Become A Great Researcher - Part 2
Dec 11, 2008

The Second Installment On Researching, Researching, Researching.
Seems the only great deals today are at fast-food places. But hold it there, before you quit looking for single-family homes for your leveraged investment portfolio. Often enough we just stop looking just before the great deal that may fall in our laps. And, remember that many deals today are being made and even finalized right in the local neighborhood. Don't be afraid to knock on a few doors to take the pulse of the local neighborhood market. You just may find the deal of your life! Researchers refer to Primary and Secondary data. Primary data is information you develop or pay to have developed. Secondary data is what someone else has developed that might also be helpful to you. Use both these methodologies and don't shirk from hitting a few doors in every neighborhood you visit. Asking local folk a few cogent questions can make a great difference in your learning what's going on with the neighbors and the neighborhood. It's a way of getting what marketers refer to as " into the mud of the marketplace." Yes, and it's simple Primary Research that you develop. You'll find that knocking on a couple of doors in a few neighborhoods, will help you glean information of value that few others have or go to the trouble to access.

Also Look For Both Qualitative And Quantitative Data.
Qualitative information is data that does NOT develop numbers such as "So many people said this. or so much of a percentage said this." A visit with a local neighbor will result in your learning about the area in a qualitative manner. Quantitative methodologies seek to develop data in numbers and percentages. Both of these methods can result in your learning how to get a simple, yet valued feel for what's taking place. No, neither method will result in statistically valid information, as the formal researcher will teach, but don't just blow these methods of info-gathering off because you don't have to pay thousands to get them done. And, you can undertake both these research tools by yourself. We'll talk about how to develop and ask questions in another installment of Investor's Corner.

With GoRealEstate INVESTOR, the investment arm of GoRenter.com, LLC, We Have A Long List of Tips & Criteria To Evaluate Properties. Call us today at 602-512-4400 or visit our site at GoRealEstateInvestor.com
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