Thank you! This really helps, now I know where to begin!
Appreciate the insight!
New investor here! Looking for advice on picking a market or an area where to start my mailers. I’m on the east coast and not locked to specific location as I work online. Do you have any tips on things to consider for picking a good area to find motivated sellers?
Paulo Munera Hi! if you check module 2, I think there's all you really need there. Then you can personalize it as you think is better for you. In my case I decided to make a spreadsheet where the first Sheet (State search) is divided into 8 columns respectively depicting:
Arturo Thanks! this is really helpful information!
Arturo hey thanks for the insight! New here as well.
With that, do you get concerned if there are a large number of properties sold in the last 6 months, but not many for sale? Makes me concerned that the market is almost too hot and people wouldn't want to sell me their land.
Arturo Great post thank you. Do you mind sharing where you get the data for the first 4 criteria (mig. growth, inbound/outbound, pop growth, UVL).
Adam Dyer what I did was to consider both (ON SALE and SOLD). The reason is that, in my mind, ON SALE listings should be a good indicator to understand how easily i could buy (theoretically, more the sellers, better the chances), while SOLD listings are supposed to inform me about how easy it could be for me to find buyers (in this case, more the buyers, better the chances). That said, due to the fact that the selling part seems to be the most challenging one in the business, my preferences went to those Counties where the SOLD listings were higher than the ON SALE ones.
Competition: reading around I essentially see 2 different approaches used by experienced investors. Some is chasing areas that are not top ones (according, for example, to the demographics) in order to be able to work in a less competitive market (example: David Van), others are simply not afraid of competition at all, on the contrary they consider it a an indicator of a good market (example Mike Ferreira). So I don't think there is a general rule and yes, I have your same doubt and I just decided to go where the deals are but only experience will tell me if this approach was good enough :).
Arturo that makes sense. Excellent way to sum that up. I appreciate you for that. Going to be sending out my first mailers soon! Best of luck to you.
Wesley Hubbard hello. You can check the following:
https://kutv.com/news/nation-world/where-are-americans-moving-report-shows-migration-to-western-southern-states#:~:text=A new 2020 U.S. migration report from North,You can check out an interactive map here.
For the last one, once into the wikipedia page, look for the "State and Territory Ranking" Table, which is pulled out from the Census.
I hope this can help.
Arturo Awesome, thank you sir. Appreciate it!
All over the place Houston TX
Florida, Alabama, Louisiana, Tennessee
I think you will find this helpful go to Data Tree
You will find all the info here so much more as well.
Lana Fuhrmann thanks that’s what I’m finding out.