86-Unit The Ross In Salisbury, Maryland With Nick Simpson, Multifamily Investor
Something big is going up in downtown Salisbury, Maryland. Joining Dan Handford on the podcast, multifamily investor, Nick Simpson talks about an upcoming 86-unit student housing property called The Ross in the charming university town. Like many cities of its size across the country, Salisbury is experiencing resurgence, and the presence of a government-funded university makes it a lucrative market for student housing. However, student housing is not your typical multifamily deal. Considering the specific needs of the student clientele, you may have to incur some additional expenses which can potentially depress your expected margins. Nick explains how they are going around this dilemma to ensure that The Ross gives its occupants the optimal student housing experience while staying ahead of its competitors. He also explains the acquisition process, development and property management planning, financing and their projections for occupancy and profitability.