out of state purchase for renting

[Deep Ron]

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

[Nathan Gesner]

Quote from @Deep Ron:

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

You can start by reading "Long-Distance Real Estate Investing" by David Greene. He has a lot of information in that book that will help you navigate the process.

[Laurence K.]

@Deep Ron

The website neighborhoodscout.com is good for looking at demographics, especially crime and vacancy.

[Deep Ron]

Quote from @Nathan Gesner:

Quote from @Deep Ron:

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

You can start by reading "Long-Distance Real Estate Investing" by David Greene. He has a lot of information in that book that will help you navigate the process.

 Thank you for the advise , will try to go through the book.

[Deep Ron]

Quote from @Laurence K.:

@Deep Ron

The website neighborhoodscout.com is good for looking at demographics, especially crime and vacancy.

 Thank you will go over this website 

[Samuel Diouf]

Have you looked into the Ohio markets? I think Columbus is a great market to consider. I moved here from Florida after seeing the projected growth. Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon. Which in turn will bring plenty of other investors and general business to the area.

What are your goals with investing? 

[Corby Goade]

Honestly- you need an investor friendly agent. If you need to ask these questions, boots on the ground and professional guidance is the only way to go. 

[Zeke Liston]

Quote from @Deep Ron:

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

 I would start by narrowing it down to 3-5 markets. Then, I would connect with several agents from each market and gain knowledge on the best market for you. 

[Preston Dean]

Quote from @Laurence K.:

@Deep Ron

The website neighborhoodscout.com is good for looking at demographics, especially crime and vacancy.

 @Laurence K.

Anyway to get this data without paying for a report?

[Preston Dean]

Quote from @Deep Ron:

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

 @Deep Ron

One thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 4

1. Your contractor

2. Your deal finder (agent/wholesaler)

3. Your property manager

4. Your Lender

My suggestion to find #2 & #4 would be to go to the top of this page and click on FIND AN AGENT & FIND A LENDER. There you will be asked your criteria and then after answering a few questions you will be matched with 3-5 agents or loan officers in your area. My suggestion would be to select someone with the most forum posts or most reviews. That way you know they are active in the BP community!