With the real estate development industry struggling to profitably deliver new multifamily product in a price range that more people can afford, an answer to affordability may be found by looking to the past — specifically Class B and C properties built 20, 30 or even 50 years ago. I have focused almost exclusively on non-Class A properties since founding what has become one of the leading multifamily real estate investment companies in Texas. Over the past 11 years, we've found ways to breathe new life into thousands of units in older buildings in great locations to deliver budget-conscious alternatives for working individuals and families. Here are a few reasons why carving quality, affordable “new” inventory out of existing or older multifamily properties is a smart move for investors.
Read more...Focus Investing On Existing Multifamily Properties To Advance The American Dream via Forbes