property going up - wheres the next hot spot??, page-8

The best Hot Spots are the area you are familiar with. The area you live in or work in. This is the area you see every day, this is the area you obtain the maximum information from. Your childrens school friends, the local shopkeepers, sporting groups etc. This is called insider trading for real estate because you get to hear all the info in your normal day to day life, who is selling, who is going into a retirement home etc. If you grew up in the area you also have the historical information.
If you keep the property for rent you can drive past it everday if you want to, if you have to do repairs it is 5 minutes away.
"Hot spots" are all very good until you have to travel there three or four times a week to check out adds or see RE Agents and you don't get to hear about what the council is going to do to wreck your investment until it is too late.
Distant hot spots are for the professionals who move about all the time and have the money to buy in any price range