How to Pick Your Perfect Market: Cleveland vs. Columbus Case Study! with Dave Meyer and Jamie Gallagher
What better way to learn a concept than a real-life, real-time case study?
Today, we listen in on rookie investor Jamie Gallagher as he compares and contrasts two markets. Meanwhile, BiggerPockets' data wiz David Meyer is there to walk him (and us) through the numbers.
You'll learn how to use population growth, rent-to-price ratio, rent-to-income ratio, and historical performance to weigh the pros and cons of various markets so you can compare apples to apples.
These aren't the only factors to consider, but this episode will give you a solid grasp of the basics and put you way ahead of most investors in your search for a market that makes sense for you and your goals.
Be sure to check out BPInsights, the new Pro member benefit bringing you fresh, local real estate data, at biggerpockets.com/insights (use the promo code "ROOKIES" for a discount if you're upgrading to Pro!). And you can find more of David's work in BiggerPockets Wealth magazine at biggerpockets.com/magazine.
In This Episode We Cover:
- The most important data points to consider when choosing a market
- What rent-to-price ratio is
- What rent-to-income ratio is
- How to look at a market's performance throughout economic cycles
- How job and population growth affects appreciation
- What types of employers to look for
- Quality of life factors
- Analysis of Cleveland vs. Columbus, Ohio
- Advice for a future house hacker
- And SO much more!
Links from the Show
- Real Estate Rookie Facebook Group
- Felipe's Instagram
- Ashley's Instagram
- BiggerPockets Podcast
- Rookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse Rasmussen
- BiggerPockets Wealth Magazine
- BiggerPockets Pro
- Case-Shiller Index
- BiggerPockets Insights
- Zillow
- BiggerPockets Calculators
- BiggerPockets Podcast 379: What the Numbers Reveal About Today’s Rents, Prices, and Top Cashflow Markets with Data Scientist Dave Meyer
Check the full show notes here: http://biggerpockets.com/rookie16
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