http://mypropertiesondemand.com We Find Profitable Properties for You! Tue, 24 Aug 2010 12:52:24 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 http://mypropertiesondemand.com/2009/02/19/investing-beyond-your-own-backyard/ http://mypropertiesondemand.com/2009/02/19/investing-beyond-your-own-backyard/#comments Thu, 19 Feb 2009 14:03:28 +0000 Josh Hamm http://bigprofitinvestments.com/?p=30 I have found that if I am only focused on investing in my own backyard then I am missing TONS of opportunities.  Sure investing in my own backyard is easy and comfortable because of location but may not be the smartest option.  Your backyard may be in a market with expensive inventory that has no chance of possible cash flow.  Sure, the area is nice and the property is pretty but is this really a good decision?  Expensive location, pretty house, negative cash flow.  Oh, but the mindset may be that the market will come up and I will have appreciation.  Ok, but when and if?  Appreciation is speculatory so don’t bank on it and get stuck in having to pay to own the property.  A negative cash flow scenario means you have a liability on your hands and have made an emotional decision.  Have a mindset focused on the finincial data and get rid of the emotions.  A good investor does not invest based on emotions, he or she invests based on the numbers.  So maybe investing in your backyard isn’t the best idea.  I would encourage you to look at other markets nationwide and find an investor who specializes in that market to help find you a profitable wholesale property.

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