Ready for the Journey!

[Bryan Massey]

My wife and I are finally ready to take the plunge into real estate investing.  This is something that we have been wanting to do for many years.  We were ready to start several years ago and got overcome by paralysis by analysis.   A couple of years ago we wanted to jump in but we were too leveraged with other things.  The time is right and we are ready!  

We plan to start with fix and flips in our local market (Bryan/College Station, TX)and use that money to fund down payments on some BRRRR's and other buy and hold investments. Also interested in STRs at some point in the future as well.

Don't really have any questions, just wanted to introduce myself to the BP community.  
    

[Nathan Gesner]

Quote from @Bryan Massey:

Welcome to the BiggerPockets forums!

I'm excited to see you start, but have a backup plan. I say that because the market is a great unknown right now and flips typically require a market that is growing, not shrinking or crashing. 

Property values in Texas have already dropped 7-10% in the last four months. Experts are predicting another 10% drop as rates increase and the economy continues to hurt everyone's bottom line. If our economy doesn't turn around in 2023, I think the predictions are conservative. Median price could be $250,000 today but $225,000 or lower in six months while you're swinging the hammer. Make sure that's in your projections.