The best real estate properties are NOT in your backyard!
The problem with purchasing properties in your own neighborhood is that the ROI is likely not optimal. Since I reside in New Jersey, you might assume that I run my real estate business out of my home state. However, I would never purchase properties in New Jersey!
The properties here are astronomically expensive. The property taxes are incredibly high, and it takes a lot of time and money to rehab an even remotely affordable home.
Additionally, these properties aren’t worthwhile as the return on investment is low. I can’t build a successful business without a certain ROI. After all, breaking even is not a good investment.
The best markets in the country are located in the Midwest. Sound scary? It’s not. It’s worth it to break outside of your comfort zone and start earning a passive income. This is how skilled investors become wealthy through real estate.
If you want to start building a passive income, you have to go where you’ll earn the highest return on investment. You’ll have to leave your comfort zone, and look for properties in different markets.
