Monitoring local, regional, and statewide news stories may not seem like real estate related research, but doing so is where many real estate opportunities come from - or change. Take the below linked news story about how a recent Florida budget change could impact the South Florida commuter railroad to the point where it may have to shut down within the next two years.
Suppose you own or just broke ground for a rental property at which one of the prime amenities is proximity to the train station for the type of tenants you wish to attract. Knowing that the train station might be useless in two years is horrendous news for your investment. However, knowing about it with at least 18 months' notice gives you the chance to form a strategy to overcome. Not knowing about this could severely hurt your investment and profit potential, while giving competitors the chance to gain from it.
Suppose you do not own property in those areas, but are involved in opportunities which do not rely on commuter trains. In South Florida, senior or student housing are both solid examples. Being aware of this news could help you to be able to acquire land or an existing property at a discount from an owner seeing the writing on the wall for what they are currently doing.
My point is to show how a news story you won't find in the real estate section could impact your real estate world in either a positive or negative way, along with the significant advantages of knowing this information as soon as possible. In this case, it might not be soon enough. I would bet that several research people were aware of this due to monitoring the legislation which may cause this change and had an even bigger jump on the situation, but that's for another day.
Opportunities come from being fully prepared and having more information than the other side so you can take better advantage. Without a research person or team, you have no idea of how much you and your team may be missing out on.
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