Updated over 8 years ago on . Most recent reply
Market Study for potential new build
We are looking at a deal to finance land at a very high LTV - the trade off is we get to participate at equal or better terms on profitability. We have done business with the potential partner and have high regards for him.
The idea is to flip to a larger apartment builder or REIT to build an apartment in multi phase approach. It just got rezoned for multi family. As part of our research we are looking to see for an area of say 20K population, how many apartment units are really needed or can be supported by the market. 1000 units/500 - more? I suppose the first answer is it depends. We can get a feel of the market by calling around other apartments and see how tight the inventory is. Are there other avenues in terms of data maintained by government or third party. How should one go about researching market needs and see if flipping is a viable option here.
If you have experience in this area, please ping me. I can provide more detail.
Sushil