The Argument for Local InvestingOctober 7th, 2013 by The JetSetter Team | Comments Off on The Argument for Local Investing
Now that the economy shows signs of improvement, more people are looking to invest. They’ve seen the toll that a struggling economy can take on their own communities and are seeking to invest locally. The small business acts as something of a pillar—when they are reinforced, a community stands strong. When they are not supported, the entire community suffers.
The advantage of local investing has been shown to have two to four times the economic benefits of investments in a global business—local business owners spend money locally and help develop communities that are more walkable, attract more tourists, and are more business friendly. All of these things encourage economic growth and healthy communities. While Jason Hartman has traveled abroad to explore international investment possibilities, he believes that the best investments are often right under our noses.
A local investment might be a good choice for you for a number of different reasons. First, you experience the outcome of your investment firsthand. You’re also able to provide things like jobs and resources to a community you care about and see change in action. You also may have more creative control.
In the case of real estate investments, local can be an even better way to go. If you choose to manage your property yourself, you have easy access to the area. You’re better able to advertise, answer questions, and solve tenant issues. Even if you choose to have a property management company handle this part of your investment, you’re better able to keep tabs on your investment by remaining local. In-person meetings are much more feasible, and you’re able to physically see your investment property.
The other advantage of local real estate is a thorough understanding of the needs of a particular area. As we’ve discussed before, knowledge is power in the real estate industry. As a member of the community, you’ll be able to decide what features best meet the needs and act accordingly. You are both investing in local economy and becoming part of it—how exciting!
In an economy that shows a shift from goods to services, local businesses are set to excel. With things like micro-investment funds, co-ops, local stock exchanges, and pension fund participation, local investments have the potential to make a major difference. A strong local economy is crucial to a strong global economy—and you can make it happen!
* Read more from Jetsetter
Tax Tips for Your Business
The Jetsetter Show Team