Running Multifamily Comps

[Patrick Winn]

What is the best way (websites, comps, calling other complexes in the area) to see if an area is a good area to invest in when looking at a small multi-family apartment complex, with a lower end cap rate, out of state?

I have been calling other complexes (as mentioned above) and simply asking them what their rent is as well as looking at "apartments for rent" on Google but if anyone knows of a platform that expedites this process, that would be very helpful!

Thank you in advance.

[Tj Hines]

@Patrick Winn, I would seek out property managers in the area that specialize in that local sub market. They usually can produce trend reports, give you a run down on the competition, what areas are good and what areas are bad. Essentially, you want to have contact with boots on the ground.