The new Global economy has brought with it many lifestyle real estate investors. As an old school investor looking first for capital growth and second for cash flow, I was not even considering the lifestyle end of it.
Having worked with real estate investors for the past 15 plus years, I have learned that many people have lifestyle as their number one objective. This has surfaced as buying real estate far from your home has become much easier and more desirable. Many of you invest in second homes and may be looking for a place to come visit while the real estate market appreciates in value.
Your first objective as a lifestyle investor is to be located in an area that can provide you your desired lifestyle.
- Water front communities for fishing, boating, skiing and water sports
- Golf course communities for (of course) golfing
- Mountain communities for those panoramic views, hiking, horseback riding etc.
The lifestyle real estate investor wants, first and foremost, to have an investment where they can enjoy their lifestyle enjoyments. As the purchase relates to investment, your second objective typically is the capital growth potential. To obtain a lifestyle investment with a good solid chance for the best capital growth you will want to read the previous post on capital growth investing.
Florida is a great example of a lifestyles investment location. About one third of the properties sold in Florida are sold to overseas investors. They can get their lifestyles accomplished in Florida for cheaper than most other areas, which makes it a prime target for you lifestyle investors!
So, as you narrow your locations down to areas like the US and then to a state like Florida, where then will you want to invest within the state? First, you will want to narrow it down to markets within a state that provides your lifestyle and then cross reference those areas with the attributes of a capitol growth investor. If you plan on renting your investment out for cash flow while you are away, you will want to check out the attributes of the cash flow investor.
As you can see, whether you are investing for cash flow, capital growth or are a lifestyle investor, the purposeful real estate investor has many avenues to help insure they are securing the best investment and it all boils down to one common theme: location, location, location.