first flip in waco tx

[Maryann Garcia]

We've never flipped a house. But we can see the writing on the wall for the future of downtown waco tx. The magnolia market is booming to say the least.  We've found a couple of homes within walking distance of the silios/magnolia market for $30,000. The neighborhood as a whole is very run down. I would love to hear opinions on putting about $50,000 into it then renting it out on Airbnb. So our delima is that the comps are not much more than $50,000. So how risky is it to knowingly put that kind of money into a house you know you'd have to hold for years to break even when you sold but see the value in renting it out nightly. There is only  a handful of Airbnb's in the area. Most were on fixer upper but are fairly expensive and not accessible to most people. It's crazy how many people were at magnolia today, in January, the middle of winter.  There's plenty of other things for tourists to do while in the are as well. Are we crazy or not? I forgot to mention I'm able to run the project full time but are hoping to find someone who see the bigger picture and would consider investing with us on this project and others in the future. I've been studying bigger pockets and their recommended books for the last year and specifically moved to waco to start a second career.  I've only been here 6 months but I'm eager to get started. Please don't hesitate to tell I'm crazy. Lol