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Neighborhoods Uncovered

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In Neighborhoods Uncovered, Dimond explains in a simple and concise manner how best to analyze the market for investing in real estate.

Continually making sound investments without solely relying on luck to earn a profit requires a proper understanding of the assets at hand and the factors that may impact the fluctuations of the values thereof. It may be difficult for many a layman to quickly figure out all by himself, so some pointers at where to start can thus naturally be quite useful to accelerate in the right direction. In Neighborhoods Uncovered, Joshua Dimond guides the reader through how to grapple with the real estate industry in particular, discussing which resources and factors can be useful to investigate for investing in profitable properties depending on one's risk tolerance.


Location reigns as the supreme factor in real estate, and to uncover the most ideal sites to invest in, Dimond provides a quite useful model making it incredibly easy to follow his line of reasoning in analyzing the market: "Market analysis starts from the broadest perspective and narrows its way down to the most specific site." First look at the indicators at the national level, such as GDP, employment, interest rates, etc., then state, county, city, and finally localize the most appropriate zip code, neighborhood and property. He cites numerous resources of where to find such indicators throughout the book, and has a comprehensive list of them in the appendix at the end. Additionally, Dimond offers a spreadsheet on his website where he illustrates more in depth the indicators he has used for his particular example of a market analysis, and how to analyze them to make sound investments.


Having operated in the real estate market for over 13 years and set rental rates of over 50 000 apartment units, Dimond has accumulated a lot of experience in the industry and seeks to share what he has learnt for newcomers to avoid having to go through the difficult learning process that he seemingly have been through in reading highly inadequate books on the issue. Trial and error isn't the most practical tactic for this business, to say the least, and it's great to have such an experienced fellow articulate the process of market analysis in such a simple and yet useful manner.


If I'm ever to try investing in real estate, I will probably re-read the book multiple times and use much time investigating all the resources and indicators cited, and I'd recommend others to do the same. Is there a more concise and useful guide to investing in real estate? I don't know; there may not currently, and sometime it may come, but I think it is a rather difficult work to beat in this sense, and in my opinion it should be read as one of the great works on the industry regardless.

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Avid reader curious to always learn more about human nature and the world at large. Our capacity of reason allows us to explore these wonders, hence Pascal's assertion that "Man is obviously made to think. It is the whole of his dignity, his whole merit; and his whole duty is to think as he ought."

Overview

About the author

Joshua has spent over 13 years in the real estate industry. He’s set rental rates for over 50,000 apartment units across the country. Currently, he's a developer, building apartments and retail properties. His local real estate experience ranges from owning rental units to flipping properties. view profile

Published on July 22, 2019

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40000 words

Genre: Business & Management

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