Learning Your Market!

[Shanel Wiggins]

I have been doing some reading on how to study a market for investing and after I read several articles I feel confident in knowing how to investigate a market but then 5 minutes later I feel lost and don't know where to start. I am currently studying for my NYS RE Sslesperson license and I'm seeking to invest in Yonkers, NY. 

I have looked at the "city-data" website for Yonkers, NY and I know that the population increased 9% since 2000 and the median income is in the $50,000 range. 

I also know that I should research comps in my prospective area. 

Can anyone give any advice as to what I should be doing to know my market inside and out. 

Btw- I live about 15 minutes drive from Yonkers, NY. 

[Patrick Liska]

Find out what areas are good to invest in, that can collect the most rent and the crime rate for different areas. look for convenience, sub-way, bus, train, schools, even hospitals ( some people like to live close plus you may get Dr's and Nurses). here is a link that can help if you haven't gone to it yet: http://www.biggerpockets.com/renewsblog/2014/12/26/demographicstelling-real-estate-indicator-analyze-investing/