Real Estate Investing: It's Not Location, Location, Location; It's Situation, Situation, Situation

Real Estate Investing: It's Not Location, Location, Location; It's Situation, Situation, Situation

We've all heard the real estate axiom: location, location, location. In the real estate investing biz it's really situation, situation, situation.

Situation is the combination of:
the right timing

the right location

the right capabilities

There's an example in every town: a decent commercial building on a busy street corner with easy access and good parking. It's a decent building but it's usually vacant. If a new business moves in, it's gone within a year. Down the street from my last house was a property that held several businesses, including a specialty bakery. The bakery didn't last because it wasn't an upscale location. Next, a neighborhood diner moved in. It's doing great business because the owner had the resources to rehab the building and run a restaurant - and he chose an appropriate location. That's the right situation.

In multifamily investing, situation is the combination of:

the right location: Are you investing in 
the path of progress 
     or 
declining neighborhoods?

the right timing: Are you investing in markets in: 
recovery & expansion 
     or 
contraction & recession

the right capabilities: Do you have: 
strong skills & knowledge; a professional team; financial reserves 
     or 
insufficient skills & experience; a go-it-alone plan; no financial reserves

Patrick Leblanc - EzineArticles Expert Author

Patrick Leblanc is the president of Reflex Investors Inc. and has been investing in real estate since 1991. Reflex Investors buys multifamily properties by offering investors a fixed 10% return in private mortgage notes. Patrick can be reached at http://www.Reflex-Investors.com and http://www.Solid-Return.com

Reflex Investors Inc. is a Massachusetts-based real estate services company. Acquiring investment property in high value markets across the U.S. Reflex offers no hassle, no headaches, real estate investing opportunities.