How to survive an Impending Depression
My husband and I are getting into buy and hold real estate investing and are planning on BRRRRing properties. The renting market is in an incredibly high demand in our area, but we are in a small town. When talking to friends, family and even to each other we keep getting asked and asking ourselves "How would we survive this depression, or crash everyone keeps talking about!" We have small children so it's only natural we as well as our family is very concerned with what we have just embarked on. If your leveraging your properties to buy more and all of a sudden we do have a crash, people cant afford what they used to. You no longer have rent coming in to pay your mortgages, without a way to really fix it.
Is this just the downside of real estate investing? Is there another idea or something that we haven't thought about? We were 100% set and ready to go and about to buy our 1st property, but family keeps asking us this question and without a good answer I dont know if we can move forward. If you cant answer to yourself how do you answer to others.
Any insight would be incredibly helpful. We may just be overthinking this.