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.
I recently had a conversation with another investor who was adamant about finding investment properties that met the 2% Rule. This was their primary criteria for offering on rental property. Our conversation went something like this. 2% Investor: What rent-to-price ratio are you getting on your properties? Me: About 1.25%. 2% Investor: That’s not very good. You should shoot for 2%. I’m hitting 2% on my properties. Me: Umm, well…. That’s great. (nice comeback) Other than me feeling a bit patronized, what can you gather from this brief dialogue? Did you think it was … continue reading.
I don’t know about your internet research habits, but if you were to look at my internet browser, you’ll see at least a dozen tabs open at one time. This gives my wife anxiety whenever she borrows my computer. I have a problem closing tabs out of fear that I’ll need to refer back to them again so I leave them all open. My Excessive Tab Disorder (ETD?) gets even worse prior to taking a trip to an out-of-state market. Why? Because I would have a standard Google map open for every property that I plan … continue reading.
I’m riding passenger side with my realtor who’s just picked me up from the hotel I’m staying at. I’m scouting out a new market and it’s my first visit to this city. I’ve done a lot of research upfront and have my notebook in hand with a map printed out on my lap. I feel prepared. We begin our drive and naturally start to get to know each other better while also talking generally about the city. The conversation may sound something like this. Me: So are you originally from <insert name> … continue reading.