I have just relocated to South Florida, around Fort Lauderdale, and I have a very basic idea of where to begin when it comes to analyzing my new market, and was hoping for some suggestions from people who have a little bit more experience than I do, which would be none. Thanks!
I am interested in multifamily rental properties to finance with a 203.k loan, or some other such FHA loan.
@Clay Monroe Message investors and realtors in your area. Take them all to lunch and ask where everyone is buying, what areas are good for cash flow, etc. Look up absorption rates (number of active listings vs. closed listings in each area you are targeting), find out where buyers are wanting to buy. What areas have experienced growth (income, population increase, new jobs in the market, new construction, rent increasing in the area). These are all factors to consider. Also, drive for dollars. That's probably the best way to get to know your market
Thanks @Devan Mcclish! I'm going to write those things down and get to work!