Running Multifamily Comps

7 Replies

What is the best way (websites, comps, calling other complexes in the area) to see if an area is a good area to invest in when looking at a small multi-family apartment complex, with a lower end cap rate, out of state?

I have been calling other complexes (as mentioned above) and simply asking them what their rent is as well as looking at "apartments for rent" on Google but if anyone knows of a platform that expedites this process, that would be very helpful!

Thank you in advance.

@Patrick Winn , I would seek out property managers in the area that specialize in that local sub market. They usually can produce trend reports, give you a run down on the competition, what areas are good and what areas are bad. Essentially, you want to have contact with boots on the ground.

Originally posted by @Patrick Winn :

What is the best way (websites, comps, calling other complexes in the area) to see if an area is a good area to invest in when looking at a small multi-family apartment complex, with a lower end cap rate, out of state?

I have been calling other complexes (as mentioned above) and simply asking them what their rent is as well as looking at "apartments for rent" on Google but if anyone knows of a platform that expedites this process, that would be very helpful!

Thank you in advance.

CoStar, Yardi, RealPage (which is HQ in DFW). 

Literally, all the info you will ever need at your fingertips.

 

Originally posted by @Patrick Winn :

@Todd Dexheimer Thank you for the feedback. Bigger Pockets Podcast #248 will be the very next one I listen to!

Do have any projects coming up around the Fort Worth area?


Not in DFW area. My deals are in KY and TN

 

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