Our team is looking to add a 2nd market in the apartment space

[Vanessa Switzler]

Hi All! My team works in the apartment space, primarily at the JV level (5-30 units value add under 2 million) but we also do sydications for larger deals. We are currently hunting in the KC market but are looking to increase deal flow by adding a second market, different from KC which is very popular with investors. I have my eye on: Montgomery, AL; Huntsville, AL; Greenville, SC. We also love tertiary or small town markets with exceptional cash flow. Would love to hear people's experiences in these markets or recommendations of other markets that are more on the "untapped" side. Thank you in advance!

[Ethan Wilson]

@Vanessa Switzler We have some apartments in Huntsville and just outside of Athens. Both are strong markets but as @Gino Barbaro said, it's gotten expensive. Seller expectations are still high and out-of-state investors are often meeting those expectations. 

In our experience, demand for Class B/C housing in still through the roof. The cash flow is strong, but that's subject to the deal you buy. We managed to get in at good price points with favorable terms on both of those assets.

Happy to be a resource for you in the area!