Harnessing the power of data gives you an enormous advantage in your real estate investing journey, allowing you to discover up-and-coming markets or find deals that are flying under the radar. While crunching the numbers might seem like hard work, there are all kinds of software, tools, and templates to lighten the load!
Welcome back to the Real Estate Rookie podcast! Today, data scientist Ariel Herrera returns to the show to offer more advice for investors who want to find the next BIG market (before it takes off!) and source better real estate deals. Whether you’re just getting started or already have a few rental properties under your belt, this episode is brimming with helpful tips—from niching down to specific neighborhoods to using artificial intelligence (AI) tools for EASY market research!
Tune in to learn which data points are most important when choosing a market and how to use “census tracts” to make an informed decision. You’ll also learn about the three biggest competitive edges you can gain in real estate (even as a complete rookie!). But that’s not all. Ariel will even show you how to craft a “map” of up-and-coming areas that best align with your investing strategy, long-term goals, and personal preferences!
In This Episode We Cover
The MOST important data points to consider when choosing your market
Why census tracts are your “secret weapon” for neighborhood analysis
Harnessing the power of artificial intelligence (AI) to streamline market research
How to create a “map” that helps you identify up-and-coming areas to invest
How to leverage data science and automation to find better real estate deals
And So Much More!
(00:00) Intro
(01:26) 3 Ways to Gain a Competitive Edge
(10:15) Which Data Points Are Important?
(17:31) Strategy-Dependent Data
(20:14) Other Crucial Data Points
(26:15) Building Your Investing “Map”
(31:41) Using Market Data to Find Deals
(35:09) Connect with Ariel!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-429
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