In our ongoing efforts with investors from other parts of the country (actually, I'm going to cease classifying buyers by locale, an investor is an investor) we often find ourselves having to explain the geographic nuances of the market. This is a hard thing to do.
Unless they book a flight.
In fact, we have found that those investors who physically know the market, who have driven around seeing properties, are the ones who act the most intelligently when it comes time for that first purchase. Take Brad Dufour of Boston, MA, for example. We asked Brad for a few words on why he chose the Triangle for his first multi-family investment property after he purchased a quad we had listed on Spice Ridge Lane in west Raleigh. We were surprised (and grateful) by his response, which follows this post.
If you're a first time investor, read what Mr. Dufour writes above, and emulate it.
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