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So do I care who’s in office? No, I care about Shama says, What if the economy crashes? That’s great. That’s a great question. Let’s go to Google for a second. Okay. And I want you guys to do this in your own local town, because you guys should know this is some basic stuff. Go look up the rent rate in your town, look at the rent rate in 2007 2008 2009. And you tell me, when the economy crashes, what happens to rental rates? Go up.
So what do I care with inflation as high as it is, and the rent rates going up over the last 50 years of data combined, you’ve never seen rent rates go down, they might dip like 1% in one year, but overall, even when the economy crashes, even when COVID hit what happened to rent rates when people stopped working, and nobody had money? What happened? Did rent rates go up? Or do they go down? I’m waiting to go up. I want you guys to remember this regarding creative finance or anything else equity comes equity goes, but the cash always flows, equity comes equity goes with the cash always flows.
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People need food, they need housing, they need transportation. Those are the three things that people need immediately. So do you think housing is gonna go somewhere? Or do you think the government is going to come in and continually bail and print trillions and trillions and trillions and trillions of dollars? This is basic real estate knowledge guys, my friends that had massive portfolios in 2006 2007 2008. And when 2008 hit, what do you think they did? They panicked and they sold their portfolios. They sold their portfolios, because like, oh my gosh, the markets crashing, and I’m like, you guys buy houses based on equity.
Landlords and wealthy people don’t buy houses based on equity. We Buy Houses based on cash flow. Somebody asked me the other day they go, what kind of houses do you buy? And I go, I don’t buy houses. I buy cash flow. So do I care whether the economy goes up, down left or right? Do I care if there’s a Democrat or Republican in the office? Do I care about Donald Trump? Or what’s the guy’s name? Biden, I could not care any less. Ken, I’m going to tell you guys something. If you’re Republican, you’re wrong. If you’re a Democrat, you’re wrong. Because guess what, you guys are all paying the same price at the fuel pump no matter who you voted for. So do I care who’s in office? No, I care about how can I make a house cash flow.