How do I locate the best places to invest near me?

[Alec Strahl]

I want to keep this simple because I’ve seen a lot of people talk a lot about this topic but haven’t heard anyone break it down simply. I am attempting to find out what the best areas are around me to start looking for rental properties, while also figuring out which ones to exclude. I currently live in the Dallas area and have done my preliminary research to identify it as an area with strong long term growth potential, growing population etc. I am now trying to narrow down the best neighborhoods/ zip codes I should be starting my search in. What financial metrics are you guys using for this? Are there any tools you have used to simplify this process? I want to know what key areas to focus on so I can then go through my due diligence process on each individual property without wasting my time looking in the wrong areas that are not good opportunities. Thank you!

[Eliott Elias]

Look at the major highway and see what secondary and tertiary markets are connected with your major city.

[Kevin Coco-Senyszyn]

For beginners, I suggest investing in areas you know well, such as the neighborhoods you drive through daily. Stay within a short distance from your commute and become familiar with those areas. This will help you make better investment decisions. Additionally, being closer to your properties is better for rentals. We've seen investors find success in a wide variety of properties all across DFW but focus on finding a property that's easier for you to get started with.

[Jennifer Volek]

Alec, As a Real Estate agent I have access to see what rents/sale prices of homes are on a map at the same time. (Let me know if that doesnt make sense). From my experience, the price of the home is reflective of its income potential. I would narrow down your search based on potential equity growth, which you said you're already doing and thats great. What i do is look at the rents in a particular city and then I try to find the "best" property in that particular city. When i say "best" it is bc we all have different criteria of what we're willing to work with. For example, You might be able to buy a house at a "discount" bc it is a 2 bd but has a bonus loft that you can convert into a 3rd bedroom. Let me know if i can help in any way.