Local people, local real estate investors who you can text, you can be in a group thread with, rit that makes all the difference. It's like tapping into a group mind and having six people work towards the same goal. If i had known then what i know now, i would have spent more time building up the local network,. I know that would have helped make my initial steps much, much easier.
#379: Welcome to our First Friday bonus episode.
Once a month, Afford Anything presents a special feature called Invest Anywhere, in which we teach our audience how to invest in real estate from thousands of miles away.
We kickoff today’s episode by discussing current market conditions. Yesterday the Fed raised interest rates by another 50 basis points, which means mortgages are more expensive than they’ve been in years. Additionally, jittery investors worried about an impending recession led the stock market to its worst day of the calendar year so far.
How should we interpret the current market conditions? Is this a good time to buy an investment property? We cover this in the first 20 minutes of today’s episode.
Next, we discuss 5 challenges associated with investing in long-distance real estate investing: (1) fear, (2) accountability, (3) traction, (4) stress, and (5) relationships.
We elaborate on each challenge and offer solutions.
Finally, we discuss 4 benefits to investing out-of-state: (1) competitive ability, (2) diversification, (3) returns, and (4) repeatability. We elaborate on four types of diversification: economic, strategy, business cycle, and asset based.
Enjoy!
For more information, visit the show notes at https://affordanything.com/episode379
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