Real estate investing is all about what you know. It’s important to stay informed on all of the key aspects of the real estate industry with an in-depth understanding of the details that are most important to your niche investment area and personal investment strategy. While an upfront education is a great place to start, you’ll need to dedicate yourself to your continuing education to succeed in real estate.
With a full toolbox of real estate resources, you can get into a successful routine of collecting all the details you need to tailor your strategy perfectly to the latest developments and moves in the markets. Here are a few resources you’ll want to stock your toolbox with.
Key Takeaways:
- Real estate investors need to know which organizations routinely evaluate the real estate industry so they can efficiently gather up-to-date data.
- Assessing demographic data from neighborhoods before purchasing real estate can help inform your investment decisions.
- Staying abrest of real estate trends is critical for making informed investment decisions no matter what your strategy.
National Association of Realtors
The National Association of REALTORS (NAR) is the largest trade association in America with 1,200 local and state/territory associations and over 1.5 million real estate professionals. NAR maintains the website Realtor.com where you can find a wealth of information on the latest housing trends, real estate news, market predictions, and industry insights.
The NAR website also maintains a wealth of information, including housing statistics, reserch reports, and data on both state and metropolitan areas. You can gain insights into home buying and selling trends, commercial real estate market data, and the appraisal process. NAR is a valuable resource for assessing the future of the real estate industry as well with reports Real Estate in the Digital Age.
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U.S. Census Bureau
The U.S. Census Bureau is the hub of demographic data in the United States. You can use the Census Bureau’s data to thoroughly evaluate different areas before making an investment in real estate anywhere. The American Housing Survey (AHS) collects data on the characteristics of homes, the demographics of local homeowners, and the geography of urban and metropolitan areas.
You can also evaluate census data from the Census Demographic and Housing Characteristics File (DGC). Use this information to evaluate any areas that you’re thinking of investing in so you can pinpoint those that are primed for a revival.
Neighborhood Scout
Neighborhood Scout is designed to match potential homebuyers with their ideal neighborhoods. However, it can also help real estate investors find the neighborhoods that they’re looking for. This platform contains more than 61,000 neighborhoods with data on over 600 characteristics, including median home values, real estate tax rates, average market rent, homeownership, housing details, and even the look and feel of a neighborhood.
As a real estate investor, you can use the tool to research lifestyle characteristics like first time homebuyers, young single professionals, and retirement dream areas to perfectly target your real estate investment strategy. You can collect information to help you find the ideal areas for purchasing affordable rental homes, fixing and flipping, managing a vacation rental, or house hacking. All the information is here, you just need to know how to utilize it.
RealtyTrac
RealtyTrac provides the largest listing of foreclosed homes in the United States. You can easily locate undervalued properties that are ideal for starting your new real estate investment portfolio. This site maintains a database of pre-foreclosures, foreclosures, bank-owned homes, and auction properties. If you want to fix and flip your property, this is the best place to start.
RealtyTrac can also help you find properties that are well positioned for wholesaling or renting. You can instantly calculate your return on long-term and short-term rentals to get the details you need to make key decisions quickly and easily. RealtyTrac is a go-to resource that every investor should bookmark. With the right education and guidance, you’ll be able to use this information to transform your real estate game.
CBRE
CBRE (Coldwell Banker Richard Ellis) is a real estate and investment firm that collects and aggregates real estate data on a massive scale. Drawing more than 39 billion data points from over 300 sources around the world, CBRE is equipped to provide an unparalleled resource for drawing real estate insights. A whopping 95 of Fortune 100 companies use CBRE technology to inform their decisions.
Trulia
Trulia maintains an extensive database of home listings for purchase or rent. This is a solid place to start if you’re evaluating how much homes are going for in a particular area. You’ll get the details you need to position your rentals or wholesale negotiations competitively. Trulia also offers neighborhood data so you can get a feel for the demographics and lifestyle trends in different areas and position your real estate strategies accordingly.
REDFIN
REDFIN is a great resource for market data. You can evaluate the housing market via both weekly and monthly market updates. REDFIN also follows trends specific to the luxury market and the rental market. Want to know what other investors are up to? REDFIN follows that, too, with regular reports on where they’re buying, what they’re selling, and how active the real estate investment market is.
As a real estate investor, you should put REDFIN in your regular rotation and review all the latest reports and information there as it comes out. This is an easily digestible way to keep your finger on the pulse of the industry.
National Association of Real Estate Investment Trusts
The National Association of Real Estate Investment Trusts (Nareit) maintains detailed information on REITs, including a REIT directory with the 1-year total return and stock price for each. REIT posts up-to-date details on the performance of equity REITs and mortgage REITs. The REITWatch monthly publication provides statistical information on the REIT industry as a whole so you can easily track trends over time. If you want to invest in REITs, you can’t afford to overlook this resource.
Real Estate Research Institute
The Real Estate Research Institute (RERI) conducts numerous studies each year which are presented at the annual Research Conferences. The 2024 conference promises to unveil the ‘Impact of Institutional Investors on US Housing Markets,’ ‘Green Real Estate Bonds,’ and ‘Beyond Office: The Implications of Sustainability for Commercial Real Estate.’ You can also review information in all of RERI’s recent working papers online to explore compelling topics in great detail and find your niche as a real estate investor.
Continue Your Education in Real Estate
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Infinity Investing Featured Event
In this FREE event you’ll discover how the top 1% use little-known “compounders” to grow & protect their reserves. Our Infinity team of experts show you how to be the best possible steward of your finances and how to make your money and investments work for you instead of you working for them. Regardless of your financial situation today, you’ll have a road map to get to where you want to be.