Anyone Else Struggling to Find Real Multifamily Deals Right Now?

Question

Curious if others are seeing the same thing—

There’s a lot of “deals” floating around, but very few that actually make sense or are worth moving on.

The better ones I’ve seen lately aren’t being blasted—they’re getting matched directly with buyers who can execute.

What are you guys seeing in your markets right now?

Chris Seveney · Answer

Deals are not going to come as easy as they used too because the underwriting today is more operationally centric where in the past you could be the worst manager on the planet and still make money. Tons of opportunities out there from what we are seeing but if your goal is a quick 1-2 year hold then yes it's not gonna pencil

Account Closed · Answer

I’m seeing something very similar.

There doesn’t seem to be a shortage of properties being marketed—there’s a shortage of properties that actually pencil out once you factor in today’s rates, insurance, taxes, reserves, and realistic rent projections.

The strongest multifamily opportunities I’ve seen lately tend to fall into one of three categories:

• Off-market or lightly marketed deals• Distressed assets that need repositioning• Situations where the seller has a specific problem that needs solving beyond just price

A lot of the widely marketed deals are getting picked apart by experienced buyers pretty quickly.

It also feels like the buyers who have capital, financing lined up, and a clear execution plan are getting first looks at opportunities before they ever hit the broader market.

Markets may differ, but quality seems to be winning over quantity right now. I’d be interested to hear where others are still finding multifamily deals that genuinely cash flow and make sense at today’s valuations.

G. Brian Davis · Answer

As a co-founder of a co-investing club, we review a lot of opportunities, and the challenge usually isn't finding deals; it's finding deals that still look attractive after realistic underwriting.The strongest opportunities seem to move quietly. They're often getting shared through existing relationships before they ever make it to a broader audience.That doesn't mean good deals aren't out there. It just feels like investors have become a lot more selective, and the margin for error is smaller than it was a few years ago.

Matt Waggoner · Answer

I think this could be regional. If there are multifamily deals they are out there. I will say I was expecting more in the 10+unit inventory to be out there with many of these commercial deals coming due and not being able to cashflow. That said I have heard that some lenders are extending terms out and working with the landlords rather than have them face selling. As far as the MLS, they are out there. I have had 2 different 4 plexes under contract  this spring, Closing on them...well. That is a story for a different thread.

Anyone Else Struggling to Find Real Multifamily Deals Right Now?

Anyone Else Struggling to Find Real Multifamily Deals Right Now?

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