Trends & Statistics
As a real estate investor, it’s essential to know the market, and conducting market research on trends and statistics is a critical first step to understanding the local real estate investment market. For example, what are the average lease rates for a specific neighborhood? What types of properties command higher lease rates? Is single-family residential, commercial, or multi-family? What are the property tax rates, are why are they what they are?. Researching statistics will also help you to understand different target audiences better.
Additionally, researching trends and statistics will keep you ahead of the game in knowing about:
- New construction
- Home prices
This type of research can help rental investors to understand better the real estate market where then plan on investing, in general. That’s especially helpful when you’re just starting as an investor. The real estate market fluctuates regularly, and staying on top of trends and statistics will help you to monitor those fluctuations and know when to buy, the target market, and the market lease rate.
Legal and market research will also help you to understand what you should be looking for when you’re considering purchasing a new property to eventually rent out, as well as what people are looking for within those properties. No matter how experienced you have as a real estate investor, it always pays to understand the current trends, market, and the property itself and how it will affect your bottom line.