Hello all,
We all here the “Doom and Gloom” about the current
housing market, but investors who have vision and
do their due dillegence see it otherwise.
So from your hands on experience . . .
Where is the best city and neighborhood in country to
invest in Real Estate right now and why do you think so?
Atlanta and surroundings
Because it the market that I know
I agree. Your own “backyard” is probably the best place to invest. Make your money going into the deal still applies, no matter where you choose to invest.
You can be successful wherever you choose to invest.
The challenge you will face is creating (and keeping) a fantastic team.
Building Your Power Team
Here’s what you need to do. Find out who is in charge of your local “respected” REIA (Real Estate Investor Association). Some people assemble these groups purely for the money so you need to be careful. Here’s a trick that we have used when dropping into a completely foreign market, such as: our venture into Charlotte, North Carolina.
You contact the President of the REIA and ask him when the next meeting is and tell him that you might be interested in joining. During the conversation you ask them how strong their corporate membership is and if they have a website. If they have a website many of the people listed on the chart below will be advertising their services directly.
If they do not have a website and preferably the better option, ask for a half-hour meeting to discuss membership and ask a few more questions. Tell them you are “anxious to get started”, you will have your checkbook and if everything looks good you will go ahead and join up at that time.
Bring the chart below to the meeting and ask them to fill it out completely. If they are unwilling to assist you with all of the items, ask them why? Pretty much any answer is unacceptable and do not join their REIA. They are not actively involved in buying and selling properties each month. If they are flipping, rehabbing or land lording they will have these contacts for you.
http://i512.photobucket.com/albums/t324/matt-gerchow-real-estate/powerteam3.jpg
Hope this helps,
Matt Gerchow
this post is BS
Ditto on the previous post.
Matt Gerchow, if someone came up to me in ANY meeting and told me to fill out a form with the names of everyone I work with…I would get up and move away FAST from that person.
You have gotta be kidding. That kind of pushy behavior will win you no mentors or buyers.
Furnishedowner
Matt is posting in a lot of threads. Every time I read one there is a copy and paste article. It gets annoying fast.
Some people are here to learn.
Some people are here to teach.
Some are here to peddle materials…
It’s very obvious what categories people around here fall into.
Real estate is still like to the stock market except you get a better price when it is still going down, not when it bottoms out. CASH is KING so if you have cash and afford to hold, grab what you can. Real estate just like life and everything else works in cycles of ups and down. its just imporant to know when to buy. We are in the down cycle and many markets are near the bottom, a few have started leveling off and some never crashed or saw double digit increases like Texas or smaller cities like Pittsburgh or Buffalo, I think Detriot was rather low on appreciation but strong cashflow.
Right now with low prices, working towards commercial real estate is great since landprices have dropped alot. It does not have to be an apartment build. Many people forget about large retail properties. The southern beltway has some great deals on NNN properties like FastFood, big box retail, Walgreen’s,etc.
Just open your eyes, crunch your number, never get personal with the deal, and always go in with an open mind and look for constructive critizism on a deal since it will make you work twice as hard on the numbers.
Also with cash, LANDBANKING is a good investment in many areas. Look into low zoned lots like Arigcultrual that maybe on a major intersection despite being an undeveloped area that would make a great Walgreens, CVS, McDonalds, Gas Station,etc. Get the lot tied up, then check out the local zoning commission. Ask them what they like to see on that lot in sense of longterm goals. See if they are willing to rezone it to something like above with ease. If so, move forward on the deal, if not back out. Just do not tell the person who owns the land what your up to. Rezoning land is the easiest and fastest way to increase raw land value. You can increase the value 5X overnight.
Andrew
yrush,
great post…ty…
Nice graph Matt I am impressed!