Investor · Mc Lean, VA · Member since 2015 · 75 posts · 48 votes
Full disclosure: I am thinking about building a new software platform for real estate investors.
When thinking about a strategy, entering a new market, or determining a neighborhood of interest, what data do you look at? What tells you it is hot? Do you follow a bigger fish? Do you stay close to home? Do you use US Census data? Crime stats? Most starbucks per capita?
Rental Property Investor · OK · Member since 2015 · 316 posts · 216 votes
10y
Todd
Great questions. In a perfect world, I would have the following info:
Rent rate data: similar to Rentometer
Trend data for area/neighborhood: sales activity, rent rates, permits pulled
Trend data for property class/segment (i.e. sales for the 200k-400k range down 10%, rent rates for 2 unit C class up 5%)
Relevant, market specific news (i.e. local military base laying off X for sequester). Too many sources give very generic info that good to know in general, but doesn't really help deal analysis.
Pretty much any pertinent info not found on the MLS, Zillow County websites, etc.
I'll volunteer for the Beta if you end up creating it.