Hi, I’m Chris. I buy three-bedroom townhouses in Millwoods.
That’s my niche. You may have met my Dad, Brent. He’s the King 82nd Street. (That’s over here)
If you’re going to do anything, you need to define your niche. Where, what, how, why, where, and what makes you different than your competition.
To that end, Peyman Aleagha wrote a great piece for the Geek Estate Blog about developing and working a niche online.
I’m not talking about online competition or SEO, but more generally about your real estate investing business.
Just as an example, you might say you invest in residential real estate. If you’re like me, you can refine that to say you invest in positive cashflow, long term investment residential real estate. But there’s still a bunch of possibilities.
- Single family homes
- Townhomes
- Condominiums
- Foreclosures
- Neighborhoods, subdivisions or areas
- New homes for sale
- Downtown condominiums
- Suburbs
- Acreages
Define a niche, and become an absolute expert in it. Know the neighbourhood and everything about it. That dosen’t prevent you from investing in other areas or types of properties, but it’s only by focusing and learing that you’re going to succede.
