New investor looking to start out of state

[Donnie Tucker]

Hello everyone. I have a list of potential markets to invest in. I need to pick one so I can hone in on it but I'm having trouble finding sites with recent market data that are user friendly. Can anyone help?

[Donnie Tucker]

Quote from @Hardy Vibert:

@Donnie Tucker

Hi there! St. Louis has proven to be a solid investment for me over the past five years. I recommend exploring

https://www.zillow.com/research/data/

and engaging with local real estate groups for up-to-date market data. Feel free to ask specific questions about St. Louis, and I’ll be happy to help!

 Thanks for the info.  I will consider that

[Donnie Tucker]

Quote from @Alex Evans:

I would recommend Memphis! 

Memphis is a great market for many reasons, but three main things that Memphis has going for it are..

- Memphis has relatively affordable housing, and you may find properties within your budget.
- The city has a diverse economy, with sectors such as healthcare, transportation, and logistics.
- Memphis has a strong rental market, making it attractive for investors seeking cash flow.

With affordable prices and over 50% of the city being renters there is always opportunity in Memphis

Thanks for the info.  Memphis is one of the cities I'm looking into.  If I decide on it I will be in touch

[Jordan Ray]

Quote from @Alex Evans:

I would recommend Memphis! 

Memphis is a great market for many reasons, but three main things that Memphis has going for it are..

- Memphis has relatively affordable housing, and you may find properties within your budget.
- The city has a diverse economy, with sectors such as healthcare, transportation, and logistics.
- Memphis has a strong rental market, making it attractive for investors seeking cash flow.

With affordable prices and over 50% of the city being renters there is always opportunity in Memphis

If I could <3 heart react any biggerpockets forum post, this would be the one!

[Jordan Ray]

Quote from @Andres Martin:

I've found out that Zillow can be a great place to find some specific data. You can filter the data you are looking for based on whichever markets are in your list of potential candidates.

https://www.zillow.com/research/data/

If you are looking for more information about migration patterns and employment opportunities, I would recommend the U.S. Bureau of Labor Statistics:

https://www.bls.gov/ces/

If you have a more specific city in mind, you can always visit the city/county website and see what kind of public information they have, such as new developments, etc.

I hope this was helpful to you. Feel free to DM me if I can be of further assistance.

A Realtor suggesting Zillow? That a new one! Glad you see value in Zillow LOL

[Sam McCormack]

Quote from @Donnie Tucker:

Hello everyone. I have a list of potential markets to invest in. I need to pick one so I can hone in on it but I'm having trouble finding sites with recent market data that are user friendly. Can anyone help?

 If you would like Donnie we can get on a call and talk about the Greater Cincinnati market. Even if it is just a few minutes and a few questions. I can tell you some stuff about Cincinnati and the area surrounding

[Leo R.]

Quote from @Nicholas L.:

@Leo R.

thanks for this.  agree 100%.  i am going to start linking to this thread the next time the question gets asked...

Please do--new investors interested in OOS investing seems super common in the forums--it comes up a lot.

I see you're in the 'Burgh (I lived there for years--one of America's most underrated cities, and one of my favorites!). 

Funny enough (and very relevant to this thread), I was seriously looking into OOS investing in PGH for a while (had a local agent checking properties, and got very close to making an offer on a small portfolio), but never quite pulled the trigger (in part because of one of the problems I mentioned in my post--it's hard to assemble a team of boots on the ground from the other side of the country! Finding folks who say they can help is easy, but finding truly competent pros you can trust to execute complex, high stakes REI maneuvers is tough)...either way, PGH is an awesome city!

[Donnie Tucker]

Quote from @Sam McCormack:

Quote from @Donnie Tucker:

Hello everyone. I have a list of potential markets to invest in. I need to pick one so I can hone in on it but I'm having trouble finding sites with recent market data that are user friendly. Can anyone help?

 If you would like Donnie we can get on a call and talk about the Greater Cincinnati market. Even if it is just a few minutes and a few questions. I can tell you some stuff about Cincinnati and the area surrounding

Thanks for the reply.  If I decide on OH then we can eplore that option

[Samuel Diouf]

When doing research on areas that you are interested in, I would identify industries with positive growth trends, analyze market reports, industry publications, and economic forecasts, consider emerging markets and technologies. When doing OOS investing the core 4 is essential to long-distance investing. It consists of a realtor, contractor, property manager, and a lender. Once you have this team in place, you should have the foundation to invest in any market confidently while not being there physically.

I think Columbus is a great option to consider. Multiple, billion dollar companies are investing into our area, such as Intel, Google, and Amazon, due to reasons such as lower costs on land, great tax abatement opportunities, and an attractive cost of living for employees.

[Donnie Tucker]

Quote from @Account Closed:

Quote from @Donnie Tucker:

Hello everyone. I have a list of potential markets to invest in. I need to pick one so I can hone in on it but I'm having trouble finding sites with recent market data that are user friendly. Can anyone help?

Just curious, what has prevented you from starting sooner? Maybe the insight will help other people.

 I'm happy to answer your question but I'm not sure what you're asking.  You mean why don't I invest locally before looking elsewhere?

[Andres Martin]

Quote from @Jordan Ray:

Quote from @Andres Martin:

I've found out that Zillow can be a great place to find some specific data. You can filter the data you are looking for based on whichever markets are in your list of potential candidates.

https://www.zillow.com/research/data/

If you are looking for more information about migration patterns and employment opportunities, I would recommend the U.S. Bureau of Labor Statistics:

https://www.bls.gov/ces/

If you have a more specific city in mind, you can always visit the city/county website and see what kind of public information they have, such as new developments, etc.

I hope this was helpful to you. Feel free to DM me if I can be of further assistance.

A Realtor suggesting Zillow? That a new one! Glad you see value in Zillow LOL

I honestly can't tell if you are being sarcastic or not. Still, to your comment, yes, as a realtor, I find value in the data that Zillow, Redfin, and similar sites offer when it comes to analyzing certain parameters to determine whether I would suggest my clients invest somewhere or not.

I particularly enjoy the videos that Dave Meyer creates with all the fun facts that sometimes most people overlook when looking at data.

[Jordan Ray]

Quote from @Andres Martin:

Quote from @Jordan Ray:

Quote from @Andres Martin:

I've found out that Zillow can be a great place to find some specific data. You can filter the data you are looking for based on whichever markets are in your list of potential candidates.

https://www.zillow.com/research/data/

If you are looking for more information about migration patterns and employment opportunities, I would recommend the U.S. Bureau of Labor Statistics:

https://www.bls.gov/ces/

If you have a more specific city in mind, you can always visit the city/county website and see what kind of public information they have, such as new developments, etc.

I hope this was helpful to you. Feel free to DM me if I can be of further assistance.

A Realtor suggesting Zillow? That a new one! Glad you see value in Zillow LOL

I honestly can't tell if you are being sarcastic or not. Still, to your comment, yes, as a realtor, I find value in the data that Zillow, Redfin, and similar sites offer when it comes to analyzing certain parameters to determine whether I would suggest my clients invest somewhere or not.

I particularly enjoy the videos that Dave Meyer creates with all the fun facts that sometimes most people overlook when looking at data.

Yes sir, trying to bring humor to the forums. I value Zillow too, I actually find it easier to find specific properties moving the map around on Zillow. Only kidding brother!