Do I need to make my 1st investment in my area?

[Derik S.]

The reason I ask is because I was listening to one of the podcasts here, and one of the guests said though he was from Southern California, his first investment was in Texas. So, though Denver is hot right now, would it hurt to look in Tucson, Dallas, San Antonio, and of the like (whatever other cities are steaming right now). If there's one more way to put the question, should I stay landlocked in Colorado? I would hope not, because that would only be limiting my potential. I think I should go where the deals go. 

Secondly, this is separate from the original question, but do I really need a business plan? I listened to the podcast with Grant Cardone, and he said something that seems to make sense. "Use a business plan if you want comfort," and "Most of what happens will not be in your business plan." I'm pretty apt to taking that advice from someone who has a $350 million dollar RE empire. I'm gonna be taking notes on this.