It's not enough to analyze a property, or even the overall market.  The neighborhood surrounding your property is permanently attached and important to consider when investing in rental properties.  You want to make sure that you understand where you're investing and that it fits your goals and investment criteria.

On this episode we talk to Dr. Andrew Schiller.  Dr. Schiller is the Founder, CEO and Chief Scientist of Location, Inc.  He is responsible for inventing the search and neighborhood matching algorithms that powers www.NeighborhoodScout.com.

This is an episode you'll want to listen to twice.

If you missed last week’s episode, be sure to listen to Market Spotlight: Investing in Indianapolis.
Enjoy the show!

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Make Better Decisions Using Neighborhood Info
We have a very special show for you today. I have Dr. Andrew Schiller on the show from NeighborhoodScout. That product is something we use a lot in addition to many other tools. I've been wanting to get Dr. Schiller on for three or four months now because he's a very, very smart guy who aggregates a lot of data and has a tool called NeighborhoodScout.com that's been around for many, many years. It's just chockfull of information.

When we talk to investors, a lot of times, we go from talking about the market to talking about the property. Although there's consideration and thought about the neighborhood, it seems that many investors skip over the neighborhood as if it's just something that is attached to the hip of the property. Really, a lot plays into the decision of what you're investing in because of the neighborhood: the demographics, maybe crime, schools, the percent of owner occupied homes, the number of people with college degrees, whether they're white-collar, blue-collar workers, income levels and all that kind of stuff. Where do you get that data? It's peppered all over the internet. You can go to many different websites and pull some of it from here and some of it from there, Bureau of Labor Statistics, the different government websites. But there's no one website or one place where you can get all that data. One of the websites that we like to use is NeighborhoodScout.com. There's a lot of that information, not everything but a lot. It's just one of the tools in the toolbox.

On today's show, we have Dr. Schiller talking about his company, the product, how they're aggregating data and how you could use this tool to help you make better decisions in your investing, whether you're purchasing a turnkey property or whether you're purchasing a distressed property, you're going to be fixing it up to keep it or fixing it up to flip it. At least you have a better understanding of what you have and what you're dealing with.

It's my pleasure to welcome Dr. Andrew Schiller to the show. Dr. Schiller is the founder, CEO and Chief Scientist of Location, Inc. He's responsible for inventing the search and neighborhood matching algorithms that powers NeighborhoodScout.com. Andrew, welcome to the show.

Thank you, Marco. It's a pleasure to be here.

I'm happy to have you here. I've been thinking about getting you on the show for the last three or four months. I've been dealing with a lot of other issues and I've been very, very busy so I haven't had the time to bring you on. The reason I wanted to bring you onto the show is because you have an impressive tool that I've been using for a number of years. I've been a subscriber of yours for a number of years. I actually use it for my own investing and our company uses it internally here to look at different properties for our clients to help match those...