Playing the stock market these days is not for the faint of heart. Each night when I get home from working with clients, I gulp, turn on the television, and wait to see what transpired on Wall Street. The past few days have led to some heart palpitations here in the U.S., that’s for sure.
But don’t let economic woes shrink your business success dreams. I have one colleague who’s buying as much real estate as he can get his hands on in a couple of the hardest-hit markets in New England, because he’s not seen prices like these in recent memory. He’s investing for the long run, and you should too. There’s big-money investing like my colleague’s, and there’s big-thinking investing…anyone can do the latter.
I’ve gathered some good recession-proofing articles by other business writers and hope they offer you some good ideas for doing your own version of buying when everyone else is selling:
- Expand when you’re tempted to shrink
- Brace your business for the bumpy road
- Narrowly fending off a recession
- 7 time-tested ways to dig out from a recession
- Thriving in a slowdown – how to
- Recession-proof your career
What opportunities is the recession offering you, particularly if you’re in the U.S.?
In the Midwest it is the same story. This is a very good year to buy (if you have nothing to sell) and you can get many good deals without even looking very hard. However, as an inspector, I have to caution you not to waive the inspection because of the low prices. Properties can still have condition related problems that will cost you big bucks if you don't catch early. Make two friends, a Realtor and a home inspector – then take over the world