Diversifying your market/investments
I’m sure that by now you may have spoken with either an accountant, stock broker, or even had conversations with someone who gets involved heavily in where they allocate their hard earned money. If you haven’t, that’s ok, it will be one reason you’re reading this email. I have done some work working in a “public relations firm” pushing stocks like they do in Boiler Room or Wolf of Wall Street, so for months all I did was talk to stock brokers. I always perk up when I see similar trends across the board in a profession that I am not in. One of the things that they all bring up is diversifying their client’s investment portfolios. And that right there, is key to making any investment, whether it’s a portfolio, or marketing, a solid strategy.
Where on market might go down, another will come up. Even when DOW goes down there are always some companies that come up. Either because it was just the other end of the see-saw or that’s just where social trends have adjusted to. Same with real estate. Not all states got impacted with housing declines. Some declined more than others. Where one city would halt to a stop in their trending real estate market, another will be going up. Where sales might go up, rentals might go down. You get the hint. The same with marketing. When social media started emerging not everyone was on board with advertising on those platforms. TV, radio, billboards, were the way to go. “Social media” was powerful if you had a good word of mouth tactic going.
The point I’m getting at is to keep an open mind in where your real estate investments are. With stocks, one person might invest in pharmaceuticals primarily but place a certain amount in say, electronics. As in real estate, by all means, invest where you are comfortable, but keep an open mind with investing in other markets as well. Keep an eye out on rising industries and where some big companies are projecting to expand their labor force to. For example, Boeing moved a huge part of their 787 program to Charleston, SC. Being that I had just left the mortgage industry I knew that Charleston’s market was going to see something completely unexpected. Sure enough, other industry giants followed the lead and years later Charleston became a rising real estate market. Not say “I told you so” so some people that didn’t believe me, but…..yes. I did. Diversifying is one thing, knowing how to diversify is another. I mean I don’t expect someone to read this email and throw a dart at a map of the U.S and say “THAT’s where I am going to spread out my portfolio!” (or the world, ah, something else to keep in mind).
I could come up with 100 ways where diversifying can be an advantage in your investments to the point. But I’d rather take your word that you can come up with a few ideas ;).