Cash Flow Friday Tip #6: Quickly evaluate new markets with these 4 free resources

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 20 February 2015

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's Cash Flow Friday tip I'm going to share with you the 4 free resources we use in our business to perform a quick and dirty evaluation of a market

#1: www.BestPlaces.net - this site provides info on cost of living, quality of schools, population, crime rates, unemployment rate, house prices and all of this can be search by zip code or by city and state.

#2: www.City-Data.com - this site is somewhat similar to best places, but goes into a little more detail and even includes things like recent sold comps, a sex offender search, more detailed demographics, a breakdown of neighborhood data by zip code, building permit data, etc. This site is best for a more detailed and specific research

#3: www.RentOMeter.com - Want to know what the market rents are for a given zip code or city/state? Then rent-o-meter is free and easy to use and will give you the quick and dirty data needed to see what properties are renting for in your market.

#4: www.Craigslist.org - We use craigslist for a multitude of things including; checking the local rental market competition - how many properties similar to mine are there available, how long have they been listed, are they offering move-in incentives.

Another thing we do is we run test ads to determine the demand within a given market for the type of property we're about to bring to market i.e., mobile home, apartment, SFR, etc. Some of you might find this misleading and unethical, but when looking to acquire a property within a new market I want to make sure there is plenty of demand before we commit to buy.

I'll talk in more detail about this particular system we use for running craigslist test ads in next week's Cash Flow Friday tip.

Transcript

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0:00.0	Welcome to Kevin's Cashflow Friday Real Estate Tip, where Kevin shares with you strategies
0:09.8	and tips that will help increase your cash flow, make you a more sophisticated investor,
0:14.8	and provide you with the tools necessary to take your real estate business to the next level.
0:19.4	Now, here's the man you've been waiting for, Kevin Bub.
0:23.6	Hey guys, Kevin Bubb here with episode number six of the real estate investing for cash flow,
0:28.5	Cashflow Friday tip.
0:30.3	Thank you for joining me today as I share tips and strategies that will bring you a ton of
0:34.5	value and help take your real estate business to the next level.
0:38.3	In this week's Cashlow Friday tip, I'm going to share with you the four free resources that we use in our business to perform a quick and dirty evaluation of any given market.
0:47.6	The first one that we use is bestplaces.net. Again, that's best B-E-S-T, places, P-L-A-C-E-S dot net.
0:57.9	And this site provides, it's, well, it's free.
1:00.3	First off, all these I'm going to talk about are free.
1:02.4	And this site provides info on cost of living, quality of schools, populations, crime
1:08.3	rates, unemployment rate, house prices.
1:10.8	And the beautiful thing about this is it can all be searched by zip code. populations, crime rates, unemployment rate, house prices.
1:16.9	And the beautiful thing about this is it can all be searched by zip code or by city and state.
1:18.6	And we always use this tool.
1:20.1	This is kind of like my first go-to.
1:25.7	And then onto the second tool that we use, which is kind of a more expanded version of bestplaces.net,
1:30.2	the second tool is city data.com. And that's city-hyphen data.com. And this site is somewhat similar to best places, like I said, but it goes into a little
1:36.5	more detail. It even includes things like recently sold comps, sex offender search, more
1:42.1	detailed demographics, a breakdown of neighborhoods by zip code.
	...

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