Thanks for joining us on another Real Estate Today podcast. Right now we’re going to talk about chasing the best opportunity.
Bob Nelson: I’m Bob Nelson, Eugene Commercial Real Estate Investment Broker with Pacwest Real Estate Investments.
Marcia Edwards: I’m Marcia Edwards, Residential Broker with Windermere Real Estate. Let’s talk to you buyers out there. You’re going to buy your next property. How will you know the good opportunity when you see it? What will be the things that set that property apart? I think it’s what you like and enjoy for a living, but it may also be a conversation about will it be resalable when you go to sell?
Bob Nelson: From my standpoint, which is in real estate investments, first of all, solidify on the geographic area. Are you wide open? Would you take a property in Tennessee, Southern California? Probably staying within the United States, I would guess, because it’s really edgy buying something out of the country, Mexico, Canada, maybe less so, but you never know, an unstable government could take you over and they went your wealth.
Marcia Edwards: Wow, that’s really global compared to where I was thinking, San [crosstalk 00:00:55]
Bob Nelson: I look at things for some global investors.
Marcia Edwards: You have a different perspective, that’s for sure. Well, in looking at having more than one opportunity, I feal a lot of buyers are very superficial. It’s shiny, and I’m drawn toward it.
Bob Nelson: Yes, yeah, trophy hunters.
Marcia Edwards: Yeah, and they’re of such varying degrees of quality in construction and longevity of that location and that particular build. So there’s a lot more to it when you got choices.
Bob Nelson: Exactly, and a lot of stuff around here is wood frame, and wood frame is subject to what, dry rot, termites, a few things like that, not with a brand new one, but certainly with some stuff that’s a little older and a lot of times, older stuff has the really good locations.
Marcia Edwards: Things can grab you. For example, I had a couple with a small child, looking for a three bedroom home, and putting a home office in the third bedroom. They found a house that had incredible views, it was in the Hendrick’s Park area, beautiful views. It was two bedroom and carport, no garage, and they started to compromise and head that direction, and then, in talking to them how do you live every day? Do you live every day looking at a view, or do you live every day and moving in that house? So you’ve gotta make sure that you’re not distracted by the squirrel that passes buy, when you’ve gotta focus of a long-term hold.
Bob Nelson: Yes, this is so true. As an investor, you’re really focused on what benefits are you after, and what benefits does this property have the capacity to deliver? Cash flow, tax shelter, principal reduction, and appreciation in value. What’s your most important, because they’re not all the same.
Marcia Edwards: I’m Marcia Edwards, Windermere Real Estate.
Bob Nelson: And I’m Bob Nelson, Eugene Commercial Real Estate Investment Broker with Pacwest Real Estate Investments.
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