Updated over 13 years ago on . Most recent reply
Market Analysis
Any tips on how to conduct market analysis out of state? Also how to go about putting a team together out of state/ what members do you all recommend?
As always, thanks for your help!
Chudi
Most Popular Reply
Out of state investing is not easy and not for everybody. That said, I highly recommend having someone trustworthy with aligned incentives and boots on the ground. Without personal knowledge of specific areas, paper analysis from afar may cost you dear.
Pulling comps from afar is one thing, driving the comps and neighborhoods in person is another.
Another option is to fly there and personally study the market for at least a week.
If you have no clue how to perform market analysis in your own backyard, I would suggest learning at home first and practice. Then, once you have it down, start in your target market area.