Hello everyone, I came across this 2017 multi-family market analysis that I found helpful from Marcus and Millichap so I thought I'd pass it along. What resources have you found helpful when doing market research?
@Luke Terry thanks for the link, it looks very helpful. It is fairly overwhelming attempting to research RE markets online due to the sheer quantity of websites and supposed experts but I have found a good system that led me to purchasing my first investment property in Surf City, NC. The biggest thing I look for is population growth and the most up-to-date data that I have found is on the US Census Bureau website. This helped us identify what the past few years of population growth data looked like for SE North Carolina. Once we narrowed it down a little and learned more about the area, we saw that Publix is putting in a massive new grocery store right down the road which confirmed the fact that this town is growing.
Another valuable tool that I am working to establish now is building a good personal relationship with an appraiser in areas that you are interested in investing in. The nature of their job is to stay current on all market trends and can be a phenomenal resource for obtaining more information on an area. Numbers can sometimes be deceiving from the big RE websites like Zillow or Trulia. I recommend just sending a few emails out to various appraisers in areas you have narrowed down.
Good luck and thanks again for sharing.
@Luke Terry would it be possible for you to post the PDF and not the link from Marcus and Millchap on how to analyze a multifamily or pm me? Appreciate the help!
No problem, try this link
Sweet!! This is great intel, many thanks for sharing!
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