Join us as we discuss strategies to recession-proof your real estate investments. With the possibility of a recession in 2024, it’s important to prepare for potential economic downturns. Our panel of experts provides practical advice to help you navigate through uncertain times and even come out ahead.
First, make sure you have plenty of cash reserves in place to cover potential losses. Having at least six months’ worth of rent and general overhead expenses in a separate account will give you a safety net in case your tenants face financial challenges.
If you’re just starting out and don’t have significant reserves yet, consider setting aside all cashflow into a dedicated account until you reach the desired amount. Additionally, it’s essential to anticipate future maintenance and repairs costs and allocate funds accordingly.
By being financially prepared and having a solid cash reserve, you can navigate challenging economic conditions, protect your investments, and take advantage of potential opportunities in a recession. Join our experts as they share more valuable tips and insights to help you thrive even during uncertain times.
