Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 12 years ago,

User Stats

163
Posts
4
Votes
Shannon X.
  • Real Estate Investor
  • Center Moriches, NY
4
Votes |
163
Posts

How do you find your target area?

Shannon X.
  • Real Estate Investor
  • Center Moriches, NY
Posted

As the title says.. How do you find your area(s) that you want to buy in and what are you looking for in those areas?

User Stats

8,666
Posts
4,014
Votes
Jon Klaus
  • Developer
  • Garland, TX
4,014
Votes |
8,666
Posts
Jon Klaus
  • Developer
  • Garland, TX
Replied

This is a continuing evolution for me. 4 years ago, I was OK with buy and hold across six counties east of Dallas. Now I'll buy and hold in 2-3 of those counties, and only in certain school districts within those counties. In Austin I pretty much focus on a single zip code for new construction because it's easier to become an expert on a small area.

User Stats

505
Posts
34
Votes
Samantha M.
  • Landlord
  • Dallas, TX
34
Votes |
505
Posts
Samantha M.
  • Landlord
  • Dallas, TX
Replied

Thats a great question, looking forward to reading the responses.

1-800 Accountant  logo
1-800 Accountant
|
Sponsored
Unlock Year-End Real Estate Tax Savings: Buy your accounting services now and deduct them on your 2024 taxes. Flat rate, never hourly.

User Stats

211
Posts
152
Votes
Chris Feltus
  • Residential Real Estate Agent
  • Fort Worth , TX
152
Votes |
211
Posts
Chris Feltus
  • Residential Real Estate Agent
  • Fort Worth , TX
Replied

As a wholesaler, in the process of establishing my business, I wanted to market to my “back yard”, in my case: Arlington, sections of Fort Worth & Mansfield. These areas are in close enough proximity to minimize drive time, which is an important factor for me at this time until I decide to expand.

From there you need to establish what variables fit your criteria for where you want to buy. Items such as: Months of supply housing inventory, square footage, rent rates, tax assessed values, school districts, crime, DOM, year built etc. are all variables that can all assist you in finding your target market area. In my case, looking to wholesale high equity houses, you want to find the median house value in your market area, and play at or below that level. For example a 3/2/2 brick house with an after repair value of $120,000. Emphasis on the aforementioned variables can change greatly depending on what your exit strategy is as well. For instance, your target market area will change if your exit strategy is owner finance versus a retail flip.

Once I established the big picture of my target markets, I began to break it down even further by zip code and subdivision utilizing various software and database programs. This helped to pinpoint exact subdivisions within my target market area.

For Example: This is a map I produced as a byproduct of database queries and software that shows specific subdivisions within Arlington. The map color codes the subdivisions by median tax assessed value.