Multi-Family Update & the Real Estate Market Shift | Smart Marketing for Small & Medium Size Businesses
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 30 January 2025
⏱️ 58 minutes
🧾️ Download transcript
Summary
This episode of the podcast dives deep into the evolving landscape of multi-family real estate investing. Ken and Danille McElroy break down the current market dynamics, highlighting the challenges and opportunities for investors navigating high interest rates, rising operating costs, and shifting valuations. They discuss why now may be the best time to buy and how to identify the best deals in today’s disrupted market.
In the second half of the episode, Ken and Danille sit down with Scott Harkey and Amy from OH Partners, one of the leading marketing firms in the Southwest. They explore marketing strategies for small and medium-sized businesses, the evolving role of authenticity in advertising, and why influencer marketing is overtaking traditional celebrity endorsements. Whether you’re a real estate investor or a business owner, this episode is packed with insights to help you stay ahead of the curve.
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Visit Ken's Bookstore: https://kenmcelroy.com/bookstore
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | So I wanted to give a little bit of a multi-family market update because there's a lot |
| 0:09.6 | happening in the multifamily market right now. |
| 0:11.7 | Well, I wish there wasn't, but there is. |
| 0:13.9 | It's like it's crazy, crazy, crazy stuff going on. |
| 0:18.7 | Yeah, I mean, if you go back to 2020 and 2020 and 2021, it got pretty |
| 0:23.3 | crazy. You know, MC was looking at bid, it deals and getting out bidded by millions of dollars. |
| 0:30.8 | Well, I was there. I remember. It was, we were best in final and almost everything. And then we |
| 0:36.9 | weren't. Then we're in the |
| 0:38.3 | middle of the pack. Then we were toward the end. And what was going on was people were stretching |
| 0:44.0 | on deals. So I think people need to realize what was happening is there were so much syndication |
| 0:51.9 | happening and so much loose money. When I say loose money, people were just investing and there was low interest rates. |
| 0:58.8 | And so they were overpaying for things, which could happen. |
| 1:03.8 | Some people will call it irrational exuberance or whatever you want to call it, an acid bubble. |
| 1:08.9 | And all of a sudden, Ross and I, we were |
| 1:12.2 | underwriting the same. Like, we didn't change who we were. We were always trying to solve the |
| 1:16.8 | cash on cash for the investor. We were always trying to keep the investor in mind, keep the return |
| 1:22.4 | in mind. But what was going on is people got weird about losing a deal, just offering crazy numbers. And so we |
| 1:30.7 | found ourselves on the short end of the stick for a couple of years. Well, you were okay with that |
| 1:36.3 | because if the deal didn't, you know, if you didn't believe it was going to pencil or the numbers, |
| 1:40.7 | you know, at a certain point, they don't work, so then you don't offer, right? Correct. |
| 1:44.6 | Well, right. |
| 1:45.6 | We, luckily, we had good relationships with the brokers, and they were just saying, you're |
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