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All Forum Posts by: Devin Conley

Devin Conley has started 1 posts and replied 22 times.

Post: Should I Buy My First Rental Property Out-of-State If I'm Unable to Scout the Area?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Diana Teng great thread you kicked off here! Loving the discussion and exciting moves starting this process.

Personally, I would not invest in a property without first visiting the area. I think there's a huge amount that you can learn on the nuance and feel of a city just by spending time there. Also it will be a lot easier to meet folks and build a team when you can connect in real life.

Keep in mind, you’re probably not going to be jumping between markets for every deal. Focusing on just a few markets gives you efficiency at scale with your team and process. So visiting a new market in person the few times you decide to expand shouldn’t be too much of a hassle.

All that said, there's a ton of research, analysis, and learning you can do remotely to help narrow down your search before actually visiting in person.

Here's a couple visuals/comparisons on some of the areas mentioned in this thread. Let me know if you are interested in checking out a full analysis!

Post: 2024’s hottest ZIP codes and hidden gems

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Interesting view to surface some of the most active housing markets! Thanks for the share @Neil Narayan

And good point on considering other metrics like home value growth, price drops, etc @Ryan Kelly

For anyone interested, here are some visualizations on these zipcodes

Post: Seeking Tools to Track Residential Rental Market Trends and Insights

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Maurizio Pisciotta are you looking for total rental units (including vacant vs occupied) in a market? or are you thinking more about the number of active listings that are being advertised?

We are doing a lot of work on indexing and analyzing historical market data. Happy to chat more about your use case if you interested.

Post: Nevada, Ohio, Michigan, Pennsylvania Out of State Investing

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Tove Fox ! Definitely a smart move to consider some out-of-state options before diving into a first investment property. And good set of areas you are looking at!

Here's a bit of visualization/data on some of the markets mentioned in this thread. Let me know if it'd be helpful to check out the full analysis.

Post: Best market for first house hack to cash flow? FL, TX, AZ, UT, other?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Kegan Scholl exciting moves! And sounds like a good set of options you are looking at.

Here's some data and visualization on recent trends in some of the markets mentioned here. Hope this is helpful and let me know if you want to see the full analysis!

Post: Best zip codes for investing in Huntsville?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11
Quote from @Brian Piechocki:

Hey @Brian Piechocki! Most of the data processing is done in python and visualizations are done using the bokeh plotting library.

Drop me a message if you are interested in learning more!

Post: Best zip codes for investing in Huntsville?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11
Quote from @Minh Nguyen:

Whoops sorry forgot to mention. 

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. 

it's a estimate to tell you what properties to analyze vs ignore

you can see the are pockets of negative returns as well as pockets of positive return. 

this is to supplement the data @Devin Conley provided

I like the cash on cash return visualization @Minh Nguyen ! Very useful view.

Curious, where are you pulling numbers for local mortgage, insurance, and tax rates?

Post: Best zip codes for investing in Huntsville?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11
Quote from @Michael S.:

@Minh Nguyen - what do those percentages represent?

@Gloria C. - there is no absolute answer to your question.  The data @Devin Conley posted is pretty solid from my experience (I do not know Devin nor how he sourced the data, just going by my own investing experience).  

If you want better cash flow, 35805, 35810, 35816, and 35811 are likely the choices.  But this comes with pockets of C/D neighborhoods, and higher potential for headaches;  in addition, appreciation in these zips has probably maxed out for a while.

@Michael S. great to hear the local perspective!

 Data is sourced from a combination US census, zillow, and realtor

Post: Best zip codes for investing in Huntsville?

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Gloria C. -- lots of factors to consider (including your personal strategy), but here are a few high level metrics to compare the most populous zip codes in Huntsville

Welcome to drop me a message if you are interested in checking out the full report

Post: Best Apps for Analyzing Real Estate Markets: Share Your Experience!

Devin Conley
Posted
  • San Diego
  • Posts 23
  • Votes 11

Hey @Liam Alvarez -- interesting discussion you kicked off here! I actually happen to be working a new project related to exactly those questions. Do you have any specific cities you are considering? Happy to put together some sample reports and market comparisons.