Operating expenses and capital investment continue to climb while rents rose just 1%. On the plus side, vacancies and rent concessions have dropped. Average purchase price per-unit for 5+ unit buildings rose to $95,755 for the tri-county area. If your thinking of investing in multi-family, Dupre + Scott’s “The Apartment Advisor” and some of thier other publications are well worth the subscription price for some detailed research before you start buying.

Given the rental market vs how hot the condo market is for conversions as well as new construction, I’d put my money on finding conversion opportunities. Definately something I’ll be writing more about as I look at this process.  I’d love to hear from anone who’s in that business — drop me a line if you’d like to share your experiences on this blog.