▲ DAYTON, OH
DOING WELL BY DOING GOOD Even so, many of these geographically flexible buyers are emotionally connected to the market or markets where they choose to invest. “My passion is really going back into the neighborhoods I grew up in and help enhance those areas and make money,” said McCormick, who continues to hold down a regular “day” job even while she invests.
Specifically, the share of buyers in each market purchasing outside of their local market provides insight into which markets are most attractive—and least attractive—to buyers willing and able to invest outside their local market. These geographically flexible buyers are more likely to target markets based on the underlying strength and opportunity in those markets rather than on the convenience and comfort that come with buying in their backyard.
Johnson grew up in Georgia and frequently traveled there for his day job before he retired several years ago. Helping people buy a home they can afford—something his family growing up was never able to do—is a high value for him. “That’s kind of my market because you are helping people who don’t have options and, secondly, you don’t have much competition,” he said. “Those stories (of helping people) are as important as making a profit.
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