John Schaub and Michael Morrongiello are considered some of the best in this business. Their long tenure in the real estate investing industry and the properties under their belt speak for just how resilient they are even in a down market. John himself has survived five recessions, four tax law changes, and high interest rates in his almost forty years as an investor.
Michael on the other hand, specializes in rentals and what we call paper investments, and conducts his business in the tough and expensive Bay Area. He also considers himself a student of John’s as he has learned plenty from John’s books and seminars.
Today, John and Michael discuss how their businesses thrive in a tough market, their strategies in property acquisition, and the changes and challenges Millennials bring in the market. They also share their favorite forms of long term investments and how to not just survive, but also thrive during a recession.
“Making money in business is a wonderful thing to do if you’re good at it, but at the same time, you should be acquiring something that will work without you.'” ? John Schaub
On Today’s Episode of Flip Talk:
- Why are Millennials putting pressure on the market?
- The advantage of doing business in a city with a thriving population.
- John’s thoughts on the next recession.
- What are some of the things John’s done to make his business recession-proof.
- What to expect in their upcoming event.
- Indicators of a coming recession.
- Why John prefers houses over multi-units or apartments for long term investments.
- Their individual strategies in acquiring properties.
- John’s thoughts on utilizing lease options.
John and Michael’s Tips for Getting into Real Estate Investing:
- There are plenty of discounted opportunities in a down market.
- It takes a lot of effort to be in business so it’s important to have investments. Somebody’s gotta run a business, but the investments will last forever.
- Busts, Booms, and Beyond? Event
- Building Wealth One House at a Time: Making it Big on Little Deals book by John Schaub
Reach Out to John Schaub:
- John Schaub official website
Reach Out to Michael Morrongiello:
- Email: firstname.lastname@example.org
- Phone: 707 996 6411
Rate, Review, Learn, and Share
Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [at]FlipTalk:[dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, or visit our website.