What region do I like to invest in?
well like many things in life, it depends.
Theres 2 schools of thought on finding an area to invest in.
1) invest where theres a lot of land investing activity
2) invest in lil known areas away from the other investors (virgin territory).
Both can be useful strategies, but you have to have a goal in mind to know which strategy to go with for your next mailer.
If you are looking at more expensive properties or, your sales skills sucks, going where theres a lot of investor activity is a good thing.
You know that once you do get property in that area, you wont have trouble selling it, no matter how bad your ads are, lol.
The downside is that you will have a lot of competition to acquire land which can delay finding a deal
or it can drive up your acquisition cost to beat out the other land investors.
You may also have a lot of competition selling the property (but that may not matter if the area is hot)
Besides, the sales issue can be overcome with top notch marketing skills.
When you are looking at areas that don’t have a lot of other investors competing, you will get more deals for less money.
Also, when you sell, you have a good chance of selling for top dollar since you are the only game in town.
However, without proper research or sales skills, you may end up in an area that not many people are interested in.
As you can see, both options can work, but there will be some work to do on your end.
To know which works for you, ask assess your acquisition skills by asking yourself if:
• How much do you have budgeted for acquisition?
• How much time do you have before you need your ROI?
• You know how to properly price your offers?
• Is your offer letter or text message appealing?
• Do you know how to market property you have for sale (more than putting it on fb marketplace)
The answer to those questions will help you understand which strategy to go with in your next mailer.
If you still aren’t sure what to do, then you sound like how I used to sound.
In that case, having someone hold your hand thru the process could be a good idea
If so, comment below “help”, and I can see how I may be able to help you
-Coach Vic
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