"I want to buy a property nearby so I can check on it regularly." We hear this phrase far too often from newcomers to the real estate sector. But this approach can cost you valuable returns and unnecessarily limit your options.
In this article, you will find out which factors are really decisive instead, how professional management replaces personal presence and why an emotional distance from your investment is actually healthier for your portfolio.
After all, a capital investment is not a project of the heart, but an economic investment. And as with any investment: figures, data, facts > gut feeling.
It is not the distance to your home that determines the success of your property, but the economic potential of the region. These factors are decisive:
You live in Stuttgart, but find a good offer in Hamburg or Mönchengladbach. You can't just drive by, but if the figures are right there, demand is high and there is reliable local management, it makes much more sense than a "convenient" property around the corner in a stagnating town.
With this way of thinking, you expand your search radius enormously and can choose from a much larger pool of potential investments instead of restricting yourself to the limited selection in your immediate vicinity.
A well-chosen property management company will relieve you of almost all operational tasks and make your personal presence completely superfluous:
Many experienced investors do not even know their properties personally and still achieve strong returns. Why? Because they do not burden themselves with every detail, but rely on professional structures.
The costs of administration quickly pay for themselves: If you don't limit yourself to your own area, you can often find much more attractive opportunities with better entry prices, higher returns or more growth potential. The typical costs of 20-30 euros per month and unit are a sensible investment that not only saves you time, but also nerves.
A common mistake is: "I have to see the property - it's mine."
But you are an investor, not an owner-occupier. Your goal is to generate a return, and this is best achieved with a cool head and the right figures - not through emotional attachment to bricks and façades.
You don't have to like the property. You don't live in it yourself. It should work for you and help you to passively build up wealth regardless of distance.
Emotional distance makes it possible for you:
Every kilometer away from your home also creates emotional distance, which is good for your investment decisions.
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The distance to your home doesn't matter in this context, as long as you are professionally set up.
With this mindset and a focus on the right economic metrics, you will not only make better investment decisions, but also build a more diversified portfolio that is less susceptible to local market fluctuations.
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