Wow! What a weekend in Chicago. It’s now 2:15am Monday morning and I just got home. Craig will get home in about 30 minutes.
I just had to share with you some great news. We just spent three days in Chicago at the Donald Trump / Learning Annex Real Estate Expo and had a blast. We learned a lot too. The biggest item of interest for you is the unquenchable thirst for property in Indianapolis that became a common theme for many people that we spoke to. This confirms the fact that you have made a good choice in location for your property investment.
Craig and I got to meet Donald Trump, Tony Robbins & Joe Vitale(The Secret). Additionally, Alan Greenspan made an appearance as well as George Foreman, Dr. Albert Lowry(The godfather of real estate investing) and Than Merrill from A&E’s Flip This House. A few others you may have heard of, Robert Shemin, David Lindahl & James Smith. There were over 30 speakers total.
The overall appreciation for the Indianapolis market really caught us by surprise. I know you are smart enough to already have purchased your property in Indy–way ahead of the curve I believe. From the actions and reactions I saw this past weekend Indianapolis will continue to be a great place to buy with property appreciation almost guaranteed.
From my point of view I currently recommend continued buying in the Indianapolis market for the next six months–the next three are optimum. I say three months because this will allow you to close and take possession of your home at the beginning of spring, which is the best time of the year to market properties around here. When I say best I mean that rental amounts are the highest and vacancy rates are the shortest.
What gives me my current optimism? What is the impetus of my recommendation? If you ever invest in the stock market one of the rules of profit is to follow the smart money. In this weekend alone I personally met three groups that plan to invest $50 Million to $200 Million in the Indianpolis area. What does this mean for you? You are a smart investor, you already know what this means–this means that additional purchases will secure the growth and appreciations of your properties. The more you own in Indianapolis, the more your investment will grow.
There has been a lot of talk lately about the Go Zone investment areas in North America. Sounds great on the surface–the first two years will provide great benefits, but tell me this. What happens ‘If’ these areas are over built? Any market frenzy brings about opportunity, but for security you need continuity. Indianapolis has continuity–do the go zone areas have stability? Remember the gold rush in the 1800’s?(If you do personally, I’ll buy you lunch.) The gold rush sounded great. It sounded like opportunity for the masses but the reality of it was that only 10% of these speculators actually made a good profit. Many died of hunger or were taken advantage of by opportunists who exploited the situation. Don’t let this GoZone frenzy cause you to make poor decisions and cost you a fortune.
Alan Greenspan spoke of irrational exhuberance in the stock market in the late 1990’s. On CNN last week he spoke of this phenomenon in the real estate market. Just because everyone else is doing it, doesn’t make it right–or safe–or secure–or legal, etc. I firmly believe that Indianapolis is ‘THE’ best place in America to invest. Or course I’m biased, I live her and have for 40 years. But the reality of my geographic location has actually caused me to ‘Not see the forest for the trees.’ I didn’t realize how good an investment Indianapolis truly is until about the fifth or sixth national article that told how great a place Indianpolis is to invest. CnnMoney, Business 2.0, USA Today, Moody’s Investor Service, etc., etc., etc. Just like the 1970’s song, “I can see clearly now, the rain is gone”, that is how I feel right now and the Chicago Real Estate Expo had 50,000 attendees who heard and read the same articles and predictions.
Bottom line–Congratulations on being at the forefront of those who saw Indianapolis as the best place to invest. I’ll leave you now with a quote from one of my all time favorite investors, Warren Buffet. “Put all your eggs in one basket–just watch that basket real close.”