188: Using 20+ Years of Studying Market Cycles to Buy Low & Sell High David Gudmundsen | Bigger Pockets Podcast

Is the real estate market about to collapse? Do we have 10 more years? What’s the future hold? While no one can definitively answer these questions, today’s guest has some keen insight into timing the market, allowing you to “buy low and sell high.” Today, we’re excited to introduce you to David Gudmundsen, an investor who’s been in the game more than 20 years and who’s seen numerous peaks and valleys — and who has learned how to ride the wave. With more than 250 deals under his belt, David is an incredible resource for anyone looking to grow their portfolio — or preserve it — during times of uncertainty. Unless you know exactly where the real estate market is headed next, don’t miss this powerful and entertaining episode!
In This Episode We Cover:

Why David chose real estate and his first property

How he got his first property by assuming a loan

How he reached a level of buying a property a month without a college education

How Monopoly inspired him to invest in real estate

How to balance learning and actually making deals

What exactly a wrap is

Thoughts on contracts for deeds

How many deals he has made

What you should know about seller carry back

What walking the mortgage is

Insight into market cycles and crashes

How to read the signs of market cycles

What we can learn from the boiled frog analogy

What “buying right” really means

The importance of not always doing the things others are doing

Why it’s important to join real estate club meet ups

A couple of his worst and greatest deals

And SO much more!

Links from the Show

BiggerPockets Pro

ZBuyer

BiggerPockets Webinar

BiggerPockets Analysis Tools

BiggerPockets Forums

Books Mentioned in this Show

How to Buy and Manage Rental Properties by Irene and Mike Millin

Unlimited Power by Tony Robbins

Close That Sale! by Brian Tracy

Advanced Selling Strategies by Brian Tracy

Tweetable Topics:

“I can never win at Monopoly unless I roll the dice and I buy houses.” (Tweet This!)

“A good borrower can make a bad loan good, and a bad borrower can make a good loan bad.” (Tweet This!)

“Forget location, location, location. It’s all about buy low and sell high.” (Tweet This!)

“You just look at what exactly the herd is not doing.” (Tweet This!)

Connect with David

David’s BiggerPockets Profile

Email David

David’s Company Website

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