Featuring brand new roof, new windows, completely new electrical system, completely new HVAC system, brand new plumbing inside the house, and all new designer cosmetic updates, luxury inter-locking vinyl floors & luxury stretch ceilings with recessed lighting & full landscaping with new sod up front.

Likewise homes in established neighborhoods can have more owner equity and therefore less likely to have foreclosures in the event of a recession.

We may have a general recession and real estate would be pulled down along with everything else.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

To me, the question isn't "stocks or real estate," because a diverse, recession-resilient portfolio includes both.

Our annual return after a year was ~50%. after the Great Recession values had plummeted but in many markets rents had not fallen.  

You may hear folks also say the phrase “no landing,” referring to the Federal Reserve being able to avoid a recession but inflation remains.

You can do this using a kind of recession proofing 1031 exchange - Sell properties that have profit and depreciation worth protecting. 

We’re due for a recession in the next few years and you’ll get clobbered when people can’t afford to rent that house.

So for example I'm very conservative and don't want any debt on them because I feel this hardens them in case of a severe recession.