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 marketWhat rent-to-price ratio isWhat rent-to-income ratio isHow to look at a market's performance throughout economic cyclesHow job and population growth affects appreciationWhat types of employers to look forQuality of life factorsAnalysis of Cleveland vs. Columbus, OhioAdvice for a future house hackerAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupFelipe's InstagramAshley's InstagramBiggerPockets PodcastRookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse RasmussenBiggerPockets Wealth MagazineBiggerPockets ProCase-Shiller IndexBiggerPockets InsightsZillowBiggerPockets CalculatorsBiggerPockets 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