Remote Acquisitions - Where to Extended Stay in Target Markets
I'm in multifamily acquisitions and can work remotely. I am planning on spending a few weeks in each of our major target markets which are DFW, Atlanta, & The Carolinas (Raleigh, Charlotte, Charleston). I have been to each city but haven't spent a lot of time in any of them. What are the best areas to stay (airbnb or hotel) in each market if you only have a few weeks in each? I am a youngish single guy looking to enjoy each city while I'm there for work.
Don't come to Atlanta. You couldn't handle it
atlanta sucks so much i dont understand why people like the place. trash place filled with scum criminal underclass.
Proving my point, you couldn't handle it
Definitely Airbnb. Or if you can afford it something like blueground
Best Areas in Atlanta, I personally think are Old Fourth Ward, Inman Park, Buckhead. There is more walkability on belt line located submarkets (O4W/Inman Park). If you are more traditional and want the old money location, you cannot go wrong with Buckhead, but it's more spread out.
Buckhead is getting really rough now. 5 years ago it was super posh with no issues, but not sure what happened after Covid. Shootings and muggings all the time. No doubt some really nice houses a little bit out. Last year, we heard gunshots near the St. Regis. Lenox Sq is also getting a lot of riff raff. Unfortunate, as I really liked the area.
For DFW try to stick to lower Greenville or Knox Henderson those are kind of the hip neighborhoods now.
Charleston stay on the peninsula and near to market street for the fun bars and restaurants.
Durham can be cool for Raleigh, but pretty small so maybe stick to Raleigh proper.
Durham or Derm is fine but it’s pretty dead during the week. I would recommend Glenwood area.
sadly, not a lot of good hotel options around that area but there are some literal 4-room random options around that area.
I am fairly versed in the Dallas market. Given the lack of details on product type, I would recommend you stay in uptown or Knox Henderson given the proximity to bars and highways. If you stay in either, you will have easy access to high class A and workforce housing. Unfortunately, the markets here are not as one would think. Ie: the only people who live downtown are those who moved here for work thinking it is the place to be. I would maybe even recommend renting a car for a day to drive around the different parts near downtown- you may find a gentrification play near Swiss Ave.Aside from the work part, there are many good bars & drinks are fairly cheap compared to other big cities. You can get nice bourbon pours for $15-20 at the right places. Nightlight overall isn't great M-Tr but if you go to the right places, you will find similar / interesting people out til close (2am).Please do not expect to be able to walk around / use public transportation. I can't tell you the amount of people I've worked with from institutional markets that think you can easily move around.
Just picked up a OWA 107 at MSRP. Super psyched to try it. Also got a EH SMB.
You’re in multifamily acquisitions and don’t know where to stay in your target markets??
True
We target more suburban areas in each market, I know those parts of the markets but less so the downtown/core/class A areas which are the areas I am looking to explore more during an extended stay. I usually rent a car and end up staying in a hotel close to whatever I'm touring and don't have time to do much more than tour whatever specific opportunities I'm looking at. Should have been more clear in original post.
How did you swing a remote job in acquisitions? I’m jealous
Just got lucky with a small group that was fine with it. I'm expected to travel for deals and visit our office from time to time but beyond that I'm fully remote. My base pay is lower than a lot but my incentives are pretty strong. I personally like that pay structure as my overall upside potential is higher and I've worked heavy incentive based roles in the past but it wouldn't be a fit for everyone. I'm also working directly with the CEO daily which has helped me learn a lot. CEO has also expressed willingness to help me if I want to put together some of my own deals in the future which was a huge plus for me. It did take me almost a year to find the role though and even then it took three rounds of interviews before I took it seriously and really thought the overall opportunity would be a fit. This website is so prestige heavy which is fine but there are a ton of unique opportunities in real estate if you are willing to be open minded and patient in your search. Always take an interview or opportunity to network even if you're on the fence. If it's not a fit you lose nothing. You really never know who is on the other side of an opportunity until you speak with them directly...The recruiter for this role was third party and wasn't great. I almost terminated the process but once I got through to the owner it was clear that it was something I wanted to explore further.
I think it is totally possible to do remote acq and AM work if you have the discipline and experience to add value to your team. The common opinion on WSO appears to not agree.
Out of curiosity, is your firm paying for your travel expenses?
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