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What a Real Estate Market Downturn means for Property Management
Description
A lot of people are speculating about the real estate market right now. Some property managers are concerned about how it will affect their business. You might not realize that you actually have an opportunity to take advantage of a potential downturn.
In today's episode of the #DoorGrowShow, property management growth experts Jason and Sarah Hull talk about what a real estate market downturn would mean for property management entrepreneurs and how they could take advantage of it.
You'll Learn[01:15] Uncertainty in the industry
[04:21] A downturn isn't the end of the world
[07:36] Millions are made in downturns
[09:59] Going deeper on the topic
Tweetables"Things do not need to be bad in a downturn. You just need to be prepared."
"Serious, savvy real estate investors get super excited when there's a downturn."
"Millions are made is in downturns."
"If you think it's going to be harder in the downturn, you're right, and it will be harder."
Resources Transcript[00:00:00] Sarah: Pick up the phone and have a conversation with your investors and the ones that are like, "I can't wait," those ones are the ones you call first if and when shit hits the fan.
[00:00:10]
[00:00:12] Jason: Welcome DoorGrow property managers to the DoorGrow show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you're interested in growing business and life, and you are open to doing things a bit differently, then you are a DoorGrow property manager. DoorGrow property managers love the opportunities, daily variety, unique challenges, and freedom that property management brings.
[00:00:37] Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners, and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. We're your hosts, property management growth experts, Jason Hull and Sarah Hull, the owners of DoorGrow. Now let's get into the show.
[00:01:12] So we are going to talk about what?
[00:01:15] Sarah: There's a lot of uncertainty right now in the marketplace, especially with might be happening with the real estate market.
[00:01:22] Jason: Okay.
[00:01:22] Sarah: And what to do. What you could do, right? If we have a downturn, because a lot of times people hear downturn and then they panic and they go, "Oh, shit."
[00:01:32] It is like winter. It's coming. Woe is me. Things are bad. And things do not need to be bad in a downturn. You just need to be prepared.
[00:01:41] Jason: So I'm thinking related to this also, this is it's 2024. This is an election year. The election cycle is such that every election year, it gets crazy.
[00:01:52] Sarah: Like, remember last one? We had COVID.
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