wanting to flip but businesses are closing

[Mitchell Jaggar]

I've been working on starting a flipping business. I have a business plan and have been doing my research on properties both buying and selling and am very confident this is a good market here in East Texas. My concern is that a big company here are laying off 50% of their workforce wich will probably end up to be around 1,000 employees. On top of that one of our hospitals are being sold so people aren't really applying for jobs there because of the uncertainty.

So my question to all of you is if this should be a big deterrent to wait on my plans to flip houses?  

[Jonathan Casillas]

I would have to say that depends on some things. First thing that comes to mind is population and percentage of current unemployment. I would figure out worst case senerio job loss wise and figure out what that would do to the local job market ( hence the population and current unemployment).  I would also look at current crime rates and figure out what the job loss would do to that. If your comfortable with that number then I would keep moving forward. Just my two cents.