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Buying a great property at a fair price beats buying a poor property at a cheap price. When buying property, it’s essential to do enough due diligence on the property and the market to determine the future prospects for that property. It’s critical to evaluate rent to average income ratios to determine whether local renters can afford to live in your property. It’s also important to evaluate diversification within the local economy to mitigate risk of a stagnant or shrinking rental pool. If there’s a recession, you need to know the risks of increased vacancy and lower rents. Ryan Webster, Managing Partner at Equity Yield Group, has had great success investing in multifamily properties in Florida and is looking to grow his portfolio in the Southeast and Texas.
