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Updated almost 7 years ago on . Most recent reply

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Maxwell Milholland
  • Buffalo, NY
30
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86
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Seeking advice on market research

Maxwell Milholland
  • Buffalo, NY
Posted

Hello everybody,

I am looking to start investing in the near future in Buffalo, New York. I am looking for duplexes in the 100-200k range in a good neighborhood that will produce an abundant pool of responsible, trustworthy, and creditworthy tenants. I am beginning to narrow down my search and the criteria that I am considering is as follows: 

Population size/Growth

Where are people coming from? 

Unemployment rate/how many people are employed?

Household incomes

GDP per capita

Crime rate

Property taxes

Number of owners vs renters

Price to rent ratios

vacancy rates

Housing prices.

I am wondering if this about covers what I should be looking for in a particular area, or if there are any important factors that I should be considering. Also, if anybody has any good suggestions as to which websites or resources they use to find their market data I would greatly appreciate the feedback. Currently I use:

Rentometer

County Assessors website

Neighborhood scout

Zillow

Various property manager's websites.

Thank you all!

Most Popular Reply

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13,486
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,553
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13,486
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

Believe it or not, you missed a few:

Number of pets

Number of homes with/without garages

Number of 1 story homes

Number of renters with children

Number of renters with jobs in the government

Number of speeding tickets given out at the main intersections

List of favorite colors and how many of each.  (this is going to be a tough one)

...and finally, what could you possibly do with all the data your list would collect, and what would all (or any of it) matter?

Keep it simple....Dollars and cents,...with "plus sings" in front.

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