Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

What To Do BEFORE Going Into Multifamily

4 Jul 2023 · 1 min

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0:42

Christian Osgood breaks down three criteria for choosing a multifamily market: sustained population growth, a diversified job base beyond one major employer, and resident satisfaction. He points to migration from California to Texas and Florida as proof that people move to places where they want to stay.

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You want to get into multifamily? Here's what you need to do first. Pick a market, any market. No, seriously, not any market. There are a few criteria. Here's what you need to do first. You want to look for population growth. People are moving into the area, you provide housing for people, supply and demand. Your properties will go up in value over time if people continue to move to that market. Number 2, job opportunities. I don't want to see one major employer driving everything. I want to see a bulk of different opportunities in that market— manufacturing, data centers, agriculture, you name it. I just want to see diverse jobs. Number 3, are people happy there? The population Population growth only goes up while people want to live there. If you have unhappy people, even with population growth, it could decline, it could stop, people could start moving out. We're seeing that right now with California fleeing to Texas and Florida. And that's how you pick any market.