Doing Some Market Research
I must have an entrepreneur spirit in my blood. I just have this drive to discover new opportunities, and new ways to make money. I think it must be my passion - to create money.
In order to create wealth, you have to do a little brainstorming. Sometimes the ideas that you come up with are good, and to be honest, sometimes they are just really poor. I have had my share of both, but that is how we learn I guess.
This week, I have been spending my time looking at different real estate markets, trying to find good places to invest. I did find some markets with good and bad potential but one of them stuck out - Illinois.
I did find some good potential in Illinois - at least according to what I saw online - and I decided to do a little more digging. Specifically I try to create a corporation in the state I will be operating in controlled by a parent corporation that is out of state. So, I looked into the incorporating fees, the Illinois mortgage rates, as well as the vacancy rates in the areas where I would be investing.
I still need to do some due diligence before I proceed. I will probably pass that on to one of my colleagues - I have a partner that is particularly good at that stuff - before I finally invest.
