How To Prosper In Recession.


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Incentives provided by the manufacturer are at the highest levels ever in order to continue to sell cars. A super daunting report by The WSJ recently suggested subprime automotive debt delinquencies late payments had spiked to almost double. Assuming the trend holds up, it will mark the first time profits have fallen for three straight quarters since But the stock market is almost double what it had declined to in I have personally underwritten 57 real estate deals and had to walk away from them because they are all priced for perfection.

Meaning they were too expensive for me to purchase. Talk to the everyday American consumer and you will find out they are strapped. And remember two-thirds of the entire economic activity rests on the shoulders of the consumer. Then there are wages according to the Census ACS survey, where median income in America in is 53k, down from 56k in Notice the graph below and you will see it is flat or slightly falling.

No big deal right? You would assume that this will improve over time but the reality is if you look back to you will see real wages adjusted for inflation are flat, suggesting the income in America will not improve. Politicians talk about minimum wage constantly but the real problem they never confront is median wage.

Americans must learn how to make more money and that requires either specific high paying skills or an entrepreneurial approach to wages. So what do you do to prepare for the recessions? How can you survive and even prosper from a monster recession? Contractions are not something to be scared of but rather opportunities for those properly prepared for them.

Here are 5 things to keep in mind:.

Me, Myself, & I

Out work everyone now as though the contraction is fully here. Do NOT spend to consume; spend only to increase income. Accumulate cash—wood for your fire—at all cost and spend nothing, preparing to invest when real assets get cheaper they will. Prepare to steal when the market capitulates throws up.

Build your fire so big others stare in amazement. Take on other income opportunities to increase your monthly income and save it all. That means sales, marketing, negotiating, follow up, and branding. The reason I created CardoneU was to provide individuals with entrepreneurial skills so they could survive and prosper during all times.

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They buy large quantities of items like flour, sugar, laundry detergent and any other staple products they use on a long-term basis. A good idea for a small business is a bulk foods operation that services these bulk shoppers. Affordable luxury items seem like a contradiction, but they don't have to be. During a recession, people tend to feel deprived.

How To Prosper During The Current Recession - MUST SEE!

Starting a small retail operation that sells a mid-level luxury chocolate instead of a top-level luxury chocolate, for instance, might do very well. An ice cream shop that sells a cut above regular ice cream, but in small quantities, might prosper.

Buster Collings

You could start a travel agency that specialized in affordable, yet luxurious or special vacations. An obvious business to start during a recession is a debt collection agency since many people can't afford payments on credit cards or other debt during a recession.


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To reduce your overhead costs, you can run this type of business out of your home. During a recession, unemployment is high. Many people lose their jobs. Along with unemployment, underemployment where people aren't working up to their potential is also rampant.

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Everyone is looking to polish up their resume. There is a demand for experienced resume writers, another business you can run out of your home. Auto repair services grow by leaps and bounds during a recession. The last thing people want to do during a recession is to make a large purchase like a car. Those costs have to be covered. Remember, markets are dictated by simple supply and demand. And banks need to lend you money to make money on their money. So when the economy is down, the opposite tends to happen; interest rates go down.

Investors: Do you think a recession is headed our way?

The Best Small Businesses to Start in a Recession

I have quite a few real estate agents who are my clients and I always ask them what the market looks like based on what they are seeing and hearing. I am waiting and being patient for as I am hearing the same thing regarding a down turn coming. Just keep in mind that acquisition is great, but you must keep cash flow up. Jobs can get scarce and if you are not cash flowing well a minor setback could put into having to sale at a loss. I wish so badly that I would have bought 10 more houses when I bought my primary residence, I would be retired now. I had to struggle to buy just one home.

I do not plan to let opportunity pass me a second time. As an agent and wholesaler I know the market is changing without a doubt. However, the links in this article related to a looming recession are over a year old. The fact is that there are still more buyers than the market can absorb. After that I expect a correction or small recession. Good call, Mitch!! I believe we are seeing the beginning of the decline. Setting the possibility of a correction aside, is there a best month to purchase in?

Are there months that sellers are motivated to sell? Nothing beats having to shovel snow to make a path to a house yourself as a buyer because the sellers have given up on selling. I love cold winters with lots of snow. Hello Philip, Unfortunately, what go up must come down. So, the answer to your question is yes at some point we will face a recession. However, if we use at least two of your suggestions we real estate investor will be fine — exactly better off than the normal citizens.

Some of the reasons properties may be difficult to sell: 1 if they have a mobile home involved — cannot qualify for FNMA mortgages — so only cash buyers are in the game, 2 they have incomplete construction projects involved — lenders do not want to be in the RE business from foreclosures let alone contractors! I have done deals in ALL of these and many other situations.

How To Prosper In Recession. How To Prosper In Recession.
How To Prosper In Recession. How To Prosper In Recession.
How To Prosper In Recession. How To Prosper In Recession.
How To Prosper In Recession. How To Prosper In Recession.
How To Prosper In Recession. How To Prosper In Recession.

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