Becoming a Multifamily Sponsor Part 2 — Broker Relationships, Deal Flow, Market Outlook & How Underwriting Has Changed

If you're still underwriting deals the same way you were 12 months ago, you're leaving yourself exposed. The market has changed — and so has Think Multifamily's approach to financing, underwriting, and deal selection.

In Part 2 of the Becoming a Multifamily Sponsor series, Mark Kenney tells Tyler Lyons what the KPIs for a new sponsor actually look like, how to build real broker credibility fast, and what's changed inside his firm in response to the rate environment.

In this episode you will learn:

• The KPIs for new sponsors: market selection, underwriting practice, and what 100 deals actually means as a target

• Why you should tour a property instead of asking a broker to coffee — and the Arizona deal story that shows why introductions matter more than cold calls

• How to build credibility fast with brokers: domain email, one-page website, third-party data — and what signals you haven't done your homework

• The rate cap story: $24K increase four minutes before the Fed meeting, then another $120K — and why you will never win against a lender

• Why deal flow is actually easier to build right now — and why sitting on the sidelines as a syndicator is a mistake

• How Think Multifamily has changed its underwriting: higher cap rate escalators, lower refi leverage, rate caps even when not required, and a fresh look at recourse bank loans

This is Part 2 of a two-part series. Listen to Episode 135 first.

Reach Mark at mark@thinkmultifamily.com or visit https://thinkmultifamily.com

Join us at our next event at https://thinkmultifamily.com/event

Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify.

Read the full podcast shownotes, timestamps, resources, and key insights from this episode here: Podcast Show Notes