Identifying an emerging real estate market is the simplest way to explode the value of your property in the shortest amount of time. But if you want to take your investment to the next level you’ll want to make sure that you’re property falls within the path of progress.

The path of progress is the direction in which an emerging market’s growth is occurring. Because progress/growth is occurring in these areas, demand increases, rents rise and your property appreciates organically.

The path of progress is generated for a multitude of reasons including accessibility and infrastructure (there are many factors to consider). It’s important to know why the path of progress is developing but it’s even more important know where the path of progress is headed. If you know where the path of progress is headed then you know where the best investments can be made. I’d say that’s pretty valuable, yes?

So now that you’ve identified your market, how can you determine where the path of progress is headed?

Local Newspapers: Yes, newspapers still exist and can be very advantageous to you (the investor). Local newspapers are usually the first to know about/announce big ticket news items in real estate including new development plans, large business’ moving into the area and new bridges/roads breaking ground.

Local Brokers: Good brokers don’t just bring you deals, they bring you information. Brokers know their markets as good as anyone. You as an investor should leverage that information. Ask them what they know about new construction projects, and the up and coming “hot spots” to buy within a certain city. You’ll be surprised how much can learn from a local broker.

Local Town Hall: I wrote an entire blog on the immense benefits of working with a Town Hall. You can learn pretty much anything you want to learn about a market from the local Town Halls including where path of progress is headed. The Chamber of Commerce, the economic development committee, the planning/zoning boards, the building department, these are literally the local governing bodies that determine where the path of progress will take place. You are getting the information right from the source. There is simply no better way to learn about the path of progress than from the local Town Hall.

Local Residents: Bartenders, construction workers, local professionals, talk to them all. These are the people that have lived in the market and tell you not just what plans are being “talked about” but what actually has taken place.   They have the pulse of the market and can give you priceless and accurate information.

To learn more about the path of progress and investing in multi-family real estate contact SNA Capital today.