Hello, everybody, Jake and Gino here.

And today we're covering the mammoth, the big Harry in the room.

What's next in this crazy multifamily investing real estate landscape, cuckoo nuttiness. Gino, it's a hot market

out there, and we've been wrong before. What's going on? Jake, it seems as if we keep asking

ourselves this question year after year. Where's the ceiling? After year. Do you know when you've

reached the height of the market, when you look back and go, know when you've reached the height of the market,

when you look back and go, oh, that's where the height of the market was. You'll never be

able to time it and take it from the pizza man and the drug rep. We've been trying to time it,

and we keep passing by. And let me share a little story with everybody here. We're looking at a deal last year.

It was $105,000 per unit.

Now that is pretty high for Jake and Gino.

We're looking at it, especially the markets that we invests.

We're buying for 30 and 40th, Adore.

We're looking at this deal and we're going, hold on a second.

This doesn't make sense. At 105 a door, there's very little cash flow,

because if it don't cash flow, you let the grass grow. And this thing is, it's not working at

105 a door. But remember, people are underwriting for different reasons. There's a lot of private

equity out there. There's a lot of family offices. I read a statistic back in 2014. There were over 5,000

homes, 5,000 families with over a net worth of over $100 million. That number is probably

doubled. So you've got thousands and thousands of families who are allocating their assets,

getting out of stocks and bonds and going to alternative, such as crypto, such as real estate. So their real estate portfolio has doubled.

So this type of demographic, they're not chasing cash on cash. They're chasing safety.

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