The 2024 Recession-Proof Business

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!

-----------------------------------------------------

Get social with us:

The BE AN ADULT SECTION 🤗

[larrypaul-cwnk]

This recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.

[Renee-bb]

Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pull cash from my 401k and buy a house, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement?

[Rochelletrem]

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.

[McRuffin]

I saved 5k last year and was on the path to buying a business with and SBA loan. Had set back after set back and fell into a rut. The last three weeks I’ve been back on the right path. I found your channel recently. You have rekindled my motivation to get back on track. Thank you so much. If anybody sees this comment, mention me at this time 1 year for now and hold me accountable to buy a business by the end of next summer. Thanks Codie! :) (edit: I’ll be 24 next month. So by 25 I want to achieve my goal)

[EvelynGrace-gsze]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[lindadiaz]

I'm here for this!!! Currently a property manager for an elderly community.

[MrRockstar]

I watch a lot of your stuff and it’s all great, but this video is probably one of my favorites. In my top 5 from you. Thank you Codie! Keep going!! 💯😎🤘🏼

[llbailey]

I did PM years ago and the key was a stable of on call repair people. Hard in current labor shortage.

[topsolutionsinc]

400 contracts, and 700 is awesome 😎
Great job brother. ❤ Engineering rocks 💪😎

[kylemccaw]

Yes you can print money as a property manager. Most managers never figure out how. As an owner of a p.m. company I also have a general contracting company, a propert maintenance company, and an insurance agency.

[Pew_Meister]

I’m a realtor but also own and manage a 4 unit. I’ve often thought about expanding my management services to other investors, but I’ve had some doubts involving time. Because the realtor stuff plus my W2 is rather time consuming.

[thanoviceinvestor]

Is it just me or does Codie look like she is having the time of her life! Thanks for all nuggets Codie!

[g.r.]

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!!

[billyfitness]

The Trust Accounting is a HUGE consideration that most interested in Property Management NEED to understand.

[peterlohmann]

Loved doing this with you Codie! Video turned out awesome!

[Robertgriffinne]

It surprises me why everybody gets really worked up about recession and inflation data. Inflation has always existed, and people have been using investments to beat the inflation. The stock market return, for example, always beats inflation. I heard of someone who invested $121k last October, and has grown the portfolio by more than $400k. I need recommendations that can give me similar return.

[cameronmanesh]

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 :)

[steven_dekok]

The state you manage properties in makes ALL the difference in the world. I would never to PM in California and I'm a broker! We have a PM department and I see what they go through. California has many laws pertaining to PM and way too many laws protecting tenants. Any other state, I say go for it!!

[mts]

Know your State's Landlord/Tenant Laws. Some states give more rights to to tenants. Knowing the law and following your lease/rental contract to the the exact timelines. Any variations in some states will void your agreement giving all rights to the tenant.

[Da_Fonz]

I've met Eagle Scouts. It's not an easy achievement by any means! Kudos to him!