MB486: How to Identify a Good Market for Real Estate Investing (And Where We’re Buying in 2025)
Financial Freedom with Real Estate Investing
Michael Blank
4.7 • 577 Ratings
🗓️ 25 August 2025
⏱️ 29 minutes
🧾️ Download transcript
Summary
This is one of the most tactical, eye-opening conversations we’ve had on market selection.
Market selection can make or break your deal before you ever sign a contract. And right now, it’s not just about job growth or population trends anymore. In this episode, Michael Blank is joined by Andrew Meyers, Director of Acquisitions at Nighthawk Equity, to reveal what actually matters when choosing a market—and why most investors are looking at the wrong data.
They break down the real drivers of rent growth, how to avoid buying in overheated metros, and what most people overlook that leads to underperforming deals. Plus, Andrew shares where Nighthawk is actively investing right now—and why.
Key Takeaways
Why Absorption Is the New KPI
- It’s not just about growth—it’s about who’s filling those units.
- Learn why absorption is the single most overlooked factor in market due diligence.
- Discover how overbuilt markets tank B-class rents—and how to spot it before you buy.
The Hidden Danger in “Hot Markets”
- Everyone loved Phoenix, Austin, and Atlanta—until rent drops hit hard.
- Understand why too much supply—even in fast-growing cities—kills performance.
- Learn how to read between the lines of growth headlines to spot real risk.
How to Vet a Submarket Like a Pro
- Why Carroll County in Georgia is outperforming—but other Atlanta submarkets are crashing.
- Learn how zoning moratoriums, new construction trends, and crime rates quietly impact your bottom line.
- The exact reports and relationships you need to dig deeper than “market averages.”
Where Nighthawk Is Buying Right Now
- Atlanta remains the #1 market due to scale, broker relationships, and submarket knowledge.
- Huntsville, AL is rising fast thanks to job growth and lower institutional competition.
- Hear what tertiary markets are on Nighthawk’s radar—and why most operators overlook them.
Questions Every Passive Investor Should Ask
- Who’s actually on the ground executing the business plan—and what relationships do they have?
- How well does the operator know this specific submarket (not just the metro)?
- Are their underwriting assumptions conservative—or fantasy spreadsheets?
- Learn the red flags that reveal when a sponsor is guessing instead of grounded.
Connect with Andrew
Join the Nighthawk Equity Investor Club
Connect with Michael
Resources
Access the #1 FREE Apartment Investing Course (Apartments 101)
Schedule a Free Strategy Session with Michael's Team of Advisors
Explore Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Get the Book, Financial Freedom with Real Estate Investing by Michael Blank
For full episode show notes visit: https://themichaelblank.com/podcasts/session486/
Transcript
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| 0:00.0 | Hey, dealmakers, welcome to the show where it's all about financial freedom with real estate. |
| 0:03.6 | Let's do this. |
| 0:09.9 | So picking the wrong market can kill your returns. So how do you know where to invest in 2025? |
| 0:16.4 | In this episode, I'm sitting down with Andrew Myers from Nighthawk Equity, which is our investment |
| 0:20.1 | firm, to break down exactly how we pick the markets we invest in and where we're buying this year. |
| 0:25.8 | We're talking about what really makes a market good for multifamily invests. |
| 0:30.1 | And we talk about supply demand absorption rates because they've affected rent growths much more than in the past. |
| 0:37.5 | Typically, only developers are affected by this, but because of what's going on, |
| 0:40.7 | what went on with COVID and the free money, a lot of stuff came out of the ground. |
| 0:44.5 | It really became affected the rental demand and rental projections. |
| 0:49.5 | And then also we talk about important consideration is why landlord-friendly laws and local legislation |
| 0:55.1 | matters so much. And then some mistakes that investors make when trying to chase appreciation, |
| 1:00.0 | and then the markets we're focused on right now and why. So we're going to talk about |
| 1:04.4 | what makes a good market to help you select a good market investment. We're also going to talk |
| 1:08.5 | about using that same methodology, applying it to ours and why we invest in certain markets. All right, let's get right into the |
| 1:15.0 | conversation with Andrew Myers. Andrew, welcome. Thank you. Happy to be here. Yeah, it's going to be good. |
| 1:21.3 | Let's start, let's start first of all with, you know, what kind of makes a good market? Like, |
| 1:27.1 | where do you even start? You know, people are like, well, where makes a good market? Like, where do you even start? You know, |
| 1:28.4 | people are like, well, where should I invest in? Like, where would you start that conversation? |
| 1:34.5 | Yeah, that's a great question. So I would address it top down and, and you'd want, well, |
| 1:41.6 | I'll speak to what we look at specifically. So we look at population growth, job growth, wage growth. |
| 1:48.7 | Those are the key drivers of renter demand and employment stability. |
... |
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