What to look for in a new market- multifamily!

[Jeffrey Donis]

I have seen a lot of different posts regarding what to look for in a new market. These are some of the things we take into consideration before we expand into a new MSA- 

• 1. Population over 200,000
• 2. Long-term population growth of at least 50% of the national average (preferably more)
• 3. Diverse economy
• 4. Labor participation rate at or above national average
• 5. High relative cap rates
• 6. Pro-business, pro-landlord climate
• 7. Limited risk from climate change
• 8. Close enough to home for you to oversee easily (one-day round-trip preferred)
• 9. “Anchor” is a bonus – not necessary, but great to have. Avoid bad anchors.

Am I missing anything major? Open to any input!

Thanks

Jeffrey Donis