16: How to Pick Your Perfect Market: Cleveland vs. Columbus Case Study! with Dave Meyer and Jamie Gallagher | Bigger Pockets Podcast
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: link
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