Is there a rule as to how far from home you should travel to buy property? How about other states? Lots of the gurus say to put up signs saying you buy property but what can you do instead if your town does not allow the posting of signs?
I just stay close to home unless it is a big deal or a commercial deal that needs little management. You can do it long distance but it is more expensive. I would consider a partnership with a friend or experienced investor long distance. If you have enough of a cash flow you could pay for management too but harder to find bargains far from home.
Signs are illegal almost everywhere. If there are hugh fines and jail terms possibe i would not use them. Most places just take the signs to the dump. Call your city office to see what the fines etc are
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
I agree, on both points. The distance you travel and the time spent in the process MUST make fiscal sense. To best stay in control of your properties requires a reasonable commute. What is considered ‘reasonable’ is best determined by you.
The road side signs, which a lot of the so-called ‘gurus’ rave on about are referred to as ‘bandit’ signs, because they are, as Ted points out, quite often illegal. My experience is, they usually do not stay in place long, either because the city pulls them down, or your competition does. You might consider looking into billboard prices in highly trafficked areas.
HTH
Thank you guys for the info. I live in a very small town in N. Calif. The nearest large town is Chico which is about 1 1/2 hours drive. Next is Reno, NV which is about 2 hours. Are these areas too far away to try and do real estate investing. Not so much to keep but to flip or lease option.
That sounds like a nice country drive. I used to drive that long to get to downtown Houston from my house. Nothing worse than bumper to bumper driving. Lease purchase deals can end up being keepers too if you do not get enough money up front.
Happy hunting
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 7
Charlucc,
Welcome to the board. Great to have you posting.
I try not to go more than 1 hour to 1 1/2 hours from home max. Even driving that gets real old after a while.
People have different views and opinions about bandit signs. But the simple fact is, they work. They work very well. Please check your local laws regarding bandit signs before using them.
I recommend www.banditsigns.com for all your sign needs.
It is true, Bandit signs can, and do, produce results. The results (here comes an assumption) vary greatly from location to location. I’m stating the obvious, I know, but if you are going to use them, place them in highest possible traffic areas, to and from your target area. But, if you have to travel 3 hr round trip to place them and check that they haven’t disappeared on a regular basis, that’s a factor, too.
http://www.witnessdesigns.com is a good source for bandit signs, car magnet signs and other good stuff. Tell Chris that Neodemesne (BruwmacWorldCreations) sent you. (Nope, nothing in it for me)
HTH