What's the secret to choosing a neighborhood that is increasing in value?

What's the secret to choosing a neighborhood that is increasing in value?

Michael Corbett (Real Estate Expert) gives expert video advice on: What are the various timelines for flipping a property?; How long should I hold a property that I want to flip?; When is a good time to buy real estate to flip? and more...

I'm a big believer in buying in transitional neighbourhoods. I've done it for many, many years. I've bought property in Jersey City when it was just coming up and now you can't get in there outside of Manhattan. There's lots of transitional neighbourhoods. Here's a great secret: If you're trying to find a transitional neighbourhood, look for a neighbourhood that looks a little bit transitional but has just put in a Starbucks. I'll tell you why, and it's because they spend an enormous amount of money on research of what neighbourhoods are good, where people are going, and the relevant population. If they're putting in a Starbucks, I can promise you that it's a neighbourhood that they believe is on the rise.