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Updated almost 5 years ago,
Learning an Out of State Market - How to Know Which Neighborhoods
Hi everyone. I am trying to get out of the analysis paralysis stage, even during these crazy times.
I've read the Long-Distance Real Estate Investing Book and the Rental Property book from BP. I've saved up my target amount for a down payment. I know I want to invest in out of state SFH 3bed/2ba in B Class neighborhoods for cashflow somewhere in the mid-west.
I've looked at cities population growth, job growth, median house values, crime rates, if its landlord friendly, vacancy rates, ect.
Now I've been analyzing just two houses a day on Zillow from my target cities( Kansas City, MO, OKC, Indy, and Columbus) to build a habit.
But now I realize I have no idea what neighborhoods are good and its a bit overwhelming as there are so many neighborhoods in cities that I have never been to. I've found guides by James Wise for some of the cities on my list, but these are just names on a list to me and I don't feel like I really understand enough of the neighborhoods to confidently make an investment.
How did you go about learning the neighborhoods for a state you've never been to?
Thank you.