92: It’s a Highly Competitive Market for Multifamily but One Market Has Been Overlooked

When it comes to multifamily, it seems like no good deals are to be had. Even in smaller markets, cap rates have compressed so much and the competition keeps getting fiercer. But today’s guest, Joshua Ferarra of Ferrara Capital, has been buying 7 and 8 cap deals in Mobile, Alabama where he currently lives. These have been C and B class deals with recent renovations completed by previous owners and therefore did not require heavy-lift rehabs or unusually high cap-ex.