@Jay Hinrichs I got a call from ************* last night--automated phone call-- saying that the downturn in our economy has come and it's official.

Aside from real estate being very local, some general principles I follow that serve in any economy :1- Follow proper underwriting principles based on my specific investment style ( value add etc..)2- Use leverage to my advantage but never over leverage my position.3- Keep proper cash reserves.4- Educate oneself in the economy of the market I’m investing in, including jobs, changing demographics, historical cycles etc...5- Surround myself with the proper team members who will cover the areas I am weak at and are real experts in their niche. 6- Knowing when to cut my losses.7- I use real estate investing as a way to achieve more important milestones In life including family, health etc... this keeps me focused on the big picture and adds more objectivity to the process.8- The bigger the portfolio, the more risk one gets exposed to in a turning market and the harder it gets to change direction.

It's an economy of scale thing. 

I've personally found that most members here on BiggerPockets are clueless as to how to navigate on that front, and think that in Newark they can operate in a market economy.  

We are catering to people who are not impacted by the economy, and who are used to spending whatever is necessary for the best product.Another approach is to see safety (staying power) in terms of expanding our audience to the largest possible pool, and finding the balance between good enough yet affordable enough.

The obvious downside is that one vacancy means 100% vacancy in your portfolio with bills continuing to come due.The benefits of multifamily is that they tend to cash flow better due to economies of scale. 

I would just hold onto it and wait for the economy to come back up to refinance, but it seems like most sellers would be interested in shorter contracts as opposed to 10+ year contracts. 

However, some people like the larger deals due to economies of scale.

@Dante Pirouz - there are many advantages to buying multifamily properties: they are easier to finance and you enjoy economies of scale.

I was considering starting a home improvement/handyman co because I have tons of experience in the industry but without hiring someone to work for me it's alot of extra exhausting work.