Jan 23, 2020
The true test for any entrepreneur is how we handle challenges, setbacks and the inevitable downturns. It’s not just about survival, it’s about being able to look for opportunities for personal growth. How do we foster a mindset of pushing forward, instead of accepting defeat? Why should we stop seeing market downturns as times of decline and failure? In this episode, I’m joined by the highly successful “Godfather of Wholesaling” Jamil Damji, who shares on rebuilding after a recession, and not letting the bad circumstances of the market derail us.
Three Things We Learned
Bad markets don’t always mean that our businesses are doomed
We need to shift our mindset and
start understanding that money can be made even in the worse market
conditions. We need to look around us, and see where the energy is
going, what people are moving towards and go in that same
There will still be opportunities in this next recession
In the last 5 recessions, only 2 of them negatively impacted real estate. The next market correction will bring us a lot of opportunities. A lot of money is going to be parked in real estate for capital preservation and protection during the next recession. Investors are overpaying for homes now, and that’s because they know there’ll be cashflow down the line.
Make inner work a top priority
Our outer world is a reflection of what's inside us, so if we want to succeed, we need to work on nurturing and fostering the right state of mind and emotion. If we pay attention to our mental and emotional state, we’ll always have a high-performance mindset, under any circumstance or market condition.
Jamil Damji is a former comedian turned successful real estate investor, known as “The Godfather of Wholesaling”. He is the president and co-founder of Keeglee, an investing operation with 40+ employees.