But I am seeing the market shifting and changing based on who is going.

With rates shifting and lending tightening, I’m curious where you think the note market is heading.

In another 6 - 18 months there will be a big shift here.

Treasury market is seeing renewed volatility as the 10-year yield has climbed back above 4.1%, reflecting persistent uncertainty and shifting expectations around the Federal Reserve’s next moves.

I agree the stock market feels stretched right now, and if you’ve already got liquidity covered, shifting some capital into a tangible, cash-flowing asset can be a smart move.

Many investors are shifting their strategy a bit — either targeting smaller multifamily properties, secondary markets just outside the big metro areas, or projects that need light rehab to force some equity and improve rents.It can also help to work directly with agents who specialize in investment properties, not just retail listings, or to tap into off-market options like wholesalers and local REI groups.

@Erik Estrada, that .25 example is wild — definitely an edge case, but great reminder that commercial leases can dramatically shift the real coverage, even if they don’t help with qualifying.In today’s market, creativity and compensating factors carry weight, but the underwrite still needs to make sense.

If you are not dealing with these code shifts yet, they are coming.This is my way of saying new construction is not a viable solution for most.

Hi @Andy Gonzales, Many investors are shifting from flips to long-term rentals to focus on steady cash flow instead of relying on quick appreciation.

Almost no applications.The applicants who do apply are slow, hesitant, and shopping 10 other options.Backouts are way higher, people flake because there are 100 other units they can jump to.Inventory is stacked in most submarkets.Even with concessions like ½ month free or 1 month free, lease-ups are still crawling.And yet… I still see landlords acting like every applicant is disposable and they can move at the speed of a DMV.It’s crazy to me.In our company, we’ve had to shift our entire approach.We’re treating leasing like a sales funnel, because that’s what it is right now:Inquiry → Showing → Application → Approval → Deposit → Move-inMaximize leadsFollow up oftenMove people to the next stepReduce friction everywhere we canTreat applicants like actual customers, not a nuisanceBecause whether people like it or not, tenants suddenly have the power.More options.