Best Cities To Invest In Apartment Buildings

Thousands of investors and people of wealth are looking into taking advantage of the country’s massive amounts of real estate wealth. One of the best ways to do this is through investing in apartment buildings. At Balsiger Insurance we work apartment building owners on getting great building coverage at an affordable price, so they can get the best return on their investment as possible. Apartment building investing can be done at many levels and in many ways. Individuals can purchase entire buildings to hold onto or purchase small portions to sell quickly. Whatever the strategy, choosing the right city to invest in can be critical for eventual commercial real estate investment success.

Raleigh-Durham, NC

Raleigh-Durham is a prosperous area in the South that has brought in a considerable amount of real estate investment in the past decade. This investment has resulted from the massive growth of downtown areas and shopping centers. The region is full of health care, technology, and research jobs through its proximity to the Research Triangle Park. Thousands of people are moving to the region and looking for housing every year. One of the benefits of investing in this area is that there is a need for housing at every level.

There are market-rate, luxury, and affordable buildings in nearly every area of the cities. A new apartment building is completed every few months in downtown Raleigh and Durham. An individual can start a company and take advantage of relatively low corporate taxes in the state. They can set up a headquarters in an area such as North Hills or Brier Creek. Then, they can take partial or whole stakes in buildings across the two cities.

Denver, CO

The Denver area is one of the fastest-growing metropolitan areas in the country. There has been a wave of technology and health care companies that have flooded the city. Such companies have led to rising apartment costs. Apartment buildings have waiting lists with hundreds or thousands of people on them. Like any other housing shortage, there are opportunities for apartment building investors to make money in Denver. Affordable housing companies are being formed and soliciting capital. An investor can build or buy his or her own building in a growing neighborhood. They can make an investment and take part in the massive urban growth downtown.

Also, they could stake out a new position in a growing suburb. The suburban expanse of Denver is growing every few months. An enterprising apartment investor can choose the area they think will be most subject to growth. They can buy a piece of land for a small amount of money and later sell their apartment building in a bustling new area for millions of dollars.

Las Vegas, NV

Las Vegas will always be an attractive destination for apartment building investment. We should know, we have an insurance office in Las Vegas. This growth is due to the general growth of the area and the need for people to live near the city’s many hotels, restaurants, and casinos. Las Vegas continues to grow every year. There will be a new football team moving to the city and there is already a hockey franchise. In addition, there are a number of types of gambling that will not be legal in much of the country anytime soon.

Casino gambling will most likely be limited to Las Vegas, Atlantic City, and Native American reservations for at least the next decade. The vast numbers of people who live and work in the city need somewhere to live and stay. These individuals benefit from the construction of new apartment buildings. General economic growth is often good for apartment building investment and Las Vegas is no exception.

Corpus Christi, TX

Corpus Christi is a unique option for investors looking for the newest cities to invest. The city has not been completely overwhelmed by large companies and real estate developers. There are still zoned land opportunities near the downtown area. Corpus Christi also has room to grow. Many prominent technology, shipping, and manufacturing firms are still located in the city. The city is on a protected harbor which allows for an international connection. Economic growth and opportunities result in a large pool of new people who need an apartment. They are essential for the overall success of any apartment building investor.

Conclusion

Apartment building investment is a complicated business. There are often dozens of factors to consider and initial costs that may run into the thousands of dollars. Picking the right city to start can mean a better regulatory environment, easy access to contractors, and limited time spent with empty buildings. Picking the right city can make all of the money and time spent in market research worth it.

 

Need help with insurance coverage? Reach out to our local teams in Nevada, Texas, and California. We also service many states throughout the United States. Call our office for more information or submit for a free quote.