The Power of Investing in What you Know
Perhaps the greatest error a real estate buyer can make is to purchase a property in a city or state where he has no contacts or no history of any kind. This situation, which is easily avoidable, too often becomes an unavoidable problem — a financial albatross — because of ignorance by one party and possible indifference by another.
Put another way, when you invest in commercial or residential real estate — when you become the new owner of a rental building or a house in an otherwise strange (to you) locale — expect more problems than prosperity. Read On