Analyzing Markets: Who do you go to FIRST?

[Nick Elg]

BiggerPockets community / Long distance investors / @David Greene :)

If you were making a decision to invest in a new market, are there any PEOPLE that would provide more helpful and valuable information than google, zillow, rentometer, etc?

Who do you turn to for additional valuable market information? 

[Account Closed]

Originally posted by @Nick Elg:

BiggerPockets community / Long distance investors / @David Greene :)

If you were making a decision to invest in a new market, are there any PEOPLE that would provide more helpful and valuable information than google, zillow, rentometer, etc?

Who do you turn to for additional valuable market information? 

 I have properties in several markets. I would not rely entirely on others when I enter a new market. I visit the area and drive the streets. I pick up the newspaper and I check out the shopping malls, restaurants and main places of employment. I check to see how the streets are maintained and learn the main neighborhoods. It only takes a few days and has helped me make much better decisions. 

I've had a realtor recommend a property and they didn't notice the high power electrical lines that ran through the alley. That is a problem for some people. Had I not driven the neighborhood, I wouldn't have noticed. I've had realtors recommend properties that are unsafe for children (too much traffic, a swamp area in back of the cul de csac, too close to a drug rehab center, etc, etc) If you are going to put your hard earned money into a project, take the time to make sure it's one you want to keep. There are plenty of stories on Bigger Pockets about people asking how to get out of a bad purchase that they never saw up close before they put down the money.