Location, Location, Location!
There is a common saying among real estate professionals and investors which is just the word “location” repeated three times. The thinking behind this is that, when it comes to making money in the world of real estate, the most eminent thing is where the house is located. The second most important thing is, also, where the house is located. This is also the third most important thing. Clearly, location is important when it comes to accomplishing a fortune with real estate investments.
Of course, most investors already understand that, so why does the business make such a big issue about location? It’s like making a big issue out of breathing, isn’t it? Well, not quite, because many investors do not apprehend just how important location is, how fine the margin are and how big the difference can be between two properties which are in plain sight of one another. It’s not all about what city the property is in, it’s about what street, the particular position within that street, and whats in the immediate area.
It may be tempting when paying attention to a companion talking about the great deal they got on a house in a certain area, to think “well, I know for a fact that there is another house up for sale there – I can buy it for that price and raise for a heavy profit”. This may not actually be the conditions at all. The position of a school, transportation, shopping area or bend in the road can have a clear-cut effect on what you can assume to pay and what you can hope to receive for any real estate – so do your research.
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