May 11th, 2021 5:43 PM by Eric Willner
Radio Show Notes 05/3/21- Mondays on a Mission on The Real Estate Show – Why I like to Invest Locally, Close To Home, And Why You Might Not…
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By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate heard Monday Thru Friday on the air, on the net, and on apps.
Hi, this is Eric Willner and on the Monday edition of The Real Estate Show, I discussed Why I like to Invest Locally, Close To Home, And Why You Might Not.
The “In and Out of Town Guru’s” fly in from all over spewing how their unique method of this or that is now the greatest thing since sliced bread. Uh-huh. Buy their latest system and you’ll be rich. Right. Buy Vegas this week, and buy Tennessee that week, that new technology is all you need and you can do it in your sleep. Really?
As for me, that all may sound good, but there’s nothing more reliable than good old local real estate. Let me tell you Why I like to Invest Locally, Close To Home.
I like to Invest Locally, Close To Home. Proximity breeds familiarity, and familiarity builds confidence. Plus, it’s nice to drive by your property once and a while and get that warm and fuzzy seeing your tangible asset, not just a paper promise from a distance.
Convenience is another benefit of Why I like to Invest Locally, Close To Home, I can handle issues easier and in person, if I have to. I can inspect the work during and after. Monitor progress. There is still something to be said for eye to eye negotiating and a handshake or fist bump.
Time is money! When Why I like to Invest Locally, Close To Home, and not having to wait for long distance go between middlemen to get things done is not only a time saver, it’s a financial savings, not to mention less stress. This is especially true in an after hours or emergency situation. They are rare, but do happen.
Local Vendors are another reason I like to Invest Locally, Close To Home. I already had some vendors when I started simply because of personal needs, a plumber, an electrician, a handyman, etc. Now I can use that old relationship to solve new investment property needs as well.
When I like to Invest Locally, Close To Home, to them I am now worth twice as much as a customer! This gives me more influence with them in a pinch, and better pricing on average. This leads to economies of scale when buying goods and services.
A collateral benefit when I like to Invest Locally, Close To Home, is my vendors also keep an eye on my properties for me on a more frequent basis than what I could do myself and way better than a property far away, where I am just another occasional customer.
Local Knowledge is another reason Why I like to Invest Locally, Close To Home. I live here, I work here, and I play here. I know what’s going on close to home. I know the good parts of town, and the bad parts of town, and where to stay out of. Sometimes what you don’t do, is just as important as what you do do.
Location, Location, Location has always been a fundamental principal in real estate, and when I like Invest Locally, Close To Home, I am much more likely to master “Location” too.
Financing is easier and another process made easier when I Invest Locally, Close To Home. I have my local banks that cater to local residents, and local bankers that know me from my personal dealings too.
Speaking of personal, the people I know are also Why I like to Invest Locally, Close To Home. It’s easier to know buyers, know sellers, and maybe even know prospective tenants.I can even check out how prospective tenants live before I rent to them.
A lot of this comes from the daily things I do anyway, that help me in my investing, and that’s Why I like to Invest Locally, Close To Home. It seems more natural and less intimidating.
On the other hand, there is one strong reason NOT to Invest Locally, Close To Home. It’s called diversification, not having all your real estate eggs in one basket. If for some reason my local market takes a sudden or exclusive downturn, that would be really bad. Take for example when Hurricane Wilma devastated my local area in Southeast Florida. Luckily, even here in Florida, which is a big state, I can diversify somewhat.
There are probably even more good reasons to Why I like to Invest Locally, Close To Home. Can you name some in the comments below?
Listen to the show live or the archived version in its entirety for all the tips, facts and ideas discussed today.
Want more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner. The Show is Live every weekday morning at 5 o’clock pm (EST) on Florida’s Money Talk Radio station WSBR: AM 1470, FM 95.3, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio, WWNN App, and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook.
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Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
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