One strategy that's kind of very hot right now is medium term rentals to those in medical professions, like travelling nurses. Some markets might not have that four plex inventory for them. So they need to be able to analyze different markets to figure out where they can buy four plexes. That's strategy, diversification. And that is also facilitated by opening up the map. Like when we talk about long distance real estate investing, really what we're talking about is opened up the map so that you can pick whatever environment, whatever city and state, is most conducive to the type of investing that you want to do.
#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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