20 "Places" to Look for Real Estate Investments

04/11/2019

According to Roger Blankenship, a member of the Forbes Real Estate Council, the only thing real estate investors need to know is perhaps the simplest thing: Where are the trends headed?

Blankenship argues that there’s a way to earn money in any market and in any economy if you’re paying attention and have a plan. He outlines 20 “places” real estate investors should be looking this year, with the caveat that these aren’t literal places. Rather, these “places” are more his principles for investing.

For example, he advises investors to watch for where the deals are. If you’re not seeing any action in your area, maybe its time to expand your reach. Hence, the “place” in quotes – yes, this could be a literal place, but it’s more of an ideology.

Here are a few more of his philosophies:

·       Let someone else try to experiment with new ideas first. If it works, dive right in and try it, but let them spend the time and money if it doesn’t.

·       As with anything in life, find a balance between risk and reward. Some of the best ideas may be chancy, but also don’t be afraid to stick with what works.

·       If there’s some low-hanging fruit, just take it.

·       Look for areas with expanding populations.

·       Look for midsize cities. Blankenship says these cities have moderate prices, moderate risks and fewer competitors. (There may be a few of these in Northeast Wisconsin). He also mentions the Midwest specifically as another “place.”

·       Look for low prices, because low prices mean low risk and possibly a larger pool of buyers.

·       Good school districts. This one’s pretty self-explanatory.

·       Look for steady performers. “Make solid margins … and then call it a day,” Blankenship says.

·       Stay local. Find someone nearby who is investing and learn what works for them and what doesn’t. If possible, strike up a partnership.

And don’t forget - NEWJOY is one of those local home buyers, and we are able to provide fast, fair offers in as little as 24 hours. Call Dan or Diana today!