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BiggerPockets legend J Scott was once a rookie, and he's got the stories (and scars) to prove it! Today J stops by to give us a primer on economic cycles and how they impact real estate investors. You'll learn what to expect when housing prices soften and which strategies work best in each economic phase. Plus, J shares the tale of his first (years-long) flip, tells us what he's learned along the way, and delivers a surprising top tip for today's rookie real estate investor. For more on this topic, pick up a copy of J's newly updated book Recession-Proof Real Estate Investing here. In This Episode We Cover: Economic cycles throughout history Which strategies tend to work well at each point in the cycle J's first flip as a complete newbie The systems he developed over the years How he's shoring up his cash position Opening credit lines Adjusting to a new lending environment And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Business Podcast BiggerPockets Real Estate Podcast BiggerPockets Bookstore BiggerPockets Forums BiggerPockets Blogs BiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker Merrihew Rookie Podcast 07: 6 Things New Investors Should Be Doing Right Now Brandon's BiggerPockets Profile Felipe's Instagram Ashley's Instagram Check the full show notes here: http://biggerpockets.com/rookie12 Learn more about your ad choices. Visit megaphone.fm/adchoices