Generally I advice you, don’t invest outside your community . Until and unless there are some unusual circumstances, You obviously shouldn’t try to be an expert in somebody else’s back yard. Don’t make that mistake If the terms of your deal do not leave a 10 per cent cash-flow cushion .Don’t give a chance to your buyer to enjoy 15 per cent cushion . The most common reasons for most FSBO (For Sale By Owner) failures are overpricing the property and since most buyers work with real estate agents, potential clients may not see your property. Your chances of success in real estate investing decrease as you move away from your own community to other parts of the city, and they drop off drastically when you compete with the local experts in another city or area.You know why the public realty companies failed ? what is the reason behind all this? It was because the drubbing they received from the “local Yokels”, because when the post came to buy properties fro their public portfolios,invariably the local owners knew more than the outsiders. So he doesn’t take advantage of you. Investing in your own community is noth only a good investment but also good for your community. First of all you should know who you are marketing to: Take an honest assessment of your home and determine who is most likely to be your buyer. Is it an investor, first-time homeowner, executive, or empty-nester? Once you have pinned down the buyer, market to them heavily.
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