#367: How I Analyze ANY Real Estate Market in 15 Minutes for FREE!
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 28 October 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:
https://www.coachcarson.com/rpm
🎙️ Episode #367 – Looking to invest long distance but unsure how to pick the right market? In this episode, I share my simple, step-by-step process for finding profitable markets, even if you're investing from afar. I'll show you how to target high-growth areas and quickly analyze property deals - all in under 15 minutes!
▶️ Next Episode: How to Build your Team — for Long Distance Real Estate Investors
📄 Show Notes:
https://www.coachcarson.com/analyzeanymarket
🎬 Timestamps:
0:00 - What if you're long distance?
0:46 - A simple Google search
2:07 - Pick your "sun" city
4:52 - Pick your "satellite" city
7:22 - Can you buy a deal here?
16:13 - Find the key team members
🔗 Links to Analyze ANY Market:
- https://www.google.com
- https://www.google.com/maps
- https://www.wikipedia.org
- Big Shifts Ahead by John Burns: https://a.co/d/h0jXo6y
- https://www.zillow.com/rental-manager/market-trends/united-states/
- https://www.zillow.com
- https://www.zillow.com/rental-manager/price-my-rental/
--------------------------
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https://www.coachcarson.com/toolkit-pod
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🐦 https://twitter.com/CoachChadCarson
💰 DealMachine – Software to help you buy more real estate deals: https://www.coachcarson.com/dealmachine
Transcript
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| 0:00.0 | So you live in a high price market where rental investments don't make sense and you want to invest somewhere else long distance. |
| 0:05.5 | But as you start searching, the options seem overwhelming. |
| 0:08.5 | Which of the thousands of cities and neighborhoods are good places to invest? |
| 0:12.3 | How do you research a place online and trust that you're not missing something important? |
| 0:16.5 | Now, as someone who's invested in real estate for 21 years and who owns some of my rental units thousands of |
| 0:21.3 | miles away, I've created a framework that I used to quickly pick a great investing market. |
| 0:26.1 | And in the rest of this video, I'm going to draw out my system for you step by step |
| 0:29.5 | and also use free online tools that will help you pick and analyze your market so that you |
| 0:34.2 | can start buying rental properties and building wealth as soon as possible. |
| 0:46.0 | So I want to start by giving you five steps to finding a new investing market. |
| 0:50.1 | And then I'll go into more depth on a couple of the key steps and give you some free tools |
| 0:53.8 | that you can use to evaluate your own market. And the first step is just really simple, is to do a Google |
| 0:59.6 | search of top fastest growing U.S. metro areas or whatever country you're in do the fastest growing |
| 1:06.1 | metro areas. But when I did this exact search, I found a particular chart in an article that I found |
| 1:11.0 | really interesting. And it just had a list of 20 cities in the U.S. who had a lot of growth |
| 1:16.0 | recently and were projected to have more growth. And it was cities like, number one, Austin, Texas, |
| 1:20.4 | Raleigh, Kerry, North Carolina, Orlando, Florida, Charleston, South Carolina, Houston, Texas, |
| 1:25.2 | Sarasota, Bradenton, Florida, San Antonio, Texas, Dallas, Fort Worth, and the list goes on. |
| 1:29.7 | It includes some cities in Tennessee, Arizona, Charlotte. A lot of cities in the south and the west, by the way, which is an interesting bigger picture trend. |
| 1:38.4 | But my point here is you do a search like this and you don't have to be perfect with it. If you already have an affiliation with a certain city, great, start with that. But it'd be nice to have something that already has a pretty big picture macro growth trend for that metro area. So just do a little bit of quick research on that. And I want you to pick one. And this is where if you have any personal preference or you already have an affiliation, you have family there, you have friends there, You went to the university there. Whatever the reason is fine. I don't think you need to |
| 2:03.9 | overthink this. But you pick one city because I want to go to the next step, which is called |
| 2:08.2 | picking a sun city. And I'm going to need to explain this by with a metaphor. So this is a metaphor |
... |
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