Clifton, NJ · Member since 2016 · 24 posts · 3 votes
Hi Everyone,
I am just joined Bigger Pockets a few weeks ago and have been trying to learn as much information as possible. Since I am brand new to this world, I would love to know if anyone has come across a solid set of criteria or a checklist to use when evaluating what neighborhoods you want to invest in. I know it depends a lot on whether you are trying to do single family for flipping or as a rental, but I'd like to know if there is criteria for both that exists.
Welcome aboard. Assuming you have your area and are now narrowing it down to a neighborhood. I would look at the following.
Crimes stats
School districts and if the district is more than one elementary school then which school is better than the other.
Here in my area there are 3 elementary schools each school has its own individual reputation. So be aware that just because your in a great school district doesn't mean all schools in that district are great.
Besides that start thinking like a tenant. How far from the hwy are you, how close is the grocery store, mall, park, public transportation, laundry mat, etc.
Drive the neighborhoods your considering. Would you feel safe at 8pm in January? Would the wife and kids feel safe if they had to stop by for some reason?
Are the lawns mowed, yards in good order? Do you get a feeling that the people already here take pride in their homes? Derelict autos in driveways, graffiti, trash or just a dirty feeling. Are there people hanging out at all hours of the night or is it relatively calm and peaceful. Is the a town park? Is it in good order?
This is a start I'm sure others will chime in with how they go about it.
Investor · Tromsø, Norway (Europe) · Member since 2015 · 431 posts · 194 votes
10y
Hiral Lai Welcome to BP! I can recommend reading J Scotts flipping book. It will give you an idea of how to narrow down your area, whether you are looking to flip or buy and hold.
Clifton, NJ · Member since 2016 · 24 posts · 3 votes
10y
Thank you both! I will definitely keep these tips in mind and check out the book. I live in Clifton, NJ so I was hoping to determine if there were good neighborhoods around me for rentals. Thinking like a renter definitely makes a lot of sense.