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Updated about 8 years ago,
Buying a property during a cold winter season
I live in the Chicagoland area, and our winters get very cold! Now, i have yet to buy my first investment property, but I am nearing that stage of readiness. My plan has been, lately, to pull the trigger on my first property early next year, when the weather starts to warm up(March/April).
Throughout all the reading and podcasts I have listened to, somewhere(I do not recall) I remember hearing/reading that buying properties in areas that have harsh winters is not the best idea. Reasons being less tenants searching for a new place to live, tougher conditions to rehab, etc.
As a new investor, am i psyching myself out and halting my investing for no sufficient reason? I would like my first investment to be a success story, and I believe it will be. But as a first timer, I do not want to put extra bottlenecks on myself and make something new even more challenging, to start out. I am thinking come new year 2017, I will be educated enough to make my first purchase, but would it be in my best interest to wait a few more months before taking action? I'd like to hear your thoughts!