Knowing your Market — Am I missing something?
Good day PB folks,
As you may have noticed from the title of this post, let's just say as I'm new to the real estate investing world as the come back of the fidget spinners. I am learning everyday, listening to the Money Podcast and the REI Podcast but keep hitting a bump: all the guests repeat over, and over again: "know your market". But what does that mean exactly?
From what I gathered, here’s what to look over:
- Job growth vs. Population growth
.... And to that I ask:
- What would be a good percentage growth to look for?
- I assume that if the job market is dominated by
tech and healthcare (for example) would be considered reliable, are they fields and industries to stay away from?
- Demographics, crime rate, median household income
- Good school districts (isn’t that once you have found a good market?)
- Good public transportation
Am I missing anything major (or minor?) over here? Any feedback/ book recommendations is greatly appreciated!
Have a good day 😊