We’ve become a world of online search and research dominance, and that’s OK, as the Internet is the single largest composite of information ever. However, not everything is on the Web, and sometimes the only way to know about something in your local market area is to actually see it.
This discussion is hardware independent, as we’re going to be doing things that you can do on Android or iPhone. One platform that makes it most valuable though is using Google Maps. We’re going to take a driving tour of our market area to see what we can’t necessarily find online or will not see for days or weeks until someone posts it.
First, there are several apps for either Android or iPhone that will GPS locate your photos for mapping. We want to easily drive around our market area taking photos and having them record the GPS coordinates for each photo. What are we looking for?
For Sale by Owner Signs
Sure, if they’re Web-savvy, at some point the FSBO owner will list their home on one or more FSBO websites, but why not know about them sooner than that. You’re driving around and see a FSBO sign that wasn’t there a week or so ago. There’s usually little detail other than “For Sale by Owner” and a phone number. Take a photo of the sign and home with GPS coordinates and move along.
Possibly Abandoned Homes
You’re looking for very tall grass, lots of newspapers in the front yard, or other signs of long unoccupied residences. If you can see, is the gas meter blocked off or is the electric meter pulled? If you think the home could be abandoned, take a photo with the address and GPS so you can do more research later.
Changing Zoning Use
If you have older neighborhoods, especially close to downtown, are homes suddenly showing business signs, such as attorneys or physicians? Knowing that a neighborhood is now moving to have more businesses allowed can give you pause when considering rental home investing there. Of course, if you can rent to businesses, you may have a new niche. Take that photo.
Neighborhood Gentrification
Often we write off neighborhoods with too many foreclosures or abandoned homes in the past. At some point, they may begin to change. As home buyers see low prices and good locations for their jobs, neighborhoods can begin to attract the kind of residents who bring them back to life and increase property values. Take photos of homes that are being remodeled, including the contractor’s sign if there is one, or the permit number. That photo and the GPS coordinates give you what you need to find out more about it.
Real Estate Agent Sign Dominance
If you’re seeing a number of signs for one real estate professional on homes for sale, they are obviously doing something right from a marketing perspective. However, they also present an opportunity to research the agent to see if they will make a good contact for you in the future for referrals of homes they cannot or will not list. Take the photo of the sign and home with GPS.
Sold Sign Riders
A sign rider is the small additional sign placed on a home that’s been just listed or just sold. Get the photo so you can check to see how long it was listed and the sold price. You may have to work with a real estate agent to get these numbers, but it’s easy to get them to send you sold property reports.
It’s good to get away from the computer screen and get some fresh air. You never know when you’ll stumble upon your next real estate investment deal.
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