Before you buy your first rental property, you’ll need to choose a real estate market. If you’re like many Americans, your own backyard may not offer what you want out of an investing area. So, where do you go to find cash flow or appreciation? Today, we’re walking you through choosing a real estate investing market, the metrics to look for, signs of growth and decline, and which markets offer investors the biggest benefits.
How hard is it to do market research? If you have access to the internet, you can research a market in a matter of minutes. But knowing WHAT to research is the most crucial part. Dave Meyer, VP of Market Intelligence at BiggerPockets and host of the On the Market podcast, shares his steps to market analysis and how he analyzes each market to ensure it’ll make him the most money in the long run.
We’ll touch on population and migration, supply and demand, vacancy rates, rent-to-price ratios, landlord vs. tenant-friendly states, and the telltale signs that a market will have high or low cash flow. So before you buy your first or next rental property, make sure you do THIS research!
David:
This is the BiggerPockets Podcast Show 886. What’s going on everyone? Welcome to the BiggerPockets Podcast. I am your host, David Greene, joined today by Henry Washington and Dave Meyer. Gentlemen, what’s going on?
Henry:
Hey, hey, what’s going on, David? So when I record with both of you, is it like, “Who’s David and who’s Dave?”
Dave:
I’m Mr. Meyer. Please, call me Mr. Meyer for the rest of the episode.
Henry:
Well, I won’t be doing that, but we do have a great episode for you today. And you know when Dave Meyer is here that we’re going to be talking something about data or numbers or economics or foreign policy or something else nerdy.
Dave:
I feel like I’m getting typecast a little bit, like there’s this always that actor who’s always the really boring, weird uncle or something like that. I’m just only always, even in my…
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