As a member of Forbes Business Council, Lee Kiser recently weighed in on what it takes to position properties in overlooked areas. Due to the continued rise in demand and low supply of the housing market, it will take some creative marketing strategies to encourage prospective buyers to find good deals on properties in up-and-coming neighborhoods.
From leveraging modern technology, and focusing on move-in-ready equipped with modern technology and accessibility, up-and-coming neighborhoods often have new builds and renovated properties. Lee Kiser recommends focusing on in-place and project revenue in multifamily properties.
“What makes a neighborhood up and coming is rent growth. In your marketing, show solid examples of projects where improvements lead to higher rents. Proforma this for the building you are selling,” explains Kiser.
Other experts recommend focusing on the strengths of the neighborhoods, its niche characteristics are sure to appeal to the right buyers. Always communicate clearly and take the extra step to customize marketing materials. Get to know the neighborhood and what it has to offer. Read the entire list for positioning properties in budding neighborhoods:
- 12/13/21 | Forbes – 14 Effective Methods For Promoting Properties In Up-And-Coming Neighborhoods