I am preparing to start investing in RE and I would like to know if there is a way to find out what's the best county to invest in my surroundings.
For instance... is there a way to see where the population is moving to?
What are the fastest growing zip codes?
Where is the income growing and the unemployment dropping?
Things like that, which could tell where to aim and what to stay away from.
Learning markets is a bit of a process. A few things that you can do to get started would be to look at average days on market in an area that you're interested in. Talk to realtors, other investors, home buyers, and anyone else that is paying attention. You can look at things like population changes but you have to look at the big picture, the market as a whole. Good luck.
I to am a new investor and was asking the same questions. So I will pass on same of the same information I was receiving. 1 book that kept coming up was "Emerging Real Estate Markets", How to find and Profit from Up-and-Coming Areas by David Lindahl. Search this website for information on your surrounding area.
To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
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