'Skating Where The Puck Is Going To Be' - Chosen Best Post by Multifamily Insiders'

RiseSpot CEO Ruthy Dahan-Portnoy published a post on LinkedIn group 'Multifamily Insiders Community', which was chosen on August 4th Best post of the week. Here is the full article: Is Wayne Gretzky’s strategy to skate ‘Where the puck IS GOING TO BE' also relevant for Multifamily developers and investors?

Multifamily developers are always looking for the next ‘hot spots’, the areas which are going to thrive when their units come to the market.

They are all eager to be the first to identify areas that are currently 'under the radar'. However, significant planning initiatives which have been announced, together with supportive features, are capable of transforming these areas into vibrant, thriving communities.

Wayne Gretsky - Skating where the puck is going to be

How can they be the first ones to identify these areas?

There is no doubt. It is NOT an easy task.

Especially under the current circumstances, when the capital is still expensive and some of the traditional areas, which were popular to invest in, are already saturated. Investors should adopt a ‘cherry picking’ approach.

As a real estate researcher, The site selection process should be based on analytical resources, exploring the trends of forward-looking features (we spent a lot of time identifying the features which contribute most. These features can vary across different tracts!) and making sure the sites chosen align with the company's investment criteria.

Once the sites have been selected, deal flow in these areas can be targeted. I suggest this approach as a proactive and efficient way to ensure that the best opportunities are not missed.