Numbers vs Neighborhoods

Numbers vs Neighborhoods

Houma, LA · Member since 2013 · 65 posts · 12 votes

Most of the blogs, podcasts, and books I have been reading just focus on the numbers when finding a deal. I started wondering if its just about a good deal or of there is more that goes into it. I live in a small-ish but growing town with not much investor activity that I can find anyway. I was wondering if there are areas that investors are more likely to buy in or if a good deal is a good deal and it does not matter where it is. If so can anyone explain to me what a neighborhood that attracts investors would have? Or what to look for?

I have read to check the tax assessor record and see who is buying multiple houses, it's around $260 or so for access to the tax assessor's web site. I have heard tax records were public record, canI go in person and ask for tax records or would it still be the same price?

Another piece of advise I found was to drive around and look for "for rent" signs. There are VERY few houses for rent here. I think it's a mix of not much investor activity and low supply vs high demand.

I do believe Houma would be a good place for investors, it has grown significantly in the past few years ,even bringing in new companies during the recession, and continues to show a solid growth rate.

Thanks for the responses and advice I appreciate everyone's time.

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  • Houma, LA · Member since 2013 · 65 posts · 12 votes
    13y

    bump

  • Real Estate Investor · FL · Member since 2011 · 586 posts · 360 votes
    13y

    It's about following deals. TRUE deals are extremely hard to come by so if you're only focussed on certain neighborhoods or certain types of properties you'll never be able to keep a consistent number of closings going month after month. I see a lot of people giving advice by telling new wholesalers to find out what investors want and just focus on those properties, which I disagree with. I've wholesaled houses, duplexes, triplexes, apartment buildings, vacant lots, mobile homes, condos, and just recently did two hotel rooms. When I find great deals, I always know I can find buyers.

  • Houma, LA · Member since 2013 · 65 posts · 12 votes
    13y

    Thanks. I appreciate your thoughts. It does make things a lot easier to just concentrate on finding deal then go from there.

  • Oakville, Ontario · Member since 2013 · 162 posts · 48 votes
    13y

    Braden C. In regards to your quote:

    "I've wholesaled houses, duplexes, triplexes, apartment buildings, vacant lots, mobile homes, condos, and just recently did two hotel rooms. "

    Approximately how long did it take you to learn about all these niches and how to determine if the deals were good? Also do you only use 2 contracts (1 contract for SF house, mobile home, duplex and vacant lot and another contract for commercial)?

    Thanks.

  • Real Estate Investor · FL · Member since 2011 · 586 posts · 360 votes
    13y

    Belinda Duhaney It took me a long time to get to a point where I had a steady flow of deals constantly closing. I spent a ton of time and a whole lot of money learning how to properly run a wholesale business. My suggestion to anyone looking to get started is always the same, have a detailed business plan, adequate start-up capital, and a desire to learn as much as you can possibly take in.

    The only time I would've needed a commercial contract was for an apartment building but the bank had their own contract that we used.

  • Oakville, Ontario · Member since 2013 · 162 posts · 48 votes
    13y

    Braden C. Thanks for your response.

    This is a silly question, but I need clarification. Please explain how you got a hold of the bank's contract for the apartment building.

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