One of the biggest stumbling blocks for real estate investors (new and experienced) is where to invest. What market will be the ideal location for the next investment property purchase?
At one point in our business we owned property in six different cities across Canada. We had property in Ontario and in BC. It sounded cool to say that we owned property in so many different cities, but the reality was less than impressive as we were forced to rely on our teams very heavily. Traveling to solve problems or hire new team members was expensive and time consuming.
Real estate was supposed to create freedom and wealth for us, not cost us a fortune, stress us out and suck up all our time.
That’s why picking your market is a CRITICAL step in the process of becoming a real estate investor. But, because I am coming at this from a perspective of doing real estate deals that make sense for the life you want to live not just financial sense, this video contains two factors nobody else really talks about when it comes to choosing your real estate investment market.
I’m not suggesting you invest in towns that are shrinking nor am I saying that you have to find a $1.2 million dollar Vancouver house that will cashflow (it’s kind of hard to do that…). I am just giving you a few additional factors to think about that are more important than economic fundamentals when it comes to thinking about YOU, your family, and your goals as you build your real estate investment empire.
You might also be interested in these real estate investing articles:
>> How to Find a Great Real Estate Investment Deals
>> How to Double Your Money with Real Estate every Year
>>Housing Bubble? Housing Slump? Housing Recovery? How to Tell