“How many areas should I invest in?”
This is a common question, and on the surface, its not a bad one.
But, I can tell you without a doubt that this is a question asked by a new investor who is thinking about things the wrong way.
To demonstrate what I mean, let me tell you a story
There are 2 bulls on a hill…and in the valley below there is a group of cows.
One bull is young, easily excitable and eager, the other is an older and more “experienced” bull
The younger bull says to the older one:
“Hey, you see all of those cows down there? Lets try to hurry up and catch one and see if we can $%^& her!”
The older bull looks at the young bull with a smirk that seems to say “youth is wasted on the young”
The older bull says “no, lets go slow and $%^& them all”
A lot of new land investors act like that young bull…
They want to get into an area, try to get as many deals as possible and get out.
By doing so, if theres any hint of struggle for a deal, they pass it up, looking to get something easy.
After they get a deal or 2, then they move on.
Using this technique, an investor will often strike out on a mailer or SMS campaign.
This is why some investors ask how many areas to be in…
The kicker is, there are more deals to be had if you go deeper.
That means taking your time, getting to know the area and the sellers, and not being afraid to take on tougher deals.
This is where the money is!
Not only will you get MORE deals as you try and retry areas, you will find the deals that others pass up.
Those deals tend to be worth more (aka, you get a bigger payday)
So, when someone asks “How many areas should I invest in”
I say “no, go slow and take them all (in one area)”