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How to Select the Best Markets
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As a new real estate investor, it is critical to know how to pick the best markets that will give you the highest returns on your investment. But many new, as well as veteran investors often turn to outdated market research and information published on the internet and in books.
On today’s episode, Jared and Tom dive into the do’s and don’ts of selecting the right markets for your investments. They explain what factors you should consider when picking a market to invest in, the effects of relying on old data to make investing decisions, and why it’s important to compare apples to apples while investing in real estate.
“More important than return on investment is return OF investment.” - Jared Garfield
In This Episode of ROI Wealth Watch:
- Why deciding what type of investor you are Is important when picking the best market for your investments
- How identifying the median foreclosure price can help you choose the right market
- What is the Affordability Ratio and how can it help you make smart investing decisions?
- Using the median age and median rent rates as a guide to choosing a market
- Factors to consider when choosing a market to invest in
- What to consider when looking at a market’s financials
- How market demographics can make or break a seemingly good investment
- Why you should keep an eye on economic changes and job growth statistics in a market you’re considering investing in
Wealth Watch Words of Wisdom:
- Understand market cycles and where the market is in that cycle.
- Buy during Sell during expansion.
- Look for job growth economies.
- Remember the power of demographics.
- Understand the impact of inventory, age, and property tax.
Resources Mentioned:
- EcoDev Directory
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Help Others Buy Real Estate in the Right Markets at the Right Times!
Thanks for tuning into today’s episode of the ROI Wealth Watch podcast with Jared Garfield - your resource for learning to buy real estate in the right markets at the right times. If you enjoyed this episode, head over to iTunes to leave us a rating and review. Subscribe to the show so you never miss an episode, and visit our website to grab your free gifts!
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