Why can't I pick a market?

[Alex DeYo]

I have been looking to purchase my first investment property for almost two years now... I have made several offers on properties all over the country but have not closed. In all this time, I still can't seem to decide on a market. I find myself jumping from market to market, state to state, and just can't seem to narrow in on any one place. Grass always just seems to be greener and I end up sitting on the sideline. I want to pick a market and put my blinders on and feel confident that THIS is where I am going to focus.

How do you all decide and commit to one area? Are there tools that you use to help inform your decision? Is paying for tools such as Mashvisor worth it? Any others recommended?

Appreciate the help/discussion!

[Amir Khan]

Quote from @Alex DeYo:

I have been looking to purchase my first investment property for almost two years now... I have made several offers on properties all over the country but have not closed. In all this time, I still can't seem to decide on a market. I find myself jumping from market to market, state to state, and just can't seem to narrow in on any one place. Grass always just seems to be greener and I end up sitting on the sideline. I want to pick a market and put my blinders on and feel confident that THIS is where I am going to focus.

How do you all decide and commit to one area? Are there tools that you use to help inform your decision? Is paying for tools such as Mashvisor worth it? Any others recommended?

Appreciate the help/discussion!

This is a great question! So here are few tips:

1. Know that whichever market you choose, it will be almost impossible to check ALL the boxes.

2. Decide on 4-5 major criteria that are important to you when investing in your first REI project. For example, only buy in a market where there is job growth etc.

3. Based on these criteria, decide on one REI strategy (ex; flips, wholesale, BRRRR).

4. Then scan BP forum for favorite cities where BP investors are investing based on this strategy. Short list 5 cities.

5. Then reach out to BP investors in these 5 cities and see if they'll connect you with their local contacts (agents/brokers/contractors etc).

6. From these 5 cities - choose 1 and then fly/drive in and meet/create your team.

7. Now begin researching properties in this city (with the assistance of your team). Your team will help you focus on specific parts of city that will be more profitable for your REI strategy.

Hope that helps. DM me if you have question or want to chat..