Episode #767 The multifamily market is about to buckle. With sellers still riding the highs of 2022, buyers are at a crossroads; keep pursuing deals or wait for the market to go south. And, with mortgage rates rising and short-term financing coming due, many multifamily owners could be forced to sell their properties to the highest bidder. While some of this may sound like speculation, we’ve got a multifamily forecast straight from an expert in the industry, Angie Smith, from Strategic Management Partners. Angie and her company manage 25,000 rental units at a time. Yes, you read that right! For the past decade, Angie has been the go-to manager for top apartment complexes across Georgia, dealing with everything from noisy tenants to in-unit farms and goat grilling operations (seriously). She knows the ins and outs of property management, what makes a good property manager, and why self-managing isn’t always the wisest move. In this episode, Angie gives her take on the 2023 housing market and when she thinks multifamily will start to get shaky, why most investors are wrong about property management, how to choose a property manager, and the questions you should ask ANY management company before you hire them. If you want TRULY passive income through real estate, you DON’T want to manage your rentals alone. ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Grab the 27 Questions to Ask a Property Manager: https://www.biggerpockets.com/resources?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Hear Our Asset Management 101 Episode: https://www.biggerpockets.com/blog/real-estate-739?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Multifamily Real Estate Is At Risk Of Crashing — Here’s Why: https://www.biggerpockets.com/blog/multifamily-real-estate-is-on-the-brink-of-crashing?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Self-Management vs. Property Management Company: https://www.biggerpockets.com/blog/property-management-vs-self-management?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Work with Angie and SMP: https://www.smpmgt.com/en/ ~~~~ Connect with Andrew: BiggerPockets: https://www.biggerpockets.com/users/andrewc58?utm_source=youtube&utm_medium=description&utm_campaign=none LinkedIn: https://www.linkedin.com/in/andrew-cushman-959471a Vantage Point Acquisitions: https://www.vpacq.com/ ~~~~ Connect with Matt: BiggerPockets: https://www.biggerpockets.com/users/mfaircloth?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @themattfaircloth or https://www.instagram.com/themattfaircloth/ DeRosa Group: https://derosagroup.com/ ~~~~ Show notes at: https://www.biggerpockets.com/blog/real-estate-767?utm_source=youtube&utm_medium=description&utm_campaign=none 00:00 Intro 02:22 Quick Tip 03:03 2023 Multifamily Market Update 11:43 When Will Prices Start to Fall? 17:43 Grilling Goats in a Rental Unit?! 22:45 Property Management 101 28:26 How to Choose a Property Manager 34:24 Owners, AVOID Doing This 39:28 Crime, Lawsuits, and Insurance 42:33 Self-Managing? Not So Fast... 49:32 Connect with Angie! 50:00 Do THIS on Your Next Deal