Forums **Ask A Question** Success During an Economic Downturn

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  • #21836
    Post count: 7

    Hey Steven and Jill – you have been successful during the last economic downturn.
    Should there be an economic downturn, how can we be best positioned to be successful?
    I’d appreciate your insight.

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  • Chuck Lidtka
    Post count: 150

    I’ve heard Steven and Jill mention a couple of times this business still works even in a down market based on experience. We work “business as usual” other than simply pricing it lower on the buy and then selling for lower than we would in a good market. Selling time may be be a bit longer otherwise. There’s also good related discussion of not having too many terms deals as the canaries start to die. There are some great older podcasts which discuss this exact topic. Do a search on the podcasts page at the top menu bar and give them a listen for some good peace of mind!

    Post count: 533

    You will need staying power in economic downturn and more cash you have the better. And you need to have guts to buy more assets (not only land) for cash which are going to be priced very attractively. But only few will recognize it.

    It’s those who sell in times of famine and are not able to hold on to assets that lose. Because the clouds will go away rather quickly. Recessions don’t last very long. Make sure you have plenty of cash to take advantage of them.

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