If you’re like most people, you probably think the best way to get into real estate investing is to purchase properties close to home. You might browse online for properties in your city, or drive past local homes for sale. I’ve got news for you: the best real estate properties are NOT in your backyard.
On this episode of Investing in Real Estate, I’m diving deep into the problem with purchasing properties in your own neighborhood. I’ll explain how to find the best markets in the country, and how to break outside of your comfort zone to start earning a passive income.
More About This Show
Since I reside in New Jersey, you might assume that I run my real estate business out of my home state. However, I would never purchase properties in New Jersey!
I’ve seen some of the rental properties that my investor friends own in New Jersey. They aren’t in safe neighborhoods, and the homes are full of mold and asbestos. It’s nothing but headaches.
Not to mention, properties here are expensive. The property taxes are incredibly high, and it takes a lot of time and money to rehab an even remotely affordable home.
Additionally, these properties aren’t worthwhile as the return on investment is low. I can’t build a successful business without a certain ROI. After all, breaking even is not a good investment.
If you want to start building a passive income, you have to go where you’ll earn the highest return on investment. You’ll have to break outside your comfort zone, and look for properties in different markets.
On today’s show, I’ll explain exactly how I got comfortable purchasing properties in different markets, the mistakes I made in the process, and how you can get started achieving financial freedom.
We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you'll learn:
- Where are the best real estate markets in the US?
- Why it's important not to fall in love with your properties.
- The mistakes I made in purchasing my first real estate investment, and how you can avoid them!
- The importance of finding trustworthy contractors and property management companies.
- The one metric you should be concerned with when it comes to investing.
- And much more about buy and hold real estate!