Updated almost 5 years ago on . Most recent reply
How many fortune 1000 co. do u want to see in your rental's area
When looking for a rental property to purchase, what is the minimum number of fortune 1000/500 companies that would make you feel confident in the area? Is there a minimum?
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I have never chosen a market for multifamily investing strictly by the Fortune 500/1000 companies in the area and I feel in the era of COVID, this is even less important.
When selecting a market for cashflow and potential appreciation we want to see diversity of employers and a diversity of industries. I don't want to see one employer account for 15%+ of the tenant base and no industry account for more than 25% of the tenant base. Poverty rate under 15%. I want to see consistent job growth in the area. I want to see a consistent decrease in crime over the past 15-20 years with a consistent increase in population. I want to see areas with median home prices over $80k and the per unit price I am looking at buying should be (less than) half the cost of the median home price. I want to see large, established, national tenants near the property (Starbucks, Target, chain grocery stores, chain restaurants etc.). These companies have done more research on the area than you or I will ever do.