Epic Real Estate Investing - How to Pick a Good Market? | 692

Episode Date: June 23, 2019

You are starting your real estate journey and you don’t know what market to pick? Tune in, Matt has some great pieces of advice for you!   Learn more about your ad choices. Visit megaphone.fm/adchoices

I came to the Epic Consensit because I follow Matt and podcast. He's a great guy. A lot of Golden Nuggets. So I actually went through a whole podcast in two weeks, all of it in two weeks. But I drive for work, so it just, it worked out that way. What I like best about the Epic Intensive is how personal it is. Everyone's, it's just a small room. So everyone gets their question answered.

You can't beat that. One Golden Nugget that's going to change my business, without a doubt, is a daily success worksheet. Just having that report. and checking in every day and holding yourself accountable every single day. Hey, Rockstar, Matt here. Thank you for listening to the show. I've got a great one for you today. And before we get started, though, I just had a really quick question for you.

Are you tired of spending more and more on marketing, but not seeing enough success with your real estate investing? I mean, the market is showing that spending more on marketing just might not be enough. And setting up a really good automated lead machine is almost impossible for the average person to do on their own. especially in the beginning. The real estate investing solution of the future takes things to the next level because

now you're contacting leads, now you're setting appointments, and now you're making offers because of a solid automated lead machine. That's what it'll do for you. Put that type of opportunity in front of you so you can take those actions. And before I forget, if you like the sound of this and you want to go deeper with it, you might like to attend the live three-day epic intensive lead machine workshop. It's July 18th through the 20th in Manhattan Beach, California. And if that sounds interesting, then head on over to Epic Intensive.

and get the details, epicintensive.com. Alrighty, let's get on with the show. This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade.

now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-Ase.com. Here's Matt. All right, so how to pick a good market. That's what I'm to talk about. Okay? So first thing, they're all good markets. I mean, generally speaking, if there's real estate there and people there that live in that real estate, a business can be built, a business can be made there. You know, the market indicators like, you know, GDP growth and job growth, net migration, vacancy rates, rental demand, government developments and their involvement. You know, all of that stuff and all those factors have their place and they are all important,

but more so with regard to the strategy that's implemented in that market, not necessarily the answer of to invest there or not to invest. All markets are good. And there's a specific area in each market that's a little bit more conducive to a steady business than others. And I'm going to explain what area you probably want to begin with. But with that said, choose a local market first. That's my recommendation.

And I prefer a local market for a few reasons. One, real estate, it's local. And local knowledge is going to come in very handy. You know, there's so much information available out there on the Internet, some good, some bad. And even as good as some of it is, nothing trumps local knowledge, which translates into less mistakes. Two, credibility with sellers. I mean, if you can meet with sellers face-to-face, greater credibility and rapport and trust, that can be built much easier face-to-face, of which means a higher batting average and

successful deals. Three, accessibility and flexibility. I mean, the speed and certainty of which you can move can be a huge benefit and advantage when you're working locally. And that means less competition. So now that we're going to focus local, what do you look for locally? I mean, specifically, I'm speaking of the area within your market, within that local area. You know, to build a steady business right away, you're going to want to look for where

all the action is. And a strong rule of thumb for finding the action, and this is all relative, by the way, but you're going to want to look for the lower to moderate income areas. Think blue-collar neighborhoods. You know, they've got a little higher rent to purchase ratios and, you know, three-bed, two-bath, single-family residences. That's where you're going to find the highest demand for rent. It's where you're going to find the highest demand for purchases. And an area like this, what that means is it proposes multiple exit strategies. You've got options here, less risk. And here's why. You see, it's typically a neighborhood where people are buying their first house or people are moving up to their second house. It's where investors are really active because

typically the purchase price to rent ratio lends itself to really good cash flow. So people are buying and selling here more than most other neighborhood profiles. This is where the action is. So if you happen to live in an area like this, fantastic. If not, just look for the closest neighborhood, the closest zip code or the county that fits this neighborhood profile. They are there. I mean, if you live in an affluent area, okay, you may have to look a city or two over, a zip code or two away. And if you have to look further than that, we can explore that on a case-by-case basis,

but this will be a rare case. So don't default to this right away, okay? Don't give up on it. There are neighborhoods that fit this profile in every market in the United States. You know where these neighborhoods are in your market. You do. If not, start asking people. Start asking people you know that also live in the same area as you.

Don't overthink this part. Just think blue collar. Think lower to mid-income. Where do the school teachers live? The firemen. The government employees. Got it? Yo.

All right. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home poor, we got the cash flow. This podcast is a part of the C-suite radio network. For more top business podcast, visit c-sweetradio.com