So you wanna get started investing in Savannah and you’re checking things out, eh?
Well done. Always do your homework and you won’t get schooled.
Below are some great tools that we’ve found and use occasionally, as well as some great real estate investing resources in Savannah for investors to take advantage of for quick research on investment deals.
The best part is that most of these sites are free!
Here are a few sites you should get to know:
The biggest and baddest real estate website in town is Zillow. They are collecting real estate wealth data like no one else.
Spencer Rascoff, the CEO of Zillow, said the company’s greatest asset is its “living database of all homes”.
Many people have noticed that the Zestimate tool is ‘a bit off’. Even though it’s fun to see what the computer calculates, you still have to know how to analyze the comps and evaluate the market on your own.
Spend a lot of time browsing Zillow and getting to know the intimate details of each property sold in your target Savannah neighborhood. Make an effort to understand why the seller and buyer chose that point to settle, and try to determine the psychology of the prices.
Consider each sale as a small piece of a larger puzzle.
Zillow is an awesome tool for investors to get to know their markets.
Craigslist is an awesome website. The site has some great deals if you spend some time there. Some people write terrible ads for great properties. Every hour of every day, across each market. Some of the best properties only get one terrible ad. It’s up to you to search.
The granddaddy of commercial real estate investing is LoopNet.
Want to sell a gigantic building to institutional investors? This is where you list it.
There are great deals on LoopNet sometimes, but you’re competing against everyone else for them. Having a Grade-A investor and a top broker working together gives you a better chance of winning the bid. This is not a site for beginners.
If you want to learn about the market in Savannah and find out where the major money is moving, LoopNet is a great tool. Find out what you can learn by searching through the properties for sale and watching where the sales close.
Auction.com is, as its name implies, a big clearinghouse of auctions – foreclosures, REOs, short sales, distressed properties, land, new construction – you name it, they probably have it.
Make sure to look at the auction calendar, and go to one of the Savannah auctions. At an auction, you never know who you might meet – might be a future business partner?
Realtor.com is the most popular place to search the MLS (multiple listing service), but it can be confusing at times and the data displayed there is sometimes inconsistent.
The site has some cool search features and alerts that let you know when a broker in your neighborhood has added a new listing. It’s likely that if you’re serious about investing, you want to form a relationship with an excellent Realtor, rather than simply looking at a website.
Many investors overlook Walkscore.com, which is a big mistake.
With Walkscore, you can learn a lot about an address. You can see how potential renters or buyers will evaluate the property – what’s nearby and how long it takes to reach.
Also, it’s a great way to target areas that are underpriced in relation to their amenities. If an area has a really high walkscore and low prices, chances are that prices will rise in the near future. Although there are exceptions, walkability is an important factor in Savannah investment.
You can use those tools to gain a better understanding of the Savannah area market if you take the time to do so. Before investing your hard-earned money into a property, do your homework and understand the market.
You can always give us a call (912) 421-9907 – we love to partner up with investors, and we’ve got great terms.
If you’re looking to access to local Savannah investment properties, great!