Hi All. I've read numerous posts on people suggesting certain cities to invest in, but was wondering how do you determine if the city is a good one? Are there certain websites you look at or particular indicators that help?
Some things to look at:
Population growth, job growth/local economy, housing starts and new construction, what's the locations' industry or industries, foreclosure rates, etc.
You might want to check out the book "Timing the Real Estate Market" by Robert Campbell. He breaks down a lot of these indicators.
Where can I get "Timing the Real Estate Market", can someone share the PDF?
Look at people’s core needs. Jobs, education for jobs. First thing I look for is strong population growth. Normally that leads to a university and job growth in the town.
Well I don't know if Campbell is a billionaire, but he's certainly very wealthy.
He's also been in the Real Estate industry for 46 years (through various market cycles), has a BA in Economics and a MBA in Real Estate Finance. Plus he's had a lot of experience as a developer and a broker before writing this book.
Either way, he's not giving his economic forecast in the book, merely data driven indicators for change. Maybe the book isn't for everyone, but I felt it was a valuable resource for me and my investing.