September 18, 2006
Investing in real estate outside of your market, a good idea?
Well, I have to tell you I had a great weekend. I spent it with my good friend Chris Cawley and a few other investors buying real estate in St. Louis.
I know the focus here at Real Estate Toolbox for the past four years has been pretty much lead generation, but I was thinking it might be time that I and other members start sharing more real estate investing ideas/strategies here at RETU. Do you like the idea or no?
Before we boarded this incredible limousine bus to tour properties we all sat down and started evaluating exactly what we already owned, what strategies we have followed in the past and set some goals for what we wanted to accomplish for the weekend. When I put the pencil to paper I realized that my personal real estate portfolio now includes over 40 rental properties, a 78 unit high end condo development that was just completed in Branson in which I sold every unit and hold the lease for the property, a commercial building and two condos in the Caribbean.
I'm in no way saying this to impress you, but I really didn't realize that once you develop a solid strategy and execute the strategy over a realistic time period, 8 years in my case, you really can accumulate wealth investing in real estate right along with building your real estate career!!
So, I had a lot of fun and thought it might be a good idea to start spending some time and resources here at Real Estate Toolbox on investing strategies that go hand in hand with what we are already doing here.
When I get home and gather my thoughts I will share more about the buying tour I went on this weekend as it was very interesting to say the least and gave me several ideas for new niches that could be developed on the selling side!
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