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How to Select the Right Submarket with Anthony Chara, Episode 158

January 21, 2020

 

Anthony Chara is a seasoned Real Estate investor that has successful investing and property management experience dating back to 1993. After 16 years working for a fortune 500 company and traveling extensively, Mr. Chara gave up his lucrative Area Manager position to spend less time traveling and more time creating wealth for his family. Today, Anthony is a seasoned investor and has helped thousands of other aspiring real estate investors. 

Mr. Chara owns or has owned properties across the country and shares how he selects places to invest at the MSA and submarket levels. In addition, he shares great tips to help you find deal the best markets, submarkets and take consistent action forward. 

 

  
Partner: Join me at the Best Ever Conference plus 15% discount with 15DEAL

 

Key Insights

  • Started investing in 1993 with buy and hold

  • Did wholesaling and flips, but they felt like a job

  • Enjoyed the scale of apartment investing and went full-time in 2004

  • Began coaching to add additional income streams and find potential partners for apartment deals

  • He and his wife focused on the lifestyle they wanted to create and built a business around it 

  • Most people are waiting for the right time to let go of their comfort zone

  • When reviewing markets, pay attention to crime and the type of crime

  • SpotCrime, CrimeReports and Trulia Heat Maps for initial view, but always talk to local police

  • Crimes of convenient are everywhere, but high crime and violent crime areas should be avoided

  • School districts and crime usually go hand in hand

  • Prefer using Trulia for school ratings with 5 or higher 

  • Looks for employment growth and population growth - uses BestPlaces.net and Census.gov

  • Likes to see 2% population growth in last couple of years

  • In the Midwest and Southeast, likes to see the HHI median income at a minimum of $45k

  • CoStar, Axiom, RealPages, ALN have great data available

  • Verify your projections with multiple local property managers

  • Markets Anthony Likes: Orlando, Tampa-St. Pete, Western Detroit & Northern Detroit Suburbs, Dallas, Omaha, Kansas City, Denver, Grand Rapids, Colorado Springs

  • Find 15-30 minutes a day to take actions that move your business forward

 

Partner: Download a Free Sample Apartment Deal Package 

 

Bull’s Eye Tips: 

 

Apparent Failure: 

Learn from failures and keep taking action 

 

Most Recommended Book:

Rich Dad Poor Dad by Robert Kiyosaki
 

The Cashflow Quadrant by Robert Kiyosaki


The Science of Getting Rich by Wallace D. Wattles


Think and Grow Rich by Napoleon Hill


 

Most Recommended Digital/Mobile Resource:

There are 110 Websites that Anthony Recommends
 

Daily Habit:

Read goals twice a day with emotion

 

Wish I Knew When I Was Starting Out

Investing in apartments sooner

 

Current Curiosity:

Investments outside of real estate - for instance, orange groves

 

Best Place to Grab a Bite in Denver:

Mama Roma’s

Elway’s Steakhouse

 

Connect with Anthony:

Website: successclasses.com

Email: anthony@successclasses.com

 

Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.

 

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