How To Thrive In An Economic Downturn

Damon Remy, founder and CEO of REI BlackBook, has been busy catching up with members of his network and industry experts to check in with them and see what they're doing right now in their businesses to ensure they will not only survive but thrive in this time of economic uncertainty.

We here at REI BlackBook are releasing a Special Expert Interview Series to take you behind the scenes of some of the highest performing real estate investors across the country to discover how they have survived past economic downturns and recessions, and what you can do to thrive during economic uncertainty.

Our first interview is with Andy Werner, an experienced real estate investor in Phoenix, Arizona who has bought and sold over 3,000 properties. 

Over the course of 45 minutes, they discuss the current state of the housing market during the coronavirus pandemic; how the current economic state differs from past recessions and housing crashes; and what real estate investors, like you, should be doing to stay ahead of the economic effects due to the coronavirus pandemic. 

Don’t have time to watch the entire video? No worries, browse through the topics listed below that interest you and fast-forward to that specific spot.

• 3:35 Andy talks about what the real estate market looks like now in Phoenix, Arizona, versus 20 years ago. 
• 8:50 Andy and Damon discuss what a healthy housing market looks like, what sellers and large real estate companies are doing during the coronavirus pandemic, and what real estate investors like yourself should be focusing on.  
• 14:50 Andy shares the risks he took during the 2008 recession, which ended up paying off in the end.
• 21:39 Damon talks about what it was like being a mortgage broker during the 2008 recession. Andy also talks about Economics 101. 
• 26:37 Andy reads a piece of literature from The Cromford Report, which describes the math behind historical housing market crashes and the current coronavirus pandemic. 
• 29:00 Damon asks Andy to describe what his business looks like now during the coronavirus pandemic. Andy also shares ways to conduct business via social distancing. 
• 32:05 Andy talks about what the overall attitudes of buyers are right now. He also discusses the importance of having conversations with buyers about where they are getting their capital. 
• 37:00 Damon and Andy dive into the importance of building professional relationships and how to maintain them.  
• 39:55 Damon discusses how businesses are continuing during the coronavirus pandemic. Andy talks about the importance of being prepared when this coronavirus pandemic ends.
• 43:00 Andy gives away his contact information!

Who Is Andy Werner?

Andy has 20 years of real estate experience as a wholesaler and as a rehabber. 

He is located in Phoenix, Arizona, where he runs his own real estate investment business, Oak Street Properties, LLC. 

Andy and his team do a combined total of 40-60 wholesale and fix and flip deals a year. He uses REI BlackBook to help manage and run his business.   

Got questions for Andy? You can text him at 602-380-5981, send him a direct Instagram message @wingmanwerner, or email him at andy@wingmaninvesting.com.