Whether you watch every up- or down-tick of the national real estate market with keen interest or you only occasionally tune in to see a news story proclaiming the impending collapse of Western civilization, the biggest secret in America today seems to be that every local real estate market is different. Nationally, the market is trending downward (for the moment), but it’s not only possible to survive in today’s ever-changing market – you can thrive – regardless of what part of the country you call home, as long as you’re investing in the right places.
The truth is, your zip code has about as much to do with your ability to make money in real estate as your grandmother’s secret chocolate chip cookie recipe has to do with the cost of a barrel of oil. The reason I say this is because every real estate market is unique. If you live in a part of the country where you find that you simply cannot find profitable real estate deals, then so be it. With the power of the Internet, your own zip code has never been as irrelevant as it is right now.
In a perfect world, every community would be an ideal market in which to invest. But, the world isn’t perfect and neither are all real estate markets. By investing where the numbers make the most sense, you can reap all the financial rewards that real estate makes available without having to sacrifice your quality of life.
Instead of dumping your hard-earned cash into a struggling local market because “it’s home”, live where you want to live – where you’re happiest or have strong family ties – and spend your real estate investing dollars where they can most quickly appreciate and have the greatest financial impact for you and your family.
You wouldn’t invest in a bad stock fund just because it happens to be managed by somebody with whom you went to school, grew up with, or used to date, and you shouldn’t confine your search for real estate wealth to your local community just because you know the area or grew up there. With that said, don’t automatically discount investing in property close to home if the numbers are there and the profits are just waiting to be realized.
So how do you find the best properties for profitable real estate investing realestateout.com? Some investors run classified ads and others read classified ads; many do both. In addition, you can subscribe to national, regional or local real estate resources in an effort to build a fat investing portfolio.