Find the best areas to invest

The last thing you want to do is invest in a real estate market that has a weak rental market or low property demand. With that in mind, there are a few things you need to check before moving forward with your investment:

Here are the ten factors that you should think about:

1. Job Growth- Job opportunities are what drive population growth, and a strong job market is an indicator of future population growth.
2. Population Growth- Population growth is important because it shows a high demand for housing
3. Job Diversity-You want to find an area with a variety of industries supporting the local economy.
4. Landlord/Tenant Laws-Find landlord friendly areas and get acquainted with the local tenant laws
5. Taxes- Taxes make an impact on your bottom line. State income taxes and property taxes will both impact your operating budget
6. Geographical Features-Use Google Maps to check out the actual, physical landscape of the area. Look for physical barriers like a body of water, a mountain range, or any other geographical features that could inhibit the physical development of the area.
7. Cost of Living-By seeking out an area where the cost of living is low, especially in comparison to the median income in the area, you’re more likely to experience growth.
8. Local News-Get information on what’s happening in the area. This will help you understand the local economy and potential future of that market.
9. Local Government-The local government will have an effect on the area’s future standings so it’s a good idea to invest in an area with strong, local leadership that supports new initiatives and has positive visions that make the market more welcoming.
10. Whether You Have an Unfair Advantage- there is a chance that you may have greater insight into a certain area especially if you have a friend or family member that lives there. Anytime you have this advantage, you should pay closer attention to that market because local connections can put you ahead of other investors. Use this to your advantage!

As mentioned earlier, there are a lot of things to consider when it comes to investing in real estate. We’ve highlighted some of the most important, but also know that there will be more of a selection for location as well as other factors that are important to your individual needs and preferences.

The number one thing to keep in mind when deciding whether or not to invest in the real estate market is your personal situation. What are your goals for the next five years? Are you looking for a potential place to live, a potential investment opportunity, or something else entirely? The differences between these markets may be negligible for some investors, but they could have a huge impact on another’s business.

While there is no one-size-fits-all answer for investors, looking at the numbers provided above can help you begin to narrow down which markets might be a better fit. We can help you navigate this and find the good deals that truly represent your unique desires and present situation.

If you want to talk about what markets I'm looking to invest in, set up a time to talk here .

To Your Success,

Ben