Multi-units in other Markets Atlanta Texas

9 Replies

Hi Everyone,

I'm thinking of purchasing multi-units in other markets. Atlanta and Texas to be exact. Any suggestions on ways I should do my due diligence and research? Anybody care to share what their experience has been like in dabbing in other markets. I'm interested in purchasing small multis and living in one.

Thanks in advance!

Hi Frantzces,

What size multi are you looking for? I was just reading the latest Marcus and Millichap reports on the apartment markets in Atlanta and I'd recommend them as a good way to start looking at an area. Atlanta is very hot right now so I wouldn't encourage you to jump in here. 14k units under construction and it's not enough to meet demand...  

http://www.marcusmillichap.com/research/researchreports

I agree, Atlanta is too hot.  If you must go there... get in North of the I-20 and sell by 2017!  My partners and I are about to close a 240-unit in ATL.  It was very hard to find at our price point. Texas is pretty overheated as well.  Please feel free to check out my blog for some better market ideas. 

I still like other areas, but generally speaking if you hear an area is hot you are already late to the party.  At least that has been my experience.

@Jeff Kehl

Thank you for the tip! I'm going to bookmark this so that I can explore areas. I'm starting off with small multis. I know that I'm too late! I'm keeping my ear to the ground for any hot up and coming areas.

@Jamal Okon

Congrats on your 240 unit! I would love to hear more about the acquisition and the process. I have thought about Baltimore but I haven't seen any multis worth exploring yet in regards to cap and the neighborhood. But it is right in my backyard....I should probably start there. 

I live in Ca., invest in Texas by insuring I have reliable property management. For due diligence I initially analyzed 30-40 properties while staying current on what was selling/how much. Now that we are in what I consider an off season compared to spring-summer, I will most likely be buying and will better recognize a good value than prior to my market research.

Originally posted by @Kathy Stewart :

I live in Ca., invest in Texas by insuring I have reliable property management. For due diligence I initially analyzed 30-40 properties while staying current on what was selling/how much. Now that we are in what I consider an off season compared to spring-summer, I will most likely be buying and will better recognize a good value than prior to my market research.

 Hi Kathy,

I live in Houston, and would love to talk to you sometime about the market.

@Kathy Stewart

That's a great strategy. My goal is next fall to purchase my first multi-unit property. I don't like to rush into things so I will definitely be doing a lot of analyzing and research beforehand. Thank you for sharing!