Want to know the best location, location, location for you to invest in real estate?
…Your back yard!
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. 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.
- 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!
The best part is that we loan on homes almost anywhere in the country. To find out more or to get a quote on a home you need financing on, visit us at www.cogocapital.com. Better yet, if you’d like to receive at $250,000 loan pre-approval, attend a Funding Tour. The tickets are usually $497, but for a short time, a hedge fund has offered to pay for seats. To secure your spot, CLICK HERE or call us at 800-533-1622.
To read our latest success story and learn how a high school dropout is now making 6 figure paychecks, CLICK HERE.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing
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