One of the most valuable lessons ever taught me was to be happy with whatever the market was givin’ me. In San Diego I’ve never sold a home or attached residence as a rental. Why? Since I made the transition from the traditional home market to investments, homes here have made no sense whatever.
Yet in the Phoenix market homes are pretty much the only thing makin’ any sense. 2-4 unit properties there are simply poorly located, and it’s virtually universal. Boise? You can find 1-4 units, attached, detached, whatever’s your pleasure. For years, 2-4 units in a buncha locations in San Diego were the best bet. In fact, that was true in my experience, from the mid-1970’s through the first couple years of this century.
In Texas, though I’ve seen homes that made sense, their locations haven’t risen to the bar I’ve set. 2-4 units? They rock like Elvis in his prime. So, in Texas the next single family we buy or have a client purchase, will be the first.
Don’t struggle tryin’ to make your favorite theory, model, or template fit every market. We look foolish when we strain while tryin’ to put a square peg into a round hole. Remember, almost every market gives you something. What on earth makes some investors fight that?
Besides, have you ever tried to get a square peg out of a round hole? 🙂