How to know if my city is good for real estate investment

I do not want to invest in far-off cities, but right where I live. What are some things I should consider regarding whether a location is a good investment?

The retail and dining industries are where that old real estate mantra, "location, location, location" becomes especially important. The very best locations will always attract the strongest tenants willing to pay the highest prices. Below are some location considerations that might be important, depending on the type of tenant you want to attract.

High local traffic counts are important. Large numbers of highspeed cars commuting but never stopping will not help you very much. Call your local highway department or department of transportation and ask how you can find traffic counts. They are usually online.
Rooftops are important for neighborhood businesses. How many households are in the area? Is it growing, stable, or going into decline?
Most retail and dining establishments do better on the goinghome side of the road than the going-to-work side of the road. Exceptions are coffee- and breakfast-related businesses, which naturally want the morning traffic.
When choosing among corners, the one just past the traffic light is better. A business right before a busy traffic light will have exit problems. Consumers trying to pull out onto the street will often be blocked by cars waiting at the red light.
Placement of curb cuts (how people on your side of the road enter the property), median cuts (how people traveling in the other direction enter your property), and the existence of socalled suicide lanes (turn lanes) can dramatically affect business success or failure.
For retail and dining, you do not want to be the only show in town. In other words, locations with a lot of other retail and dining options do not mean you will have a lot of competition. It means that many people will drive to that general area for shopping or dining, and then make a decision about which particular place to go. All tenants will do well.

What retail and dining trends might have an impact on the success of any tenant I have?

One of the more noticeable trends is to shop or dine for entertainment. It seems that consumers require more and more stimulation in their lives. Businesses that deliver those experiences will do better than those that deliver only goods or food. Think about all the television advertising you see. Everyone is having fun, things are exciting, it is an adventure to shop or take your meals with the advertised businesses.

Look for similar traits in the tenants for any such real estate investment. Trends can change pretty quickly. This is an area where you should invest in specialty magazines or newsletters.

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