Multifamily real estate has crashed, but we’re not at the bottom yet. With more debt coming due, expenses rising, incomes falling, and owners feeling desperate, there’s only so much longer that these high multifamily prices can last. Over the past year, expert multifamily investors like Brian Burke and Matt Faircloth have been sitting and waiting for a worthwhile deal to pop up, but after analyzing hundreds of properties, NOTHING would work. How bad IS the multifamily market right now?
Brian and Matt are back on the podcast to give their take on the multifamily real estate market. Brian sees a “day of reckoning” coming for multifamily owners as low-interest debt comes due, banks get desperate to be paid, and investors run out of patience. On the other hand, Matt is a bit more optimistic but still thinks price cuts are coming as inexperienced and overconfident investors get pushed out of the market. So, how does this information help you build wealth?
In this episode, Brian and Matt share the state of the 2024 multifamily market, explain exactly what they’ve been doing to find deals, and give their strategy for THIS year that you can copy to scoop up real estate deals at a steep discount. Wealth is built in the bad markets, so don’t skip out on this one!
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Show notes at:
00:00 Intro
01:57 Multifamily Has PEAKED
05:55 Prices Are Out of Whack
11:30 Price Cuts Are Coming
15:55 A LOT of Debt is Due...
22:47 The "Day of Reckoning" is Upon Us
29:02 What to Do THIS Year
34:46 Matt and Brian's 2024 Plan
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By: BiggerPockets Title: A “Day of Reckoning” is Coming for Multifamily Real Estate in 2024 Sourced From: www.youtube.com/watch?v=ZTe6J4_aikk
