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Listen "E01: Expert Advice on Choosing the Best Town for Your Investment with Anil Dham"
Episode Synopsis
Finding a town to invest in can be tricky. Would you rather buy cash flow in places that won't ever appreciate? Why not buy one that does both where you can have your cake and eat it too?
Being in the real estate investment space for 22 years now, Anil Dham shares some gold nuggets of insights when it comes to investing in a town. Find out the things you need to be looking for before you even make a deal.
Anil Dham is also the Council President in the Royersford Borough, a small suburb with 4,800 residents. He ran for office in 2013 with the hope of reviving a once dilapidated town. Eight years later, Anil has helped facilitate the transformation of Royersford, attracting more investors, improving their housing stock, and cultivating relationships.
Here are some power takeaways from today’s conversation:
What a borough looks like
Why Anil decided to run for office
What drives value in boroughs
Some reasons people don’t want to invest in Philadelphia
How to find a municipality that is easy to work with
What to look for when investing in a municipality
What to look for in a development project
What Anil’s property management setup looks like
Episode Highlights:
[19:20] How to Find a Municipality That’s Easy to Work With
*Call the municipality and see how they answer the phone. If they're not answering the phone or returning calls, you already know what you're going to expect.
*Call the code enforcement officer and just have a conversation. If they're brushing you off, you're probably not dealing with a place that's going to be worth it.
*Go to a meeting and ask a question. Tell them you're looking to buy in their town and see how they feel about investors.
[23:22] What to Look For When Investing in a Municipality
*One of the first things to look at in boroughs is the school district because it's what drives value. People buy the school district, and they do not necessarily buy the town first. If your school district is in the top 15 in the state, you're probably in a good place to invest.
*Look at housing trends. Look if house values went up or doubled the increase of the county average. Count the appreciation.
[28:48] What to Look For in a Development Project
*Short-term rental (the highest price per night)
*Co-living (ex. renting by the bedroom, weekly membership, monthly membership)
*Subsidized affordable housing (ex. two-year lease)
*Retail client
Investors typically have a reputation for being cheap or doing cheap work. Just spend the extra money, and it'll pay itself off really well. Don’t cut corners because it’s so much easier to do it right the first time.
Resources Mentioned:
LinkedIn: https://www.linkedin.com/in/anildham/
*Software and tools used:
PayRent
QuickBooks
*Recommended groups:
Diversified Investors Group (DIG)
National Real Estate Investors Association
Being in the real estate investment space for 22 years now, Anil Dham shares some gold nuggets of insights when it comes to investing in a town. Find out the things you need to be looking for before you even make a deal.
Anil Dham is also the Council President in the Royersford Borough, a small suburb with 4,800 residents. He ran for office in 2013 with the hope of reviving a once dilapidated town. Eight years later, Anil has helped facilitate the transformation of Royersford, attracting more investors, improving their housing stock, and cultivating relationships.
Here are some power takeaways from today’s conversation:
What a borough looks like
Why Anil decided to run for office
What drives value in boroughs
Some reasons people don’t want to invest in Philadelphia
How to find a municipality that is easy to work with
What to look for when investing in a municipality
What to look for in a development project
What Anil’s property management setup looks like
Episode Highlights:
[19:20] How to Find a Municipality That’s Easy to Work With
*Call the municipality and see how they answer the phone. If they're not answering the phone or returning calls, you already know what you're going to expect.
*Call the code enforcement officer and just have a conversation. If they're brushing you off, you're probably not dealing with a place that's going to be worth it.
*Go to a meeting and ask a question. Tell them you're looking to buy in their town and see how they feel about investors.
[23:22] What to Look For When Investing in a Municipality
*One of the first things to look at in boroughs is the school district because it's what drives value. People buy the school district, and they do not necessarily buy the town first. If your school district is in the top 15 in the state, you're probably in a good place to invest.
*Look at housing trends. Look if house values went up or doubled the increase of the county average. Count the appreciation.
[28:48] What to Look For in a Development Project
*Short-term rental (the highest price per night)
*Co-living (ex. renting by the bedroom, weekly membership, monthly membership)
*Subsidized affordable housing (ex. two-year lease)
*Retail client
Investors typically have a reputation for being cheap or doing cheap work. Just spend the extra money, and it'll pay itself off really well. Don’t cut corners because it’s so much easier to do it right the first time.
Resources Mentioned:
LinkedIn: https://www.linkedin.com/in/anildham/
*Software and tools used:
PayRent
QuickBooks
*Recommended groups:
Diversified Investors Group (DIG)
National Real Estate Investors Association
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