multiple mortgages during recessions

[Ben Hooper]

I just recently bought a second property and have never managed rental properties during recessions. For people with multiple properties, what's the experience like during a recession. I imagine there are less visitors, and some months where expenses aren't fully covered.

[Paul Sandhu]

@Luke Carl

Big people talk about ideas.

Little people talk about things.

I ran a family owned bowling center with a bar in Illinois in the early 90's.  On a normal Friday with normal prices the bar would gross $500.  I dropped the price of bottles to $1.00, made bowling $1.00, sold hot wings for $1.00 a plate, and I had live bands that played for free.  In about 12 months the bar was grossing $2000 and I didn't have to offer the wings.  There was a competing bowling center about 1 mile away.  

It was midnight.  Every lane was full with people, the bar was full.  I drove by my competition at midnight.  It was closed.