Staying motivated can be a part of it, but it's also making sure others stay motivated and keep going with whatever they're working on. Traction is defined as the support or interest that is needed for something to make progress or succeed. Last year i had what i thought would be like a six to eight week rehab take four months. And it was 20 minutes from my house. I could have done the work, but there's no way os complating that rehab. Even another friend of mine, who's very experience and very successful, needed almost a year to finish rehaving a triplexn.
#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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