Increase of MF Properties Available

[Account Closed]

Good Morning BP Community,

I have noticed a lot of Multi-Family Properties are coming to the market here in South Florida. I would like to get some thoughts on this. Pre-Covid, there was a lack of inventory, now the inventory seems to be increasing. Could this be a sign of a downturn or are investors selling to upgrade? Thoughts?

[Brian Geiger]

I agree with @Jaron Walling.

You have to know the story behind why they are selling in the first place. I read something a while back that south Florida is home to two worst counties for multifamily real estate. You really have to evaluate the numbers and story behind the sales. 

https://www.globest.com/2020/09/08/2-south-florida-counties-rank-high-nationally-for-2q-rent-declines-296-224224/?slreturn=20200825083003

I added a link as a start but you should speak with a PM whenever you are looking to go to a market where you suddenly see sales. It could mean caution rather than opportunity,.