Finding cap rates for out-of-state regions

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Hi folks,

I'm researching multi-family investments in out-of-state regions, since my local region is too expensive. I'm planning a buy-and-hold strategy.

I've identified 5 different cities that interest me, but obviously have to choose one. Knowing the cap rates for each region would certainly help me narrow it down -- and quick! I've looked on the popular realty websites but they don't reliably list all the due-diligence info I'd need.

I realize this is something that my agent could help with, but since I haven't identified my target region yet, I don't have an agent yet.

Are there online (or other) resources you'd recommend for finding this info?


@Norman Berman the market cap rate is something you are really going to get from good brokers who focus on the commercial space. If you are digging into an area then you need to reach out to some brokers so they can give you their input. Bankers and appraisers are also good sources for this, but they tend to be further down the pipeline transactionally so your best place to start is brokers.