Analyzing + choosing a new market?

Question

Hello, new guy here.

I'm moving back to the US soon and I'm going to choose a location based partly on the local/regional real estate markets, as I'd like to start investing. I'd appreciate any market research resources anyone could point me towards (Redfin has some interesting reads, any others?). Also, if anyone has experience picking up and moving or expanding their geographic focus, were there specific criteria or catalysts that drove your selection of a particular new market?

I realize this is a completely subjective issue that depends on individual circumstances, goals, strategy etc.....I'm not looking for any perfect solution or hot tips, I'm just trying to look for potential long term value and a flexible market, and I'm interested in hearing about how others conduct their more general market analysis.

Thanks!

Aaron Mazzrillo · Answer

I would decide where you want to live based on what type of lifestyle you prefer. Savvy investors make money in every market.

Dan McDermott · Answer

Hi @Aaron Mazzrillo , apologies for not replying to your reply sooner. You're very right in advising lifestyle considerations - but it's crazy how little I know of the US (born/raised overseas, worked most of my career abroad).

I've done a lot of remote research, and I've chosen a few cities/areas to check out. I plan to spend a few weeks in each, hopefully linking up with a few BP members in each place.

On that note, if anyone is in Albuquerque or Santa Fe, NM (or anywhere in NM or southern CO) and would be interested in meeting up - I'm very interested in MF buy and holds with some basic updates. I'm very open to the idea of a profit-for-experience type of partnership setup, and if anyone would like to meet up - beer's on me :)

Elizabeth Colegrove · Answer

My husband is active duty so we do alot of "long distance" move to areas unknown. We also buy properties in these crazy places ;) We have done well looking at school districts first. Specifically elementary schools. The number 1 or number 2 elementary school also symbolizes a great area. That is what helps us decide where to buy in the town. Town wise we look for a town with growth while having  a large transient population. There is a natural transient nature in almost any town. Those that have to rent and those that need to. For the highest rental prices you want an unnatural higher demand than available rentals this way you are able to get considerable more in rent.

Analyzing + choosing a new market?

Most Popular Reply