When we as real estate investors turn our eyes to a new region to invest in, it’s important for us to investigate the area. After all, we’re putting a lot of time, energy and capital towards real estate investing — shouldn’t we know what we’re getting into?
At Memphis Invest, when we looked to open a new market, Dallas was the no-brainer market for our company. We were highly familiar with the state of Texas and the positives that went beyond just "real estate" were readily apparent. The state was growing in both poulation and jobs. The MIMI Index from Freddie Mac was super strong indicating some of the top markets were in Texas. Both Dallas and Houston were showing up as markets set to explode in investor activity. Look like we were right. BUt we had one other reason.
Nothing beats the knowledge that comes from actually living there. Our family was raised in Texas and if you ask me, I still claim to be a Texan even though I operate out of Memphis, TN. There is something about having intimate knowledge of markets that make for smart investing. However, that doesn’t mean investors need to be in the dark when it comes to remote investing. It just means you have to be smart about who you listen to!