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Updated almost 5 years ago,
Finding Opportunity in Times of Uncertainty from *Scratch*?
Hi, everyone. Long time follower of BP, new poster. Anyways, I'm wondering what peoples thoughts are on the best way to take advantage of market conditions during these tumultuous times, from scratch. I understand the plan that those who are doing well have, to buy up market share while the "gettin' is good", but what about those who aren't already in a strong position? I have been a follower of the FIRE movement for years, now a long-time "mustachian", and have done what I've needed to in order to keep expenses low for myself and my family, but have done so in order to just break even. Currently, I've been going through an apprenticeship as an electrician and will be turning out as a Journeyman Wireman in October. As of February, I am also a real estate agent, and plan to transition into that over time.
Basically, I only have a few grand saved as a safety net but plan to increase that as my pay increases and I start doing transactions as an agent. My plan is to continue working hard in my day job, working hard on the side as an agent, and doing as much as I can to not just weather whatever storm is here/coming, but to thrive and come out the other side in a much better position than before. If the housing market takes a tumble, the plan is to try and take advantage of that and be as knowledgeable as possible in order to help investors who are also using the opportunity available. Other than keeping expenses low and trying to earn as much as possible, what other steps might there be for someone who isn't currently in a fantastic position of financial strength but want's to take advantage of the opportunity that is present during all this panic and worry? What strategies did some of you folks use if you got your start in the financial and investing area back when 2008 began?