Just like you wouldn’t go renovate a property without having the right tools, you wouldn’t buy an investment property without having the right data. These are the 5 research tools I use to make data-driven investment decisions. I call them digital treasure maps.

MLS Websites (Realtor.com, Zillow, Redfin):

These sites are your introduction to the market, loaded with property listings, photos, pricing history, and specs.

Scope out properties, compare similar ones, and size up pricing trends to get a good picture of the area. It's your one-stop shop for basic market value estimates and rental income projections.

Spot Crime:

Spot Crime dishes out neighborhood crime data helping you understand that area’s crime. It's your cheat sheet for neighborhood security and comes in clutch when underwriting vacancy loss and evections.

City Data:

City Data gives you a full picture of the city and neighborhood stats, from demographics to schools, crime rates to local economics.

Dive into your target city to gain insights on population, jobs, schools, and income levels. It's your backstage pass to community character.

County Auditor's Website

County auditors' sites reveal property tax info, assessments, and historical records. I’ve seen dozens of deals where taxes are listed incorrectly.

Search up “[Insert your county here] County Auditor” and punch in an address or parcel number for the lowdown on property tax records and assessed values. It's your wallet's best friend for verifying tax records.

Rentometer

Rentometer helps you gauge the rental rates of a given market, helping you nail the perfect rent rate for your property. Type in your property's address and watch it churn out comparable rental listings and rates. It's your secret sauce for setting the right rent and maximizing income.

Coupling a strong understanding of the local market with these tools is what I’ve found to be helpful when it comes to digging up details, forecasting returns, and making data-backed decisions.

Cleveland, Ohio

8 Votes