Investment Market Research Tools?

[Alex White]

Hey BP Community,

Hoping to get some feedback on the process/tools of fellow investors. I've struggled to find a quick/convenient way to do market research before choosing my next investment.  If a property is outside of my current location or anywhere i've previously invested, I find myself looking at the Forbes best places to buy list as a leading resource.  I feel very reactive.  Is this as good as it gets?

 Do you use any tools to locate and measure new investment areas?  Whats the biggest problem with your current process/tools you use now?  

Thanks!

[Matthew G.]

@Alex White It's not so much the tools but the team. If you can have a good team in any area you choose to invest, they will be more important, in my opinion, than just following the "best" place to buy. You might find a tool that tries to find areas that pass the 1% rule or some other computed measurement, but just because it passes this test doesn't give you the whole story. Every area would have its own pros and cons that you need to factor in when making a decision and you would only get this information from a team you can trust.

Another reason the team is greater than the tool for locating investment properties is that they will be the ones finding you deals. If you frequently invest in new areas because the tool you use says so, it's harder to build relationships and your network to find the good deals.