Tips for Finding Good Neighborhoods

[Chris McCormack]

I'm sure most people will respond with reaching out to an agent. I'm wondering if there are places to go before reaching out. I see sites like Neighborhoodscout.com but would love any suggestions people may have.

[Josh Caldwell]

The answer depends on how exactly you are asking the question.  If you are asking about how to find a good neighborhood for you to live in, you can look at crime "heat maps" to see where the safest areas are.  You can also look at school ratings to find the best districts.  If you are looking for neighborhoods that will appreciate, then follow the flippers.  Be warned that you are now speculating (educated gambling), and a gentrifying neighborhood can quickly fall out of favor.  If you are looking for cash flow, then you probably want to look at cheap neighborhoods.  There is a relationship between price and rental rate, so look for low price.  Also be warned, that the best cash flow will generally come with the most tenant problems, so you might not want to go for the BEST cash flow, but that is a personal decision.