Defining Your Target Area-Where Do You Want To Work?

Posted: August 5, 2011 in Target Area

Ask yourself these questions to find your target area. Don’t just go out there and tell yourself that you will go wherever you can find a deal. Many new RE Investors do this and end up spending more time than is necessary to find a deal. You, however, will be different from the usual newbie RE Investor. You will focus on one area, your target area, and be the best Wholesale RE Investor in your target area. If you don’t focus on a target area you will end up spending so much time and energy driving and learning a new area that you will probably get burnt out and quit. Getting burnt out and quitting is not where we want to end up, so focus.

Your target area is usually within a 7-10 mile radius of where you live. You want to start with where you live because you probably already know the area, the side streets, good areas and bad. Starting where you live as opposed to wherever a deal is will shorten the learning curve and the quicker you learn the sooner you start making some money!

Get a zip code map (http://www.usnaviguide.com/) and find 3 to 5 zip codes around where you live. Print the map out and draw a circle around the zip codes you chose. This is your target area, it is in your backyard, you probably already know most of the areas. Now, it is your job to drive those streets and really get to know the area. You want to know the street names, know which areas are good and which areas are bad, know different tracts, etc. Next time you are driving to the grocery store, work, the bank take your time and look around at what the areas are like. Look for old and ugly houses. Take a different route home. Maybe even get lost. Just get to know your area better than anyone else. Be the ultimate authority when it comes to your target area.

What kind of houses are on each block? Are they stucco, wood, craftsman, bungalow’s, one-story, two-story. Is the landscape desert, gravel, rock, grass, large trees, fences? Do they have driveway’s garages, street parking, alley access? Are they mostly single family homes or are there some duplexes and triplexes? Are there any large apartment buildings near the homes?

These are many questions you will need to start asking yourself. Take the time to recognize what you are surrounded by, slow down a bit and take the time to learn where your business will be operating. This is your business and you need to take it seriously if you want to succeed.

Don’t forget to keep your gas receipts or log your miles. You now have a write off for your taxes. (Please note: I am not a tax advisor or CPA and this book is not intended to render any legal or accounting advice. Please consult a competent professional).

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