When to buy your first?

[Ana Kudlack]

Hi BiggerPockets, 

I'm writing this post for any advice to get passed the nerves of buying my first property.  I'm in a very pricey market in NJ.  My goal is to house hack so I can live for free.  The current volatility of the world and markets makes me think the housing and stock market is headed for tough times ahead.  Does one wait for potentially great deals?  Does the price really matter if I'm planning to hold the properties for the purpose of FIRE? I'm already financially independent, now I want out of the rat race within the next 5 years.  It seems my best chance of achieving this is through real estate investing. Thoughts? 

Thank you! 

[Juvawn Parker]

@Ana Kudlack. I can understand being worried about prices being overinflated. Being underwater is not where you would want to start off. I would make this insight though, if you found a deal that cashflow well enough to allow you to live for free, would the price at what you bought it for matter as long as the deal cashflowed and the rents matched the market value? The market has corrections and that's understood coming in. One day you could have equity in the home, and the second day you could be underwater. But on all days, as long as you are able to make your payments, and collecting rents, then you know you made a good deal.