It ’ s almost impossible not to make money during wild bull runs in real estate . The difference is made when the market changes . So , how do you insulate your finances from cycle turns and crises ? How do you not only survive , but continue to thrive and scale your real estate investment business during times like these ?
We caught up with Don Costa to find out . He has been investing in real estate for almost 20 years , including through the 2008 and COVID crises .
He shared his own personal experiences , and what he is doing differently to invest more wisely , keep growing , and to help others as investors brace for what ’ s coming next .
The 2008 Experience
For experienced real estate investors , the market is looking a whole lot like 2006 again .
The same interest rate policies seem to be in play . Housing prices and
affordability seem to be similar so are the wild bidding wars and excitement ..
Of course , there are those who will try and point out some differences or proclaim that the market will never change . Just like we saw back then .
This isn ' t necessarily a bad thing for investors . It is during these transitionary periods when the most money is made . It ’ s all about what you do through it .
Don Costa now flips over 200 properties each year , and has become an indemand mentor and popular podcast host .
He got his start in real estate investing back in 2003 . Flipping houses and making money came very easy .
As with many others during that time , he admits that made him a little arrogant . It fools you into believing that you have the Midas Touch . You blindly speculate and think you cannot lose .
As he says now , “ A crazy market hides bad business models .”
Even when the market started to collapse , he says that he didn ’ t immediately adjust . He was not focusing on his core competency . He began financially bleeding out . When it hit home , he began operating out of a position of fear , instead of a position of power .
By 2010 , Don ended up with a $ 700k judgment . He was in a position worse than having no credit and no money .
A crazy market hides bad business models
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