Should you decide to buy a particular income property because it feels right, it’s located next to your favorite bar, or you’re just tired of looking? Umm, the answer to all three would be a loud, “No!” Why would you approach the most important part of the property investing paradigm with a seat-of-the-pants approach?
At Empowered Investor Network, we’ve chunked it down into a standard and highly successful routine. The first thing is still the first thing. Location! Never underestimate the importance of a good location. Look at it from a macro and micro level. To decide whether a local market is one we can recommend, in good conscience, to our clients, we look at the best growth rates as reflected through economic data, diversity of industry, population trends, and other demographics.
Once we find a broad local market worthy of attention, it’s time to roll up the sleeves and start looking under rocks. This is the micro level of our research. We’ll screen to find a local connection – an area manager with knowledge and, more importantly, has already purchased property there and can show us that the numbers work.
Then, and only then, do we send an alert out to our network that an almost guaranteed moneymaker is ripe for purchase. Yes, you could do all this yourself. We just told you how. Or you could put our 20+ years in the industry to work for you for free. Call 714-820-4200.
