#367: How I Analyze ANY Real Estate Market in 15 Minutes for FREE!
Oct 28, 2024
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Discover how to analyze real estate markets in just 15 minutes! Learn to identify high-growth areas and strategically target investment locations, including hidden gems in satellite cities. The process integrates easy online research and makes use of tools like Zillow. With step-by-step guidance, you'll be equipped to make informed decisions, even when investing from afar. Plus, find out how to build a reliable team to support your long-distance investment journey!
Identifying rapidly growing 'economic sun' cities through simple Google searches lays the crucial groundwork for profitable real estate investments.
Exploring nearby 'satellite' cities helps investors find affordable housing options that complement the growth opportunities presented by larger economic centers.
Deep dives
Finding Promising Markets
Researching potential investment locations starts with identifying rapidly growing cities, often referred to as 'economic suns.' A Google search for the fastest growing metro areas can reveal key cities exhibiting strong growth trends. For instance, cities like Austin, Texas, and Raleigh, North Carolina, are highlighted due to their robust job markets and economic opportunities. Selecting a city based on this macro growth trend sets the foundation for more detailed analysis and investment opportunities.
Evaluating Satellite Cities
After identifying an economic sun, the next step involves exploring nearby satellite cities that offer affordable housing with economic potential. These satellite cities, or 'surban' areas, provide a balance of urban amenities and suburban affordability. For example, Easley, South Carolina, near Greenville, is characterized by its smaller size, appealing downtown, and ease of commuting to the larger economic center. This strategic approach allows investors to discover hidden gems in the real estate market where growth and affordability intersect.
Researching Actual Deals
Once potential cities and satellite locations are identified, investors should conduct thorough research on recent property sales in these areas to confirm the viability of investments. Tools like Zillow enable quick access to rental data and historical sales, assisting in the assessment of potential profitability. By analyzing properties that recently sold, investors can gauge if prices align with rental income expectations, thus determining if the investment is worthwhile. This practical analysis, combined with local insights, equips investors to make informed decisions before purchasing.
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🎙️ Episode #367 – Looking to invest long distance but unsure how to pick the right market? In this episode, I share my simple, step-by-step process for finding profitable markets, even if you’re investing from afar. I’ll show you how to target high-growth areas and quickly analyze property deals —all in under 15 minutes!
▶️ Next Episode: How to Build your Team — for Long Distance Real Estate Investors