Need advice: Gauging neighborhood trajectory remotely

[Eric Van Laar]

When you're evaluating a remote deal, how do you figure out if the neighborhood is improving or not? Particularly if you don't have trusted boots on the ground.

[Stuart Udis]

@Eric Van Laar  Before I commit capital or meaningful amount of my time anywhere, I need to experience the neighborhood firsthand. I want to be there in the morning to observe work patterns and daily routines, spend time in a local café or coffee shop to see who actually lives and lingers there, and be present after work to understand how the area transitions in the evening. I also want to see what the neighborhood feels like on a Friday and Saturday night by visiting the restaurants and gathering spots. In parallel, I need to tour housing inventory that leases or sells quickly as well as properties that sit stagnant on the market.  I can tell by this if it's the specific location or design/layout or condition that's driving demand.

I can then take what I learn through that reconnaissance and pair it with the data sets available online to form a more informed view of the neighborhood’s trajectory. I wouldn’t personally trust anyone else to do this work on my behalf, and I view it as a low-cost, high-value step to take before committing to a more meaningful investment. The time and expense involved are minimal relative to the potential investment.