Real estate market analysis

[Aaron Kohanbash]

Hey, what's up everyone,

I am new to the real estate investing game. I just took a course and was learning about market research, like looking at population per capita in an area and average income, among other things, and comparing those factors in one community where there may be a property you are interested it to another community. I wanted to know if you guys have software that can get that kind of information easily and efficiently. I know that co-star offers this, but I don't have that budget, I am okay with spending 100-200 a month for software to practice with and learn. Does anyone have any suggestions?

[Nathan Gesner]

Don't waste the money. You'll end up spending countless hours trying to analyze all the numbers, and in the end you still won't know what house to buy.

Our grandparents didn't have all these research tools, podcasts, books, and other resources, and they still managed to invest in real estate. Find a neighborhood you like, find a house you like, buy it, and hold it.

Focus on learning to analyze individual properties. Here's a simple method: https://www.facebook.com/share/v/L3rQkN4K5teAtk3r/

Do this enough times and soon you'll be analyzing properties in your head or on a napkin. 

The most important skill to learn: how to manage property! So many investors lose thousands, or even tens of thousands, every year through poor management of their property. If you want to be successful, learn how to manage well.  "Every Landlord's Legal Guide" by NOLO is a good book for this purpose. Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.