Importance of Understanding Your Competition

When analyzing a potential multifamily deal one quick tip is to make sure you do a rent study. It is always important to understand what rent your competition is asking for similar units and also what concessions that they are offering. A big mistake many novice investors make is taking the broker's word for it when it comes to market rents, ALWAYS verify the numbers. I often visit surrounding properties and ask to view available units as a potential renter. This will give you the best of idea of what you can do with your potential investment. 

To your success,

Christopher Urso

Principal

National REIS

www.nationalreis.com