Welcome to another episode of Eat, Sleep, Invest. In this episode, Bryan Driscoll talks with Phil Green. Phil is a real estate investor who fixes, flips, and wholesales homes in Southern California. He spent a few years in corporate America before deciding to work for himself. He got his broker’s license in 2013 and eventually started doing deals himself, organically growing his business. He has 55 employees in his core business and has been very successful in the last few years. Now that the market is trending downward in 2023, Phil has pivoted his business and has plans on how to survive this slump. Phil also has many thoughts on the market trends this year. Bryan and Phil discuss: 0:00 Introduction 5:09 The trends Phil has seen in Southern California with a 15% to 20% drop from peak values 6:33 The affordability crisis investors are seeing as people can’t afford the kinds of houses they are interested in 9:45 The problems investors are dealing with nationally with the domino effect of price reductions and predictions of what might happen in this recession 12:35 Ways Phil’s company pivoted when they started seeing these growing issues in the market 13:38 Why Phil’s business’s goal is to not lose money in 2023 and the steps they’ve already made to do that 14:46 How direct mailers have been successful by hitting up people who were leads they had spoken with previously but haven’t sold their properties 17:50 The benefit of texting and calling people who you’ve reached out to before and not getting blocked as spam while being completely transparent about what you can offer 20:32 The ways you should pivot to a different kind of wholesaling in this market and the progress you can find in having to change 23:57 How not all real estate investment businesses will survive this recession, but those that do will be stronger and ready for the opportunities during the next boom 24:24 How Phil’s company has been using different and interesting remodels to stand out from others in the market 26:06 The importance of pricing home right and changing your mindset during difficult times Contact Phil: Phil@gghomesd.com www.instagram.com/lgdphil/?hl=en www.tiktok.com/@greeninvestors www.linkedin.com/in/greengrouprealestate/

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