I don't know when will I find a job this year as it seems a global recession is coming.

However you could maybe convince seller to give a bigger discount with the looming recession, which may make a good deal become a great deal.

The other time being the early 90s recession, where prices dropped on average about $1800.

Given everything that is going on in the world today, it is pretty clear to me that we are headed for a global recession/depression due to the economic impact that will be felt worldwide from the Coronavirus.Hopefully I am wrong, but the signs are pointing this way...So to be as prepared as possible going into these time, through and coming out the other side, as this really being the first recession I have gone through that will impact me significantly (as the 2008/9 one I was young enough and going through post secondary education that the impact to me was minimal), I wanted to lean on the experience of those that have been through one of more recessions.Here are some of the questions that keep coming to mind:Previous experience:- how did you protect your downside and mitigate risk in your portfolio and personal finances when you realized where the economy was headed?

I mainly sell alot of SFRs and Condos and over the last month I have been looking into land sales. Telephone prospecting has been the life blood of my business and I am considering adding vacant lots and raw land list...

I would likely shy away from using the line to buy additional properties in an area that seems to be reliant on one industry (which might dry up during any recession). 

During our prior recessions we didn't take a very big hit and made a big comeback.

@Shaun Roark I started my PM company in 2010 during the last recession in response to finding more people needing that service. 

Personally, cash reserves are more important when there is recession.  

Hi all, while we are not ready to call a recession or downturn in the RE market just yet, I would like to plan for this eventuality.