Market Research as a Newbie
Hi BP community,
I am new to real estate and have been following BP podcasts and book recs for a few years now. I am currently at the stage of market analysis focusing on SFH/LTR, hoping to BRRRR with properties with ARV of $200,000-$250,000 (if not under). I am focusing on cashflow properties to start. I have attached a snapshot of the excel I have done (starting with Brandon Turner's top cashflow city list from 2020), and I have compared cities/states with regards to median home price, income tax, inbound/outbound characteristics, etc. I understand there are deals everywhere, but I also hope to find a city that allows me to expand my portfolio in the future. I would like to hear you guys' thoughts on my approach and what my next steps could be (e.g. Look for more cities? Narrow down certain states?, etc.). I am located in NYC, so I am open to long-distance investing. I have a background in architecture and LEED (green building), so my expertise would be in creative use of layouts and zoning/building opportunities.
Any advice welcome.
Thank you all!
Sonya
