Market Data Companies...are they worth it?

Question

I'm in Nashville trying to analyze the market for multifamily and small apartment properties. I found a company called REIS that offers market data. I listened to a phone presentation and it sounded good. Cost....$6500. Does anyone know anything about this company? Thx

Devan Mcclish · Answer

don't do that. Talk to brokers. Study employment, income, traffic count in the area, revitalization of the area, how many people are moving in vs out. Have rents gone up stayed level or declined. What are cap rates in the area, etc. don't spend 6500 when you have FREE information available by doing a little more work.

John Cohen · Answer

Account Closed is talking about, its FREE. If you do this you build more knowledge and learn more a the business then just paying for it.

Account Closed · Answer

Thanks guys! John, I just sent you a message on this but you can ignore it now...this is info is what i needed.

Jamal Okon · Answer

@Chris Larkins

Run! That's unnecessary.  $6500.00 is better used as earnest money.

I am also marketing in the Nashville market for multifamily.  I get all my market research from Nashville Business Journal, Multifamily Housing News, Area Development, Bureau of Labor Statistics, etc.

Luka Milicevic · Answer

$6500???? did you accidentally add an extra zero at the end? I'm sure they have very fancy reports with solid data but that is far too much to pay for market data. What Devan said; Just go ahead and do your own research. The information out there is free and I don't see how you could justify 6.5k.

Market Data Companies...are they worth it?

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