The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) w/Dave Meyer
Description
Choosing where to invest can be overwhelming. With thousands of real estate markets and endless data to wade through, it’s no wonder that so many rookies trip up on this step before they ever get started. Well, we’ve got a brand-new tool that’s about to make your job a whole lot easier!
Welcome back to the Real Estate Rookie podcast! Dave Meyer, Head of Real Estate Investing at BiggerPockets, has developed a market research tool to help more investors find their market. And today, we’re putting it to the test! Join Ashley, Tony, and Dave as they walk you through the process of choosing an investing strategy, building a buy box, and picking a market that aligns with your long-term investing goals. As they dive into the data, you’ll find out where each of them might invest if they were starting over today!
But that’s not all. In this episode, you’ll also learn how using ChatGPT can accelerate real estate market analysis and why it’s so important to niche down to zip codes. Finally, you’ll learn to avoid overanalyzing a market by sticking to a few data points that fit your investing needs!
In This Episode We Cover:
How to use data to find your real estate market (and which data points matter!)
Where Ashley, Tony, and Dave might invest if they were starting over today
The new (and free) BiggerPockets tool that offers a different look at the housing market
Why you should choose a market that supports your strategy (and not the opposite!)
How to use ChatGPT as your secret weapon for faster market research
Why you must niche down to neighborhood when deciding where to invest
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Ask Your Question on the BiggerPockets Forums
Find Investor-Friendly Lenders
See Ashley and Tony at BPCON2024 in Cancun!
Download Our Free “Where to Start” Market Research Tool
Niche Down to Neighborhoods with NeighborhoodScout
Analyze Your Market with BrightInvestor
Buy Dave’s Newest Book “Start with Strategy”
Find an Investor-Friendly Agent in Your Area
See Ashley and Tony at BPCON2024 in Cancun!
(00:00 ) Intro
(05:35 ) Why Is Market Research Important?
(08:36 ) Where Tony Would Invest
(13:38 ) Niching Down to Neighborhoods
(18:18 ) Where Ashley Would Invest
(24:39 ) Choosing Data Points
(26:57 ) Where Dave Would Invest
(30:21 ) Go Find Your Next Market!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-452
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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