People ask me all the time why I invest where I do. I don’t live in Kansas City and I don’t have a personal connection there. When I did my research though, I realized that it had strong real estate fundamentals so I looked to build a team there. I always tell people not to pick a real estate market based solely on personal preference or circumstance. Instead pick a market using objective factors that actually impact real estate demand and value. I look at 5 major fundamentals to understand a real … continue reading.
Yesterday, I talked about how population research is one of the fist steps to understanding any real estate market. In today’s post, I want to spend a few more minutes sharing a tool I created to level up my population research. If you haven’t read the Investor’s Guide to Population Research, be sure to check it out first. It’s packed with information and resources to get you started. Here’s a brief refresher. The advice real estate investors often hear is to invest in a growing population. Sounds simple. The reality is more complicated. A market can … continue reading.
Have you ever walked into a 31-flavors Ice Cream and just stood there completely undecided? For anyone with a sweet tooth like me, you know how this indecision feels. There’s a plethora of options to choose from! From the classic Chocolate Chip Cookie Dough to the sweeter Pralines and Cream. I also love anything with a coffee flavor. 3 samples later and I usually just opt for the Chocolate Chip Cookie Dough. Similarly, when you’re picking a real estate market to invest in, the vast array of options can be overwhelming. There are your local … continue reading.
Investing in real estate can be a risky business. Some risks are to be expected. When owning a rental, there’s going to be periods of vacancy. Heck, I just experienced over a 2 month vacancy. There’s also going to be maintenance and repairs that as the owner, you’ll need to budget for. While all rental properties are susceptible to these risks, other risks can be disastrous. Some homes are located in very high risk areas just waiting for a calamity to strike. Take what happened this past summer for example. The massive Blue Cut wildfire … continue reading.
Last time, I talked about our wine tasting on a budget trip to Temecula. This time around, I wanted to delve into the Temecula real estate market. Now, I’m sure some of you are thinking, “I’m nowhere near Temecula and don’t intend to buy any real estate there so why even bother reading this post?” The truth is, the steps I take below to analyze the Temecula real estate market are the same as analyzing any market. Whether Temecula, Chicago, or any other city. You can take the same steps to learn … continue reading.
In this post, I want to share 8 signs for identifying an out-of-state real estate market to invest in. Truthfully, these are positive signs to identify a good market anywhere, whether local or not. By market, I’m talking about a large metropolitan area like Atlanta, Denver, or Memphis. So the tips in this post will focus on higher level macro factors to help you evaluate a large city. Factors such as school ratings, crime statistics, and other demographics won’t be covered here since they are more relevant to identifying sub-markets (i.e. neighborhoods) within the … continue reading.
The US Census Bureau released data on the fastest growing cities in the nation and there definitely seems to be a trend. The below list ranks the 15 fastest growing cities by percent gain with a population of at least 50,000 or more between July 1, 2014 to July 1, 2015. The US Census Bureau also ranked the top 15 cities that added the most people between July 1, 2014 to July 1, 2015. Some highlights: 14 of the fastest 15 growing cities by percent gain were located in the South and West. … continue reading.