Sources of data when deciding where to invest?

[Brett Thompson]

Hi. Newbie here. Looking for advice on what sources to use when analyzing an area/region for investment purposes. Primarily interested in population and job growth statistics. Tyvm

[Nathan Gesner]

Quote from @Brett Thompson:

Hi. Newbie here. Looking for advice on what sources to use when analyzing an area/region for investment purposes. Primarily interested in population and job growth statistics. Tyvm

Don't spend too much time on it. Dave Meyers from Biggerpockets has videos and blogs showing some great markets to invest in. Below is an example. Spend an hour or so looking at each one, pick one, and go for it. Don't analyze until you're blue in the face, thinking it's going to make life easy.

[Eliott Elias]

Invest where you live. No point in finding the best market on paper and investing remotely. Too much opportunity out there to be investing out of state. 

[Julian Colvard]

For me personally, I choose to invest in places that I know are growing. The way I know this is by looking at the population increase which is available on Google.

I also look at the map to see how many highway roads lead to that city. That is a large indicator of how busy the area is.

I also need to be able to drive there within four hours.

[Allison Dorman]

I am in your same boat, Brett-- gathering resources and narrowing down my market and deal criteria so I do not drive myself crazy going in too many directions.    I do think it helps to know what strategy you plan to use and what your end goal is.  Then reverse engineer the market and type of property based on what your goals are and what makes a good deal in that platform.

I am also in Atlanta if you want to brainstorm! I am looking for a good meet up group locally.

[Brett Thompson]

Hi Nathan.
Thanks and yes I had just watched Dave's video.
I should have maybe better explained... So i live in the Southeast and am looking in that general area. I am really more interested in evaluating regions within the SE for pop growth, economic growth, etc. so I can narrow down my search a little more.  

[Brett Thompson]

Quote from @Eliott Elias:

Invest where you live. No point in finding the best market on paper and investing remotely. Too much opportunity out there to be investing out of state. 

Hi Eliott.

Thanks for the reply.

I should have better explained.  So I live in the Southeast and am looking in that area...specifically Georgia. I'm really just trying to better evaluate regions within the SE for pop growth, economic growth, etc. so I can better narrow down my search.  

[Brett Thompson]

Quote from @Julian Colvard:

For me personally, I choose to invest in places that I know are growing. The way I know this is by looking at the population increase which is available on Google.

I also look at the map to see how many highway roads lead to that city. That is a large indicator of how busy the area is.

I also need to be able to drive there within four hours.

 Thanks for the advice, Julian. Will definitely keep that in mind.  

[Brett Thompson]

Quote from @Allison Dorman:

I am in your same boat, Brett-- gathering resources and narrowing down my market and deal criteria so I do not drive myself crazy going in too many directions.    I do think it helps to know what strategy you plan to use and what your end goal is.  Then reverse engineer the market and type of property based on what your goals are and what makes a good deal in that platform.

I am also in Atlanta if you want to brainstorm! I am looking for a good meet up group locally.

 Ty Allison. 

 I'm currently looking in the areas just outside of metro ATL. I used to buy primarily in Gwinnett, Forsyth. Then I moved away. I recently returned "home" but not targeting those exact same areas right now.  

[Mohammed Rahman]

Hey @Brett Thompson - there are a lot of different markets you could focus on based on those criteria. You'll likely face paralysis analysis if your approach isn't tailored to what your investment goals are. 

For example, if you know you want to focus on cashflow and not appreciation, then you could spend more time looking at markets that have lower property prices and higher job growth. Additionally, you might say that the first investment has to be in a market that's within a 6 hour drive - great, keep narrowing your list down. 

There are hundreds of mini-markets that could fit your criteria but @Nathan Gesner said it best. Pick a handful that fit your criteria and just go for it. 

[Julian Colvard]

https://www.coachcarson.com/id...

This will help you greatly. Very detailed guide on choosing a market. 

[Brett Thompson]

Quote from @Julian Colvard:

https://www.coachcarson.com/id...

This will help you greatly. Very detailed guide on choosing a market. 

 Ty Julian. That looks very helpful. Can't wait to dive in. Much appreciated.