What Are Multifamily Investors Reading?

Question

Sean Morrisey · Answer

Our City has an e-mail they push subscribers with upcoming City Council discussions, ordinances passed, developments, etc. Could be a good chance to find opportunities that could apply to your real estate investment business in relation to see what the City is demanding and zoning discrepancies that could play to your advantage?

Christopher B. · Answer

I'm starting to look closer at the development that is going on in my local market, which is where I have been investing.  For example, there are some local newspapers that are just for business development, showing who's doing what, who's building what, and where.  In my area, these papers are sometimes at Doctor's offices and grocery stores, on the way out, and usually free.

For real estate specifically, I regularly view BiggerPockets, attend REIA meetings, and I sometimes seek out the reports from places like Marcus and Millichap.

Aaron Poling · Answer

The best information I have found on multi family investing is the Apartment Building Investing with Michael Blank Podcast. He is also a member of Bigger Pockets and has lots of Blogs and info. Listening to that podcast regularly will give you a great grasp of what multi family investors around the country are experiencing.

Keep us posted on how things go!

Sean Morrisey · Answer

@Patrick DanielIm certainly no expert at it, but, the better you understand what your village wants to see and where developments changes are happening, the more opportunity you will find in creating value.

Patrick Daniel · Answer

I would look at that for any location. Too much development anywhere will drive down prices, or cause a shift in neighborhood desireability.

Jarrod Kohl · Answer

It depends on what market, but big trends or large employers moving to area or adding plants, colleges adding programs etc. Hard to say exactly, but I think it gives you a little more general knowledge on the area.

Maxwell Manatt · Answer

Hey @Josh Oaten

I have recently found this website. You can type in any city or even zipcode and it gives you all kinds of great info, household income, population, housing vacancy, housing stock age, mix of multifamily vs single family ect :

https://factfinder.census.gov/faces/nav/jsf/pages/community_facts.xhtml

HUD produces occasional annual reports for most metros:

https://www.huduser.gov/portal/ushmc/chma_archive.html

The Local County Website or city Municipal websites often have great research as well.

Development is important in a growing metro because it shows you where people and business are moving. Buying close to that area is good. In a metro that is not growing very fast from a job or populating standpoint it is even more important to know where the development is occurring. Because you want to stay away from it! in fact with multi family specifically it is almost always good to be in a mature area where new development is restricted given that the area attracts a desirable demographic of renters.

Hope this is helpful

Christopher B. · Answer

It's general for me, just what I have learned to do.

Christopher B. · Answer

I have listened to Podcasts and read in books that you want to look at investing in areas where there is population growth, perhaps development occurring that would be adding jobs (a new company moving into the neighborhood or town), or something that draws people to want to live in a certain neighborhood or town.  This is especially important for long-term buy and hold, as you are tied up into that property.  Perhaps it's important in short term investments like Flips also.

What Are Multifamily Investors Reading?

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