Location is more than just an address when it comes to making a smart real estate investment.
When Torres bought his first flip, he was making $20,000 to $22,000 a year in base pay — $40,000 with overtime. When he was only 20, his grandmother co-signed his first loan. Since then, he has developed over $100 million in real estate.
To make money in real estate, Torres advises buying homes that are in up-and-coming neighborhoods, in the "sweet spot" between the hot spot and the fringe.
But it's important to pick a location not just by triangulating on a map. You need to visit the neighborhood you are considering in the morning, the middle of the day and at night, says Torres.