House Money Weekly
In this week’s episode, Lauren and Alan get together with their special guest, Matt, the RV Park Guy. For the House Money Weekly segment, they discuss blog 138, 3 Must Haves for Every Investor Buy Box. Whenever Alan buys a property, he likes to narrow the scope. The more narrow the scope then the more you have a very clear buy box. The 1st must-have is a growing population. You want people moving into the area because you have more demand for rental properties. Lauren shares that for short-term rentals, especially for one of them, people go there because of the small town vibes. Matt's RV Parks are in tiny little villages with no population that's why they have to evaluate if it is a place that people can get to easily or if it is a desirable place to go. The 2nd must-have is a diverse economy. Atlanta is one of Alan's favorite places because of the huge healthcare population, the growing startup population and Atlanta has all different industries that even if you leave Atlanta while working in one of the industries there, you can probably still keep your job and find a new one in a different city. Lauren's apartment building is an island of 700 and it doubles in the winter. The 3rd must-have (according to Alan) is a two-hour drive to an airport. Alan likes this idea because most people are willing to do a two-hour drive to a major airport as part of their travel and an airport is typically where universities are built around and where new headquarters are going to be built so it will be a safe spot for new investors to invest in a property. Lauren agrees more that being within 2 hours of a large city (with an airport) is important to her. Matt’s rule of thumb is 3 hours.
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