Next up and coming city to purchase Multi-Family. Trendy city with best rental value
What's the next up and coming city to purchase a multi-family ?
[{"id": "hkc6ru0", "text": "Alaska; go get it. \n\nOnce global warming hits, you\u2019ll be on prime oceanfront", "replies": [{"id": "hkcnl8u", "text": "Lol. And a mile inland or a high elevation to account for rising sea levels.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hkc7q3g", "text": "Some cities I\u2019ve been focused on as up and comers: Memphis, Birmingham, Wilmington (NC), Chattanooga, Richmond, Savannah.\n\nSimilar dynamics to what southeast institutional markets had 10-15 years ago.", "replies": [{"id": "hkcm8lf", "text": "The rest I get, but Richmond? I'm surprised it's not built-up yet.", "replies": [{"id": "hkco552", "text": "There's a lot of new multifamily construction already in Richmond/Henrico", "replies": [{"id": "hkcpnuq", "text": "Thats why I feel like its too late for investment and not up and coming.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hkd1zut", "text": "I'd not heard memphis, but B-ham, Chattanooga and Savannah are definitely doing quite well.", "replies": [], "depth": 2}, {"id": "hkg45k1", "text": "I second Chattanooga", "replies": [], "depth": 2}, {"id": "hme8in1", "text": "Can you elaborate on what those similar dynamics are that you've been looking out for?", "replies": [{"id": "hmeca9z", "text": "Outsized population and economic growth / relative affordability to larger surrounding markets.", "replies": [{"id": "hmeip92", "text": "Are you looking for any specific factors causing these trends and expect them to continue? Like employers looking to move in and expand, city providing long term incentives to businesses/companies to move in, climate related migration,etc.?", "replies": [{"id": "hmej76q", "text": "I think affordability is becoming a huge problem in major markets. So affordable, secondary markets that can offer a  diverse economy and business friendly climate will continue to see growth.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hkcauqi", "text": "Albuquerque is on fire oddly. Go get it", "replies": [], "depth": 1}, {"id": "hkcbk6u", "text": "Boise", "replies": [{"id": "hkd1pep", "text": "too late already?", "replies": [], "depth": 2}], "depth": 1}, {"id": "hkck14h", "text": "Greensboro NC, Mebane NC, Coral Springs FL", "replies": [], "depth": 1}, {"id": "hkcuu9e", "text": "Florida\u2019s space coast: Melbourne, viera, Titusville, etc. not exactly trendy, but the job growth is impressive.", "replies": [{"id": "hkd25hg", "text": "The planned communities down here are wild. The entirety of Viera West, Traditions etc... are all going to be loaded with a mix of full timers and snowbirds.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hkd98bp", "text": "New construction or existing?", "replies": [], "depth": 1}, {"id": "hkdcyjn", "text": "New York", "replies": [], "depth": 1}, {"id": "hkdeblj", "text": "Celina, texas", "replies": [{"id": "hkdqhds", "text": "Isn\u2019t Celina mostly single-family?", "replies": [{"id": "hkdxgnl", "text": "Over the next 30 or so years, it will have a little of everything. Most importantly, it is nowhere near what Frisco is, so there is a lot of room for growth", "replies": [{"id": "hkdy3fn", "text": "For buying and renovating existing MF, this would be a good play. I know the city is very supportive of single family developments, but not sure how easy it is to get MF permits right now.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hkdfsxk", "text": "Charlotte. Great business supporting the economy, a large enough city to provide liquidity to the real estate, and good population growth. Charlotte will continue to grow.", "replies": [], "depth": 1}, {"id": "hkdlh86", "text": "Toledo and Dayton Ohio", "replies": [{"id": "hkdwqr1", "text": "Serious or?\n\nI like Dayton as a market and while population decline has slowed, it's still dropping.", "replies": [{"id": "hkg1tho", "text": "Yes, Toledo is getting a lot of attention lately. There are good deals to be had and consistent paying residents. I\u2019ve seen this through consulting for a Property Management company in that area. Dayton is  similar to Toledo, but just behind.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hkdqrso", "text": "Boise, Raleigh, Salt Lake City", "replies": [], "depth": 1}, {"id": "hkebuid", "text": "The talk at my country club is Kansas City, Missouri.", "replies": [{"id": "hkelhns", "text": "I have family there. Why the talk? What\u2019s to know?", "replies": [{"id": "hkfncit", "text": "Don\u2019t have a thorough, expert answer for you. They (a group of older, retired guys who independently invest in mainly 1-10 unit properties) have just been allocating properties there on the assumptions it will begin to trend on the short-mid term.", "replies": [{"id": "hlu4pcd", "text": "I'm an appraiser in KCMO. Can confirm. The market is very good. There are also still areas in which to invest. Good developers can get a lot of cooperation from the city if they're forthright and honest with inspectors. \n\nIf you're looking for a suburb, there are approx 65 municipalities within the KC MSA. Depending upon your level of investment, someone out there will be interested in accommodating.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hkee12l", "text": "Columbus, Ohio", "replies": [{"id": "hknpzcm", "text": "Columbus was discovered like pre-Covid place is on fire. Also the school blood money payment on an entity transfer is BS but that\u2019s another story.", "replies": [{"id": "hmeiuml", "text": "Do you recall what factors caused Columbus to get discovered and start blowing up a few years ago? What was different compared other cities around there?", "replies": [{"id": "hmekhq1", "text": "Diversified economy good incomes strong projected growth, risk adjusted returns were too good so money started to pile in and \u201cnotmalized\u201dthe trade", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hkgawpj", "text": "Worcester Mass. \n\nIt has DCU center, PawSox, lots of universities, UMass medical, some great food and beverage scene, and it has endless supply of brick commercial buildings going for $50k per unit. They will need a complete gut renovation/repurposing running at least $50-$100k per unit \u2026but yields are there once you are done and you can quickly recapitalize and build a generational portfolio pretty easily. \n\nJust like any city\u2026get to know it. There are some streets/neighborhoods that I wouldn\u2019t touch with a ten foot pole.", "replies": [], "depth": 1}, {"id": "hkqbnys", "text": "I\u2019m gonna be the only one to say it, but Jackson, MS and surrounding metro area. I have no idea what\u2019s going on, but there has been a lot of foreign/out-of-state investment here for the past couple years. Rents have been going way up in the trendy areas. Bellhaven, Fondren, north Jackson, etc. It\u2019s been a great area to be in", "replies": [], "depth": 1}]