Hi everyone, this is Mike Wolf again, coming to you from a cruise ship in the Baltic and I am standing in their casino. Today, I’m going to tell you why you should not gamble with your money and why Atlanta is the best place to buy Real Estate in the year 2018.
First and foremost, I look for three main things when I’m picking markets. The first one is, I want to know if it is landlord friendly or tenant friendly. What I mean by that is if you invest in a place like California, it can take you a year or sometimes longer to get rid of a bad tenant if they know how to work the system, because the government is very tenant friendly. When you are in a place where it’s very tenant friendly, people know how to work the system so they can take advantage of you by living in your home for free. I don’t know about you, but I can’t make a living if I own a revenue property and I’ve got no revenue coming in and I have expenses such as property taxes as well as insurance to pay every single year and maybe a mortgage payment. That’s the number one thing I’m looking at in Atlanta, we typically can get rid of a bad tenant usually in about three weeks or so, if they work the system, but if they don’t know how to work the system, they’ll be gone sooner than that because Atlanta is landlord and business friendly.
Atlanta is one of the biggest Fortune 500 cities there is; it attracts a lot of businesses because the government is extremely business friendly and they give a lot of incentives for businesses to open their offices there. As an example, Ted Office, Coca-Cola, Turner Broadcasting, Home Depot, Delta Airlines, the list goes on and on and on. Something that’s really exciting right now is that Amazon is looking to build a second headquarters somewhere and a lot of analysts believe it’s going to be in Atlanta for those reasons that I just mentioned. Because the government is very business friendly and they give tax incentives. Where do you want to start your business? Where you are going to pay a lot of tax or where you are not? Of course, you are not going to go somewhere where it’s not advantageous to you, and surely not the place where you’re going to give up all your money to the government.
The second thing that I look at when I’m picking a market is the chances of us seeing some appreciation in the near mid-term or what’s the likelihood of that? Those factors that bring about appreciation include population growth and job creation. That is to say, what brings about population growth include job creation because people will move to the place where there’s availability of work. If you work in cities that are shrinking in the population a lot of people, say “Oh! Why don’t the greats invest in Detroit?” Because the homes are so cheap there. Well, they are cheap for a reason, and that is because everybody is leaving. And a lot of people are moving because there is no employment, so it needs to reinvent itself. To be honest, a lot of negativities are happening there which make me not want to invest there. You want to go in the path of progress, where people are moving to because that’s going to cause the home prices to go up. That’s how you create true wealth in Real Estate. That’s precisely what Mike Wolf Mastery helps investors do, we help people create true wealth in Real Estate.
The third thing I look at when I’m picking a market is the level of cash-flow. While I’m waiting for this big spike in prices, waiting for the prices to go up I want to have money coming in; I need cash-flow to support my investment and myself. Create a lifestyle for myself where I can travel and hang out with my family.
Hopefully, you could create enough passive income where you don’t have to go to a job and trade your time for money anymore because that’s the goal. In this year, it is advisable to invest in Atlanta because of those three factors that I have mentioned above. You have this excitement about Amazon potentially moving their headquarters there; if that happens, we’re very likely to see rent going up. In other words, we are very likely to see home prices going up, and that’s how you create wealth. Get into the market before they make that announcement and then you will benefit. But if you go and try to compete against all the people that are going to try and jump at the market after the announcement is made, you are going to be paying a premium for those properties, and you’re going to miss the boat.
If you found this helpful, I suggest you check out my free passive income master class. It teaches a whole bunch of stuff on where to invest, how to do it the easy way, and how my team or I can help you to do them safely. Click on the link in the description below that will take you there. Also, make sure you subscribe to my YouTube channel where you can get all my latest videos. Share it with your friends so that they can also benefit from it and please like the videos and comment, and if you have any questions, put it in the comments below. Once again I’m Mike Wolf thank you for tuning in, I look forward to seeing you soon.
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