How local is real estate? I couldn't believe my eye

[Tan Mehedi]

I know real estate is local. Question is how local ? Here is a story, I am a new investor from atlanta,ga. I found a awesome (Brandon turner word) deal in Macon, ga ( within 2 hours rule) . Everything looked great online ( national car dealership, red lobster, Olive Garden etc). I decided to do a road trip with the family to see the house and neighborhood last Friday because the seller said someone will close the house on Saturday and if I pay little more he will sell it to me. I got off the highway to a major road . This major road has big car dealerships, nice restaurants ( I was happy) . I was in front of a big national car dealership and my gps says I am only 0.1 miles away from the home ( I was excited) . But as soon as I took a turn from the main road to a small road next to the dealership I felt like I was in a different world. Lots of houses are boarded up, people are walking on the street shirtless only few hundred feet from the nice road. I didn't know real estate could be that local ( real estate books doesn't teach you that). Word of advice to any out of state ( or long distance)real estate investors , ALWAYS go visit the house and neighborhood.