Invest Anywhere: 4 Benefits and 5 Challenges of Long-Distance Real Estate Investing

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.7 • 3.6K Ratings

🗓️ 6 May 2022

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

#379: Welcome to our First Friday bonus episode. Once a month, Afford Anything presents a special feature called Invest Anywhere, in which we teach our audience how to invest in real estate from thousands of miles away. We kickoff today’s episode by discussing current market conditions. Yesterday the Fed raised interest rates by another 50 basis points, which means mortgages are more expensive than they’ve been in years. Additionally, jittery investors worried about an impending recession led the stock market to its worst day of the calendar year so far. How should we interpret the current market conditions? Is this a good time to buy an investment property? We cover this in the first 20 minutes of today’s episode. Next, we discuss 5 challenges associated with investing in long-distance real estate investing: (1) fear, (2) accountability, (3) traction, (4) stress, and (5) relationships. We elaborate on each challenge and offer solutions. Finally, we discuss 4 benefits to investing out-of-state: (1) competitive ability, (2) diversification, (3) returns, and (4) repeatability. We elaborate on four types of diversification: economic, strategy, business cycle, and asset based. Enjoy! For more information, visit the show notes at https://affordanything.com/episode379 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:11.1	Every choice that you make is a trade-off against something else and that doesn't just
0:14.2	apply to your money.
0:15.4	That applies to any limited resource you need to manage, like your time, your focus,
0:19.5	your energy, your attention.
0:21.8	Saying yes to something implicitly means turning away other opportunities.
0:27.2	And that opens up two questions.
0:29.4	Number one, what's most important?
0:32.1	And number two, how do you align your decision-making around that which matters most?
0:38.6	How do you take charge of your limited resources?
0:42.9	Answering those two questions is a lifetime practice.
0:45.8	And that's what this podcast is here to explore and facilitate.
0:49.4	My name is Paula Pant.
0:50.4	I'm the host of the Affordable Care Foundation.
0:52.7	Typically, we are a weekly show.
0:55.8	And lately we've been airing episodes every Wednesday.
0:59.5	But once a month on the first Friday of the month, we air a special first Friday bonus
1:06.1	episode and these episodes are now thematic.
1:10.9	Where once a month on the first Friday of the month, we air a special presentation called
1:18.3	Invest Anywhere, dedicated to long distance real estate investing.
1:24.4	And these are co-hosted with my esteemed co-host, Sunny Rao.
1:28.9	Hi, Sunny.
	...

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