- Positive trend line in population growth – an increasing population is a great sign that people are excited about what’s going on in that market. Now it’s your responsibility to understand where and why that excitement is happening in the sub markets within the city
- Employer diversification – a population heavily reliant on one employer or one industry is risky. Employer and industry diversification is a sign of a healthy market and lessen the risk in a market downturn all of your tenants out of a job and unable to pay rent
- Landlord friendly laws – rent control puts a lot of constraints on landlords profit margins. States that have long eviction proceedings will delay tenant turnover if you have a professional squatter in your unit
- The future – find markets with a vision and plan for future growth. Are new sports teams coming to town? Is Amazon moving there manufacturing facilities there? What’s going to bring new jobs in the future to continue the excitement and growth
- Year over Year rent growth. It’s going to be really hard to find current markets with rent growth during the current covid environment. You can expect rent drops across a lot markets because of the pandemic. I’m watching for cities and states that are able to get the virus out break under control the virus spread and have a plan in place to keep numbers down. You can’t have an economic recovery without a plan to get numbers down and keep numbers down. Constantly opening and shutting down will destabilize the economy
Hi, my name is Michael Avent. I founded The Multifamily Review in 2020. I’m a Commercial Agent at Northcap Multifamily located in Las Vegas, Nevada. My vision for The Multifamily Review is to be the most trusted resource for all Multifamily Investors and Industry Professionals. We strive to offer the best and most up to date content to our readers and are always open for suggestions. Make sure you sign up to join our newsletter to stay up to date on our latest blog, ebook, and more exclusive content that’s coming your way! The Multifamily Review team and I look forward to building a deeper relationship with you!
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