Today we’re going to talk about market selection. How do you know which markets, neighborhoods, or areas are best for your specific investment model? This is an important question to consider as you set up your business.
The market you choose to invest in has more to do with the type of investing that you plan on doing than anything else. Certain markets are more conducive to house flipping because people tend to buy houses, while others are more conducive to rentals because people tend to rent. When you’re picking a market, it’s important to determine and remember what kind of investor you want to be. What is your goal?
If you want to be a wholesaler, you should be aware of what kind of investments your buyers are looking for–are they looking to flip or buy-and-hold? Then, you can determine if the majority of houses in each area are sold or rented, and there are a few ways to figure that out.