Sonny Rao: Conversations around neighborhood reconnaissance don't just have to revolve around risk exposure, right? It can also help you uncover opportunities. He says that luxury mobile home park for retirees is a very different investment than one in a lower cost of living area. So those are some of the issues to be alert for, to discuss with other investors and with real estate professionals,. as well as with people who live in the cityWho are not in the real estate space and see things from a different frame.
#411: In the final installment of this two-part mini-series, we walk you through becoming a subject matter expert in your investment city of choice.
We discuss who you should talk to, where you can find them and what you should talk to them about.
Timing of discussion points as of November 2022:
06:11: Who you should talk to
10:09: Why conversations with non- real estate professionals are important
11:49: Where to meet other real estate investors
13:19: Expanding your network, character due diligence and making friends
13:59: Thinking through others cognitive biases
15:56: Potential implications of neighborhoods with “good cash flow”
20:57: An example of objective feedback
29:40: Dumpsters, sewers, permits and problems: Other specifics to discuss
For more information, visit the show notes at https://affordanything.com/episode411
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