How to get to know a multifamily market.

[James Dietter]

Hello investing friends!

I am in need of help and guidance. I am a real estate investor that has been buying, renovating then selling SFR for the last 5 years successfully in Fairfield county Connecticut.

I am making the leap into commercial multifamily. I am struggling with how to understand a market in terms of commercial multifamily. For single family residence I could easily run comps by looking at Zillow and getting a handle on an area, through recent sales and valuations.

This becomes much harder when analyzing multifamily since there are fewer comps, and there are other factors to figure out, such as what are the units in one apartment building renting for.

This is my biggest obstacle at the moment. I often see experienced investors giving examples of how they analyze a deal, they often say "well, I know this market, so I know that I can expect to get $900/unit". However, I haven't found a resource that explains HOW to become familiar with a market.

Any information will be useful.

Thanks for your time.

[Jonathan Wilks]

I would talk to local multi-family  realtors and property managers in the area you would like to invest. They both should have enough knowledge to answer the questions you have.