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!
Matt:
This is the Bigger Pockets podcast show number 711.
Andrew:
I feel like we’re going to see opportunities we haven’t seen in 10 years. When I look back at 2012, 2013 and 2014, my only regret is I didn’t buy more. I didn’t have the capability. My mom wrote my first check as a syndicator and then it took a long time to get everybody else to join in. So I’m looking at this now as this is coming up, probably starting mid 2023 is going to be…