This is city is block-by-block
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This is city is block-by-block
I hear the same thing from almost all the investors and professionals in indie - this city is block-by-block. What does this actually mean? It's hard to take a relatively large neighborhood or area and say, the population here is like this and the house prices are like that, because 3 streets can be excellent and safe and then a few blocks away, everything changes and the area already becomes a low-income or high crime area. There is nothing to talk about impudence at all. An example of such an area, is called Little flower - that its eastern side is excellent with houses at 120K 150K and beyond, and as you move west, the surface of the area changes, the population changes and property prices fall accordingly. There are of course many other areas in the city that behave similarly. For investors who are out of town, this can be a no-brainer, meaning exploring the city becomes a more complex task. It requires conversations with a lot of agents / real estate people to get to know the city better, it requires tracking certain areas, and it requires working with a field person (people) who needs to send him to the property and guide him to bring us the necessary information.
How do I deal with it?
Instructs my field people what to pay attention to when they are at home and what information exactly is important to me. Makes sure to get videos and photos of the house, the immediate surroundings and the street. A virtual map is maintained on Google, in which I mark all the areas I already know and / or explore. In this map I mark both houses that have been sold (which I know because I was interested in them) and rental areas that I already know. All of these help me get to know the city better and decide quickly if I am interested in a home in any area or not. This block-by-block phenomenon exists in many cities in the US, and the effort to explore and understand the city is part of our work as entrepreneurs.
peace out!
Here's a little snippet from the interactive map I'm managing -
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