What to do in an economic downturn

[Victor Martinez Lazaro]

Hello there again!

So as you might've heard the stock market took a hit, I've heard some rumors as this being a sign of a looming economic downturn, will it turn out like that? 

I'm not too sure, either way when a recession does inevitably occur what would you do? Better yet what should you do? 

From what I can gather if you saved enough money you could strike while prices are low and get a really good deal, but then what if it doesn't turn out? You might still be in the middle of the recession so selling could lose you money. Holding onto it might not be best either as it could be bleeding you money.

Of course this is assuming that something went wrong, so maybe this could all be avoided.

Either way what would you do? 

(P.S. I'm looking at buying and holding multifamily houses if any are wondering)