Episode 223: Navigating Challenges in the Multifamily Market: Lessons Learned from Mark Kenney
Release Date: 04/08/2024
SPECIAL ANNOUNCEMENT: New Investment Opportunity! 20-Unit New Construction 800 Feet from the Ocean in San Diego
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Today, we are proud to present our exclusive investment opportunity for our 20-unit new apartment development on the border of Ocean Beach and Sunset Cliffs right here in San Diego, CA. This investment is open to all of our listeners so you can invest alongside us. In this episode, we provide a sneak peak at what makes this rare opportunity such a great investment. If you've been listening to our podcast, you won't want to miss this one. If you want to learn more about this investment, be sure to register for our live webinar on August 5th at 5:30 PM PT. , or you can copy and paste...
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- Shawn: @shawn_dimartile
- Mike: @miketighe_
In this episode, host Shawn DiMartile interviews Mark Kenney, co-founder of Think Multifamily, about his experiences and lessons learned in the multifamily real estate industry. Mark shares insights from his 30-year career, discussing the challenges he has faced, particularly in the past year. He highlights the impact of rising interest rates, increasing insurance costs, and eviction delays on multifamily investments. Mark also provides valuable advice for aspiring investors, emphasizing the importance of eliminating unknowns and seeking guidance from experienced mentors. He discusses the current market conditions and shares his thoughts on the future of multifamily investing.
Some key takeaways from this episode:
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The past year has been the most challenging for multifamily investors, with rising interest rates, soaring insurance costs, and eviction delays creating significant obstacles
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To navigate these challenges, Mark advises investors to eliminate as many unknowns as possible and focus on areas with less volatility in terms of evictions, insurance costs, and property taxes
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Mark recommends seeking guidance from experienced mentors who have been through market cycles and can provide valuable insights and advice
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Despite the challenges, there is still a strong demand for multifamily properties, and the interest in the industry is expected to rebound, especially among larger institutional investors
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Investors should adjust their expectations for returns and rent growth based on the current market conditions and uncertainties
How to connect with Mark:
Email: [email protected]
Website: www.thinkmultifamily.com
Learn more about Mike and Shawn:
- Shawn: www.investorshawn.com
- Mike: www.investormike.com
- Website: www.takeoffcapital.com