Oct 20, 2020
Investors are looking for better yield, which is just the annual return on their investments. To find better returns, multifamily investors often look into different markets that are less competitive. This can leave some investors being priced out of hot markets and looking more into secondary markets, tertiary markets, and small towns. However, for Lee Yoder, he just looked in his backyard to find multifamily opportunities in less competitive submarkets that were further away from the core metropolitan market. Lee was able to raise money on his first apartment deal in a small market and shares how he raised capital as a new apartment investor.
Lee was practicing as a physical therapist when he realized his true passion was building his own business and investing in real estate. He has taken this passion and considerable action to quickly build a portfolio with several small apartment buildings. Lee is the founder behind Threefold Real Estate Investing, and he’s committed to forging a path that will generate incredible wealth and opportunity for all involved.
Lee shares his biggest insights learned on investing in smaller markets, including understanding the employer base, access to the primary market, and other market drivers. He highlights the biggest concerns of investing in a tertiary market and how he determined that a deal that had been left to die was worth resuscitating. He also details how he built a strong team to attract investors from his network for his first apartment deal.
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Key Insights on Multifamily Investing in Small Towns and Tertiary Markets
There are some busy weeks, but it's nowhere close to the corporate space
In a small town, you have to ask, where are my residents going to work?
Maybe it looks like a good deal because no one else wants it.
And if one prevail against him, two shall withstand him; and a threefold cord is not quickly broken. (Ecclesiastes 4:12)
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A flip project that consumed all of his time and forced him to get into multifamily
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