Finding the right market

[Kevin E.]

Does anyone out there have any kind of spreadsheet or market analysis tool they use to find their target market?

I have been looking into out of state investing and have had many turnkey providers reach out (thank you) but I am not at the point that I even feel right taking their time yet. I want to find the market that fits my strategy best first and then speak to professionals in that market.

I think I am more comfortable paying a little more for properties in nicer (B+) neighborhoods with good (rated 5+/10) schools with a modest cash flow where I have a better chance at long term tenants that take care of the place rather than a C-ish neighborhood with a lot of turnover and crazy high (2% rule) returns.

I have been looking at the major markets like Indianapolis and Memphis as well as where my current home and rental are (Anchorage, AK and Vancouver, WA) and am finding that I will probably be in the suburbs rather than the city.

All this being said, I would love to get my hands on a tool or suggestions on how to set one up to analyze these areas to find the best one for my situation.

[William Hochstedler]

@Brie Schmidt & @Jay Hinrichs started a website turnkey-reviews.com that provides reviews for companies.

I've suggested to them to help provide some market analysis tools for exactly this reason.

There are a bunch of posts on BP about how to analyse markets including this one

Then you can go on forever with government statistics...

Trulia has a great interactive demographic map at http://www.trulia.com/local

Of course none of this has been compiled in any sort of side-by-side way to compare turnkey markets.

I think it would be a useful exercise.