Pre-2008 Similarities:3:21: Everyone wanted to be in real estate in 2005-2006.5:15: instead of being a “buy and hold” investment company, we had to flip our mindset and say, we're going to start flipping properties and that evolved into a short-sale segment as well.9:25: By April of 2010, the $8,000 home-buyer credit program ran out and that’s when homesales really stopped. By that point short sale deals were taking 3, 6, 8, even 10 months to close and that’s no longer a lucrative deal.11:00: Normally you don’t want to make a major shift in your business, but in a recession you may have to.13:50: Prices had gone down significantly in the country, which meant that there were lots of cashflow opportunities.Going Forward in 2020:16:10: We don't know where these types of opportunities are going to pop up from this and from this particular crisis. It could be in commercial real estate.19:13: We are still figuring things out because I do feel like we're not even quite two weeks into this, but one of the things is we have some deals under contract.21:15: as business owners, we really have to make the best decisions we can make today based off the data that we have today. Typical closing periods last 30-60 days, so we don’t really know what the ARV of those properties will be.26:20: Brandon Turner, of BiggerPockets, about what he's doing to kind of lay the groundwork of what is likely coming our way.28:30: One of the other big things I see happening in the real estate market is you can’t get away with subpar product anymore.29:42: Amanda made a huge pivot after going through a foreclosure first hand in 2008. In this time, people will make decisions based on past experiences, so I built a house with an accessory dwelling unit that cuts my mortgage by a 1/3rd.Connect with the Good Stewards:Visit Our Website and SubscribeEmail | [email protected] | @TheGoodStewardsInstagram | @GoodStewardsPodcastFacebook | @GoodStewardsPodcast