You've probably read Warren Buffet's popular saying before :
" We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful ".
CAPITALIZE YOUR BUSINESS
In the middle of all the fears about the COVID-19 crisis, we advise you to be very careful, wash your hands, avoid going to crowded places and do not go out at all if it is not important.
What can you do to capitalize on your business during this time?
If you are in retail this is the best time to buy in bulk; warehouses in China, UK, and more are selling at cheaper prices than usual. BUY NOW SAVE FOR LATER
Do not confuse the prices of consumer basics going up to business materials and essentials. There is less demand during this moment for business materials and it's normal as local businesses are shutting down. What to do? CAPITALIZE.
This is a time for you to stay home and really reflect on yourself or your business, plan and read. Read that book about business, self-development, you didn't have the chance to read yet. Grab your agenda, planner, write down your short term or long term goals. What are you going to do differently to provide for yourself and the community, what are the strategies you are going to implement in your business to build a recession-proof business in the future. Big companies like Apple, Microsoft, Amazon and more have billions of cash on hand. That means even with all the chaos going on they have access to excessive cash to scale once this is over.
Stocks are declining fast. Do not be afraid, capitalize again. Buy stocks while they're are on sale and do not try to bottom out the market as no one knows when the decline will stop. You can average down as it goes down and eventually after the crisis, the market will gain.
And if you are a savvy and professional investor and manage your own portfolio, use put option against the market as it's climbing down as it allows you to risk less and profits hugely if trading properly while managing risks exposure.
Who should invest?
Do not listen to the fake gurus telling you that you can get rich in 24 hours investing, it is a lie.
Yes, you can make a lot of money if you are savvy about the stock market but that is one of the only two scenarios where you can really earn a lot or if your account is in a fund managed by a hedge fund manager and stockbrokers.
Luck is not an option, once knowledgeable luck might tag along but it will always depend on your own level of knowledge about stocks or who is managing and helping you on your stock buying decisions.
Before you start investing in the market, ask yourself these questions below:
- Do I have 3 to 6 months or more worth of expenses?
- Do I have at least $2,000 or more in emergency savings?
- Am I attached to money too much?
- Am I able to take a risk without fear of losing money?
If the questions above do not apply to you, I will recommend not to invest.
In the midst of malls, schools, hotels and more shutting down we know what's coming next. The value of real estate properties will keep going down, it already started. And the first sign is interest rates for mortgages in the United States started to plummet. Real estate and stocks are linked that is why it is almost inevitable for one to crash and the other not to follow through.
What to do as a real estate agent?
It is your time now to get a lot of clients as people with cash ready are planning to buy real estate properties for cheaper price and with a low-interest rate on mortgages.
Tips and tricks
- Do not try to show your client you are just trying to make a sale
- The first impression is important, dress professionally and work on your selling pitch
- Educate yourself about the neighborhoods where you try to sell your listings
- Educate your potential clients about the benefits and the future of the area.
- Educate your clients about which option will be best for them based on their down payment and suggest what is best without being judgemental
What to do as a homebuyer?
Ask a lot of questions to yourself and the real estate agent
Ask yourself if you see yourself in the area for the next 5-10 years (if buying for personal stay)
If buying to use as a rental property, ask about transportation, school availability, walk-in distance, nature-friendly, etc.
Wealth exchange is when wealth is being transferred to one group of people to another, generation or person.
You can always keep your wealth during a crisis but it happens that someone can create wealth based on the smart investment decisions made during a turbulent moment where everyone is scared of taking risks and make crucial business decisions. Capitalize when everyone fears that's the best recommendation we could provide you.
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