Want to three more businesses to weather any recession? Check out:
Today we’re talking about one of the most recession-proof businesses that has one of the lowest failure rates on the market today.
The real money isn’t in crypto schemes, NFTs and Airbnb arbitrage. As I’ve said before, it’s in boring businesses that have recurring revenue. Today you’re going to get a 10-minute lesson in a business that’s not only high ROI and low on the migraine scale.
I spoke with the co-founder & CEO of RL Property Management, Peter Lohmann, who turned his systems engineering background into software that lets property owners rent their properties to clients while making the process seamless for you.
Ever wonder whether you should go into short-term rentals vs long-term? When does one have an advantage over the other? And what do you do in a down market, like ones we’re starting to feel in 2023? We want predictable revenue with passive income and sticky tenants. I explain how and why in this video.
Do you manage a property or are you a client looking to buy? I want to hear from you, comment below!
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All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.re…(read more)
BREAKING: Recession News
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The 2023 Recession-Proof Business: Thriving Amid Economic Turbulence
In today’s uncertain economic climate, one thing is certain: recessions are bound to happen. History has shown that economic cycles are inevitable, with booms and busts recurring throughout time. As entrepreneurs and investors, it is crucial to be prepared for potential downturns and to seek out recession-proof business opportunities that can thrive even in the midst of economic turbulence.
The year 2023 has been predicted by some experts as the onset of another recession. While this may seem intimidating to new and prospective business owners, it also presents a unique opportunity for those with an astute sense of market trends. It is during times of economic uncertainty that certain industries tend to shine and withstand the storm. Here, we explore some of the promising recession-proof business ideas for 2023.
1. Healthcare and Pharmaceuticals:
Healthcare is a sector that remains resilient even during economic downturns. As individuals continue to prioritize their well-being regardless of the economic situation, businesses in the healthcare and pharmaceutical industry are well-positioned to weather the storm. From medical equipment suppliers to home healthcare service providers, opportunities abound in this sector.
2. E-commerce and Delivery Services:
In recent years, online shopping has experienced tremendous growth and has become ingrained in people’s daily routines. The convenience, accessibility, and variety offered by e-commerce platforms have made them indispensable to consumers. During recessions, when people become more price-conscious, online platforms often offer better deals than brick-and-mortar stores. Additionally, delivery services have become vital, as people prefer to have their purchases conveniently delivered to their doorsteps. Thus, starting an e-commerce business or a delivery service can be a recession-proof venture.
3. Essential Services:
Certain businesses provide services that are essential to people’s daily lives, regardless of the economic situation. These include utilities, waste management, and transportation. Companies operating in these industries usually have consistent demand, making them well-suited for a recession-proof business model. Electric utilities, water and sewage treatment plants, and public transportation services are all examples of businesses that can withstand the storms of economic downturns.
4. Food and Beverage Industry:
While some consumers may cut back on luxury purchases during a recession, they still need to eat. Businesses in the food and beverage sector, particularly those offering affordable options, tend to thrive during economic downturns. Quick-service restaurants, fast-food chains, and budget-friendly grocery stores can experience increased footfall and turnover during recessionary periods.
5. Renewable Energy:
As the world increasingly shifts towards sustainability and combating climate change, businesses in the renewable energy sector are poised for growth and longevity. Governments worldwide are investing in renewable energy infrastructure, making this sector relatively immune to economic downturns. Starting a solar panel installation business, developing wind farms, or manufacturing energy-efficient products can be lucrative recession-proof ventures.
It is crucial to note that no business is entirely immune to the effects of a recession. However, by carefully selecting a recession-resistant industry and effectively managing operations, entrepreneurs can significantly increase their chances of success. Additionally, having a diversified business portfolio can help mitigate risks during periods of economic uncertainty.
In conclusion, the 2023 recession presents a unique opportunity for savvy entrepreneurs to establish recession-proof businesses. By paying attention to industries such as healthcare, e-commerce, essential services, food and beverage, and renewable energy, individuals can position themselves for success even during tumultuous economic times. As with any venture, thorough market research, strategic planning, and adaptability are key to thriving in the midst of economic turmoil.
Codie, I’ve watched this twice now and it still gets me how sad it is that you are so impressed by his 6 week vacation. He should be taking 4-5 months if he has so many properties and making so much money!!
Thank you for what you do 🙂
Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Although I read an article of people that grossed profits up to $500k during this crash, what are the best stocks to buy/short now or put on a watchlist.
Thank you codie
Sounds like a Dan Pena student
I watch several YouTube videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
Looking at the positive side, every recession brings an equal opportunity in the financial market for those who are well-informed and prepared. I've come across stories of people accumulating up to seven-figure sums during such periods, and even achieving success in a favorable economy. As a baby boomer, I honestly believe that I would require guidance to attain such a significant amount for retirement. We should certainly find a way to benefit from this situation and make the most of it.
SELF STORAGE
6 weeks vacation? Thats nothing. My property manager hasnt worked in a year.
Shepherd's Chapel Network !!!!!!! Have you obtained your free CD / The Mark of the Beast ???????
