Real estate investment is currently considered to be a smart addition to any portfolio, with industrial real estate investments currently being touted as the hot ticket for any investor to put their money behind. But a little under 13 years ago, the real estate market was being described as a hellscape that was sucking the money of investors and homeowners alike into a black hole. The 2008 financial crisis decimated the housing market and most investors ran from it, dumping entire portfolios as they went. Real estate investor Matt Andrews was not one of them. He held firm during the financial crisis and even managed to prosper where others were struggling. Here, he opens up about how he made it big during the 2008 financial crisis as well as sharing other highlights of his career.
Andrews says that he was first introduced to the world of real estate investment and house flipping almost by chance. He had just left college when he found out that a neighbor of his left behind a well-paid position to flip houses and was reaping the rewards. Andrews says that he was immediately intrigued, and before he knew it, he was renovating dilapidated houses and starting a real estate portfolio of his own. On the subject of his making it big during the 2008 financial crisis, Andrew says that he believes his early establishment as a buy-and-hold real estate investor put him in a fortunate position where he was prepared to wait for profits and then used his business acumen to double those profits. Andrews continues by saying that this strategy also aided him during the COVID-19 pandemic, where his hold-firm real estate investment approach helped him recover from its globally-devastating financial fallout. Speaking of what inspires him to persevere through adversity, Andrews says, “I firmly believe that adversity, especially within the investment world can be a great motivator. Losing money through investment can sometimes inspire you to rise up and succeed next time.”
Matt Andrews’s interest in real estate investment spans further than just house flipping and building profitable portfolios. Andrews created a popular real estate investment podcast and founded the Family Mastermind group. The group is a supportive collective that brings together entrepreneurs so they can share their experiences and learn from each other’s mistakes and successes. On what he thinks it takes to succeed as an entrepreneur, Andrews says, “The importance of self-belief can never be overestimated within the world of business. If you truly believe in an idea then you are already halfway toward achieving it.”
As we continue to slump towards another recession that is fanning the flames of a fresh financial crisis, it’s inspiring to know that not only is it possible to survive a financial crisis, it can also inspire you to strive for future success.