Do you know the best place to invest in real estate?
No matter where you are in the country, you’re near a prime location. And you don’t need an in depth analysis to give you a radius of quality investing homes and neighborhoods near you.
With all the potential real estate in your city, county, and state (and the whole of the country) you may be tempted to invest in a market with which you’re unfamiliar. Perhaps you’ve recently traveled to a FUNDING TOUR and though the town was out of your normal area, you found some quality looking investment properties on the bus tour and are tempted to put in an offer.
Although experienced investors spread their wings a little further, I rarely recommend it and don’t invest outside of my county, no matter what deals students bring to me.
But, if you want to be successful faster, you really shouldn’t go further than the area in which you live.
If you use the 25-mile radius rule of thumb, you’ll save time, money, and headache.
Here are my top reasons why the real estate in the 25-mile radius around your home or place of work will make you millionaire faster than trecking all over the country will.
Don’t get me wrong, Cogo Capital will fund anywhere you need funding. (For more on locations and states where Cogo Capital funds real estate, visit us at https://cogocapital.com/ or call a loan officer today at (800) 473-6051.) But you need to make a decision about the radius and locations you will invest in, and remain consistent to your commitment to reap the following benefits.
- You won’t waste time, money, and resources on the road. Driving all over is clunky, it doesn’t make sense, and it takes too much effort for too little profit. If you spend your time driving from place-to-place, you have less time to spend managing a flip, listing a wholesale, or selling a rehabbed home. You’ll have a car with a lot of miles and a workload you can’t manage. (I recommend saving those miles on your rig for a family trip this summer!)
- You’ll save yourself potential headaches. Take it from someone who had to drive over an hour in the middle of the night to attend to an emergency. Being in proximity to your property means that if you need to be there fast, you can.
- You’ll be an expert. It takes a while to get to know all the neighborhoods in a 25-mile radius, but if you can spend your time learning the nuances of the streets, the school districts, the demographics, and (most importantly) the comps in those neighborhoods, you’ll be better at your game.
- You have less to cover when driving for dollars. Don’t tell me there aren’t deals around you. Even if you’ve driven every single street in the 25-mile radius, by the time you’re done, there could be an abandoned house on the street you started on!
- You’ll build your network faster. If you stay in your area, you’ll get to know contractors, subcontractors, wholesalers, and real estate agents quicker and better. You’ll have those extra subs in your back pocket to call when the one you’ve hired no shows for the job. You’ll build your team faster and with less trial and error.
- You’ll know how to buy. This is the most important reason because you make money when you buy, not when you sell! Spend the time in your area meeting wholesalers, responding to bandit signs, putting out your own bandit signs, searching for abandoned houses, researching auction houses, considering listings on the MLS.
- Less Taxes to file. Unless that’s your thing; filing taxes in 7 states because that’s where all your properties were. I like to streamline my business better than that.
Confine your area and you’ll maximize your business. Remember the term, there are riches in niches? This goes for your location, too.
If you need help getting a private money loan in your backyard, visit us at www.CogoCapital.com or call a loan officer today at (800) 473-6051. Cogo Capital® offers quick turnaround, excellent terms, and millions to lend. Cogo Capital® serves both local and national real estate investors, real estate agents, and private money lenders in quality, multiple loans.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing
Have a deal under contract that you would like a quote on? Let us know. You can fill out a quick questionnaire at CogoCapital.com to receive a rate quote via email or you can call us anytime at (800) 747-1104 to talk to a loan officer. With millions deployed and millions to deploy, we want you to get the capital you need for your real estate investing.