125 Tips for Cash Flow Part 2 — Market Selection, Deal Analysis, Drive-Bys, LOIs & Due Diligence
Release Date: 01/12/2023
Multifamily Asset Management Best Practices with Mike Kenney (Part 2) | Ep. 159
Think Multifamily Podcast
If you asset manage long enough, you'll deal with a homicide, an arson, or a car crashing into your building. That's not worst-case — that's Tuesday. In Part 2 of this conversation, Mark Kenney sits down with his twin brother Mike Kenney — a 20-year real estate veteran — to go behind the scenes on what multifamily asset management actually looks like. No theory. Just real situations, real decisions, and hard-won lessons from managing properties across multiple markets. In this episode you'll learn: · Why the same leasing strategy can fail on one property and work perfectly on...
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What Is a Multifamily Asset Manager? With Mike Kenney (Part 1) | Ep. 158
Think Multifamily Podcast
Most people think they want to be a multifamily asset manager. Then they actually do it. In Part 1 of this two-part series, Mark Kenney sits down with his identical twin brother Mike Kenney — a 20-year real estate veteran — to break down what the asset management role actually involves, why so many investors underestimate it, and what separates the people who thrive in it from those who burn out. In this episode you will learn: • What a multifamily asset manager actually does — and who they answer to• Why trying to asset manage alongside deal sourcing and capital raising leads to...
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When to Sell, Refi, or Walk Away from a Multifamily Deal with Dugan Kelley (Part 3) | Ep. 157
Think Multifamily Podcast
30% of zero is still zero. And right now, a lot of syndicators need to hear that. In the final episode of this three-part series, syndication attorney Dugan Kelley delivers the conversation most GPs are actively avoiding — what to do when your property is in trouble, your loan is maturing, and every option in front of you is a hard one. In this episode you will learn: • Why the ostrich effect — burying your head in the sand — is the worst thing a syndicator can do when a deal goes sideways• When a cash-in refi makes sense and how to structure that conversation with your investors•...
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Loan Modifications, Capital Calls, and Member Loans with Dugan Kelley (Part 2)
Think Multifamily Podcast
Your loan documents will determine how creative you can get when your deal hits trouble. Most syndicators don't find that out until the crisis is already here. In Part 2 of this series, syndication attorney Dugan Kelley breaks down the legal and financial tools available to operators in distress — and explains why lenders right now are more open to working with you than you might think. In this episode you will learn: • Why your loan covenants are the real limit on your options — not your creativity • How lenders are being encouraged to work constructively with borrowers to avoid...
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The Multifamily Market Shift — What Syndicators Must Know Now with Dugan Kelley (Part 1)
Think Multifamily Podcast
Transaction volume in multifamily is down 60 to 70%. The syndicators still winning are the ones using deal structures most people haven't touched in years. In Part 1 of this three-part series, syndication attorney Dugan Kelley — a 23-year legal veteran and trusted advisor to Think Multifamily for over seven years — breaks down exactly what has shifted in the acquisition market and what operators, sponsors, and investors need to know right now. In this episode you will learn: • Why the market has flipped from seller-driven to buyer-driven — and what that means for earnest money, due...
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How to Analyze a Multifamily Deal — What Mark Kenney Looks For First
Think Multifamily Podcast
Think Multifamily teaches deal analysis over three full days. What Mark shares in this episode is the condensed version — and it's still more actionable than most full courses on the subject. In this solo episode, Mark Kenney walks through the exact questions he asks when a coaching client submits a multifamily deal for review. From the first pass to exit assumptions, this is how experienced operators actually stress-test a deal. In this episode you will learn: • Why CapEx below $5,000 per door is an immediate red flag — and what the right rehab timeline actually looks like • The...
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Interacting with Selling Brokers — What Every Multifamily Buyer Needs to Know
Think Multifamily Podcast
Most multifamily investors know they need brokers — but very few know how to actually work with them. In this solo episode, Mark Kenney breaks down the rules of engagement with commercial multifamily selling brokers, from your first interaction to the day you sell the property years later. In this episode you will learn: • How commercial multifamily brokers differ from residential agents — and why you never work with a broker from a different firm on a listed deal • The right way to get on a broker’s radar — and why touring an active deal beats coffee every time • What to...
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Interest Reserves & CapEx Funds — What Lenders Won’t Tell You
Think Multifamily Podcast
Most investors know their bridge loan includes interest reserves and CapEx funds. What they don’t know is what happens when they don’t use them correctly — and by the time they find out, it’s usually too late. In this solo episode, Mark Kenney walks through everything lenders won’t volunteer upfront about interest reserves and CapEx funds, including the real-world mistake that left one borrower responsible for $780,000 out of pocket. In this episode you will learn: • Why Mark’s rule is to draw as much lender money as you’re allowed, as early as possible —...
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Loan Assumptions in Multifamily — What Buyers and Sellers Need to Know
Think Multifamily Podcast
When a seller says the loan must be assumed, do you know what that actually means — and what your real options are as the buyer? In this solo episode, Mark Kenney demystifies loan assumptions in multifamily investing: why sellers use them, what lenders are looking for, and the key details that most buyers overlook until it’s too late to fix them. In this episode you will learn: • The real reason sellers list properties as loan assumptions — and why it’s not always a hard requirement • What the lender evaluates when approving a buyer — and why you can find out early •...
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VAs, AI & Smarter Operations — Behind the Scenes of a Family Syndication Group Call
Think Multifamily Podcast
What does it actually look like when multifamily investors use virtual assistants and AI in their day-to-day business? Not the theory — the real workflows, real costs, and real trade-offs. This episode takes you inside a Family Syndication Group members-only call, where three investors share exactly what they’re doing and how it’s working. In this episode you will learn: • How Jeff McKee grew his LinkedIn connections from 5,000 to 9,500 in 18 months using a $5.50/hour VA — and the targeting strategy that made it work • The difference between OnlineJobs.ph and managed VA...
info_outlineOne property tax adjustment turned a 22% IRR into a negative 10%. That’s what happens when you don’t do your homework before you submit an offer.
In Part 2 of the 125 Tips series, Mark Kenney covers market selection, deal analysis, drive-by strategy, LOI submission, contracts, and due diligence — with the real errors and real examples that expose where investors get burned.
In this episode you will learn:
• Why city investment in a submarket matters less than developer investment — and the market characteristics Mark avoids entirely
• The $50M deal red flag: what happens when someone submits with no PM budget, no insurance, no equity, and three other deals open
• How one property tax adjustment flipped a positive 22% IRR to a negative 10% — without changing anything else
• Cap rates demystified: sub-market vs. in-place T12 vs. adjusted — and which one you’re actually buying at
• The cash vs. accrual accounting distinction that can shift property value by millions — and why sellers use one and buyers assume the other
• Drive-by strategy, LOI submission rules, re-trade guidelines, and why Mark’s team drilled the locks on 36 units during due diligence
This is Part 2 of a three-part series. Listen to Episode 132 first, then continue with Episode 134.
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