Betting on Service
- May 19, 2017
The multifamily industry is the new El Dorado for investors. Everybody wants a piece of the action. Because there is more money than action available, there are new multifamily developments popping everywhere. On a five-mile stretch between my work and my doctor’s office, three new properties are being built as we speak, on top of the four or five existing. Last I’ve heard, Silicone Valley is not relocating to Gwinnett County, Georgia. This is all about developers selling the dream to their investors. Fast forward two-three years from today, we are going to have a hefty surplus of apartments and an acute workforce shortage. That’s when the multifamily industry will meet the real Hunger Games. There is a way to survive it: focus on service.