Best Ways to Get to Know Your Market
I am a new OOS investor looking for some good ways to get to know your market. I’ve spent time scouring through the BP forums reading everything I can about different areas. I’ve checked out crime stats, average rents and average home sale prices for different areas. I’ve also researched areas for trending markets (ie up and coming). However, without boots on the ground, I can’t be 100% sure about areas.
I guess my question is, would you recommend flying out to visit the area, or is that an unnecessary expense. I obviously can’t fly out to check out every deal, but a one time (or even once a year) visit may be able to give me some insight. Note, I’m looking to invest in Memphis. Thanks for your thoughts!