What markets are best for multifamily now? I’m not a big market fan. I mean, of course, like the where’s the population job growth mostly in the south southeast. But I think if you don’t have a clue how to underwrite deals, yeah, you look at what markets are hot, and you just kind of throw a dart, right? But it’s all property specific. Right? What are what are the current rents? And what are the market rents in that sub market? And how much is undervalued?
I mean, I’ll buy a property in freakin Alaska, if the if the market rents were undervalued by a lot, essentially, I’m going to put it into my model and factor in a lot of this stuff in and see which is the stronger deal and go into that. But I think what you see on a lot of like podcasts or like forums is a lot of the surface level questions like what what are good market, like, I think, like Dallas is a great market. But the problem is every like sucker out there is looking in Dallas, which pushes the prices up. So I don’t think you can look at it from that point of view.
I mean, again, learn how to underwrite deals and you can kind of cut through the noise. If you’re not willing to do that. Or you’re just kind of looking for some, maybe you don’t know too much and just want to throw a dart somewhere, you know, south southeast areas, population areas that are going up or like Florida. Orlando is a big one Atlanta, Birmingham, I like single family homes and turnkeys there but they don’t have the density to do multifamily. At least you know, not to get above 100 units.
We love Huntsville. Huntsville is one of the top of egos like the top three rent increases for the last 12 months. You know, all the Texas triangle Dallas Fort Worth Houston, South Carolina, the Carolinas, the banks really like those type of areas now, but mostly on the southern southeast area. But don’t just take that and go and run deals in those areas. It’s all about the specific deal.