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Old 11-25-2020, 05:41 PM   #965
berad001
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Join Date: Jul 2001
Location: Boston
Posts: 38,049
Quote:
Originally Posted by teCh0010 View Post
My parents did that in the 2008 recession, they sold their house and downsized their primary residence in 2007 and built their retirement/lake house. Then in 2009 they got a chance to buy their old house back from foreclosure auction for less than half of what they sold it for. So they bought it back and rented out the downsized house.
Well played on their part... I fully believe the last 8 months/ next 6 months was/is prime time to sell what you have with the intention of doubling down in the next couple of years. You should tell your parents to sell that downsized house now, kill the current tenants if you have to
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