Posted by Ronald * Starr(in No CA) on August 24, 2003 at 01:34:14:
I recommend that strategy all the time to people. I think you can learn a lot by talking to real estate salespeople. You can learn by talking to local investors. You can study information in the newspaper. If there is a local bank publishing economic data, you might find out about it. There may be something there about real estate investing.
I know of no central depository of information about the “quality” of the rental markets in different locations. You might check for statistical information about the different counties at the website of The Center for the Continuing Study of the California Economy, located in Palo Alto.
Please be prepared for much competition. There are tens of thousands of people in the same situation you are. So they will be out there beating the bushes for good deals also. Does not mean you will not succeed. Just want you to be realistic and understand that it might be difficult in other nearby locations also. Not as tough as in Coastal CA, but still no walk in the park. So, you will likely have to expend a lot of effort and be persistent to be successful, I would guess.
If you want it to be easier, you will probably have to go outside of CA. Harder to do, so few Californians do it. The competition can be less fierce in some other markets.
Good InvestingRon Starr****