Tony Lewis, RE/MAX Valencia, Stevenson Ranch, Santa Clarita (RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident)

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Ambassador
3,184,167
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

No debt - save & invest, invest & save, rinse & repeat every single week!

Aug 20, 2018 03:51 PM
Rainmaker
2,763,059
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

My business thrived doing short sales.  Whatever comes my way - I am prepared. If for some strange reason I am no prepared, I will quickly get prepared. Life is full of surprises.  

I am also doing what Debe Maxwell, CRS is doing. No debt is a big one. 

Aug 20, 2018 04:01 PM
Rainmaker
3,239,348
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Each day presents a new opportunity 

Aug 20, 2018 04:08 PM
Rainmaker
4,867,653
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

when the market crashed, I focused on my niche of new home subdivisions.... that carried me right through it....

now, we have a client who will continue to feed us business.... we will survive....

Aug 20, 2018 05:26 PM
Rainmaker
1,024,102
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

The same thing I did when the market crash the last time.

Aug 20, 2018 07:51 PM
Rainmaker
1,276,892
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I own my home.  I am retired with monthly annuity income, SS income and expenses below income.

Aug 20, 2018 07:04 PM
Rainmaker
5,262,810
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No debt. Professionally managed retirement funds.

Aug 20, 2018 05:17 PM
Ambassador
1,611,048
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Going to zero debt.

Aug 20, 2018 04:57 PM
Ambassador
2,344,189
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Prepper.  

Aug 20, 2018 04:56 PM
Rainmaker
3,166,103
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Michael Jacobs has this one covered!

Aug 20, 2018 04:39 PM
Ambassador
4,054,186
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Not investing in the stock market, a bubble waiting to pop.

Aug 20, 2018 04:39 PM
Rainmaker
4,310,846
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Tony,

I am with Michael Jacobs 

Aug 20, 2018 04:23 PM
Rainmaker
2,941,233
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

A simple formula of your home is not an ATM. Stay away from cash out refi loans. DO not over pay. Get a fixed interest rate and dont run up debt on your credit cards

Aug 21, 2018 05:36 AM
Rainmaker
489,199
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Markets go up and down, pay off debt, work  hard while the sun is shining, surf more, keep the garden firing, and enjoy the ride.

Aug 21, 2018 04:36 AM
Rainmaker
1,210,444
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have enough passive income that I am not worried.  I can also pivot into short sales & REOs and even BPOs if needed.  I'm planning on saving up to buy a few properties if/when the market tanks completely.

Aug 20, 2018 09:08 PM
Rainmaker
910,712
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Doom and👺 gloom 👹
I don’t participate in it🙌🏻

Aug 20, 2018 06:55 PM
Ambassador
2,665,048
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Being that I work with many agents in all kinds of markets all across the U.S. and Canada- I will tell you it is already starting to happen. 

BE PREPARED is my motto when it comes to real estate and any other market. 

Know how to shift. Shifts happen. 

On a personal level- get out of debt. Stay out of debt. 
Use the Dave Ramsey baby steps method if you need support. 

Have 6 months of living expenses saved. 

Have an emergency fund. 

When the market crashed in 2006, it crashed in Florida first. Overnight homes were worth 50% less than the day before. 

But we knew this was coming because we assembled large parcels for builders and developers. When Centex walked away from a quarter million dollar non-refundable deposit- we knew that was our clue of a market crash coming. 

So about 6 months before the crash, we started putting things into place to do short sales. I started blogging about short sales in 2007 and members on AR told me they would never ever do a short sale:). There were only 2 people blogging about short sales, Dan Forbes and myself.  Agents in our market referred their own homes to us to short sale, attorneys gave us their personal properties to short sale and investors gave us their inventory to short sale. We were in the top 2% closings in our MLS. This is the same period where over 10,000 agents left our board and MLS because they were not prepared for the market crash and refused to learn how to do short sales. 

Being prepared means having your ducks in a row for when the market shifts. Know how to shift... when to shift... 

Aug 21, 2018 10:14 AM
Rainmaker
4,431,972
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Expenses should be less than income. 

Aug 21, 2018 05:47 AM
Rainmaker
1,817,086
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I've paid off everything and building cash for now

Aug 21, 2018 05:45 AM
Rainmaker
743,237
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Taking Pole Dance lessons. Thank you Active Rain spammers.  

Each of us must make preparations for what would we do if the Internet was down for a month. The Russians, Chinese and North Koreans could to just that and ALL commerce, including all cash registers and ATM and telephones of all kinds would cease operation.

Or....we need to put those criminals from Bank of America in prison. They are walking free among us and have paid no price for the harm they caused. 

 

Aug 21, 2018 05:29 AM
Rainmaker
2,892,877
Richard Weeks
Dallas, TX
REALTOR®, Broker

In a good market or a bad market people still buy and sell everyday.  I just keep prospecting and find those that are going to pull the trigger today.

Aug 21, 2018 04:19 AM
Rainmaker
2,972,572
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I lived through the last crash without being overly affected and will live through the next one the same way.

Aug 21, 2018 04:07 AM
Ambassador
4,298,221
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tony Lewis diversified investment - should I have money for that... lol!

Aug 20, 2018 10:23 PM
Rainmaker
2,423,468
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Pay the shack where I hang my stetson off....and reduce or eliminate all debt

Aug 20, 2018 05:31 PM
Rainmaker
1,037,644
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Learn what others did that were still making great money after the bubble burst so you have some ideas how to keep the cash flow working Tony Lewis 

Aug 26, 2018 07:14 PM
Rainmaker
4,019,845
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have everything ready to retire and live comfortably.

Aug 25, 2018 05:18 AM
Rainmaker
3,977,611
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Well the first thing I will not do is panick.     (Unlike my spouse)

Aug 22, 2018 05:39 PM
Rainmaker
822,482
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I actually had some of my vest years during the crash - for me personally, I've got gold and silver just in case ;)

Aug 21, 2018 03:12 PM
Rainer
20,225
Romylio "Romeo" Cordoba - NSB Realtor
Adams Cameron and Co. Realtors - New Smyrna Beach, FL
Daytona Beach Real Estate Agent

I've considered this and manly is to lower my expenses and focus more on listings. Also going to look into how short sales are done.

Aug 21, 2018 01:16 PM
Rainer
2,950
Jennifer Wilcox
Pacific Union - Napa, CA
REALTOR serving Napa, Sonoma & Marin

Diversification in this profession is very important. It's hard, but try not to put all your eggs in one "real estate" basket. My husband is not in the real estate industry which helps.

Aug 21, 2018 11:51 AM
Rainmaker
4,796,451
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Praying.

Aug 21, 2018 06:33 AM
Rainer
1,440
kat winset
homebng.com - Camden, DE
Real estate agent

praying for god

Aug 21, 2018 06:13 AM