If you’re like most people, you do a lot of research on the internet before making a big decision. That’s an excellent way to be an informed consumer, but when it comes to real estate investing, the internet isn’t always the most accurate resource.
On this episode of Investing in Real Estate, I’m elaborating on one of the topics I’m frequently asked about—crime. Many people assume that a low priced home is in a high crime neighborhood, and today I’m setting the record straight. I’ll explain why crime data is unreliable, and how you can determine if a neighborhood is safe.
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One of the biggest hang-ups that new investors face is hesitation about crime. Many people are curious about this topic, and the thought of crime can totally demolish their real estate investing dreams.
If you focus on the potential for crime, or are put off by the data you read on websites like Zillow or Trulia, you may decide not to invest at all. I’m here to tell you, get that idea out of your head. Don’t let crime data debilitate and discourage you.
I understand why crime data can be so overwhelming. If you’re new to real estate investing, you only have the internet to rely on, especially if you’re not purchasing in your own neighborhood. But the truth is, the internet is often wrong.
Crime data is calculated by zip code, and that simply doesn’t make sense. These sites can accumulate data from a mile away. Zip codes were created specifically for mailing purposes; they have nothing to do with the quality of a neighborhood.
When you’re looking into real estate investing, don’t be discouraged by this data. If you search hard enough, you can find reasons not to invest. There are much better ways to measure whether or not a property is a sound investment.
On today’s show, I’ll explain how you can determine whether or not a neighborhood is truly high crime. I’ll also talk about what happened when I searched the crime date in my own neighborhood, and give a specific example from pop culture exhibiting that the internet can be wrong!
We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- The best way to measure if a neighborhood is safe.
- How are rent estimates aggregated?
- Why you shouldn’t rely on Google Maps Street View.
- The one factor about a property that should influence your decision.
- And more about buy and hold investing!