Market Selection: Pros and Cons

2 Replies

Hi BP,

I hope I structure my question correctly. I'm just curious about the less obvious pros/cons of market selection. I live in Huntsville, AL and I know this area is considered a hot market right now, but beyond the obvious of increase in equity and harder market to find deals, what would be the reason to buy in Huntsville over another "less hot" market where I could potentially buy more equity and have better selection of deals I want to do?

@Scott Busby

When I select the markets I wanted to invest in; I looked at them from a business and family aspect. I can't remember the BiggerPockets podcast I heard this from, but essentially a gentleman builds a successful business but was miserable. He shifted his business to focus on multiple aspects of his life and was much happier. I choose my markets on where I plan to retire and shaped my investor career with my personal life. I would look at it from a different lens. If I invest in a different area I do not live in, how will it impact my future self or family? If your okay with the result, go for it. 


I hope this helped, 

Josh

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