Kinda Isolated!

[tmortimer]

Hello again!



Another question off of the top of my head.



I live in a very, very isolated community (3hr. plane ride North of Vancouver, BC), but I definitely want to develop a real estate investment business.



Is isolation a factor, or is there a way around it?



I'm new, if anybody's wondering. lol



Thanks!

 

[Thomas Beyer]

[quote user=tmortimer]Is isolation a factor, or is there a way around it?


You have to become an expert in an area. Some work can be done remotely, but much has to be done ON THE GROUND. So, if you wish to invest in Surrey, BC or Edmonton, AB or Saskatoon, SK, for example, then you have to spend some time there .. initially a lot .. and later every so often.



These travel costs (both time & money) have to be factored into your investment analysis, and may require a larger investment to make it efficient to allow for 4 trips / year, for example !

 

[bizaro86]

Or invest in your local area, depending obviously on the fundamentals of that area. Could it be set to boom with a new mine or plant? That would be the type of information you'd need to know.



Disadvantages would be a potential lack of service providers with experience dealing w/ investors (property management, accountant, etc)



Advantages would be a lack of travel expenses, as well as a potential lack of competition, which might allow for more profits on any given deal.



Regards,



Michael