I’ve become very interested in how some people are so comfortable risking everything and others will play it safe no matter what.
I was speaking with a friend the other day regarding real estate investing. We were talking about where a great place to buy inventment property would be. Over the course of the conversation I mentioned that I was recently enjoying the show Flipping Out which follows the life of a Los Angeles real estate investor named Jeff Lewis (excellent name I must admit.)
I said that I was getting motivated by the show because it made me want to get out there and throw my money into more creative real estate. My friend said that although he loved the idea of investing in real estate, he would prefer to have it closer to home so he could get there quickly in case of emergency.
I like the idea but I also feel that a lot of great investment opportunities are outside of my area. Exploring places that may require a flight rather than a drive could lead to huge equity growth.
I guess it comes down to what I am ready to take on. If I choose a proper property manager it should be very easy to manage from afar; however, there is always the potential for disaster!
Maybe I’ll fall out somewhere in the middle: invest in property away from home but in places that I can visit with less than 4 hours notice and with a flight less than $500!
Is it time to make way for a new RSS?