Can I Expand Into Other Cities?
Sometimes students ask me if they should expand their real estate investing into other cities. Maybe they’re not getting the response that they’d prefer, or they live in a really small town. Normally, I tell them to do their best to try to stick to their own location if they live in a decent sized city. This makes some things much easier, like getting to be able to meet that person at their home for an appointment.
However, in some instances, you can expand into neighboring cities and have some success. This will depend on how much driving you are comfortable with because you’re going to want to see the home and neighborhood before making your decision to put the deal together or not. Now, you could go forward with a deal if you already know the area and particular neighborhood. You can view pictures and pull comps, but this probably isn’t something you’re going to want to do all the time.
Master Your Communication Skills
Much of the time, for those who are wanting to expand into other cities, the reason they want to is because they’re not getting the conversion rate they desire in their own city. The thing about this is that you can get better at your communication and negotiating skills and increase that conversion rate. As you get better at talking to people on the phone, you’ll get better at navigating deals and putting them together.
You can also make some changes to your marketing strategy if you’re not getting the amount of leads that are serving you well. You might have to study the marketing aspects of my course again or put a bit more time into a particular niche. Sometimes it’s something little that you can do to increase your deals, rather than have to expand into other cities.
Another great tool that my students use to increase the number of deals they close on is my Profitgrabber system, which is a strategic system that automates your real estate marketing strategy. This system includes everything you need to get started and succeed in your local city as an REI. This tool is the one tool you can’t do without as you move forward as a real estate investor using my Niche2Wealth strategy.
Expanding your business to another city is possible if you’re willing to make the drive to that city or if you already know that city very well. But before making that move, do all you can to market and put deals together in your local city. If you’re not getting the leads you desire, look at your marketing strategy and make some changes there. Go through my courses again and see if you’re missing something. Get on the member telecalls and ask questions. Chances are whatever it is you’re dealing with someone else has too, so don’t be afraid to reach out.