711: Is This the BIGGEST Multifamily Opportunity in 10 Years?
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 8 January 2023
⏱️ 61 minutes
🧾️ Download transcript
Summary
Multifamily real estate investing was almost impossible to break into over the past few years. Even those that had been in the field for decades were finding it challenging to get offers accepted or deals underwritten. Investors were throwing in almost unbelievable amounts of non-refundable earnest money, going well over asking price and analyzing deals at lightning speed, which often led to mistakes, not more money. But the tables have turned, and now, thanks to high interest rates, the buyer is in the driving seat.
And how could it be a multifamily episode without Andrew Cushman and Matt Faircloth? These two expert multifamily investors have been buying apartments for decades and helping others do the same! In this episode, Andrew and Matt break down what has gone on in the multifamily markets, why cap rates haven’t kept pace with interest rates, and what buyers can do now that sellers have lost most of their bargaining power. You’ll also get to hear their multifamily predictions for 2023, how far they expect prices to fall, and what you can do to start or scale your multifamily investing this year!
Then, Andrew and Matt take questions from the BiggerPockets forums and live Q&As with new multifamily investors. These topics range from property classes explained to raising private capital from investors (who aren’t your mom) and the risks and rewards of investing in smaller markets. Whether you’re interested in duplexes, triplexes, or two-hundred-unit apartment complexes, Andrew and Matt have answers for you!
In This Episode We Cover:
The mortgage and cap rate battle and how the two are unbalanced in 2023
The multifamily buyer’s market and why now is the time to aggressively chase deals
2023 housing market predictions and what multifamily investors can expect
How to start, or scale, your multifamily real estate portfolio this year
Long-distance real estate investing and assessing a property market from afar
How to raise money from private investors and expanding your network
The hidden dangers behind investing in a small, tertiary markets
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Andrew's BiggerPockets Profile
Paul Moore’s Article on Interest Rates and Cap Rates
Books Mentioned in the Show:
Long-Distance Real Estate Investing by David Greene
Raising Private Capital by Matt Faircloth
The Intention Journal by Brandon Turner
Connect with Philip & Daniel:
Philip's BiggerPockets Profile
Daniel's BiggerPockets Profile
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-711
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Transcript
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| 0:00.0 | This is the bigger pockets podcast show number 711. I feel like we're gonna see opportunities |
| 0:06.7 | We haven't seen in 10 years right wait if I could |
| 0:10.3 | When I go back at 2012 2013 and 2014 my only threat is I didn't buy more |
| 0:14.8 | I didn't have the capability right my mom wrote my first my first check as a |
| 0:18.3 | Cindicator and then it took a long time to get out everybody else to join in |
| 0:23.0 | So I'm looking at this now as this is coming up probably starting mid 2023 |
| 0:28.5 | It's gonna be the time to scoop up deals that otherwise were unobtainable for the last five six seven years |
| 0:34.7 | And for those listening who the last three years have been frustrated because you can't get in the market because |
| 0:41.3 | There's no deals out there the deals are coming and then also not not to be morbid |
| 0:46.2 | But you're gonna have a lot less competition welcome everybody to the bigger pockets podcast |
| 0:50.0 | My name is Matt Freckloff and I am the co-host of the bigger pockets podcast and I want to bring in |
| 0:54.6 | My one of my besties one of my friends the host of the bigger pockets podcast today |
| 1:00.4 | Not really the host, but you and I stole the microphone did we Andrew? |
| 1:03.1 | We stole the mic and we are now running the bigger pockets podcast who knows what's gonna come out of our mouths today, right? |
| 1:08.1 | Yeah, you know David David went off to Mexico and left his link live and you and I are gonna jump in and see what we can do |
| 1:14.8 | Oh, what could go wrong? It's great, but well the quick edge would tell me how you are today. I am good |
| 1:19.7 | I am staying positive and testing negative. Can I steal that? |
| 1:26.0 | Yeah, give me credit the first time and the rest of the time it's yours. Okay, cool |
| 1:29.1 | If we're gonna be if we're gonna be stealing the microphone do you promise me you'll have lots of awesome |
| 1:33.1 | Andrew Kushman analogies and cool straight face tumors and like David Green analogies as well |
| 1:37.8 | We can use throughout the show. You know, I'll do my best |
| 1:39.9 | I'm a little nervous filling in for for the green and I forgot to put on my tank top |
... |
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