714: Multifamily Is Hard To Sell But It’s A Great Time To Buy

Multifamily has seen some of its largest headwinds in almost two decades. In many markets, new supply levels are at historic records, expenses such as insurance and taxes have skyrocketed, and other operating expenses have also escalated. All of these challenges, plus impending loan maturities and less liquidity, are making this an opportune time to buy. Ivan Barratt, Founder and CEO of the BAM companies, is acquiring newly built properties at significantly less than replacement cost, and is also evaluating older, value-add properties that have also come down in price. Ivan has seen the same challenges as others in his existing portfolio, but has managed well through the turmoil by raising more equity on the front end, taking on less leverage, and hedging with conservative rate caps.