Choosing a Market

What Market will you Choose

This module will guide you through the steps to help you pick out a market that you want to invest in.

Here's the thing, you can most likely invest anywhere, there are just factors to consider, as well as what you think you might want to do. Whether you are going to buy and hold, wholesale, rehab flips and more.

What type of investing are you thinking of doing?

The types mentioned above are the most common but there are many others as well. Most of you have heard of buy and hold (rentals) and fix and flip but many probably haven’t heard of wholesaling. Wholesaling as it is commonly called is getting a property under contract and selling the contract vs selling the property. Its used a lot these days.

Check out this article on single family home investment strategies for an overview of the different methods and links to more details for each.

Wholesaling is also just buying low and selling higher to another business just like any other business there is a market for wholesaling. So don’t think the only way is to assign your contract.

So in an effort to not get too far into the weeds, I want to make it clear.

No matter what you are intending to do, you are looking for discounted properties so don’t get too tied up in figuring out exactly what you want to do.

Finding Discounted Properties is Key

As you find properties you can decide at that point what It makes sense to do with that specific property as well as your particular situation at the time you find it. Do not rack your brain trying to figure out what you want to do. Maybe you already know maybe you want to do them all. The bottom line is you need to start with finding discounted properties, and this module will help you start off on the right foot.

Look around KDS Development and bigger pockets and explore the different options in real estate. Look at real estate agents, wholesaling, buy and hold, flipping and more. Get an idea of what might make the most sense for you, but again don't stress about it. You can decide later.

Software to Aid Market Research

Although not absolutely necessary I encourage you to get propstream  or one of propstreams alternatives.

In our training we will be using propstream a lot. So once you download it get familiar with the interface. Watch all the training videos on their page. Some of the videos still show an older version that has a slightly different interface but they are good enough to get you familiar with it.

This program will be used in multiple modules. From choosing a market, to list building  (within the marketing module) to deal evaluation. 

It’s a great tool for building lists (cheapest list building), market and deal evalution, but currently we don’t use the direct mail and skip tracing as we have other sources for those that are much less expensive.

Budget minded option

So I'd like to say you should really try to keep this program for the long haul but for some that might not be possible.  Especially if you want to add any other tools.  Take this programs free trial and try to make a commitment for at least 3 months.  Once you get to the marketing area in this training you will need to build some lists to market to. 

3 months of this program will get you around 30,000 properties on your list which you will market to in the way that makes the most sense for you and your budget.  At a minimum Use it for one month and get 10,000 on your list.  You will get instructions on how to build your list in an upcoming module.  

This is the least expensive list you will find.  Around a penny per name so even if you just used it for list building you are saving money.  Even the top guru programs will only get you lists for around 3 cents per property from list source (normally 6-8 cents so thats not bad but a penny is better).

Using Propstream to Find Your Market

Watch the video below to learn how to find investor activity in order to pinpoint ideal locations near you (or outside your area) for investing.

Use Propstream to find a couple different markets that you are relatively close to. High investor activity and cash transactions is a great place to start investing.  

Once you have chosen a few markets, start looking for any groups on meetup.com that are in the area, Bigger Pockets as well as any facebook groups.  Once you have joined some of each (try to find 4 or more if at all possible) you can relax and move on to the next module.