Invest in Economically Sound Locations
If you are a serious real estate investor, you need to make sure to invest in economically sound locations. While doing research into the the top emerging real estate markets, I found this to interesting article titled "American Cities that are going broke". The interesting aspect of this article is that at least one of these cities makes many headlines as a top place to invest in. Which begs the questions, Should you indeed invest in property that is located in a city that is going broke? What are the outcomes going to be?
I am “the Glass is half full” kind of guy who believes in opportunity and possibilities; I am also a realist who understands that a great investment should be backed with sound and logical analysis behind it.
Decent rent rates and low price investment does not necessarily make a great investment. Now, I am not about taking the thunder out of, or putting negative news towards a city that is trying to rebound such as one of the cities in this article (in fact I will not even mention the city by name because it is not the right thing to do).
As the eternal optimist, I am always looking for positive news as there is too much negative press out there painting doom and gloom and I believe the opposite is true. We are in a time of massive opportunity and there is no gloom for the forward moving thinkers who know that we are in an unprecedented time to shine, to grow and create prosperity for our families. It is time to finally take control of our destiny and create wealth for our families.
So, I can only say to this article (read it) it gives good insight as to many of the topics I continually discuss. Reading these articles are sad for the cities they pertain to, we have learned through history however that for everything bad that happens, a new and informative invention or way to succeed comes out of the lessons from the bad events. These articles can help to educate us as to what to watch for within the locations we invest in. It helps us to always ask ourselves, is the investment I am about to make truly in the best location to sustain the investment outcome I am in search of.
For the seasoned investor looking to invest in economically sound locations, a thriving local economy with job growth and a city with plans in place to move forward in an economically sound direction are paramount in any investment.