Stupid youtube commercials suck!
Real estate is a great way to make money until you have a pandemic and nobody is paying their rents.
“How much vacation do you take each year?”
“6 weeks.”
Dude, you can get six weeks of vacation a year easily in most of Europe. If this system is so good why isn’t he just taking holidays whenever he wants? Learn to delegate better!
Terrific video! It is very important for any person to find something to strive for and fight for no matter what the circumstances. Once you set the right goal for yourself, making decisions will be easy and fun. What used to seem like an excruciating chore will turn into an enjoyable activity. Go where your labour will be needed! Go where there is money and where your work will be decently paid! Sooner or later you will have to co-operate with people of different nationalities and cultures. To make your business successful, you should learn a foreign language. I would like to recommend to you Yuriy Ivantsiv's workshop "Polyglot Notes. Practical tips on learning foreign language". This book will help you to structure and organise your individual language learning process, will give you the opportunity to independently determine the methodology of language learning, which will become interesting and unburdensome. In this amazing book everyone will find a lot of useful information: how to learn foreign languages, how to memorise information, how to deal with culture shock, what to pay attention to when travelling to another country. I am convinced that the book "Polyglot Notes" should be in the bag of every business person, school and college student, and tourist. The most important thing is that the book gives a good motivation. Don't be afraid to do something to realise your dreams! If people realised that fears have no connection with reality, everyone would live a much better life. Thanks to the author of the channel for the informative and useful video. Your videos motivate me and give me new ideas!
WOW Great Information. Thanks Codie. Victor Da Connector (Balderas) Dallas Texas
Anyone has 6 weeks vacation a year in Germany.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
¿Are you married?
Perfect! Thnx!
I love you Cody. You are a stickler for good posture and I'm a multifamily realtor and investor that's a stickler for pronouncing REAL-TOR correctly. It's not real-a-tor its REAL-TOR!!! I'm so tiled girl 🙂
Excellent interviewing skills!
Great video. However, trying to build wealth or create passive income shouldn’t be limited to this. I’ve watched several youtube videos on how to make money online, how to trade in the market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
This video is informative, but here in California you need to have a R.E. License and then be working under a broker. So you would have to wait a minimum of 2-4 years to get licensed as a broker (it takes that long if you are already licensed as an agent) or else you could partner with a broker.. Are there any other ways around it??
I also noticed Peter is a R.E. Broker in Ohio, which also is required to run a prop management co. So, his upfront $1200 costs were from getting his broker's license?
Sorry, I call BS Codie. Every video of yours just isn't applicable in my country. There is no such thing as property managers down under here, they are called Real Estate agents, the owner of the franchise who sells the IP 99/100 ends up managing the property, they collect 7% and then employ people to manage them all and its a crap job, nothing like portrayed in this video. Im yet to find one video of yours that works here, Storage companies are usually franchised, so you pay somebody else for the rights to own tthe storage units. There are very few ways to get ahead realistically, outside getting a Masters in business and saving for two decades to pay off two properties, $1.5M is an average house here, $700 rent per week. I wish Id been born in a bigger less expensive country like you. But I will collect $350 pension on top of the rental, which is plenty enough to live off. Thats one thing you need to teach people, live within their means. Drive a Prius etc.
I tried with one house – and after the first month move in – they didn't pay – it was a horror show … 🙁 it took so many months to get them out that we defaulted on the low mortgage and lost the house. Now I won't even rent out an extra room
I have come to the conclusion that when one door closes if you look around properly you’ll see a bigger and better door wide open, I got laid off at work, I felt devastated but due to my predicament and desperation I got introduced to a financial expert by the name Robert Andrew and working with him has been one of the best financial decisions I have made
Someone please direct me to where I pitch to Codie for investment
Hey Codie! An idea! You mentioned in another video the No No businesses due its ROI and other hazards and one of them was Hotels or Hospitality businesses including restaurants. Now contrasting those business with this one in this video of managing properties. I have come across knowing that there are Management Companies who manage other people's hotel properties at a certain percentage of sales. Isn't that a good idea? However it is certainly a human resource intensive business. And managing people in a Semi-skilled industry can be challenging and nerve wrecking at times. I will be happy to get your input on this too. Thank you!
But won't you need a brigade of electricians and plumbers to fix these problems in so many properties and not only that you need to monitor that while the maintenance work is going on, nobody steels something from the tenants as some of them may be in their office or gone out buying groceries. Please guide me through these scenarios if you can. Thank you!
Hello Codie! Have you ever covered the Gym business with regards to manageability and rate of failure or success? Thanks!
Hello Codie Sanchez! I would recommend if you could please do some research on online colleges or popular course providers. Are they recession proof and do they have 90% rate of success? Thank you in advance!
how do you become a property manager without any experience?
Under the secret section. Can you explain how he has a 15% profit margin while making $300 in profit monthly per house? Is this for property management only? I feel like some details are missing.
I love your work, content and message. However, please pronounce REALTOR correctly…JS….Para Adelante Codie!!!