What resources to use for market analysis?
Hi everybody! I am a newbie from Seattle, Washington. I am trying yo figure out what market to invest in and I was wondering what resources do you use to get the market information below?
1. Rent/price ratio
3. Job growth
4. Income growth
5. Population growth
6. Risk factors
I am considering investing in Spokane, WA or possibly in Oklahoma City, OK.
Thank you for your help!
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#2 Commercial Real Estate Investing Contributor
- Multifamily and Self Storage Investor
- Richmond, VA
Census.gov and bls.gov will have a lot of the high level numbers you're looking for. Neighborhood-level info gets a bit more difficult to find, I've found that local sources tend to have the most up-to-date information.
Thank you @Taylor L.
@Einat Menashe I can provide feedback about OKC!
1. With off-market deals you can typically hit the 1% rent to value ratio.
3/4. The department of numbers might answer that.
5. I've seen numerous sources stating OKC's consistent population growth!
6. OKC is a very boring market. So if you're shooting for appreciation I wouldn't come here. However, as a place to safely invest while we're at the end of a cycle and there's an impending downturn, this could be a great option! Really people come here for cash flow, lowe entry point and security. You can grab a 70k property in a decent C class area and cash flow every month even during a downturn!