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Updated about 4 years ago on . Most recent reply
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
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Top Multifamily Markets in 2021 and Beyond
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
I hear so many people asking what the best markets to invest in are. First, my answer is look in your own backyard to make sure that is not a good option. If you say, "thanks, but no thanks," to your home market, then you need to dig in:
1. Job creation, 2. Increase in population and future expected growth, 3. Building proposed (permits pulled), 4. Government planning 5. Affordability 6. Absorption rate and vacancy rate. 7. Rent affordability 8. Landlord friendly. One of the other major factors that I look at, is if there is opportunity to buy value add properties, meaning buildings are being sold in the asset class and size that I desire and there are building being sold at a discount due to a problem needing to be solved.
With that said here is my top 11:
1. Tampa Bay, Florida
2. Jacksonville, Florida
3. Phoenix, Arizona
4. Raleigh, North Carolina
5. Atlanta, Georgia
6. Savannah, Georgia
7. Cincinnati, Ohio
8. Des Moines, Iowa
9. Memphis, Tennessee
10. Huntsville, Alabama
11. San Antonio, Texas
To see my full thoughts check out the articles:
Most Popular Reply
I invest out of state and self manage remotely. When I had a rental 15 min from my house I physically went there twice a year approx. I figured it might as well be in another state as I could have outsourced those visits to someone else. #s are so much better where we invested than where we reside. I really don’t see a big difference. I use cozy and other tools to vet tenants. I have a trusted handyman show the properties and do walk throughs. I’m not saying it’s not without challenges. The renovation we have been working on has been especially challenging to do from a distance, but it has been a great learning experience and I’m confident my procedure will be tightened up the next time. There are markets out there with very little investor competition, that sounds like opportunity to me! Love those emerging markets.