The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) w/Dave Meyer

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 2 September 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 Tony's BiggerPokckets Profile Join BiggerPockets for FREE 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 BiggerPockets Market Finder BiggerPockets Glossary 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! Real Estate Rookie - Episode 429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, and Deals Connect with Dave (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 [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Real Estate Rookie Podcast. I'm Ashley Kerr and I'm here with Tony J Robinson.
0:06.5	And welcome to the podcast where every week, three times a week, we bring you the inspiration,
0:11.4	motivation, and stories you need to hear
0:13.4	to kick-start your investing journey.
0:14.9	Today we are going to really focus on how to kick-start your investing journey.
0:19.3	A lot of rookies don't know what market to get started in.
0:22.3	Should I invest locally, out of the
0:24.7	country, in space? The list is endless. I know I felt overwhelmed when I first
0:30.4	started, which is why we're going to be joined by Dave Meyer, the host of the Bigger
0:34.9	Pocket's Real Estate Podcast to show us a fun new tool BP has to offer to look at the housing market in a new fun exciting way.
0:44.2	Maybe after going through this, Tony and I will wish we had started somewhere else.
0:48.5	We'll find out in today's episode.
0:51.4	Dave, thank you so much for being here.
0:53.2	My pleasure. Thanks for having me.
0:54.8	All right, so Dave, the man, the myth, the legend.
0:57.2	Dude, I always love having you on the podcast.
0:59.1	Can you tell the Ricky audience
1:00.9	how we're going to be looking at market research in a new way on today's episode.
1:05.1	Yeah, so we at Bigger Pockets we put together a lot of different data sets.
1:09.8	We put together top cash flow markets or affordable markets.
1:12.8	But recently, I have been thinking about this question
1:17.0	of if I were starting over, where would I have done it?
	...

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