flip as a complete newbie
• The systems he developed over the years
• How he's shoring up his cash position
• Opening credit lines
• Adjusting to a new lending environment
• And SO much more!

Links from the Show

• Real Estate Rookie Facebook Group
• Felipe's Instagram
• Ashley's Instagram
• BiggerPockets Business Podcast
• BiggerPockets Real Estate Podcast
• BiggerPockets Bookstore
• BiggerPockets Forums
• BiggerPockets Blogs
• BiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker Merrihew
• Rookie Podcast 07: 6 Things New Investors Should Be Doing Right Now
• Brandon's BiggerPockets Profile
• Felipe's Instagram
• Ashley's Instagram

Check the full show notes here: http://biggerpockets.com/rookie12

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