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Hi All, when you're doing in-depth market analysis/research for specific markets, what's your go-to for detailed data? I'm talking about a thorough analysis to include economic trends, population trends, crime, rents -- the whole gamut of relevant data for a particular market. I don't mind paying for a market research subscription that's worth the cost. TIA!
- Flipper/Rehabber
- Pittsburgh
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with this question i always like to ask... what's your goal?
the best way to research a market is to go to it and drive and walk around. i'm not being flippant - i genuinely believe this.
Quote from @Nicholas L.:
with this question i always like to ask... what's your goal?
the best way to research a market is to go to it and drive and walk around. i'm not being flippant - i genuinely believe this.
Hello! My goal is long-term appreciation on a property w/sufficient cash flow to make a long-term hold practical. So I'm thinking in terms of researching the long-term prospects for particular metros.
- Flipper/Rehabber
- Pittsburgh
- 3,568
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- 4,681
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OK - a couple reactions - cash flow is extremely difficult right now without a creative strategy. even in lower cost markets.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
and - i still think it's better to pick a market that you have a connection to rather than one that meets arbitrary numerical criteria. like - your own market. or a market a couple hours away that you can spend some time in person in. or where you went to college. or where you like to vacation.
Quote from @Nicholas L.:
OK - a couple reactions - cash flow is extremely difficult right now without a creative strategy. even in lower cost markets.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
and - i still think it's better to pick a market that you have a connection to rather than one that meets arbitrary numerical criteria. like - your own market. or a market a couple hours away that you can spend some time in person in. or where you went to college. or where you like to vacation.
@Nicholas L.: Agreed regarding cash flow! What I really should've said is, "properties that approximately break even, making it more practical to hold in the long run." As for my own market and the surrounding areas, I'm in one of those areas where the best I'm going to do is $500 monthly negative cash flow as opposed to $1,000 monthly negative cash flow. Obviously, that makes things a bit difficult.
So, I'm looking further afield at other markets. Hence, I'm looking for research tools and detailed data to help me narrow my search down to one market!
Quote from @Mike Tashman:
Hi All, when you're doing in-depth market analysis/research for specific markets, what's your go-to for detailed data? I'm talking about a thorough analysis to include economic trends, population trends, crime, rents -- the whole gamut of relevant data for a particular market. I don't mind paying for a market research subscription that's worth the cost. TIA!
Lance's Resiclub
Quote from @Carlos Ptriawan:
Quote from @Mike Tashman:
Hi All, when you're doing in-depth market analysis/research for specific markets, what's your go-to for detailed data? I'm talking about a thorough analysis to include economic trends, population trends, crime, rents -- the whole gamut of relevant data for a particular market. I don't mind paying for a market research subscription that's worth the cost. TIA!
Lance's Resiclub
@Carlos Ptriawan Thank you! Worth the $299 price tag, I take it?
Quote from @Mike Tashman:
Quote from @Carlos Ptriawan:
Quote from @Mike Tashman:
Hi All, when you're doing in-depth market analysis/research for specific markets, what's your go-to for detailed data? I'm talking about a thorough analysis to include economic trends, population trends, crime, rents -- the whole gamut of relevant data for a particular market. I don't mind paying for a market research subscription that's worth the cost. TIA!
Lance's Resiclub
@Carlos Ptriawan Thank you! Worth the $299 price tag, I take it?
If you are big time or institution investor yes …otherwise just Redfin is enough or even realtyhop, but I found Lance analysis is one depth more detailed than Redfin, amazing what small team can do, sometimes I ask him for small feature request.
Definitely need BrightInvestor to do this in-depth look and it's $99 instead of $299