This time, I talk about the importance of market research and due diligence when entering a new market location. I'll share six vital numbers that investors should know, including local area square foot rates, competitor occupancy levels, operating costs, build-out costs, market capital costs, and cap rates. I also provide methods for gathering this information, such as online searches, talking to agents, reviewing competition, checking out developments, and networking.
KEY TAKEAWAYS
BEST MOMENTS
"What are the steps to ascertaining market demand in a new market location that you haven't owned anything in before?"
"Nothing beats getting in the car or on your bike if you're that way inclined, and taking a look about on the streets. Only then do you see what sidenof the tracks are better and where the investments are going."
"If an area is up and coming, there are developments going on, but maybe not too much, then you know those are some big ticks ✅ in the boxes."
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