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Updated about 2 years ago on . Most recent reply
How to Identify Up and Coming Neighborhoods for REI
Hi All!
How to identify up and coming neighborhoods for real estate investment?
What websites or databases do you use for this research?
Thank you.
Most Popular Reply
Here are some nuggets from the podcast that i've put together.
When looking at the area you find a deal-
Look for the medium household income and if the that medium household income would support the rent you would need to charge. Rent should be 3-3.5x household rent. So an area with a medium household income of $30000 can support $1000 rent, for example. This tells you your pool of potential renters is large
City-data.com
Richblockspoorblocks.com
Less than 15% population in poverty
Not in a flood zone (check FEMA website)
Low
crime area, you can check Trulia they have heat maps- you can visit police dept
for information too
Check the development calendar on the website of the city/town/county if you can find it
You want an increasing population, an increase in employment or jobs opening up in the area
a decent school system