I currently managed a mid 9 figure mixed portfolio of multi-family and commercial properties through my company, Spofford Enterprises. As the US heads into a recession, I wanted to share my thoughts on how this will affect the real estate market.

During a recession, the real operators are accelerated while the rest are left behind. The real operators are those who create value, and by doing so create wealth. In order to be a real operator, you need to have tenacity and the ability to remain unemotional.

You need to be able to operate out of studied history, facts, and data – not raw emotion. There are only two days that matter in real estate, the day you buy and the day you sell. Don’t let emotions dictate your decisions.

Real operators also understand the importance of obsessively learning. I had to educate myself on everything about real estate development. I found the best of the best land use attorneys, engineers, architects, contractors, etc. and absorbed every bit of information they provided me.

As we head into a recession, I’ll be focused on areas of real estate that won’t be heavily affected by the economy. These areas include healthcare, academia, mult-family residential, etc. These areas are indispensable. People will always need healthcare services, education, and a place to live.


In a recession focus on the essentials and don’t let emotions dictate your decisions. I recently did an in-depth interview with Realty Today, which dives deeper into this subject.