BiggerNews: The “Clues” That Point to a Phenomenal Investing Neighborhood

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 18 October 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are there “clues” that point to phenomenal real estate investing areas? We mean the areas nobody knew about until it was too late. The neighborhoods that seem to jump in price overnight, and everyone ends up saying, “I should have bought there when I had the chance!” What if there was a way to easily identify WHICH areas are in the “path of progress” and could make you serious wealth IF you buy today? We brought in an expert with two decades of experience picking these markets. James Dainard is a rental property investor, house flipper, private money lender, and every other role you can think of in real estate. He’s been investing primarily in one market for his entire career: Seattle, Washington. But, even though he’s sticking to this specific market, he’s diversified by having investments all around the entire metro area, even in places most people wouldn’t DARE to buy in. Today, he’s sharing his secrets, showcasing precisely what he looks at to identify these hidden but growing real estate areas WITHIN a market. We’ll discuss whether you should focus on the deal or the neighborhood first, “clues” that point to a solid investing area, why zoning will become your wealth-building best friend, and how to identify markets with solid cash flow or appreciation. In This Episode We Cover: The “clues” that point to a rising real estate area most people DON’T know about yet Whether to choose a neighborhood FIRST or evaluate a deal based on its neighborhood The magic of “upzoning” and how James uses this to boost his portfolio’s worth The “path of progress” that will have your home value rising FAR faster than others What to be cautious of when investing in a new area (these could ruin your real estate deal) Data sources you can use right now to pinpoint exactly where to buy And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Grab James’ New Book, “The House Flipping Framework” Find an Investor-Friendly Agent in Your Area Is That Neighborhood Up-and-Coming? Here’s How to Tell Connect with James Connect with Dave (00:00) Intro (02:35) Neighborhood or Deal First? (06:51) “Clues” of a Great Neighborhood (13:14) This is CRUCIAL (19:57) The Path of Progress (25:41) Stay Away from This (31:44) Do This FIRST Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1032 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We talk a lot on the show about picking the right market to invest in.
0:04.8	But even when you do that and find the right market for you,
0:08.6	there is still more work to be done.
0:10.8	Markets, generally speaking, are pretty big and they have a lot of different
0:15.5	neighborhoods, a lot of different blocks that have different characteristics and offer different
0:20.0	types of returns for investors. Some are well established with home values that are pretty high. Some are rapidly
0:28.0	changing and have a lot of turnover. So how do you choose which neighborhood is the right place for you to invest to meet your real estate goals?
0:36.4	That's today's topic on bigger news.
0:46.8	Hey everyone it's Dave Meyer hosted the BiggerPockets real estate podcast and today to help answer the question how do you choose the right
0:51.6	neighborhood I'm joined by my friend and on the market co-host James Daynard.
0:56.0	James has been in the real estate business for almost two decades. He's flipped I think literally thousands of houses and owns thousands of units.
1:03.7	And what's cool is that James has actually done this all in one metro area.
1:08.4	And so for him to be as successful as he has been,
1:10.9	he's had to get very good at identifying the right neighborhoods and
1:15.4	matching them to the strategies that he's using at the time. So James is going to be
1:20.4	the perfect guest, perfect person to talk to about this topic.
1:24.4	A couple of things I'm super excited to drill down on with James are what types of data is
1:29.6	available to investors at a neighborhood level and how do you use that to pick neighborhoods.
1:34.7	Then I know I'm the data guy, but I want to talk about what non-data information you can use
1:39.2	to help you identify the path of progress.
1:42.6	And we'll talk about how strategy plays
1:45.3	into neighborhood selection, because some types of neighborhoods
	...

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