Investor · Santa Monica, CA · Member since 2017 · 43 posts · 13 votes
Hey BP!
I was recently looking at some commercial apartment buildings and a thought came up. If you are trying to break into a new market that you don't necessarily know, what Websites/data do you use to identify if a specific area to start looking for property. Let's assume this for commercial apartment buildings only (5+)
I started going on and looking at census data but don't really know how to put it all together to quantify my findings.
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
@Account Closed Census is great, google search on the market with keywords, such as employment, new jobs, new companies, etc and the city webpage as well. Large broker web pages like Marcus and Millichap, CBRE, ARA, Colliers, etc are also good. I just wrote a blog and posted it on linkedin. If you search my name you will find the article on emerging markets, which should have good content for you
Investor · Los Angeles, CA · Member since 2016 · 577 posts · 240 votes
9y
Chris.
this is a great question especially if you're investing out of state like I do full-time. I am also in Los Angeles and close to Santa Monica so we should definitely meet up. Connect with me and we can chat sometime this week. But to answer your question when looking for new markets to invest in Forbes.com is a great place citydata.com is a great place and then from the census you want to get information like population growth, major employers, workforce growth and then also news about the city that you want to invest in to figure out if it's on the up.
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
@Account Closed I would avoid Forbes.com. They are going to tell you to invest in the hottest markets (Seattle, Portland, San Francisco, etc). Most of the major news outlets like that are poor resources
@Account Closed Census is great, google search on the market with keywords, such as employment, new jobs, new companies, etc and the city webpage as well. Large broker web pages like Marcus and Millichap, CBRE, ARA, Colliers, etc are also good. I just wrote a blog and posted it on linkedin. If you search my name you will find the article on emerging markets, which should have good content for you
Hey Todd! Thank you so much for the reply. I see you are from MN! I will actually be moving there in August! Did not know about the broker websites and will definitely use those! I will connect with you now! Thanks!
Chris.
this is a great question especially if you're investing out of state like I do full-time. I am also in Los Angeles and close to Santa Monica so we should definitely meet up. Connect with me and we can chat sometime this week. But to answer your question when looking for new markets to invest in Forbes.com is a great place citydata.com is a great place and then from the census you want to get information like population growth, major employers, workforce growth and then also news about the city that you want to invest in to figure out if it's on the up.
Thank you Antoine! I sent you a request! Let's try to meet up this week! I think I may write up a blog post using everyone's suggestions on how to identify a market!
@Account Closed I would avoid Forbes.com. They are going to tell you to invest in the hottest markets (Seattle, Portland, San Francisco, etc). Most of the major news outlets like that are poor resources