The Real Estate Game in 2024: How to Pivot, Profit, and Thrive with Henry Washington

If you're thinking about diving into real estate in 2024, you’re probably wondering if this is one of the hardest times to start. High interest rates, fluctuating property values, and tightening cash flow are making headlines—but is it still possible to break into the game and make money?

Navigating today’s real estate market requires understanding the challenges and adapting strategies accordingly. Despite the difficulties, there are still plenty of opportunities available—if you know how to pivot.

The Toughest Time to Invest?

The current real estate market is undeniably challenging, even for seasoned investors. However, it is still possible to succeed. Real estate always presents opportunities, but it requires understanding how the market works and adjusting strategies to capitalize on those opportunities. As Henry says, "It’s your job as an investor to figure out what those ways are, and then to pivot your business to be able to take advantage of the opportunities the market provides."

For instance, while long-term rentals may not be the most profitable choice right now due to high interest rates and taxes, Henry has found a way to flip properties for substantial profits.

Flipping vs. Holding in 2024

So, what’s the secret to making money in a challenging market? According to Henry, it’s about being flexible. Instead of sticking to one strategy, he emphasizes the importance of "taking what the market gives you."

Right now, that means flipping. While some properties might not cash flow well due to high mortgage rates, they can still be profitable flips. In some cases, a property can be sold for $50,000 to $60,000 in profit—significantly more than what could be earned by holding onto it as a rental.

The key is finding deals that you can buy at a significant discount, which is Henry’s core approach. Whether he’s flipping or holding for the long term, he’s always looking for properties he can buy at 30-50% below market value.

The Importance of Buying Right

The deal itself is more important than the exit strategy. Henry emphasizes, "The best way to score is whatever opportunities the market is providing you." Whether you're flipping, wholesaling, or renting, the key is to buy properties at the right price.

So, how do you find those golden deals? Henry’s advice is simple—buy at a deep discount and then let the market tell you the best way to monetize it. Whether it's flipping for a quick profit or holding onto it for a long-term investment, your success depends on the deal you secure initially.

One of his key techniques? The “hotel” strategy—a middle ground between wholesaling and flipping that allows you to sell a property without fully renovating it, making a solid profit with minimal investment. While it might sound too good to be true, Henry explains exactly how it works in the interview.

Deal-Finding: The Most Important Skill

One of the most crucial aspects of real estate investing is the ability to find good deals. This skill is the cornerstone of success in the industry. By consistently securing properties at a discount, you set yourself up for success—whether your goal is to flip, hold, or wholesale.

However, finding these deals isn’t easy. It requires time, strategy, and sometimes, spending money on marketing. From direct mail campaigns to Multiple Listing Service (MLS) offers, There are various strategies you can use to maximize your chances of finding properties at a discount.

On-Market, Off-Market, and Direct to Seller Deals

Deal-finding can be categorized into three main types:

1. On-Market Deals – These are properties listed on the MLS. While it may seem like the toughest place to find a discounted property, There are ways to identify motivated sellers and properties with equity.
2. Other People’s Off-Market Deals – In this strategy, you purchase properties from wholesalers who’ve already done the legwork of finding deals, cutting out some of the heavy lifting.
3. Direct Off-Market Deals – This involves going straight to the seller to negotiate a deal, allowing you to avoid intermediaries and often secure better terms.

Finding the right deal is about recognizing motivation and equity. If a seller has a reason to sell fast, like a financial hardship, and there’s enough equity in the property, that’s where your opportunity lies.

Want to learn more about effective deal-finding methods and a full breakdown of the hotel strategy?

Watch the Full Interview with Henry Washington on YouTube!

In the full interview, Henry goes into even more detail about:

• How to evaluate whether a deal is right for flipping or holding
• His personal experience with hoteling and flipping in today’s market
• Real-life examples of recent deals and how they panned out
• Tips for navigating the 2024 market as a beginner

Click here to watch the full video and get all the tips straight from Henry himself! Check out the different blog posts and free resources available on hostcamp.com to dive deeper into real estate strategies!

‍