733: Hard To Find Great Multifamily Deals

Although distress is here in multifamily, great deals are still largely elusive. There’s still a lot of money on the sidelines, and lenders are hanging on to properties with the hope they’ll increase in value. Ken Doble, Partner at Quantitative Realty Capital, sold off the last of his 9300-unit portfolio in 2023 and is back in the market. Ken has looked at hundreds of deals and only bought one since selling off his portfolio. Ken is a highly experienced operator who emphasizes the intricate details of all aspects of acquisitions, asset management, and operations. He generally avoids class C because of a difficult tenant base that can result in high delinquencies plus obsolete systems that end up eating into profits in ways you can’t anticipate. Class C also tends to get crushed in bad recessions.