Some of the most successful real estate investors you’ll ever meet will tell you one thing: Invest where you live. This is the advice I give to my students, especially if they’re newbies. Though you may hear about hot areas a hundred miles or more away, think carefully before investing there. Why? Because it’s difficult to gain thorough knowledge of a market area if you aren’t living there. And even if you can get a snapshot of knowledge that can carry you through a successful purchase, you won’t be around to notice the nuances of change that could signal the need to sell before problems set in.