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

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

Author: Mark & Tamiel Kenney February 17, 2023 Duration: 23:04

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


Mark and Tamiel Kenney built something remarkable, turning a single duplex into a portfolio of over sixty-five hundred units in just three years. On the Think Multifamily Podcast, they pull back the curtain on exactly how they did it, moving beyond theory to share the tangible, week-by-week steps that define real success in apartment investing. This isn't about sacrificing your time or freedom; it's a practical conversation about building a legacy that actually works for your life. Each episode feels like a direct conversation with the Kenneys, filled with the specific insights and hard-won lessons from their own journey. You'll hear them break down complex deals, discuss market shifts, and explore the mindset required to navigate the challenges and opportunities in multifamily real estate. Tune in for a straightforward, content-rich dialogue that cuts through the noise, offering a clear path for anyone serious about creating lasting wealth through property. This podcast provides the kind of actionable guidance that only comes from hosts who have walked the path themselves.
Author: Language: English Episodes: 50

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