Mike was well off before the real estate crash, but the opportunities that emerged enabled him to really cash-in, when everyone else was heading for the exits. Of course some of Mike’s success was due to his vast experience, but he saw a market where almost-new houses were selling for 10-20% of their pre-crash prices. He never lost money on a single house he purchased during the crash. Because Mike is never a leveraged investor, he had equity in every property he owned before the crash, so when it hit he was well poised to snap-up the values.
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