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Bryce Holdaway Blog post by Bryce Holdaway

Investing Interstate

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In this episode of Real Estate Talk, Kevin Turner interviews Bryce Holdaway and ask him about investing interstate. What is the trend in the property market now and should we invest in our own backyard where we are more comfortable or board a plane and invest in a new area? Here a snippet of the podcast:

Kevin: Yes. It’s always much easier when you’re buying in a patch you know, which is the area that you’ve probably traditionally bought in. But a number of the investors that I talk to, they’re very brave, and as you said, there is so much information available now that you can really do a lot of preparation before you even travel to the market.

That raises another question, Bryce. Do you think you should travel to the market and see the property before you buy?

Bryce: If you’re doing it yourself, absolutely.

I always say that buying real estate on the Internet is a bit like checking out your friends on Facebook. They only put the good stuff up. They never tell you about when they’re having a bad day. It’s a bit like that with real estate. You should really check it out if you’re buying it without the help of a property professional.

But I’m jumping on a plane more than ever to go into interstate markets and check them out, and run the ruler over opportunities. With a buyer’s agent, I think we’re using data analysis, but I think that is a bit of a double-edged sword, as well.

Not only is there more information out there that people can reach easily, but it actually makes it harder to digest and form it into some form of view on what you should actually do. In essence, there’s a little bit of paralysis by analysis.

Kevin: Yes.

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