A businessman that was affected by the 2007 real estate market crash shares his tips and how to weather the storm for when the next crash occurs. You need it to be both mentally and financially prepared with a good network of professionals at your side. It’s best not to assume that a market correction will not occur and be prepared for when it does.
- In uncertain times, only those who don’t panic can see things clearly and will spot the opportunities.
- Having a strategic reserve of cash is crucial. Leverage is a great tool but liquidity is the name of the game in a downturn.
- Finding people who can help you navigate a down market can help you avoid the pitfalls.
“It’s not a matter of when a market correction will occur. It is coming, so get ready. Those with a mindset of certainty are the ones who will win, and those who have diversified and have cash will take advantage of the crash.”