Your Call – Want a Local $10 Or An Outa Town $20? The Facts

This is a question taken from the old story of buying in an upcoming but previously ‘grungy’ area compared with buying in the tried and true ‘clean’ locations. I’d ask my client, “Would you rather have a clean $10 or a dirty $20?” Most, if not 90% said they’d rather have the dirty $20 of course.

It amazes me how many times investors opt for local properties when they have empirical evidence showing they’ll do way better in a region a state or two away. It just doesn’t make sense. This is especially true when technology keeps us so informed, usually in real time. Living in Iowa and investing in another state isn’t anything like it was 30 years ago. Back then an investor had the phone and snail mail.

BawldGuy Axiom: The most apathetic player in any Purposeful Plan for retirement is your capital. It cares not how, why, or where you use it.

Today an Atlanta based investor can own several small properties in Boise, Dallas/Fort Worth, Kansas City, pretty much wherever, and with email, faxes/scanning, and websites be very well informed in almost real time. Pictures can be sent, conferences with management can be held, and decisions can be made while you’re on the 12th tee for Heaven’s sake.

Don’t let your equity stagnate in a local market just because you feel so comfortable. Your money doesn’t know where it is. It doesn’t get cold or lonely. What it does is grow or stagnate. If you’re in a region giving you a lot of nothing right now (and the foreseeable future) give serious thought to getting your equity outa Dodge and into a more stable, growing region. Whether you’re growing or not you keep having birthdays, right? Right.

Now, I ask again. Do you want a local $10 or a far away $20? The money doesn’t care. Your retirement does. Call me and let’s talk about your retirement — 619 889-7100. Have a good one.

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