You want to get there first. You want to put your hard earned dolars to work in the money-making neighborhoods, not the expensive has been areas. How can you get to the vital insider info before the herd?
Here are four ways to do simple research.
1. Look around lower income nieghborhoods where there is already some visible renovation going on
This means you can still get in before prices rise. Whereever there are some rehabbers at work you can almost bet the farm there will be more. Momentum gets started and money flows into those areas.
2. Log into your county’s websites
Here’s where you can gleam the golden nuggets. Pay attention to the areas of roads, utilities, zoning and private development.
Is there new road construction planned? If so, that means city officials think there will be growth.
I s a new 100 unit delevelopment going up in an older neighborhood? Chances may be good you could do a rehab or two nearby on the outskirts.
Are there any zoning wars going on? That means people are trying to get into more established neighborhoods and they’re willing to fight for more newer housing.
3. Talk to real estate agents
They know the gossip, news and shop talk. That’s because it’s important for them to stay on top of things in their markets. Here’s where a power lunch or two can really pay off. Thnk of them as secret agents who move in the right circles.
4. Read newspapers
This is still the easiet way to gleam information. Why more real estate investors don’t use this resource is puzzling. Don’t forget local business journals.
Investors can get to the real local real estate information by applying one of all these easy, cheap methods without wiretapping the big guys.