How to survive the next downturn?

[Chris Youssi]

The purpose of this forum will be to give practical solutions vs pulling the "crash n crush" alarm like a previous thread. I have a few suggestions that I have implemented and am interested in hearing from other investors. Here are my top 3:

1.) Lock in as much long term funding as possible. Eg... if you qualify for the secondary market grab 10 props  ( up to 40 units as you are able to buy up to a 4 unit and still qualify for secondary market funding ) where you can lock in up to 30 year money. Commercial world lock in for a minimum of 5 years -some lenders are allowing 7 and I am exploring 1 that is a 10 / 1 arm very appealing to me personally

2.) Always develop an exit strategy when you make a purchase. Key is having the discipline to follow thru with the understanding that sometimes life can get in the way and our circumstances change. 

3.) Lastly is you make money on the buy not the sell. Personally I feel this is far more important than location for the simple reason that if you purchase the property correctly location is simply an added bonus.

Some of my thoughts. Looking forward to hearing from others .