The first thing you have to do is choose your market. If you’re flipping, consider looking for the location closest to you that has a population of at least 100,000 people. (Bigger market = more opportunity.) This is considered your local market . Another option is remote investing , which could theoretically be anywhere. However, be sure to choose someplace that’s not only familiar to you, but also a place to which you feel emotionally attached. This might surprise you, as most people have been told that emotions should stay out of these kinds of decisions. I don’t disagree when it comes down to the details, like which specific property to buy, what to fix up, etc. Ask your accountant if your travel expenses are tax deductible if you have to head to Ft Lauderdale to check on and work on your apartment buildings.
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