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Source locally, or source afar?


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Hi all,

I'm looking at starting off in property by sourcing. The theory is that I'll be wanting to source my own deals anyway, so while I'm building cash reserves I'll learn how to find and negotiate deals (and it will help in building the cash reserve).

My chosen area of eventual investment is about 1hr drive from where I live. So my question is: should I start sourcing in my local area, or in my chosen investment area? I didn't grow up where I currently live so I'm lucky that pre-existing area knowledge is not a factor :)

Pros for local:
- less travel time
- will be able to view more properties
- will make it easier to connect with investors

Pros for afar:
- will build local knowledge in my actual investment area
- can carry over connections from sourcing into my own investments

What do you think?

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