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Checking Out the Neighbrohood Can Assure Cash Flow Success | International Residential Real Estate Investors Association
Monday January 22nd 2018

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Checking Out the Neighbrohood Can Assure Cash Flow Success

Investors often don’t spend enough  time analyzing the neighborhood’s potential impact on the  proposed investment.  Some tips I  recommend are:

  • Spend time touring and understanding the  neighborhood,
  • Checkout the crime factors,
  • Assess shopping,
  • Assessing employment,
  • Look at the local demographics
  • Check out the schools

For the neighborhood a good look requires spending a weekday and night in the area, a Friday day and night, and a Saturday day and night.  This will tell you much about your purchase (and if it’s multifamily, a lot about your residents as well).

The local police office can give calls by apartment complex and by area.  This is very important.  You should also review local news for any activity.

You should have a list of local businesses, eateries, etc. within the immediate area.  This is important to assess the appeal of the property and for future marketing.  You may want to put this on a website about your investment.

Employment is much like business, shopping, and eateries.

Census normally offers very good demographic information which can be a key to the economic and rental trend of the area.  Also, this can tell you whether you are considering a sinking ship or if this is a boat on a rising tide.

Schools normally provide information about testing results, colleges students are attending, the percentage going to college, and more.  Also, new schools are often a strong draw for residents.  Locate near a good school and you likely will have a strong rental base.

There is much more to consider, but taking the time to look at these items can help you assist the ability to rent, the likelihood of rent increases over time, potential vandalism and crime issues, required security reactions, plans for marketing and property websites, plans for improvements and needed expenses to assure your property success.  Obviously, the neighborhood assessment is a major investment activity.

Blake Ratcliff

“The IRREIA - Making residential real estate investing more fun and rewarding
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