Real estate investing is one of the oldest channels of building and creating wealth. One of the insightful and quite interesting things about real estate is that not only is it a channel through which you can use to conserve, preserve, or retain wealth, it is also a tested means of building it.
That is, it is very well known that wealthy people invest their money in real estate to conserve it. On the other hand, it is also known that people become wealthy off real estate investments.
We should however note that this is not always as easy as stated. Just as with every other forms of investing, real estate investing comes with varying degrees of risk.
For instance, you might be taking up a mortgage to acquire the property. Also, there is a lot of knowledge to gather that everything becomes quite overwhelming for new home buyers.
But this is not something to worry about too much as there are people who have been at it and have achieved resounding success. Jacques Poujade is one of them.
Jacques Poujade is a mortgage practitioner, real estate agent and expert. He is also a partner at LendPlus, a mortgage credit firm.
Jacques Poujade has committed his career to educating new home buyers on how to navigate the real estate market. In this post, he gives actionable tips and hacks on beating the teal estate investing game and becoming successful at it.
“Location is Everything”
By far one of his most profound hacks is that you should pay attention to location when considering real estate to purchase, live in or invest in. According to Jacques Poujade, location is everything.
Although we know that real estate properties generally preserve value and can provide sizeable returns wherever they are sited, the truth is that some properties do better at this than others.
What Makes for a Good Location?
Now, you might be thinking that properties in the best locations might be very expensive, or that people have already occupied all the best places, with little options left for you. You are getting all of these wrong.
For one, the best locations don’t have to be cities, where housing properties are usually multiples of the national average. If you go for properties in these places, you might actually lose money because such properties might have exhausted their potential upsides.
However, there are several places all across the country that make for attractive and rewarding investments even if they are not situated in the most popular cities.
Location in this case can refer to the state or region in which the property is situated, the city, but more importantly the locality or neighborhood. As such, a great location in say, Tennessee, is much better than a not-too-good one in say, California.
How to Select the Best Location
One good hack to help you choose great locations is to look at data. Which “untapped” or “underhyped” places have the potential for future boom? The pandemic accelerated the movement of persons out of popular states to smaller ones causing real estate to become quite active in those states. These are the places to be. When you get in early, you get to reap the rewards in the long-term.
Real estate investing can be rewarding but you have to do it right. One hack to doing so is purchasing homes in the best locations. These tips from Jacques Poujade should provide some good guide.