I keep running into the same issue when looking to invest out of state (I’m in NYC, so kind of a must nowadays): Desirable tenants are drawn to newly-built luxury complexes with tons of amenities and there isn’t much of a market for desirable tenants in smaller, older buildings – the kinds I could actually afford.
Any advice/market recs where the differential isn’t so stark? Thanks!
Competing with multifamily megadevelopers OOS
byu/throwawayk527 inrealestateinvesting
Posted by throwawayk527
2 Comments
Have you looked at college towns? Students and young professionals often prioritize location over fancy amenities, plus they’re used to older buildings anyway
You can always increase demand, by lowering price