New Investor. Looking for analytics to understand my market.

[Alan Curry]

Hello BP!

I have been on the site about a month looking at various posts and decided now is the time for a formal introduction.

First, a little background on me. I have a mechanical engineering degree and an MBS in finance. I currently work for a global Fortune 500 company as a senior level manager. With all of the activities affecting employees and employers due to COVID and the Great Resignation, I decided to reassess my current situation and look towards a possibility of a new career path in Real Estate or, at worst, just to supplement my current salary. I live in the Indianapolis metro area, which I see is growing in demand for out of state investors.

I am probably starting down this path a lot later than most of you, but it's never to late to start. Right now, I don't know what I don't know. I currently do not know where to focus my plan as I could probably go any route, whether it is to be a Real Estate agent, flipper, landlord, wholesaler, passive investor, or STR. I've always been a data-driven person to know where to best allocate resources for success, so I was wondering if anyone knows of a place that summarizes the different avenues within the real estate industry and any analytics associated with each type. I'd also like to know if there are any analytics breaking down rents for a given location and rental size. For example, is there a certain part of the country/state/city that benefits more in having 1 or 2 bedrooms and others that benefit with a 3 or 4 bedroom? I currently have a generous 401k from a previous employer that I can convert into a self-directed IRA and also some savings to tap into if needed. An owner-occupied multi-unit is out of the question as I already live in a SFH.

Thank you for any assistance the community may bring!

[Peter Korty]

Hi Alan,

A lot of that stuff is public information. I do a ton of research using Beacon by Schneider. It's what a lot of counties use for tax data. Otherwise, if you go to the county websites you can usually find out the tax data from it.

I used it to find out what the most popular house type was in my area. It sometimes will even tell you how much a property recently sold for too.