I’d agree that we’re seeing several contraction-phase indicators right now - slower transaction volume, tighter lending, and buyers/sellers adjusting expectations.Personally, I think whether we label it late-contraction or early-recovery depends on how interest rates and consumer confidence move over the next few quarters.

They vote each quarter on where to set interest rates.

Our lease allows us to inspect the units quarterly.

You need to work backwards (EOS is a great way to do this) where you start with your lagging goal of where you want to be, but then you need to understand what it is that gets you there and break it down by quarterly milestones then tasks to get to that milestone (for example if its making 2500 calls a quarter and you do not have phone system or software, that would be a task to keep you moving).

I usually do a single introductary message like once per quarter or once every six months so it's more of a personal message than obviously being in a marketing funnel.  

We negotiated a quarterly ceiling with a few owners as well.   

Going forward, inspect at least quarterly, even if it's just an exterior walk of the property. 

Quote from @Jorge Vazquez: I can’t count how many properties I’ve walked into and found pennies, nickels, quarters—even perfectly good items—just left behind.

I’ve compiled this analysis to provide a snapshot of both the macro trends and how they’re playing out in our desert market.National Snapshot: A Market in TransitionForeclosures Are Increasing—But It’s Not 2008Foreclosure activity has climbed steadily since 2021, now sitting at approximately 125,000 filings per quarter—more than double the lows seen a few years ago.

It's about length of time, the set-it-and-forget-it model of things and thus a "par" is much more acceptable in a much much lower return range because it's something measured in years and decades, not months and quarters.