Researching Your Market

[Jacob Plocinski]

I’ve decided on some basic criteria to filter potential properties in my market. Thanks to The Millionaire Real Estate Investor, awesome book! I’ve now started to actively track and research my market. I’m pretty good with databases so I’m in the process of developing one for local rent rates and one for local properties. I like building systems and the idea of scaling in the future is also enticing. I’m in a smaller market in Central Pa and the bigger websites (Trulia, Zillow, etc.) offer decent information; however, not specific enough for my tastes. I’ve committed one day each weekend to walk/drive my prospective neighborhoods as well as network with local real estate agents/investors.

The next big step for me is to start walking through properties that fit my criteria. My question: When you were getting to know your market what tips/tricks seemed to work best for you? Is there some type of information you tracked that helped in your specific market? Any and all suggestions are welcome. Thanks for taking the time to read this and best of luck!