Real Estate Investing
Location, Location, Location!
As part of my job as an editor for a retailing magazine, I got to attend booksellers’ conventions across the country. I learned a lot about the bookselling retail business, and one of the most important things I came away with at every seminar was summed up in three words: “Location, location, location!” In fact, the location of your store was 75 percent of how successful your business would be.
What are things to look for when searching for investment property? Renovations. Are there major renovations going on in the area? Are any planned for the future? This could be a good thing or a bad thing. Road renovations can deter a successful sale or rental of the property. However, major upgrades – like what Altamonte Springs did with Uptown Altamonte (a complete overhaul of a small park area with stores and ongoing park activities) – can appreciate the value of surrounding properties.
Check the schools in the area. Are they rated “A” or “Blue Ribbon” schools? An “A” school rating means the students are high achievers. A “Blue Ribbon” given to a school acknowledges that it is an outstanding school.