Ballooning Economy, Predictions

[Alex Chitwood]

Hello everyone! Newbie here I have been in construction for about 6 years now. I am 24 and ambitious to learn. I'm not sure how it is in other states but In colorado new construction is BOOMING, and doesn't look like it will change for a while. What're your predictions? Also, how do the veterans survive the inevitable recession? Do you hold on to your properties? Eventually I will buy my first property but the economy is always one thing that sends a chill down my spine. Like when and when to not buy. Thanks guys/gals! Alex

[Nick C.]

Don't worry about what the economy is going to do, leave that to the fear mongers and chicken littles trying to sell books. Worry about having cash reserves, have multiple exit strategies, keep some equity, be ready to adjust your game plan on the fly, and you'll be fine.