Posted by Jim Rayner on November 30, 2000 at 08:24:31:
Here are a few suggestions:
Check you local area for an apartment owners association
Check historical general vacancy rates at the US census bureau website.
If you are investing in a larger metropolitan area check out www.reis.com They provide extremely good reports regarding those markets and submarkets. reports are updated quarterly. New members get one free report I believe. I use thier reports to keep my business plan market data current my bankers love them.
What is a good vacancy ratio to use when I am working up my cost estimates on rental property??
Is there a place I can go locally to find out what this might be in my market, or is there a rule of thumb?
I’m looking in a community with a steady supply of students attending a local University. Realtor told me the market was “good.” (Gee thanks for that detailed analysis.) I have a technical background, so I’m looking for something a bit more concrete … if it exists?