Intelligent Investor - Philosophy

[Walter Parker]

If you're a good investor you can invest in any market at any time. Thoughts?

[Chris Seveney]

Quote from @Cameron Tope:

No - it's all about leveraging your competitive advantage to get outsized returns. 

Most folks barely have an advantage in their own market - let alone other markets. 

 I agree. For me, what defines a good investor is one who has deep knowledge and understanding. They understand the risks involved and have the knowledge and team to navigate through that. This is not to say you cannot invest in other markets, but go try and build or own a multifamily building in boston, compared to miami compared to california. Very very different tenants, costs to operate and jurisdictional issues.  You have code enforcement issue in one of those cities and they do not know you, your life is not going to be easy meanwhile the person who has been there for 10 years and knows the inspectors families name will have a very different outcome than yours.