Multifamily real estate investing was almost impossible to break into over the past few years. Even those that had been in the field for decades were finding it challenging to get offers accepted or deals underwritten. Investors were throwing in almost unbelievable amounts of non-refundable earnest money, going well over asking price and analyzing deals at lightning speed, which often led to mistakes, not more money. But the tables have turned, and now, thanks to high interest rates, the buyer is in the driving seat. And how could it be a multifamily episode without Andrew Cushman and Matt Faircloth? These two expert multifamily investors have been buying apartments for decades and helping others do the same! In this episode, Andrew and Matt break down what has gone on in the multifamily markets, why cap rates haven’t kept pace with interest rates, and what buyers can do now that sellers have lost most of their bargaining power. You’ll also get to hear their multifamily predictions for 2023, how far they expect prices to fall, and what you can do to start or scale your multifamily investing this year! Then, Andrew and Matt take questions from the BiggerPockets forums and live Q&As with new multifamily investors. These topics range from property classes explained to raising private capital from investors (who aren’t your mom) and the risks and rewards of investing in smaller markets. Whether you’re interested in duplexes, triplexes, or two-hundred-unit apartment complexes, Andrew and Matt have answers for you! 00:00 Intro 01:52 Quick Tip 03:17 The Mortgage vs. Cap Rate Battle 13:33 Prices Are Dropping Fast 24:50 How to Start or Scale in Multifamily in 2023 31:41 2023 Goals 36:10 Multifamily Q&A 36:48 Which Property Class to Invest in 43:46 Investing in Small Markets 51:17 How to Raise Capital 57:37 Connect with Andrew and Matt! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Grab Some BiggerPockets Merch: https://bit.ly/biggerpocketsswag ~~~~ Find an Investor-Friendly Agent in Your Area: https://www.biggerpockets.com/agent/match?utm_source=owned_media ~~~~ Connect with Other Investors and Ask Your Question on the BiggerPockets Forums: https://www.biggerpockets.com/forums?utm_source=owned_media ~~~~ Books Mentioned in Today’s Show: Long-Distance Real Estate Investing: https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=owned_media Raising Private Capital: https://store.biggerpockets.com/products/raising-private-capital?utm_source=owned_media The Intention Journal: https://store.biggerpockets.com/products/the-intention-journal?utm_source=owned_media ~~~~ Paul Moore’s Article on Interest Rates and Cap Rates: https://www.biggerpockets.com/blog/lines-just-crossed-investors-need-to-be-careful?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Philip: BiggerPockets: https://www.biggerpockets.com/users/philiph94?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @the_educated_investor or https://www.instagram.com/the_educated_investor/ Website: https://www.educatedinvest.com/ ~~~~ Connect with Daniel: BiggerPockets: https://www.biggerpockets.com/users/danielz34?utm_source=youtube&utm_medium=description&utm_campaign=none Twitter: @dzapata or https://twitter.com/dzapata ~~~~ 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/ ~~~~ Follow BiggerPockets on Instagram: @biggerpockets or https://www.instagram.com/biggerpockets/ Episode #711 Show notes at: https://www.biggerpockets.com/blog/real-estate-711?utm_source=youtube&utm_medium=description&utm_campaign=none