Finding Strong Rental Markets

[William Staton]

Hello Everyone! 

I'm new to bigger  pockets and am still navigating the site.  I have several rental properties in my area currently. 

I'm looking for property in Florida, mainly the Sarasota or Ft Myers area.  What is the most effective way to locate areas with the highest rental potential?

I'm basically asking if you are coming into a new area how do you begin the research?

I have some ideas, but would love some feedback. 

I'm looking to buy and use it for short term and  long term rental.

Thank, Will 

[Andrew Garcia]

Hi @William Staton, there are quite a few ways to condfuct research on prospective areas.

One way is to connect with a local investor-friendly agent. They should tell you which neighborhoods to avoid and which could be attractive.

Another way is to look up statistics from the Bureau of Labor Statistics and the U.S. Census Bureau.

Additionally, tools such as Rentometer and AirDNA can help you get an idea of the income generated by prospective properties.

Hope this helps! Let me know if I can be of any assistance.