Invest in What & Where You Know
As a Hard Money Lender, it is always a red flag to us when borrowers are trying to invest in many different property types or in markets all across the country. This usually indicates that the investor does not have a clear strategy and does not have much going on.
Stick to what and where you know. Invest in one or two property types that you understand and in an area that you know well. Master a property type. Become an expert in your local market. As you grow, you can branch out and take on different opportunities. Build your business around your core niche.
In this video, Chris and I discuss the importance of investing in what you know and where you know.