Finding a Market for Out of State Investing

Starting Out
5yFollow

Finding a Market for Out of State Investing

Peyton From
Accountant 路 San Francisco, CA 路 Member since 2020 路 35 posts 路 13 votes

Hi everyone! I am brand new to RE investing and was hoping to get some input on how to choose a great out of state market. I live in San Francisco, and for my first deal I want to do a buy and hold, single family home somewhere in the Mid-West. 

My question is - what websites should I use to find data on potential cities and what metrics should I use to support my choice?

Thanks,

Peyton

0Reply
33 views

Most Popular Reply

Julio Garcia
Rental Property Investor 路 Modesto/Stockton/Merced, CA 路 Member since 2020 路 456 posts 路 214 votes
5y

Hello Peyton, the big one I use is city-data.com 

1Reply
See this reply in the discussion

7 Replies

Jump to latestLatest
  • Julio Garcia
    Rental Property Investor 路 Modesto/Stockton/Merced, CA 路 Member since 2020 路 456 posts 路 214 votes
    5y

    Hello Peyton, the big one I use is city-data.com 

    1Reply
  • Bonnie LowPro Member
    Lender 路 Asheville, NC 路 Member since 2016 路 1k+ posts 路 1k+ votes
    5y

    Hi @Peyton From - have you tried CityData? 

    City-Data.com - Stats about all US cities - real estate, relocation info, crime, house prices, cost of living, races, home value estimator, recent sales, income, photos, schools, maps, weather, neighborhoods, and more (city-data.com)

    I usually start there. 

    [email protected]
    0Reply
  • Ryan Copeland
    Rental Property Investor 路 Columbia, SC 路 Member since 2020 路 245 posts 路 275 votes
    5y
    Originally posted by @Julio Garcia:

    Hello Peyton, the big one I use is city-data.com 

    How do you use the data? What are you looking for?

    0Reply
  • Peyton From
    OP
    Accountant 路 San Francisco, CA 路 Member since 2020 路 35 posts 路 13 votes
    5y

    Hi @Bonnie Low, I have taken a look at city-data.com a few times, yes.

    Thank you for the input!

    1Reply
  • Peyton From
    OP
    Accountant 路 San Francisco, CA 路 Member since 2020 路 35 posts 路 13 votes
    5y

    @Ryan Copeland

    Hi Ryan, I have taken a look at city-data.com, yes.

    I am looking for a site that displays historical data/trends in housing prices, market rent, household income, etc.

    I have also read about the importance of leveraging your local realtor to give you a better picture of the market. Do you have any thoughts on this?

    Thanks for your input.

    0Reply
  • Ryan Copeland
    Rental Property Investor 路 Columbia, SC 路 Member since 2020 路 245 posts 路 275 votes
    5y

    @Peyton From

    Hey Peyton,

    I started out the same way, trying to find a realtor that knows the market. I haven't had much luck. But since you're looking to invest out of state, you definitely need one or know someone in the city you're trying to invest who can be your boots on the ground.

    I don't know about the data from websites. My exposure to that is only from this post馃檪. Yet that's what makes this forum great, you can always be learning.

    0Reply
  • Peyton From
    OP
    Accountant 路 San Francisco, CA 路 Member since 2020 路 35 posts 路 13 votes
    5y

    @Ryan Copeland

    Hey Ryan, that is good to know. I definitely agree that I will need to focus on building a team on the ground when investing out of state.

    I appreciate your thoughts!

    Thanks

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free