In episode seven of Real Estate Rescue, Cody Oakes discusses the opportunities for wealth creation during an economic collapse. He highlights the importance of studying the strategies of the ultra-wealthy and understanding the cyclical nature of recessions. Cody emphasizes the cycle of pain that typically lasts for two to three years and warns against overleveraging during times of economic growth. He also explores the impact of credit lending and the availability of low-interest financing on consumer behavior.
Tune in to learn how to make the most of economic downturns and protect your real estate investments.
TIMESTAMPS
[00:01:37] Overextended Individuals and Economic Collapse.
[00:05:47] Challenging times.
In this episode, Cody Oakes discusses the importance of being prepared and making quick decisions during challenging times in the housing market, business, and loans. He emphasizes that economic collapses run in cycles, and those who understand history and are willing to take calculated risks can benefit from the situation.
In addition to that, Real Estate Rescue aims to be a reliable partner and resource for individuals seeking assistance with their real estate and financial situations. They aim to be a reliable partner and resource that listeners can count on, providing assistance not only with residential houses but also with various financial issues such as credit card and loan debt. Cody also expresses their desire to help people stay in their homes and keep their businesses, as they anticipate a recession and other challenging economic situations.
QUOTES
SOCIAL MEDIA LINKS
Cody Oakes
LinkedIn: https://www.linkedin.com/in/cody-oakes-69089bb7/
WEBSITE:
Real Estate Rescue: https://www.realestaterescuepodcast.com/
Intro/Outro00:02 - 00:20
Welcome to Real Estate Rescue, a show dedicated to helping you stop foreclosures, navigate through the world of probate, and better understand the how-to of real estate investing. And now, here's your host, Cody Oakes.
Cody Oakes00:20 - 06:26
Welcome back to Real Estate Rescue. I'm your host, Cody Oakes. Look, if you guys study the ultra wealthy, or if you speak to the ultra wealthy, And I'm not talking about your neighbor who's got a Lamborghini or someone who made a couple million dollars. I'm talking about the ultra, ultra wealthy. They know that the greatest time to be able to become wealthy or increase your wealth is during an economic collapse. And they also know that these collapses run in cycles. And look, I'm not ultra wealthy, but I do know history. And I do know that we are definitely going or going to be going through a recession. And these recessions can take anywhere between seven and 10 years. But there is a cycle of pain, which usually lasts for about two to three years. So the people who over leverage themselves in 2020, 2021, 2022, And this sounds crazy, but if you ever look at the credit lending, during those times, people's credit scores were higher. And I feel like that is a way to be able to capture money. When someone sees that their credit score is going high and You're able to purchase homes at 2-3% interest rate, you're able to get financing on cars for 2-3%, you're buying boats, you're going on trips, then you're overextending yourself. The economy or the government was pumping stimulus. So every person out there was just buying, they're buying new houses, paying over asking price even, there was plenty of bid wars that were going on. And now we are going through a economic recession. We're going through a real estate collapse. We are looking at wars, not just war, but multiple wars. We're looking at inflation. We're looking at high interest rates, high interest rates to offset the inflation that we created And our government's created and the Federal Reserve is responsible for this as well. And now the people who are overextended. are going to go through a lot of pain, because they are overextended. And because they bought that truck that was worth 90,000 95 grand, that may only be worth 80,000 today, or they bought that house that was worth six or 700,000 that is continuing to decline in value, because interest rates are high. And when interest rates are high, people aren't purchasing real estate. And then when they do start purchasing real estate, people have to lower the real estate in your neighborhood and your area. And what does that do to your house value? It declines, right? So the people who are going to be prosperous through this situation are the people who have liquidity, the individuals who have good credit, the individuals who aren't over leveraged, and Also, the individuals who aren't afraid to take risk and know that these are cycles. And this is all this is. When you see housing that continues to go up, and you see everybody that is just making money, they're collecting checks or collecting stimulus, and you think, oh, this is just it forever. It is not. This is a cycle. This is a way to get you to purchase, to get you enslaved into debt. And then when those values start coming down, guess what? You're stuck. You're stuck and there's nowhere you can go. And I say that not to scare you guys, but to also let you guys know that we have started this company based off of the ideas to help individuals, right? The good thing is, is as of now, Who knows what this is going to be like in a year or two years, three years, four years, five years. But I do think that this is going to be something that lasts for a long time. House values are higher and with house values being high, there's equity inside your business, there's equity inside your home, there's equity inside your shopping center, multifamily, whatever it is. And we want to be able to help to make sure that you're not going to lose out. You're not going to lose out on your house. You're not going to lose out on your business. And the people who are going to be able to create wealth are the people who are ready, because there's not much that we can do on this. the housing market, the 401ks, the stock market, with the war, with recession, is this is going to be something that lasts for a long time. So you have to be prepared and you have to be ready to be able to make a decision and make decisions pretty quick, right? So if you have a home, if you have a business, If you're about to be late on a loan, whatever loan it is, look, this is free consultation. It's free information. And we just want to be here to be able to help. We want to be able to help you stay in your house, keep your business, because we are about to face some challenging, challenging times. And With Real Estate Rescue, we want to be a partner and we want to be a resource that you guys can count on. So the information is listed below. Reach out to us. This is not just on homes. This is not just on your residential house. It's with everything, anything, anything that you're going through, whether that's credit card debt, that's, you know, loan debt, whatever it is, we want to be able to help. All right. So click the link below. And until next time.
Intro/Outro06:29 - 06:43
Thanks so much for tuning into this episode of Real Estate Rescue. We sure do appreciate it. If you haven't done so already, make sure you're subscribed to the show, wherever you consume podcasts. This is where you'll get updates as new episodes become available. And if you feel so inclined, please leave us a review. Until next time, friends.