When I invest in these rental properties, they are not always in the highest classes of neighborhoods. They’re really not. So, I want to make a point to people who want an affordable investments: Just because you wouldn’t live there doesn’t mean its a bad investment. You have to evaluate all the options, all available neighborhoods, mitigate all obstacles, and realize that these numbers for cash flow are amazing. Sometimes, in business, you really have to take the human or heart factor out…In business. Not in your personal life, but in business, yes. You can still be ethical, but you need to treat your business like a business, not a charity case. Do your due diligence and this can be the best investment strategies you have embarked on.
You living in a neighborhood shouldn’t completely make up your judgement on where to invest. It can be a part of it, but to make it 100% of your decision isn’t being savvy. Its like only buying stocks when the market is rallying, when you KNOW you should have purchased those stocks at the bottom of the market…But, if everyone was good at business and stocks, we wouldn’t have so many people losing their pensions. This is the world we live in where you have to keep that in account.
2 Comments
Hey Lisa, once again, a super-great vlog! But I have a question. How do you
research the market for potential renters? I understand how to evaluate the
potential a 30K RE has, but how do know if there are people really looking
for what you have to offer in that particular area? That’s one thing that
I’m afraid of. I’m a city boy from the very heart of the Big Apple. And I
have an opportunity in Newburgh, NY, but I really don’t know that
neighborhood. I hear it’s up an coming, from what it use to be, but do
potential tenants know that? Do they know that’s no longer a “War Zone”?
Really appreciate all the help you’ve been giving me and my circle thus
far.
“They don’t know your keeping somebody locked in the basement” LMAO…You
not just about to speed past that like you didn’t say that lol