Recession is coming?

[Mary Jay]

https://www.marketwatch.com/st...

Hi guys,

I was reading this today and it seems that everybody keeps talking how recession is imminent.

So, those who survived last recession, what do you think you did good and what do you think you did bad? And have you survived the recession or had to file for bankruptcy?

I have an acquaintance who kept leveraging before recession, got crashed during recession and now is not leveraging at all, buys his properties for cash and is doing well.

Here are my thoughts:

When recession hits would be good to have an ability to buy more, since assets will be at discounted prices.

May be it makes sense to decrease the leveraged amounts?

For example, I have a lot of equity in my house I live in, (if I dont refi it it will be paid off in 8 years, and my rental will be paid off in 11 years)

However, if I cash out refinance my house, there will be enough of equity to completely pay off my house.

This will increase my buying power, since I can  collect the rent from my paid off rental and put it towards buying more.

Because in recession you want to buy more...

Am I thinking right?

Will you guys please share what you learned from the last recession? What is your plan for this recession that might come?