Many markets are tightening up all around the country. Investors are having to reach out to other markets to find deals. Many markets have a lot of competition and I have found that it’s good to step outside your comfort zone. It can be intimidating but trust me, it’s worth it.
Step outside your comfort zone:
Investors have decided to explore other markets that are nearby. They have found that these travel ventures have been very profitable for them.
If over the past two years, the prices in your town have taken a big jump, seriously consider looking in other markets where you think there may be less competition.
If you look very closely at your surrounding markets, you may find that they are just as lucrative as the major market that you might currently be in with a lot less competition and a lot less risk.
Change is coming:
What I see happening in the major markets is houses that you can buy to rehab are shooting upwards of $150,000 and $200,000.
If you are just wholesaling this may not be a problem, but if you are a major rehabber, now it suddenly takes hundreds of thousands of dollars just to buy one property. The more you borrow in a rehab and the more deals you take on at one time, gets to be a very risky proposition.
Now that we live in the age of the internet, it’s not hard at all to make a buying decision a few hours away.
So, go ahead and stretch your ability to buy something a little out of your comfort zone. It will be a good experience for you.
Take care, comb your hair!
PS: Before I let you go, I wanted to give you my eBook! Download it here!
PPS: If you would like more information on how to wholesale in surrounding markets virtually; Check out the video below!