All Forum Posts by: Ben Schein

 Thanks Jeremy, really appreciate this perspective - I was attempting to both be a more informed party and make a more confident decision before starting to engage with folks, but I see your point and realize now the best way to build that knowledge is by jumping in. Thanks again

Hello all!

I’ve been deep into market analysis for the past few weeks, researching OOS markets to identify the best spot for my first investment (buy box below). So far, I’ve narrowed it down to Detroit, Memphis, and Pittsburgh, based on what I’m seeing for value-add opportunities, appreciation potential, population trends, median home prices, renter percentages, and landlord-friendly policies.

Where I’m getting stuck is drilling down from metro-level data into zip codes and neighborhoods. I plan to visit whichever market I choose, but I’m struggling to gain enough confidence to pick one and take that next step.

I’d love some advice on two fronts:

• How do you recommend honing in on specific neighborhoods or submarkets once you’ve chosen a metro? What methods, tools, or approaches have worked for you?

• Any insights or considerations for Detroit, Memphis, or Pittsburgh (or similar markets I might be overlooking)?

A bit more about my strategy:

I’m NYC-based, and while I know some strategies could work locally, my strengths and situation are better suited for long-term buy & hold value-add plays in more affordable markets.

Buy Box:

• Asset type: Multifamily (2-4 units)

• Neighborhood type: C or B-class

• Strategy: Buy & hold for long-term rentals

• Key goals: Positive cash flow in year one, with a primary focus on long-term value growth through appreciation & value-add. I’m comfortable with rehab work but don’t want a full gut renovation for my first deal.

Thanks in advance for your time and any advice you can share!

 Thanks so much @Mohammed Rahman — really appreciate you taking the time for such a thoughtful reply. I'm leaning toward out of state for my first deal, since prices in the local New York area seem to be prohibitive with my starting capital and to my strategy (long term rentals ideally in multi-family with value add opportunities)

This is incredibly helpful, thanks Cole

Hello BiggerPockets community! Just starting my journey into real estate investing, and conducting my first market analyses. One datapoint I keep getting a little hung up on = is average home value, and it's leading to two separate but related questions: how do I most effectively use or weigh this metric as part of my analysis? And I understand the difference between the average home value and median sold price, but I'm curious which people use when evaluating a market, their rationale for that decision, and how they use the metric. Thanks so much in advance for any answers!