How do YOU grade/rate a neighborhood?
One thing I’m struggling with is finding the right neighborhood to invest in. Or when I find a property, confirming if the neighborhood is decent enough.
Any tips?
Thank you!
Most Popular Reply
- Rock Star Extraordinaire
- Northeast, TN
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If you are going outside of areas that you are not familiar with, then you either have to use statistics or boots on the ground that are familiar with the area. You can use crime, demographics, housing age, proximity to employment/shopping/attractions, etc. If you are familiar with the area, it gets pretty easy as you drive around. Start with the premier neighborhood and see what it looks/feels like. Then compare other neighborhoods to that. Look at rents in the neighborhoods you think are premier vs. others. ETC.
One thing I do when I drive an area (though I know my own area in my sleep): I drive around at 1 or 2 PM on a mid-day weekday, like a Tuesday or Wednesday. If I see a lot of able-bodied people (mostly men) hanging around the houses on porches, corners, etc. at that time, I'm unlikely to consider it much further.
- JD Martin
- Podcast Guest on Show #243
