If you’ve been following investors online, you’ve probably heard “location, location, location” thousands of times. They all say location is the most important factor in your real estate investing career but what does that really mean?
In this video, I am telling you what location really means to your real estate investing business and the 5 factors that make the perfect location so you will know how to find it!
Key Talking Points of the Episode
[00:00] Introduction
[01:08] Population Growth
[01:28] Rent Values and Growth
[02:14] Median Home Prices
[03:03] Crime Rates
[03:45] Job and Income Trends
Quotables
“I’ve learned a thing or two about location the hard way. And the problem was, I couldn’t find a formula that could show me what’s a good location and what’s a bad location.”
“What you wanna find out about population growth is since 2010, what has the population growth been in that county?”
“You wanna see population growth of 3% or more in that specific area where you wanna buy that property.”
“The goal for this is you want to see what the rent values are in that location and that neighborhood to see if you rent it out, will it pay for your mortgage, your insurance, and your taxes, and leave you a little bit of cash flow.”
“You’ll never know what doomsday scenario you’re in and you wanna make sure you’re covered!”
“The goal is that you wanna see that the median home prices are going up 5% year after year after year.”
“Typically, I don’t love to buy properties based on appreciation. I like it for cash flow but if you’re gonna buy a home for you to live in, it’s important that you know that appreciation is almost gonna serve as your cash flow over time, it’s just in the form of equity.”
“You want the crime rate to be 4 or below per thousand residents.”
“The more jobs a city creates, typically, the more income the city makes.”
“You wanna make sure that there’s a job gain of at least 4% in that city every year.”
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