Real Estate Investing Mastery Podcast

The best investors to learn from right now are those who’ve gone through at least one downturn because they’re the ones who are prepared for the next one. When the country slid into the Great Recession, Michael Jake owned 78 houses, and he was sure he was recession-proof in a military town. Almost overnight in 2008, Michael’s houses dropped 20% in equity. And that’s when he started to get worried. He tried to keep tenant buyers in the house and hold on tight. He bought credit repair kits for his tenants and his wife taught finance classes all in an effort to get the tenant buyers over the finish line. Gradually, Michael and his wife started to change their management style, moving from rent-to-own to a more traditional property management. They started charging less money, but went to a much more rigorous application process. Tenants, Michael says, are like employees. They’re just another point of leverage in your business. If you want to bring in rockstar tenants, then you need to learn how to attr