MULTIFAMILY AP360

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RK#464 Should you buy multifamily in a high supply market in 2026?

2026-10-2804:24

Send us Fan Mail The script explains why high-supply multifamily markets can be risky in 2026: heavy Class A deliveries increase competition, drive concessions, pressure occupancy, and lead to stagnant or declining effective rents, especially in Sun Belt markets still absorbing record construction. It argues high supply doesn’t automatically eliminate opportunity if investors buy at a real discount to replacement cost or peak values, focus on stabilized Class B, target submarkets with clear d...

RK#463 How to analyze a multifamily deal in 10 minutes

2026-10-2504:07

Send us Fan Mail My 10-Minute Multifamily Deal Filter (2026 Underwriting Checklist) This episode explains a 10-minute process to quickly decide whether a multifamily deal is worth pursuing in 2026. It starts with three front-end checks: location and submarket supply, current occupancy and collections, and the asking price per unit and going-in cap rate—passing immediately if any are weak. On income, it ignores seller pro forma rents and instead compares in-place rents to recent leases and ma...

RK#462 The 10 biggest red flags in a multifamily offering memorandum

2026-10-2303:53

Send us Fan Mail This episode breaks down the 10 biggest red flags to watch for in a multifamily offering memorandum (OM), emphasizing that an OM is a sales document and your job is to find what’s missing, exaggerated, or risky. It covers income-side issues like aggressive rent assumptions, “perfect” trailing 12-month income despite slipping occupancy or collections, and unrealistic rent growth projections in high-supply Sunbelt markets. On the expense side, it flags outdated expense ratios (...

RK#461 What happens when your multifamily exit strategy fails?

2026-10-2005:08

Send us Fan Mail When Your Multifamily Exit Fails in 2026: What Happens Next (and How to Protect Yourself) The script explains how multifamily exit strategies underwritten in 2021–2023—refinancing in year three or selling in year five—are failing in 2026 due to higher rates, weaker rent growth, and rising expenses, along with Fed hikes, a maturity wall, and elevated insurance and taxes that undermine refinance proceeds and sale prices. It outlines four common outcomes: forced equity injection...

RK#460 Beyond Multifamily: Why Brian Burke Is Betting on Senior Housing

2026-10-1044:52

Send us Fan Mail On Multifamily AP360, host Rama welcomes Brian Burke, president and CEO of Praxis Capital and author of The Hands-Off Investor, to discuss why he shifted from multifamily to senior housing after selling most multifamily holdings by early 2022 and beginning acquisitions in early 2025. Burke explains the senior housing thesis: rapid growth in the 80+ population (10,000 turning 80 daily), decade-low construction, and a post-COVID cycle bottom creating low values and rising deman...

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