- Aaron Amuchastegui, a real-estate investor who navigated the 2008 crisis but took a serious financial hit in 2013, revived his portfolio in just five years’ time.
- He utilizes an investment strategy that targets “courthouse step” deals, or buying foreclosed homes at auction.
- Amuchastegui’s strategy has shifted over the years, and he now prioritizes a long-term investment plan focused on single-family Texas home rentals rather than quick flips.
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In 2008, Aaron Amuchastegui was lucky to hang onto his job amid the financial crisis, and then by 2013 he was broke.
It was quite a change for the son of a homebuilder in a small town in Oregon. The 40-year-old investor told Insider that since 2005, he had enjoyed a lucrative career flipping new, custom home developments, but the 2008 financial crisis levied a direct hit against that model.
The builder Amuchastegui worked for laid off about 70 people after 2008, he said in an interview on the BiggerPockets podcast, and he was relocated to Sacramento, California, one of just five remaining members of his team.
Amuchastegui, now 40, had been with the builder, based in Santa Barbara, since he graduated from nearby California Polytechnic