Q2/Q3 we will likely be in an "official" recession, whatever that hazy term means now, and inflation will be coming down quickly. 

Lets not forget a lot of people made millions during the great depression and the last great recession.

Both have been STRs since 1999 (some of those years they were STRs only in the summer months - mostly the first couple of years and again in the Great Recession). 

Hey Nicholas,I suppose I was referring more to the impending recession which will cause some pain to current homeowners which my lead to many who cannot afford their new mortgages. 

I think there is every reason to believe that a recession brings down housing demand and people move back in with one another.

I moved to Chicago at the bottom of the recession specifically to get into SFR.

Yes, tech jobs played a role to a degree in San Fran, but NYC not quite sure.I would attribute the massively price appreciation more to international equity and housing markets after the recession.

G'Day everyone,I never in a million years did I think I'd be writing this but life and business can be funny sometimes.So we hated property management for so long because it's a very "thankless" gig.Tenants complain things aren't getting fixed quickly enough and landlords complain that things cost too much to fix lolAnd the property manager is stuck in the middle.Long story short, we had to set up in-house property management because that was the only way in our opinion to have a successful turnkey operation.Fast forward 10+ years and "what do ya know"We love PM....The residual and predictable income.The recession "proofness" of the business model.The value it offers to both tenants and landlords.And off course the profit margins once you hit an economies of scale standpoint.We have also fine tuned our operation over the years to almost perfection and established ourselves as the #1 rated property manager in Toledo.Systemize, optimize and monetize is what we did.We are now at a point where we could like to focus on mergers and acquisitions.Yep, I kid you not lolI'd like to buy other property management companies that don't know what they are doing just like we didn't I guess for the first 3-4 years.Looking to stay close to home in Toledo to start.I spent some time cold pitching local companies but they are all too proud to reply in their incompetent management style and prefer to continue running a scam.Any advice from other PM owner folks that are more experienced/advanced than we are would be much appreciated.Specifically on how to find an owner interested in selling.Grazie mille for reading and I'm looking forward to your reply 🙏

My only question is this: coming into a recession, is it still possible to profitablity wholesale land?

We focus on the mainland for cashflow so we can hold on to the asset incase of a recession.