Mark is joined by:
- Tate Litchfield
- Erik Peterson
- Aaron Williams
- Mimi Schmidt
- Mike Zaino
- Scott Todd
There has been a lot of talk lately about an impending recession. We are in the longest real estate recovery in history, but is another one inevitable? Most likely, the question is, when?
With the last one, 45 to 50% of my note portfolio went away because it was between groceries and their land note and they chose groceries. However, it didn’t take long to get those properties back on the market and extend my ROI. So, I think ultimately we’re really well positioned. We are in the right niche for whatever the economy’s doing. Because when there’s a recession if we are positioned correctly it’s easy to buy, right? We can buy a lot easier if people are going to get washed out and then it might take a little bit longer to sell but we can make it irresistible like a car payment. People are always going to want assets. They’re always going to want that good deal.
Now if we’re in the market where, let’s say, there’s irrational exuberance people who are flushed with cash. They’re spending like crazy. We also benefit from that because there might be a little tougher to buy in those markets but it’s super easy to sell. The nice thing about our niche is that we can see it sooner because housing and commercial get hit first and then we can start preparing and sort of battening down the hatches. -Mark
It is a perpetual cycle that looms over us and sooner or later it will happen, you can’t predict when but you can watch for the signs and prepare.
- How they were affected by the last one in 2008
- Precursors to watch for
- How to prepare so we are sitting pretty when it rears its ugly head
Also, find out everyone’s thoughts on the impact it will have on the land business.
The last topic up for discussion is PROCRASTINATION. We all do it, it’s very natural. The reason we procrastinate is because we are avoiding some type of mental pain. But, how do you get over that mental block?
When you’re procrastinating from something you know you’re probably going down the path that ultimately you should be going down. It’s a clue that, hey, here’s some work that you should be doing. -Scott
Everyone shares how they tackle procrastination, a few ways mentioned are:
- Outsourcing the things you can
- Have a daily game plan