If I build it will they come?

[Lucky Tiderman]

I own some lots in a metro area and would like to build 2 new buildings with 10 rental spaces on the lots but before I do I need to determine if there is a demand. Any ideas on how to determine what the rental demand is for that area?

[Dylan VonBank]

@Chris T.

Great advice on looking at economic trends to determine demand!

Also, I love seeing ND come up in forum posts!

I wanted to make sure that there is no confusion when it comes to North Dakota and the oil.  It is important to mention whenever this comes up that the oil boom/bust has not had a negative impact on the Eastern half of the state.  In fact, when the prices dropped, many of those oil workers either went back to the Southern states, or made their way East to Fargo.  Fargo has actually grown and seen an increase in demand for housing with a simultaneous decrease in unemployment, which was already ridiculously low, since the oil 'bust'.  Being that I live and invest in Fargo, ND/Moorhead, MN, I have made it my duty to spread the importance of this distinction because I run into far too many out of state investors that associate ALL of ND and it's RE markets with the success of the Western ND oil industry.