Have been thinking about what it would take for us to learn a new city.
Other people do this by reviewing research reports and then visiting a few times for broker tours.
That is not how we would do it.
We would start with research in order to narrow down the choices to those cities with severely constrained supply, strong economies, and forecasts for future job / household growth.
We would visit each of the finalists for probably 3-4 days.
Then, we would settle on one city and basically move there for months. We would:
- Book an AirBnB apartment somewhere central
- Make (artsy) friends
- Get ourselves invited out (to parties, bars, etc.)
- Figure out where the interesting people are hanging out
- Move to AirBnBs in those areas
- Research rents, building types, etc.
Then, and only then, would we begin the process of looking for deals.