Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Real Estate Investing
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 almost 3 years ago on . Most recent reply

User Stats

30
Posts
15
Votes
Albert Velasquez
  • New to Real Estate
  • Bolingbrook, IL
15
Votes |
30
Posts

How can I judge market areas using more objectivity

Albert Velasquez
  • New to Real Estate
  • Bolingbrook, IL
Posted

One of the problems I've noticed while analyzing a specific location in my local market is that I analyze it based on whether or not I would personally live there. I don't think this is the proper way to analyze an area. I know my areas pretty well and I would like to know what specific objective metrics I should be looking at when deciding whether an area is "good" or not. I want to develop a system of analyzing a location that can be duplicated all over the country. I don't want to just rely on my subjective feelings about an area. For example, there are a few 2-4 units in Joliet that I like, but because I personally would never live in Joliet, I immediately cross those properties off my list for potential investment. 

Most Popular Reply

User Stats

28,314
Posts
19,357
Votes
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
19,357
Votes |
28,314
Posts
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Quote from @Albert Velasquez:

One of the problems I've noticed while analyzing a specific location in my local market is that I analyze it based on whether or not I would personally live there. I don't think this is the proper way to analyze an area. I know my areas pretty well and I would like to know what specific objective metrics I should be looking at when deciding whether an area is "good" or not. I want to develop a system of analyzing a location that can be duplicated all over the country. I don't want to just rely on my subjective feelings about an area. For example, there are a few 2-4 units in Joliet that I like, but because I personally would never live in Joliet, I immediately cross those properties off my list for potential investment. 

 I despise terms like good and bad neighborhoods. Good and bad for what? To live in? To invest in? To make money in? As such I created a grading scale from A-F to provide a set of expectations on characteristics one could expect when investing in certain classes of properties. Not sure where you are investing but below are some of these guides for individual markets that are popular with investors.



The Ultimate Guide to Grading Cleveland Neighborhoods

_

The Ultimate Guide to Grading Kansas City Missouri Neighborhoods

_

The Ultimate Guide to Grading Birmingham Alabama Neighborhoods

Loading replies...