A well refined market niche for real estate entrepreneurs can deliver outsized returns, but it’s easier said than done. It takes a lot to discover a niche in a crowded marketplace, and it requires discipline to stick with it without getting distracted by other shiny objects. Axel Ragnarsson, founder of Aligned Real Estate Partners, buys 10–50-unit value-add apartment buildings in Southern New Hampshire directly from sellers. Axel’s completely vertically integrated and knows the market incredibly well. Southern New Hampshire is a supply constrained, stable market with population and rent growth as residents are moving there from more expensive markets in the Northeast.