Investing has always been a popular way to grow wealth, with investors seeking opportunities beyond their local markets. The world is becoming more interconnected and investors are no longer limited by geographic boundaries. Investing outside your local market can bring a host of benefits, including diversification, access to new markets and industries, and the potential for higher returns. In this blog post, we will explore some of the top reasons to invest outside your local market, and why it is an essential consideration for any investor looking to grow their portfolio. Whether you are a seasoned investor or just starting out, listen in to discover why investing beyond your local area may be the smartest move you make.
Get ready to build & share the wealth, let's dive in.
Episode timeline:
[00:00 - 02:52]
• Welcome to the Quiet Wealth Podcast.
• Why I explored multiple market investments?
• How does investing across state lines allow you to align your real estate portfolio to your long-term investing goals?
[02:54 - 03:36]
• 1. Removing emotion.
- Eliminate personal biases, convenience, and emotions, all of which are highly likely to cloud your vision when you're searching for a local investment opportunity.
[03:38 - 04:37]
• 2. Increasing flexibility.
- If you constrain yourself to invest locally, you're barred from other options in markets that represent the ideal mix of investing criteria.
[04:40 - 05:18]
• 3. Building your team
- There's no way you can do everything from. Thousands of miles away no matter how diligent and capable you think you are. Building a great team is a skill and so is learning to leverage and rely on that team.
[05:20 - 06:39]
• 4. Diversifying your portfolio
- A local-only strategy, it leaves room for little to no diversification, and it could be pretty devastating to your investments if any type of natural disaster occurs.
[06:41 - 07:44]
• 5. Focusing your intentions.
- when you invest outside of your local area, you're automatically protected from just stumbling on investment and getting the great feeling during a tour or buying into some real estate out of convenience.
[07:46 - 10:07]
• Bonus TIP!
• Join the Investor Crew.
• See you on the next episode.
Build Wealth | Create Impact | Leave A Legacy
Episode Highlight: " Every real estate investor should explore options outside their local area, either exclusively or in addition to your local real estate deals. I mean, investing money is already an emotional endeavor, but by investing out of state, you can be more deliberate and intentional about meeting your personal finance goals." - Camilla Jeffs
Are you ready to try passive investing in real estate? Get access to my FREE Passive Investing Masterclass!
https://steadystreaminvestments.com/masterclass/
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Are you ready to try passive investing in real estate? Get access to my FREE Passive Investing Masterclass!
https://steadystreaminvestments.com/masterclass/
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