If the name Eric Spofford sounds familiar, it's probably because you've seen one of his viral videos on social media before. He's amassed a substantial following over the past couple of years by providing business advice to his followers / subscribers.
Spofford is a serial entrepreneur and an incredibly savvy real estate developer and investor. He currently manages a mid 9 figure mixed portfolio of multi-family and commercial properties through his company, Spofford Enterprises.
Spofford Enterprises is in the process of increasing the scale of their portfolio, acquiring new properties across the nation. Eric has been documenting this process on his personal YouTube channel, with the goal of inspiring and educating the next generation of real estate moguls.
We recently had the chance to speak with Eric Spofford, to discuss the potential recession the US is facing and how it will shape the real estate market for years to come.
"People that create value, create wealth. If we head into a recession, the real operators will be accelerated, while the rest will be left behind," Spofford told us.
During our conversation, he provided two great pieces of advice on how to navigate the potential recession, which are outlined below.
Don't Get Emotional
There are only two days that matter in real estate, the day you buy and the day you sell.
Don't let emotions dictate your decisions, emotions are temporary. Operate out of studied history, facts, and data.
Focus on the Essentials
Focus areas of real estate that won't be heavily affected by a recession. These areas include healthcare, academia, multi-family residential, etc.
These areas will always be essential - people will always need healthcare services, education, and a place to live.
If you're interested in learning more about Spofford Enterprises, please visit spoffordenterprises.com.
