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Updated over 4 years ago on . Most recent reply

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Cary Daniel
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I am looking for good a good place to invest near Maryland

Cary Daniel
Posted

I am a new investor looking the find a good place to invest out of state near Maryland I have been stuck in analysis paralysis.

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Frank Godfrey
  • Real Estate Agent
  • Upper Marlboro, MD
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Frank Godfrey
  • Real Estate Agent
  • Upper Marlboro, MD
Replied

Here are a few questions to ask yourself to get out of analysis paralysis.
I want to apologize for this next assumption, you did mention new investor so, I am going to assume you have done no deals.

First question - What is your why? The most important question you can ever ask yourself. This is asking yourself, why am I choosing to invest? Fun hobby, cash, cashflow, retirement, freedom? What is your reason for investing? Know this!

Second Question - How much Cash do you have to invest? Based on your cash on hand, this will limit where, how and what. Where you can invest, how you can invest and what type of investment you can do. Answering this one will assist you in narrowing down your target areas and type of investing you can do without partners.

Third Question - What is your tolerance to risk assessment? Your personal tolerance to risk.  This will be learned if you do not yet know it.  

Fourth
 question - Since you asked.  What is your definition of "Good"? What does that mean to you? Or are you looking for others definition or assessment of what is a Good palace they have identified for them to invest?

 Once you get your answers to those questions the how, what and where becomes a little easier to identify. 

Then you need to find the Who.  Who is going to assist me in reaching my Why.  Who do I know that I can shadow or partner with that's doing what I want to do.  Get into relationship and run with them and learn all you can.

So, as you can see, once you know you, then others can directly assist you in answering your question.

This question is often on the board and no answer is right for everyone.  Each of us have our own mix of answers, resulting in our own way to use the investing vehicle to reach our Why.

Where will the investing vehicle take you?

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